2023-03-31-accounts

CHARITY REGISTRATION NUMBER: 1100501

Gloucestershire Eye Therapy Trust Unaudited Financial Statements 31 March 2023

Gloucestershire Eye Therapy Trust

Financial Statements

Year ended 31 March 2023

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	3
Statement of financial activities	4
Statement of financial position	5
Notes to the financial statements	6

Gloucestershire Eye Therapy Trust

Trustees' Annual Report

Year ended 31 March 2023

The trustees present their report and the unaudited financial statements of the charity for the year ended
31 March 2023.

Reference and administrative details

Registered charity name Gloucestershire Eye Therapy Trust Charity registration number 1100501 Principal office 11b Priory Street Cheltenham Gloucestershire GL52 6DR The trustees Professor A McNaught MD FRCOphth E R Day SRN J E Lane Doctor A � Crowther MA BM Bch S Guilford Bsc(Hons) MCOptom M A G Bull Bsc FCA H D Wilkinson Bsc MRICS Independent examiner Ian Price FCA Griffiths Marshall Beaumont House 172 Southgate Street Gloucester GL1 2EZ Bankers Lloyds Bank Plc – Cheltenham Scottish Widows Bank Plc - Edinburgh

Structure, governance and management

The Trustees who have served during the year and since the year end are set out above. Trustees are
appointed by the Board and can hold office for life, subject to arrangements of the Trust Deed. The
Trustees meet on a regular basis throughout the year. Trustees have had regard to Charity Commission
guidance on public benefit. The trust is constituted under a trust deed dated 23 July 2003.

Objectives and activities

The Gloucestershire Eye Therapy Trust is a Gloucestershire based charity dedicated to supporting eye
treatment and care in the community.

The objectives of the charity are to promote and advance the study and practice of the diagnosis,
treatment and care of eye diseases in Gloucestershire, and the area covered by the Gloucestershire
Eye Department, and to support research into eye diseases.

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Gloucestershire Eye Therapy Trust

Trustees' Annual Report (continued)

Year ended 31 March 2023

Achievements and performance

After the restrictions of Covid, the Eye Therapy Trust has been unable to restart fund raising activities
that had been employed in the past. We have not restarted traditional fund-raising events but have
kept in touch with these loyal supporters through a Newsletter. During this period we have been
fortunate to receive generous legacies which have enabled GETT to support our Eye Department
colleagues.

A major refurbishment of the ground floor Outpatients department in East Block CGH has been
completed by the Hospital Trust and GETT was delighted to be able to support this work. With our
supporters help we have been able to fund the purchase of a new operating microscope to replace the
20 year-old machine at Tewkesbury Hospital. This elderly machine was beginning to fail and since
over 1500 cataract operations are undertaken at Tewkesbury each year it was important to replace it.
The Hospital Trust only had funds to replace the machine at Cheltenham. The new machine was
delivered to Tewkesbury Hospital theatre in November 2023.

We are also delighted to be able to support the training schemes run by the Eye Department for many
trainee surgeons with an IOL Master 700 System. This state-of-the-art equipment allows training to
take place virtually rather than on patients. We were also happy to underwrite the purchase of a
specialised examination and treatment chair for the outpatient department to supplement the funds
raised by retired HCA Howard Marshall.

Financial review

The finances of the Eye Therapy Trust remain healthy and we are exploring ways of spreading the
name of the Trust in the post-Covid era. Your Trustees will continue to monitor all potential activities to
improve the finances.

The trustees' annual report was approved on 30th January 2024 and signed on behalf of the board of trustees by:

Doctor A � Crowther MA BM Bch Chairman

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Gloucestershire Eye Therapy Trust

Independent Examiner's Report to the Trustees of Gloucestershire Eye Therapy Trust

Year ended 31 March 2023

I report to the trustees on my examination of the financial statements of Gloucestershire Eye Therapy
Trust ('the charity') for the year ended 31 March 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in
accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145
of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given
by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the �������

2. �������������������������������������������������������������

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Ian Price FCA
Griffiths Marshall
Beaumont House
172 Southgate Street
Gloucester
GL1 2EZ

[Date: ][30th January 2024]

3

Gloucestershire Eye Therapy Trust

Statement of Financial Activities

Year ended 31 March 2023

		2023	2023	2022
		Unrestricted
		funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	4	102,362	102,362	6,681
Investment income	5	21	21	6
		--------------------------------	--------------------------------	-----------------------
Total income		102,383	102,383	6,687
		================================	================================	=======================
Expenditure
Other expenditure	6	6,099	6,099	104,883
		--------------------------------	--------------------------------	--------------------------------
Total expenditure		6,099	6,099	104,883
		================================	================================	================================
		--------------------------------	--------------------------------	--------------------------------
Net income/(expenditure) and net movement in funds		96,284	96,284	(98,196)
		================================	================================	================================
Reconciliation of funds
Total funds brought forward		270,468	270,468	368,664
		--------------------------------	--------------------------------	--------------------------------
Total funds carried forward		366,752	366,752	270,468
		================================	================================	================================

The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.

The notes on pages 6 to �� form part of these financial statements.

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Gloucestershire Eye Therapy Trust

Statement of Financial Position

31 March 2023

		2023	2022
	Note	£	£
Current assets
Cash at bank and in hand		367,952	271,645
Creditors: amounts falling due within one year	10	1,200	1,177
		--------------------------------	--------------------------------
Net current assets		366,752	270,468
		--------------------------------	--------------------------------
Total assets less current liabilities		366,752	270,468
		--------------------------------	--------------------------------
Net assets		366,752	270,468
		================================	================================
Funds of the charity
Unrestricted funds		366,752	270,468
		--------------------------------	--------------------------------
Total charity funds	11	366,752	270,468
		================================	================================

These financial statements were approved by the board of trustees and authorised for issue on 30th January 2024 , and are signed on behalf of the board by:

Doctor A ��Crowther MA BM Bch Chairman

M A G Bull Bsc FCA Trustee & Honorary Treasurer

The notes on pages 6 to ���form part of these financial statements.

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Gloucestershire Eye Therapy Trust

Notes to the Financial Statements

Year ended 31 March 2023

�� General information

The charity is a public benefit entity and a registered charity in England and Wales and is
unincorporated. The address of the principal office is 11b Priory Street, Cheltenham,
Gloucestershire, GL52 6DR.

�� Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities
SORP (FRS 102)) and the Charities Act 2011.

�� Accounting policies

Basis of preparation

Gloucestershire Eye Therapy Trust meets the definition of a public benefit entity under FRS 102.
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities measured at fair value through income and
expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such,
advantage has been taken of the following disclosure exemptions available under paragraph 1.12
of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in
respect of financial instruments have been reduced.

Judgements and key sources of estimation uncertainty

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 the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through
the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment
funds.

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Gloucestershire Eye Therapy Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has ������������������������������������������������������������������������������������������������������ 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 entitlement 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 returned if unspent, in which case
it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which 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 aims for the benefit of its beneficiaries, 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 charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable 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.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.

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Gloucestershire Eye Therapy Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2023

3. Accounting policies (continued)

Financial instruments (continued)

Current assets and current liabilities 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 cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the 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 instruments, 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 is measured at the present value of the future
payments discounted at a market rate 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 relationship.

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 impairment. 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 amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.

4. Donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
	£	£	£	£
Donations
Donations	7,451	7,451	6,681	6,681
Bequests	94,911	94,911	–	–
	--------------------------------	--------------------------------	-----------------------	-----------------------
	102,362	102,362	6,681	6,681
	================================	================================	=======================	=======================

5. Investment income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2023	Funds	2022
	£	£	£	£
Bank interest	21	21	6	6
	==============	==============	==============	==============

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Gloucestershire Eye Therapy Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2023

6. Other expenditure

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Grants paid to Institutions	2,605	2,605	100,002	100,002
	Printing, postage and stationary	146	146	–	–
	Secretarial	1,469	1,469	1,696	1,696
	Legal and professional fees	1,013	1,013	3,155	3,155
	Bank charges	30	30	30	30
	General expenses	100	100	–	–
	Insurance	157	157	–	–
	Advertising	544	544	–	–
	Subscriptions	35	35	–	–
		-----------------------	-----------------------	--------------------------------	--------------------------------
		6,099	6,099	104,883	104,883
		=======================	=======================	================================	================================
7.	Independent examination fees
				2023	2022
				£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements			1,200	–
				=======================	==============

8. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

The average head count of employees during the year was Nil (2022: Nil).

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

9. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were
received by the trustees.

10. Creditors: amounts falling due within one year

	2023	2022
	£	£
Accruals and deferred income	1,200	1,177
	=======================	=======================

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Gloucestershire Eye Therapy Trust

Notes to the Financial Statements (continued)

Year ended 31 March 2023

11. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
		At			At
	1	April 2022	Income	Expenditure	31 March 2023
		£	£	£	£
General funds		270,468	102,383	(6,099)	366,752
		================================	================================	=======================	================================
		At			At
	1	April 2021	Income	Expenditure	31 March 2022
		£	£	£	£
General funds		368,664	6,687	(104,883)	270,468
		================================	=======================	================================	================================

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