REGISTERED COMPANY NUMBER: 06075390 (England and Wales) REGISTERED CHARITY NUMBER: 1120579
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2023
for
The League of Friends of Cranleigh Village Hospital (A Company Limited by Guarantee)
Brewers Chartered Accountants Bourne House Queen Street Gomshall Surrey GU5 9LY
The League of Friends of Cranleigh Village Hospital
Contents of the Financial Statements for the Year Ended 31 July 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 13 |
| Detailed Statement of Financial Activities | 14 |
The League of Friends of Cranleigh Village Hospital
Report of the Trustees for the Year Ended 31 July 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and activities
The Charity's objective is to support the work of the Cranleigh Village Hospital and the Cranleigh Medical Practice by voluntary service and / or the provision of funds by way of grants for specific items, as set out in the Charity's Objects and Rules. The Trustees consider that these objectives comply with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.
Public benefit
The benefit of the charity's work are the provision of medical equipment and amenities available to all those receiving nursing and medical care in Cranleigh.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Charity continued to make grants and generate income which supported the activities of the Cranleigh village medical community.
Investment performance
Interest rates on cash balances improved over last year but remain subject to future fluctuating rates.
Rathbones Investment Management continue to manage investments on a Discretionary basis with a brief of providing income with a cautious approach consistent with growth potential. All investment activities are monitored by the board.
The investment performance this year yielded income of £68,619 compared to £57,607 last year, with dividends rising by £6,247 and interest rising by £4,765.
FINANCIAL REVIEW
Income generation
The Charity's gross unrestricted income for the year was £196,480, an increase compared to £58,448 last year, arising from a significant legacy receipt and investment returns rising this year. The Trustees thank all the Charity's supporters for their work and generosity throughout the year.
Investment policy and objectives
The board is responsible for the Charity's Investment policy. The Trustees have appointed Rathbones Investment Management to manage investments on a discretionary basis with a cautious approach to risk, with a view to maintaining income and keeping asset values ahead of inflation. Investment activities are monitored by the board and reviewed at the Trustees' regular meetings.
Reserves policy
The Charity has no restricted reserves but the Officers and Trustees regularly consider this bearing in mind the nature of the income and expenditure where possible and the need to match the cost of further equipment requested by the existing hospital, day centre and medical practice against the need to build up funds to support any new enlarged hospital and clinics.
Grant expenditure
Grants were made during the year totalling £74,816 compared to £26,700 last year, which includes regular donations for End of Life Care as further detailed in note 4 on page 10.
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The League of Friends of Cranleigh Village Hospital
Report of the Trustees for the Year Ended 31 July 2023
FUTURE PLANS
Over the past few years we have fully funded the new Radiography Department, contributed to the now well established Maternity and Early Years Hub, as well as the Orthopaedics Department, and renovation and improved facilities for patients and staff of the Outpatients areas. The Outpatients department continues to expand with new services and we shall do our best to encourage this with funding as required. Already agreed for payment in the next financial year is funding of £8,202 for extra equipment for the Outpatients Department, £30,000 Phyllis Tuckwell grant for another year and up to £30,000 for renovating and fitting out more consulting space.
We have continued to provide financial support for the Medical Practice to enhance the patient experience and to Phyllis Tuckwell Hospice at Home, which augments the cover provided in the Cranleigh area.
The awareness of the League’s funding of defibrillators we placed around the village together with those funded by the Lions has been highlighted with new signage.
Current ongoing commitments can be met from investment income arising from our portfolio managed by Rathbones Investment Management which continue to return a satisfactory yield. To spread risk, a proportionate amount of cash is still held in both instant access and term accounts, and we continually consider ways to maximise our income from deposits and investments.
Our substantial funds will enable us to continue our long standing remit to support the work and patients of the medical facilities in Cranleigh and district. While there are no current plans for expansion of the Radiography Department, our ambitions in this area would involve substantial expenditure which could involve a fundraising exercise.
We continue in discussions with the Royal Surrey County Hospital which it is hoped will culminate in the establishment of an Acute Treatment Centre for Cranleigh, and we are happy to consider how we can contribute funding to help realise this ambition.
We are sorry to announce the deaths of two of our longest serving and energetic trustees, Mrs Norman and Mrs Wood. They will be missed but we have been fortunate to recruit three new trustees with individual skills which will help us in our future work.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The League of Friends of Cranleigh Village Hospital was set up in 1959 and is governed by its Objects & Rules which were adopted in 1985 and last amended on 13 June 2001 and also by its Memorandum & Articles of Association. The charity is a registered charity and details can be found on the Charity Commissions website. The charity constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
A maximum of 24 trustees are elected by the members present at the Annual General Meeting. They retire by rotation every three years and can be re-elected. Candidates must show knowledge of and an interest in the Hospital and the community it serves and be willing to give the time necessary to meet the Charity's aims. Trustees are also selected to give the Charity a good mix of appropriate professional skills.
Organisational structure
The members and subscribers of the League of Friends have delegated the administration of the charity to the board. The board consists of the Chairman – Dr Verdon, Secretary - Mrs Camp and Treasurer - Mr Keeping and currently 11 other members. The board conducts and manages the business of the League and board members act as Trustees. The board is also responsible for the appointment of Trustees. The board of directors met four times during the year.
Induction and training of new trustees
The Charity, in recognising the special requirements of a Charitable Company, encourages the Trustees to make themselves duly aware of the needs of the Charity by studying relevant guidance, undertaking appropriate reading and, where necessary, attending suitable courses.
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The League of Friends of Cranleigh Village Hospital
Report of the Trustees for the Year Ended 31 July 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees have a duty to identify and review risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. A Risk Management Policy is in place and Risk Assessments are updated annually, covering the main areas of financial management and trustee and public liability.
The Charity maintains Trustee Insurance through its membership of Attend.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06075390 (England and Wales)
Registered Charity number
1120579
Registered office
Bourne House Queen Street Gomshall Surrey GU5 9LY
Trustees
Dr Bundy Mrs Camp Mr Cheesman Dr Christie Mrs Davies Miss Davis Mrs Francis Mrs Gravill Mrs Hurtley Mr Keeping Ms L M King (appointed 19.10.22) Mrs L MacDermott (appointed 19.4.23) Mrs Norman (deceased 5.10.22) Dr Verdon Mr A G Walton (appointed 19.10.22) Mrs Wood (deceased 8.2.23)
Company Secretary
Mrs Camp
Independent Examiner
Andrew Skilton, ACA Brewers Chartered Accountants Bourne House Queen Street Gomshall Surrey GU5 9LY
INVESTMENT MANAGER
Rathbones Investment Management Fiennes House 32 Southgate Street Winchester SO23 9EH
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The League of Friends of Cranleigh Village Hospital
Report of the Trustees for the Year Ended 31 July 2023
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 25 October 2023 and signed on its behalf by:
........................................................................... Mrs Camp - Secretary
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Independent Examiner's Report to the Trustees of The League of Friends of Cranleigh Village Hospital
Independent examiner's report to the trustees of The League of Friends of Cranleigh Village Hospital ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Andrew Skilton, ACA
Brewers Chartered Accountants Bourne House Queen Street Gomshall Surrey GU5 9LY
Date: 25 October 2023
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The League of Friends of Cranleigh Village Hospital
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 July 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities Charitable activities Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.7.23 Unrestricted fund £ 127,861 68,619 196,480 17,930 80,724 98,654 (68,155) 29,671 2,807,332 2,837,003 |
31.7.22 Total funds £ 841 57,607 58,448 18,243 33,019 51,262 (42,283) (35,097) 2,842,429 2,807,332 |
|---|---|---|
The notes form part of these financial statements
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The League of Friends of Cranleigh Village Hospital (Registered number: 06075390)
Balance Sheet 31 July 2023
| Notes FIXED ASSETS Investments 7 CURRENT ASSETS Debtors 8 Investments 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds: General fund TOTAL FUNDS |
31.7.23 Unrestricted fund £ 2,527,735 6,561 272,346 33,841 312,748 (3,480) 309,268 2,837,003 2,837,003 2,837,003 2,837,003 |
31.7.22 Total funds £ 2,413,158 4,821 278,703 113,962 397,486 (3,312) 394,174 2,807,332 2,807,332 2,807,332 2,807,332 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
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The League of Friends of Cranleigh Village Hospital (Registered number: 06075390)
Balance Sheet - continued 31 July 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 25 October 2023 and were signed on its behalf by:
............................................. Mrs Camp - Trustee
............................................. Dr Verdon - Trustee
............................................. Mr Keeping - Trustee
The notes form part of these financial statements
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The League of Friends of Cranleigh Village Hospital
Notes to the Financial Statements for the Year Ended 31 July 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable charity, which is a public benefit entity, have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in the UK and Republic of Ireland (FRS 102) (2nd edition, effective January 2019), "Charities SORP" and Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure and irrecoverable vat
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Irrecoverable VAT is charged against the activity for which the expenditure was incurred.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transactions value and subsequently measured at their settlement value.
Fund accounting
Funds held by the Charity are all unrestricted general funds - these are funds which can be used in accordance with the charitable objectives at the discretion of the Trustees.
Going concern
The trustees have assessed whether the use of the going concern basis is appropriate, especially in light of Coronavirus, and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular, the trustees have considered the charity's forecasts and projections as amended to take into account Coronavirus implications. After making enquiries, the trustees have concluded that there is a reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Fixed asset investments
All fixed asset investments are included at market value at the balance sheet date.
continued...
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The League of Friends of Cranleigh Village Hospital
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
2. INVESTMENT INCOME
| 2. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.7.23 | 31.7.22 | ||
| £ | £ | ||
| Dividends and investment return received | 62,108 | 55,861 | |
| Deposit account interest | 6,511 | 1,746 | |
| 68,619 | 57,607 | ||
| 3. | RAISING FUNDS | ||
| Investment management costs | |||
| 31.7.23 | 31.7.22 | ||
| £ | £ | ||
| Portfolio management | 17,930 | 18,243 | |
| 4. | GRANTS PAYABLE | ||
| 31.7.23 | 31.7.22 | ||
| £ | £ | ||
| Charitable activities | 74,816 | 26,700 |
The Charity made grants and donations to the following; £30,000 (2022 - £26,250) to Phyllis Tuckwell re Hospice at Home, £20,000 (2022 - £Nil) to Cranleigh Medical Practice, £23,529 (2022 - £Nil) to Royal Surrey County Hospital NHS Foundation Trust regarding various medical equipment and £1,287 for a defibrillator.
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.
Trustees' expenses
£588 (2022 - £1,834) of sundry expenses were reimbursed to 2 (2022 - 3) Trustees in the normal course of their duties.
6. GOVERNANCE COSTS
Governance costs include £3,480 (2022 - £3,312) with regard to Independent Examination fees.
continued...
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The League of Friends of Cranleigh Village Hospital
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
7. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1 August 2022 Additions Disposals Revaluations At 31 July 2023 NET BOOK VALUE At 31 July 2023 At 31 July 2022 There were no investment assets outside the UK. Cost or valuation at 31 July 2023 is represented by: Valuation in 2023 Historical cost at the year end was £2,027,333 (2022 - £1,785,836). 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 9. CURRENT ASSET INVESTMENTS Cash held as investment 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income |
31.7.23 £ 6,561 31.7.23 £ 272,346 31.7.23 £ 3,480 |
Listed investments £ 2,413,158 362,481 (179,115) (68,789) 2,527,735 2,527,735 2,413,158 Listed investments £ 2,527,735 31.7.22 £ 4,821 31.7.22 £ 278,703 31.7.22 £ 3,312 |
|
|---|---|---|---|
continued...
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The League of Friends of Cranleigh Village Hospital
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.8.22 £ 2,807,332 2,807,332 are as follows: Incoming Resources resources expended £ £ 196,480 (98,654) 196,480 (98,654) At 1.8.21 £ 2,842,429 2,842,429 |
Net movement in funds £ 29,671 29,671 Gains and losses £ (68,155) (68,155) Net movement in funds £ (35,097) (35,097) |
At 31.7.23 £ 2,837,003 2,837,003 Movement in funds £ 29,671 29,671 At 31.7.22 £ 2,807,332 2,807,332 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 58,448 | (51,262) | (42,283) | (35,097) |
| TOTAL FUNDS | 58,448 | (51,262) | (42,283) | (35,097) |
continued...
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The League of Friends of Cranleigh Village Hospital
Notes to the Financial Statements - continued for the Year Ended 31 July 2023
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.8.21 £ 2,842,429 2,842,429 |
Net movement in funds £ (5,426) (5,426) |
At 31.7.23 £ 2,837,003 2,837,003 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming Resources Gains and Movement resources expended losses in funds £ £ £ £ 254,928 (149,916) (110,438) (5,426) 254,928 (149,916) (110,438) (5,426) |
|---|---|
Included within Unrestricted General Funds is £500,402 (2022 - £627,322) with regard to a fair value gain arising on Fixed Asset Investments.
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2023.
13. COMPANY LIMITED BY GUARANTEE
The Charity is a company limited by guarantee and has no share capital. The members liability is limited where if the Charity is dissolved each member who is a current member or has been a member within the last twelve months will contribute a sum (not exceeding £1) towards the payment of the debts and liabilities of the Charity incurred before he or she ceases to be a member, and of the costs, charges and expenses of winding up, and the adjustments of the rights of the contributories among themselves.
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The League of Friends of Cranleigh Village Hospital
Detailed Statement of Financial Activities for the Year Ended 31 July 2023
| Detailed Statement of Financial Activities for the Year Ended 31 July 2023 |
||
|---|---|---|
| 31.7.23 | 31.7.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 680 | 841 |
| Legacies | 127,181 | - |
| 127,861 | 841 | |
| Investment income | ||
| Dividends and investment return received | 62,108 | 55,861 |
| Deposit account interest | 6,511 | 1,746 |
| 68,619 | 57,607 | |
| Total incoming resources | 196,480 | 58,448 |
| EXPENDITURE | ||
| Investment management costs | ||
| Portfolio management | 17,930 | 18,243 |
| Charitable activities | ||
| Subscriptions | 660 | 674 |
| Printing, postage, stationery and training | ||
| costs | 1,768 | 2,333 |
| Accountancy and legal fees | 3,480 | 3,312 |
| Grants to institutions | 74,816 | 26,700 |
| 80,724 | 33,019 | |
| Total resources expended | 98,654 | 51,262 |
| Net income before gains and losses | 97,826 | 7,186 |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset | ||
| investments | 57,220 | 94,553 |
| Net income | 155,046 | 101,739 |
This page does not form part of the statutory financial statements
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