REGISTERED COMPANY NUMBER: 07208770 (England and Wales) REGISTERED CHARITY NUMBER: 1136143
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31st December 2022
for
Tenbury Community Hospital League of Friends
Dyke Ruscoe & Hayes Ltd Chartered Certified Accountants 110 Corve Street Ludlow SHROPSHIRE SY8 1DJ
Tenbury Community Hospital League of Friends
Contents of the Financial Statements for the Year Ended 31st December 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 15 |
| Detailed Statement of Financial Activities | 16 | to | 17 |
Tenbury Community Hospital League of Friends
Report of the Trustees for the Year Ended 31st December 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the League are to assist the welfare and wellbeing of patients and former patients. This is achieved in three ways:-
| (1) | by providing the hospital with new equipment as necessary, thus ensuring that the patients are treated |
|---|---|
| using the latest and most sophisticated methods possible. | |
| (2) | by providing buildings, facilities and open space as well as services to patients to help make their stay |
| in hospital as comfortable as possible. | |
| (3) | through the making of grants to relevant associated organisations as deemed appropriate by the trustees. |
The main activities of the League have been fundraising and supporting the work of the hospital. The League has continued to supplement hospital services, assist hospital staff, support sick patients and recruit volunteers.
Public benefit
The trustees have had regard to the Charity Commission's guidance on public benefit and believe that the League's continued support of the hospital is of huge public benefit to the people of Tenbury and the surrounding area.
Volunteers
The League is pleased to recognise the contribution made by its volunteers, the value of which is not quantified within the financial statements.
ACHIEVEMENT AND PERFORMANCE
During the year the League continued the successful fundraising. It also continued to purchase new equipment for the hospital.
FINANCIAL REVIEW
Financial position
During the year the League had an excess of income over expenditure of £125,990 (2021: surplus £140,393), resulting in reserves carried forward of £2,380,226 (2021: £2,254,236). Whilst reserves remain free and unrestricted, the trustees are accumulating those reserves whilst they are in negotiation with the Health Authorities to possibly provide an X-ray machine.
Principal funding sources
The League's principal sources of income are from donations and legacies.
Reserves Policy
The League holds reserves pending requests from the Hospital Trust for equipment and ancillary items which by nature are of high value. The League has a reserves policy of £30,000.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
New trustees are appointed by the members.
Page 1
Tenbiiry COm1ty Hospital Lellgue of Friends Report of the Truste for the Year Ended 31st December 2022 REFERENCE AND ADiIIIN[RTlVE DETAILS Registered Company number 07208770 (Englond alld Wales) Registered ChArity number 1136143 Registered office Wayside House Worcester Raad Burford Tenbury WelIs WorceSters're WR15 8AS Trustees Mr8 M A LaJJman BEM AJD81e Mrs R A MAdatLS Dr R F Tinkler PM Gibbs G C BEnnet Mrg E K Padwick Mr8 S M Wliteft Company Secret9ry Mrs E K Padwi¢k IndepeDdent EXaltr P K ReJTolds Dyke Ruscoe & Hayes Ltd Chgrtered certifi Accountants 110 Corve Street Ludlow SHROPSH SY8 IDJ COMMENCEMENT OF AcfiviTIES Th¢ ¢haritabl¢ company iyas iurorporaled Dn the 30 Nlarch ?010 w]d register¢d a charity on the 2 June 2010. Thc charitable company remained dormant until l August 2010 when the a]VitieS and assets of the unincorporated entity The L¢ague of Friend5 of Tenbury arKI District Comrnunitv Hospitsi (Charity number SI640) welt transfrrred. Thi5 report has been prepared it] accordan¢e with special PfOViSiOTLq of P¥rt 15 of the Companies Aet 21N)6 r¢lating to 5llLall wmpani¢s. Approved by order of the board of trustees on 16th May 2023 and sigthed on its bebalf by: Mr$ E K Padwick- Page 2
Independent Examiner's Report to the Trustees of Tenbury Community Hospital League of Friends
Independent examiner's report to the trustees of Tenbury Community Hospital League of Friends ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
P K Reynolds
Dyke Ruscoe & Hayes Ltd Chartered Certified Accountants 110 Corve Street Ludlow SHROPSHIRE SY8 1DJ
Date: ............................................. 16 May 2023
Page 3
Tenbury Community Hospital League of Friends
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31st December 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities Hospital funding Other Total Net gains/(losses) on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 239,782 19,969 259,751 4,032 50,931 4,133 59,096 (74,665) 125,990 2,254,236 2,380,226 |
Restricted fund £ - - - - - - - - - - - |
Year Ended 31.12.22 Total funds £ 239,782 19,969 259,751 4,032 50,931 4,133 59,096 (74,665) 125,990 2,254,236 2,380,226 |
Period 31.12.20 to 31.12.21 Total funds £ 140,126 13,857 |
|---|---|---|---|---|
| 153,983 | ||||
| 2,843 44,274 4,984 |
||||
| 52,101 | ||||
| 38,511 | ||||
| 140,393 2,113,843 |
||||
| 2,254,236 |
The notes form part of these financial statements
Page 4
Tenbury Community Hospital League of Friends
Balance Sheet 31st December 2022
| Notes FIXED ASSETS Tangible assets 10 Investments 11 CURRENT ASSETS Debtors: amounts falling due within one year 12 Debtors: amounts falling due after more than one year 12 Prepayments and accrued income Cash at bank 13 CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 15 Unrestricted funds TOTAL FUNDS |
Unrestricted fund £ 827,972 488,208 1,316,180 12,500 337,500 1,440 715,604 1,067,044 (2,998) 1,064,046 2,380,226 2,380,226 |
Restricted fund £ - - - - - - - - - - - - |
2022 Total funds £ 827,972 488,208 1,316,180 12,500 337,500 1,440 715,604 1,067,044 (2,998) 1,064,046 2,380,226 2,380,226 2,380,226 2,380,226 |
2021 Total funds £ 841,929 326,259 1,168,188 12,500 350,000 1,219 723,829 1,087,548 (1,500) 1,086,048 2,254,236 2,254,236 2,254,236 2,254,236 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 5
'I'ellbury Community Hospit41 League otFriend5 BalAnte Sbe¢t. continued 31st December 2022 These financial $tstem¢nts bave beeD prepared in gwordance with th¢ PTovisioll5 appIlble to cbaritable wmpallies subje¢t to the small compallies re8ime. The flnancial statements were approved by the Board of Tn]stee5 and authorised for issuc on 16th May 2023 and were signed on its behalf by.. S M Whilefoot- Trustee The tjotes forni part of these fjDan¢ial slaternents Page 6
Tenbury Community Hospital League of Friends
Notes to the Financial Statements for the Year Ended 31st December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income from trading activities is stated after any discounts. Income is not subject to VAT or any other sales taxes.
Expenditure
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Governance costs
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulations and good practice.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Improvements to property - cost over 11 years Plant and machinery - 25% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
All funds are unrestricted and can be used in accordance with the charitable objectives at the discretion of the trustees.
Fixed asset investments
Investments are a form of basic financial instrument. Fixed asset investments are initially recognised at their transaction value and are subsequently measured at their fair value (market value) as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. Quoted stocks and shares are included in the Balance Sheet at the current market value quoted by the investment analyst, excluding dividend.
continued...
Page 7
Tenbury Community Hospital League of Friends
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
1. ACCOUNTING POLICIES - continued
Fixed asset investments
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.
Investments are managed on a total return basis in line with the powers given under The Trusts (Capital and Income) Act 2013.
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 opening carrying value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening carrying value (or purchase date if later).
Debtors
Debtors are amounts owed to the charity. They are measured on the basis of their recoverable amount.
Cash at bank and in hand
Cash at bank and in hand is held to meet the day to day running costs of the charity as they fall due. Cash equivalents are short term, highly liquid investments, usually in instant access interest bearing savings accounts.
Creditors
Creditors are amounts owed by the charity. They are measured at the amount that the charity expects to have to pay to settle the debt.
2. DONATIONS AND LEGACIES
| Year Ended 31.12.22 £ Donations 8,303 Legacies 230,495 Subscriptions 984 239,782 |
Period 31.12.20 to 31.12.21 £ 139,442 - 684 |
|---|---|
| 140,126 |
3. INVESTMENT INCOME
| Period | ||
|---|---|---|
| 31.12.20 | ||
| Year Ended | to | |
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| Investment income | 17,197 | 11,920 |
| Deposit account interest | 2,772 | 1,937 |
| 19,969 | 13,857 |
continued...
Page 8
Tenbury Community Hospital League of Friends
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
4. RAISING FUNDS
Investment management costs
| Investment management costs | |||
|---|---|---|---|
| Period | |||
| 31.12.20 | |||
| Year Ended | to | ||
| 31.12.22 | 31.12.21 | ||
| £ | £ | ||
| Investment management costs | 4,032 | 2,843 | |
| 5. | GRANTS PAYABLE | ||
| Period | |||
| 31.12.20 | |||
| Year Ended | to | ||
| 31.12.22 | 31.12.21 | ||
| £ | £ | ||
| Hospital funding | 12,500 | 12,500 | |
| Grants made payable to institutions in 2022 totalled £12,500. (2021 £12,500). |
6. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Management | costs | Totals | |
| £ | £ | £ | |
| Other resources expended | 4,133 | - | 4,133 |
| Hospital funding | - | 1,012 | 1,012 |
| 4,133 | 1,012 | 5,145 | |
| Support costs, included in the above, are as follows: |
Management
| Management | ||
|---|---|---|
| Period | ||
| 31.12.20 | ||
| Year Ended | to | |
| 31.12.22 | 31.12.21 | |
| Other | ||
| resources | Total | |
| expended | activities | |
| £ | £ | |
| Insurance | 3,233 | 3,127 |
| Accountancy | 600 | 600 |
| Website costs | 300 | 300 |
| Sundries | - | 50 |
| 4,133 | 4,077 |
continued...
Page 9
Tenbury Community Hospital League of Friends
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
6. SUPPORT COSTS - continued Governance costs
| SUPPORT COSTS - continued Governance costs |
||
|---|---|---|
| Period | ||
| 31.12.20 | ||
| Year Ended | to | |
| 31.12.22 | 31.12.21 | |
| Hospital | Total | |
| funding | activities | |
| £ | £ | |
| Postage and stationery | 112 | - |
| Examination fee | 900 | 900 |
| 1,012 | 900 | |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| Period | ||
| 31.12.20 | ||
| Year Ended | to | |
| 31.12.22 | 31.12.21 | |
| £ | £ | |
| Depreciation - owned assets | 36,629 | 31,075 |
7. NET INCOME/(EXPENDITURE)
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the period ended 31st December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2022 nor for the period ended 31st December 2021.
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Hospital funding Other Total |
Unrestricted fund £ 140,126 13,857 153,983 2,843 44,274 4,984 52,101 |
Restricted fund £ - - - - - - - |
Total funds £ 140,126 13,857 |
|---|---|---|---|
| 153,983 | |||
| 2,843 44,274 4,984 |
|||
| 52,101 |
continued...
Page 10
Tenbury Community Hospital League of Friends
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ Net gains on investments 38,511 NET INCOME 140,393 RECONCILIATION OF FUNDS Total funds brought forward 2,113,843 TOTAL FUNDS CARRIED FORWARD 2,254,236 10. TANGIBLE FIXED ASSETS Improvements Freehold to property property £ £ COST At 1st January 2022 1,000,000 22,265 Additions - - At 31st December 2022 1,000,000 22,265 DEPRECIATION At 1st January 2022 182,751 18,654 Charge for year 16,000 2,020 At 31st December 2022 198,751 20,674 NET BOOK VALUE At 31st December 2022 801,249 1,591 At 31st December 2021 817,249 3,611 |
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ Net gains on investments 38,511 NET INCOME 140,393 RECONCILIATION OF FUNDS Total funds brought forward 2,113,843 TOTAL FUNDS CARRIED FORWARD 2,254,236 10. TANGIBLE FIXED ASSETS Improvements Freehold to property property £ £ COST At 1st January 2022 1,000,000 22,265 Additions - - At 31st December 2022 1,000,000 22,265 DEPRECIATION At 1st January 2022 182,751 18,654 Charge for year 16,000 2,020 At 31st December 2022 198,751 20,674 NET BOOK VALUE At 31st December 2022 801,249 1,591 At 31st December 2021 817,249 3,611 |
- continued Restricted fund £ - - - - Plant and machinery £ 51,963 22,672 74,635 30,894 18,609 49,503 25,132 21,069 |
Total funds £ |
|
|---|---|---|---|---|
| 38,511 | ||||
| 140,393 2,113,843 |
||||
| 2,254,236 | ||||
| Totals £ 1,074,228 22,672 1,096,900 232,299 36,629 268,928 827,972 841,929 |
||||
The freehold property represents land and buildings. The total value was provided by an independent valuation on 31 December 2010, being the date the previous unincorporated charity was incorporated. No revaluation reserve is therefore shown.
The trustees have estimated the land element, and depreciation is provided at 2% on cost on the buildings element.
Equipment purchased prior to incorporation was not depreciated; all equipment is now depreciated at 25% on cost.
continued...
Page 11
Tenbury Community Hospital League of Friends
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
11. FIXED ASSET INVESTMENTS
| MARKET VALUE At 1st January 2022 Additions Disposals Impairments At 31st December 2022 NET BOOK VALUE At 31st December 2022 At 31st December 2021 There were no investment assets outside the UK. Cost or valuation at 31st December 2022 is represented by: Valuation in 2021 Valuation in 2022 DEBTORS Amounts falling due within one year: Loan to health authority Amounts falling due after more than one year: Loan to health authority Aggregate amounts |
Listed investments £ 326,259 246,944 (3,785) (81,210) 488,208 488,208 326,259 Listed investments £ 326,259 161,949 488,208 2022 2021 £ £ 12,500 12,500 337,500 350,000 350,000 362,500 |
|---|---|
12. DEBTORS
continued...
Page 12
Tenbury Community Hospital League of Friends
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
| 13. CASH AT BANK TSB Current Account Virgin Money Deposit Account TSB Instant Access Account Harris Allday Cash Account Total 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accrued expenses 15. MOVEMENT IN FUNDS At 1.1.22 £ Unrestricted funds General fund 2,254,236 TOTAL FUNDS 2,254,236 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 259,751 (59,096) TOTAL FUNDS 259,751 (59,096) |
2022 Total funds £ 36,182 40,000 637,276 2,146 715,604 2022 £ 1,498 1,500 2,998 Net movement in funds £ 125,990 125,990 Gains and losses £ (74,665) (74,665) |
2021 Total funds £ 23,625 40,000 634,610 25,594 723,829 2021 £ - 1,500 1,500 At 31.12.22 £ 2,380,226 2,380,226 Movement in funds £ 125,990 125,990 |
|||
|---|---|---|---|---|---|
continued...
Page 13
Tenbury Community Hospital League of Friends
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
15. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are as Incoming resources £ Unrestricted funds General fund 153,983 TOTAL FUNDS 153,983 |
At 31.12.20 £ 2,113,843 2,113,843 follows: Resources expended £ (52,101) (52,101) |
Net movement in funds £ 140,393 140,393 Gains and losses £ 38,511 38,511 |
At 31.12.21 £ 2,254,236 2,254,236 Movement in funds £ 140,393 140,393 |
|
|---|---|---|---|---|
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2022.
17. ULTIMATE CONTROLLING PARTY
The trustees consider the board of directors to be the ultimate controlling party.
18. COMPANY LIMITED BY GUARANTEE
The Charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.
19. GOING CONCERN
The trustees believe that the charity faces no material uncertainties and will be able to maintain positive cash flows for the foreseeable future and, as a result, the going concern basis of accounting has been adopted.
continued...
Page 14
Tenbury Community Hospital League of Friends
Notes to the Financial Statements - continued for the Year Ended 31st December 2022
20. LEASE OF FREEHOLD PROPERTY
The freehold property is the subject of 99 year leases dated 10 November 2000 and 10 February 2012 in favour of the Worcestershire Primary Care Trust. The leases are at a peppercorn rent, and are subject to a break clause in the event that the tenant no longer continues to provide hospital services on the site.
21. LOAN ASSET
On 30 November 2010 a loan of £500,000 was provided to the Worcestershire Primary Care Trust to fund the building of additional hospital facilities. This loan is being written off over a term of 40 years, with the balance outstanding at any point being repayable in the event that the Primary Care Trust were to discontinue providing hospital services on the site owned by the Friends/adjacent to the land owned by the Friends.
Page 15