Calderdale and Huddersfield NHS Charity
Calderdale and Huddersfield NHS Charity Annual Report and Accounts 2023-24
| Pages | Contents |
|---|---|
| 03 | A message from our Chair |
| 04-08 | Highlights and achievements from the year |
| 09 | Our year in numbers |
| 10 | 2023 – 24 objectives |
| 11-12 | Looking ahead |
| 13 | Key actions 2024 - 25 |
| 14-42 | Financial statements |
2
This has been a year of amazing achievements for our Charity, due to our dedicated supporters and donors. Their kindness and generosity enables the Charity to make an amazing difference, for our patients, their families and communities.
The last year has seen us rebrand and relaunch the Charity, with a new Strategy setting out our ambition to be a true partner to Calderdale and Huddersfield NHS Foundation Trust. We were also incredibly honoured to be named as one of two nominated charities by the Mayor of Kirklees.
You will see in the Report that our team and our fundraisers have been extremely active. From cricket tournaments, long distance walks and runs, to concerts, bake sales and cabaret nights there have been a range of events and activities for the Charity. These have raised money to fund those things that make a difference to the experience of our patients and their families such as environmental improvements at the Rainbow Community Hub in Elland, to the start of the Wellbeing Garden at Huddersfield Royal Infirmary, and Hope Bags for young people with a mental health condition. There have been so many special moments across the year.
I hope you enjoy reading this report and however you have played a part during the year, thank you for your continued support.
Helen Hirst, Chair
3
Karate Fundraiser:
Rainbow Community Hub:
Kind supporters helped to fund £83K for the Rainbow Community Hub, supporting the garden space, sensory room and play and distraction toys. We attended the grand opening in April, celebrating the new hub as well as our long-lasting relationship with the team.
“What CHFT Charity managed to do, thanks to wonderful supporters, to help us to enhance our facility is immeasurable!” Katie Booth, Clinical Nurse Manager
Colin and Fay Hanson held a second fundraiser in aid of our Stroke Unit as a thanks to all the staff who cared for Colin back in 2019. Colin is a Chief Karate Instructor and decided to host a Karate Fitness event. Their fundraiser raised an amazing amount of £6,759!
Marigold Magnets:
Thanks to kind donations, Marigold Magnets were funded to improve end-of-life patient care by making each room identifiable to staff, preventing unnecessary interruptions and enabling privacy and dignity for patients and their families.
Offa’s Dyke Challenge:
Robert Freeman set off on his second fundraiser to complete Offa’s Dyke, which is a 177-mile route up the English/Welsh border. Rob completed the tough challenge in six days to say thank you to our colleagues for saving his life.
Staff training:
Thanks to kind donations, four Lung Cancer colleagues attended a conference to enhance patient care. Specialist Nurse Wendy Teague highlighted the value of networking and learning from other professionals.
Exciting announcement…
We were delighted when Councillor Cahal Burke chose our Charity and RAFA Huddersfield as his chosen charities during his year as Mayor of Kirklees in 2023/24.
----- Start of picture text -----
4
----- End of picture text -----
Charity Cricket Tournament:
Cricket, curry and charity fundraising was the vibe of June. We held a cricket tournament between Calderdale and Huddersfield NHS FT and Mid Yorkshire Teaching NHS Trust to promote teamwork amongst different areas within both trusts.
Dementia support:
Thanks to generous donations, two performances of the play ‘When or Where’ were funded. The play raises awareness about older people living with dementia, advocating for a respectful approach to their care.
Night at the Cabaret:
Laraine Cowgill hosted an Evening of Cabaret at the Wellington Rooms. This was Laraine’s second amazing fundraising event in aid of the Urology Diagnostic Unit. This event raised £920.50 towards enhancing the experience of patients.
NHS 75:
In July, our Trust and community sites were lively with Big Tea Parties, fundraising, and cake to mark the NHS’s 75[th] anniversary. The second Big Hospital Walk gathered 55 walkers and dogs to raise funds and show appreciation for our local NHS services.
- “The day was filled with fun, laughter, and of course, competitiveness! We are already looking forward to next year's event.”
Emma Kovaleski, Charity Manager
Visual affect:
Thanks to generous donations, our Orthopaedic Outpatients Department at HRI were enhanced with two wall murals: a beach view and a poem by the OP Manager, Wendy Hewitt-Huge adding brightness and charm to the space.
Hope Bags:
Thanks to kind donations to our Children’s Ward, ‘Hope Bags’ were funded for younger patients suffering from mental health. These bags include items to help reduce stress, anxiety, and negative thoughts.
Gratitude:
This month, we shone a spotlight on one of our amazing fundraisers, Gerry Robertson, whose son, Thomas, passed away from Diabetes. Gerry continues fundraising to honour Thomas’s wish of making a difference and has raised £5,500 to date.
5
Amazing Fundraisers:
We had some amazing fundraisers throughout September, who either took on the Yorkshire 3 Peaks or the Great North Run. Madeline Hanna, Library Assistant at CHFT, said: “I had such a great day completing the Yorkshire 3 Peaks, it was definitely the most challenging thing I’ve ever done, but so worth it.”
Supporting Cancer Patients:
We were delighted to partner up with our Prehabilitation Cancer Team at CHFT, Ella Dawson Foundation, MOVE Charity and Active Calderdale to establish the first 5K Your Way in Huddersfield and Halifax. This is an initiative for those living with and beyond cancer, families, friends, and those working in cancer services to walk, jog, run, or cheer at a Park Run.
Stoma Day Support:
We were delighted to support the Colorectal Nurses to hold an open day for Stoma Patients at Brier Court. Over 200 patients attended to view stoma care products as well as meet nurses, Macmillan advisors, support groups and to chat over a cuppa.
Music Therapy:
Thanks to kind donations, we provided DAB radios for our Radiology Department to enhance patient experience. Amreet Uppal, Service Lead, said: “Music therapy helps the patient journey from admission to discharge, as it provides a calming atmosphere.”
Halloween Event:
CHFT Charity were delighted to partner up with Project SEARCH Calderdale to host our first ever Halloween Virtual Balloon Race throughout October, with the winner receiving a hamper. We received a great response to this event and look forward to working with Project SEARCH Calderdale again in the future.
Colleague Support:
It’s important to us to look after our colleagues as well as our patients. On World Menopause Day, thanks to kind donations, handheld fans were funded for colleagues who are facing menopause. The fans have helped to ease symptoms for colleagues, helping them to go about their daily duties.
“These fans, along with additional resources, enhances our ethos of One Culture of Care for our colleagues.
Samantha Lindl, Wellbeing Advisor
6
My Forever Box:
Thanks to generous donations into the Palliative Care Fund, you helped to fund My Forever boxes. These boxes are a personal memory making box to enable a child to process the death of a significant adult or sibling.
Colleague Wellbeing on Ward 19:
Following staff survey results, Ward 19 noted that there was no space to take time out and reflect. The Charity funded enhancements to turn a basic staff area into a wellbeing room.
Charity Christmas Concert:
We were delighted to host a Charity Concert at Huddersfield Town Hall in aid of the Mayor’s chosen Charities, CHFT Charity and RAFA Huddersfield. It was a fantastic evening, especially as Ian Noonan, Consultant Nurse for Mental Health, played alongside the Band of the Royal Air Force College.
“We have been given a safe space to allow us to treasure memories on special occasions” Family member of a patient
Amazing Fundraisers:
On World Prematurity Day, we shone a light on Michelle and Dan who raised £420 for our Neonatal Intensive Care Unit. The family wanted to raised funds to say a huge thanks to the amazing care they received whilst their daughter was poorly.
Patient and Colleague Experience:
Thanks to kind donations into our CHFT Eye Fund, we were able to fund 2 eyeball models. Both models can come apart so patients can understand where their eye problems are. These models have made a positive impact on both patients and staff, enabling education and understanding.
Christmas Cheer:
The CHFT Charity Team organised for many schools and community choirs to visit HRI and CRH throughout December to bring some festive joy and cheer to patients and visitors.
----- Start of picture text -----
7
----- End of picture text -----
Wellbeing Garden:
Thanks to kind donations and support from NHS Charities Together, work started on our Wellbeing Garden at Huddersfield Royal Infirmary. This garden is for patients, colleagues and visitors and includes with seven different zones, providing space for socialising, gentle exercise, seclusion and reflection.
Shh Campaign:
We spent lots of time working collaboratively with the Trust to implement a Shh Campaign ; Sleep Helps Healing which is essential for patients. Feedback from patients had highlighted noise on the wards and particularly from noisy bins. Thanks to kind donations, we were able to fund soft close bins for all areas.
Bereavement Support:
Kind donations were able to support and comfort bereaved families on the Labour Ward at Calderdale Royal Hospital. We funded babygrows for the smallest babies that are sadly stillborn or miscarried between 20-26 weeks.
Boxing Event:
CHFT Charity, alongside our friends at RAFA Huddersfield Branch, hosted an evening of Olympic Style amateur Boxing at the John Smith’s Stadium in aid of the Mayor’s chosen Charities of the Year 2023/24.
Colleague training:
During Neurodiversity Week, we were proud to fund the Autism Bus to attend Huddersfield Royal Infirmary. The Autism Bus allows colleagues to experience the sensory processing difficulties faced by people on the autism spectrum. The Neurodiversity Week raised an amazing amount of £700.
Lifesaving equipment:
In partnership with Todmorden Town Council, we proudly funded 7 new publicly accessible defibrillators across Todmorden. Within 2 weeks of installation, two were successfully deployed. This shows the importance of these defibrillators, and how their presence can make a difference between life and death.
8
Donations £196K Legacies £181K Investments £4K ~~”~~ Donations Legacies Investments HO a New buildings and £40K refurbishments New equipment £232k Staff education £66K and welfare / Patient education £167K and welfare New buildings and refurbishment New equipment 9 Staff education and welfare Patient education and welfare o ~~~~~
During the year, we have continued to develop and grow as a charitable organisation operating within the Calderdale and Huddersfield communities. The team have focused on delivering the objectives laid out in the 22 23 Impact Report, alongside developing a robust action plan for the future (see page 13).
We will develop mutually beneficial partnerships
We will identify ways in which we can work more closely together with local businesses, community groups, schools and other local charities, developing meaningful and impactful partnerships.
Update: The Charity has continued to strengthen its presence across the communities of Calderdale and Huddersfield, focussing on developing partnerships for the immediate and longer term. In particular, the Charity would like to thank the following organisations:
-
Businesses – Vinci, IBI.
-
Schools and community groups – Trinity Academy Ackroydon, Kirklees College, Salterlee Primary School, Halifax Catholic Club, Huddersfield University, Lindley Community Group.
-
Todmorden Town Council, RAFA, Mayor of Kirklees.
We will work in collaboration
With CHFT colleagues to ensure donations and charitable funds are well spent, meeting the objectives of our charity and making a positive difference to patient experience and colleague wellbeing. We will evaluate impact and outcomes and share learning and insight from the grants we provide.
campaigns and appeals.
We are sustainable for the future
We will develop a longer-term fundraising plan, to understand the charities potential or growth and future sustainability. Alongside this we will adopt modern database systems to manage all aspects of fundraising and communications.
Update: With thanks to the support from the NHS Charities Together Development Grant, the Charity enlisted the support of Gifted Philanthropy Ltd to conduct a thorough review of the charity and opportunities for growth and sustainability. The output of the study was reviewed by the Charitable Funds Committee and a plan developed.
We maximise opportunities to learn
We will continue to work closely across the NHS Charity sector and play an active part as a member charity of NHS Charities Together.
Update: The Charity is a proud member charity of NHS Charities Together and during the year played an active role in numerous membership led events.
We are efficient and effective
We will review the charity grant funding operations to maximise opportunities to make an amazing difference.
Update: A thorough review and update to the charity grant funding operations was undertaken in late 2023, with a view to realigning the application, monitoring and evaluation processes to the charity strategy.
Update: The Charity has continued to strengthen its position across CHFT, and in October 2024 updated the grant funding process, to ensure a consistent approach evaluating and monitoring the both applications for funding and the impact of these.
We will refresh and renew our brand
We will enlist the support of a brand agency to help take the charity brand to the next level.
Update: The Charity relaunched in June 2024 with an Amazing New Brand identity and supporting strategy. In the upcoming year (2024 - 25), the Charity will take the next step in raising its profile, through the growth of meaningful partnerships, engagement with communities and launching a series of fundraising
10
| Engage with communities across Calderdale and Huddersfield to increase our awareness. |
So that | CHFT Charity is a widely recognised, impactful and well supported charity – at the very heart of our communities. |
|---|---|---|
| Support people who would like to show their appreciation for the care they or their loved one may have received at CHFT. |
So that | Donor experience is exceptional and will contribute toward building a strong reputation as an outstanding charity across our communities. |
| Work with CHFT staff to identify opportunities to turn the everyday into the amazing, by funding only the most impactful projects and initiatives aligned to the charity funding priorities. |
So that | Patient and visitor experience and care is enhanced. Staff health, wellbeing and development opportunities are realised. Key issues addressing health inequalities across our communities are supported. |
| Ensuring excellent governance and ethical standards of charity practice. |
So that | CHFT Charity successfully delivers their purpose/charitable function, while serving their beneficiaries with the support of an effective Trustee, showing leadership, good decision making, a grasp of risk and integrity in a climate of openness and accountability. |
11
Identify ways to make an amazing difference through funding only the most impactful projects and initiatives, aligned to four funding priorities. * eco Improve patient Support Work together Enhance patient care experience colleagues Developing and We’ll fund innovative and We’ll fund the Through improvements engaging with emerging technologies, transformation of tired, to staff areas, funding community partners treatments and enhanced underused spaces into wellbeing projects and to help tackle health medical equipment that can welcoming, healing spaces. supporting of training inequalities and change or save a patient’s life We’ll provide the added opportunities, that creating healthier that wouldn’t otherwise be extras and resources to ultimately translates communities. available. support patients and their into better care and loved one, enhancing their treatment for patients. experience in our hospitals and communities. ~~iid~~ How we will deliver our goals = Priority 2: Operate effectively and efficiently as a trusted charity, with connected and engaged supporters and volunteers. Financial health People Impact Profile Governance • Significant increase • Well • Deliver an • Increased visibility, • Ensure excellent in fundraising supported effective and profile and governance and income, from Charity accessible understanding of ethical standards of diverse range of Team, with grants the Charity within charity practice. sources. a shared programme. the hospitals and • Efficient and • Strategic fundraising ambition • Strategic wider community. effective charity aligned with the motivated grant-making • Well recognised operations. Trust’s strategy and by the aligned to brand identity that • Well managed priorities. Charity’s major capital becomes a charitable funds. • Achieved by staying positive projects within household name in up to date with outlook, the trust. our region. fundraising trends amazing • Loyal and informed and source new values and supporter base. funding. impact led operations. ~~yy~~ 12
During the year, we will achieve our goals and priorities with a professional charity team and through innovative fundraising and impactful grant programmes, a focus on the following six areas:
01
02
AWARENESS | | OPERATIONS Increase visibility through the ii Update the Charity’s operations launch of the Charity’s AMAZING new brand. i st and digital capabilities. a ~~,~~ e--ine aes a 03 04 ~~py~~ c WDiy | | | i DONOR 1 || Diversify income streams, linked FUNDRAISING Develop and embed a to mobilising a public fundraising comprehensive donor journey. appeal.
05
Update grant making processes, GRANTS evaluation, and impact monitoring. ~~NC~~
06
THE FUTURE“ Develop an action plan and longer-term plan for the Charity.
age Our Amazing Charity 13
Thank you for making amazing things happen. Financial statement
Governance
Role and Responsibilities
The Charity has a Corporate Trustee: Calderdale and Huddersfield NHS Foundation Trust, governed by the law applicable to Trusts, principally the Trustee Act 2000 and the Charities Acts 2011. The NHS Foundation Trust Board devolved responsibility for the on-going management of funds to the Charitable Funds Committee which administers the funds on behalf of the Corporate Trustee.
The Executive Directors and Non-Executive Directors of the Trust Board share the responsibility for ensuring that the NHS body fulfils its duties as Corporate Trustee in managing the Charity.
Non-Executive Directors of the Trust Board are appointed by the Council of Governors, whilst Executive Directors are subject to recruitment by the NHS Foundation Trust Board. Members are not individual trustees under Charity Law but act as agents on behalf of the Corporate Trustee.
As Trustees, all are required to ensure that:
-
the income of the Charity is applied with complete fairness between the persons who are properly qualified to benefit from it,
-
they act reasonably and prudently regarding any decisions made in respect of the Charity,
-
they exercise the same degree of care in dealing with the administration of the funds as that of a prudent businessperson would exercise in managing his or her own affairs or those of someone else for whom he or she was responsible,
-
they are able to demonstrate that its charitable aims are for the public benefit.
Members of the Board who served during the financial year ending 31 March 2024 were as follows:
| Name | Role | Date Commenced / left CHFT |
|---|---|---|
| Brendan Brown | Chief Executive | 04.01.2022 |
| Rob Aitchison | DeputyChief Executive | 14.11.2022 |
| David Birkenhead | Executive Medical Director | 01.12.1999 |
| GaryBoothby | Executive Director of Finance | 07.03.2016 |
| KirstyArcher | Executive Director of Finance(joint) | 01.10.2022 |
| LindsayRudge | Executive Director of Nursing | 16.01.2023 |
| Suzanne Dunkley | Executive Director of Workforce and Organisational Development | 01.02.2018 |
| Helen Hirst | Non-Executive Director | 01.07.2022 |
| Karen Heaton | Non-Executive Director | 01.03.2016 - 27.02.24 |
| AndyNelson | Non-Executive Director | 01.10.2017 |
| Denise Sterling | Non-Executive Director | 01.10.2019 |
| Peter Wilkinson | Non-Executive Director | 01.10.2019 |
| Tim Busby | Non-Executive Director | 01.06.2022 |
| Nigel Broadbent | Non-Executive Director | 01.09.2022 |
| Jo-Anne Wass | Non-Executive Director | 07.03.2024 |
15
FINANCIAL REVIEW
Income
In 2023/24 the total incoming resources amounted to £381,000. This is an increase of £17,000 on the previous year’s balance of £364,000; this was due to increases in legacies £128,000 and a decrease in charitable activities income (£173,000) which were then offset by an increase in donations £45,000.
The total expenditure of the Charity exceeded the income received by £266,000. In addition, there was a positive movement of £278,000 arising from the revaluation of investment assets. As such, there was an overall increase in the funds of £12,448 to £2,512,282.
Expenditure
In 2023/24 the Charity spent £505,000 on charitable activities; this includes an allocation of the support costs that the Charity incurred in the administration of the fund of £40,699.73 comprising costs for independent review and other establishment costs which include online giving fees and printing and stationery costs.
The Charity also incurred costs of £142,000 in raising funds and £0 in other resources expended.
Going Concern
The accounts have been prepared on a going concern basis. At the end of the financial year Calderdale and Huddersfield NHS Charity had total net assets of £2.512 million, of which £1.585 million is in unrestricted funds. The Trustees have reviewed its commitment for the next 12 months and are confident that there are sufficient unrestricted free reserves to meet its commitments as they fall due. The Charity maintains an adequate cash position to meet its ongoing expenditure requirements. The Corporate Trustee considers that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Reserves Policy
The Corporate Trustee has a legal duty to apply charitable funds within a reasonable time of their receipt but should also hold some money in reserve. Within the Charity we therefore have three funds which form our reserves – the two General Purpose funds and the General Reserves fund. The balances on these, less any commitments, form the total of the Charity’s Reserves.
The Corporate Trustee encourages the use of balances and intends that designated funds are spent within a reasonable period of receipt and therefore expects to only maintain a minimum reserve balance to allow the charity to remain operational and to mitigate unforeseen circumstances.
It is necessary to retain reserves over the longer term to:
16
-
Reduce the impact of risks should the levels of income (including fluctuations in the value of investments) significantly reduce such that the Charity cannot meet its obligations.
-
Ensure the Charity can cover its ongoing operational costs – these include governance costs such as salaries and audit fees and also fundraising costs.
-
Meet the closure or transfer of the Charity’s affairs should the need arise.
The Reserves Policy states The Corporate Trustee aims to retain, as a minimum, a level of reserves sufficient to provide funding for three months’ operational costs (including governance and fundraising costs) plus a buffer to allow for fluctuations in investment market values.
Investment Policy and Performance
All investments are made in accordance with guidance issued by the Charity Commission; the Charity’s investment manager is CCLA Investment Management Ltd.
The Charity seeks to balance ethical and socially responsible investment and risk. As such, the investment managers appointed by the Charity are restricted from investing directly in the processing and/or manufacture of tobacco products, and the portfolio of investment is widely diversified.
The investment objective is to provide a balance between long term capital growth, security, availability and maximisation of annual income.
At 31 March 2024, the market value of investments managed by the Charity’s investment manager, CCLA Investment Management Ltd, was £2,346,000 compared to £2,378,000 at 31 March 2023.
During the financial year 2023/24, Calderdale and Huddersfield NHS Foundation Trust Charitable Funds made a £278,000 unrealised gain on investment assets; this is compared to an unrealised loss experienced in 2022/23 of (£63,000). The Charity also liquidated £310,000.
17
REFERENCE AND ADMINISTRATIVE DETAILS
| Calderdale and Huddersfield NHS Charity | |
| Registered Charity Number |
1103694 |
| Governing Document | The governing document, dated 18 March 2004, is a Trust Deed setting out how the Charity should be operated and incorporates the regulations to which it must abide. |
| Principal and Registered Office |
Calderdale & Huddersfield NHS Foundation Trust Trust Headquarters, Acre Mills, Acre Street, Lindley, Huddersfield, HD3 3EB. T: 01484 344344 |
Charitable Objects
The object of the Charity is to apply income received from donations and legacies to any charitable purpose or purposes relating to the NHS to benefit the public served by the Trust. The Corporate Trustee fulfils its legal duty by ensuring that funds are spent in accordance with the objects of each fund and, in designating funds, the Corporate Trustee respects the wishes of donors to benefit patient care and advance the good health and welfare of patients, carers and staff.
The Corporate Trustee confirms that it has referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities.
The longer term aim of the Charity is to continue applying income received from donations and legacies to benefit the public served by the Trust, whilst maintaining minimal levels of reserves.
Impact and meeting the Objects
The Charity closely manages all aspects of charitable fund expenditure, reviewing and evaluating outcome and impact across all levels and purposes of funding.
Through ongoing monitoring and gathering of data related to the expenditure of donations, the Charity can showcase its impact through the form of case studies and outcome reporting, all of which is publicly available.
18
Fund Structure and Linked Charities
Calderdale and Huddersfield NHS Charity comprises of the Umbrella Fund and five Special Purpose Funds. Each of the five special purpose funds (linked charities) shares the same charity number as Calderdale and Huddersfield NHS Charity and has the same Trustee.
----- Start of picture text -----
Calderdale And
Huddersfield NHS Designated Funds
Trust Charitable Funds
(Charity Number 1103694)
oe
Special Purpose Funds
The Calderdale
Calderdale Post Huddersfield The Abraham
Calderdale and Huddersfield Umbrella
Graduate Medical Special Care Infirmary Royal Healthcare Charity Ormerod NHS Trust Fund and
Education Baby Unit Charitable Funds (Charity Number (Expendable 1 Capital Endowment
(Charity Number Funds) Common Fund (McGhie
(Charity Number 1103694-2) (Charity Number 1103694-4) Investment Fund Hospital Fund)
1103694-1) 1103694-3)
(Charity Number
1103694-5)
L IL IE
The designated funds receive income mainly through legacies and donations. On accepting
such income no legal obligation is created as to its expenditure but it is the intention of the
Corporate Trustee that any income received into Charitable Funds will be spent in line, as far
as possible, with the wishes of the donor. It is to this end, therefore, that separate accounts
are kept within the Umbrella fund for each of the designated funds.
----- End of picture text -----
The only income which the McGhie Hospital fund attracts is dividends on the capital investment. This fund is a permanent endowment; the income from the capital is to be split equally between the general purpose funds for Calderdale and Huddersfield.
Of the 5 special purpose funds registered with the Charity Commission, Calderdale Post Graduate Medical Education (PGME), Calderdale Special Care Baby Unit (SCBU) and Huddersfield Royal Infirmary also receive income from legacies and donations but have restrictions on where the funds can be spent.
The Calderdale and Huddersfield NHS Trust (Expendable Funds) Common Investment fund is a scheme that is registered with the Charity Commission that allows the Charity to combine the investment and money belonging to a number of funds into one pooled fund.
Each fund has at least one fund manager and funds are grouped by division.
The responsibility for approving expenditure of less than £500 from Charitable Funds has been delegated to the fund manager. For amounts that are greater than £500 further additional approval is required depending on the amount and type of expenditure. This could be a General Manager, Assistant Director of Nursing/Finance or higher level.
19
Fund Management
Calderdale and Huddersfield NHS Charity makes grants from both its unrestricted and restricted funds. The grants from restricted funds must be used in accordance with the conditions attached to the fund.
Unrestricted fund grants are made from general purpose funds and designated (earmarked) funds.
-
General funds. These funds are received with no preference expressed by donors. The Charitable Funds Committee invites applications from any member of staff to this fund. Based on their knowledge of the Trust, the Committee agrees funding priorities and scores applications for quality and value for money.
-
Designated funds. These contain donations where a particular part of the hospital or activity was nominated for support by the donor at the time their donation was made. Whilst their nomination is not binding on the Trustee, the designated funds reflect these nominations. The designated funds are overseen by fund managers who can make recommendations on how to spend the money within their designated area.
Professional Advisors
Principal Professional Advisors
Bankers
National Westminster Bank plc 8 Market Place Huddersfield HD1 2AL
Investment Managers
CCLA Investment Management Ltd One Angel Lane London EC4V 4ET
Independent Examiner
Stirk Lambert & Co Charted Accountants and Tax
Advisors
Legal Advisors
Russell Chambers 61A, North Street Keighley West Yorkshire BD21 3DS Hempsons Solicitors The Exchange Station Parade Harrogate HG1 1TS
20
STATEMENT OF TRUSTEES’ RESPONSIBILITIES IN RESPECT OF THE TRUSTEES’ ANNUAL REPORT AND THE FINANCIAL STATEMENTS
Under charity law, the trustees are responsible for preparing a Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations. The trustees are required to prepare the financial statements in accordance with UK Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.
The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources for that period.
In preparing these financial statements, generally accepted accounting practice entails that the trustees:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards and the Statement of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements;
-
state whether the financial statements comply with the trust deed (and rules), subject to any material departures disclosed and explained in the financial statements,
-
assess the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
-
use the going concern basis of accounting unless they either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
The trustees are required to act in accordance with the trust deed (and the rules) of the charity, within the framework of trust law. They are responsible for keeping accounting records which are sufficient to show and explain the charity’s transactions and disclose at any time, with reasonable accuracy, the financial position of the charity at that time, and to enable the trustees to ensure that, where any statements of accounts are prepared by them under section 132(1) of the Charities Act 2011, those statements of accounts comply with the requirements of regulations under that provision. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the financial and other information included on the charity’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
21
By Order of the Corporate Trustee
Signed Mrs Helen Hirst, Chair ……………………………………….
Signed Mr Gary Boothby, Director of Finance ............................. Dated 05/11/ 2024
22
Independent Examiner's Report to the Trustee of of Calderdale and Huddersfield NHS Charity Independent examiner's report to the trustee of Calderdale and Huddersfield NHS Charity I report to the charity trustee on my examination of the accounts of Calderdale and Huddersfield NHS Charity (the Trust) for the year ended 31 March 2024. Responsibilities basis of report As ihe charity trustee of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commi&sion under section 145(5Kb) of the Act. Independent examiner's statement Since your charity's gross income excced¢d £250.000 your examiner must be a member of a listed body. I can confin that l am qualified to undertake the examination because l am a registered member of the Institute of Chartered Accountants in England & Wales which is one of the listed bodies. I have completed my examination. I confirni that no material matters have come to my attention in connection with the ¢xamination giving me caus¢ to believe that in any material respect: accounting records were not kept tn respect of the Trust as r¢quir¢d by section 130 of the Act" or the accounts do not accord with those records" or the accounts do not comply with the applicable requirements concerning th¢ 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 independenl examination. I have no concerns and have come across no other matters in connection with the examination to which allention should be drawn in this report in order lo enable a proper understanding of the accounts io be r&%hed. Richard J Hudson FCA Stirk Lambert & Co Chartered Accountants Russ¢ll Chambers 6 la North Street Keighley West Yorkshire BD213DS 13 January 2025 23
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
24
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
BALANCE SHEET AS AT 31 MARCH 2024
The accompanying notes form part of these financial statements.
25
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
STATEMENT OF CASH FLOWS AS AT 31 MARCH 2024
The notes 1-24 on the following pages form part of these accounts. The financial statements and the accompanying notes were approved by the Board of Directors on 05.11.24 and were signed on its behalf by Gary Boothby, Director of Finance.
Signed ................................... Mrs Helen Hirst, Chair
26
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
NOTES TO THE ACCOUNTS
1 Accounting policies
a) Basis of preparation
The financial statements have been prepared under the historic cost convention, except for investments which are included at fair value.
The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Corporate Trustee considers that there are no material uncertainties about the Charity’s ability to continue as a going concern.
b) Governance costs
Governance costs are classified as support costs and have therefore been apportioned across charitable activities, after a portion has been allocated to Raising Funds. These costs include costs related to the statutory audit and an apportionment of overhead and other support costs.
The analysis of support costs, including governance costs, is shown in note 9.
c) Structure of funds
Unrestricted income funds comprise those funds which the Corporate Trustee is free to use for any purpose in furtherance of its charitable objectives. Unrestricted funds include designated funds where the donor has made known their non-binding wishes or where the Corporate Trustee, at its discretion, has created a fund for a specific purpose.
Restricted funds are those which are to be used in accordance with specific restrictions imposed by the donor. The Charity has six restricted funds. The restrictions on CRH SCBU, CRH PGME and HRI Special Purpose funds (see note 19) primarily limit any expenditure from these funds to be undertaken for the benefit of the stated purpose contained in the fund title. The fourth and fifth restricted funds are the Abraham Ormerod fund and the Abraham Ormerod Reserve fund. They both have the same restriction, which is that the approved expenditure must, where possible, be for services provided
27
for the benefit of people in the Todmorden area. The sixth restricted fund is the Covid19 fund where the grants from NHS Charities Together were allocated.
Endowment Funds are where capital is held to generate income for charitable purposes with no discretion to spend capital. The Charity has one permanent endowment fund, McGhie Hospital.
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
Accounting Policies (continued)
d) Incoming resources
All incoming resources are recognised once the Charity has entitlement to the resources, it is probable (more likely than not) that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability.
Donations are recognised when the Charity has been notified in writing of both the amount and settlement date.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.
e) Gifts in kind
Gifts in kind, such as food and care packages are not accounted for when they are accepted and immediately distributed unless a single donation is material. Gifts of tangible assets such as mattresses and fridges are recognised as a donation at fair value (market price) on receipt and charitable expenditure when they are distributed. Where gifts in kind are held before being distributed to beneficiaries, they are recognised at fair value as stock until they are distributed.
f) Incoming resources from legacies
Legacies are accounted for as incoming resources either upon receipt or where the receipt of the legacy is probable; this will be once confirmation has been received from representatives of the estate(s) that probate has been granted, the executors have established that there are sufficient assets in the estate to pay the legacy and all conditions attached to the legacy have been fulfilled or are within the Charity’s control.
If there is uncertainty as to the amount of the legacy and it cannot be reliably estimated, then the legacy is shown as a contingent asset until all the conditions for income recognition are met (see Note 20 - Material legacies).
g) Resources expended
28
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate costs related to each category of expense shown in the Statement of Financial Activities. All expenditure is recognised once there is a legal constructive obligation committing the Charity to the expenditure.
h) Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
i) Allocation of support costs
Support costs are those costs which do not relate directly to a single activity. These include some staff costs, costs of administration and audit costs. They are allocated to charitable activities, across the funds in proportion to total expenditure, as shown in note 9, after a portion has been allocated to Raising Funds.
j) Fundraising costs
The costs of generating funds are those costs attributable to generating income for the Charity, other than those costs incurred in undertaking charitable activities. These are fundraising costs and they include expenses for fundraising activities and a fee paid to Calderdale & Huddersfield NHS Foundation Trust to pay the salary and overhead costs of the fundraising team – see note 6.
k) Charitable activities
Costs of Charitable Activities comprise all costs incurred in the pursuit of charitable objects of the Charity. These costs comprise direct costs and overhead and support costs.
l) Fixed asset investments
Investments are initially recognised at their transaction value and are subsequently measured at the current market value quoted by the investment analyst, as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation.
The main form of financial risk faced by the Charity is that of volatility in equity markets and investment markets due to wider economic conditions and the attitude of investors to investment risk.
m) Debtors
Debtors are amounts owed to the Charity. They are measured based on their recoverable amount.
n) Cash and cash equivalents
Cash at bank and in hand is held to meet the day to day running costs of the Charity as they fall due. Cash equivalents are balances held in the deposit account which are very liquid funds and are shown as part of ‘Cash and cash equivalents’ on the balance sheet. There is no impact on the total funds of the Charity. An analysis of Cash and cash equivalents is provided in note 15.
o) Creditors
Creditors are amounts owed by the Charity. They are measured at the amount that the Charity expects to have to pay to settle the debt.
p) Recognised gains and losses
29
All gains and losses are taken to the Statement of Financial Activities as they arise. Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or value at date of purchase if later).
2 Prior year comparatives by type of fund
The primary statements provide prior year comparatives in total; this note provides prior period comparatives for the Statement of Financial Activities and the Balance Sheet for each of the three types of funds that the Charity manages.
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
NOTES TO THE ACCOUNTS
2a Unrestricted funds
| Statement of financial activity for the year ended 31 March 2024 | Statement of financial activity for the year ended 31 March 2024 | Statement of financial activity for the year ended 31 March 2024 |
|---|---|---|
| 2024 | 2023 | |
| £'000 | £'000 | |
| Income and endowments from: | ||
| Donations and legacies | 371 | 178 |
| Investments | 4 | 4 |
| Total income and endowments | 375 | 182 |
| Expenditure on: | ||
| Raising funds | 131 | 135 |
| Charitable activities | ||
| Purchase of new equipment | 117 | 426 |
| New building and refurbishment | 29 | 122 |
| Staff education and welfare | 47 | 63 |
| Patient education and welfare | 165 | 113 |
| Total charitable activities | 358 | 724 |
| Total expenditure | 489 | 859 |
| Net losses on investments | 275 | (40) |
| Net income/(expenditure) | 161 | (717) |
| Transfers between funds | 0 | 0 |
| Net movement in funds | 161 | (717) |
| Reconciliation of Funds | ||
| Total Funds brought forward | 1,424 | 2,141 |
| Total funds carried forward | 1,585 | 1,424 |
Balance sheet as at 31 March 2024
| Fixed assets | 2024 £'000 2023 £'000 1,445 1,327 |
|---|---|
| Investments | |
| Total fixed assets | 1,445 1,327 |
| Current assets | 114 98 44 236 |
| Debtors | |
| Cash and cash equivalents | |
| Total current assets | 212 280 |
| Liabilities | (72) (183) |
| Creditors: amounts falling due within one year | |
| Net current assets /(liabilities) | 140 97 |
| Total assets less current liabilities | 1,585 1,424 |
| Total net assets | 1,585 1,424 |
| Total unrestricted funds | 1,585 1,424 |
30
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
NOTES TO THE ACCOUNTS
2b Restricted funds
| Statement of financial activity for | the year ended 31 March 2024 | the year ended 31 March 2024 |
|---|---|---|
| 2024 | 2023 | |
| £'000 | £'000 | |
| Income and endowments from: | ||
| Donations and legacies | 6 | 9 |
| Charitable Activities | 0 | 173 |
| Total income and endowments | 6 | 182 |
| Expenditure on: | ||
| Raising funds | 11 | 1 |
| Charitable activities | ||
| Purchase of new equipment | 115 | 61 |
| New building and refurbishment | 11 | 20 |
| Staff education and welfare | 19 | 13 |
| Patient education and welfare | 2 | 13 |
| Total charitable activities | 147 | 107 |
| Other resources expended | 0 | 23 |
| Total expenditure | 158 | 131 |
| Net losses on investments | (9) | (17) |
| Net income/(expenditure) | (161) | 34 |
| Transfers between funds | 0 | 0 |
| Net movement in funds | (161) | 34 |
| Reconciliation of Funds | ||
| Total Funds brought forward | 954 | 920 |
| Total funds carried forward | 793 | 954 |
| Balance sheet as at 31 March 2024 Fixed assets Investments |
2024 2023 £'000 £'000 767 929 |
|---|---|
| Total fixed assets | 767 929 |
| Current assets Debtors Cash and cash equivalents |
0 26 0 37 |
| Total current assets | 26 18 |
| Liabilities | 0 (12) |
| Creditors: amounts falling due within one year | |
| Net current assets /(liabilities) | 26 25 |
| Total assets less current liabilities | 793 954 |
| Total net assets | 793 954 |
| Total restricted funds | 793 954 |
31
2c Endowment funds
| Statement of financial activity for the year ended 31 March 2024 | Statement of financial activity for the year ended 31 March 2024 | Statement of financial activity for the year ended 31 March 2024 |
|---|---|---|
| 2024 | 2023 | |
| £'000 | £'000 | |
| Net Gain / loss on investments | 12 | (6) |
| Net income/(expenditure) | 12 | (6) |
| Transfers between funds | 0 | 0 |
| Net movement in funds | 12 | (6) |
| Reconciliation of Funds | ||
| Total Funds brought forward | 122 | 128 |
| Total funds carried forward | 134 | 122 |
| Balance sheet as at 31 March 2024 Fixed assets |
2024 2023 £'000 £'000 134 122 |
|---|---|
| Investments | |
| Total fixed assets | 134 122 |
| Total assets less current liabilities | 134 122 |
| Total net assets | 134 122 |
| Total endowment funds | 134 122 |
32
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
NOTES TO THE ACCOUNTS
3 Analysis of voluntary income
| Donations Corporate donations Legacies |
Unrestricted Restricted Endowment 2023/24 2022/23 funds £'000 funds £'000 funds £'000 Total funds £'000 Total funds £'000 190 6 0 196 98 0 - 36 181 0 0 181 53 |
|---|---|
| 371 6 0 377 187 |
4 Analysis of income from charitable activities (NHS Charities Together grants)
| Stage 3 Long Term Recovery Grant Development Grant |
Unrestricted Restricted Endowment 2023/24 2022/23 funds funds funds Total Total funds funds £'000 £'000 £'000 £'000 £'000 0 0 0 0 0 0 0 0 143 30 0 0 0 0 173 |
|---|---|
5 Total income from operating activities
| Fixed asset investments UK | Unrestricted Restricted Endowment 2023/24 2022/23 funds funds funds Total Total £'000 £'000 £'000 £'000 £'000 4 0 0 4 4 |
|---|---|
| 4 0 0 4 4 |
The dividends above relate to the McGhie Hospital fund; these are shared equally between both General Purpose funds.
Other Income
Other income is £nil - £nil in 2022/23.
33
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
NOTES TO THE ACCOUNTS
6 Analysis of expenditure on raising funds
In 2023/24 the Charity continued to use only one investment manager. For the current year, the fee for the COIF Charities Ethical Investment fund is 0.60% which is charged annually based on the capital balance (2022/23: 0.60%).
6 Analysis of expenditure on raising funds
| Fundraising Costs Support Costs |
Unrestricted funds £'000 Restricted funds £'000 Endowment funds £'000 2023/24 Total funds £'000 2022/23 Total funds £'000 131 11 0 142 132 - 0 0 - 4 |
Unrestricted funds £'000 Restricted funds £'000 Endowment funds £'000 2023/24 Total funds £'000 2022/23 Total funds £'000 131 11 0 142 132 - 0 0 - 4 |
|---|---|---|
| 131 11 0 142 |
||
| - 0 0 - |
||
| 131 11 0 142 |
136 |
The fundraising costs above include staff costs, memberships, marketing and resources and other fundraising event costs.
7 Analysis of charitable expenditure
The Charity made grant support available to Calderdale and Huddersfield NHS Foundation Trust and Locala Community Partnership for the purchase of equipment and contributions for staff and patient education, amenities, and welfare.
| Purchase of new equipment New building and refurbishment Staff education,welfare and amenities Patient education,welfare and amenities |
Unrestricted funds £'000 Grant funded Restricted funds £'000 activity Total funds £'000 |
Unrestricted funds £'000 Support costs Restricted funds £'000 Total funds £'000 |
Unrestricted funds £'000 Total 2023/24 Restricted funds £'000 Total 2023/24 £'000 |
Total 2022/23 £'000 487 142 76 126 |
|---|---|---|---|---|
| 106 109 215 |
11 6 17 |
117 115 232 |
||
| 26 11 37 |
3 - 3 |
29 11 40 |
||
| 43 18 61 |
4 1 5 |
47 19 66 |
||
| 150 2 152 |
15 - 15 |
165 2 167 |
||
| 325 140 465 |
33 7 40 |
358 147 505 |
831 |
The Charity also made available grant support of £0 (2022/23: £23,000) – this was for Age Concern Todmorden and Todmorden Food Drop In Service.
34
8 Analysis of grants
The main beneficiary of the Charity is the related party, Calderdale and Huddersfield NHS Foundation Trust, but grants are also made to Locala Community Partnership. The Corporate Trustee operates a scheme of delegation through which all grant funded activity is managed by fund managers responsible for the day-to-day disbursements from their designated funds in accordance with the directions set out in the Charity standing orders and standing financial instructions.
| Raising funds Grants made: NHS Foundation Trust Locala Community Partnership Other Resources Expended Total resources expended |
2023/24 2022/23 £'000 £'000 142 136 505 831 0 0 |
|---|---|
| 505 831 |
|
| 0 23 |
|
| 647 990 |
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
NOTES TO THE ACCOUNTS
9 Allocation of governance and support costs
Support and overhead costs are apportioned to charitable activities according to the value of transactions that have occurred within each activity in the year. Governance costs are those support costs which relate to the strategic and day to day management of the Charity.
35
| Support and governance costs Financial services Salaries and related costs External and internal audit costs Establishment costs |
Raising Funds Charitable Activities 2023/24 Total 2022/23 Total £'000 £'000 £'000 £'000 0 22 22 29 0 15 15 5 0 3 3 4 0 0 0 1 |
|---|---|
| 0 40 40 39 |
| Support and governance costs Raising funds Charitable Activities |
Unrestricted funds £'000 Restricted funds £'000 Endowment funds £'000 2023/24 Total £'000 2022/23 Total £'000 0 33 0 7 0 0 0 40 4 35 |
|---|---|
| 33 7 0 40 39 |
| Support and governance costs for charitable activities Financial services Salaries and related costs External and internal audit costs Establishment costs |
Unrestricted funds Restricted funds Endowment funds 2023/24 Total 2022/23 Total £'000 £'000 £'000 £'000 £'000 16 6 0 22 26 11 4 0 15 5 2 1 0 3 3 0 0 0 0 1 |
|---|---|
| 29 11 0 40 35 |
| Apportionment of support costs across charitable expenditure Financial services Salaries and related costs External and internal audit costs Establishment costs |
£'000 £'000 £'000 £'000 £'000 £'000 £'000 10 3 7 2 0 22 26 7 2 5 1 0 15 5 3 - - - 0 3 3 - - - 0 0 0 1 |
|---|---|
| 20 4 12 3 0 40 35 |
36
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
NOTES TO THE ACCOUNTS
10 Transfers between funds
There were no transfer between funds in 2023/24 (2022/23: nil).
11 Analysis of staff costs
The Charity does not directly employ any members of staff. The administration and fundraising are carried out by staff from the Trust and recharged to the Charity.
None of these staff received any other employee benefits in either year and nor did any individual receive employee benefits (excluding employer pension costs) above £60,000.
| £'000 | 2023/24 | 2023/24 | 2022/23 | 2022/23 | 2023/24 | 2022/23 |
|---|---|---|---|---|---|---|
| Salaries | ER Pension/ ERS NI | Salaries | ER Pension/ ERS NI | Total | Total | |
| Admin | 31 | 9 | 31 | 4 | 40 | 35 |
| Fundraising | 99 | 24 | 91 | 22 | 123 | 114 |
| 130 | 33 | 122 | 26 | 162 | 148 |
12 Auditor’s / External Examiners remuneration
The External Examiners remuneration of £1,620.00 - inclusive of VAT 2022/23: £4,051 KPMG – inclusive of VAT) related solely to the statutory audit, with no other additional work undertaken 2022/23.
13 Fixed asset investments
All investments are made in accordance with the guidance issued by the Charity Commission. The current investments are managed by CCLA.
Funds are either invested in the stock exchange, other securities or held to gain interest in the bank. The Charity's investment objective remains the same, that is, to provide a balance between long term capital growth, security, availability, and maximisation of annual income. All investments are carried at their fair value.
Movement in year
| Market value at 1 April Add : additions at cost Less : disposals at market value and in year gain/(loss) on disposal Add/Less : gain/loss on revaluation Add : gain/(loss) on in year disposals Less : movements in broker held bank accounts Market value at 31 March |
2023/24 £'000 2,378 0 (310) 278 0 0 2,346 |
2022/23 £'000 2,941 0 (500) (63) 0 0 |
|---|---|---|
| 2,378 |
37
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
NOTES TO THE ACCOUNTS
Fixed asset investments (cont.)
Investments in common investment funds
| 31 March 2024 | total | |
|---|---|---|
| ‘OCLA Investments Management Ltd | £000 | |
| ‘COMF Charities Ethical Investment Fund Accunnulation units |
432,074 43,332 432 074 |
2,211 134 2.211 |
| Income units | 43,332 | 14 |
| 475,406 475,406 |
2,346 2,346 |
Risk Strategy in terms of investments held with investment managers
In line with the investment objectives of the Charity, it is essential that the correct balance of risk and rewards is conveyed to the Investment Managers running the Charity portfolios.
The view of the Charitable Funds Committee is that risk levels should be based on Low and Medium risk.
Low risk
The Charity is prepared to accept a small degree of short-term volatility, in the hope of producing slightly higher returns. The Charity seeks to reduce the risk of returns being exceeded by inflation, while retaining a consistent pattern of returns and accepts the possibility of frequent but minor fluctuations in capital value.
Medium risk
The Charity is prepared to accept risk of some short-term volatility in the pursuit of returns over the medium to long term which should maintain capital after the effects of inflation and is aware that more significant fluctuations in capital are possible.
Liquidity risk
This is anticipated to be low as the Fund holds a diversified portfolio but one biased towards real assets including global equities, property and infrastructure, and with only modest exposure to bonds and cash.
Currency risk
There is an element of currency risk as there are some overseas equities within the portfolio, but these should be minimal as the portfolio is diversified.
38
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
NOTES TO THE ACCOUNTS
14 Analysis of debtors
| Debtors under 1 year Other debtors Total |
31 March 2024 £'000 114 114 |
31 March 2023 £'000 44 |
|---|---|---|
| 44 |
Other debtors represent any sums owed to the Charity by a related party, Calderdale and Huddersfield NHS Foundation Trust, for income collected by the Trust on behalf of the Charity of £2,400 - 2022/23: £6,000, donations received but not banked until April 2024 of £601 2022/23: £3,000 and also a legacy notified but not yet received of £111,000. - 2022/23: £35,000.
15 Analysis of cash and cash equivalents
| Analysis of cash at bank National Westminster current account Short term investments and deposits National Westminster deposit account Total 16 Analysis of liabilities Creditors under 1 year Other creditors |
31 March 2024 £'000 0 124 124 31 March 2024 £'000 (72) (72) |
31 March 2023 £'000 0 273 |
|---|---|---|
| 273 | ||
| 31 March 2023 £'000 (195) |
||
| (195) |
16 Analysis of liabilities
Other creditors mainly represent sums owed by the Charity to a related party, Calderdale and Huddersfield NHS Foundation Trust of £54,000 - 2022/23: £188,000, for costs incurred by the NHS Foundation Trust on behalf of the Charity in the furtherance of the Charity’s objectives. It also includes the cost of items or services received but not yet invoiced or paid of £18,000 - 2022/23: £7,000.
39
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
NOTES TO THE ACCOUNTS
17 Provisions for liabilities and charges
The Charity does not have any provisions for liabilities and charges and, as such, has not disclosed any such liabilities and charges in the Statement of Financial Activities.
18 Reconciliation of net income/(expenditure) to net cash flow from operating activities
| activities | ||
|---|---|---|
| 31 March 2024 | 31 March 2023 | |
| £'000 | £'000 | |
| Net income/(expenditure) for 2023/24 (as per SOFA) | 12 | (689) |
| Adjustments for: (Gains)/losses on investments Dividends from investments Other income (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by (used in) operating activities |
(278) (4) 0 (70) (124) (465) |
63 (4) 0 (40) (29) (699) |
19 Analysis of charitable funds
All the unrestricted funds are designated funds and are available for any charitable purpose relating to the NHS but are mainly for the stated purpose contained in the fund title. This is in recognition of the non-binding wishes of donors when making their generous gifts. In the interests of accountability and transparency a complete breakdown of all designated (earmarked) funds is available upon written request.
40
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
NOTES TO THE ACCOUNTS
20 Material legacies
Legacy income is accounted for as incoming resources in the Statement of Financial Activities either upon receipt or where the legacy is probable. Material legacies are those which have been notified as at 31 March 2023 but not recognised as incoming resources in the Statement of Financial Activities due to the conditions for recognition not being met.
----- Start of picture text -----
Material legacies as at 31 March 2024
2023/24 2022/23
Date Estimated Date Estimated
notification value of notification value of
Notification received from received legacy Notification received from received legacy
£'000 £'000
n/a n/a 0 n/a n/a 0
0 0
----- End of picture text -----
21 Outstanding Approvals
Expenditure that has been approved internally but not yet delivered or services not yet provided has been summarised below.
Calderdale and Huddersfield NHS Foundation Trust is the main related party to the Charity. Payments to creditors are made through the Trust and reimbursed from the Charitable Funds. The Trust paid £589,824 - 2022/23: £917,476 on behalf of the Charity.
During the year, no donations were received from Calderdale and Huddersfield Solutions Limited, a wholly owned subsidiary of Calderdale and Huddersfield NHS Foundation Trust – 2022/23: £0.
41
CALDERDALE AND HUDDERSFIELD NHS FOUNDATION TRUST CHARITABLE FUNDS
ACCOUNTS – 2023/24
NOTES TO THE ACCOUNTS
23 Trustees’ remuneration, benefits and expenses
During the year, no Board Member of the Trust received either remuneration or expenses and none of them, or key management staff, has undertaken any material transactions with the Calderdale and Huddersfield NHS Foundation Trust Charitable Funds. There were also no Trustee indemnity insurance costs during the year.
24 Role of volunteers
Our fund managers are, in effect, volunteers. There are about 200 Trust staff members who manage how the Charity’s designated funds should be spent. Each fund manager has been delegated responsibility for approving expenditure of less than £500.
42