Company registration number 03575712 Charity registration number 1070233 The League of Friends of the Lymington New Forest Hospital (A company limited by share capital) Annual Report and Financial Statements For the year ended 31st March 2024 Hope Jones Chartered Accountants and Registered Auditors Dunlop House 23a Spencer Road New Milton Hampshire BH25 6BZ
The League of Friends of the Lymington New Forest Hospital Content Trustees, Report Ito5 Independent Examiner's Report Statement of Financial Activities 7t08 Balance Sheet 9tolO Notes to the Financial Statements Ilto23
The League of Friends of the Lymington New Forest Hospital Trustees Report (Including Directors Report) The Truslees, who èye Oiweclors lor the puiposes of compony law, piesent Ihal Annual Reporl togeiher with the Fi riEfiC131 El31emenls DI the cFiarilable company for the yerr ended 31 N4arch 2024. Trustees Mr A A England (Joint Chairl Mr M Hodges (Joint Chair} Ms C A de Hautville Bowell {appolnted- 6 December 2023} Ms A J Bowman Dr F C B Houlford {resigned- 6 December 2023) Mr D Mackew {appointed- 22 May 20241 Mr A Mann {re5igned- 12 February 2024) Mr H C Nash {deceased- 30July 20241 Dr C D Roseveare (appointed- 12 February 2024) OrT G A Sterling (appointed- 12 February 2024) Objertlves and actlvlties Oblects and alrns To relieve patients of the Lymin8ton New Forest Hospital in Hampshire and forrner patients of the Lymlngton Hospital and Lymin8ton Infirmary at Lymin8ton in Harnpshlre and other invalids in the community who are sick, convalescent, disabled, handicapped, inform or in need of financial assistance and, 8enerally, to support the charitable work of the hospital. One of our aims is to help provide locally for diagnosis and treatment, rather than having to travel to Southampton or Bournemouth. The Lea8ue depends wholly on its Members, Volunteers and the 8eneral public for its generation of funds. Objertlves, Strntegles and beneffts. Its prlme objectives are to benefit the public by applying those funds towards extra care and amenities for patients at the Lymington New Forest Hospital and towards the purchase of medical and other equipment for the Hospltal when that equipment is not available throu8h normal NHS channels or funding. In order to achieve thi5 Qbjecfive and to generate funds necessary to support these amenitfes, the Charity carries out fundraising activitie5 both through appeals and other activitles. These fundraising activities can both be specific and targeted towards specific equipment or to collect general funds on an ongolng basis, In addition, it provides amenltles within the Hospital by operating a shop Ithrou8h its trading subsidiary).
Public Benefit The Charity has satisfied its public benefit responsibilities by its continued support of patients. patient activities and benefits and also of donations for capital equipment which ensures that the Hospital is able to continually upgrade and purchase the latest equipment. Donations in the year have covered a viide lcnge ol (mall dnd lorge equipment lor many depa rtment5 and the conirriun ily. Thpsp ilen-, rcifige Irom frp.e doily nei•JspapeT< and acts"vitics Ici F3b"Enls, reFi2bilitètion classes and aids for stroke patients. Tvs for pabent viaiting areas to home thermomeieis and aids lo support community teanis. Significant equipment items included Blood Pres¢ure and Resuscitation Monitors. Colonoscopes, Pressure Mapping equipment to signilicantly enhance the service available to the general public in a number of medical disciplines. In addition, the charity has built a woodland Wellbeing Trial In the grounds of the hospital as well as replacing and updating the signage across the hospital to assist patients and visitors. The Trustees mnfirm that they have complied with the requirements of section 17 of the Charities Att 2011 to have due regard to the public benefi't 8uidance published by the Charity Commission. Use of Volunteers During the financial year, due to the ongoing effects of COVID 19, the Charity continued to be Impacted in its ability to provide volunteering services within the hospital. However, we are pleased to advise that we restarted patient facing services (Ward Friends) durin8 the year. The Friends shop offering a ran8e of products operated throughout the year. The Charlty rern3ins grateful to the Volunteers for their willingness to provide tbme to support services and extra care for the benefit of patients. visitors and staff in the Hospital. Significant numbers of volunteer hours are put in each year which are difficult to value financially but make a very valuable and essential contribution to the League of Friends and the Hospital Achievements and performance The Charity ha5 continued to collaborate with Southern Health NHS Trust who provide a range of care in the Hospital and Partnering Health Ltd Iwho provide Urgent Treatment Services for the NHS within the Hospital) to support the prowsion of facilitles and to provide local people with the best possible service and the ability to enable care and procedures to take place much closer to home. Durln8 the year the Charlty donated £164,882 to the hospital in order to purchase various equlpment includlng Blood and Resuscitation Monitors. Colonoscopes and Pressure Mapping equipment. together with a number of Smaller items. The Charity also desi8ned and instslled a Wellbeing Trall in the Hospital Grounds and updated all the hospital signa8e to ald patient and visitor navigatlon. In addltlon, the Charity spent £17,167 on patient amenities includin8 newspapers, stroke ward supplies, Kings Coronation. Christmas and New Year activlties to enhance patient care. In 2023. the Charity was donated £77,500 by the Leon Crouch Foundation a significant portion of whlch was used in 202314 to develop a Wellbein8 Trail within the hospital grounds. The remainder has been retained for the further development of the gardens and to provide facilities for staff use when on breaks from patient care which are currently being agreed with the h05Pital. The Charity continues to hold a regular dialogue with the Hospital to identify the sUPPOrt needed for the patients and equipment above and beyond that the NHS can fund and provide. We anticipate continuing our support through 2024125 and have already a number of projects in progress which will further this objective. We have donated or expended over £l.000,000 in the last 4 years to support patients in the hospital and community and in excess of £4 million since 1952.
Financlal Review This year there has been a decrease in fund5 of £76,75212023 increase of £119,688). This decrease is largely attributable the charity spending excess funds raised in the previous financial years. This was partially offset by gain on investments in the current year of £98,99212023 loss of £6,295}. Policy on Reserves majority of the decrease relates lo the conscious oecision of the iruclee lo spend legacies and I'estricled donations received in recent financial years but not able to be spent in those years. £1,000,000 of the reserves rÈpresent the cost of the land on which thÈ Hospital is built and are not readily avallable. The Trustees have resolved to commit as much of the Charity's resources as possible to the League's objectives whist retaining sufficient reserves and investments to enable future donations which can indivldually be substantial in size. Although the Trustees will continue to fundraise, where appropriate, to match purchases for the benefit of the Hospital, it Is possible reserves may decrease In future due to fulfilling Hospital fundin8 requests. Investment pollcy and objectives The Charity maintains liquidity through the use ofLloyds Bank, CAFBank and a number of deposits with selected other banks to invest surplus cash awaitin8 donation or investment. In addition. the Charity holds an investment in the COIF Charities Investment Fund which totalled £903.184 at 31 March 2024. The objectives of the COIF Charities Investment Fund are to provide long term total return comprising both growth in capital and income. The Fund follows a client driven ethical tnvestment policy, Going Concerii These accounts have been prepared on a 80ing concern basls. The Trustees conslder the Charity Is well placed to continue to operate for the foreseeable future.
The League of Friends of the Lymington New Forest Hospital Trustees Report (Including Directors Report) Structure, Governance and Management Gove.'ning Document ie L EdELifr 01 I rienos oi il)E Lyn'iinglon l orec- il Cilcl Ilobie Lompdfill iifi'iilEd by gu2 I dl'iiee is therefore governed by its Memorandum dnd Articles oated 4 June 1998 and niosl recently aniended and updated on 2 September 2019. The League operates under the working title of "Lymin8ton Hospitsl Friends-. Recruitment and appointment of Trurtees The Trustees have a broad range of expertlse and experience and they wish to ensure that this is maintained and developed according to the skills needed and of benefit to the Charity, Interest is always welcomed from Indivlduals who may wish to become a Trustee and add to this experience. Trustees are appolnted or re-appointed by the Members at the Annual General Meetin& One third of the Trustees must ietire at each AGM but may stand for re-election until a total of 9 years ha5 been served. Additional Trustees may be co-opted on to the Board between AGMS to serve for the rest of a financial year. At the next AGM they would be required to stand for re-election. The Board must have a rninirnum of 3 TrLtstees but onnot exceed 15 Trustees. Trustees are encoura8ed to be farnillar with the practtcal work of the Charity when they Join the Board and, on appointment, are provided with detailed information and support to gain a greater knowledge and encouraged to attend trainlng, where appropriate. Organlsatlonal Structure The Trustees meet a minlmum of 6 times a year, although typically more often to review operations, finances, funding requests, project progress and future plans. Trustees visit the Charity and Hospital between meetings to further the work of the Charity. Major rlsks and mana8ement of these ilsk Hospitol Relotion5hip Regular meeilng5 are held between the Charity and the Hospital to ensure there is a regular transfer of Information on the activities and plans of both bodies. The Charity's Operations Manager Is located at the Friends office in the Hospital and maintains a regular relationship with Hospital staff. Stoff ond Volunteers An experienced Operations Mana8er is employed. Polices and manuals are Sn place to guide volunteers and rotas maintained to ensure the League provides the experted services. Retail Operation5 These activities are managed by the Operation5 Manager on a day-to4ay basis supported b experienced volunteers. All transactions are by secure card payment. The Manager monitors and manages stock. margins, waste and volunteers.
The League of Friends of the Lymington New Forest Hospital Trustees Report {Indudlng Oirectors Report) Administr3tive details Printlpal Office League of Friend5 Office Lyminglon New Forest Hospital Wellworthy Road Lymin8ton Hampshire S0418QD Company ReOstfatlon No. 03575712 Charlty Re8lstfafjon No. 1070233 Sollcltors Paris Smlth l London Road Southampton Hampshl S015 2AE Bankers Lloyds Bank 98 Vlctorla Street London SWIE 5JL CAFBank Kings Hill West Malling ME19 4TA Independent Examlner Hope Jones 23A Spencer Road New Milton BH25 68Z The Trustee Report was approved by the Trustees of the Charlty on 11 December 2024 and sjgned on thelr behalf by. Mlchael Hodge Trustee
The League of Friends of the Lymington New Forest Hospitsl Independent Examiner's Report to the trustees of The League of Friends of the Lymington New Forest Hospital I report to the charity trustee5 on my examination of ihe accounts of the charily for the year er)ded 3 1 Ma rch 1024 11,hi(h. dre cei DUI on p3ges ?Ito 23. r4Ecpecl"'.Iyfr I"F.e porypjt..:; cl E.y.2pViiftEt Iiupiees ol ifie Leisue ol Fitedo ul Ik..p LsimingiOI INevi Foieti kiOSPiidl land alsci ils directors for the purposes of company lawl you are responsible foi Ihe preparalion ol the accounls i n accordance with the requirements of the Companies Act 2006 ('the 2006 Act'l Having satisfied myself thal the accounls of The League of Friends of the Lymington New Forest Hospit8l are not required to be audiled under part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the charities Act 2011 1.the 2011 Act'}.In carrying out my examination I have lollowed the directions given by the charity commission under section 145(51(b) ofthe 2011 Act. Independent examlner's statement Since The League of Friends of the Lymington New Forest Hospital gross income exceeded £25.000 your examiner must be 8 member ot a body listed in section 145 of the 2011 Act. I confirm Ihat l am quallfied to undertake the examination because l am a member of ICAEW. which is one ofthe Ilsted bodies. I have completed my exarnination. I confirm Ihat no matters have come lo myattenlion in connection with the examination giving me causelo believe: 1. Accounting records bvere not kept in respectof The League of Friends ofthe Lymington New Forest Hospital as required by section 386 ofthe 2006 Act" or 2. The accounts do not accord with those records; or 3. The accounts do not complywithlheaccounting requirements ofseclion396ofthe 2006Actother than any requiremenl that the accounts give a'true and fairview, which is not matter considered 8s part of 8n independent examination; or 4. The accounts have not been prepared in accordance wlth the methods 8nd prinoipais of the Statement of Recommended Practice for accounting and reporting by charities {applicable to ch8rities prep8rinE their accounts in accordance with the Financial Reportlngstandard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connectlon with the ex8min8tion to which 8ttention should be drawn In thls report in order to enable a proper understanding of the accounts to be re8ched. Paul Root BA FCA Hop8 Jones Ch8rtered Accounlants and Registered Auditors Dunlop House 23a Spencer Road New Milton Hampshire BH25 6BZ Dated Page 6
The League of Friends of the Lymington New Forest Hospital Statement of Financial ActiVFties for the Year Ended 31st March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains cnd Lorret U r..re¢tric;"eo Reslt'icl ed Furids 1024 Note Income and Endowments From: Donations and legacies Investment income 99,989 8,787 99,989 8,787 Total Income 108,776 108,776 Expendlture On: Raising funds Charitable activities Governance costs 881 182,115 39,520 881 244,119 39,520 62,004 Total Expenditure G3ins/losses on investment assets 222,516 -98,992 62,004 284,520 -98,992 liel Iiicome -14,748 -62,004 -76,752 Net movement in funds -14,748 .62,004 -76,752 Reconclllation of funds Total funds brought fonvard 2,051,529 93,000 2,144,529 Total funds carried forward 16 2,036,781 30,996 2,067,777 Page 7
The League of Friends of the Lymington New Forest Hospltal Statement of Financial Activities for the Year Ended 31st March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains 2ryc. Lo¢ce Jriresiricted Funds Re<tvicted Funds 2022 Note Income and Endowments From: Donations and legacies Investment income 95,974 1,361 92,500 188,474 1,361 Total Income 97,335 92,500 189,835 Expenditure On: Raising funds Charitable activities Governance costs Total Expenditure Gains/losses on investment assets 286 28,145 34,791 63,222 6,925 286 28,145 34,791 63,222 6,925 Net income 27,188 92,500 119,688 Net movement in funds 27,188 92.500 119,688 Reconcillatlon of funds Total funds brought forward 2,024,341 500 2,024,841 Total funds carried forward 16 2,051,529 93,000 2,144,529 Page 8
The League of Friends of the Lymington New Forest Hospital (Registration Number: 03575712 Balance Sheet as at 31st March 2024 Fixed assets Tangible assets Investments 12 13 I,0,000 903,184 1,903,184 1,000,000 804,193 1,804,193 Current assets Debtors Cash at bank and in hand 14 9,842 156,576 166,419 9,549 405,067 414,616 Credltors: Amounts falling due withln one year Net Current Assets Is -1,825 164,594 -74,280 340,336 Net Assets 2,067,777 2,144,529 Funds of the charlty: Restrlcted income funds Restricted funds 30,996 93,000 Unrertrlcted Income funds Unrestricted funds 2,036,781 2,051,529 Total funds 16 2,067,777 2,144.529 For the financial year ending 31 March 2024 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibility for lal ensuring that the charitable company keep5 accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and Ibl preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each finacial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. Page 9
The League of Frfends of the Lymington New Forest Hospital (Registration Number: 03575712 Bal¢incÉ Sheet as at 31st March 2024 These accounts have been prepared in accordance with the provisions applicable to companies subject to the sm31 companies regime. The financial statements on pages 7 to 23 were approved by the trustees and authorised for issue on the Ilth December 2024 and signed on Iheir behalf by- MIC ael Ho Trustee Page 10
The League of Friends of the Lymington New Forest Hospital Notes to the Financial Statements for the Year Ended 31 March 2024 Chtsrity Status lie chpri151 IS lilnltEcI l)Ki £l'icfE (PP The 3ddres5 Oi Its registered office is- League of Friends Office Lymington New Forest Hospital Wellworthy Road Lymington New Forest Hospital Hampshire S0418QD ip.CGfpoi'oi&d. in Fri@l-•rl.. Accountlng pollcies Surnmary of slgnificant accountin8 policle5 and key accountlng estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of cornpllance The financial Statements have been prepared ir) accordance with Accountlng and 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 1021 (effective l January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021, the Charities Act 2011 and the Companies Act 2006. Basis of preparation The League of Friends of the Lymington New Forest Hospital is a charitable company limited by guarantee incorporated in England and Wales and meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenvise stated in the relvant accounting policy notes. The address of the re8lStered office is given in the charity information on page 3 of these financial statements. The nature of the charity's operations and principal activities can be found in the Trustees, Report on page l. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1. Going concern The charity's Financial Statements show a net1055 of £76,752 for the year and free reserves of £2,067,777 as at the year end. The trustees are of the view that these results and fundraising plans for the future have secured the immediate future of the Charity for the next 12 months and on this basis the charity is a going concern. Page 11
The League of Friends of the Lymington New Forest Hospital Notes to the Financial Statements for the Year Ended 31 March Z024 Accounting pol'.ci*< (co n &inued) Exemp.Liofi fi-om Pi epaiing c Co¢k, Et¢terkent The charity opted to ¢dopt Bulletin I published on 2 February 2016 and haiye therefore not included a cash flow statement in these financial statements. Exemption from preparlng group accounts The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company ha5 therefore taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts. Income and endowrnents All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Donations and legacles Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity 15 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 charity and it is probable that these conditions will be fulfilled in the reporting period. Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and the settlement date. In the event that the gift is in the form of an asset other than cash or financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable wrth a degree of reasonable accuracy and the title to the asset having been transferred to the charity. Other trading actlvlties Other trading activity income comprise5 of events income, sponsorship income and membership subscriptions. Investment Income Investment income comprises interest receivable on bank deposits and investment income from the fixed asset investments held by the charity. RaisSng funds These are the costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds for example fetes and stalls. Page 12
The League of Friends of the Lymington New Forest Hospital Notes to the Financial Statements for the Year Ended 31 March 2024 Accounting policies (continuedl Exnenciture All expend il Ljre is recogiiised once there 15 3 leE21 or conctrucl iiie obligatiop. to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with the central staff costs allocated on the basis of time spent, and the depreciation charges alocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Charltable activlties Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustee's meetings and reimbursed expenses. Taxatlon The company is a registered charity and therefore, is not liable for income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charitles. Tangible fixed assets Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated irnpairment costs. Depreclation and amortlsatlon Depreciation is provided on tangible fed assets so as to write off the cost or valuation, less any estimated residual value, over the expected useful economic life as follows: Asset class Depreclation method and rate Freehold land Not depreciated Office equipment 33.33% straight line basis Business cornbinations Business combinations are accounted for under the purchase method. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accountinE policies used into line with those used by the charity. All intra-group transactions, balances, income and expenses are eliminated on consolidation. In accordance with section 35 of FRS 102, section 19 of FRS 102 has not been applied in these financial statements in respect of business combinations effected prior to the date of transition. Page 13
The League of Friends of the Lymington New Forest Hospital Notes to the Financial Statements for the Year Ended 31 March 2024 Accou ntirig policrer {coritiniAedl Fixed 2!<et inve¢trrkent< Fixed asset" iriveclments Gre included at market V31be ot the balance <heet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Trade Debtors Trade debtors are amounts due from customers for merchandise sold or seplices performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest rate method, less provision for impairmant. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Fund structure Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for a specific purpose, the use of which is restricted to that area or purpose. Financlal Instruments Classlflcation Financial instruments and financial liabilities are recognised when the charity 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. Page 14
The League of Friends of the Lymington New Forest Hospital Notes to the FFnancial Ststements for the Year Ended 31 March 2024 Accoun Lifig policie¢ IcontinuEcfl Recognition cnd FrsecQLSI'ement All fi nariclai assets 3nd lia bilil ies ore initially me3sui-ed al I ro ns3ction price (including transaction costs), except for those financial assets classified as at fair value through prof it 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. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, bl the charity transfers to another party substantially all of the ri5k5 and rewards of ownership of the financial asset, or c) the charity. despite having retained Some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Investments Investments in subsidiaries and associates are measured at cost less irnpairment. For Investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, c05t is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. Falr value measurement The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there ha5 not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique. Page 15
The League of Friends of the Lymington New Forest Hospital Notes to the Financial Statements for the Year Ended 31 March 2024 IncorrEe frorrK dor,-ti.?n< cn6 leEccies ilnresyricteu Re< ¥ricted unc Genero General 2024 2023 Donations and legacies. Donations from individuals Legacies 70,183 29,806 70,183 29,806 53,072 135,402 99,989 99,989 188,474 Donation5 and legacies in 2023 totalling £188,474 were attributed to unrestricted funds. Investment Income Unrertrirted Funds Total 2024 Total 2023 General Interest receivable and slmilar income. Interest receivable on bank deposits 8,787 1,361 1361 Investment income in 2023 totalling £1,361 was attributed to unrestricted funds. Expenditure on ralsing funds Allocated SUPPOrt costs Direct costs Total 2023 Total 2022 Cost of generating donations and legacies Fundraisin8 trading costs; Event cost5 881 881 286 881 881 286 £881 {2023- £2861 of the above expenditure was attributable to unrestricted funds. Page 16
The League of Friends of the Lymington New Forest Hospital Notes to the Financial Statements for the Year Ended 31 March 2024 Expenditure on £h¢rit- ble cctivities Activ'ty ridert-kert directly Gr2r* iunding of activity Total 2023 2024 Donations for capital equipment Hospital services and patient benefits Hospttal staff and amenities Wellbeing Transport planning Sl8nage 164,883 17,167 164,883 17,167 15,940 12,078 127 46,504 7,800 7,765 244,118 46.504 7,800 7,765 0 228,553 28,145 £166,549 (2023 - £28,145) of the above expenditure was attrlbutable to unrestricted funds. Analysls of governance and support costs Basis of allocation 50% of staff cost Raislng funds Hospltal seNlce Govemance costs Total 2024 Total 2023 Staff costs Admin expenses Computer expenses Subscrlptions Sundry expenses Independent examiner's fee Volunteer appreciation 14,327 14,328 5,412 2,287 28,655 5,468 2.287 27,083 4,390 1,834 50 56 2,181 2,181 923 39,520 1,350 923 22,951 14,327 2,243 34,791 Basls of allocatlon Reference Governance cost Staff cost Method of allocatlon Independent examiners fees are allocated to support costs. SO% staff costs allocated based on time spent carrying out charitable activities. All Eeneral adminstration costs and depreciation c05t5 allocated to support costs. Administration cost Unrestricted Funds Total 2024 Total 2023 General Independent examlnerfees Examination of the financial statements 1,375 1,375 1,350 Page 17
The League of Friends of the Lymington New Forest Hospital Notes to the Financial Statements for the Year Ended 31 March 2024 TrLJCtee remunerotion ond e-pense¢ I0 tru<leer Iier i¥llKI l)erc(Ins C015r..eclEd vJitFI the) k..- the ch2rity during the year. e. ". E rF jiiEd Oi 1¢,. rr ii)iinfr rol in,1} frc. n,I No trustees have received any reimbursed expenses or any other benefits from the charity during the year. Staff costs The aggregate payroll costs were as follows: 2024 2023 Staff costs during the year were: Wages and salaries Other staff costs 27,540 1,115 25,729 1,354 28,655 27,083 The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows: 2024 No 2023 No Administration No employee recelved emoluments of more than £60,000 during the year. The key management personnel of the charity comprise the Operations Manager. The total employee benefits of the key management personnel of the charity were £28,655 12023 - £27,083). io Independent examlner's remuneratFon 2024 2023 Examination of the financial statements 1375 1350 Page 18
The League of Friends of the Lymington New Forest Hospital Notes to the Financial Statements for the Year Ended 31 March 2024 The comycfiy IS ? rpeis:e_reo rl., pr2tlOfi l3x on i ncome deri'ded from its charitable activities, as it f- Ils wi.hin the Vorious exerTIPlion< available to registered charities. 12 Tanglble fixed assets Freehold land at Wellworthy Road Lymington Offlce equipment Total Cost At l April 2023 1,550,000 2,955 1,552,955 At 31 March 2024 1,550,OQK) 2,955 1,552,955 Depreclation At l April 2023 550,000 2,955 552,955 At 31 March 2024 S50,(X)O 2,955 552,955 Net book value At 31 March 2024 1,000,000 1,000,000 At l April 2023 1.000,000 1,000,000 The land is leased to the West Hampshire Clinical Commissioning Group for a peppercorn rent and is the site of the Lymington New Forest Hospital. The League of Friends has leased back premises within the property from which its trading subsidiary operates a café in the outpatients, area and an office and shop in the hospital foyer. The historical c05t of the land is £1,000,0. It is not depreciated. Page 19
The League of Friends of the Lymington New Forest Hospital Notes to the Financial Statements for the Year Ended 31 March 2024 13 Fixed o¢set inkieetrrient¢ 2021 Shares in group undertakings Other investments 903.183 804,192 903,184 804,193 Shares In group undertakings and partlcipatins interests Subsidiary uTrdertaking5 Total Cost At l April 2022 At 31 March 2023 Net book value At 31 March 2023 At l April 2022 Other Investments Llsted Investments Total Cost or valuatlon At l April 2023 Revaluation Additions 804,192 98,992 804,192 98,992 At 31 March 2024 903,184 903,184 Net book value At 31 March 2024 903,184 903,184 At l April 2023 804,192 804,192 The market value of the listed investments at 31 March 2024 was £903,184 {2023 - £804,192} Page 20
The League of Friends of the Lymington New Forest Hospital Notes to the Financial Statements for the Year Ended 31 March 2024 13 Fixecf Gs<et inveetmenlr {continued! All inKiedfinient% iii£ie 4Eld in tb.e UY,. rhe historical cost of the COIF charities investment fund at 31 March 2024 was £465,000 12023 - £465,000). Details of undertakings Details of the investment5 in which the charity holds 20Yo or more of the nominal value of any class of share capital are as follows: Proportlon of voting rlghts and shares held 2024 2023 Country of Incorporatlon Prlncipal activlty Undertaking Holdlng Subsldlary undertakin8s LOF ( Lymington ) Limited United Kingdom Ordinary i(xJ% loo% Retail operation Company registration number: 05999048 Subsldlaries The Surplus/(deficitl for the financial period of LOF {Lymin8ton) Limited was £3,782 (2023 -{£231)l and the aggregate amount of capital and reserves at the end of the period was (£1.9771 (2023 - {£5,759)1. 14 Debtors 2024 2023 Due from group undertakings Prepayments 8,847 995 8,554 995 9,842 9,549 Page 21
The League of Friends of the Lymington New Forest Hospital Notes to the Financial Statements for the Year Ended 31 March 2024 15 Creditor<: AMourii< f-ItinE due 14llthin one YÈèr 202*1 2023 Refund of Donation Accrua Is 72,500 1,780 1,825 1,825 74,280 16 Funds Balance Other Balan atl Incomlng Resources recognised at31 April 2023 resources Expended galns/{losses) March 2024 Unrestrlcted funds General Unrestricted funds 2,051,529 108,776 -222,516 98,992 2,036,781 Restrirted funds Deepleap Ward 93,QX)O -62,004 3U,996 2,144,529 108,776 -284,520 98,992 2,067,777 Balance Other Balance ati Incomlng Resources recognised at31 April 2022 resources Expended galns/(losses) March 2023 Unrestrlrted funds General Unrestricted funds 2.024,341 97,335 -63,222 -6,925 2,051,529 Restrirted funds Deepleap Ward 500 92,500 93,000 2,024,841 189,835 -63,222 -6,925 2.144,529 The specific purpose for which the funds are to be applied are as follows: Deerleap Ward Fund Donations made to be used for purchasing equipment for the benefit of patients on Deerleap Ward. Page 22
The League of Friends of the Lymington New Forest Hospital Notes to the Financial Statements for the Year Ended 31 March 2024 17 Analysir of net ascetr between funds UnrestricLea f urids Cenera Rectricten funoc furrds Tangible fixed assets Fixed asset investments Current assets Current liabilities 1,000,000 903,184 135,423 -1,825 1,000,000 903,184 166,419 -1,825 30,996 Total net assets 2,036,781 30,996 2,067,777 Total funds 31 March 2023 Unrestrlcted lunds General Restricted funds Tangible fixed assets Fixed asset investments Current assets Current liabilities 1,000,000 804,193 321.616 -74,280 1.000,000 804,193 414,616 -74,280 93,000 Total net assets 2,OSI.529 93,000 2,144,529 18 Related party transactlons During the year the charity entered into the following related party transaction. LOF {Lymington) Llmlted LOF {Lyrningtonl Limited is a wholly owned subsidiary of The League of Friends of the Lymington New Forest Hospital. As the balance sheet date the amount due from LOF {Lymingtonl Limited was £8,847 (2023 - £8,554). Page 23