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2020-12-31-accounts

REGISTERED COMPANY NUMBER: 06470940 (England and Wales) REGISTERED CHARITY NUMBER: 1125579

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

(A COMPANY LIMITED BY GUARANTEE)

Stein Richards Chartered Accountants

10 London Mews Paddington London W2 1HY

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2020

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Statement of Financial Position 8 to 9
Notes to the Financial Statements 10 to 18
Detailed Statement of Financial Activities 19 to 20

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

REPORT OF THE TRUSTEES

for the Year Ended 31 December 2020

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 December 2020. 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 aims

The Dispensaire Français - Société Française de Bienfaisance cares for French and French speaking people in need, whether medical, social and/or financial need. This support is provided benevolently by French and French speaking health professionals, counsellors and visitors for the public benefit.

Public benefit

The objects and activities of the Dispensaire Français are for the benefit of the public. The patients at the Dispensaire Français have difficulties to access the UK health system, either because they are not registered in the NHS or simply do not understand the system and do not speak English. The 36 health professionals all give their time on a regular basis and are drawn from a wide range of specialities, reflecting the needs of the beneficiaries. The Dispensaire Français provides key services in preventing French-speaking people from falling through the gaps:

o Relief from suffering for those that may have endured severe physical and emotional trauma.

o Preventing further health declines through practical and well-informed intervention.

o Preventing individual cases becoming highly costly emergency admissions, thereby saving the NHS significant sums.

The Dispensaire Français with 15 volunteers involved in social activities provides support, companionship and financial help to a range of beneficiaries from young people to senior citizens:

" Help and support for young people going through a difficult time, including financial help (to cover the cost of a hostel)

" Companionship and financial support for senior citizens with a regular club and home visits as well as visits to museums and concerts

In making decisions about the charity's activities to deliver its objects, the trustees have had due regard to the Charity Commission's public benefit guidance and also when exercising any powers or duties, to which the guidance is relevant.

Page 1

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

REPORT OF THE TRUSTEES

for the Year Ended 31 December 2020

ACHIEVEMENT AND PERFORMANCE

Review of the Year

During 2020, the Dispensaire has continued to provide expert medical services to those French and French speaking patients who for various reasons such as an inability to speak English or a lack of understanding of the NHS have difficulty accessing NHS services.

The Dispensaire's 2020 activity was negatively affected by the Covid-19 pandemic as the clinic had to close offices during the first lockdown. But the Charity remained in operation throughout the year moving to online consultations at the end March and reopening to in person consultations progressively from June.

The Charity provided 1,099 consultations in 2020 (down from 1,672 in 2019), of which 272 were online consultations, with the help of more than 30 doctors and health professionals who have given their time and expertise during the year for no charge. The demand in the field of psychology and psychiatry was particularly high due to the impact of the Covid-19 crisis. The first quarter of 2021 has seen a strong level of activity with close to 538 consultations (compared with 451 in the first quarter of 2020) of which 143 were online, supported by the arrival of 9 new doctors and health professionals.

The Dispensaire 15 volunteers maintained close contact with the isolated and elderly people in need of social or financial help, in particular those affected by the pandemic, and the activity remained stable in this area.

The youth walk-in clinic's activity was halted in March but resumed in September, mostly offering online consultations but progressively moving back to in person meetings.

Fundraising events had to be cancelled due to Covid-19 and fundraising activity was limited for most of the year. However, the Dispensaire launched a fundraising campaign among its regular donors in the last quarter of 2020, which gained traction towards year end and into 2021.

We wish to extend our warmest thanks to the health professionals, volunteers, trustees and staff for their dedicated and hard work through the difficult Covid-19 experience. The Dispensaire could not exist without them.

FINANCIAL REVIEW

Financial position

The statement of financial activities shows the total incoming resources for the year of £178,200 (2019: £292,001). In addition to lower revenues from medical receipts and fundraising events, the investment assets generated lower revenues as invested companies cut their dividend payments in the face of the Covid-19 crisis, while the Dispensaire halted receipts from rents on its property during the first lockdown. Expenditures on the other hand were broadly stable as the Charity decided to keep its employees on the payroll. Hence, despite exceptional donations from the French government and the success of our year end fundraising initiative, the Charity generated losses on its activities of £35,564 (2019 gains of £72,983). We expect to generate further losses in 2021 as investment and fundraising revenues in particular continue to be impaired by the Covid-19 pandemic.

The statement of financial position shows a satisfactory position with unrestricted funds amounting to £2,956,608 (2019: £3,070,539).

Investment policy

The investment assets are marketable financial instruments, which are considered to be low risk. The structure of the portfolio aims at generating income and at preserving their long-term value. The selection of investments aims to integrate responsible investment criteria in particular excluding investments in companies in the tobacco sector.

Page 2

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

REPORT OF THE TRUSTEES

for the Year Ended 31 December 2020

FINANCIAL REVIEW

Reserves policy

The origins of the Dispensaire Français go back to 1867 when the French Hospital opened in London under the patronage of Queen Victoria. Funded by private and public funds, its vocation was to provide free medical services to all French and French speakers in need. This is still its mission today.

The Dispensaire received a generous donation in 2000 when the former convalescence home of the Hospital Français based in Brighton was sold and its trustees decided to give the proceeds of the sale £1,400,000 to the Dispensaire Français.

Though they did not restrict the use of the funds, it was clear that the gift was made to endow the Dispensaire with enough funds to pursue its historical mission in the future as it had done in the past 150 years.

The reserves/capital of the Dispensaire are part of its legacy and meant to ensure its continuity. Though unrestricted they have traditionally been treated as if they were an endowment by the trustees. The reserves which have been invested in property and investments are not available for spending on day to day activities.

Accordingly, these reserves have been designated in the 2013 annual accounts to give a clear picture of the free reserves, which are available for spending on day to day activities. Until recently the Dispensaire's income from capital was sufficient to cover the cost of operations.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal and Administrative

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Page 3

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

REPORT OF THE TRUSTEES

for the Year Ended 31 December 2020

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The "Dispensaire Français" changed its name to Dispensaire Francais-Société Française de Bienfaisance after the merger in June 2014 of "Dispensaire Francais" with the "Société Française de Bienfaisance".

'The "French Clinic" otherwise "Dispensaire Français" was the successor to the "French Hospital and Dispensary". It was a Charity registered under the number 1125579. 'Le Dispensaire Français-the French Clinic' was incorporated by the trustees on 11 January 2008. The new charity was registered on 1 June 2009. The Trust fund was transferred to the company in 2009. The Company is a company limited by guarantee no 06470940.

The Société Française de Bienfaisance (French Benevolent Society, Ben no 21) was created in 1842 to help French people in hardship with financial help and support.

With similar missions, the two organisations worked closely together for many years. To develop services, the Trustees decided to join the 2 organisations and this merger was voted on 3 June 2014.

The Trustees of the French Benevolent Society joined the board of Trustees of the Dispensaire Francais and the charity's name was changed to Dispensaire Francais-Société Francaise de Bienfaisance (DF-SFB).

The President and the Honorary Treasurer of the Dispensaire Français-Société Française de Bienfaisance are elected at the Annual General Meeting.

The Medical Committee is composed of the health professionals who practice at Le Dispensaire Français. It recruits fellow health professionals and advises the Trustees on medical matters. The Medical Committee elects its Chairman.

The Social Committee is composed of the volunteers who organise home visits and a club for elderly, isolated people and give advice and financial support to young people.

The day to day management of the Dispensaire Français-Société Française de Bienfaisance is in the care of the Administrator who acts in accordance with the directives of the President.

The Dispensaire Français-Société Française de Bienfaisance is committed to making its premises available to other French Charitable Organisations with similar objectives.

The names of the Trustees who served during the year and up to the date of signing the accounts, together with those of the Administrator and relevant organisations, appear on page 4 of this report.

Information about the charity can be found on its website at www.df-sfb.org.uk.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06470940 (England and Wales)

Registered Charity number

1125579

Registered office

184 Hammersmith Road London W6 7DJ

Page 4

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

REPORT OF THE TRUSTEES

for the Year Ended 31 December 2020

Trustees

Mr L H Debacker Company Director Dr C Dewast-Gagneraud Gynaecologist Prof. N S Hakim Surgeon Dr O Lhopitallier Medical Doctor Ms M A Madelain Former Lawyer Ms F Mallevays Former Banker Ms E Markart Banker (resigned 2.6.20) Ms E M C Maxwell Chartered Certified Accountant S A H Moollan Barrister B R M Oppetit Banker (resigned 2.6.20) D H Stockley Former Company Director Ms B M Williams Former Company Director B M G Charteris Company Director Former Manager C d'Angelin Company Director G Bazard Consul Général de France Ms O Lombard Mourre Ms J Lamirel (appointed 4.5.21)

Company Secretary Ms M Chabrelie

Independent Examiner Rolanda Hyams F.C.A Stein Richards Chartered Accountants 10 London Mews Paddington London W2 1HY

Bankers

CAF Bank Limited 25 Kings Hill West Malling Kent ME19 4JQ

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Jun 1, 2021

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

Magali Chabrelie (Jun 1, 2021 16:17 GMT+1)...............................................................................

Ms M Chabrelie - Secretary

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

Independent examiner's report to the trustees of Dispensaire Francais-Societe Francaise De Bienfaisance French Clinic And French Benevolent Society ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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.

Rolanda Hyams F.C.A Stein Richards Chartered Accountants 10 London Mews Paddington London W2 1HY

Date: .............................................Jun 1, 2021

Page 6

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 December 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Medical Receipts and Patient fees
Other trading activities
2
Investment income
3
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
Charitable Expenditure
Other
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 31.12.20
Unrestricted
funds
£
80,346
15,736
-
82,118
178,200
35,972
177,043
749
213,764
(78,367)
(113,931)
3,070,539
2,956,608		 31.12.19
Total
funds
£
134,029
27,645
18,007
112,320
292,001
41,334
176,852
832
219,018
188,134
261,117
2,809,422
3,070,539

The notes form part of these financial statements

Page 7

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY (REGISTERED NUMBER: 06470940)

STATEMENT OF FINANCIAL POSITION

31 December 2020

Notes
FIXED ASSETS
Tangible assets
10
Investments
11
CURRENT ASSETS
Prepayments and accrued income
Cash at bank
12
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
14
Unrestricted funds
TOTAL FUNDS		 31.12.20
Unrestricted
funds
£
898,344
1,726,424
2,624,768
20,631
328,635
349,266
(17,426)
331,840
2,956,608
2,956,608
2,956,608
2,956,608		 31.12.19
Total
funds
£
909,142
1,789,348
2,698,490
20,689
368,355
389,044
(16,995)
372,049
3,070,539
3,070,539
3,070,539
3,070,539

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 8

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY (REGISTERED NUMBER: 06470940)

STATEMENT OF FINANCIAL POSITION - continued

31 December 2020

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 and authorised for issue by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: Jun 1, 2021

.............................................

E M C Maxwell - Trustee

c d'angelin c d'angelin (Jun 1, 2021 15:47 GMT+1).............................................

C d'Angelin - Trustee

The notes form part of these financial statements

Page 9

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the 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.

Going concern

The accounts have been prepared on the going concern basis. The trustees consider that there are no material uncertainties regarding the charity's ability to continue in operational existence for the foreseeable future, which is deemed to be 12 months from the date of approval of the financial statements.

This statement has been made after consideration of the continuing impact of the global Covid-19 pandemic. Whilst it is recognised that income streams will be affected by these external factors, the cash reserves of the charity compared to the annual running costs, irrespective of income received, mitigates any material uncertainty of the charity's ability to operate for the period stated above. The liquidity of the charity's investment portfolio has also been taken into account in the assertion above.

Legal status of the charity

The Charity is a company limited by guarantee and has no share capital. Liability of each trustee in the event of winding-up is limited to £1.

Income

Income from rents is accounted for in the periods in which it is receivable and the charity becomes entitled to the income.

Dividends and interest, and the tax recoverable thereon, are brought into the financial statements when receivable. Grants are accounted for when entitlement to the grant and the grant is receivable.

Expenditure

Expenditure is accounted for on an accruals basis and is recognised when there is a legal or constructive obligation to pay for the expenditure. All costs have been directly attributed to one of the functional categories of resources expended in the Statement of Financial Activities. The Charity is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT.

Tangible fixed assets

Tangible fixed assets are shown at cost plus any incidental expenses of acquisition less accumulated depreciation. Depreciation is applied to the Buildings to write off the cost over a period of 50 years of the estimated rebuilding cost of £550,000 at the Balance Sheet date. The element relating to the land in the cost of the Freehold has not been depreciated. Depreciation is calculated to write off the cost of fixed assets on a straight-line basis over their expected useful lives. The rate of depreciation on medical equipment is 10% per annum, and on office equipment at 25-33.33% per annum.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

General funds are unrestricted funds, which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

continued...

Page 10

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020

1. ACCOUNTING POLICIES - continued

Fund accounting

The maintenance fund has been designated by the Trustees for the future maintenance of the building - see Note 14.

The Designated Fund-Property and Investments is an unrestricted fund representing the value of property and investments, net of the revaluation Fund. This fund is invested for the long term and is not available for spending on day to day activities.

Investments

Investments are included at their market value at the year end.

The variation in the market value of investments tracked in the "revaluation fund" as an "unrealised gain/loss". Upon the sale of redemption of investments a "realised gain/loss" arises from the difference between cost and market value (see Notes 11 and 14)

At the same time any historical gain/loss pertaining to this asset in the "revaluation fund" is cancelled and transferred to the General Fund (see Notes 11 and 14).

Financial assets

The charity's principal financial assets consist of cash and cash equivalents and other debtors. Other debtors are measured initially at transaction price and subsequently at amortised cost.

Financial liabilities and equity instruments

The charity's principal financial liabilities include other creditors, and accruals which are measured initially at transaction price and subsequently at amortised cost.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments, all of which are available for use by the charity unless otherwise stated.

2. OTHER TRADING ACTIVITIES

3.

Fundraising events
INVESTMENT INCOME
Rents received
Investment Income		 31.12.20
31.12.19
£
£
-
18,007
31.12.20
31.12.19
£
£
26,120
39,324
55,998
72,996
82,118
112,320		 31.12.20
31.12.19
£
£
-
18,007
31.12.20
31.12.19
£
£
26,120
39,324
55,998
72,996
82,118
112,320
112,320

continued...

Page 11

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020

4. RAISING FUNDS

Investment management costs

Investment management costs
31.12.20 31.12.19
£ £
Investment Management Fees 14,417 15,510
SUPPORT COSTS
Governance
costs
£
Charitable Expenditure 11,573
Support costs, included in the above, are as follows:
Governance costs
31.12.20 31.12.19
Charitable Total
Expenditure activities
£ £
Examiners fees 5,100 4,826
Accountancy fees 2,285 1,707
Legal fees 4,188 2,036
11,573 8,569
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.12.20 31.12.19
£ £
Depreciation - owned assets 13,078 12,641

5. SUPPORT COSTS

6.

continued...

Page 12

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

8. STAFF COSTS

The average monthly number of employees during the year was as follows:

9.

31.12.20 31.12.19
Charity staff 4 4
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies 134,029
Charitable activities
Medical Receipts and Patient fees 27,645
Other trading activities 18,007
Investment income 112,320
Total 292,001
EXPENDITURE ON
Raising funds 41,334
Charitable activities
Charitable Expenditure 176,852
Other 832
Total 219,018
Net gains on investments 188,134
NET INCOME 261,117

continued...

Page 13

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2020

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
10.
TANGIBLE FIXED ASSETS
COST
At 1 January 2020
Additions
At 31 December 2020
DEPRECIATION
At 1 January 2020
Charge for year
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019
11.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2020
Additions
Disposals
Revaluations
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019		 Freehold
property
£
1,075,051
-
1,075,051
167,955
11,681
179,636
895,415
907,096		 Plant and
machinery
£
52,855
2,280
55,135
50,809
1,397
52,206
2,929
2,046		 Unrestricted
funds
£
2,809,422
3,070,539
Totals
£
1,127,906
2,280
1,130,186
218,764
13,078
231,842
898,344
909,142
Listed
investments
£
1,789,348
503,660
(488,217)
(78,367)
1,726,424
1,726,424
1,789,348		 Unrestricted
funds
£
2,809,422
3,070,539
Totals
£
1,127,906
2,280
1,130,186
218,764
13,078
231,842
898,344
909,142
Listed
investments
£
1,789,348
503,660
(488,217)
(78,367)
1,726,424
1,726,424
1,789,348
3,070,539
Totals
£
1,127,906
2,280
1,130,186
218,764
13,078
231,842
898,344
909,142
Listed
investments
£
1,789,348
503,660
(488,217)
(78,367)
1,726,424
1,726,424
1,789,348

continued...

Page 14

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020

11. FIXED ASSET INVESTMENTS - continued

There were no investment assets outside the UK.

12. CASH AT BANK

Deposit with COIF
Deposit with Investment Managers
Bank account
CAF 1 year fixed term
CAF 60 Shawbrook savings
Cash in Hand
Total
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
Accrued expenses
14.
MOVEMENT IN FUNDS
At 1.1.20
£
Unrestricted funds
General fund
300,391
Revaluation Fund
410,017
Maintenance Fund
73,704
Designated Fund-Property and Investments
2,286,427
3,070,539
TOTAL FUNDS
3,070,539		 Net
movement
in funds
£
(35,564)
(78,367)
-
-
(113,931)
(113,931)		 31.12.20
Total
funds
£
37,629
40,250
59,328
100,000
91,291
137
328,635
31.12.20
£
3,225
14,201
17,426
Transfers
between
funds
£
(749)
37,191
(3,014)
(33,428)
-
-		 31.12.19
Total
funds
£
35,367
70,291
57,055
120,087
85,332
223
368,355
31.12.19
£
2,165
14,830
16,995
At
31.12.20
£
264,078
368,841
70,690
2,252,999
2,956,608
2,956,608

Page 15

continued...

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
178,200
Revaluation Fund
-
178,200
TOTAL FUNDS
178,200
Comparatives for movement in funds
At 1.1.19
£
Unrestricted funds
General fund
157,906
Revaluation Fund
282,449
Maintenance Fund
76,879
Designated Fund-Property and Investments
2,292,188
2,809,422
TOTAL FUNDS
2,809,422
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
292,001
Revaluation Fund
-
292,001
TOTAL FUNDS
292,001		 Resources
expended
£
(213,764)
-
(213,764)
(213,764)
Net
movement
in funds
£
72,983
188,134
-
-
261,117
261,117
Resources
expended
£
(219,018)
-
(219,018)
(219,018)		 Gains and
losses
£
-
(78,367)
(78,367)
(78,367)
Transfers
between
funds
£
69,502
(60,566)
(3,175)
(5,761)
-
-
Gains and
losses
£
-
188,134
188,134
188,134		 Movement
in funds
£
(35,564)
(78,367)
(113,931)
(113,931)
At
31.12.19
£
300,391
410,017
73,704
2,286,427
3,070,539
3,070,539
Movement
in funds
£
72,983
188,134
261,117
261,117

Page 16

continued...

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020

14. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Revaluation Fund
Maintenance Fund
Designated Fund-Property and Investments
TOTAL FUNDS		 At 1.1.19
£
157,906
282,449
76,879
2,292,188
2,809,422
2,809,422		 Net
movement
in funds
£
37,419
109,767
-
-
147,186
147,186		 Transfers
between
funds
£
68,753
(23,375)
(6,189)
(39,189)
-
-		 At
31.12.20
£
264,078
368,841
70,690
2,252,999
2,956,608
2,956,608

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
Revaluation Fund
TOTAL FUNDS		 Incoming
resources
£
470,201
-
470,201
470,201		 Resources
expended
£
(432,782)
-
(432,782)
(432,782)		 Gains and
Movement
losses
in funds
£
£
-
37,419
109,767
109,767
109,767
147,186
109,767
147,186		 Gains and
Movement
losses
in funds
£
£
-
37,419
109,767
109,767
109,767
147,186
109,767
147,186
147,186
147,186

Revaluation Fund

The revaluation fund tracks the fluctuation in market value of the investments. An adjustment is made to the Revaluation Fund for investments disposed of during the current year by cancelling cumulative unrealised gain and/or loss that has arisen in a previous period. The gain on historic cost is transferred to the General Fund. The balance on the Revaluation Reserve represents the accumulated unrealised gains on current holdings of investments.

Maintenance Fund

The Trustees have made the decision to create a Maintenance Fund to which an amount will be allocated each year as required out of the annual surplus to create a fund for future maintenance of the building.

Designated Fund

This is the Property and Investments Fund held for a long term and is not available for spending on day to day activities.

continued...

Page 17

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2020.

Page 18

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2020

for the Year Ended 31 December 2020
31.12.20 31.12.19
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Sponsorships and Donations 26,641 122,647
French Government Grants 53,040 10,122
Societe Clinique Subscriptions 665 1,260
80,346 134,029
Other trading activities
Fundraising events - 18,007
Investment income
Rents received 26,120 39,324
Investment Income 55,998 72,996
82,118 112,320
Charitable activities
Medical Receipts and Patient fees 15,736 27,645
Total incoming resources 178,200 292,001
EXPENDITURE
Raising donations and legacies
Social Allowance 14,241 14,397
Other trading activities
Outpatient and Medical Expenditure 7,314 11,427
Investment management costs
Investment Management Fees 14,417 15,510
Charitable activities
Salaries 99,012 100,217
Pensions 478 569
Business rates and waste 9,210 8,557
Insurance 7,364 4,710
Light and heat 3,495 3,362
Telephone 9,382 11,438
Carried forward 128,941 128,853

This page does not form part of the statutory financial statements

Page 19

DISPENSAIRE FRANCAIS-SOCIETE FRANCAISE DE BIENFAISANCE FRENCH CLINIC AND FRENCH BENEVOLENT SOCIETY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

for the Year Ended 31 December 2020

31.12.20 31.12.19
£ £
Charitable activities
Brought forward 128,941 128,853
Postage and stationery 2,013 1,890
Website and Advertising 1,877 4,130
Sundries 661 85
Hire of equipment 219 89
Repairs 3,014 3,175
Cleaning 7,098 7,517
Miscellaneous expense 108 944
Training 6,155 5,517
Maintenance Service Contracts 2,088 1,267
Fundraising 216 2,176
Improvements to property 11,682 11,681
Plant and machinery 1,398 959
165,470 168,283
Other
Bank charges 749 832
Support costs
Governance costs
Examiners fees 5,100 4,826
Accountancy fees 2,285 1,707
Legal fees 4,188 2,036
11,573 8,569
Total resources expended 213,764 219,018
Net (expenditure)/income (35,564) 72,983

This page does not form part of the statutory financial statements

Page 20