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← The Benenden Hospital Trust

2024-12-31-accounts

The Benenden Hospital Trust

(A Company Limited by Guarantee) Annual Report and Financial Statements Year ended 31 December 2024

Registered Number: 03454120

Charity Number: 1065995

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Contents

Page(s)

The Board of Governors Annual Report 2024 The Board of Governors Annual Report 2024
• Chair’s Report 03
• Objectives and Activities 04 – 05
• Achievements and Performance 06
• Financial Review 07 – 08
• Future Plans 08
• Reference and Administrative Information 09 – 10
• Structure, Governance and Management 10 – 14
• Governors’ Responsibilities in Relation to the
Financial Statements		 14
• Section 172 Report 15
• Streamlined Energy and Carbon Reporting 16 – 17
• Statement as to Disclosure to our Auditor 18
Independent Auditor’s Report 19 – 23
Statement of Financial Activities 24
Balance Sheet 25
Cash Flow Statement 26
Notes to the Financial Statements 27 – 44

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

The Board of Governors (who are Directors of the Benenden Hospital Trust for the purposes of the Companies Act 2006 and are also Trustees of the Benenden Hospital Trust) present their Annual Report and audited Financial Statements of The Benenden Hospital Trust (“BHT” or “Charitable Company” or “Hospital”) for the year ended 31 December 2024.

The Annual Report and Financial Statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum & Articles of Association, and Accounting & Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Chair’s Report

The Hospital has continued to make excellent progress in implementing its 5-year plan, which underpins its 2028 Vision. It has introduced additional innovative services in 2024, including Arthrosamid injections for knee osteoarthritis, ThermaVein treatment for thread veins and ultrasound liver scans to detect liver disease at an early stage. The Hospital continues to grow its robotic services, ROSA for knee replacements, and Aquablation for treatment of enlarged prostates, performing over 90 robotic procedures in the year.

However, this year has presented some challenges to the Hospital. Income from treating The Benenden Healthcare Society Limited (“Society”) members was negatively impacted by a reduction in the Hospital’s catchment area, Society changes to the treatments available to members plus a decrease in demand from Society members. To mitigate the reduction in Society income, the Hospital focussed on growing third party income, with the positive results that NHS income grew by 12%, income from Private Medical Insurers by 44% and Self-Pay income by 4.6%.

Retaining and recruiting clinical staff remains a challenge, and we continue to invest in supporting the physical and mental wellbeing of our staff. This was reflected in the Hospital recently being awarded a “We invest in wellbeing” Gold Award from Investors in People.

It was gratifying to see the Hospital recognised by the wider healthcare industry with some prestigious award nominations. In 2024 the Hospital was a finalist at the Laing Buisson awards in the categories of Hospital of the Year and Innovation in Care and was the winner of the Best Carbon Reduction Initiative at the Building Better Healthcare awards for the gas capture system installed in the Hospital’s theatres. In addition, the Hospital has received recognition from its patients with more than 7,300 patient reviews now received on Doctify.

Internal recognition was shared at the annual Best of Benenden Awards Ceremony held in November. The event again broke the prior year’s record for the number of attendees and award nominations. We acknowledged and celebrated all the outstanding contributions that our staff make to the Hospital.

Looking ahead to 2025, the Board of Governors is pleased to have reached an agreement for the transfer of the Hospital to a subsidiary of the Society. This transfer is due to complete by the end of the year. Throughout the transition period our focus remains on supporting our Society members and patients and developing new opportunities to expand the services the Hospital offers and grow third party income. Following the transfer the Charitable Company will remain in place to support the patients of Benenden Hospital and invest its funds to enhance the patient experience.

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

In conclusion, on behalf of my fellow Governors and myself, a big thank you to the Hospital team for their continued engagement and support of the Hospital’s vision and the excellent quality care provided to our patients.

Objectives and Activities

About The Benenden Hospital Trust

The principal objectives and activities of BHT are governed by its Articles of Association. The principal objective of the Trust is ‘the relief of hardship caused by sickness, infirmity, disability or any medical condition in particular by the provision of surgical and medical treatment, nursing care and otherwise to the members of The Benenden Healthcare Society Limited (“Society”), their nominees and, if the Governors think fit, to other persons in need’.

In setting BHT’s objectives and planning its activities the Governors have considered the Charity Commission's general guidance on public benefit.

Our Strategic Objectives

BHT’s strategic objectives, which are underpinned by its values and mission are:

Our Activities

BHT is one of the main providers of surgical and medical treatment to members and nominees of the Society, which provides low-cost health care to its members with membership open to all. In addition, services are provided to Self-Pay and Private Medical Insurance (“PMI”) patients. BHT is also an accredited NHS Provider with NHS patient referrals accepted for a range of specialties with local Integrated Care Board (ICB) contracts in place.

BHT measures the success of its activities in terms of financial performance, the number of patients treated during the year, and the level of serious incidents and infections. An overview of the Hospital’s Achievements and Performance is set out on page 6.

Political Contributions

BHT made no political contributions during the year (2023 : £nil).

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Our Values

The Hospital’s values determine the way that BHT acts at all times. Those values are:

Our People

BHT places considerable value on the engagement and full involvement of its employees and continually keeps them informed on matters affecting them. This is achieved through formal and informal meetings, the daily “10@10” virtual huddle, the Hospital engagement platform Blink and quarterly business plan updates to all staff.

BHT prides itself in providing equal opportunities to all and welcomes applications from a diverse range of applicants, including those with disabilities. In the event of members of staff becoming disabled every effort is made to ensure that their employment with the Hospital continues and that appropriate training is arranged. It is the Hospital’s policy Charitable Company that the training, career development and promotion of all individuals is equal, as far as is possible.

BHT also values the opportunity to work in partnership with our consultant colleagues who support the hospital through engagement in the Medical Advisory Committee, specialty reviews and service development initiatives as well as providing high quality care to our patients.

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Achievements and Performance

Performance

The number of patients referred to the hospital has remained at the same level as last year, however the number of appointments and admissions declined. Activities are summarised below:

2024 2023 Growth
Number Number %
Referrals 36,174 36,054 +0.3%
Appointments 70,535 71,735 -1.7%
Admissions 9,204 10,514 -12.5%

In December 2024 the Society made changes for those Society members in what is known as the hospital’s “outer catchment area” which means that members living in that area will no longer be required to use the Hospital for diagnostics or treatment and instead can be referred to a local hospital. This change, together with changes made to the treatments funded by the Society for its members, has resulted in a decline in appointments and admissions in the year.

Income from charitable activities can be analysed by channel as follows:

Income from:
Society
NHS
Self-Pay
Private Medical Insurance
Total income from charitable
activities		 2024
£’000
2023
£’000
Growth
%
27,989
30,037
-6.8%
8,638
7,699
+12.2%
9,688
10,105
-4.1%
1,183
820
+44.3%
47,498
48,661
-2.4%

The decline in Society income is as a result of the changes referred to above. The decline in Self-Pay income is consistent with the overall decline in the Self-Pay market seen over the period.

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Financial Review

In the opinion of the Governors the overall level of activity and financial position of the Charitable Company remains satisfactory.

The Charitable Company's income for the year from all sources was £48,218k (2023: £49,530k) and within this total income are legacies received during the year amounting to £20k (2023: £1k). The Charitable Company's total expenditure for the year was £48,708k (2023: £48,902k). For the year, there was a net deficit of £490k (2023: £628k surplus). The net asset position at the 31 December 2024 was £15,390k (2023: £15,880k).

The Charitable Company's principal source of Income is from clinical services and treatment provided to Society members, private patients and NHS patients. Unlike the previous years, BHT received no voluntary donations from the Society (2023: £331k). The Charitable Company's Statement of Financial Activities for the year is set out on page 24.

Reserves Policy

As at 31 December 2024, BHT held £7,427k (2023: £6,841k) in free reserves (net assets excluding fixed assets and restricted funds). BHT has a target Free Reserves Policy equivalent to 3.0 x monthly running costs (all hospital costs excluding directly variable costs). At 31 December 2024 the level of Reserves was equivalent to 2.9 x monthly running costs (2023: 2.8 x)

The current ratio (current assets: current liabilities) target of 2.0 was exceeded at 31 December 2024 with a ratio of 3.1 (2023: 2.7).

Going Concern

The Governors are required to assess the ability of BHT to continue as a going concern as part of the annual accounts preparation process (detailed information is provided in the going concern note within the Statement of Accounting Policies).

The Governors have considered, the forecasted financial position to the end of 2026, this being at least 12 months from the date of signing of the financial statements and based on the actual performance to 31 March 2025. The assessment has been made on a prudent view, and this shows that cash levels are expected to remain above the monthly minimum target of £2m throughout this period. The Society has agreed, through a Letter of Comfort, to support the Hospital with a further £5m if required at any point during this period. The Governors are satisfied with the level of support that this letter provides.

On 7 February 2025 BHT entered into an agreement with the Society for the transfer of the business and the assets of the Hospital to a subsidiary of the Society. This transaction is not as a result of any financial issues and there is no intention for the business of the hospital to cease at any time in the future. The agreed consideration for the sale of the hospital is £1 plus the agreement to bear the full amount of the deficit of the Benenden Healthcare Pension Plan by the Society. At the 31 December 2024 the deficit, as calculated in line with FRS102, attributed to the Hospital was £5,170k. The transaction has been approved by the Charity Commission and is expected to complete before the end of 2025.

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Going Concern (continued)

After the transaction is complete the Charitable Company will continue to operate with the objective of the improvement of health and wellbeing of the patients of Benenden Hospital, e.g. through the donation of medical equipment.

Having considered the future financial projections and the funding provided by the Society to support the financial operations, the Governors have determined that it remains appropriate to adopt the going concern basis in preparing the financial statements.

Future Plans

Vision

The vision of BHT is to be the South East’s leading private hospital, renowned for excellence.

Strategy

The Hospital’s 5-year plan to 2028 is based on three key strategic imperatives which are set out on page 4 and considered below.

Excellence

The Hospital’s commitment to excellence is demonstrated by its key accreditations. The Hospital is rated as Outstanding by the Care Quality Commission (CQC), has been awarded a Joint Advisory Group accreditation for gastrointestinal endoscopy and a National Joint Registry gold award and recently received a gold award from Investors in People for “We Invest in Wellbeing”.

Over the next three years the Hospital will seek to demonstrate its continued excellence by obtaining further accreditations across all main clinical areas.

Growth

We continue to develop existing services and add new ones, for example investment in the ROSA robot for knee replacements, and we work closely with the Society, the NHS and Private Medical Insurers to better serve their patients.

In December 2024 the Society made changes to the services provided to its members. This will reduce income from the Society by approximately £2.5m in 2025. BHT’s growth objectives will ensure that the Hospital continues to develop new income streams to mitigate this impact.

Capability and Efficiency

We will continue to invest in systems and processes that improve the Hospital’s efficiency and ensure that the Charitable Company’s money is spent wisely. This will include further development of the Hospital’s on-line patient portal “My Patient Hub”.

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Reference and Administrative Information

The Board of Governors

Hospital Executive

External Auditors

PricewaterhouseCoopers LLP

Central Square, 29 Wellington Street, Leeds LS1 4DL.

Internal Auditors

RSM Risk Assurance Services LLP

5[th] Floor, Central Square, 29 Wellington Street, Leeds, LS1 4DL

Bankers

National Westminster Bank PLC

South Essex Commercial Office, 3[rd] Floor Phoenix Place, Christopher Martin Road, Basildon, SS14 3GQ

Solicitors

Brachers LLP

Somerfield House, 59 London Road, Maidstone, ME16 8JH

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Reference and Administrative Information (continued)

Registered Office & Business Address

The Benenden Hospital Trust Goddard’s Green Road, Benenden, Cranbrook, TN17 4AX

Telephone: 01580 230661

Website: www.benendenhospital.org.uk

Registered number: 3454120

Charity number: 1065995

Structure, Governance and Management

Structure

BHT was incorporated in the United Kingdom on 23 October 1997 (company number 3454120) and was registered as a Charitable Company by the Charity Commissioners on 20 November 1997 (registered number 1065995). The Articles of Association, as amended by a special resolution dated 27 February 2014, govern the Charitable Company.

On the 1 July 2003 BHT became a controlled body of The Benenden Healthcare Society Limited which is an incorporated Friendly Society, registered under the Friendly Societies Act 1992 (registered number 480F). Transactions with related parties are set out in note 22 to the Financial Statements.

Appointment of Governors

The Governors are appointed in accordance with the Charitable Company the Charitable Company’ Articles of Association. The number of the Governors must not be less than three but is not subject to any maximum. Appointments are reviewed every two years and Governors are either re-appointed or replaced with new appointees. Governors are able to serve up to a maximum term of eight years. In line with the Society’s own articles, aligned with its regulator as a Friendly Society, the Society shall appoint the majority of the Governors and may remove or replace any person it appoints.

Following a recruitment and interview process BHT may by ordinary resolution, appoint a person(s) who is willing to act to be a Governor either to fill a vacancy or as an additional Governor providing that there is always a majority of Society nominated Governors on the Board. No person shall be appointed or re-appointed a Governor at any general meeting unless they are recommended by the Board of Governors following a recommendation from the Nominations Committee.

New appointees undergo an induction programme to BHT and together with existing Governors periodically undertake training courses to understand the duties and responsibilities of Governors.

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Structure, Governance and Management (continued)

The arrangements for setting the pay and remuneration of the Hospital’s key management and personnel are set out in the Remuneration & Nominations Committee section on page 11.

Hospital Audit Committee

The Governors have an established Audit Committee. This is a sub-committee of the Board and is responsible for ensuring effective systems of internal control, inspection and reporting are maintained, including compliance testing to safeguard the assets of the Hospital. Additionally, the Audit Committee is responsible for ensuring that the Charitable Company’s affairs comply with the Companies Act 2006 and the Charities Statement of Recommended Practice (FRS102).

The Audit Committee also is responsible for review of risk and receives reports from the independent internal auditor, RSM Risk Assurance Services LLP, who reviews key systems and potential risks based on a programme determined by the Audit Committee in conjunction with the internal auditor. Minutes of the Audit Committee are submitted to the Governors and a summary report is presented to the Group Audit and Risk Committee of the Society. The Audit Committee meets with the external auditor and receives a management report following their year end audit.

The current members of the Audit Committee are: Governors, Mr A Pilgrim (Chair), Mr P Rich and Ms M Dodd.

Remuneration & Nominations Committee

The Governors have an established Remuneration Committee and a Nominations Committee. The Remuneration Committee reviews the annual pay award to staff with a recommendation made to the Board of Governors to approve. Plus, it sets the remuneration to attract the right calibre of individuals to senior positions. The Nominations Committee considers the knowledge and skills requirements of the Governors and Hospital Executive and ensuring the organisation is fit for purpose to meet the workforce needs of the future.

The current members of the Remuneration Committee and the Nominations Committee are: Governors, Ms A Hays (Chair), Mrs P Clark and Ms M Dodd.

Clinical Governance

The Hospital has effective governance systems in place which oversee all components of risk management, including patient safety, infection control, complaints, claims, patient information and internal and external regulation.

The multi-disciplinary Quality and Safety Committee meet on a quarterly basis and is attended by Mrs P Clark on behalf of the Board of Governors. All Governors are invited to attend and do so on an ad hoc basis.

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Structure, Governance and Management (continued)

This committee has responsibility for all quality and risk components and reviews all governance related reports looking at patient experience and safety, infection prevention and control, resuscitation, radiation protection safety, medicines management, clinical audit, and occupational health.

The committee receives and reviews proposals for new diagnostic and treatment offerings and is also provided with information on learning arising from incidents, audits, and assessments, and how findings are shared to support continuous improvement.

Risk Management

The Governors have an established Risk Management Framework which, supported by a Board Assurance Framework and the full Risk Register, aims to enhance the quality of services offered to patients. BHT recognises the need for robust systems and processes to support continuous risk management, enabling members of staff to integrate risk management into their daily activities and support better decision making through a good understanding of risks and their likely impact.

The Governors have set out in its risk management policy, its risk appetite and has adopted a formal risk matrix to allow risks to be fully understood and evaluated against that risk appetite. The following are considered the principal risks and included in the Hospital’s Board Assurance Framework:

Framework:
Risk Mitigation
Society Service Changes
Changes to the services
provided by the Society to its
Members may have a negative
impact on income.		 Under the growth objective of the Hospital’s strategy,
detailed plans have been put in place to develop
alternative income streams to compensate for any
income that could be lost as a result of any changes.
Quality of Care
Failure to meet regulatory
guidance could compromise
the quality of care and
treatment offered by BHT and
could lead to suspension of
regulated activity and financial
penalties.		 To mitigate this risk, a robust internal governance and
assurance framework is maintained, demonstrating
adherence with the necessary quality and safety
standards. Prominence is placed on continuous
improvement, providing the best possible patient care.
Cyber Security
Cyber security risk is increasing,
driven by global connectivity
and use of cloud services. Cyber
threats can come from any level
in the organisation and could
result in data theft/loss or
corruption, leading to financial
breaches, reputational
damage, or disruption to
services.		 As BHT moves from fully on site, ringfenced IT systems to
use of cloud-based solutions the Governors have
recognised the need to significantly increase its cyber
security cover. Investment has continued to be made
throughout 2024 as part of an established IT plan in
conjunction with the Society to ensure much greater
control and scrutiny over cyber risk.
Regular penetration testing and phishing exercises are
carried out. BHT holds Cyber Essentials Plus
accreditation.

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Structure, Governance and Management (continued)

Risk

Mitigation

Self-Pay Market Risk Recent market data from the In addition to growing Self-Pay services, with investment Private Healthcare Information in new technology such as the ROSA robot, the Hospital Network (PHIN) indicates that is expanding services offered to NHS patients in order to since its peak following COVID, mitigate the risk of declining Self-Pay demand. In the UK market for Self-Pay December 2024 the hospital reintroduced treatments has started to Gynaecological services for NHS patients, an area of decline. specific concern in the current NHS backlog.

Management

The strategy of the Charitable Company is set by the Governors and implemented by the Hospital Executive. The Strategic Report, as required by the Companies Act, is included in this Governor’s Report. The Governors met formally on a total of 5 occasions during 2024 (2023 : 6). The Governors approved the strategies and major policies related to the running of the Hospital, including the Standing Financial Instructions and the budget for the year ending 31 December 2024.

The Governors monitor performance in all key areas through key performance indicators and receive regular reports on Activity, Finance, Complaints, Risk Management, Governance, and Health & Safety from the Hospital Executive.

Attendance at Meetings

The record of attendance at Board and major Board Committee Meetings during the year ended 31 December 2024 is stated in the table below:

Board Board Audit Committee Audit Committee Rem & Nom
Committee		 Rem & Nom
Committee
Called to Attended Called to Attended Called to Attended
Ms A Hays 5 5 - - 2 2
Mr R Andrews 2 2 - - - -
Mrs P Clark 5 4 3 3 2 2
Ms M Dodd 3 3 1 1 1 1
Mrs K Horsford 2 2 - - 1 1
Dr D Marmion 5 3 - - - -
Mr A Pilgrim 5 4 4 4 - -
Mr P Rich 5 5 4 4 - -

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Insurance of Governors

The Hospital maintains insurance for the Governors in respect of their duties as directors and Governors.

Taxation

The Benenden Hospital Trust is a charity within the meaning of Para 1 Schedule 6 Finance Act 2010, Accordingly, the Charitable Company is exempt from taxation in respect of income or capital gains within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. No tax charge arose in the current financial year (2023: £nil).

Governors’ Responsibilities in Relation to the Financial Statements

The Governors (who are also Directors of the Benenden Hospital Trust for the purposes of company law and are also Trustees of the Benenden Hospital Trust) are responsible for preparing a Governor’s annual report and 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”.

Company law requires the Governors to prepare financial statements for each year which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for that period. In preparing the financial statements, the Governors are required to:

The Governors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Governors are responsible for the maintenance and integrity of the corporate and financial information included in the Hospital’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

14

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Section 172 Report

The Governors recognise the best practice outlined in section 172 of the Companies Act 2006 to act in the way which they consider, in good faith, would be most likely to promote the success of the Hospital for the benefit of all its stakeholders including its employees, suppliers, customers, community and environment. In doing so, they will have regard to:

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Streamlined Energy and Carbon Reporting

In accordance with the Streamlined Energy and Carbon Reporting (“SECR”) requirements, the Hospital sets out its emissions for the years ended 31 December 2023 and 2024 below. The main metric we use to understand our emissions is our carbon footprint, measured in tCO2e (tonnes of carbon dioxide equivalent). Despite a significant reduction in emissions from anaesthetic gases, both Scope 1 and Scope 2 emissions increased in 2024 as a result of higher usage of electricity and diesel and higher losses of air-conditioning gases. The largest use of electricity is the hospital’s air source heat/cooling pumps. Usage increased in 2024 as a result of a warmer than normal spring and a cold autumn, particularly in November. Red diesel is used to fuel the hospital’s backup generator which was used more in 2024 due to intermittent issues with the electricity supply.

Operational Emissions
Scope 1Combustion of gas and diesel
Scope 1Anaesthetic gases
Scope 1Air-conditioning gases
Scope 1Passenger Vehicles
Scope 2Purchased electricity (location based)
Total
Intensity Ratio– revenues (per £million)
Intensity Ratio– patient appointments (per
appointment)
Intensity Ratio– patient admissions (per admission)
Total Energy Used(MWh)		 2024
Tonnes
CO2e
2023
Tonnes
CO2e
682.90
653.10
20.30
102.75
156.23
86.58
0.12
0.12
579.16
511.79
1,438.71
1,354.34
29.84
27.34
0.020
0.019
0.16
0.13
6,239.86
6,092.51

Methodology

We have followed the government’s guidelines on Streamlined Energy and Carbon Reporting.

We buy all of our gas and electricity directly and have used kWh figures from our providers. We have estimated carbon emissions based on the government’s conversion factors.

16

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Streamlined Energy and Carbon Reporting (continued)

Usage of anaesthetic gases has been calculated based on purchases of each type of gas in the year. We have estimated carbon emissions using the Royal College of Anaesthetists’ emissions calculator which is itself based on the government’s conversion factors. Allowance has been made for the amount of anaesthetic gases captured by the hospital’s gas capture system.

Intensity Ratio

We have used revenue, number of patient appointments and number of patient admissions to calculate the emissions intensity ratio as these reflect the level of activity at the Hospital.

Energy Efficient Actions

The following actions were completed in 2024 to reduce the Hospital’s impact on the environment:

17

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

The Board of Governors Annual Report 2024

Statement as to Disclosure to our Auditor

In so far as the Governors are aware at the time of approving our Governors’ Annual Report:

By order of the Board of Governors

Ms Angela Hays

Chair of the Board of Governors of the Benenden Hospital Trust

13 May 2025

18

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Independent Auditor’s Report to the Members of The Benenden Hospital Trust

Report on the audit of the Financial Statements

Opinion

In our opinion, The Benenden Hospital Trusts financial statements (the “financial statements”):

We have audited the financial statements, included within the Annual Report and Financial Statements (the “Annual Report”), which comprise: the balance sheet as at 31 December 2024; the statement of financial activities (incorporating an income and expenditure account), the cash flow statement for the year then ended 31 December 2024; the accounting policies; and the notes to the financial statements, which include a description of significant accounting policies/ comprising material accounting policy information and other explanatory information.

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remained independent of the Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

19

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Independent Auditor’s Report to the Members of The Benenden Hospital Trust

Conclusion relating to going concern

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charitable Company’s ability to continue as a going concern for a period of at least twelve months from the date on which the financial statements are authorised for issue.

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the Charitable Company’s ability to continue as a going concern.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Reporting on other information

The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report based on these responsibilities.

With respect to the Board of Governors Annual Report, we also considered whether the disclosures required by the UK Companies Act 2006 and Charities Act 2011 have been included.

Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report certain opinions and matters as described below.

The Board of Governors Annual Report

In our opinion, based on the work undertaken in the course of the audit, the information given in the Board of Governors Annual Report for the period ended 31 December 2024 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements.

20

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Independent Auditor’s Report to the Members of The Benenden Hospital Trust

In light of the knowledge and understanding of the Charitable Company and its environment obtained in the course of the audit, we did not identify any material misstatements in the Board of Governors Annual Report.

Responsibilities for the financial statements and the audit

Responsibilities of the Governors for the financial statements

As explained more fully in the Governors'’ Responsibilities Statement, the Governors (who are also the directors of the charitable company for the purposes of company law and trustees for the purposes of charity law) are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The trustees are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Governors are responsible for assessing the Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the Charitable Company and its industry, we identified the principal risks of non-compliance with laws and regulations related to the Charities Act 2011, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the UK Charities Act, UK Companies Act, and tax legislation. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journals to manipulate financial results and potential management bias in accounting estimates. Audit procedures performed by the engagement team included:

21

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Independent Auditor’s Report to the Members of The Benenden Hospital Trust

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.

Use of this report

This report, including the opinions, has been prepared for and only for the company’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.

22

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Independent Auditor’s Report to the Members of The Benenden Hospital Trust

Other required reporting

Companies Act 2006 exception reporting

Under the Companies Act 2006 we are required to report to you if, in our opinion:

We have no exceptions to report arising from this responsibility.

Gary Shaw (Senior statutory auditor) For and on behalf of PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors Leeds

13 May 2025

23

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Statement of Financial Activities For the year ended 31 December 2024

Restricted Unrestricted Total Total
Funds Funds Funds Funds
Notes 2024
£’000		 2024
£’000		 2024
£’000		 2023
£’000
Income & Endowments from
Donations and Legacies 3 - 35 35 357
Income from Charitable Activities - 47,498 47,498 48,661
Other Trading Activities - 378 378 406
Interest Received - 307 307 106
Total Income - 48,218 48,218 49,530
Expenditure on Charitable
Activities 4 - (48,708) (48,708) (48,902)
Net (Expenditure)/Income & Net
movement in funds for the year 6 - (490) (490) 628
Reconciliation of Funds
Total Funds Brought Forward 59 15,821 15,880 15,252
Total Funds Carried Forward 14,15 59 15,331 15,390 15,880

All activities continue to relate to continuing operations.

The Statement of Financial Activities includes all gains and losses recognised in the year and the prior year.

The notes on pages 27 to 44 form part of the financial statements. See note 13 for a comparative Statement of Financial Activities for the year ended 31 December 2023 analysed by funds.

24

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Balance Sheet

As at 31 December 2024

2024 2023
Notes £’000 £’000
Fixed Assets
Tangible Assets 8 7,189 7,866
Intangible Assets 9 714 1,114
7,903 8,980
Current Assets
Stock 10 898 669
Debtors 11 3,181 3,506
Cash at Bank & in Hand 18 7,058 6,676
Total Current Assets 11,137 10,851
Creditors
Amounts Falling Due Within One Year 12 (3,650) (3,951)
Net Current Assets 7,487 6,900
Net Assets 15 15,390 15,880
The Funds of the Charity
Restricted Funds 14 59 59
Unrestricted Funds 14 15,331 15,821
Total Charity Funds 15,390 15,880

These Financial Statements of The Benenden Hospital Trust were approved by the Governors and authorised for issue on 13 May 2025 and signed on its behalf.

Ms Angela Hays

Chair of the Board of Governors of The Benenden Hospital Trust

The notes on pages 27 to 44 form part of these Financial Statements

25

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Cash Flow Statement

For the year ended 31 December 2024

Notes
Net Cash Flow from Operating Activities
16
Cash Flows from Investing Activities
Returns on Investments
17
Capital Expenditure
17
Cash used in Investing Activities
Increase in Cash & Cash Equivalents in the Year
Cash & Cash Equivalents at the
Start of the Year
Total Cash & Cash Equivalents at the
End of the Year
18		 2024
£’000
2023
£’000
976
2,615
307
106
(901)
(1,006)
(594)
(900)
382
1,715
6,676
4,961
7,058
6,676

The notes on pages 27 to 44 form part of these Financial Statements

26

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

1 Statement of Accounting Policies

a. Basis of Preparation of Financial Statements

The Benenden Hospital Trust, a public benefit entity, is incorporated in England and Wales as a company limited by guarantee not having a share capital. There are currently 5 Governors or Trustees who are also members of the company. Each member has undertaken to contribute to the assets in the event of winding up a sum not exceeding £1. The Charitable Company is a registered charity. The registered office is given on page 10.

The Financial Statements are prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 – effective 1 January 2019) and the Companies Act 2006. The Benenden Hospital Trust (“BHT” or “Hospital” or “the Charitable Company”) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b. Preparation of the Accounts on a Going Concern Basis

The accounting rules require the Governors to assess, as part of the accounts production process, the Hospital’s ability to continue as a going concern.

On an on-going basis BHT monitors performance against the annual budget and reviews the out-turn position. During the year 3 updated quarterly forecasts are prepared taking account of the actual performance to date, latest demand estimates and run rates for income and expenses

The Governors have considered the latest forecast, based on actuals to 28 February 2025, against the original budgeted/planned position to 31 December 2025. Currently it is not expected that the Hospital will require any further support from the Society but support up to a level of £5m is available if required to enable the Hospital to meet its obligations as they fall due.

On 7 February 2025 the Charitable Company entered into an agreement with the Society for the transfer of the business and the assets of the Hospital to a subsidiary of the Society. This transaction is not as a result of any financial issues and there is no intention for the business of the hospital to cease at any time in the future. The transaction has been approved by the Charity Commission and is expected to complete before the end of 2025.

After the transaction is complete the Charitable Company will continue to operate with the objective of the improvement of health and wellbeing of the patients of Benenden Hospital, e.g. through the donation of medical equipment.

Having considered the future financial projections and the funding support provided by the Society to support the financial operations, the Governors have a reasonable expectation that the Charitable Company has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt a going concern basis in preparing the financial statements.

27

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

1 Statement of Accounting Policies

c. Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the Governors in furtherance of the general objectives of the Charitable Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Governors for particular purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charitable Company for particular purposes.

d. Income from Charitable Activities

Income is recognised in the period in which the Hospital has entitlement to the income, the amount of income can be measured reliably, and it is probable that the income will be received.

Income generated from patient services in the operation of an independent hospital is recognised to the extent that it is probable that the economic benefits will flow to the Hospital and the revenue can be reliably measured. It is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

e. Donations & Legacies

Donations are recognised when the Hospital has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is recognised where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Hospital and it is probable that those conditions will be fulfilled in the reporting period.

Donations received from the Society in 2023 were used to fund capital expenditure and support winter fuel payments from Jan to Mar 2023. No such donations were received in 2024.

Legacies are included in the statement of financial activities when the Hospital is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity.

f. Interest Received

Interest on funds held on deposit is accrued as earned and added to the source fund

28

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

1 Statement of Accounting Policies

g. Income from Other Trading Activities

Income from other trading activities comprises revenue recognised by the Charitable Company in respect of goods and services supplied during the year, principally income from the Hospital canteen, exclusive of Value Added Tax and trade discounts.

h. Expenditure on Charitable Activities

All expenditure is accounted for on an accruals basis and is included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources. Governance costs are those incurred in connection with administration of the Charitable Company and compliance with constitutional and statutory requirements.

i. Pensions

BHT and the Society are participating employers in a pension scheme (“the scheme”) which provides both a defined benefit and a defined contribution pension scheme that is contracted out of the State Scheme.

The funds held under the defined benefit scheme are valued every three years by a professionally qualified independent actuary, with the rates of contribution payable then determined by the Pension Trustees on the advice of the independent actuary. The last actuarial valuation was performed on 31 March 2023 by Hymans Robertson LLP. The Society is the principal employer and, in line with FRS102, is considered the sponsoring employer of the scheme as it recognises the net defined benefit cost of the scheme and there is no contractual agreement or stated policy for recharging the section 28 net defined benefit cost. Consequently, the Society has recognised the FRS102 deficit of £6,802k (2023: £12,130k) at 31 December 2024, of which BHT’s share is £5,170k (2023: £9,219k). The Board of Governors agreed that the Hospital would make deficit payments in relation to the pension and payments which started in March 2021.

Further details of the Group defined benefit scheme are disclosed in note 21 of the financial statements of the Society.

The pension deficit payments are recognised in the statement of financial activities as they are incurred. The Charitable Company recognised a total pension cost in the year ended 31 December 2024 of £2,418k (2023 : £3,144k).

j. Operating Leases

Rentals under operating leases are charged to the statement of financial activities on a straight-line basis over the lease term.

29

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

1 Statement of Accounting Policies

k. Tangible Fixed Assets & Depreciation

The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

The Capitalisation Policy capitalises individual equipment purchases or groups of like purchases with a value of £5,000 or greater.

Depreciation is calculated to write off the cost or valuation of tangible fixed assets, less their estimated residual values, on a straight-line basis over the expected useful economic lives of the assets concerned. The principal annual rates used for this purpose are:

Leasehold Improvements 4%
Medical Equipment 20%
Computer Equipment 33%
Fixtures & Fittings 14%
Motor vehicles 25%

l. Intangible Fixed Assets & Depreciation

Intangible fixed assets represent computer software and licences. The cost of these assets is their purchase cost, together with any incidental costs of acquisition such as development and implementation costs.

Computer software and licences are amortised on a straight-line basis over their expected useful economic life, at an annual rate of 20%.

m. Stock

Medical consumables and pharmacy stocks are stated at the lower of cost and net realisable value. Where necessary, provision is made for obsolete, slow moving and defective stocks.

n. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

o. Cash at Bank & in Hand

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

p. Trade Creditors & Provisions

Trade creditors and provisions are recognised where the Charitable Company 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.

30

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

1 Statement of Accounting Policies

q. Financial Instruments

BHT does not hold any non-basic financial instruments. The primary financial instruments are cash, receivables from trade debtors and payables to trade creditors and suppliers. The recognition of trade debtors and trade creditors is at cost. Deferred Income, accruals and prepayments are recognised at the amortised cost.

Financial assets and financial liabilities are recognised when the hospital becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

only when there exists a legally enforceable right to set off the recognised amounts and the Hospital intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial liabilities are de-recognised only when the obligation specified in the contract is discharged, cancelled or expires. Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

31

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

2 Critical Judgements & Key Sources of Estimation Uncertainty

Preparation of the financial statements requires the Governors and management to make judgements and estimates. The items in the financial statements where these critical accounting judgements have been made include:

32

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

3 Donations and Legacies

Donations and Legacies
Legacies
Donations – Benenden Healthcare Society
Donations – Rising Mercury Society
Total Donations & Legacies		 2024
£’000
2023
£’000
20
1
-
331
15
25
35
357

There were no restrictions placed on any funds from Donations and Legacies received in 2024.

4 Analysis of Resources Expended by Expenditure Type

Note
Staff Costs
7
Depreciation & Amortisation
Clinical Consultants Fees
Medical Consumables
Clinical Service Contracts
Governance Costs
5
Marketing & Business Development
Rent Payable to Benenden Society
IT Service Costs
Hospital Services
Total Expenditure by Type		 2024
£’000
2023
£’000
17,459
16,864
1,988
2,156
11,668
12,424
7,246
7,164
672
674
187
245
531
507
2,738
2,600
2,197
2,018
4,022
4,250
48,708
48,902

Costs incurred in raising charitable funds are immaterial.

33

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

5 Governance Costs

Governance Costs
Auditor’s remuneration – current year
Auditor’s remuneration – prior years
Internal audit costs
Legal costs		 2024
£’000
2023
£’000
137
125
-
49
31
58
19
13
187
245

6 Net (Expenditure)/Income

Net (expenditure)/income is stated after charging:

et (expenditure)/income is stated after charging:
Note
Depreciation of Tangible Fixed Assets
8
Amortisation of Intangible Fixed Assets
9
Operating Lease Rentals
19
Property Lease Rentals
19		 2024
£’000
2023
£’000
1,588
1,758
400
399
62
59
2,738
2,600

34

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

7 Employees, Staff & Agency Costs

Average monthly number of people employed was as follows:

Clinical Staff
Clinical Support Staff
Administrative Staff
Total Staff Excluding Bank Staff
Average bank staff paid in a month
Average bank staff not paid in a month
Total Bank Staff
Average FTEs (Permanent Staff)
Average FTEs (Bank Staff)
Average Monthly Full Time Equivalent Employees
Staff and agency costs were as follows:
Staff Costs
Social Security Costs
Pension Costs – Defined Benefit
Pension Costs – Defined Contribution
Redundancy Costs (including payment in lieu of notice)
Agency Staff
Total Staff & Agency Costs		 2024
Number
2023
Number
194
190
95
87
122
121
411
398
54
54
25
29
79
83
337
328
13
15
350
343
2024
£’000
2023
£’000
12,893
11,614
1,204
1,067
1,550
1,800
868
1,344
73
171
871
868
17,459
16,864

35

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

7 Employees, Staff & Agency Costs (continued)

The number of employees whose emoluments excluding pension contributions and employers’ national insurance, but including benefits in kind, were in excess of £60,000 in the period was as follows:

2024 2023
Number Number
£60,000 to £70,000 6 6
£70,001 to £80,000 5 2
£80,001 to £90,000 - 1
£100,001 to £110,000 1 -
£110,001 to £120,000 - 1
£120,001 to £130,000 3 1
£130,001 to £140,000 - 1
£160,001 to £170,000 1 -
£220,001 to £230,000 - 1

The key management personnel of BHT are the Governors and the Hospital Executive as set out on page 9. The charity trustees/Governors were not paid and did not receive any other benefits from employment with BHT during 2024 (2023: £nil).

The Hospital Executive received total employee benefits of £754k in 2024 (2023: £733k) of which the Hospital Director was the highest paid employee receiving total employee benefits of £178k (2023: £241k) including £14k in employer’s pension contributions (2023: £17k).

8 Tangible Fixed Assets

Cost
At 1 January 2024
Additions
Disposals
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the Year
Disposals
At 31 December 2024
Net Book Value
At 31 December 2024
At 31 December 2023		 Leasehold
Improvements
£’000
Fixtures, Fittings
& Equipment
£’000
Motor
Vehicles
£’000
Total
£’000
11,022
14,754
85
25,861
54
857
-
911
-
(52)
-
(52)
11,076
15,559
85
26,720
5,797
12,113
85
17,995
444
1,144
-
1,588
-
(52)
-
(52)
6,241
13,205
85
19,531
4,835
2,354
-
7,189
5,225
2,641
-
7,866

36

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

9 Intangible Fixed Assets

Cost
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the Year
At 31 December 2024
Net Book Value
At 31 December 2024
At 31 December 2023		 Computer
software &
licences
£’000
2,006
-
2,006
892
400
1,292
714
1,114

10 Stock

Pharmacy Stock
Medical Consumables Stock
Total Stock		 2024
£’000
2023
£’000
99
56
799
613
898
669

There is no material difference between the carrying value of stock and its replacement cost.

37

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

11 Debtors

1 Debtors
Trade Debtors
Amounts due from Related Parties
Accrued Income and Prepayments
Total Debtors		 2024
£’000
2023
£’000
733
759
1,558
2,042
890
705
3,181
3,506

At 31 December 2024 the total of all amounts due to BHT from the Society was £1,558k (2023: £2,042k) relating to December 2024 activity. Amounts due from the Society are repayable on the 25[th] of the month following the activity and do not incur interest.

12 Creditors: Amounts Falling Due Within One Year

Trade Creditors
Amounts Due to Related Parties
Taxation and Social Security
Other Creditors
Accruals and Deferred Income
Total Creditors		 2024
£’000
2023
£’000
1,301
1,661
83
67
297
288
101
123
1,868
1,812
3,650
3,951

Included in Other Creditors is a provision for professional fees relating to insurance claims of £60k (2023: £94k).

Accruals and Deferred income include an amount of £515k (2023: £413k) representing amounts received from Private Patients in advance of treatments being carried out.

38

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

13 Comparative Statement of Financial Activities

The Statement of Financial Activities for the year ended 31 December 2023 analysed by funds is set out below:

unds is set out below:
Restricted Unrestricted Total
Funds Funds Funds
2023 2023 2023
£’000 £’000 £’000
Income & Endowments from
Donations and Legacies - 357 357
Income from Charitable Activities - 48,661 48,661
Other Trading Activities - 406 406
Interest Received - 106 106
Total Income - 49,530 49,530
Expenditure on Charitable
Activities - (48,902) (48,902)
Net Income & Net movement in
funds for the year - 628 628
Reconciliation of Funds
Total Funds Brought Forward 59 15,193 15,252
Total Funds Carried Forward 59 15,821 15,880

14 Statement of Funds

Designated Funds
General Funds
Unrestricted Funds
Restricted Funds
Total of Net Assets		 Brought
Forward
1Jan 2024
£’000
Incoming
Resources
£’000
Resources
Expended
£’000
Carried
Forward
31 Dec 2024
£’000
-
-
-
-
15,821
48,218
(48,708)
15,331
15,821
48,218
(48,708)
15,331
59
-
-
59
15,880
48,218
(48,708)
15,390

39

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

15 Analysis of Net Assets Between Funds

Fixed Assets
Current Assets
Current Liabilities
Total of Net Assets		 Restricted
Funds
2024
£’000
Unrestricted
Funds
2024
£’000
Total
Funds
2024
£’000
Total
Funds
2023
£’000
-
7,903
7,903
8,980
59
11,078
11,137
10,851
-
(3,650)
(3,650)
(3,951)
59
15,331
15,390
15,880

16 Net Cash Flow from Operating Activities

Net Incoming Resources
Returns on Investments & Servicing of Finance
Depreciation of Tangible Fixed Assets
Amortisation of Intangible Fixed Assets
Profit on Disposal of Tangible Fixed Assets
(Increase) in Stocks
(Increase)/Decrease in Debtors
Decrease/(Increase) in Amounts Owed by Related Parties
(Decrease)/Increase in Trade Creditors
Increase/(Decrease) in Amounts Owed to Related Parties
Increase in Social Security & Other Taxes
Increase/(Decrease) in Other Creditors, Accruals and
Deferred Income
Net Cash Inflow from Operations		 2024
£’000
2023
£’000
(490)
628
(307)
(106)
1,588
1,758
400
399
(10)
(38)
(229)
(141)
(159)
70
484
(223)
(360)
636
16
(328)
9
17
34
(57)
976
2,615

40

The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

17 Analysis of Cash Flows for Headings Netted in Cash Flow Statement

Returns on Investments
Interest Received
Capital Expenditure
Purchase of Tangible Fixed Assets
Purchase of Intangible Fixed Assets
Proceeds from Sale of Tangible Fixed Assets		 2024
£’000
2023
£’000
307
106
(911)
(1,044)
-
-
10
38
(901)
(1,006)

18 Analysis of Changes in Net Debt

Cash at Bank & in Hand
Total Net Funds		 1 January
2024
£’000
Cash Flow
£’000
31 December
2024
£’000
6,676
382
7,058
6,676
382
7,058

19 Financial Commitments

At 31 December 2024 the Charitable Company had total commitments under noncancellable operating leases as follows:

Amounts Due:
Within 1 year
Between 1 and 5 years
After more than 5 Years		 Land & Buildings
Other
2024
£’000
2023
£’000
2024
£’000
2023
£’000
2,837
2,738
62
62
11,346
10,951
68
129
36,875
38,330
-
-
51,058
52,019
130
191

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

20 Financial Instruments

The charity uses financial instruments to invest liquid asset balances and generate income through the return generated by these financial instruments.

Financial assets and liabilities are measured on an ongoing basis either at fair value or at amortised cost. The table below analyses the charity’s assets and liabilities at 31 December 2024 by financial classification:

Financial Assets
Cash and cash equivalents
Amounts receivable for medical
services
Other Assets
Total Financial Assets
Financial Liabilities
Amounts owed to suppliers
Other Liabilities
Total Financial Liabilities		 Held at amortised cost
Loans &
Receivables
£’000
Financial assets
& liabilities at
amortised cost
£’000
Total
£’000
7,058
-
7,058
733
-
733
-
11,249
11,249
7,791
11,249
19,040
-
1,301
1,301
-
2,349
2,349
-
3,650
3,650

21 Pension Obligations

The charity participates in a defined benefit and defined contribution scheme (please note that the defined benefit scheme closed for future accruals at 31 December 2018 with no more contributions to it from 1 January 2019).

The total net cost for the charity for the year was £2,418k (2023: £3,144k), of which £1,550k (2023: £1,800k) was in respect of payments to the defined benefit scheme and £868k (£1,344k) was in respect of the defined contribution plan.

Assets of the defined benefit pension scheme (“the scheme”) are held in The Benenden Healthcare Pension Plan. The scheme also administers the pension arrangements of the Society. The scheme is currently in significant deficit and requires the Benenden Hospital Trust to make extra contributions to the scheme as part of the recovery plan. The actuaries have confirmed that it is possible to separate the BHT’s assets and liabilities in the scheme and at 31 December 2024 the deficit attributable to BHT was £5,170 k (2023: £9,219k). However, disclosure in these accounts is made on the basis that it is a defined benefit scheme with the deficit of £6,802k (2023: £12,130k) being recognised by the deemed sponsoring employer, the Society.

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

22 Related Party Transactions

The Benenden Hospital Trust (“BHT”) is a controlled body of The Benenden Healthcare Society Limited (“Society”) who are an incorporated friendly society, registered under the Friendly Societies Act 1992, registered number 480F. Control is exercised by the Society through the power to appoint or remove the majority of the Hospital’s trustees and by the Society being a member of the Hospital Trust. The Society’s principal activity is the provision of medical and well-being services to its members.

The Society had the following transactions with the Charitable Company during the year ended 31 December 2024:

BHT leases the hospital site from the Society under a 25 year lease which commenced on 1 January 2018 and expires in July 2042, with annual rent starting at £3,103k and subject to annual increases in line with RPI. The lease was revalued at 31 January 2021 and the annual rental reduced to £2,300k. In accordance with the lease terms, a market rent review was carried out in November 2023 and the annual rent revalued at £2,600k. Future rental payments will continue to be subject to annual increases in line with RPI and market valuation every 5 years.

At 31 December 2024 the total of all amounts due to BHT from the Society was £1,558k (2023: £2,042k).

At 31 December 2024 the total of all amounts due from BHT to the Society was £83k (2 023: £67k).

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The Benenden Hospital Trust (A Company Limited by Guarantee)

Registered Number: 03454120 Charity Number: 1065995

Notes to the Financial Statements For the year ended 31 December 2024

23 Events After The Balance Sheet Date

On 7 February 2025 the Charitable Company entered into an agreement with the Society for the transfer of the business and the assets of the Hospital. The agreed consideration for the sale of the hospital is £1 plus the assumption by the Society of the full amount of the deficit of the Benenden Healthcare Pension Plan (see note 21). The transaction has been approved by the Charity Commission and is expected to complete before the end of 2025.

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