|||Page||
|---|---|---|---|
|Report ofthe Trustees|1|to|11|
|Report ofthe Independent
Auditors|12|to|14|
|Statement ofFinancial Activities||15||
|Balance Sheet||16||
|Cash Flow Statement||17||
|Notes to the Cash Flow Statement||18||
|Notes to the Financial Statements|19 Io||26|
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|FUTURE PLANS|FUTURE PLANS|||||||||
|---|---|---|---|---|---|---|---|---|---|
|Priorities for 2023||||||||||
|What||Key objectives||||||||
|Fundraising|and|1.Deliver 40th Anniversary
Programme
ofactivities,|including||a fundraising|||||
|Marketing||appeal.||||||||
|||2.Complete
preparations
for LATCH's Ambassadors'|programme,||||including||new|
|||policies and procedures
and commence
rolling out the programme.||||||||
|||3.Grow social media presence and deliver quality content.||||||||
|||4. Improve content on the current website,
including|regularity||and||type|ofcontent.||
|Governance|and|5.Approval
and implementation
ofnew Policies' Framework|||and|Map in place,||||
|Compliance:|Policies|with the majority of new policies required,
completed|by September||||2023.|||
|||6. Implement
Data Protection
Audit recommendations.||||||||
|||7.Continue
programme
ofBoard development.||||||||
|||8. Develop the charity's
risks management.||||||||
|Organisation||||||||||
|development|and|9.Project plan and commence Phase 2 Organisation|Development||||(strategic|||
|strategy||review).||||||||
|Finance Management||10.New financial
policies and procedures
produced,|aligned||with|the||||
|||Organisational
Policies Framework.||||||||
|||11.Continue
to deliver clean financial
audit for 2022.||||||||
|||12.Continue
streamlining
and improving
financial processes.||||||||
|||13.Prepare a budget for 2024, including
a new Fundraising||Plan.||||||
|Infrastructure||14.Complete
mapping
of digital systems
and plan the introduction|||||ofnew|||
|||Customer
Relationship
Management
database
software.||||||||
|||15.Complete
implementation
of interim
staffing structure (Phase||||1|Organisation|||
|||Development
Project).||||||||
|External Affairs and||||||||||
|Policy||16.Deliver a Reception event at the Senedd to mark|40th Anniversary|||||of LATCH.||
|||17.Appoint and induct new Patrons to the charity.||||||||
|||18.Develop new external connections
for the charity|and build relations|||||with||
|||existing stakeholders.||||||||
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||||||2022|2021|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
|||Notes|funds
6|funds
6|funds
6|fundsf|
|INCOME AND ENDOWMENTS|FROM||||||
|Donations and legacies||2|668,954|90,000|758,954|395,743|
|Investment
income
Other income||3|123,811
8,603||123,811
8,603|119,993
4,847|
|Total|||801,368|90,000|891,368|520,583|
|EXPENDITURE ON|||||||
|Raising funds||4|36,882||36,882|28,803|
|Charitable
activities|||||||
|Services to patients|||792,473|18,599|811,072|1,856,027|
|LATCHmosphere
maintenance||||||14,100|
|Total|||829,355|18,599|847,954|1,898,930|
|Net gains/(losses)
on investments|||(331,868)||(331,868)|368,327|
|NET INCOME/(EXPENDITURE)|||(359,855)|71,401|(288,454)|(1,010,020)|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought
forward|||3,828,188|18,599|3,846,787|4,856,807|
|TOTAL FUNDS CARRIED FORWARD|||3,468,333|90,000|3,558,333|3,846,787|
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|||2&)22|2021|
|---|---|---|---|
||Notes||5|
|FIXEDASSETS||||
|Tangible assets|12|7|7|
|Investments|13|2,898,137|3,230,005|
|||2,89l),144|3,230,012|
|CURRENT ASSETS||||
|Debtors|14|157,225|49,503|
|Cash at bank||64II,241|671,107|
|||803,466|720,610|
|CREDITORS||||
|Amounts
falling due within one year|15|(143,277)|(103,835)|
|NET CURRENT ASSETS||660,189|616,775|
|TOTAL ASSETS LESSCURRENT||||
|LIABILITIES||3,558,333|3,846,787|
|NET ASSETS||3,558,333|3,846,787|
|FUNDS|18|||
|Unrestricted
funds||3,468,333|3,828,188|
|Restricted
funds||90,000|18,599|
|TOTAL FUNDS||3,558,333|3,846,787|
##
|||||2022|2021|
|---|---|---|---|---|---|
||||Notes|6|F|
|Cash flows from|operating|activities||||
|Cash generated
from operations|||1|(148,677)|(1,646,137)|
|Net cash used
in|operating|activities||(148,677)|(1,646,137)|
|Cash flows from|investing|activities||||
|Purchase offixed asset investments
Sale offixed asset investments|||||(3,429,578)
4,620,623|
|Interest received||||1,432|2,132|
|Dividends
received||||122,379|117,861|
|Net cash provided|by investing
activities|||123,811|1,311,038|
|Change
in cash|and cash|equivalents||||
|in the reporting|period|||(24,866)|(335,099)|
|Cash and cash equivalents||at the||||
|beginning
ofthe|reporting|period||671,107|1,006,206|
|Cash and cash equivalents||at the end||||
|ofthe reporting|period|||646,241|671,107|
##
|RECONCILIATION
OF NET EXPE
ACTIVITIES|NDITURE TO NET CASH FLOW F|ROM OP' .RATIN|G|
|---|---|---|---|
|||2022|2021|
|Net expenditure
forthe reporting|period (as per the Statement|||
|ofFinancial Activities)||(28I'.454)|(1,010,020)|
|Adjustments
for:||||
|Losses/(gain)
on investments||331 868|(368,327)|
|Interest received||(1,432)|(2,132)|
|Dividends
received||(122,379)|(117,861)|
|Increase
in debtors||(107,/22)|(2,376)|
|Increase/(decrease)
in creditors||39,442|(145,421)|
|Net cash used in operations||(148,677)|(1,646,137)|
##
|ANALYSIS OF CHANGES
IN NET|FUNDS|||
|---|---|---|---|
||At 1.1.22
f|Cash flow
f|At31.12.22
8|
|Net cash||||
|Cash at bank|671,107|(24,866)|646,241|
||671,107|(24,866)|646,241|
|Total|671,107|(24,866)|646,241|
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|||||2022|2021|
|---|---|---|---|---|---|
|Donations|and|fund|raising events - branch|191,075|113,108|
|Donations|and|fund|raising events - central|313,541|248,791|
|Bereavements||&legacies||153,728|12,276|
|Sale ofpromotional|||items|1,467|1,969|
|Grant income||||99,143|19,599|
|||||758,954|395,743|
|INVESTMENT||INCOME||||
|||||2022|2021|
|||||E||
|Dividends|and|fixed|interest securities|122,379|117,861|
|Interest on|cash deposits|||1,432|2,132|
|||||123,811|119,993|
|4.|RAISING FUNDS|||||||
|---|---|---|---|---|---|---|---|
||Raising donations||and|legacies||||
|||||||2022|2021|
||||||||6|
||Fundraising
activities|||||29,457|22,524|
||Investment
management|||costs||||
|||||||2022|2021|
||Investment
management|||fees||7,425|6,279|
||Aggregate
amounts|||||36,882|28,803|
|5.|CHARITABLE ACTIVITIES COSTS|||||||
||||||Direct|Support||
||||||Costs (see|costs (see||
||||||note 6)|note 7)|Totals|
||||||6||6|
||Services to patients||||686,293|124,779|811,072|
|6.|DIRECT COSTS OF||CHARITABLE ACTIVITIES|||||
|||||||2022
F|2021
f|
||Grants and comfort|payments||||476,501|381,620|
||Funded posts|||||131,307|156,929|
||Capital contribution|Cardiff and Vale NHS Trust||||73,570|1,200,369|
||Hospital equipment|||||4,915|2,844|
||LATCHmosphere||||||14,100|
|||||||686,293|1,755,862|
|7.|SUPPORT COSTS|||||||
|||||||Governance||
|||||Management|Finance|costs|Totals|
|||||6|6|6|6|
||Services to patients|||91,687|663|32,429|124,779|
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|Net income/(expenditure)||is stated after charging/(crediting):|is stated after charging/(crediting):|is stated after charging/(crediting):|is stated after charging/(crediting):||||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||2022||2021|
|||||||||||F|
|Auditors'
remuneration||||||||5,760||5,520|
|Auditors'
remuneration|for|non|audit work|||||2,400||1,890|
|TRUSTEES' RENIUNERATION|||AND BENEFITS||||||||
|There were no trustees'|remuneration|||or other beneffts for||the year ended||31 December||2022 nor f|
|the year ended 31 December 2021.|||||||||||
|Trustees' expenses|||||||||||
|Trustees
were
reimbursed||expenses||of 8474 (2021: 8161) during|||the year||incurred|wholly
an|
|necessarily
in the performance|||ofcharitable||activities.||||||
|STAFF COSTS|||||||||||
|There were no staff costs||for the year||ended 31 December||2022 nor for the year|||ended|31 Decembe|
|2021.|||||||||||
|No employees
received|emoluments
in|||excess ofF60,000.|||||||
|COMPARATIVES FOR|THE STATEMENT||||OF FINANCIAL|ACTIVITIES|||||
|||||||Unrestricted||Restricted||Total|
|||||||funds||funds||funds|
|||||||||||8|
|INCOME AND ENDOWMENTS|||FROM||||||||
|Donations
and legacies||||||377,144||18,599||395,743|
|Investment
income||||||119,993||||119,993|
|Other income||||||4,847||||4,847|
|Total||||||501,984||18,599||520,583|
|EXPENDITURE ON|||||||||||
|Raising funds||||||28,803||||28,803|
|Charitable
activities|||||||||||
|Services to patients||||||1,856,027||||1,856,027|
|LATCHmosphere
maintenance||||||14,100||||14,100|
|Total||||||1,898,930||||1,898,930|
|Net gains on investments||||||368,327||||368,327|
|NET INCOME/(EXPENDITURE)||||||(1,028,619)||18,599||(1,010,020)|
|11.|COMPARATIVES FOR THE STATEMENT|COMPARATIVES FOR THE STATEMENT|OF FINANCIAL|OF FINANCIAL|ACTIVITIES -continued|ACTIVITIES -continued||
|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total|
||||||funds|funds|funds|
||||||5|5||
||RECONCILIATION|OF FUNDS||||||
||Total funds brought|forward|||4,856,807||4,856,807|
||TOTAL FUNDS CARRIED FORWARD||||3,828,188|18,599|3,846,787|
|12.|TANGIBLE FIXEDASSETS|||||||
||||||||Fixtures|
||||||||and|
||||||||fittings|
||||||||F|
||COST|||||||
||At 1 January 2022 and|||||||
||31 December 2022||||||89,353|
||DEPRECIATION|||||||
||At 1 January 2022 and|||||||
||31 December 2022||||||89,346|
||NET BOOK VALUE|||||||
||At 31 December 2022|||||||
||At 31 December 2021|||||||
|13.|FIXEDASSET INVESTMENTS|||||||
||||||||Listed|
||||||||investments|
||||||||5|
||NIARKET VALUE|||||||
||At 1 January 2022||||||3,230,005|
||Unrealised
gains||||||(331,868)|
||At 31 December 2022||||||2,898,137|
||NET BOOK VALUE|||||||
||At 31 December 2022||||||2,898,137|
||At 31 December 2021||||||3,230,005|
||Investment
assets outside the UKare shown||below.|||||
||Investments
can be|further analysed as follows:||||||
|||||2022||2021||
||||UK
f|Overseas
5||UK|Overseas|
||Listed Investments||96,839||1,764,317|115,268|2,296,939|
||Other||824,573||212,408|603,885|213,913|
##
||||921,412|1,976,725|719,153|2,510,852|
|---|---|---|---|---|---|---|
|14.|DEBTORS:AMOUNTS|FALLING DUE WITHIN ONE YEAR|||||
||||||2022
f|2021|
||Prepayments
&other debtors||||157,225|49,503|
|15.|CREDITORS: AMOUNTS||FALLING DUE WITHIN ONE|YEAR|||
||||||2022
f|2021
E|
||Trade creditors||||39,638||
||Funded posts &other accruals||||103,639|103,835|
||||||143,277|103,835|
|Minimum
lease payments
under non-cancellable
oper|ating
leases fall due as follows:||
|---|---|---|
||2022
f|2021|
|Within one year|720|4,544|
|Between one and five years|2,699|18,176|
|In more than five years||17,636|
||3,419|40,356|
##
|ANALY|SIS OF NET ASSETS|BETWEEN FUNDS||||
|---|---|---|---|---|---|
|||||2022|2021|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
|||6|F||8|
|Fixed assets||7||7|7|
|Investments||2,898,137||2,898,137|3,230,005|
|Current|assets|713,466|90,000|803,466|720,610|
|Current|liabilities|(143,277)||(143,277)|(103,835)|
|||3,468,333|90,000|3,558,333|3,846,787|
##
|MOVEM|ENT|IN FUNDS||||
|---|---|---|---|---|---|
|||||Net||
|||||movement|At|
||||At 1.1.22|in funds|31.12.22|
||||E||F|
|Unrestricted||funds||||
|General|fund||3,528,188|(359,855)|3,168,333|
|Designated|||300,000||300,000|
|Restricted funds|||3,828,188|(359,855)|3,468,333|
|Julian Hodge|||18,599|(18,599)||
|YMCA||||90,000|90,000|
||||18,599|71,401|90,000|
|TOTAL|FUNDS||3,846,787|(288,454)|3,558,333|
|Net movement|in funds,
includ|ed
in the ab|ove are as follo|ws:|||
|---|---|---|---|---|---|---|
||||Incoming|Resources|Gams and|Movement|
||||resources|expended|losses|in funds|
||||F||F||
|Unrestricted|funds||||||
|General
fund|||801,368|(829,355)|(331,868)|(359,855)|
|Restricted funds|||||||
|Julian Hodge||||(18,599)||(18,599)|
|YMCA|||90,000|||90,000|
||||90,000|(18,599)||71,401|
|TOTAL FUNDS|||891,368|(847,954)|(331,868)|(288,454)|
|Comparatives|for movement|in funds|||||
|||||Net|Transfers||
|||||movement|between|At|
||||At 1.1.21|in funds|funds|31.12.21|
||||F||F||
|Unrestricted|funds||||||
|General
fund|||3,856,807|(1,028,619)|700,000|3,528,188|
|Designated|||1,000,000||(700,000)|300,000|
|Restricted funds|||4,856,807|(1,028,619)||3,828,188|
|Julian Hodge||||18,599||18,599|
|TOTAL FUNDS|||4,856,807|(1,010,020)||3,846,787|
##
|Comparative|net movement
in fu|nds,
included
in the abov|e are as follows:|||
|---|---|---|---|---|---|
|||Incoming|Resources|Gains and|Movement|
|||resources
f|expended
f|losses
f|in funds
f|
|Unrestricted|funds|||||
|General
fund||501,984|(1,898,930)|368,327|(1,028,619)|
|Restricted funds||||||
|Julian Hodge||18,599|||18,599|
|TOTAL FUNDS||520,583|(1,898,930)|368,327|(1,010,020)|
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