COMPANY REGISTRATION NUMBER: 06828950 CHARITY REGISTRATION NUMBER: 1129677 FRIENDS OF QUEEN MARY'S SIDCUP LIMITED Company Limited by Guarantee UNAUDITED FINANCIAL STATEMENTS 31 DECEMBER 2024 ILL EY LP Reporting Accountants Numeric House 98 Staiion Road Sidcup Kent DA15 7BY
FRIENDS OF QUEEN MARY'S SIDCUP LIMrrED COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 Pages Trustees, annual report (incorporating the directors, Trport) 1105 Independent examlnefs report to Ihr trustc¢s Statement of financial activities (including income and expenditure account) 6t07 Statement of financial position 9tolO Notes to the financial statements Ilto18
11 FRIENDS OF QUEEN MARYIS SIDCUP LIMITED COMPAIYY LIMITED BY GUARANTEE TRUSTEES, ANIW4UAL REPORT ONCORPORATINC THE DIRECTORSI RF.PORT) YEAR ENDED 31 DECEMBER 2024 The tntstees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2024. Referenee and administrative details Friends of Queen Matys Sidrup Limited Registered charity name Charity registration number 1129677 Company registration number 06828950 Principrdl office and registered office 98 Station Road Sidcup Kent DA15 7BY United Kingdom The trustees P B Woodman S Groombridge C Elms D Denni5 P E Davidson E Rusbden Company secretary S Groombridge Independent examiner Opass Billings Wilson & Honey LLP Numeric House 98 Station Road Sidcup Kent DA15 7BY
FRIENDS OF QUEEN MARY'S SIDCUP LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT ONCORPOIiATINC THE. t)IRFcfoRSI REPORT) (Co1ned) YEAR ENDED 31 DECEMBER 2024 Struetureg governance and management Constitution Friends of Queen Matys Sidcup Limited is a non-governrn¢ntal, non-political, non-religious organisation. The Charity was incorpoiated on 24 February 2009 und¢r a Memordndum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Trustee5 and Management The Trustees of the Chlty are set out on page l of the Financial Statements. Trustees of the Charity are invited to join based on their professional and separate specific dedicated skills. The appointment is made by existing Charity Trustees. New trustees are invited to attend a trdining session which covers the obligations of the Members of the Organisation, the operational framework for the Organisation and present and fvture plan5 and objectives. The Trustees appoint two c(H)Idinators who are responsible for the smooth nllming of the hospitsl shops. The co-ordinators are required to be familiar with all aspects of Health & Safety at Work and Food and Hygiene Legislation. Operational Structure The charity is based at Queen Matys Hospital, Sidcup, KenL and through its trdding subsidiary, Friends Shops Limited, manages two retail outlets: a café and a refreshment kiosk. A trolley service to the ward5 was also maintained. During the pandemic, in line with hospitsl restrictions, these services were closed. The café re- opened on 17 August 2021. and the new kiosk opened in 2024 in a more convenient area of the hospital for palients and relatives attending outpatient4 after being delayed from 2023. The café opens from 7 am to 4 pm on weekdays. providing a comprehensive servirx to patients, relatives. and staff. A reduced service is offered at weekends for the Minor Injuries Unit. Approximately 34 volunteers provide the service, working on a managed rota system and swised by two employed coordinators. A Pricing Policy sulFcommittee is responsible for ensuring fair but realistic pricing for over 600 stock items. Accounting Controls The Charity has implemented a framework of accounting records and internal controls for managing income, expenditure, assets. and liabilities. A report is provided monthly at a Trustees, meeting, and financial inforniation is passed to the Treasurer, who prepares Financial Statements and an overview for the Trustees.
FRIENDS OF QUEEN MARY'S SIDCUP LIMITED COMPANY LIMITED BY GUARAEE TRUSTEES, ANNUAL REPORT ONCOIiP()RATING THE DIREoRs, REPORT) feonthued) YEAR ENDED 31 DECEMBER 2024 Objectives and activities The charitys objective is to relieve patients and fornier patients of Queen Marfs Hospital, Sidcup, who are SICK convalescenL disablel infmn, or otherwise in Deed. It supports the charitable work of the hospital and acts as a successor to the League of Friends of Queen Mary's Hospital, Sidcup. Additionally, the charity assists in providing amenliies for pati¢nts and staff at thc hospital, including rumiing shops within the hospital. The charity, through its trading subsidiary, Friends Shops Limited, operates two outlets on the hospitsl site: a cafe and a kiosk. These outlets were closed during the pandemic. The café re-opened in August 2021, and the kiosk re-opened in 2024 following building works. Th&se outlets provide a purposeful activity for local volunteers, ¢nabling them to take part in a community project that generates tangible fmancial benefits. Trading surpluses are passed to the charitable parenL which applies the fijnds for charitable purposes. including grants requested by the hospital. The hospital is now part of the Oxleas NHS Foundation Trus¢ which has undertaken a significant Capital redevelopment project that is still ongoing. In setting objectives and planning activities. the Trustees have complied with their duty under Section 4 of th¢ Charities Act 2006 to have due regard to the Charity Commission's guidance on public ben¢fiL Achievements And performanee In 2024. the charity donated £203 worth of sweets to the blood department at Queen Matys Hospital. Financial revi¢w The charity maintains sufficient unrestricted reserves to cover its liabilities and grant ¢ommilments. As of 31 December 2024. unrestricted reserves amounted to £555,893. Plans for future periods The charity will continue to support (Cen Matys Hospita] in the future, particularly regarding th¢ purchase of new equipment and services required by the hospital. Investment policy All funds are held in G&8h d¢posits or interest-¢arnin8 accounts. A review of the charitys accounts 15 currently being undertaken to maxilSe iDtcrest r¢ceived on savings.
FRIENDS OF QUEEN MARY'S SIDCUP LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEESI ANNUAL REPORT (INCORPORATINC THF. DIREoRs, REPORT) leonginH¢d) YEAR ENDED 31 DECEMBER 2024 Plans for future periods (eonlimuedj Risk management The Trustees regularly review the major risks facing the charity. Health & Safety at Work Act: All new volunieers reccivc a volunteer infornlation pack and undergo training. Emphasis is placed on Health & Safety procedures, risk in the workplace risks, and lifting and handling. Every volunteer is in possession of a comprehensive Health & Safety handbookand volunteers sign and return an acknowledgement after completing training. Food Safety. Regulation Aet 1995: Food hygiene and environmental health are closely monitored. Housekeeping in each outlet is maintained to a high standard and regularly inspected. The temperature of chilled food delivered daily is checked for compliance, and the data is recorded. Cool cabinets and refrigerators are maintained at temperatures set by the Food Safety and Hygiene Regulations. The charity maintains a comprehensive system of accounting ond Internal controls. While recognising some challenges with operating tills due to the age of some volunteers, the overall structure is believed to be as cohesive and robust as possible to minirnise financial risks. Card readers were introduced in 2021, which has reduced cash handling. Grants policy A representative of Queen Marys Hospi] Prents applirntions for grants at rnonthly tntstee meetings. The Trustees then vote on whether to approve the grant award. Meeting Trustee meetings are held monthly. The hospital representstive presents monetary requests for both medical facilities and equipment for patients and staff. particularly for items not available through Exchequer funds. Urgent life-saving equipment is prioritised. The Honorary Secretary reports on donations and bequests. manages correspondence. and records Tequests in the Committee Meeting minutes. The Honorary Treasurer provides a financial statement and indicates available funds for distribution. Small company provisions This report has been prepared in accordance with the provisions applicable to cornpanies entitled to the small companies exemption.
11 FRIENDS OV QUEEN MARY'S SIDCUP LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT {INCORPOIUTINC THF. DIREoRs, REPORTI Ceonllnued) YEAR ENDED 31 DECEMBER 2024 If-oq-2r The trustees. annual report (incorporating the directors, report) was approved on ............. on behalf of the board of trustees by: . and signed E Rushden Trustee
FRIENDS OF QUEEN MARY'S SIDCUP LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDkfiT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF QUEEN MARY'S SIDCUP LIMITED YEAR ENDED 31 DECEMBER 2024 I report to the trustees on my examination of the financial statements of Friends of Queen Mary's Sidcup Limited ('the charity) for the year ended 31 December 2024. Responsibilities and basis of repnrt As the charity trustees of the Trust you are reswnsible for the pr¢pardtion of the coUnts in accordance with the reqiiirements of th¢ Charili¢s Act 2011 ('the Act.) It is our r¢sponsibility to: cxamine the accounts under section 145 of thc 2011 Act" to follow ihe Procedutrs laid down in the gcncrnl Directions given by the Charity c.ommission under 5CCtion 145(5)(b) of the 201 l Act. and to state whether particular matters have come to my attention. We report in respect of our examinatinn of the T1,$ accounts carried out under section 145 of the 201 I ALI ¢ind in carrying out my examination we have followed all the applicable directions given by the Charity Commission under section 145(5Xb) of the Act. Independent examiner's stxtement I Iiav¢ completed my examination. I confirni that no matters have corne to my attention in connection with the examination giving me cause to belicv¥- accounting records were not kcpt in respect of the charity as required by section 386 of the 2006 Act. or the financial statements do not accord with those records" or the financial statements do not comply with the accountmg requiremenrs of seciion 396 uf il1¢ 2006 Act other than any requirement thai The dLouwits give a 'tru¢ and fai¢ view which is not a matter considered a5 part of an independent examination. or thc fintsncial Statements have not been prepared in Accnrd2nce with the methods and principles of the Statement ol Recomm¢nded Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial R¢porting Stsndard applicable in the UK and Republic of Ireland (FRS 102).
FRIENDS OF QUEEN MARY'S SIDCUP LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTF.F.s nF FRIENDS OF QUEEN MARY'S SIDCUP LIMITED (eontinued) YEAR ENDED 31 DECEMBER 2024 I have no concerns and have come across no other matter5 in connection wtth the examination to which attention should be drawn in this report in order to enable a propel undersLffiding of the accounts to be reached. *1 + Pf• l¥-Oq-2S Opass Billings Wilson & Honey LLP Independent Examiner Numeric House 98 Station Road Sidcup Kent DA15 7BY
FRIENDS OF QUEEN MARY'S SIDCUP LIMrrED COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUIYT) YEAR ENDED 31 DECEMBER 2024 2024 Unrestricted funds Total funds 2023 Total funds Note Income and endowments Donations and legacies Other Investment income 74,1152 4,733 79,585 74,852 4,733 47,141 3.229 Tolal income 79,585 50,370 Expenditure Expenditure on charitable activities Tot21 expenditure 5.752 5,752 18.110 5.752 5.752 18.110 Iyet ineome and net movement in funds 73,833 73,833 32,260 Reconciliation of funds Total funds brought forward Total funds carried forward 482.060 482,060 555,893 449.800 555,893 482,060 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from ¢ontiDuing activities. The notes on pages I l ¢0 18 fonn part of Ibe5e financial statements.
FRIENDS OF QUEEN MARY'S SIDCUP LIMITED COMPANY LIMITED BY GUARANTEE ST ATEMENT OF VINANCIAL posrrioN 31 DECEMBER 2024 2024 2023 Nots FIXED ASSETS Tangible fixed assets Investments 14 15 7.517 1,000 10,023 1,000 8.517 11,023 CURRENT ASSETS Debtors Cash at bank and in hand 17 121.188 428J99 549587 75, 797 405,294 481,091 CREDITORS: amounts falling due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS 18 2,211 10.054 547 J76 471.037 555,893 482,060 555,893 482,060 FUNDS OF THE CHARITY Unrestricted funds 555,893 482, 060 Tot21 charity funds 19 555093 482.060 For the year ending 31 December 2024 the charity was ¢ntitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtsin an audit of its financial ststements for the year in question in accordance with section 476; The directors acknowledge their responsibilities for cornplying with the requirements of the Act with respect to accounting records and the preparntiOD of financial statements. Thesc financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies. regime. The statement of financial posttion continues on the following page. The notes on pages 11 to 18 form part of these flnanclal 51atemellts.
FRIENDS OF QUEEN MARY'S SIDCUP LIMITED COMPANY LIMITED BY GUARANfEE STATEMENT OF fiNANCIAL POSITION 31 DECEMBER 2024 These fmancial statements were approved by the board of trustees and authorised for issu¢ on l ¥-o ¢1 - and are signed on behalf of the board by: E Rushden Company Registration Number: 06828950 The Dotes on pages I I to 18 form part of these financlal ststcments.
FRIENDS OF QUEEN MARY'S SIDCUP LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 General informalion The chi1[Y is a public bcn¢fit cntity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. Th¢ address of the registered office is 98 Station Road, Sidcup, Kenl. DAI 5 7BY. United Kingdom. ststement of compliance These financial statements have been prepared in compliance widi FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Praciice applicable to charities preparing their accounts in accordance with the Fiiiancial Reportlng Standard applicable in the UK and Republil ur Ireland (FRS 102} (Chariti¢s SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial staiemenL% have been prepad on the historical cost basis, as modified by thc ievaluation of certain financial assets and liabilities and invesDnent propertie5 measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency uftlie entity. Going ¢onecrn There are no material uneertainties about the charitYs ability to continue. Diselosure exemptions The entity satisfies the criteria of being a qualifying eniiry as defmed in FRS 102. Its financial 3tatcm¢nts are consolidated into the fmancial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been ken of the folluwiiig disrlosur¢ ¢xemptions available under paragraph 1.12 uf FRS 102. (a) No cash flow statern¢ni bc¢n prc5¢nt¢d for the company. (b) Disclosures in respect of financiAI instrllments have not been presented. Consolid*tlon The charity is not required to prepare consolidaied accowits in accorddnLe with the Chariti¢s Act 201 I, tuid has taken advaniage uf ihr optioii not to pare ¢ong01idated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the chariry and ILS subsidiary uiid¢rtaking5 comprisc a small group. JudEeiiicnts and ky sourc¢J of cstimatlOD uneertainty There are no significant estimates or assumptions made have significant risk of causing a material adjijstment to the canying amounts of &ssets and liabilities wrthin the nexf financlal year. li
FRIENDS OF QUEEN MARY'S SIDCUP LIMITED LUMPANY LIMITED BY GUARANTEE OTES TO THE FINANCIAL STATEMENTS (co11) YEAR ENDED 31 DECEMBER 2024 Accounting policies {cOle) Fund accounting Funds held by the Charity are: Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trusiees. Incoming resource5 All inLOIllC is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefi a55VLiai¢d with thc transaction will flow to the charity and the Iiiivunt ran bc reliably measured. The followlng specific p()licies are applied to particular cat¢gories of income-. Income from dnnations or grants 15 recognis¢d when there is evidence of entitlement to the gift. receipt is probabl¢ and its amount can be measured reliably. Investment income on funds held on deposit is recognised when notification received from the bank confirniing the int¢rest b¢ing paid or becoming payable . Resour¢es expended Expenditure is recognised nn an accnmls basi5 as a liability is incurred. Expenditure includes any VAT which iiUUiOt b¢ fully recovered, and is classified under headings nf the statement of financial activities to which it relates: Expenditure on raising fimds includes the costs ot all fimdraising aciivlties, event5 4uid iion*haritabl¢ trading activities. Grants payable are payments made for Queen Mary's Hospital Sidcup in the furtherance of the objects of the charity. An application request for a grant will be made which will thcn b¥ Lon5idered by th¢ committee and, if approved, the applicdnl will thcn be notifi¢d that th¢ fLmds are available. These grants are not always taken up by the applicant and therefore provision is only made in the accounts wh¢n the grant is actually paid. A summary of ihe ours(andin¥ grant ¢ommitm¢nts which have not been accrued for is providcd in not¢ 10 to the COUnts. Tv4ngible thssets Tangible assets are initially recorded at C05L and subsequently staled ai cosr less any LU1Ulat¢d dcprecialion and impainnent losses. Any ngIbIC ets carried at revalu¢d amounts are recorded at the fair value at the dat¢ of Tevaluation less any subsequent accumulated depreciaiion and subsequenl ilLcuiiiulat¢d impatrn]ent losses. 12-
FRIENDS OF QUEEN MARY'S SIDCUP LIMITED CUMPAtNY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS fcon¢iAue4J YEAR EIYDED 31 DECEMBER 2024 Aceounling policies (eoniinued) TaDglble a55ets' (comlnucd) An increase in th¢ carying amount of an asset &s a result of a revaluation, is recognised in other r¢¢ognised gains and losses, unless it reverses a charge for impairnient that has previously been recognised as expenditure within the statement of financial activities. A d¢creas¢ in the carying amount of an asset as a result of rcvaluation, is recognised in other recognised gains and losses. except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and 1055es VII tlie statement of financial activities. Depreciation L)epreciation is calculaied 5v lo wtite off th¢ cost or valuation of an asset, less its residiial value, over th¢ useful cconomic lifc of that asset as follows: 2.5•/o reducing balance Fixtures & fittings Investments Fixed asset investments are initially recorded at cosL and subsequently slaied ai c05t I¥yts ]Y accumulated impainnent losses. Impairmeni of fixed assets A review for indiLdiors of impairnient 13 carried out at each reportin8 date, with the recoverdble amount bcing estimated where such indicators exist. Where the canying valu¢ exc¢eds the recoverable amounL the asser is impaired accordingly. Prior impainnents are also reviewed for possible reversal at each reporting datc. For th¢ purposes of impairnient testing. when it is not possible lo estimate the recoverable amount vf individual asset. an ¢stimat¢ is made of the recoverable amount of the cash-generdting unit to which the asset belongs. The cash-generatlDg unit is the smallest identifiable group ot" assets that includes ihe asset and generates cash inflows that largely independent of the cash inflows froIii other assets or groups of assets. For itnpairincni testing of soodwill, the goodwill #equired in a biifinegg combination is. from the acquisition date, allocaied to each of the h-generatIng units that are expected to benefit from the syIicI"gi¢s of th¢ combination, irrespertive of whether other asseig nr liabilities of th¢ charity are assigned to those units. 13-
FRIENDS OF QUEEN MARY'S SIDCUP LIMED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINAP4CIAL STATEMENfs {C•thIM•dj YEAR ENDED 31 DECEMBER 2024 Aceountlng policies (co¢e Finanei21 instruments A financial asset or a financial liability is recognised only when the entity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recogDised at the amount receivable or payable including any related transaction co$ unless the arrdngement constitutes a financing transaction, wher¢ it is recognised at the present value of the future payments discounted at a njarket rdte of interest for a similar debt instrument. Current assets and current liabilities are subsequently me&8ured at the cash or other consideration expected to be paid or received and not discounted. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the cnd of each reporting date. If there is objective evidence of impairnienL an impairnient loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. Limited by guarantee The Company is Limited by Guarantee and does not have any Share Capital. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 DOIYATIONS Collection boxes Gift from subsidiary 190 74,662 74,852 190 74,662 615 46,526 47,141 615 46,526 74.852 47.141 Other investment ineome Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Bank interest receivable 4.733 4,733 3.229 3,229 14-
li FRIENDS OF QUEEN MARY'S SIDCUP LIMrrED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMF.wrs (tOLa0 YEAR ENDED 31 DECEMBER 2024 Expenditure on charitable activilies by fund type Unrestricted Total Funds Funds 2024 Unrestricted Total Funds Funds 2023 Grdnts to hospitsl Support costs (585) 6,337 5,752 (585) 6J37 11,834 6,276 18,110 11.834 6.276 5,752 Expenditure on charitable activitie5 by activity type Grant fimding of activities Support costs Total fuDd$ 2024 Total fund 2023 Grants to hospital Governance costs (585) 6256 81 5,671 81 J8,044 66 (585) 6,337 5,752 Analysis of support eosts Bank charges Total 2024 Totsl 2023 Governance costs Legal and professional fees Depreciation Subscriptions 81 2.522 2.506 1228 81 2,522 2,506 1,228 66 1,968 3.340 902 6.337 6J37 6,270 10. Analysis of grants 2024 2023 GRANTS TO INSTITUTIONS Paid during year Excess payment 203 (788) (585) (585) 11.834 11,834 Total grnnts 11.834 11. Net income Net income is ststed after chargIn{Crediting). 2024 2023 Depreciation oftangible fixed assets 2,506 3.340 15-
FRIENDS OF QUEEN MARY'S SIDCUP LIMITED COMPANY LIMITED BY GUARANfEE OTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 12. Independent examlnation fws 2024 2023 Fees payable to the independent examiner for. Independent examination of the financial statements 2,522 1,968 13. Trustee remuneration aDd expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 14. Tangible fixed assets Fixtures and fittings Total Cost At l January 2024 and 31 December 2024 Depreciation At l January 2024 Charge for the year At 31 December 2024 69,964 69,964 59.941 2,506 62,447 59.941 2,506 62,447 Carrying amount At 31 December 2024 7,517 10,023 7.517 At 31 December 2023 10,023 IS. Invwtments Shares in group undertakings Cost or valuation At l January 2024 #nd 31 December 2024 Impairment At l January 2024 aDd 31 Deeember 2024 Carrying amount At 31 Deeember 2024 1,000 1,000 1,000 At 31 December 2023 'All investments shown above are held at valuation. 16-
FRIENDS OF QUEEN MARY'S SIDCUP LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 16. Investment entities Subsldiaries and other investmcDts Percentage of sliates hcld Class of shi¢ Subsidiary undertakings Friends Shops Limited The results for subsidiaries and other undertakings are as follows: Capital and Te5crvcs 2024 2023 Ordinary 100 PTofiV(loss) for the year 2024 2023 Subsidiary undertakings Friends SIIop5 Limit¢d 1.000 i.ooi 74.662 45,718 The investment in subsidiary undertaking is a IOOO/o shareholdin¥ in Fii¢nd5 Shop3 Limited, a trading subsidiary which operaies the rclliil sites at Quc¢n Mary's Hospital. All profits earned by the %ubsidiary arc gifted by deed of covenant to Friends ot Queen Mary's Sidcup Limited. Tlie subsidiary has bccn valued in the financial statemenis at the origiD411 noniinal valu¢, which 15 equal to the value of reserves in the accounts of the Subsidiary. 17. Debtorj 2024 2023 Amounts owed by group undertakings 121,188 75,797 18. Crcditors: amounts falling due within nne year 2024 2023 Accruals and deferred income 2.211 10.054 J9. Analysi5 ofchgrilable funds Unrestricted funds At 31 December 2 024 Al l Januory 2024 Income Expendittire Cienerdl funds 482,060 79.585 (5.752) 555.893 At 31 December 2 023 At l January 2023 Income F.xpenditure General funds 449.800 50,370 (18.110) 482.060 17-
FRIENDS OF QUEEN MARY'S SIDCUP LIMED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 20. Analysis of net assets between funds Unrestricted Total Funds Funds 2024 Tan£ible fixed &ssets Investments Cuent Assets Creditors less than l year Net assets 7,517 1,000 549,260 (2,211) 555,566 7.517 1,000 549260 (2211) 555,566 Unrestricted Total Funds Funds 2023 Tangible fixed assets Investments Current Assets Creditors less than l year Net assets 10,023 1,000 481,091 (10,054) 482,060 10,023 I, 000 481,091 (10,054) 482, 060 21. FinsD¢ial instruments The carrying amount for each category of financial instrument is as follows: 2024 2023 Financial assets measured at fair value through income and expenditure Amounts owed by group undertakings 121,188 75,797 18-