Registered company number 03807203 Registered charity number 1077638 THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION (A company limited by guarantee) Annual Report and Financial Statements 31 March 2025
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Annual Report and Financial statements for the year ended 31 March 2025 Contents Legal and administrative information Trustees report Independent Examiner's Report Statement of financial activities Statement of financial activities (31 March 2024) Balance sheet Notes to the financial statements Pages 1 2-6 7 8 9 10 11 - 21
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Legal and administrative information Chairman & Treasurer Dr Christopher Moran Deputy Chairman Mr Colin Reilly Charlty Registration Number 1077638 Company Number 0380720: Principal address and registered office Floor 1b Maple House 149 Tottenham Court Road London WIT 7NF Independent Examiner Heather Wheelhouse ACA BDO LLP 55 Baker Street London WIU 7EU Solicitors Linklaters One Silk Street London ECZY 8HQ
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Trustees report (incorporating the report of the Directors) for the year ended 31 March 2025 The Trustees, who are the directors of the company, present their report and financial statements for The plicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicab the UK and Republic of Ireland (FRS 102) (effective 1 January 201! Status and objects The Foundation was incorporated on 14 July 1999 and is a company limited by guarantee which is incorporated The Foundation was established to promote the relief and prevention of sickness and disease and to advance medical education. Funds raised by the Foundation can be used for the erection and maintenance of buildings, the purchase and maintenance of medical equipment, for education, for employment of staff and for clinical research. Public Benefit We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. Governance The Trustees are responsible for the overall management and decision making for the Foundation. A list of the Trustees who served during the year is set out on page 4 in this report. In order to promote good governance and effectiveness, new Trustees are offered an induction programme at the time of their proposed appointment. This is designed to ensure that new Trustees are briefed on the Foundation in order to understand its purpose and its legal and financial position. The programme also covers the duties and responsibilities of trustees. The Trustees determine the direction and policy of the Foundation in response to requests from University College London Hospitals NHS Foundation Trust ("UCLH Trust"). The Trustees meet three to four times a year and the Chairman oversees the administration and management of the charity. Investment powers Under the Memorandum and Articles of Association, the charity has the power to make any investment which the Trustees see fit. 2
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Trustees report (incorporating the report of the Directors) for the year ended 31 March 2025 (continued) Review of the year and future plans During the year UCLH Charitable Foundation continued its primary focus of supporting various projects acros ne hospitals within the UCLH NHS Foundation Trust. Some of these projects are: Stroke Services Unit at UCLH In June 2024, we received E50,000 from The Woosnam Foundation and another £50,000 from The Lord Leonard and Lady Estelle Wolfson Foundation. These generous contributions were made to The Michael Feldman and The Lady Estelle Wolfson Bursary Fund to support Stroke Services at UCLH. This is an ongoing grant (we have received annual funds from The Woosnam Foundation since 2019). The Michael Feldman and The Lady Estelle Wolfson Bursary Fund supports the purchase of equipment for the Stroke Unit as well as the education, training and development of staff who work within Stroke Services at UCLH under Dr David Turner, Stroke and Geriatric Consultant for UCLH. The UCLH Lung and Heart Bioresource UCLH Charitable Foundation continues fundraising to support this pioneering research project that is improving early detection rates and survival rates for lung cancer, chronic obstructive pulmonary disease (COPD) and cardiovascular disease (CVD). The UCLH Lung and Heart Bioresource is a vast and unique dataset of biological information gathered by the innovative SUMMIT Study, one of the largest interventional trials of its kind. This large and comprehensive study into these three fatal diseases allows scientists a unique means of studying individuals at the highest risk of developing these particular diseases. The biological findings gathered by the study are paving the way for routine early screening for Lung Cancer, COPD and CVD. We currently have an agreement with the UCH NHS Foundation Trust to support the salary costs of a Clinical Fellow working on the Lung and Heart Bioresource for three years (from 2024). The commitment was made in February 2023. The commitment was communicated fully during the Independent Examination process in 2022/23. No candidate was hired at the time and no liability was recorded in the 2022/23 financial year. At the commencement of the 2024/25 financial year, the Clinical Fellow position was filled, and the charity has commenced funding for the position. The nature of the original commitment has been reevaluated in line with the treatment of the SORP, and it is deemed that the Charity's commitment in 2022/23 should lead to a full recognition in that period as opposed to 2024/25. This has been reflected within the Lung & Heart Bioresource restricted fund (See Note 14). Sarcoma Fund We are currently part funding a one year post for a Clinical Research Fellow working on the Sarcoma Unit at University College Hospital. The project that the Clinical Research Fellow is working on will involve developing a clinical trial in definitive UCH Macmillan Cancer Centre The UCH Macmillan Cancer Centre has been a fundraising project for UCL Hospitals Charitable Foundation for Additional funds UCL Hospitals Charitable Foundation also holds funds which support various departments and areas of research throughout the UCLH campus such as: Obstetrics; Sarcoid/CFA and Lung Cancer. 3
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Trustees report (incorporating the report of the Directors) for the year ended 31 March 2025 (continued) Financial Review During the year ended 31 March 2025 the Foundation's donation and legacy income was £142,088 (2024: £115,847). At the year end the charity is reporting net expenditure of £65K (2024: £66K). However, the balance sheet remains strong with net assets of £242K and cash available of £481K. Details of the movements on all restricted funds are given in note 12 on page 17. Unrestricted expenditure costs of £100.4k relate to one full time employee together with associated administration and rent costs. Against this amount, unrestricted donations in a challenging environment for funds were received totaling £38.0k, which were predominately received in small donations (less than £1.5K) together with a donation from Trustee of £7.7k to clear the unrestricted deficit brought forward. Going Concern & Plans for the future We plan to continue our fundraising efforts and objectives for our various funds over the next year by continuing to make approaches for support to individual donors, companies, foundations and trusts. We have legacies planned to continue in 2025/26. Confirmation of support has been provided from Chesterlodge Limited, of which Dr Christopher Moran (Chairman/Trustee) is the sole shareholder and PSC. The assessment of the going concern is detailed within note 2(b). Reserves policy Trustees believe that the Foundation should have adequate reserves to allow flexibility to support projects across the eight hospitals within the UCLH Trust. The free' reserves at 31 March 2025 were a deficit of E(70,017) (2024: (£7,683)). Chesterlodge Limited (a controlled by a Trustee of the charity) has provided a letter of support. This letter ensures sufficient funding for more than 12 months from the date of signing these financial statements. It covers the deficit in unrestricted funds and all unrestricted costs over the same period. Risk exposure The Trustees have addressed the major risks to which the Charity is exposed, in particular those relating to its operations and finances, and are satisfied that the systems in place are sufficient to minimise any exposure identified. UCH Charitable Foundation holds reserves and these will be used, together with support from Trustees, accordingly to ensure the charity remains a going concern. Trustees The Trustees of the Foundation who served during the year were: Dr Christopher Moran (Chairman) Dr Margaret Spittle OBE, FRCP, FRCR Dr Jeremy George MA, MSc, MD, FRCP Mr Colin Reilly 4
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Trustees report (incorporating the report of the Directors) for the year ended 31 March 2025 (continued) Statement of Trustees responsibilities The Trustees (who are also Directors of the Foundation for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company lav the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the income and expenditure of the charitable company for that select suitable accounting policies and apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concer basis unless it is inappropriate to presume that the charitable company will continue in business. for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements and other information included in annual reports may differ from legislation in other jurisdictions. In so far as the Trustees are aware: • there is no relevant information of which the charitable company's independent examiner is unaware; and • the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information. 5
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Trustees report (incorporating the report of the Directors) for the year ended 31 March 2025 (continued) Small company provisions This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. Dr Christopher Morar Chairman Date: 16/12/2025 6
Independent Examiner's Report to the members and Trustees of The University College London Hospitals Charitable Foundation I report to the charity's Trustees on the accounts of the company for the year ended 31 March 2025 which are set out on pages 8 to 21. This report is made solely to the charity's trustees, as a body, in accordance with Regulation 31 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Responsibilities and basis for report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act). In carrying out my examination 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 matters have come to my attention in connection with the examination giving me cause to believe: 1 accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination; or 4.the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Heather Wheelhouse ACA BDO LLP London, UK Date BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127) 7
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Statement of financial activities for the year ended 31 March 2025 (incorporating an income and expenditure account) Note Unrestricted funds € Restricted funds € Total funds 2025 € Total funds 2024 (restated) Income and expenditure Income Donations and legacies Investment income Total income Expenditure Cost of raising funds Charitable activities Total expenditure Net expenditure Fund balances Balances brought forward (restated - see Note 14) Balances carried forward 6 38,072 - 38,072 3,600 96,806 100,406 (62,334) 104,016 16,040 120,056 123,178 123,178 (3,122) 142,088 16,040 158,128 3,600 219,984 223,584 (65,456) 115,847 16,803 132,650 32,892 165,435 198,327 (65,677) (7,683) (70,017) 315,015 311,893 307,332 241,876 373,009 307,332 I above amounts are derived from continuing operation I gains and losses for the year are shown abov The notes on pages 11 to 21 form part of these financial statements 8
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Statement of financial activities for the year ended 31 March 2024 (incorporating an income and expenditure account) Note Unrestricted funds € Income and expenditure Income Donations and legacies Investment income Total income Expenditure Cost of raising funds Charitable activities Total expenditure Net expenditure Transfers between funds Net movement in funds Fund balances Balances brought forward (restated - see Note 14) Balances carried forward 1 502 12,005 32,892 43,611 76,503 (64,498) 6,493 (58,005) 50,322 (7,683) Restricted funds € Total funds 2024 (restated) 104,345 16,300 115,847 16,803 120,645 132,650 121,824 32,892 165,435 121,824 198,327 (1,179) (65,677) (6,493) (7,672) - (65,677) 322,687 373,009 315,015 307,332 Total funds (restated) 177,706 8,080 185,786 85,938 630,190 716,128 (530,342) - (530,342) 903,351 373,009 All above amounts are derived from continuing operations. All gains and losses for the year are shown above. The notes on pages 11 to 21 form part of these financial statements 9
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Balance Sheet at 31 March 2025 Note 2025 € 2024 (restated) Current assets Debtors Bank balances and cash in hand 9 899 480,849 1,448 570,225 Creditors: amounts falling due within one year 10 Net current assets 481,748 (154,708) 327,040 571,673 (107,666) 464,007 Creditors: amounts falling due greater than one year 10 (85,164) (156,675) Total assets less current liabilities 241,876 307,332 Unrestricted funds Restricted funds 11 11 (70,017) 311,893 (7,681) 315,013 Total funds 241,876 307,332 The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 200€ with respect to accounting records and the preparation of financial statements For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies No members have required the company to obtain an audit of its account for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. The financial statements were approved by the Trustees and authorised for issue on signed on their behalf by: and were or cheone mad Chairman & Treasurer Mr C Reilly Deputy Chairman The notes on pages 11 to 21 form part of these financial statements. 10
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Notes to the financial statements for the year ended 31 March 2025 1. 2. Company information The University College London Hospitals Charitable Foundation is a Charitable company limited by guarantee incorporated and domiciled in England & Wales. The Registered Office is Floor 1b Maple House, 149 Tottenham Court Road, London, W1T 7NF. The principal activity of the Charity is to promote the relief and prevention of sickness and disease and to advance medical education. The Company's registered number is 03807203. The registered Charity number is 1077638. The functional and presentational currency of these financial statements is GBP. Accounting policies a) Accounting basis The financial statements cover the period 1 April 2024 to 31 March 2025. The financial statements have been prepared in accordance with Accounting 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 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting standards applicable in the UK and Republic of Ireland (FRS 102) the Companies Act 2006 and the Charities Act 2011. The charity 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 policy note(s). They are prepared under the historical cost convention. b) Going concern As of 31 March 2025, the charity had total reserves of £241,876 represented by (E70,017) of unrestricted reserves and £311,893 restricted reserves. The majority of expenditure is within restricted funds. The Foundation has received a letter of support from Chesterlodge Limited (Company registration no 01611575) who will provide sufficient funding to ensure the charity will have sufficient income generated over a period greater than 12 months from the date of these financial statements to cover the deficit as of 31 March 2025 in unrestricted funds and all unrestricted costs over the period to 31 December 2026. On this basis, the Trustees have reviewed and made an assessment of the charity's ability ti continue as a going concern for a period of at least twelve months from the date on which th financial statements are approved. If in the worst case scenario no further external funds were eceived by the charity, there would be sufficient support from Chesterlodge Limited to cover cost or a period exceeding twelve months from the date of signing of these accounts. We plan t continue our fundraising efforts and objectives for our various funds over the next year by continuing This assessment indicates the ability of the entity to continue to operate as a going concern anc therefore it is considered appropriate to prepare the accounts on a going concern basis In making their assessment the Trustees do not consider there to be any material uncertainty relating to events or conditions that individually or collectively may cast significant doubt on the charity's ability to continue as a going concern. 11
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Notes to the financial statements for the year ended 31 March 2025 (continued) 2. Accounting policies (continued) c) Al tomo i anded in the sam be ofFind lAces 0 ) wain the charly is legally entited Legacies egacies are included when the charity is advised by the personal representative of an estate tha ayment will be made, or that the receipt is probable and the amount involved can be quantifier e) f) g) h) i) All expenditure is accounted for on an accruals basis, inclusive of irrecoverable VAT, and is allocated to the appropriate heading in the accounts. Costs of raising funds include the costs incurred in generating voluntary income and the costs o lirect publicity intended to raise the profile of the charity Charitable expenditure comprises services supplied and activities undertaken which are identifiable as wholly or mainly in support of the charity's objectives. overnance costs are those costs associated with the governance arrangements of the charity, an rese include audit, legal advice for trustees, costs associated with trustee meetings and the co of the preparation of the statutory accounts. upport costs are those costs which enable fund generating and charitable activities to b ndertaken. Costs that relate to more than one activity have been apportioned, with reference t staff time, on a reasonable and consistent basis. Grants payable Grants payable are accounted for in the financial statements as liabilities when the Foundation has either a legal or constructive obligation to meet. Fund accounting The Foundation has three types of funds for which it is responsible and which require separate disclosure. These are as follows: Restricted funds Donations or legacies received which are earmarked by the donor for specific purposes. Such purposes are within the overall aims of the Foundation. Designated funds These are funds set aside by the Trustees out of the General Fund for a specific purpose. There were no designated funds in the year. General fund Funds, which are expendable at the discretion of the Trustees in furtherance of the objects of the Foundation. Capital expenditure No expenditure below €500 is capitalised as the size and nature of the items purchased are not considered material. Financial Instruments The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value. 12
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Notes to the financial statements for the year ended 31 March 2025 (continued) 2. Accounting policies (continued) i) Judgments in applying accounting policies and key sources of estimation preparing the Financial Statements, management is required to make estimates and assumptior hich affect reported income, expenses, assets, liabilities and disclosure of contingent assets at liabilities. Use of available information and application of judgement are inherent in the formation of stimates, together with expectations of future events that are believed to be reasonable under thi ircumstances. Actual results in the future could differ from such estimates There are not considered to be any key areas of judgement in these financial statements. 3. Income from donations and legacies General donations Legacies Donations from charitable trusts Donations from events 2025 € 38,072 10,016 142,088 2024 € 12,160 103,100 587 115,847 4. Restricted income is £104,016 (2024: E104,345). Interest receivable and similar income 2025 16,040 2024 16,803 5. Interest receivable Restricted income is £16,040 (2024: £16,300). Costs of raising funds Direct costs of fund raising activities Staff costs General overheads 2026 : 3,600 3,600 2024 5,251 20,331 7,310 32,892 Restricted expenditure is Enil (2024: Enil). 13
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Notes to the financial statements for the year ended 31 March 2025 (continued) 6. Charitable activities Medical salaries and direct costs Staff costs General overheads Governance costs (note 7) 2025 96,849 86,774 23,049 13,312 2024 € 76,608 57,549 7,308 23,970 219,984 165,435 Restricted expenditure is £123,178 (2024: £121,824). 7. Governance costs Staff costs Independent examination Other costs 2025 € 9,627 3,685 13,312 2024 12,335 5,022 6,613 23,970 8. Staff costs Staff: Gross Employers NI Pension Self-employed: Gross 2025 68,676 7,742 10,356 2024 € 63,973 8,211 10,030 - 8,000 86,774 90,214 One staff member (2024: One) is employed by the University College London Hospitals NHS Trust and is contracted to work for the Foundation. Staff costs are charged to the Foundation on the basis of the time spent working for the Foundation. 1 member of staff was paid more than £60,000 (2024: 1). re Trustees consider themselves as comprising the key management personnel of the Foundation, in char directing and controlling the Foundation. No Trustee received remuneration for services during the ye (2024: nil) and received no benefits in kind (2024: nil). No Trustee claimed any expenses during the year (2024: nil). No Trustee received any beneficial interest in any contract with the Foundation.
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Notes to the financial statements for the year ended 31 March 2025 (continued) 9. Debtors 2025 € 2024 € Due within one year Interest receivable 899 1,448 899 1,448 10. Creditors Due within one year Grant commitments Other creditors and accruals 2025 € 122,151 32,557 154,708 78,856 28,810 107,666 Due greater than one year Grant commitments 2025 € 85,164 2024 (restated) 156,675 85,164 156,675 The Foundation has entered into the following commitments A commitment has been made by the Foundation to provide support for a Clinical Research Fellow in the Dr Seddon's Sarcoma Fund (Note 12) totaling £43,640. This amount is due within one year, and included within Grant commitments < one year (2024: ENil) In February 2023 a commitment was made by the Foundation to provide support to fund a three year Lung & Heart Bioresource Clinical Fellow in the Lung & Heart Bioresource Fund (Note 12) totaling £235,531. The full commitment has been recognised as prior period adjustment (Note 14). At March 2025 £78,511 is included ir Grant commitments < one year (2024 restated: £78,856), and £85,164 included in Grant commitments > one year (2024 restated: £156,675). 15
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Notes to the financial statements for the year ended 31 March 2025 (continued) 11. Analysis of net assets between funds Bank Debtors (note 9) Creditors < 1 year (note 10) Creditors > 1 year (note 10) Unrestricted (55,424) 114,593) - (70,017) Restricted Total 202€ 536,273 899 (140,115) (85,164) 480,849 899 (154,708) (85,164) 311,893 241,876 The trustees are aware of the deficit in unrestricted funds, with confirmed legacies due to clear the deficit post year end. Analysis of net assets between funds (prior year restated) Bank Debtors (note 9) Creditors < 1 year (note 10) Creditors > 1 year (note 10) Unrestricted Restricted Total 2024 16,520 124201) (7,683) 553,705 1,448 (83,465) (156,675) 315,015 570,225 1,448 (107,666) (156,675) 307,332 16
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Notes to the financial statements for the year ended 31 March 2025 (continued) 12. Restricted funds 2025 Transfer Aids Arthritis (Dr Fisher's RLHH Research) Cancer Clinical Trials Cancer Day Centre Cardiology Clinical Trials Colorectal Cancer Unit COX2 Sarcoid Project Dr Seddon's Sarcoma Fund Early Lung Cancer Project Learning Disability Services Lifebox Lung & Heart Bioresource Lungs For Living The Michael Feldman & Lady Estelle Wolfson Bursary Fund Mitochondrial Fund Multi-sensory Room Paediatric Oncology Research Nurse Paediatric Ward T11 Pranav Pandya's Obstetrics Fund Radiopharmacy Facility RLHH RLHH Research RNTNE Play Services Fund Roald Dahl Fund Rokitansky Syndrome Fund Royal Nat. Throat Ear & Nose Hospital Sarcoid Severe Asthma Unit Stephen Green Fund Stroke Unit Therapy Services Transplant Unit UCLH Paediatric Epilepsy Uni Young People's Unit 1 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 (Restated) Balance 1 April 2024 - 5,873 1,708 3,031 3,456 141,906 265 4,827 66,829 28,241 18,344 436 2,206 16,122 185 295 321 1,471 Income Expenditure - 160 : 432 4,332 100 7,793 1,604 103,208 481 481 47,640 7,000 68,538 •.. : : 12,693 3,545 315,015 240 744 321 160 120,056 - - - - - 123,178 - Balance 31 March 2025 - 6,033 3,456 98,598 365 5,620 68,433 62,911 18,825 436 2,206 16,603 185 295 321 1,711 1,734 2,271 : 13,014 3,705 311,893
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Notes to the financial statements for the year ended 31 March 2025 (continued) 12. Restricted funds (Prior year) 2024 Aids Arthritis (Dr Fisher's RHH Research) Cancer Clinical Trials Cancer Day Centre Cardiology Clinical Trials Colorectal Cancer Unit COX2 Sarcoid Project Dr Seddon's Sarcoma Fund Early Lung Cancer Project Learning Disability Services Lifebox Lung & Heart Bioresource Lungs For Living The Michael Feldman & Lady Estelle Wolfson Bursary Fund Mitochondrial Fund Multi-sensory Room Paediatric Oncology Research Nurse Paediatric Ward T11 Pranav Pandya's Obstetrics Fund Radiopharmacy Facility RLHH R RLHH Research RNNE Play Services Fund Roald Dahl Fund Rokitansky Syndrome Fund Royal Nat. Throat Ear & Nose Hospital Sarcoid Severe Asthma Unit Stephen Green Fund Stroke Unit Therapy Services Transplant Unit Young Peoples Upilepsy Unit 1 6 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 (Restated) Balance 1 April 2023 € 600 5,701 911 1,065 3,139 3,355 1,137 146,985 174 77 46 1,332 80,114 Income Expenditure € € Transfer € (Restated) Balance 31 March 2024 - - 13 9 - - : - - - 1,000 - 367 908 130 25 - 4,827 66,829 - 200 930 13,147 3,783 930 : 322,687 120,645 121,824 6,493 During the prior year, transfers were made from inactive restricted funds to unrestricted funds. This transfer was nade due to certain restricted funds were unutilised for a significant period. This reallocation ensures that thes unds can be effectively used to support our ongoing activities and was done in accordance with the charit commission guidance. 12,693 3,545 315,015 18
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Notes to the financial statements for the year ended 31 March 2025 (continued) 12. Restricted funds (continued) Notes (1.) (2) (3.) (4.) (5.) (6.) These funds were for research into HIV/AIDS These funds are to support research and educational work regarding Arthritis at the Royal London Homoeopathic Hospital (now known as the Royal London Hospital for Integrated Medicine) These funds were to support the Cancer Clinical Trials Unit (primarily GI) These funds are for the UCH Macmillan Cancer Centre These funds are to support research work into Cardiology These funds are to provide equipment and patient information packs for the Colorectal Cancer Unit (7.) (8.) (9.) (10.) (11.) (12.) (13.) (14.) (15.) (16.) (17.) These funds were to support the COX2 Sarcoid project These funds are to support Dr Seddon's Sarcoma Fund These funds are to support the Early Lung Cancer Detection & Treatment Programme These funds were to support Learning Disability Services throughout the Trust These funds were for Lifebox These funds are to support the UCLH Lung & Heart Bioresource These funds are to support Lungs for Living These funds are to support the Stroke Services Department at UCLH These funds are to support Mitochondrial Research These funds were to support a multi-sensory room These funds were used to support a Paediatric Oncology Research Nurse and research work into Paediatric Oncology (18.) (19.) (20.) (21.) These funds are to provide recreational facilities for the T11 Paediatric Ward These funds are to support the Obstetrics work of Pranav Pandya and the Fetal Medicine Unit These funds were for a Radiopharmacy Facility These funds were for the complementary and alternative medicine library and information centre at the Royal London Homoeopathic Hospital (now known as the Royal London Hospital for Integrated Medicine) (22.) These funds were for research carried out at Royal London Homeopathic Hospital (now known as the Royal London Hospital for Integrated Medicine) (23.) These funds were to support the Roald Dahl Marvellous Children's Charity Play Specialist
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Notes to the financial statements For the year ended 31 March 2025 (continued) 12. Restricted funds (continued) Notes (24.) These funds are to support work around Mayer Rokitansky Kuster Hauser Syndrome - also known as DSD (Differences of Sex Development) (25.) These funds are to support the Play Specialists at the Royal National Throat, Nose and Ear Hospital (RNTNE) and the Nuffield Hearing and Speech Centre (26.) These funds are to support services at the Royal National Throat, Nose & Ear Hospital (27.) These funds are for research into Sarcoid / Cryptogenic Fibrosing Alveolitis (CFA) (28.) These funds were to support the Severe Asthma Unit (29.) These In Memoriam donations for Stephen Green are used to predominantly support the maternity ward at UCH (as well as other areas) (30.) These funds are to support Stroke Unit throughout the Trust (31.) (32.) (33.) These funds were to support Therapy Services throughout the Trust These funds were to support the Transplant Unit These funds are to support the UCH Paediatric Epilepsy Unit (34.) These funds are used to support the Young People's Unit 13. Related parties During the year UCL Hospitals Charitable Foundation continued its primary focus of supporting various projects across the hospitals within the UCLH NHS Foundation Trust. During the year, the UCH NHS Foundation Trust recharged salary costs to The University College London Hospitals Charitable Foundation of £86,774 (2024; £82,214). At the year-end there was £7,231 due to the UCLH NHS Foundation Trust (2024: £16,761). 20
THE UNIVERSITY COLLEGE LONDON HOSPITALS CHARITABLE FOUNDATION Notes to the financial statements For the year ended 31 March 2025 (continued) 14. Prior Period Adjustment In 2022/23, the Charity made a commitment to fund a Lung & Bioresource Clinical Fellow for a total of £235,531.. No candidate was hired at the time and no liability was recorded in the 2022/23 financial year. At the commencement of the 2024/25 financial year, the Clinical Fellow position was filled, and the charity has commenced funding for the position. The nature of the original commitment has been reevaluated in line with the treatment of the SORP, and it is deemed that the Charity's commitment in 2022/23 should lead to a full recognition in that period as opposed to 2024/25. This has been reflected within the Lung & Heart Bioresource restricted fund (See Note 12 (12)) which has an amended brought forward restricted fund balance of £1,332 as at 01 April 2023 (following the prior period adjustment). The following reported amounts have been adjusted in the primary statements: 2023 (reported) 2023 2023 adjustment (restated) 2024 2024 2024 (reported) adjustment (restated) 394,659 (294,811) 235,531 (235,531) 630,190 (530,342) Income Statement Charitable activities Net expenditure Balance Sheet Creditors < 1 year Creditors > 1 year Restricted funds (71,049) 558,218 (71,049) (235,531) (235,531) (235,531) 322,687 (28,810) 550,546 (78,856) (107,666) (156,675) (156,675) (235,531) 315,015