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2022-03-31-accounts

Registered number: 06780453 Charity number: 1127466

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Island Health Trust (A company limited by guarantee)

Trustees’ report and financial statements

For the year ended 31 March 2022

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Island Health Trust

(A company limited by guarantee)

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Contents

Page Reference and administrative details of the company, its Trustees and advisers 1 Trustees' report 2-5 Trustees’ responsibilities statement 6 Independent auditors' report on the financial statements 7-9 Statement of financial activities 10 Balance sheet il Notes to the financial statements 12-19

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Island Health Trust

(A company limited by guarantee)

et

Reference and administrative details of the company, its Trustees and advisers For the year ended 31 March 2022

Trustees MavisWenham
Jocelyn Braun, Trustee
Elaine Bagshaw, Trustee
Candida Ronald
Dr Shera Chok
Company registered number 06780453
Charity registered number 1127466
Registered office Thames House
Roman Square
Sittingbourne
Kent
MEI0 4BJ
Companysecretary JamesBrown
Independentauditors McCabeFordWilliams
Chartered Accountants
Statutory Auditors
Bank Chambers
1 Central Avenue
Sittingbourne
ME10 4AE
Bankers CAFBankLimited
PO Box 289
WestMalling
ME194TA
Solicitors Winckworth SherwoodLLP
Minerva House
5Montague Cl ,
London
SE19DF

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Island Health Trust (A Company Limited by Guarantee)

Trustees' Report

For the Year Ended 31 March 2022

The trustees present their annual report together with the audited financial statements of Island Health Trust for the year 1 April 2021 to 31 March 2022.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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) (effective 1 January 2019).

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

This Trustees’ Report provides an overview of the charity’s activities, developments, achievements, and financial performance for the year to 31 March 2022 as well as plans for the future. It also sets out the historical context of the organisation. The report from the auditors, together with financial statements for the year follows.

Structure, governance, management, and charitable status

Island Health Trust is a company limited by guarantee and a registered charity. It is governed by its Memorandum and Articles of Association dated 18 December 2008. It was first set up as an unincorporated entity and registered charity called the Island Health Charitable Trust, formed under a declaration of Trust dated 12 February 1992.

Island Health Trust was incorporated on 28 December 2008 and on 1 April 2009 the unincorporated Island Health Charitable Trust transferred all its assets to IMT, and IHT agreed to take on all the liabilities of the trustees of the Island Health Charitable Trust. The assets included the freehold and under leasehold interests in the property known as Island Health Centre, 145 East Ferry Road, London E14 3AY. The freehold is subject to a peppercorn lease granted to Asda Stores which expires in 2107.

Purpose and aims - who we are and what we exist to do?

Island Health Trust’s (IHT) objects are focused on improvement of the health of both the population of the London Borough of Tower Hamlets and Newham by actively promoting the provision of primary health care including promoting the medical well-being of residents and visitors in the beneficial areas of Tower Hamlets and Newham. The Directors shall not apply any part of the Charity’s funds directly in relief of public funds but may assist in supplementing public funds.

Appointment of Trustees

New Trustees are appointed by existing Trustees having regard to the mix of skills and relevant experiences that the Board may benefit from. Prospective Trustees are invited to meet fellow Trustees and, if appointed, they go through an onboarding process where they are provided with comprehensive information that includes all the legal and regulatory responsibilities of the Charity and the Trust, the operations, and the projects. This naturally also includes providing a comprehensive onboarding with directors receiving an induction pack in line with Charity Commission guidance, to get acquainted with the aims of the charity and the responsibilities that the Trusteeship involves.

Control and Reporting

Regular board meetings are conducted to keep the Trustees abreast of the outstanding performance of the Charity and the Trust, from strategic, operational, financial, and charitable activities. In between meetings, Trustees are kept informed by the COO and are engaged as and when necessary. All Trustees give of their time freely and without remuneration.

The Island Health Centre — The Trust’s key asset and source of income

IHT’s main asset, as can be seen in the balance sheet, represents ownership of a health Centre at Crossharbour on the Isle of Dogs. In 202021, the first floor of this Health Centre houses GPs and Dentists who in tum provide a range of health and well-being services to the local population on the Isle of Dogs. The second floor, on the other hand, remained unoccupied for an extended period, despite numerous expressions of interest from potential lessees, aggravated by the issues around COVID-19. Thus, as can be seen in the Profit and Loss statement, income is lower than what the Trust might have wished it could be. The Trustees also now see the need to rethink new use cases for the facility as the problem of COVID-19 has prompted companies and practitioners to rethink their office and facility use, what with increasing work-from-home schemes.

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| (A Company Limited by Guarantee) | Trustees' Report

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Island Health Trust

For the Year Ended 31 March 2022

What we did in 2021/22

a, Regulatory Charity Commission Investigation: As reported last year, following the Charity Commission’s decision to discharge the Interim Managers (IMs) on the 23" of March 2020, the trustees have reviewed possible next steps. The Charity Commission has acknowledged that the Trust has completed all the required remedial actions. However, the Statutory Inquiry remains open whilst the Charity Commission continues with its investigation and is considering whether any regulatory action against former Trustees is required before the inquiry can be closed. The Trustees continue pursuing regular updates from the Charity Commission and have been assured that the Commission will provide further updates as soon as they are in a position to do so.

b. Financial performance i Resultfor the Year. The charity’s financial results for the year ended 31 March 2022 are presented in the Statement of Financial Activities (SoF accounts. A) ofthese Whilst the SoFA reports a surplus for the year of £218,272, this does include £165,000 exceptional ‘other income’, and therefore the underlying surplus is much lower at £53,272. Excluding the other income, core income from charitable activities — rental income — was broadly similar to the prior year. The £165,000 other income is a credit received against historic costs incurred. The underlying performance has been improved by continual stabilisation of costs, together with the reduction of legal cost support and other third-party support. ; Overall Administrative Cost Management. The Board’s prudent cost management and oversight continues. Total administrative costs were reduced dramatically from £253,167 in 2018-19 financial year to £172,216 in 2019-20 and remained in line with expectations in 2020-21 (£175,101). For 2021-22 administrative costs have fallen to £121,527 driven by a prudent reduction in executive service fees and a significant reduction in legal fee expenditure. Consulting and other non-legal professional fees. These cost items have been completely avoided for the last 2 years, leading to : a savings of £37,008 from 2018-19 figures, The Trust continues to ensure that we are being prudent in this area and continue to avoid incurring avoidable costs accordingly. Rental costs. The Board has made the decision to use its own vacant facilities to conduct physical meetings when necessary and allowed during the COVID-19 times or have shifted to online meetings to avoid unnecessary expenses. Legal fees. The trustees have continued to fully engage with the Charity Commission’s Statutory Inquiry but do not expect to incur : further legal fees in line with this continuing process. However, it is anticipated that the Trust could receive further instruction from the Charity Commission which may incur some legal costs in the future.

Grants. During 2021-22 the Trust was able to partner with an extensive community-based health project, using some space on the first floor of the Health Centre as the base of operations. We re-formalised our budget for offering grants to support complementary meds to support the provision of complementary therapies offered by the practice team to its patients. Sessions to patients are offered through GP referrals of free osteopathy, massage, and acupuncture sessions to be provided throughout the year. We are in advanced discussions with the Healthy Island Partnership to support the great work they are doing.

Revenues. The Board continued to explore options to enhance its revenues from its main asset, the Health Centre building and expects to double the rental income at the start of 2023 on completion of a new lease that covers the first floor.

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iit Balance Sheet

The net asset and fund position showed healthy growth on 31 March 2022 at £3,890,918, an increase of £218,272. This is largely a result of service-related credits and prudent cost management as discussed in the previous section.

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Fixed Asset. The value of Total Fixed Assets is slightly down due to the depreciation of office and computer equipment only. The main investment property asset value is unchanged.

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Island Health Trust (A Company Limited by Guarantee) (Re

Trustees' Report For the Year Ended 31 March 2022

Cash position. Cash balances at the end of the year remain healthy and have grown from £693,993 last year to £940,106.

Designated Funds. The charity holds a designated ‘fabric’ fund, as explained in note 15 to the financial statements, which represents funds set aside to meet the costs of improvement to the Health Centre. This fund remains unchanged at £95,838.

Reserves. The trustees recognise the need to manage and mitigate its key risk of revenue shortfall and put in place a reserves policy to ensure that sufficient free reserves are available to offset its main risk, which is losing tenants of the Health Centre without adequate notice. The charity, therefore, maintains free reserves equal to at least one year’s annual income. This would give sufficient time to find replacement tenants. As of 31 March 2022, the charity’s free reserves (being total funds less designated funds and less the net book value of fixed assets) amounted to £952,580 (2021: £734,188), the increase arising from the surplus for the year plus the | reduction in the carried value of tangible fixed assets. The Trustees are mindful that the proposed redevelopment of the Asda site | could impact the charity and therefore it is prudent to have a larger reserve during this period.

c. A strategic approach to new challenges The Trust continues to be active in discussions to explore ways to improve and broaden the range of its activities, making sure it is relevant, impactful, and aligned with the objects. This includes looking at options for social prescribing interventions and/or education offerings for local people and service providers. The discussions with several stakeholders to explore possibilities of using some of the space towards supporting health and general well-being for people who live in Tower Hamlets and Newham have progressed and we are actively working with the Healthy Island Partnership and are at advanced stages of finalising a Grant agreement for 2023...

What we plan to do in 2022/23 As a result of prudent cost management, the Charity remains in a strong cash position for the following year. This will enable the Trustees to explore other options following the ‘new normal in health centre use as part of its strategic challenge. The plan involves expanding its activities to include Newham as its beneficiary even if the health centre is in Tower Hamlets. a. Grants Our grants programme will remain under review, but we shall ensure we are able to continue supporting our target beneficiaries in Tower Hamlets and Newham. We will continue to explore use cases for the available space that can support charitable activities. We shall continue to build upon the hard work and great progress we have made with the Healthy Island Partnership Community project team.

Using the building reserves designated fund for the health centre, the Trust is exploring building upgrades and modernization. The Charity will continue to improve the property and explore use cases that align with the Trust’s charitable mission.

c. Managing Costs and enhancing income THT is focused fully on proactively managing the costs and performance of suppliers and partners, ensuring that the Charity gets value for money. Although significant reductions in operating costs have already been achieved since 2018-19, the Trust will continue to be managed very carefully throughout 2022/23 and explore its options around the ‘new normal for its use of space. Risk Assessment As previously discussed, the trustees have set up their reserves policy to mitigate liquidity risk, which is the risk of not having sufficient funds to cover its costs due to loss of rental income. We are happy to report that the trustees’ assessment of this liquidity risk is low. Due to the nature of its operation, the risk of fraud at IHT is very low; all financial activities are manageable, with the organisation’s size being small and its complexity, very low.

Disclosure of Information to Auditors

The trustees confirm their approval of this report and confirm that, so far as they are individually aware, there is no relevant audit information of which the charity's auditors are unaware; and each trustee has taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

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Island Health Trust

(A Company Limited by Guarantee)

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Trustees’ Report For the Year Ended 31 March 2022

Signed on behalf of the Board of Trustees by:

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Elaine Bagshaw Trustee Date: 30/01/2023

Jocelyn Braun Trustee 30/01/2023

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Island Health Trust

(A company limited by guarantee)

Statement of trustees’ responsibilities For the year ended 31 March 2022

The trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees! report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

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Elaine Bagshaw Jocelyn Braun
Trustee Trustee
Date: 30/01/2023 30/01/2023
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Island Health Trust

(A company limited by guarantee)

Independent auditors' report to the Members of Island Health Trust

Opinion

We have audited the financial statements of Island Health Trust (the ‘charitable company’) for the year ended 31 March 2022 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, 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).

Tn 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 under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 trustees’ 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 charitable 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 trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors’ 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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Island Health Trust

(A company limited by guarantee)

ee Independent auditors’ report to the Members of Island Health Trust (continued)

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion: ,

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 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 Auditors’ 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. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable ofdetecting irregularities, includingfraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

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Island Health Trust

(A company limited by guarantee)

Independent auditors' report to the Members of Island Health Trust (continued)

. considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

To address the risk of fraud through management bias and override of controls, we:

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. performed analytical procedures to identify any unusual or unexpected relationships; . tested journal entries to identify unusual transactions; * assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

. investigated the rationale behind significant or unusual transactions.

Audit response to risks identified:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed those laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.

Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.fre.org.uk/auditorsresponsibilities. This description forms part of our Auditors! 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Clair Rayner FCA DChA (Senior statutory auditor)

for and on behalf of

McCabe Ford Williams Chartered Accountants Statutory Auditors Bank Chambers 1 Central Avenue Sittingbourne ME10 4AE

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Island Health Trust

(A company limited by guarantee)

Statement of financial activities (Incorporating income and expenditure account) For the year ended 31 March 2022

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||||||| |---|---|---|---|---|---| |Unrestricted|Total|Total| |funds|funds|funds| |2022|2022|2021| |Note|£|£|£| |Income|from:| |Charitable|activities|3|177,205|177,205|179,093| |Investments|4|144|144|381| |Other|income|5|165,000|165,000|-| |Total income|342,349|342,349|179,474| |Expenditure|on:| |Charitable|activities:|7| |Grants|payable|2,550|2,550|760| |Support|costs|121,527|121,527|175,701| |Total|expenditure|124,077|124,077|176,461| |Net movement in funds|218,272|218,272|3,013| |Reconciliation|of funds:| |Total|funds brought|forward|3,672,646|3,672,646|3,669,633| |Net movement|in|funds|218,272|218,272|3,013| |Total funds carried forward|15|3,890,918|3,890,918|3,672,646|

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The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 12 to 19 form part of these financial statements.

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Island Health Trust

(A company limited by guarantee) Registered number: 06780453

Balance sheet As at 31 March 2022

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2022 2021
Note £ £
Fixed assets
Tangible assets 1 - 120
Investment property 12 2,842,500 2,842,500
2,842,500 2,842,620
Current assets
Debtors 13 331,037 263,454
Cash at bank and in hand 940,106 693,993
1,271,143 957,447
Creditors: amounts falling due within one year 14 (222,725) (127,421)
Net current assets 1,048,418 830,026
Total net assets 3,890,918 3,672,646
Charity funds
Restricted funds 15 - -
Unrestricted funds 15 3,890,918 3,672,646
Total funds 3,890,918 3,672,646
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The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:

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Elaine Bagshaw Jocelyn Braun
Trustee Trustee
Date: 30/01/2023 30/01/2023
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The notes on pages 12 to 19 form part of these financial statements.

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| (A company limited by guarantee)

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Island Health Trust

Notes to the financial statements

For the year ended 31 March 2022

  1. General information

Island Health Trust is a charitable company limited by guarantee, registered in England and Wales. Its registered office is Thames House, Roman Square, Sittingbourne, Kent, ME10 4BJ. The members of the company are the trustees named on page |.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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), and the Companies Act 2006.

Island Health Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Income

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

2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

: 2.4 Tangible fixed assets and depreciation Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. ! Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An | impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

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Depreciation is provided on the following basis:

Office equipment - 25% Computer equipment - 33%

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Island Health Trust

(A company limited by guarantee)

SSS Notes to the financial statements For the year ended 31 March 2022

2. Accounting policies (continued)

2.5 Investments

The investment property is included at fair value. Gains are recognised in the Statement of Financial Activities.

2.6 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.7 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 company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

3. Income from charitable activities

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Unrestricted Total Total
funds funds funds
2022 2022 2021
Rental income 177,205 177,205 179,093
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4, Investment income

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Unrestricted Total Total
funds funds funds
2022 2022 2021
£ £ £
Bank interest 144 144 381
Other incoming incoming resources
Unrestricted Total Total
funds funds funds
2022 2022 2021
£ £ £
Other 165,000 165,000 -
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  1. Other incoming incoming resources

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(A company limited by guarantee)

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Island Health Trust

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Notes to the financial statements For the year ended 31 March 2022 eee

6. Analysis of grants

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Grants to Total Total
Institutions funds funds
2022 2022 2021
£ £ £
Grants payable 2,550 2,550 760
Total 2021 760 760
The company has made the following material grants to institutions during the year:
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2022 2021 £ £ Name of institution Island Health Practice 2,550 760

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||||||| |---|---|---|---|---|---| |7,|Analysis|of expenditure|on|charitable|activities| |Summary by fund type| |Unrestricted| |funds|Total|Total| |2022|2022|2021| |£|£|£| |Promote the provision of|primary health care|124,077|124,077|176,461|

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Island Health Trust

(A company limited by guarantee)

—_reish

Notes to the financial statements For the year ended 31 March 2022

8. Analysis of expenditure by activities

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|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |Grant funding|Total|Total| |of activities|Support|costs|funds|funds| |2022|2022|2022|2021| |£|£|£|£| |Promote|the provision of|primary health care|2,550|121,527|124,077|176,461| |Total 2021|760|175,701|176,461| |Analysis|of support costs| |Total|Total| |funds|funds| |2022|2021| |£|£| |Executive|services|28,420|34,068| |Professional|fees|13,278|21,284| |Public|sector|and|Charity|Commission engagement|5,238|43,911| |Service|charges|64,388|64,451| |Audit|fees|5,000|3,700| |Insurance|4,000|4,952| |IT|equipment and|support|950|950| |Sundry|133|839| |Depreciation|120|1,546| |121,527|175,701| |9,|Auditors'|remuneration| |2022|2021| |£|£| |Fees payable|to|the|company's|auditor|for the|audit|of the|company's|annual|accounts|5,000|4,000|

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  1. Trustees' remuneration and expenses During the year, no trustees received any remuneration or other benefits (202/ - £NIL).

During the year ended 31 March 2022, no trustee expenses have been incurred (202/ - £NIL).

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Island Health Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2022

a 11. Tangible fixed assets

Office
equipment
£		 Computer
equipment
£		 Total
£
Cost or valuation
At 1 April2021 481 5,175 5,656
At31 March 2022 481 5,175 5,656
Depreciation
At 1 April2021 361 5,175 5,536
Charge fortheyear 120 - 120
At31 March2022 481 5,175 5,656
Netbookvalue
At31 March2022 - . .
At31 March 2021 120 - 120
12. ‘Investmentproperty
Freehold
investment
property
Valuation
At ] April2021		 2,842,500
At31March2022 2,842,500

,

The trust owns the freehold of land on which the Health Centre is sited and the adjoining land extending to the East Ferry Road. This freehold, however, is subject to a lease to ASDA stores expiring on 15 July 2107. In turn ASDA sub-lease back to the trust that part of the land on which the buildings and car park are sited. This sub-lease expires on 14 July 2107. The trustees have concluded that it is appropriate to include the carrying value of the investment property at £2.84m based on the most recent formal valuation received (January 2021). The trustees believe that this is the best current use estimate of the market value as at 31 March 2022. The historical cost of the investment property is £717,680. As IHT intends to rebuild the health centre in the next five to eight years, a new valuation of the land was obtained to inform the potential for development. As expected, the valuation of the land is significantly higher than the value of the current Health Centre building. However, the lease arrangement with ASDA will need to be considered and will considerably reduce the remaining value to IMT. IHT will continue to report transparently and openly on the progression of any new Health Centre building proposals.

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Island Health Trust

(A company limited by guarantee)

Notes to the financial statements

For the year ended 31 March 2022

13. Debtors

2022 2021
Trade debtors - 45,675
Other debtors 327,837 217,779
Prepayments and accrued income 3,200 -
eee
331,037		 263,454
ce

14, Creditors: Amounts falling due within one year

2022 2021
£ £
Trade creditors 17,908 -
Othertaxationand social security 15,914 787
Accruals and deferred income 188,903 126,634
222,725 127,421

Included above is deferred rental income of £38,063 (2021 - £38,063).

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Island Health Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2022

15. Statement of funds

Statement of funds - current year

----- Start of picture text -----
Balance at 1 Balance at 31
April 2021 Income Expenditure March 2022
£ £ £ £
Unrestricted funds
Designated funds
Designated Funds - all funds 95,838 - - 95,838
General funds
Accumulated general fund 1,451,988 342,349 (124,077) 1,670,260
Revaluation reserve 2,124,820 - - 2,124,820
3,576,808 342,349 (124,077) 3,795,080
Total Unrestricted funds 3,672,646 342,349 (124,077) 3,890,918
The trustees set aside a sum as a designated ‘fabric fund’ in order to meet the costs of improvements to the Health Centre.
The revaluation reserve relates to the increase in fair value of the investment property.
Statement of funds - prior year
Balance at Balance at
I April 2020 Income Expenditure 31 March 2021
£ £ £ £
Unrestricted funds
Designated funds
Fabric fund 95,838 - - 95,838
General funds
Accumulated general fund 1,448,975 179,474 (176,461) 1,451,988
Revaluation reserve 2,124,820 - - 2,124,820
3,573,795 179,474 (176,461) 3,576,808
Total Unrestricted funds 3,669,633 179,474 (176,461) 3,672,646
----- End of picture text -----

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Island Health Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2022

16. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds		 Total
funds
2022 2022
£ £
Investmentproperty 2,842,500 2,842,500
Current assets 1,271,143 1,271,143
Creditorsduewithinoneyear (222,725) (222,725)
Total 3,890,918 3,890,918
Analysis ofnet assets between funds -prioryear
Unrestricted
funds		 Total
funds
2021 2021
£ £
Tangible fixedassets 120 120
Investmentproperty 2,842,500 2,842,500
Current assets 957,447 957,447
Creditors duewithinoneyear (127,421) (127,421)
Total 3,672,646 3,672,646

17. Members liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member.

18. Related party transactions

During the year the Trust's Chief Operating Officer provided services to the charity through the following intermediate company:

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2022 2021
£ £
Alternative Leaders Ltd(UKcompany no. 11658933) 28,420 34,068
28,420 34,068
S——C—C—C—aC—o——S—- ————————

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