Charity number: 1151628
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
ANNUAL TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Foundation, its Trustees and advisers | 1 |
| Trustees' report | 2 - 7 |
| Trustees' responsibilities statement | 8 |
| Independent auditors' report on the financial statements | 9 - 12 |
| Statement of financial activities | 13 |
| Balance sheet | 14 |
| Statement of cash flows | 15 |
| Notes to the financial statements | 16 - 30 |
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE FOUNDATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 APRIL 2021
| Trustees | Richard Smith CBE |
|---|---|
| Dr Sean Elyan | |
| Sir Robert Francis QC | |
| Ceinwen Giles | |
| Hardev Virdee (resigned 11 March 2021) | |
| Donna Green | |
| Joe Gannon | |
| Nikki Marsh (resigned 11 March 2021) | |
| Peter Homa (resigned 10 June 2021) | |
| C��������Brown (appointed 1 April 2021) | |
| Dr Hesham Abdalla (appointed 1 April 2021) | |
| Caroline Owusu-Bennoah (appointed 1 April 2021) | |
| Charity registered number 1151628 Registered office The Foundry 17 Oval Way London SE11 5RR Independent auditors Blick Rothenberg Audit LLP Chartered Accountants Statutory Auditor 16 Great Queen Street Covent Garden London WC2B 5AH Bankers The Co-operative Bank Plc PO Box 101 1 Balloon Street Manchester M60 4EP |
Page 1
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 30 APRIL 2021
The Trustees present their report and financial statements for the year1 May 2020 to 30 April 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Foundation's governing document, the Charities Act 2011 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)”.
Objectives and activities
a. Policies and objectives
The Board of Trustees have reviewed the organisation’s strategy as part of a planned three-year cycle. The new strategy is intended to cover the three years from 1 May 2021 to 30 April 2024 but will be assessed on an annual basis to ensure it remains relevant to the environment in which the Foundation is working. The review concluded that the philosophy and direction of the Foundation should remain broadly the same and that the mission has never been more important as we emerge from the COVID-19 pandemic, with greater need for attention to be paid to the wellbeing of health and social care staff, and to listen to the voices of patients and communities as services are re-established.
“Our vision is a health and care system in which patients and staff feel valued and respected”
The mission statement has been amended and agreed as:
The mission of the Point of Care Foundation is to humanise health and social care through strengthening relationships among staff and among staff, patients, and communities.
Our strategy is to reach more people in the health and social care system in the UK through increasing the spread and impact of patient experience programmes (such as Experience Based Co-Design) and staff experience programmes (such as Schwartz Rounds and Team Time). We will achieve this through working more at the system level, encouraging health and care systems to use all the services that we have to offer; developing new products and services; and stimulating thinking and debate on humanising health and social care.
The strategic goals have been re-written for 2021/24:
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Work with systems to change the culture of care, using patient and staff narratives to make the experience of care more human.
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Empower more patients and staff to collaborate and make change together in pursuit of a more human health and care system.
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Train and support health and care organisations and the staff within them to be more responsive to patients and better able to work collaboratively with them in direct care, service planning, governance and improvement.
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Amplify patients’, service users’ and staff voices and challenge organisations to be more responsive to staff and patients.
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Ensure more staff access forums and other mechanisms for reflective practice to create a more compassionate environment.
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Develop the business model for the charity that allows it to sustain and build on the achievements to date, expand our work programmes and to produce more benefit for more patients and more staff.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake.
Page 2
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2021
Objectives and activities (continued)
Objectives for the public benefit
The Point of Care Foundation is an independent charity, whose charitable objectives, as set out in its constitution, are:
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The advancement of education of the public, in particular those working in health and social care, in methods and skills to improve patients’ and service users’ care experience and
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To promote research for the public benefit in all areas of that subject and
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To publish the useful results of such research with the object of improving health and social care outcomes for patients, service users and their families and carers.
In the Achievements and Performance section below, we outline how we meet those objectives through training and support, information sharing and research.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
a. Main achievements of the Foundation
In the year ended 30 April 2021 the Foundation furthered its central aim with rapid changes to the way it delivered its various programmes to clients in all sectors as a result of the COVID-19 pandemic.
1. Thought Leadership
The last year has been dominated by the impact of the pandemic on health and social care and as a consequence a number of the blogs published on the Foundation’s website were concerned with the importance of storytelling for both patients and all staff from students to leaders. Other pieces provided timely reminders that the patient voice would be needed to be loud and clear as services started to return to something like their pre-pandemic state. This latter strand of thought culminated in an open letter to Sir Simon Stevens, the Chief Executive of NHS England in July 2020 making the case for ensuring that patients and staff would be at the heart of health and care services as they restart.
The departure of the Foundation’s founder and Chief Executive was the subject of a piece celebrating her achievements and a separate blog by Jocelyn Cornwell herself on the fifteen years she devoted to the Foundation and its mission to humanise healthcare. Jocelyn’s own mission to humanise healthcare which led her to set up the original Point of Care programme at the King’s Fund and then the Foundation as a separate charity, is ever more relevant as the NHS and the social care systems in the UK seek to renew themselves as the pandemic and its effects on both begin to recede.
As this financial year ended the Foundation produced and has now published its first series of six podcasts titled The Humanising Healthcare podcast. They can be found by subscribing to Apple or Google podcasts or Spotify.
During the year the Foundation also published an Impact Report for the nineteen-month period ended 31 December 2020 – this can be found on the Foundation’s website.
Page 3
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2021
Achievements and performance (continued)
2. Strengthen leadership for humanity in care
The delivery of our Institute of Leadership and Management accredited Foundations in Patient Experience programme was moved online as a response to the pandemic and the social distancing requirements. In the previous year, the bookings for this programme were disappointing but since taking the programme online there has been delivery to two substantial cohorts. This experience leads us to conclude that online delivery may well become a more permanent feature of our work.
Our focus for the Foundations programme in the next three-year period will be to promote this work with the newly established Integrated Care Systems in the NHS in England to help make patient experience at the centre of the way each system develops as a whole and by the ‘Places’ that make them up. We are also targeting this work with the health boards that comprise the NHS in Scotland and Wales and the health and social care boards in Northern Ireland.
3. Empower more patients and more staff to lead bottom up change
Commissions to deliver the Foundation’s quality improvement programme known as the Sweeney programme were subject to periodic pauses in work as a result of COVID-19 lockdowns. These commissions included smaller projects with THIS Institute, the University of Oxford and King’s College London as well as more substantial pieces of work with Frimley integrated care system and Alder Hey children’s hospital.
During the year we developed and started to deliver our experience based co-design (“EBCD”) programme online and as with the Foundations programme we found there was a steady demand for this with four cohorts delivered between October 2020 and the end of the financial year. Our EBCD work with the Vermont Oxford Network in the US has continued into a fourth year.
Another key area of focus in this year has been the launch of our diversity and inclusion project. We have been looking at how inclusive we are in the services we offer, and how we might improve. This work has included analysing national statistics on the organisations we work with, devising a corporate statement of intent regarding inclusion, and initiating diversity and inclusion monitoring in the Schwartz programme. We have also been running workshops on this topic at the Schwartz community events, seeking practical actions we can take to ensure we are as inclusive as possible.
4. Help more staff access forums for reflective practice
During the year ended 30 April 2021 thirty-six new sites signed up to run Schwartz Rounds (“Rounds””) which was an increase on the previous year. The Foundation has successfully supported a second stage of a pilot of the Rounds in Children’s Social Care and at the time of writing are awaiting the final report of the evaluation that has been carried out; early indications are that the Rounds provide support to social care staff in the same way as they do health care staff.
As reported in the previous year’s annual report, the pandemic led us to the development of an online intervention based on the principles of Schwartz Rounds which is called Team Time. We were successful in helping existing Schwartz Rounds sites to implement this new intervention and received continuing feedback that it has been a very welcome source of support for healthcare staff. During this financial year we undertook a project funded by NHS England and Improvement to promote Team Time to trusts in England that had not previously run Schwartz Rounds. We have worked with twenty-three trusts to implement Team Time and a number of these are now looking to take on Schwartz Rounds to support their staff.
We have continued to run our events for the Schwartz Rounds community online and these have been very popular; we ran eight in the autumn of 2020 and five in spring 2021.
Page 4
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2021
Achievements and performance (continued)
Financial review
a. Introduction
The Foundation’s financial performance in the financial year ended 30 April 2021 was an improvement on the previous year despite the pandemic.
Income increased by 5% to £697,863 (2020: £669,909) with the success of our online delivery. Conscious of the need to ensure our financial sustainability, the total resources expended were reduced by 22% to £517,991 (2020: £661,912). The Foundation had a surplus of income over expenditure of £179,872 (2020: £7,997). This is a welcome boost to our reserves, providing a platform from which to consider modest growth in the next twelve months.
At 30 April 2021, the balance sheet showed net assets of £278,763 (2020: £98,891) with no restricted funds (20��: £Nil) The bank balance at the balance sheet date was £878,762 (2020: £429,330) although it should be noted that £744,514 (2020: £449,361) of this comprised income deferred into subsequent years since it related to services contracted but not yet delivered as at 30 April 2021.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Trustees continue to adopt a reserves policy to reflect the state of development of the charity, financial commitments made to date, and the risk associated with the continuation of income generation going forward. The Trustees have established an unrestricted reserves policy with a reserves level set at a minimum of £85,000. This level would allow the Trustees to cover the costs of closure, should revenues not continue. The Board will continue to review the level of reserves on an ongoing basis, in line with the charity’s commitments and key risks.
c. Risk management
The Point of Care Foundation maintains a risk register and regularly reviews and evaluates risk and identifies appropriate preventative activities to minimise risk to the organisation. Trustees are confident that risks have been identified and appropriate risk management measures are in place. However, risks are kept under continual review and regular risk evaluation exercises are undertaken with Trustees.
Structure, governance and management
a. Constitution
The Point of Care Foundation is a Charitiable Incorporated Organisation registered at the Charity Commission in England and Wales with charity number 1151628. It was established by a constitution on 12 April 2013. Its principal address is The Foundry, 17 Oval Way, London, SE11 5RR.
Page 5
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2021
Structure, governance and management (continued)
b. Trustees
The Trustees who served during the year and up to the date of signature of the financial statements were:
Richard Smith CBE Dr Sean Elyan Sir Robert Francis QC Ceinwen Giles Hardev Virdee (Resigned 11 March 2021) Donna Green Joe Gannon Nikki Marsh (Resigned 11 March 2021) Peter Homa (Resigned 10 June 2021) C�������� Brown (Appointed 1 April 2021) Dr Hesham Abdalla (Appointed 1 April 2021) Caroline Owusu-Bennoah (Appointed 1 April 2021)
The appointment of the new Trustees was approved by the board on 11 March 2021.
c. Organisational structure and decision-making policies
The governance of the charity is the responsibility of the Board of Trustees, which takes decisions on the strategic leadership of the organisation by democratic majority vote at its general meetings, which take place quarterly. The ��������� board meeting is an all-day meeting for all trustees and staff on the five year strategy. The elected Trustees serve a three year term.
d. Policies adopted for the induction and training of Trustees
As part of their induction, all new Trustees are offered formal induction meetings with the Chairman and the Chief Executive. They also receive a pack of papers on the work of the charity containing recent board papers and Charity Commission guidance on Trustee responsibilities.
e. Related party relationships
There are no related parties to the way in which the Foundation carries out its business and objectives apart from that detailed in note 21.
Plans for future periods
The Foundation has a business plan for 2020/21 that contains the agreed strategies and actions required to deliver its strategic objectives set out above. Given the predicted continuation of the current poor financial environment this plan has been drawn up to develop the Foundation’s enterprise capability. In essence this will require it to sustain itself on the basis of selling its products and services and becoming less reliant on grant income. Development work is being undertaken on the pricing and promotion of products and services offered by the Foundation together with associated supporting systems and processes.
Page 6
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2021
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
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so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
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that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Blick Rothenberg Audit LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Richard Smith CBE (Trustee)
Date: ������������������
Page 7
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 30 APRIL 2021
The Trustees (who are also the directors of the Foundation 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 Foundation 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Foundation will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Foundation's transactions and disclose with reasonable accuracy at any time the financial position of the Foundation 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 Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 8
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE POINT OF CARE FOUNDATION
Opinion
We have audited the financial statements of The Point of Care Foundation (the 'Foundation') for the year ended 30 April 2021 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).
In our opinion the financial statements:
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give a true and fair view of the state of the Foundation's affairs as at 30 April 2021 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
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 Foundation 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.
Page 9
THE POINT OF CARE FOUNDATION (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE POINT OF CARE FOUNDATION (CONTINUED)
Other information
The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
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 Foundation'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.
Page 10
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE POINT OF CARE FOUNDATION (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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we identified the laws and regulations applicable to the charitable company through discussions with management, and from our commercial knowledge and experience of the charitable sector;
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable incorporation, including the Charities Act 2011, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
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;
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tested a sample of journal entries to identify unusual transactions; and
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investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading the minutes of meetings of those charged with governance; and
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enquiring of management as to actual and potential litigation and claims.
Page 11
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE POINT OF CARE FOUNDATION (CONTINUED)
Auditors' responsibilities for the audit of the financial statements (continued)
There are inherent limitations in our audit procedures described above. The more removed that 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.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
Use of our report
This report is made solely to the trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the trustees 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Christopher Shepherd FCA (senior statutory auditor)
for and on behalf of Blick Rothenberg Audit LLP
Chartered Accountants Statutory Auditor 16 Great Queen Street Covent Garden London WC2B 5AH
Date:
Page 12
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 APRIL 2021
| Note Income from: Donations and legacies 3 Charitable activities 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 768 654,898 655,666 475,794 475,794 179,872 98,891 179,872 278,763 |
Restricted funds 2021 £ 42,197 - 42,197 42,197 42,197 - - - - |
Total funds 2021 £ 42,965 654,898 697,863 517,991 517,991 179,872 98,891 179,872 278,763 |
Total funds 2020 £ 50,264 619,645 |
|---|---|---|---|---|
| 669,909 | ||||
| 661,912 | ||||
| 661,912 | ||||
| 7,997 | ||||
| 90,894 7,997 |
||||
| 98,891 |
The Statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Page 13
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
BALANCE SHEET AS AT 30 APRIL 2021
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 14 Net assets excluding pension asset Total net assets Charity funds Restricted funds Unrestricted funds 16 Total funds |
273,096 876,762 1,149,858 (697,079) |
2021 £ 3,848 452,779 456,627 (177,864) 278,763 278,763 - 278,763 278,763 |
220,946 429,330 650,276 (406,958) |
As restated 2020 £ 3,745 243,318 247,063 (148,172) 98,891 98,891 - 98,891 98,891 |
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Richard Smith CBE (Trustee)
Date: ����������������
The notes on pages 16 to 30 form part of these financial statements.
Page 14
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2021
| Cash flows from operating activities Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash used in investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 16 to 30 form part of these financial statements |
2021 £ 450,380 (2,948) (2,948) - 447,432 429,330 876,762 |
2020 £ 51,889 (5,509) (5,509) - 46,380 382,950 429,330 |
|---|---|---|
Page 15
THE POINT OF CARE FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
1. General information
The Point of Care Foundation is a Charitable Incorporated Organisation registered at the Charity Commission in England and Wales with charity number 1151628. Its principal address is The Foundry, 17 Oval Way, London, SE11 5RR.
The financial statements are presented in Sterling (£).
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities Act 2011 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)" (as amended for accounting periods commencing from 1 January 2019).
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2 Going concern
After making enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the forseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
2.3 Income
All income is recognised once the Foundation has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
2.4 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used.
Page 16
THE POINT OF CARE FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
2. Accounting policies (continued)
2.5 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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Foundation'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.
All expenditure is inclusive of irrecoverable VAT.
2.6 Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the statement of financial activities in the same period as the related expenditure. Grant Income relating to the Government Coronavirus Job Retention Scheme, or "Furlough" scheme, are included in other operating income in the statement of financial activities.
2.7 Intangible assets and amortisation
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
The estimated useful lives are as follows:
Amortisation is provided on the following basis:
Website costs - 33 % straight line
Page 17
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
2. Accounting policies (continued)
2.8 Tangible fixed assets and depreciation
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 Foundation 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.
Depreciation is provided on the following basis:
Office equipment - 10% Straight line Computer equipment - 33% Straight line
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.10 Financial instruments
The Foundation has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the Foundation becomes party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Foundation after deducting all of its liabilities.
The Foundation’s policies for its major classes of financial assets and financial liabilities are set out below.
Page 18
THE POINT OF CARE FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
2. Accounting policies (continued)
Financial instruments (continued)
Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of financial activities.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in statement of financial activities.
Page 19
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
2. Accounting policies (continued)
Financial instruments (continued)
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.11 Pensions
The Foundation operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Foundation to the fund in respect of the year.
2.12 Prior year comparatives
Comparatives relating to deferred income have been restated to show the amounts falling due after more than one year, as set out in note 14. This reclassification has not resulted in an effect on the net funds of the charity as at 30 April 2020 or the surplus for the year then ended.
Page 20
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
3. Income from donations and legacies
| Donations Grants Government grants Total 2021 Donations Grants Total 2020 Income from charitable activities Income from charitable activities Income from charitable activities |
Unrestricted funds 2021 £ 768 - - 768 Unrestricted funds 2020 £ 24,934 - 24,934 |
Restricted funds 2021 £ - 38,216 3,981 42,197 Restricted funds 2020 £ - 25,330 25,330 Unrestricted funds 2021 £ 654,898 Unrestricted funds 2020 £ 619,645 |
Total funds 2021 £ 768 38,216 3,981 |
|---|---|---|---|
| 42,965 | |||
| Total funds 2020 £ 24,934 25,330 |
|||
| 50,264 | |||
| Total funds 2021 £ 654,898 |
|||
| Total funds 2020 £ 619,645 |
4. Income from charitable activities
Page 21
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
5. Analysis of expenditure on charitable activities
Summary by fund type
| Direct costs Direct costs Summary by expenditure type Direct costs Direct costs |
Unrestricted funds 2021 £ 475,794 Unrestricted funds 2020 £ 636,582 Staff costs 2021 Depreciation 2021 £ £ 260,614 2,415 Staff costs 2020 Depreciation 2020 £ £ 284,126 11,634 |
Restricted funds 2021 £ 42,197 Restricted funds 2020 £ 25,330 Other costs 2021 £ 254,962 Other costs 2020 £ 366,152 |
Total funds 2021 £ 517,991 Total funds 2020 £ 661,912 Total funds 2021 £ 517,991 Total funds 2020 £ 661,912 |
|---|---|---|---|
Page 22
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
6. Analysis of expenditure by activities
| Direct costs Direct costs Analysis of direct costs Staff costs Depreciation Other costs |
Activities undertaken directly 2021 £ 465,468 Activities undertaken directly 2020 £ 565,190 |
Support costs 2021 £ 52,523 Support costs 2020 £ 96,722 Activities 2021 £ 244,268 2,415 218,785 465,468 |
Total funds 2021 £ 517,991 |
|---|---|---|---|
| Total funds 2020 £ 661,912 |
|||
| Total funds 2021 £ 244,268 2,415 218,785 |
|||
| 465,468 |
Page 23
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
6. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
| Staff costs Depreciation Other costs Analysis of support costs Staff costs General administration Loss on disposal of assets Governance costs Staff costs Governance costs |
Activities 2020 £ 254,138 11,634 299,418 565,190 Activities 2021 £ 16,346 25,696 431 10,050 52,523 Activities 2020 £ 29,988 66,734 96,722 |
Total funds 2020 £ 254,138 11,634 299,418 |
|---|---|---|
| 565,190 | ||
| Total funds 2021 £ 16,346 25,696 431 10,050 |
||
| 52,523 | ||
| Total funds 2020 £ 29,988 66,734 |
||
| 96,722 |
7. Auditors' remuneration
The auditors' remuneration amounts to an auditor fee of £8,400 (2020 - £8,400).
Page 24
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
8. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2021 £ 223,378 19,969 17,267 260,614 |
2020 £ 248,277 23,888 11,961 |
|---|---|---|
| 284,126 |
The average number of persons employed by the Foundation during the year was as follows:
| 2021 | 2020 |
|---|---|
| No. | No. |
| 6 | 7 |
No employee received remuneration amounting to more than £60,000 in either year. Payments to key management personnel during the year totalled £123,444 (2020: £141,876).
9. Trustees' remuneration and expenses
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Foundation during the year, with regard to their services as a trustee.
During the year ended 30 April 2021, no Trustee expenses have been incurred (2020 - £2,786).
Page 25
THE POINT OF CARE FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
| 10. Intangible assets Cost At 1 May 2020 At 30 April 2021 Amortisation At 1 May 2020 At 30 April 2021 Net book value At 30 April 2021 At 30 April 2020 |
Computer software £ 55,783 |
|---|---|
| 55,783 | |
| 55,783 | |
| 55,783 | |
| - | |
| - |
Page 26
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
11. Tangible fixed assets
| Cost At 1 May 2020 Additions Disposals At 30 April 2021 Depreciation At 1 May 2020 Charge for the year On disposals At 30 April 2021 Net book value At 30 April 2021 At 30 April 2020 12. Debtors Due within one year Trade debtors Prepayments and accrued income |
Plant and machinery £ 51,391 2,839 (34,706) 19,524 48,067 2,378 (34,696) 15,749 3,775 3,324 |
Fixtures and fittings £ 862 109 (862) 109 441 37 (442) 36 73 421 2021 £ 272,024 1,072 273,096 |
Fixtures and fittings £ 862 109 (862) 109 441 37 (442) 36 73 421 2021 £ 272,024 1,072 273,096 |
Total £ 52,253 2,948 (35,568) 19,633 48,508 2,415 (35,138) 15,785 3,848 3,745 2020 £ 150,061 70,885 |
|
|---|---|---|---|---|---|
| 273,096 | 220,946 |
Page 27
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
13. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Accruals and deferred income |
2021 £ 7,296 75,287 614,496 697,079 |
As restated 2020 £ 2,373 66,194 338,391 |
|---|---|---|
| 406,958 |
Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the funder has specified that the income is to be used in a future accounting period.
14. Creditors: Amounts falling due after more than one year
| As restated | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Accruals and deferred income | 177,864 | 148,172 |
15. Financial instruments
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 876,762 | 429,330 |
Financial assets measured at fair value through income and expenditure comprise of cash at bank.
Page 28
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
16. Summary of funds
| Total funds at 1 May 2020 Income Expenditure £ £ £ Summary of funds - current year General funds 98,891 655,666 (475,794) Restricted funds - 42,197 (42,197) 98,891 697,863 (517,991) Total funds at 1 May 2019 Income Expenditure £ £ £ Summary of funds - prior year General funds 90,894 644,579 (661,912) Restricted funds - 25,330 - 90,894 669,909 (661,912) 17. Reconciliation of net movement in funds to net cash flow from operating activities 2021 £ Net income for the year (as per Statement of Financial Activities) 179,872 Adjustments for: Depreciation charges 2,415 Loss on the sale of fixed assets 431 Increase in debtors (52,150) Increase in creditors 24,660 Increase in deferred income 295,153 Net cash provided by operating activities 450,381 |
Total funds £ 278,763 - 278,763 Total funds £ 73,561 25,330 98,891 2020 £ 7,997 11,634 - (16,930) 17,895 31,293 51,889 |
|---|---|
Page 29
(A Company Limited by Guarantee)
THE POINT OF CARE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021
18. Analysis of cash and cash equivalents
| Cash in hand Total cash and cash equivalents |
2021 £ 876,762 876,762 |
2020 £ 429,330 |
|---|---|---|
| 429,330 |
19. Analysis of changes in net funds
| At 1 May | At 30 April | ||
|---|---|---|---|
| 2020 | Cash flows | 2021 | |
| £ | £ | £ | |
| Cash at bank and in hand | 429,330 | 447,432 | 876,762 |
20. Operating lease commitments
The Foundation had no commitments under non-cancellable operating leases at 30 April 2021.
21. Related party transactions
The Foundation has not entered into any related party transactions during the year, nor are there any outstanding balances owing between related parties and the Foundation at 30 April 2021.
Page 30