Charity Registration No. 1122497
Company Registration No. 06430101 (England and Wales)
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
COMPANY LIMITED BY GUARANTEE
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
10 Bridge Street Christchurch Dorset United Kingdom BH23 1EF
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Statement of trustees responsibilities | 3 |
| Independent auditor's report | 4 - 7 |
| Consolidated statement of financial activities | 8 |
| Consolidated balance sheet | 9 |
| Balance sheet | 10 |
| Consolidated statement of cash flows | 11 |
| Notes to the accounts | 12 - 22 |
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr. R Renaut Mr. P Papworth Mr. M Schuster-Bruce Mr. M Mould Charity number 1122497 Company number 06430101 Registered office Ward 10 Royal Bournemouth Hospital Castle Lane East Bournemouth Dorset United Kingdom BH7 7DW Auditor TC Group 10 Bridge Street Christchurch Dorset United Kingdom BH23 1EF
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report and financial statements for the year ended 31 March 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “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)”.
Objectives and activities
The charity's objective is the advancement of health for the public benefit through the donation of medical equipment and other assets to University Hospitals Dorset NHS Foundation Trust.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.
Information on matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.
Achievements and performance
2023/24 has been another successful year of trading for the charity and its subsidiary, Private Health University Hospitals Dorset Limited (formerly The Bournemouth Private Clinic Limited).
During the year the charity has strengthened its reserves holding. These reserves will continue to provide a fund for donations as well as making future contributions towards hospital running costs. These donations and contributions will provide financial support to initiatives that improve patient services and enhance patient experience.
Financial review
It is the policy of the charity to build and maintain sufficient unrestricted funds so that it can fund planned future equipment expenditure requirements. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s planned funding commitments and maintain its current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Page 1
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management
The charity is a company limited by guarantee registered in England and Wales with the company number 06430101. It is a registered charity (registered charity number 1122497). The provisions governing the company are set out in its articles of association and in the Companies Act 2006.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr. R Renaut
Ms. D Fleming (Resigned 31 March 2024) Mr. P Papworth Mr. M Schuster-Bruce Mr. M Mould
None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Private Health University Hospitals Dorset Limited (formerly The Bournemouth Private Clinic Limited) is a wholly owned subsidiary of the charity. It is a company limited by shares and the charity holds one share with a nominal value of £1.
Auditor
A Resolution to appoint auditors for the ensuring year will be considered at the annual general meeting. This will consider alignment to the Trusts external audit provider KPMG.
Disclosure of information to auditor
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.
The trustees report was approved by the Board of Trustees.
..............................
Mr. P Papworth
17th December 2024 Dated: .........................
Page 2
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees, who are also the directors of Bournemouth and Poole Healthcare Trust (1) for the purpose of company law, are responsible for preparing the Trustees Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
Opinion
We have audited the financial statements of Bournemouth and Poole Healthcare Trust (1) (the ‘parent charitable company’) and its subsidiary (together the ‘group’) for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities (including the Income and Expenditure Account), the Consolidated Balance Sheet, the Balance Sheet of the parent charitable company, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
-
give a true and fair view of the state of the group’s and parent charitable company’s affairs as at year ended 31 March 2024, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Page 4
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
-
the information given in the trustees Report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the directors’ report included within the trustees report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
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the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of directors’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.
Page 5
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Extent to which the audit was considered capable of detecting irregularities, including fraud
The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.
Our approach was as follows:
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We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;
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We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102, the Companies Act 2006 and the Charities Act 2011) and the relevant charity regulations in the UK;
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We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration;
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We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;
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We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.
Page 6
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidanceforauditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Dean Pullen
(Senior Statutory Auditor)
for and on behalf of TC Group
Statutory Auditor Office: Christchurch
Date:.........................
Page 7
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Notes Income and endowments from: Fundraising activities 3 Investment income Other income 4 Total income and endowments Expenditure on: Fundraising activities 5 Charitable activities 6 Total resources expended Net income/(expenditure) for the year/ Net movement in funds Fund balances at 1 April 2023 Fund balances at 31 March 2024 |
2024 £ 3,999,131 63,470 - 4,062,601 3,669,557 63,863 3,733,420 329,181 2,341,399 2,670,580 |
2023 £ 3,745,464 20,822 300,000 4,066,286 3,375,484 135,330 3,510,814 555,472 1,785,927 2,341,399 |
|---|---|---|
The movements in funds all relate to unrestricted funds.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
Page 8
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 10 | - | 2,342 | ||
| Current assets | |||||
| Debtors | 12 | 85,004 | 460,100 | ||
| Cash at bank and in hand | 3,783,184 | 3,010,751 | |||
| 3,868,188 | 3,470,851 | ||||
| Creditors: amounts falling due within | 13 | ||||
| one year | (1,197,608) | (1,131,794) | |||
| Net current assets | 2,670,580 | 2,339,057 | |||
| Total assets less current liabilities | 2,670,580 | 2,341,399 | |||
| Income funds | |||||
| Unrestricted funds | 2,670,580 | 2,341,399 | |||
| 2,670,580 | 2,341,399 |
17/12/2024
The accounts were approved by the Trustees on .........................
.............................. Mr. P Papworth Trustee
Company Registration No. 06430101
Page 9
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
BALANCE SHEET
AS AT 31 MARCH 2024
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Fixed assets | ||||||
| Investments | 1 | 1 | ||||
| Current assets | ||||||
| Debtors | 12 | - | 303,300 | |||
| Cash at bank and in hand | 3,085,097 | 2,808,267 | ||||
| 3,085,097 | 3,111,567 | |||||
| Creditors: amounts falling due within | 13 | |||||
| one year | (809,385) | (1,134,933) | ||||
| Net current assets | 2,275,712 | 1,976,634 | ||||
| Total assets less current liabilities | 2,275,713 | 1,976,635 | ||||
| Income funds | ||||||
| Unrestricted funds | 2,275,713 | 1,976,635 | ||||
| 2,275,713 | 1,976,635 | |||||
| The accounts were approved by the Trustees on ......................... 17/12/2024 |
.............................. Mr. P Papworth Trustee
Company Registration No. 06430101
Page 10
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
| Notes Cash flows from operating activities Cash generated from/(absorbed by) operations 15 Investing activities Proceeds on disposal of tangible fixed assets Net cash generated from/(used in) investing activities Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2024 £ £ 772,433 - - - 772,433 3,010,751 3,783,184 |
2023 £ £ 515,942 300,000 300,000 - 815,942 2,194,809 3,010,751 |
|---|---|---|
Page 11
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
Charity information
Bournemouth and Poole Healthcare Trust (1) is a private company limited by guarantee incorporated in England and Wales. The registered office is Ward 10, Royal Bournemouth Hospital, Castle Lane East, Bournemouth, Dorset, BH7 7DW. The directors of the company are the trustees. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The financial statements consolidate the results of the charity and its wholly owned subsidiary, Private Health University Hospitals Dorset Limited (formerly The Bournemouth Private Clinic Limited) on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objects.
1.3 Charitable funds
Restricted funds are subject to specific conditions by donors as to how they may be used. There are no restricted funds during the period.
1.4 Incoming resources
Incoming resources from fundraising activities represent amounts receivable in respect of the provision of medical treatment to customers during the period. It is recognised when the customer is admitted for treatment and measured at the fair value of the consideration receivable for the medical treatment.
The trustees have reviewed the classification of the activities carried out by the wholly owned subsidiary and have deemed that they are to be disclosed as fundraising activities rather than as charitable activities.
Investment income is included in the accounts when receivable.
Page 12
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.5 Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of resources. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs are the expenses incurred in fulfilling the charitable company's constitutional and statutory requirements.
Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Single or multi-year grants are accounted for when either the recipient has a reasonable expectation that they will receive a grant and the trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the Trust.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Equipment straight line over 4 years Medical equipment based on specialist expert advice
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year. This is detailed in note 4 of the accounts.
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
The investment in the subsidiary Private Health University Hospitals Dorset Limited (formerly The Bournemouth Private Clinic Limited) is valued at cost.
Current asset investments relate to fixed term deposits and are stated at the lower of cost and net realisable value.
Page 13
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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FOR THE YEAR ENDED 31 MARCH 2024
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Trade debtor recoverability
The trustees have assessed the recoverability of trade debtors and provided for doubtful debt accordingly. This has been calculated based on the trustees’ judgement of amounts owing to the charity up to the date of signing the financial statements.
3 Consolidated income from Fundraising activities
| Private Health University Hospitals Dorset Limited turnover Income from hire of equipment Consumables recharged |
2024 £ 3,674,844 - 324,287 3,999,131 |
2023 £ 3,396,710 6,000 342,754 |
|---|---|---|
| 3,745,464 |
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BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
4 Other income
| Unrestricted | Total | |
|---|---|---|
| funds | ||
| 2024 | 2023 | |
| £ | £ | |
| Net gain on disposal of tangible fixed assets | - | 300,000 |
5 Consolidated expenditure on Fundraising activities
| Purchases Training costs and subsistence Insurance Uniforms Computer software and maintenance Admin services Financial services Printing, postage and stationery Subscriptions Sundry Advertising Depreciation Bad debts written off (including movement on provisions) Analysis by fund Unrestricted funds |
2024 £ 3,416,807 8,413 15,413 1,648 3,600 60,465 67,926 2,678 17,066 3,722 600 2,342 68,877 3,669,557 3,669,557 |
2023 £ 3,203,176 7,702 9,011 - 5,685 33,365 62,597 1,619 28,879 3,130 10,380 1,405 8,535 |
|---|---|---|
| 3,375,484 3,375,484 |
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BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
6 Consolidated expenditure on Charitable activities
| Governance costs: Audit fee Bank charges Legal fees |
2024 £ 10,540 19,830 33,493 63,863 |
2023 £ 7,538 17,732 110,060 |
|---|---|---|
| 135,330 |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8 Consolidated net movement in funds
| Consolidated net movement in funds | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Net movement in funds is stated after charging/(crediting) | ||
| Fees payable to the company's auditor for the audit of the group's financial | 10,540 | 7,538 |
| statements | ||
| Depreciation of owned tangible fixed assets | 2,342 | 1,405 |
| Profit on disposal of tangible fixed assets | - | (300,000) |
9 Employees
There were no contracted employees of the charity during the current or prior year. From September 2019, administrative and operating functions of the charity were provided by staff contracted to University Hospitals Dorset NHS Foundation Trust. During the year ended 31 March 2024, the charity's subsidiary was charged £60,465 (2023 - £33,365) by University Hospitals Dorset NHS Foundation Trust for services provided by their staff.
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BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10 Tangible fixed assets
| Group | Equipment |
|---|---|
| £ | |
| Cost | |
| At 1 April 2023 | 7,025 |
| At 31 March 2024 | 7,025 |
| Depreciation and impairment | |
| At 1 April 2023 | 4,683 |
| Depreciation charged in the year | 2,342 |
| At 31 March 2024 | 7,025 |
| Carrying amount | |
| At 31 March 2024 | - |
| At 31 March 2023 | 2,342 |
The charity had no tangible fixed assets at 31 March 2024 or 31 March 2023. The group fixed assets shown above are therefore the fixed assets of the Subsidiary Private Health University Hospitals Dorset Limited.
Page 18
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 Income from the subsidiary's trading income
The charity owns the whole of the issued ordinary share capital of Private Health University Hospitals Dorset Limited (formerly The Bournemouth Private Clinic Limited), a company registered in England. The subsidiary's principal activity is the management of private healthcare operations. All activities have been consolidated on a line by line basis in the Statement of Financial Activities. The total taxable profit is gifted to the charity.
A summary of the results of the subsidiary is shown below:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Turnover | 3,674,844 | 3,396,710 |
| Cost of sales | (3,092,520) | (2,850,462) |
| Gross profit | 582,324 | 546,248 |
| Administrative expenses | (313,371) | (304,749) |
| Net interest receivable | 6,796 | 2,742 |
| Net income for the year | 275,749 | 244,241 |
| Gift Aid donation | (245,646) | (250,860) |
| Retained profit/(loss) for the year | 30,103 | (6,619) |
| The aggregate of the net assets, liabilities and funds was: | ||
| 2024 | 2023 | |
| £ | £ | |
| Tangible fixed assets | - | 2,342 |
| Current assets | 783,091 | 362,583 |
| Current liabilities | (1,127,099) | (736,269) |
| Amounts owed from / (to) the charity | 738,875 | 736,109 |
| Funds (representing one ordinary share of £1 each) | 1 | 1 |
| Retained profit/(loss) | 394,866 | 364,764 |
Page 19
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12 Debtors
| Amounts falling due within one year: Trade debtors Amounts due from related parties Other debtors Prepayments and accrued income 13 Creditors: amounts falling due within one year Trade creditors Amounts due to group undertakings Amounts due to related parties Accruals and deferred income Other creditors |
Group 2024 £ 75,280 - - 9,724 85,004 Group 2024 £ 366,136 - 744,359 77,391 9,722 1,197,608 |
2023 £ 148,614 - 300,000 11,486 460,100 2023 £ 576,199 - 486,368 59,544 9,683 1,131,794 |
Charity 2024 £ - - - - - Charity 2024 £ 40,676 738,875 25,364 4,470 - 809,385 |
2023 £ - 3,300 300,000 - |
|---|---|---|---|---|
| 303,300 | ||||
| 2023 £ 390,754 736,109 - 8,070 - |
||||
| 1,134,933 |
14 Related party transactions
The Charity and Group are under the control of University Hospitals Dorset NHS Foundation Trust (the Hospital) by virtue of the powers within its Articles of Association.
During the year the Group received income totalling £324,287 (2023 - £358,329) and made purchases of £2,325,653 (2023 - £2,046,343) from the Hospital. As at 31 March 2024 a net balance of £744,359 was owed to the Hospital (2023 - £486,368).
Page 20
BOURNEMOUTH AND POOLE HEALTHCARE TRUST (1)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
| 15 Consolidated cash generated from operations Surplus/(deficit) for the year Adjustments for: Gain on disposal of fixed asset Depreciation and impairment of tangible fixed assets Movements in working capital: (Increase)/Decrease in debtors Increase/(Decrease) in creditors Cash generated from/(absorbed by) operations |
2024 2023 £ £ 329,181 555,472 2,342 - 1,405 (300,000) 375,096 (186,672) 65,814 445,737 772,433 515,942 |
2024 2023 £ £ 329,181 555,472 2,342 - 1,405 (300,000) 375,096 (186,672) 65,814 445,737 772,433 515,942 |
|---|---|---|
| 515,942 |
Page 21