COMPANY REGISTRATION NUMBER: 03511461 CHARITY REGISTRATION NUMBER: 1068523 The Guild of Friends of the Bristol Royal Hospital for Sick Children Company Limited by Guarantee Unaudited Financial Statements 31 March 2025 The Guild of Friends of the Bristol Royal Hospital for Sick Children Company Limited by Guarantee Financial Statements Year ended 31 March 2025 Page Members, annual report (incorporating the director's report} Independent examiner's report to the members Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The Guild of Friends of the Bristol Royal Hospital for Sick Children Company Limited by Guarantee Members. Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 The members, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2025 Reference and administrative details R8gistore(I charity name Charity registration number Company registration number Prlnclpal office and reglstered Middle Lodge office Fersfield The Guild of Friends of the Bristol Royal Hospital for Sick Children 1068523 03511461 Bath BA2 SAR The members Mrs C Bartelot Mrs L Forbes Mrs G Mccaldin Miss C Taylor Mrs L Thornhill (Volunteer Member) Mrs J Tovey Committeè of Management.. Co-chairman Mrs C Bartelol & Mrs L Forbes Hon Treasurer Mr J Adams Secretary Miss C Taylor Committee Mrs J Tovey , Mrs G Mccaldin Ms O Hall, Mrs H Thornhill, Mrs Rebecca 8arwick-Barrett, Mrs S8r8h Campbell, Mrs L Thornhill (Volunteer Member) Company secretary Mis5 C Taylor Indep•ndant examlner David E Seabright & Co INailsea> Limited Barley Wcrf)d Stables Long Lane Wrlngton North Somerset BS40 5SA Structure, governance and management The charity is run by the members of the Management Committee who are directors for the purpose of company law and trustees for the purposes of charity law. The Committee members who served during the year are set on on page 1, The Committee has the power to appoint additional members as it considers necessary. Committee meetings generally take place every two to three months. Committee members are all unpaid volunteers and may claim reasonable out of pocket expenses. Any Committee member providing professional services beyond their normal work as a trusleeldirector may receive reasonable and proper remuneration for those services. No Committee member re￿iVed any such remuneration during the year. Objectives and aclivities The charitable company's governing documents are a Memorandum and Articles of Association dated 10th February 1998. The Object3 of the Charity are to obtain funds to be expended a3 follows- For the benefit of children who are patients in the Bristol Children's Hospital., To provide assistance lo Ihe parents or guardians of such children- To provide assistance or amenities at the Hospital Achievements and performance The charity's income is derived from fundraising aclivities, donations and bequests and investment income. Expenditure comprises the costs associated with fundraising activities, operational costs and distributions paid in furtherance of the charity's Objects. Donallons and bequests are shown In Note 5 to the accounts. The Charity has run its normal fundraising activities. including participating in a highly successful Mendip Fair in November. The Charity raised a record £10,416 in proceeds from the Fair, in addition to a £1,000 donalion from Le Marchant Trust. The Charity was also in receipt of a number of bequeathments and one off donations raised through sponsored sporting events totalling £4,499. Distribulians were paid out to the hospital in the sum of £21,653. Together this results in an overall net surplus for the year of £3,17212023 net deficit £33,984). Distributions to the hospital paid out during the year in accordance with the charity's Objects are shown in Note 8 and comprised the following Branded crockery and cutlery for the parents, room (£6,001.74) A new air hockey table for thé play centre (£695) Toys and other items for the play centre at Christmas1£1,805.73) Travel & Subsistence for families with children at the hospital (£10,000) Mother's D8y & ward gifts Increased our funding of crafts & activities for the hospital Play Department at Christmas and Easter and at Iwo other points during the year1£1,101 .39) In addition, the Charity funded powdered rnilk and coffeeltea for lh8 Friends for Parents tolalling £771.04 and provided £1,800 for the provision of the POD entertainer, Financial review In order to rationalise and optimise our income from our portfolio, we have continued to engage Evelyn Partners to manage our investments. The Committee considers the financial position of the charity to be strong because of the Charily's investment portfolio, limited operating costs and strong balan￿ sheet including significant cash reserves. During the last accounting period, the portfolio decreased in value by only £111 from £247,186 to £247,075. Geopolitical uncertainty, rising interest rates and inflation have impacted Ihe economic landscape and influenced the performan￿ of the markets. Equities performed strongly in 2024 but with the portfolio's income focus, there may have been a missed opportunity for capital growth. The committee will Gontinue to monitor and review the focus of the portfolio with guidance from our investment manager. Over the last four years. Sin￿ 1 st April 2020, despite the volatility we have experienced in the financial markets, and the world in general, the portfolio has returned +26 % , which is a very positive return, but it has lagged that of the benchmark at +34¥0. It has been a difficult environment for income paying assets over this period, due to the interest rate hiking cycle by the world's central banks as they have prioritised reducing inflation. Despite this, the portfolio has continued to produ￿ regular income averaging £992.75 per month In 2024 (£926.51 per month In 2023). Plans for fulure periods The Guild has regular commitments to provide monthly financial assistance for the social workers. support for the Angels in Art decorative star project, the funding of professional entertainers (POD) and powdered milk and coffeeltea for the Friends of Parents. The Guild is planning to conduct fundraising in Ihe usual way in the coming flnancial year. Although the status of The Mendip Falr remains uncertain in the longer term. it wlll run as normal in November 2024. Future planned purchases OF equipment include the following.. New shelving at Ihe hospital The Guild plans to buy a range of items to support the Activity Centre al the hospital Incr8ased donations to S(￿la1 works in the LIAISE Departmenl to match the increas8d cost of subsistenc8 and travel faced by parents The purchase of capital equipment required by the hospital Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The members, annual report was approved on 1 July 2025 and signed on behalf of the board of trustees by: Mr J Adams {Hon. Treasurer) The Guild of Friends of the Bristol Royal Hospital for Sick Children Company Limited by Guarantee Independent Examiner's Report to the Members of The Guild of Friends of the Bristol Royal Hospital for Sick Children Year ended 31 March 2025 I report to the members on my examination of the financial statements of The Guild of Friends of the Bristol Royal Hospital for Sick Children ('the charity'> for the year ended 31 March 2025. R85ponsibilities and basis of report As the members of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'lhe 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act,). In carrying out my examinalion I have followed the 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 malters have come to my attention in connection with the examination giving me cause to believe.. accounting r8cords wer8 not kept in respect of th8 charity as required by section 386 of the 2006 Act,. or 2. the financial stalements do not accord with those records., or 3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement thal the accounts glve a 'irue and fairf view which Is noi a matter considered as part of an independent examination. or 4. the financial statements hav@ not b@8n prepared in accordanc8 with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charitles appllcable to charitles preparing their 8ccounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}. I have no concems 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 Ihe accounts lo be reached. David E Seabright & Co (Nailsea) Limited Independent Examiner Bailey Wood Stables Long Lane Wrington North Somerset BS40 5SA 1 July 2025 The Guild of Friends of the Bristol Royal Hospital for Sick Children Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 2024 Total funds Total funds Note Income and endowments Donations and legacies Charitable activities 4.499 10.416 11.913 Investment income Total Income 26,828 Expendlture Expenditure on ralsSng funds.. Costs of raising donations and legacies Exp8nditur8 on charitable activities 21,653 1,892 9,10 Total expèndlture 23,545 Net losses on investments 12 Net income and net movement in funds 3,172 Reconciliation of funds Total funds brought forward 374,997 Total funds carried forward 378,169 The stat8mgnt of financial activities includes all gains and losses recognised in the year. All income and expendlture derive from contlnuing activities. The Guild of Friends of the Bristol Royal Hospital for Sick Children Company Limited by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Note Fixed assets Investments 247,075 Current assets Deblors Cash at bank and in hand 17 1,932 129.942 131,874 780 Creditors: amounts falling duo within ono year 18 Net currenl Ilabllltles 131,094 Total assets less current liabilities 378,169 Net liabilities 378,169 Funds of the Gharity Restricted funds Unrestricted funds 2,405 375,764 Totsl charity funds 378.169 For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtain an audit of its financial statements for Ihe year in question in accordance with section 476 The directors acknowledge their responsibilities for complying with the requirements of the Act with respecl to accounting records and the preparation of financial statements These financial stalements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorlsed for issue on 1 July 2025 and are signed on behalf of the board by.. Mr J Adams (Hon. Treasurer) The Guild of Friends of the Bristol Royal Hospital for Sick Children Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 1. General information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the regislered office is Middle Lodge, Fersfield, Balh, BA2 SAR. 2. Statement of complianca These financial stalements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republlc of Ireland., the Stslement of Recommended Practice applicable to charllles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (Charities SORP (FRS 102)) and the Companies Act 2006. 3. Accounting policies Basis of preparation Th& financial statements have been prepared on th8 historical cost basis, as modified by the r8valuation of certain financial assets and liabilitie5 and investment propertie5 measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncerlainties about the charity's ability to continue. Judgements and key sources of estimation uncèrtainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under Ihe circumstances. Fund accounting Unrestricted funds are available for use al the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the members for pariicular future project or commitment. Restricted fiJnds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall inlo one of two sub-classes.. restricted income funds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charily; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income- income from donations or grants is recognised when there is evidence of entitlemenl to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and relurned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liabillty Is incurred. Expendlture includes any VAT whlch cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable airns for the benefil of its b8neficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitsble activities. All costs are allocated lo expendllure categorles reflectlng the use of the resource. Dlrecl costs attrlbutable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Investments Unlisted equity investments are initially recorded al cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured 8t fair value with changes in falr value being recognlsed In Income or expenditure. Financial instruments A financial asset or a financial liability is recognised only when the charity become5 a party to thg contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable Including any related transaction costs. Current assets and current Ilablllties are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cosi. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, Ihe investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial inslrumenls, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset 15 measured at Ihe present value of the future payments discounted at a market rale of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relalionship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for irnpairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amounl of the financial asset thal exceeds what the carrying amount would have been had the impairment not previously been recognised. 4. Limited by guarantee The Company is Limited by Guarantee and the liability of every member for payment of the debts of the company is limited, in the event of the same being wound up while they are still a member or within one year after they cease to be a member, to such amount as may be required not exceeding £1. 5. Donations and legacies Unrestricted Total Funds Funds 2025 Unrestricted Funds Total Funds 2024 Donations Donations and bequests 4.499 4,499 6. Charitable activities Unrestricted Tolal Funds Funds 2025 Unrestricted Funds Total Funds 2024 Mendip Fair 10,416 10,416 7. Investmont incom Unrestricted Total Funds Funds 2025 Unrestricted Funds Total Funds 2024 Incom& from listed investments 11,913 11,913 8. Costs of raising donations and legacies Unrestricted Total Funds Funds 2025 Unrestricted Funds Total Funds 2024 Costs of raising donations and legacies - Grants receivable 20,551 20,551 Costs of raising donations and legaGies - Angels in Art costs 1,102 1,102 21,653 21,653 9. Expendlture on charltable actlvltles by fund type Unrestricted Total Funds Funds 2025 Unrestricted Funds Total Funds 2024 Support costs 1,892 1,892 10. Expenditure on charitable activities by activity type Total funds 2025 Total fund 2024 Main Charitable Activily 1,892 11. Analysis of support costs Total 2025 Total 2024 Communications and IT General office Governance costs 360 812 720 1,892 12. Net IosBes on investments Unrestricted Total Funds Funds 2025 Unrestricted Funds Total Funds 2024 Gains1(105ses) on listed investmenls { 111) 13. Independent examlnatlon fees 2025 2024 Fees payable to the independent examiner for.. Independent examination of the financial statements 720 14. Staff costs The average head count of employees during the year was Nil {2024.' Nill. The average number of full-time equivalent employees during the year is analysed as follows.. 2025 2024 No. Number of Directors 10 No employee received employee benefits of more than £60,000 during the year (2024: Nil). 15. Trustee remuneralion and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees 16. Investments Total Carrying amount At 31 March 2025 At 31 March 2024 All investmenls shown above are held at valualion. 17. Debtors 2025 2024 Other debtors 1,932 18. Creditors: amounts falling due within one year 2025 2024 Accruals and deferred income 780 19. Analysls of nèt assets betweèn funds Unrestricted Total Funds Funds 2025 Inveslments Current assets Creditors less than 1 year Net liabilities Unrestricted Funds Total Funds 2024 Investments Current assets Creditors less than 1 year 247,075 131,874 (780) 247,075 131,874 {780) Net liabilities 378.169 378.169 This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic fonn, authentication and manner of delivery under section 1072 of the Companies Act 2006.