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← Surrey and Borders Partnership NHS Foundation Trust Charity

2025-03-31-accounts

Surrey and Borders Partnership NHS Foundation Trust Charity

Annual report and financial statements Registered Charity No. 1126477 31 March 2025

Contents

Legal and administrative information 1
Trustee's Report 2
Statement of trustees’ responsibilities in respect of the annual report
and the financial statements 7
Independent Auditor report to the members of Surrey and Borders
Partnership NHS Foundation Trust Charitable Fund 8
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Accounts 14

LEGAL AND ADMINISTRATIVE INFORMATION

Surrey and Borders Partnership NHS Foundation Trust Charity

Registered charity No. 1126477

Banker

Royal Bank of Scotland Premier Place 2 1/2 Devonshire Square London EC2M 4BA.

Investment Managers

1 Scottish Widows Bank plc PO Box 12757 67 Morrison Street Edinburgh EH3 8YJ

2 Investec Wealth & Investment Ltd 2 Gresham Street London EC2V 7QN

Auditor

KPMG LLP 15 Canada Square London E14 5GL

Principal Office of Corporate Trustee

18 Mole Business Park Randalls Road Leatherhead Surrey KT22 7AD

Page 1

Trustee’s Annual Report

Objectives and Activities

The Charity's objectives are to hold the trust fund and apply the income:-

FOR THE GENERAL OR SPECIFIC PURPOSES OF SURREY AND BORDERS PARTNERSHIP NHS FOUNDATION TRUST OR FOR ALL OR ANY CHARITABLE PURPOSE OR PURPOSES RELATING TO THE NATIONAL HEALTH SERVICE.

Whilst respecting the wishes of the donors, the Corporate Trustee has ultimate discretion to apply the charitable funds in accordance with the NHS Act 2011 sections 93 and 94, where service changes have taken place or it is impractical to maintain the separate designated fund.

The objectives of the Charity therefore are to further such charitable purpose or purposes as the Trustee thinks fit, relating to health services of Surrey and Borders Partnership NHS Foundation Trust, including research, or any other part of the service associated with the Trust.

In meeting these objectives, the Charity has relied on existing fund balances and income from investment to finance its activities. The Charity has used available funds as much as possible to provide grants for the benefit of people who use our services, carers and staff of Surrey and Borders Partnership NHS Foundation Trust. With the appointment of a fundraiser this year the Charity will now actively fundraise to aim to operate to break even or operate at a surplus going forward.

The Charity’s unrestricted funds may be used for general purposes for the benefit of the Charity.

Public Benefit Statement

The Corporate Trustee confirms that the guidance contained in the Charity Commission’s general guidance on public benefit has been referred to when reviewing the Charity aims and objectives in planning future activities. It remains a key role of the Trustee/Charitable Funds Management Committee to discuss, consider and assess the extent of public benefit can be achieved from each request from the Trust. The Trustee is satisfied that the aims and objectives of the charity are in public benefit.

Achievements, Performance and Plans for the Future

The strategy of the Charity is to support its related constituent bodies by providing funds to benefit people who use our services and staff.

The Charity continues to become a member of the NHS Charities Together during 2024-25. The Charity received a second generous grant from St Kilda’s Trust of £14k to continue to support the garden space and pavilion at St Ebba’s and another Wild Swim project for the forthcoming year which is to benefit the people who use the services and staff.

We appointed our first Head of Fundraising in July 2024 and so we are part way through the first year of being a more ‘active’ fundraising charity as how other NHS Charities operate. We now have a stand-alone Charity logo and branded materials such as tablecloths, pull up banners, t-shirts and stickers which were purchased using the remaining monies from the NHSCT Development grant we received. The Charity has ‘live’ social media accounts and is working on raising awareness and improving visibility of the charity internally, both at a general level and specific ward/department level, so that ‘grateful patients’ or family members can make ad hoc donations or leave a gift if they choose and that they are aware the Charity exists for this purpose.

The Charity has secured grants from The Wates Family Enterprise Trust for staff wellbeing support and £12k from Your Fund Surrey Small Community Projects to go towards art and garden works at our new mental health inpatient service, Silverwood in 2025-26.

Page 2

We have had successes with event participants taking on various runs such as the Surrey Half and London Marathon to raise funds for us and donations from existing community supporters. We are grateful for the continuing donations we receive via our Just Giving Page and the for the fundraising campaigns that are being set up and this year we have raised £4k from these.

Focus going forward will be on applying for Trusts and Foundations grants, seeking out and building relationships with Philanthropists and high-level givers who reside and support across our geographical and subject area and investigating and trying to secure corporate donations and long-term partnerships among other asks. Aligning our plans with the overarching Communications strategy and messaging being developed and other departments is vital to work collaboratively and for benefit across the trust, not just the Charity in silo. This will also help us grow from the ground-up engagement and for the long-term.

The Trustee does not expect any significant changes in the objectives of the charity in the forthcoming year. The fund will continue to support a wide range of activities, benefiting both people who use our services and staff, subject to satisfactory funding arrangements. These include outdoor and indoor resources for people who use our services and staff purchase of equipment and training. In doing this, the Trustee will refer to the guidance contained in the Charity Commission "NHS Charities guidance" when reviewing aims and objectives and planning future activities.

Financial Review

During the year, the Charity’s total expenditure was £246k, of which £123k related directly to charitable activities supporting people who use our services and staff within the NHS Trust. These activities included the purchase of therapy resources, indoor and outdoor equipment, music therapy sessions, and theatre performances across several sites.

A grant of £14k was received from St Kilda’s, specifically for the benefit of the Children and Young Persons Services in Epsom. Of this amount, £8k funded four wild swimming sessions, while £3k supported the renovation and maintenance of the garden therapy area.

A total of £19k was allocated to initiate the design and development of sensory gardens at Larkfield and Rosewood, which are expected to be completed in 2025–26.

Funding of £37k from the NHS Charities Together Recovery Grant was used to refurbish staff rooms at Farnham Road Hospital, including the purchase of new furniture.

The Charity continues to operate a Staff Hardship Fund to assist colleagues experiencing financial difficulties during the ongoing cost-of-living crisis. This initiative supports the Trust’s broader commitment to colleagues’ emotional and mental wellbeing. During the year, £8k was distributed through this fund.

The cost of raising funds totalled £72k, which included £5k in investment management fees. In 2023–24, the Charity received £25k from the NHS Charities Together Development Grant to support the salary of a new fundraising post. The remaining £42k of salary costs given as a donation in kind from Surrey and Borders Partnership NHS Trust.

Support costs totalling £51k, of which £13k were apportioned across funds based on the proportion of balances held and the remaining £38k of salary costs given as a donation in kind from Surrey and Borders Partnership NHS Trust.

During the period, the Charity’s total income was £142k, comprising £12k in donations, £80k in donations in kind, £27k in grants, £1k in legacies, and £22k in investment income. This represents a decrease from the £127k received in 2023–24, primarily due to the additional grants received from NHS Charities Together in that year.

Page 3

Overall, the Charity recorded a net deficit of £93k, with expenditure exceeding income for the period.

Structure Governance and Management

The Charity was established by a Declaration of Trust Deed (No. 415) dated 27 August 2008. It was subsequently registered with the Charity Commission on 29 October 2008 under the name Surrey and Borders Partnership NHS Foundation Trust General Purpose Charity and Related Charities (Charity No. 1126477).

On 21 October 2024, the Charity formally changed its name to Surrey and Borders Partnership NHS Foundation Trust Charity, replacing its previous title.

Surrey and Borders Partnership NHS Foundation Trust Charity include funds held on behalf of HCRG Care Group (formerly Virgin Care), Central Surrey Health and First Community Health & Care.

Within the Charity, there are several designated funds relating to wards and departments. Each designated funds have fund advisors, who provide day-to-day advice on the use of funds in accordance with the Standing Financial Instructions, Standing Orders and the delegated authority approved by the Corporate Trustee. The Trustee retains overall responsibility for the governance and use of these funds and has the authority to revoke a fund advisors’ remit or, subject to any specific donor restrictions, to determine how funds are applied.

The Corporate Trustee of the Charity is Surrey and Borders Partnership NHS Foundation Trust. The Executive Directors and Non-Executive Directors of the Trust Board collectively share the responsibility for ensuring that the NHS body fulfils its duties as Corporate Trustee in managing the Charitable Funds.

On behalf of the Corporate Trustee, the Charitable Fund Management Committee has been delegated responsibility for the operational management and oversight of the Charity’s funds.

Board of Directors of the Corporate Trustee made up as follows:

Non-Executive Directors

Aruna Mehta, Chair Andrew George, Deputy Chair[1] Susan Scholefield, Senior Independent Director[2] Vivek Govil[3] Carol Pearson[4] Sue Waterhouse Denise Day Bernadette Topham[5] Joe Thompson[6]

1 Left 31 August 2024

2 Left 30 April 2024

3 Appointed as Senior Independent Director from 12 June 2024

4 Appointed as Deputy Chair from 20 June 2024

5 Joined 1 May 2024

6 Joined 11 November 2024

Page 4

Executive Directors

Graham Wareham, Chief Executive Helen Rostill, Deputy Chief Executive / Chief Therapies Officer Emma Whicher, Chief Medical Officer Lorna Payne, Chief Operating Officer Jo Lynch, Chief Nursing Officer Lei Wei, Chief Finance Officer[7] Sophie Gregory, Acting Chief Finance Officer[8] Roshan Patel, Chief Finance Officer[9]

Membership of the Charitable Fund Management Committee is made up as follows:

Carol Pearson – Chair Lei Wei – Chief Finance Officer (up until 19[th] July 2024) Sophie Gregory – Acting Chief Finance Officer (from 22[nd] July to 10[th] November 2024) Roshan Patel - Chief Finance Officer (commenced 11[th] November 2024) Julie Gaze – Director of Governance and Planning Lorna Payne – Chief Operating Officer Andrew George – Non Executive Director (up until 31[st] August 2024) Susan Scholefield – Non Executive Director (up until 30[th] April 2024) Sue Waterhouse – Non Executive Director Bernadette Topham – Non Executive Director (commenced 1[st] May 2024)

The Director of Finance and the Chief Finance Officer has particular responsibility to ensure that the spending is in accordance with the objects of the Charitable Fund; priorities agreed by the Corporate Trustee; that the criteria for spending charitable monies are fully met; that full accounting records are maintained; and that devolved decision making or delegated arrangements are in accordance with the policies and procedures set out by the Board on behalf of the Corporate Trustee. Terms of reference for the Trustee have been developed and are reviewed annually which clearly set out the roles and responsibilities of the Corporate Trustee.

Trustee Induction

New Executive and Non Executive Directors of Surrey and Borders Partnership NHS Foundation Trust are made aware of their responsibility as Corporate Trustee of Surrey and Borders Partnership NHS Foundation Trust Charity. Guidance is provided to the Corporate Trustee and training when this is needed.

Relationships with Related Parties / External Bodies

The Charity works closely with Surrey and Borders Partnership NHS Foundation Trust and individuals within the organisation. Staff within the organisation identify, advise and assist the Corporate Trustee in monitoring the use of the Charitable Funds .

7 Left 19 July 2024 8 From 22 July – 10 November 2024 9 Joined 11 November 2024

Page 5

Investment Policy and Performance

The Charity's investment powers are broad but subject to a restriction that no speculative investments, specifically futures or traded options, are allowed. The majority of the funds are held with Investec Wealth & Investment Ltd who manage these investments at a medium risk. There are specific restrictions which include no investments on tobacco, alcohol, armaments, pornography, gambling, high interest rate lending stocks and companies with more than 10% revenues in thermal coal/tar sands. The value of the Investment balance held with Investec as of 31[st] March 2025 is £493k. The Charity also has some funds held with Scottish Widows Bank plc in a deposit account. The value of funds held with Scottish Widows as of 31[st] March 2025 is £247k.

Reserves Policy

The Charitable Fund Management Committee expects that funds are to be fully spent. The Committee is mindful of the legal duty to apply charity funds within a reasonable time of receiving them. The funds do not have any long term commitments.

The Charitable Funds Management Committee has reviewed operational risk associated with the Charity and regular financial reports are produced and distributed with a view to minimising risk and ensure that both spending and firm financial commitments remain in line with income. Income and expenditure is monitored to detect trends as part of the risk management process to avoid unforeseen calls on reserves.

Risk Management Policy

The Charity is in the process of establishing a stand-alone risk register that will be reviewed regularly which will continue to report into the Trust wider risk register where necessary. Where appropriate, systems and procedures have been established to mitigate risks, and these are also reviewed regularly. The major risks include the ability to sustain the current level of income, a fall in investment values and returns, and unforeseen changes in the operation of the NHS. These risks are mitigated by active management and review of investments and regular liaison with Surrey and Borders Partnership NHS Foundation Trust and other stakeholders.

A Big Thank You

On behalf of the people who have used our services and staff within the NHS Trust who have benefited from improved services due to donations, grants and legacies, the Corporate Trustee would like to thank all the people who used our services, relatives and staff who have made charitable donations.

Aruna Mehta Chair

18 Mole Business Park Randalls Road Leatherhead Surrey KT22 7AD

Date: 10 December 2025

Page 6

Statement of Trustees’ responsibilities in respect of the Trustees’ Annual Report and the Financial Statements

Under the trust deed and rules of charity law, the trustee is responsible for preparing a Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations. The trustee is required to prepare the financial statements in accordance with UK Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources for that period.

In preparing these financial statements, generally accepted accounting practice entails that the trustee:

The trustee is required to act in accordance with the trust deed of the charity, within the framework of trust law. They are responsible for keeping accounting records which are sufficient to show and explain the charity’s transactions and disclose at any time, with reasonable accuracy, the financial position of the charity at that time, and to enable the trustee to ensure that, where any statements of accounts are prepared by them under section 132(1) of the Charities Act 2011, those statements of accounts comply with the requirements of regulations under that provision. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.

The trustee is responsible for the maintenance and integrity of the financial and other information included on the charity’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

By Order of the Trustee

Signed:

Chair

10[th] December 2025 Date

Surrey and Borders Partnership NHS Foundation Trust

Page 7

Independent auditor’s report to the Trustee of Surrey and Borders Partnership NHS Foundation Trust Charity

Opinion

We have audited the financial statements of Surrey and Borders Partnership NHS Foundation Trust (“the charity”) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, Balance Sheet, and related notes, including the accounting policies in note 1. In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities are described below. We have fulfilled our ethical responsibilities under, and are independent of the charity in accordance with, UK ethical requirements including the FRC Ethical Standard. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion.

Going concern

The trustees have prepared the financial statements on the going concern basis as they do not intend to liquidate the charity or to cease its operations, and as they have concluded that the charity’s financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the date of approval of the financial statements (“the going concern period”).

In our evaluation of the trustees’ conclusions, we considered the inherent risks to the charity’s business model and analysed how those risks might affect the charity’s financial resources or ability to continue operations over the going concern period.

Our conclusions based on this work:

However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the above conclusions are not a guarantee that the charity will continue in operation.

Fraud and breaches of laws and regulations – ability to detect

Identifying and responding to risks of material misstatement due to fraud

To identify risks of material misstatement due to fraud (“fraud risks”) we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:

Page 8

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

As required by auditing standards, we perform procedures to address the risk of management override of controls, in particular the risk that management may be in a position to make inappropriate accounting entries. On this audit we do not believe there is a fraud risk related to revenue recognition because the nature of the income received by the Charity is non-complex with limited opportunity for manipulation.

We did not identify any additional fraud risks.

We performed procedures including:

• Identifying journal entries to test based on risk criteria and comparing the identified entries to supporting documentation. These included those posted to unusual account combinations.

Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general sector experience and through discussion with the directors and other management (as required by auditing standards), from inspection of the Charity’s regulatory and legal correspondence and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the Charity is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related charities law), and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Charity is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: health and safety, data protection, and anti-bribery laws, recognising the nature of the Charity’s activities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

Context of the ability of the audit to detect fraud or breaches of law or regulation

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 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.

Page 9

In addition, as with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

Other information

The trustee are responsible for the other information, which comprises the Trustee’s Annual Report. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether, based on our financial statements audit work, the information therein is materially misstated or inconsistent with the financial statements or our audit knowledge. We are required to report to you if:

We have nothing to report in these respects.

Matters on which we are required to report by exception

Under the Charities Act 2011 we are required to report to you if, in our opinion:

We have nothing to report in these respects.

Trustee’s responsibilities

As explained more fully in their statement set out on page 7, the trustees are responsible for: the preparation of financial statements which give a true and fair view; such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error; assessing the charity’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 they either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities

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 our opinion in an auditor’s report. Reasonable assurance is a high level of assurance,but does not 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

A fuller description of our responsibilities is provided on the FRC’s website at www.frc.org.uk/auditorsresponsibilities.

Page 10

The purpose of our audit work and to whom we owe our responsibilities

This report is made solely to the charity’s trustees as a body, in accordance with section 144 of the Charities Act 2011 (or its predecessors) and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s 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 charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Sarah McKean

for and on behalf of KPMG LLP, Statutory Auditor

Chartered Accountants KPMG LLP 15 Canada Square, Canary Wharf, London, E14 5GL

15 December 2025

Page 11

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Notes
Income and Endowments
Donations and Legacies
3
Donation in Kind
3
Grants
3
Income from Investments
3
Total Income and Endowment
Expenditure
Expenditure on Raising Funds
4
Expenditure on Charitable Activities
7
Other Expenditure
6
Total Expenditure
Net Income/(Expenditure)
Net Gains/(Losses) on Investments
Net Movement in Funds
Reconciliation of Funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
Endowment
Funds
31 March
2025 Total
Funds
31 March
2024 Total
Funds
£’000
£’000
£’000
£’000
£’000
13
0
0
13
7
80
0
0
80
0
0
27
0
27
97
13
9
0
22
23
106
36
0
142
127
(45)
(27)
0
(72)
(5)
(28)
(95)
0
(123)
(125)
(46)
(5)
0
(51)
(12)
(119)
(127)
0
(246)
(142)
(13)
(91)
0
(104)
(15)
6
5
0
11
36
(7)
(86)
0
(93)
21
`
489
377
2
868
847
482
291
2
775
868

The notes on pages 14 to 23 form part of these financial statements. All income and expenditure is derived from continuing operations.

Page 12

BALANCE SHEET AS AT 31 MARCH 2025

31 March 2025 31 March 2024
Notes £’000 £’000
Fixed Assets
Investments 9 493 567
Current Assets
Debtors 10 4 4
Prepayments 10 14 25
Cash at bank and in hand 292 314
Total Current Assets 310 343
Current liabilities
Creditors: Amounts falling due within one year 11 (28) (42)
Net Current Assets / ( Liabilities ) 282 301
Total Net Assets 775 868
Funds of the Charity
Unrestricted Funds 482 489
Restricted Funds 291 377
Endowment 2 2
Total Funds 775 868

The notes on pages 14 to 24 form part of these accounts.

The financial statements on pages 12 to 13 and accompanying notes were approved by the Board of Trustees on 10 December 2025 and were signed on its behalf by:

Aruna Mehta Chair

Charity Registered number: 1126477

Page 13

Surrey and Borders Partnership NHS Foundation Trust Charity Annual report and financial statements 31 March 2025

NOTES TO THE ACCOUNTS

Note 1 Principal Accounting Policies

a) Basis of Preparation

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Under FRS 102 the Charity is exempt from disclosing a cash flow statement, as the gross income is below £500,000.

The Trust constitutes a public benefit entity as defined by FRS 102.

The financial statements have been prepared on a going concern basis which the Trustees consider to be appropriate for the following reasons.

Consequently, the Trustees are confident that the charity will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements.

b) Income and Endowments

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. Gifts in kind are valued at estimated fair market value at the time of receipt.

Grants are included in the Statement of Financial Activities on a receivable basis. In the event that the grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in the creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

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Surrey and Borders Partnership NHS Foundation Trust Charity Annual report and financial statements 31 March 2025

Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the Charity.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.

c) Expenditure Recognition

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 settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (e) below.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year or multi-year grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Charity.

d) Allocation of support costs

Support costs relating to charitable activities have been apportioned across the funds as a percentage of funds held in each department fund. Support costs are those costs which do not relate directly to a single activity. These include some staff costs, IT support and audit fees. The allocation of support costs is analysed in note 6.

e) Expenditure on raising funds

The costs of generating funds are those costs attributable to generating income, resources for the charity, other than those costs incurred in undertaking charitable activities or the costs incurred in undertaking trading activities in furtherance of the Charity’s objects. The cost of raising funds represents fundraising costs including staff directly involved together with investment management costs.

f) Expenditure on charitable activities

Costs of charitable activities comprise all costs incurred in the pursuit of the charitable objects of the charity. These costs, where not wholly attributable, are apportioned between the categories of charitable expenditure in addition to the direct costs. The total costs of each category of charitable expenditure therefore include grants made, governance costs, and an apportionment of overheads as shown in note 7 Expenditure on Charitable Activities and are allocated between restricted and unrestricted funds.

g) Irrecoverable VAT

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Page 15

Surrey and Borders Partnership NHS Foundation Trust Charity Annual report and financial statements 31 March 2025

h) Structure of funds

(ii) Designated

The Trustee has chosen to earmark these funds for specific areas within the general charitable purposes (see note 14).

Further details of each fund are disclosed in note 14.

i) Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

Asset purchases and sales are recognised at date of trade. Unquoted pooled financial investments are stated at fair value, the basis of fair value being the market value of the underlying investments held. These valuations are provided by the fund managers and are subject either to independent valuation or annual audit.

The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Trust does not acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the Charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

j) Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

k) Pensions

The Charity does not directly employ staff and therefore has no pension liabilities.

l) Critical accounting estimates

There are no critical accounting estimates or judgements.

Page 16

Surrey and Borders Partnership NHS Foundation Trust Charity Annual report and financial statements 31 March 2025

Note 2 Related party transactions and trustees’ expenses and remuneration

Surrey and Borders Partnership NHS Foundation Trust is a related party. However, the charity also includes funds held on behalf of HCRG Care Group (formerly Virgin Care), Central Surrey Health and First Community Health & Care who are also related parties. All expenditure in the year is to benefit these four related parties.

During the year the payments of £13k (2023/24: £24k) were made to Central Surrey Health on behalf of the Charity. For HCRG Care Group (formerly Virgin Care) and First Community Health there were £0k (2023/24: £0k) payments made.

During the year the year the Trust made various payments on behalf of the Charity which were recharged. The Charity incurred expenditure of £133k (2023/24: £101k). At the year end, the Charity had a balance outstanding to the Trust of £15k (2023/24: £32k). This represents trade creditors paid by Surrey and Borders Partnership NHS Foundation Trust and recharged to Surrey and Borders Partnership NHS Foundation Trust Charity.

A donation in kind for the year 2024/25 of £80k (2023/24: £0k) was made by the Trust to the Charity. Refer to note 5 for details of the donation in kind.

The Corporate Trustee did not pay expenses to any member of the Surrey and Borders Partnership NHS Foundation Trust Board nor to any member of the Charitable Funds Management Committee and members did not receive any honoraria or emoluments from charitable funds in year.

Note 3 Income and Endowments

Donations
Donation in Kind
Grants
Legacies
Total Donations,
Grants and Legacies		 2024/25
2023/24
Unrestricted
Restricted
Endowment
Total
Unrestricted
Restricted
Endowment
Total
£’000
£’000
£’000
£’000
£’000
£’000
£’000
£’000
12
0
0
12
7
0
0
7
80
0
0
80
0
0
0
0
0
27
0
27
0
97
0
97
1
0
0
1
0
0
0
0
93
27
0
120
7
97
0
104

Refer to note 5 for the details of the donation in kind.

Dividends
Bank Interest
Total Investment
Income		 2024/25
2023/24
Unrestricted
Restricted
Endowment
Total
Unrestricted
Restricted
Endowment
Total
£’000
£’000
£’000
£’000
£’000
£’000
£’000
£’000
9
6
0
15
8
6
0
14
4
3
0
7
5
4
0
9
13
9
0
22
13
10
0
23

Page 17

Surrey and Borders Partnership NHS Foundation Trust Charity Annual report and financial statements 31 March 2025

Note 4 Expenditure on Raising Funds

Investment
Management fees
Fundraising salary
Recruitment fees
Total Expenditure on
Raising Funds		 2024/25
2023/24
Unrestricted
Restricted
Endowment
Total
Unrestricted
Restricted
Endowment
Total
£’000
£’000
£’000
£’000
£’000
£’000
£’000
£’000
3
2
0
5
3
2
0
5
42
16
0
58
0
0
0
0
0
9
0
9
0
0
0
0
45
27
0
72
3
2
0
5

In 2024/25, £0k (2023/24: £0k) of £5k investment management costs were attributable to endowment funds. The total fundraiser salary costs was £58k (2023/24: 0) of which £42k (2023/24: 0) was a donation in kind from Surrey and Borders Partnership NHS Foundation Trust.

Note 5 Analysis of staff costs and remuneration



Salaries and wages
Social security costs
Employers pension contribution
Total		 2024/2025
Total Funds
2023/2024
Total Funds
£000
£000
76
0
9
0
11
0
96
0

The Charity does not directly employ any staff. All staff working on behalf of the Charity are employed by Surrey and Borders Partnership NHS Foundation Trust, which recharges the associated costs to the Charity.

During 2024/25, the total amount charged by the Trust was £96k (2023/24: £0k). This is made up of a recharge of fundraising salary of £16k (2023/24: £0) and a donation in kind from Surrey and Borders Partnership NHS Foundation Trust covering the remaining salary costs of £80k (2023/24: £0k).

The number of whole-time equivalent (WTE) staff recharged to the Charity was 1.65 (2023/24: 0), including both fundraising and support services roles.

The 2023/24 equivalent staff costs were £41k, relating to one staff member. These amounts were not included in the prior year financial statements as staff costs and matching donation in kind; the Charity considers that this omission was not material to the financial statements in the prior year as it had a nil impact on net expenditure, and therefore has not restated the comparatives

No employees had employee benefits in excess of £60,000 (2023/24: none).

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Surrey and Borders Partnership NHS Foundation Trust Charity Annual report and financial statements 31 March 2025

Note 6 Allocation of Support Costs

The breakdown of support costs and how these were allocated between raising funds and charitable activities is shown in the table below:

2024/25
Rasing Charitable Total Total
Funds Activities 2024/2025 2023/2024
£000 £000 £000 £000
Audit fee 0 10 10 10
Salaries 0 38 38 0
Financial Administration 0 3 3 2
Total 0 51 51 12

See note (a) See note (b)

Note 7 Expenditure on Charitable Activities

The charity undertakes its charitable activities through grant making and awarded grants to several individuals and institutions in furtherance of its charitable activities.

Expenditure on Charitable Activities in 2024/25
Staff welfare and amenities
People who use our services welfare and amenities
People who use our services equipment
Other Charitable expenditure
Grant funded activity
Support costs
Auditor’s fees
Salaries
Financial Administration
Total expenditure		 Unrestricted
Funds
Restricted
Funds
Total 2024/25
£000
£000
£000
9
52
61
15
40
55
4
0
4
0
3
3
28
95
123
6
4
10
38
0
38
2
1
3
74
100
174

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Surrey and Borders Partnership NHS Foundation Trust Charity Annual report and financial statements 31 March 2025


Expenditure on Charitable Activities in 2023/24
Staff welfare and amenities
Staff training
People who use our services welfare and amenities
People who use our services equipment
Other Charitable expenditure
Grant funded activity
Support costs
Auditor’s fees
Salaries
Financial Administration
Total expenditure on charitable activities		 Unrestricted
Funds
Restricted
Funds
Total 2023/24
£000
£000
£000
17
26
43
0
10
10
8
34
42
30
0
30
0
0
0
55
70
125
6
4
10
0
0
0
1
1
2
103
75
178

In 2024/25, the expenditure on charitable activities was £123k (2023/24: £125k) of which £28k (2023/24: £55k) was expenditure from unrestricted funds and £95k (2023/24: £70k) was expenditure from restricted funds. There was an increase in staff welfare expenditure in 2024/25 compared to prior year which is due to the Recovery Grant from NHS Charities Together. The criteria for this grant were to specifically benefit staff.

Included in the support costs are the salaries for the finance staff which was a donation in kind of £38k (2023/24: £0k) from Surrey and Borders Partnership NHS Foundation Trust. Refer to note 5 for details of the donation in kind.

Note 8 Auditors remuneration

The auditor’s remuneration constituted an audit fee of £8.2k (2023/24: £8k) for the statutory audit of the financial statements plus VAT of £2k (2023/24: £2k).

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Surrey and Borders Partnership NHS Foundation Trust Charity Annual report and financial statements 31 March 2025

Note 9 Fixed Asset Investments

Note 9 Fixed Asset Investments
Market value at 1 April
Unrealised Gains/(Losses)
Realised Gains/(Losses)
Investment Income
Shares sold
Investment management costs
Cash withdrawn
Cash Invested
Acquisitions
Disposals
Market value at 31 March
Held as:
Equities
Property Investment
Alternative Assets
Fixed interest securities
Cash held within the investment portfolio
Note 10 Debtors and Prepayment
Amounts falling due within one year:
Accrued income
Prepayments
Total debtors falling due within one year		 2024/25
2023/24
£000
£000
567
536
5
13
6
23
0
0
(80)
0
(5)
(5)
(46)
(164)
130
169
52
170
(136)
(175)
493
567
324
388
18
19
41
51
104
102
6
7
493
567
2024/25
2023/24
£000
£000
4
4
14
25
18
29

Accrued income represents accrued investment income for Investec, interest from the Scottish Widows Bank deposit account for £4k (2023/24: £4k).

Prepayments represent a Wild Swim Project for CYPS for £9k, Us in a Bus regular session for Rosewood in 2025/26 for £4k.

Note 11 Creditors
Amounts falling due within one year:
Trade creditors
NHS creditors
Accruals
Total creditors falling due within one year		 2024/25
2023/24
£000
£000
13
10
13
32
2
0
28
42

Page 21

Surrey and Borders Partnership NHS Foundation Trust Charity Annual report and financial statements 31 March 2025

Trade creditors represent the audit fee for 2024/25. NHS creditors represent payments due to Surrey and Borders Partnership NHS Foundation Trust for expenditure incurred on the Charity’s behalf that has not yet been paid to the Trust. Accruals are the branding and logo work for the charity which will be invoiced for in 2025/26.

Note 12 Grant Commitments

The charity has no grant commitments.

Note 13 Analysis of net assets between funds (Charity)

Unrestricted Funds
Restricted Funds
At 31 March 2025		 2024/25
2023/24
Investments
Current
assets
Current
Liabilities
Total
Investments
Current
assets
Current
liabilities
Total
£’000
£’000
£’000
£’000
£’000
£’000
£’000
£’000
198
300
(16)
482
175
320
(6)
489
295
10
(12)
293
392
23
(36)
379
493
310
(28)
775
567
343
(42)
868

Note 14 Analysis of Charitable Funds

Permanent Endowment Funds
Locke-King (Endowment fund)
Restricted Funds1
Locke-King (Restricted fund)
Spelthorne Locality District Nurses
Harrowlands FCH&C
James Will Trust
Gibbons Will Trust
NHS Charities Together
Mindworks Surrey CYPS
Total Restricted and Endowment Funds		 2024/25
Balance
B/F
Income
Expenditure
Transfers
Balance
C/F
£’000
£’000
£’000
£’000
£’000
2
0
0
0
2
4
0
0
0
4
21
1
0
0
22
4
0
0
0
4
200
8
(31)
0
177
35
1
(3)
0
33
100
16
(81)
0
35
13
14
(11)
0
16
379
40
(126)
0
293

Page 22

Surrey and Borders Partnership NHS Foundation Trust Charity Annual report and financial statements 31 March 2025

Unrestricted Funds2
Surrey and Borders General Fund
Restricted & Designated Funds3
Wates Family Enterprise Trust
Designated Funds4
The Ellen Terry Fund
Noel Lavin Unit
Tutors Fund
Epsom League of Friends Meadows
Staff Hardship Fund
CSH General Fund
FCH&C General Fund
Others
Total Unrestricted and Designated Funds
Total		 198
17
(6)
14
223
0
1
0
0
1
5
0
(1)
0
4
27
3
(3)
0
27
17
0
0
(17)
0
8
0
(2)
0
6
2
0
(8)
15
9
199
7
(17)
0
189
5
0
0
0
5
28
4
(2)
(12)
18
489
32
(39)
0
482
868
72
(165)
0
775

1 Restricted funds are funds left for a specific purpose. 2 Unrestricted funds are funds available for general use.

3 Restricted and Designated funds are funds left for a specific service or use and cannot be used as a general funds.

4 Designated funds are funds left for a specific service or use and cannot be used as a general funds.

A transfer of £15k was made between the Surrey and Borders General Fund to the Staff Hardship Fund (2023/24: £19k). This fund was specifically set up to help staff finding themselves struggling with the cost of living rises. The following transfers were made of £3k from the SHB Psychological Therapies Fund, £17k from the Tutors Fund, £7k from the Get Moving Fund and £2k to from the Margaret Laurie House to the Surrey and Borders General Fund, total £29k, due to these funds being dormant for several years.

Endowment

Locke-King

For the purpose of the Locke-King Orthopaedic clinic.

Restricted

For the purpose of the Locke-King Orthopaedic clinic.

Locke-King For the purpose of the Locke-King Orthopaedic clinic. Spelthorne Locality District For the purpose of improving the District Nurses working environment and education. Nurses Harrowlands - FCH&C

For the restricted purpose of neuro-rehab at First Community and Health Care.

James Will Trust For the restricted purpose of recreation and entertainment for patients in the geographical areas where deceased resided.

Gibbons Will Trust For the restricted purpose of supporting staff and patients of the Older People’s Community MH Team and New Spenser Ward. NHS Charities Together For the restricted purpose of supporting staff and patients following the pandemic. Criteria set by the NHS Charities Together for the use of the funds. Mindworks CYPS For the restricted purpose of supporting staff and patients within the Epsom Area.

The Charity also has unrestricted and designated funds relating to particular wards and departments:

Surrey and Borders General Fund

For the benefit of people who use our services and staff.

Page 23

Surrey and Borders Partnership NHS Foundation Trust Charity Annual report and financial statements 31 March 2025

The Ellen Terry Fund For the benefit of people who use our services and staff. Noel Lavin Unit Purchase items for people who use our services and staff. Tutors Fund Money from American students for education purposes for consultants. Epsom League of Friends For the benefit of people who use our services and staff at The Meadows in Epsom. Staff Hardship Fund For the benefit of staff who find themselves in financial difficulty. Central Surrey Health To provide extra benefits to patients and staff of Central Surrey Health. General Fund First Community Health & To provide extra benefits to patients and staff of First Community Health and Care. Care General Fund

A transfer of £15k was made between the Surrey and Borders General Fund to the Staff Hardship Fund (2023/24: £19k. The following transfers were made of £3k from the SHB Psychological Therapies Fund, £17k from the Tutors Fund, £7k from the Get Moving Fund and £2k to from the Margaret Laurie House to the Surrey and Borders General Fund, total £29k, due to these funds being dormant for several years.

Note 15 Events after reporting period

There were no events after the reporting period.

Page 24