Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
HERTFORDSHIRE COMMUNITY NURSES CHARITY
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
Page 1 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
HERTFORDSHIRE COMMUNITY NURSES CHARITY
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
| Index | |
|---|---|
| Page | |
| Trustees Report | 3-7 |
| Independent Examiner's Report | 8 |
| Statement of financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to Financial Statements | 11 - 13 |
Page 2 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
HERTFORDSHIRE COMMUNITY NURSES CHARITY
(Principal Office: 38 High Street, ware, SG12 9BY)
TRUSTEES' REPORT
For the Year ended 31 March 2025
The Trustees present their report and the unaudited financial statements for the year ended 31 March 2025.
OBJECTS OF THE CHARITY
The Trust was originally formed as Hertfordshire County Nursing Trust (HCNT) and was governed by its Trust Deed dated 16 October 1952.
The Trustees decided that this Deed had become out of date and in September 2014, The Charity Commission agreed that HCNT should become a Charitable Incorporated Organisation and a new Deed was issued. The name of the Charity changed to Hertfordshire Community Nurses Charity (HCNC), whose objects are:
(1) To provide and make grants and other financial provision for the training and general welfare of community nurses, (including nurses in general practice, hospice nurses working in the community and students intending to practice community nursing), who are being, or intend to be, or have at any time been employed or trained in the County of Hertfordshire ("Hertfordshire Nurses").
(2) To provide and make grants or pay pensions to Hertfordshire Nurses who are in need and have retired from active work to the intent that such grants or pensions may be additional to any grants or pensions from any other source.
(3) To provide and make grants for improved facilities and conditions of work for Hertfordshire Nurses.
(4) To make grants to enable any form of treatment or care in convalescence to be provided for Hertfordshire Nurses.
(5) To provide and make grants to enable the provision of any medical, surgical, pharmaceutical and remedial as may from time to time be required for the purposes aforesaid.
(6) To provide and make grants to bodies or persons to enable them to engage in, or to enable them to propose to engage in, any form of research, the object of which is the discovery of new methods of prevention, cure or treatment to safeguard and improve the health of the public.
(7) To provide and make grants to the Queen's Nursing Institute.
(8) To provide and make grants towards the purchase, erection, establishment, maintenance or management of any housing accommodation established for the benefit of Hertfordshire Nurses.
(9) To provide and make grants to other Charitable Trusts or Institutions, the objects of which are similar to the main objects of the CIO.
(10) To manage any housing accommodation established for the benefit of Hertfordshire Nurses.
(11) To raise further funds for the purpose of carrying out the objects of the CIO.
Page 3 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
ORGANISATION
HCNC is a registered Charity (number 1158593). It is governed by a Board of Trustees which is responsible for setting the strategic direction of the charity and for establishing policy. The responsibility for financial procedures, grant allocation and the management of the properties is delegated by the Trustees to the Executive Committee.
Following the Trust's deregistration as a Social Landlord in 1999/2000, the financial statements now comply with the disclosures of the SORP "Accounting by Charities".
TRUSTEES
The Trustees of the Charity during the year are as follows:
Suzy Richardson (Chair) Caroline Cherry Daniel Shaw Mark Whiting Patrick Hudson Charles Robarts Marcus Taverner Rhonda Moon
Under the HCNC deed, there must be not less than 8 and not more than 20 trustees. Each Trustee is appointed for three years and can be re-appointed under a rolling programme, so that the potential change of Trustees is spread. The Committee usually meet three times a year but more often if the need arises.
The Charity normally recruits potential Trustees through personal connections and it endeavours to ensure that different skill sets are represented. The website invites anyone interested in becoming a Trustee to apply to the chair.
New Trustees are sent a list of the other Trustees and contact details, a copy of the Deed issued by the Charity Commission when HCNT became a Charitable Incorporated Organisation, and a copy of the most recent accounts and minutes. It is suggested that they log onto the Charity Commission's web site to look at the advice to Trustees under CC3 and they are invited to visit Rosemary House.
Page 4 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
TRUSTEES' REPORT for the Year ended 31 March 2025
REVIEW OF TRANSACTIONS AND FINANCIAL POSITION OF THE TRUST
The Charity prepares a budget before the start of each financial year with the intention of broadly matching current income against current expenditure. However, variations do occur due to cash flow and other issues which are reported at each meeting of the Executive Committee. In the year to 31 March 2025, the surplus (see page 17) amounted to £65,032 against a deficit of £46,864 in the previous year.
During the year under review the net general assets of the Trust increased by £63,205 to £1,134,069 (2024: increased by £1,413). The increase included a decrease in the Grants expenses of £97,029.
Investment and interest income was £44,697 (2024: £42,428) for the year, with rental income of £59,440 (2024: £55,209). Direct charitable expenditure for the year was £37,892 (2024: £143,371), with overhead support costs being £1,213 (2024: £1,131).
ASSETS AND OBLIGATIONS
The net assets of the Charity are available and adequate to fulfil the obligations of the Charity.
Page 5 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
RESERVES POLICY, STRATEGIC AIMS, OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS
As required by the 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 (SORP FRS 102 updated January 2019)
The HCNC holds cash in accounts operated by Lloyds and CCLA in order to spread risk. Each account is covered by the bank's guarantee (currently £85,000) to protect depositors from loss in the event of bankruptcy.
In addition to the provision of subsidised accommodation to community nurses, the HCNC uses its income for the benefit of community nurses in Hertfordshire by awarding grants. Larger awards aimed at improving the delivery of community nursing care to Hertfordshire's patients; individual community nurses are supported with awards for postgraduate education; and this year the HCNC, working with the Queens Nursing Institute, awarded one hardship award for an individual community nurse facing financial difficulties. These awards benefit the wider community in Hertfordshire by providing help to all community nurses working in the county.
| During the year to 31 March 2025, the following grants were paid: | During the year to 31 March 2025, the following grants were paid: |
|---|---|
| Educational Grants | £6,999 |
| Welfare Grants | £400 |
| Major Grants - PhD Studentship (UH) | £25,162 |
| Leadership Grants | £12,000 |
| MSC Grants | £2,787 |
| TOTAL | £47,348 |
Whilst as per the strategy small Education and Research and Welfare grants would continue to be made (in a way that enables the Charity to monitor the extent to which they are effective), the bulk of the Charity's resources available for Education and Research grants will be used to fund fewer, but larger scholarships, which are properly managed and in respect of which longer term value for money can be assessed. In this connection, funding continues to support two programmes of study both based at the University of Hertfordshire.
Programme One is being undertaken in collaboration with Hertfordshire Community Nurses Trust (HCT). This supports students each of whom are already qualified as Specialist Community Nurses or Specialist Community Public Health Nurses to complete a 'top-up" programme from Post-Graduate Diploma to Master of Science. HCNC provide matched funding (with HCT) for the students to enter the two-year programme. The total cost to HCNC for 12 students to undertake this programme is circa £19,440 (plus anticipated annual fees increments) and was accrued in the prior year.
Programme Two is to support a single student to complete a PhD at the University of Hertfordshire by completing either a full-time course of 39 months, or a part time course over five-years. The approximate estimated cost of the course will be of the order of £77,000 (but not allowing for studentship/fees increments - to be set by UKRI/UH at an organisational level). This was accrued in the prior year.
Total funds at 31 March 2025 were £1,134,069 (see page 10). The Charity plans to maintain cash balances equivalent to at least one year's expenditure.
Page 6 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
STATEMENT OF TRUSTEES RESPONSIBILITIES
The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of the Charity's affairs and of its results for the year.
In preparing those financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements and whether the financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Charities":
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue to operate.
The Trustees are responsible for:
keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity;
safeguarding the assets of the Charity and hence for taking reasonable steps for prevention and detection of fraud and other irregularities.
Signed on behalf of the Trustees:
Approved on: September 10, 2025
Page 7 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
EXAMINER'S REPORT TO THE TRUSTEES OF THE HERTFORDSHIRE COMMUNITY NURSES CHARITY
I have reviewed the financial statements set out on pages 8-13 which have been prepared under the accounting policies set out in note 1.
Respective responsibilities of trustees and examiner
The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts (under section 43 of the Act)
-
To follow the procedures laid down in the General Directions given by the Charity Commission(under section 43(7)(b) of the Act); and
-
To state whether particular matters have come to my attention
Basis of the independent examiner's report
My examination was carried out in accordance with, the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In the course of my examination, no matter has come to my attention
(1) which gives me reasonable cause to believe that, in any material respect, the trustees have not met the requirements to ensure that:
-
proper accounting records are kept (in accordance with section 41 of the 1993 Act); and
-
accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Amit Bansal FCA Accountants For Good Ltd Chartered Forensic Accountant Iveco House Station Road WATFORD WD17 1ET
Dated 10 September 2025
Page 8 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
HERTFORDSHIRE COMMUNITY NURSES CHARITY
STATEMENT OF FINANCIAL ACTIVITIES AS AT 31 MARCH 2025
| Note INCOMING RESOURCES Rental Income Investment Income 4 Deposit Interest: -COIF 4 -Virgin Money 4 Donation 4 Total Income Resources RESOURCES EXPENDED Direct Charitable Expenditure Housing Activities: Property Management Property Maintenance Non-housing Activities: Gratuities and grants Provision for major grants 9 Other Expenditure Management - Housing - Non Housing Total Resources Expended Net incoming / Outgoing Resources Unrealised Gains/Losses(-) on Investment Assets 7 Movement in Funds Funds Balances brought forward 1st April 2024 Fund Balances carried forward 31st March 2025 |
Unrestricted General £ 59,440 42,548 1,124 - 1,025 104,137 10,123 8,320 19,448 - 37,892 607 607 1,213 39,105 65,032 1,827 - 63,205 1,070,864 1,134,069 |
Total 2025 £ 59,440 42,548 1,124 - 1,025 104,137 10,123 8,320 19,448 - 37,892 607 607 1,213 39,105 65,032 1,827 - 63,205 1,070,864 1,134,069 |
Total 2024 £ 55,209 41,565 658 205 - 97,637 10,722 16,171 116,477 - 143,371 500 631 1,131 144,502 46,864 - 28,658 18,207 - 1,089,071 1,070,864 |
|||
|---|---|---|---|---|---|---|
The Trust has no recognised gains or losses other than those dealt with in the Statement of Financial Activities. The notes on pages 10 to 13 form part of these financial statements.
Page 9 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
HERTFORDSHIRE COMMUNITY NURSES CHARITY
BALANCE SHEET
| AS AT 31 MARCH 2025 | AS AT 31 MARCH 2025 | AS AT 31 MARCH 2025 | ||||
|---|---|---|---|---|---|---|
| Note | 2025 | 2024 | ||||
| £ | £ | £ | £ | |||
| FIXED ASSETS | ||||||
| Tangible fixed assets | ||||||
| Housing Properties | 6 | 115,658 | 115,658 | |||
| Less: Social Housing Grant | 1c | 69,494 - |
46,164 | 69,494 - |
46,164 | |
| Investments | 7 | 916,515 | 918,342 | |||
| CURRENT ASSETS | 962,679 | 964,506 | ||||
| Debtors | - | - | ||||
| Prepayment | - | - | ||||
| Cash at bank and in hand | 233,050 | 185,604 | ||||
| Creditors: Amounts falling due | 233,050 | 185,604 | ||||
| within one year | 8 | 61,658 | 79,245 | |||
| NET CURRENT ASSETS | 171,392 | 106,360 | ||||
| Creditors: Amounts falling due after | ||||||
| more than one year | - | - | ||||
| TOTAL ASSETS LESS | ||||||
| CURRENT LIABILITIES | 1,134,070 | 1,070,864 | ||||
| REPRESENTED BY: | ||||||
| Unrestricted funds | ||||||
| General | 1,134,069 | 1,070,864 | ||||
| 1,134,069 | 1,070,864 | |||||
| Approved by the Trustees Signed on behalf of the Trustees |
[Sey | Signed by: [SeyRichardsow. BA765579577648B... |
sow. |
9/18/2025
Dated:
The notes on pages 11 to 13 form part of the financial statements.
Page 10 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
HERTFORDSHIRE COMMUNITY NURSES CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
1) ACCOUNTING POLICIES
- a) Basis of Accounting
The financial statements are prepared on the historical cost convention as modified by the revaluation of fixed asset investments and in accordance with approved accounting standards and the Statement of Recommended Practice "Accounting by Charities"
- b) Fixed Assets and Depreciation
Tangible fixed assets, except housing properties, are stated at cost less accumulated depreciation. Depreciation is charged on a straight line basis over the expected economic useful lives of the assets at the following annual rates:
Plant machinery and fixtures 25%
Depreciation is not provided on housing properties on the grounds that it would be immaterial (either because of the length of the estimated remaining useful economic life or because the estimated residual value of the assets is not materially different from the carrying amount of the asset).
- c) Social Housing Grant
Where developments have been financed wholly or partly by a housing association grant the cost of those developments has been reduced by the amount of the grant received. Grants received for general revenue purposes are credited to income in the year in which they are received.
d) Value Added Tax
All amounts in the financial statements are shown inclusive of Value Added Tax, as the charity is not VAT registered.
e) Investments
Investments are stated at market value as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposal throughout the year.
2) CHARITABLE STATUS
The Trust is a registered charity (registration number 1158593) and in consequence it is exempt from taxation on income arising from and expended on its charitable activities.
Page 11 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
HERTFORDSHIRE COMMUNITY NURSES' CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
3) HOUSING UNITS
The average number of Housing Accommodation Units was 10 (2024: 10).
4) INTEREST RECEIVABLE AND OTHER INCOME
| Bank and Building Society Deposits Listed Dividends and interest (gross) Other interest receivable Donations Received MANAGEMENT AND ADMINISTRATION An analysis of Management and Administration costs is a Accountancy fees Property management fees Miscellaneous Trustees received no remuneration for their work, and no Average number of employees was Nil (2024: Nil). FIXED ASSETS As at 1 April 2024 Additions As at 31 March 2025 Depreciation As at1 April 2024 Charge for the year As at 31 March 2025 Net Book Value 31st March 2025 31st March 2024 |
2025 £ - 42,548 1,124 1,025 44,697 s follows: 2025 £ 1,213 3,600 - 4,813 reimbursed expenses (2024 £nil). Freehold Fixtures & Housing Properties Equipment held for letting £ £ 115,658 4,120 - - 115,658 £ 4,120 £ - - - - - £ - £ 115,658 £ 4,120 £ 115,658 £ 4,120 £ |
2024 £ 205 41,565 658 - 42,428 2024 £ 1,051 3,600 80 4,731 Total £ 119,778 - 119,778 £ - - - £ 119,778 £ 119,778 £ |
|
|---|---|---|---|
5) MANAGEMENT AND ADMINISTRATION
6) FIXED ASSETS
The freehold land and buildings are used for direct charitable purposes.
Page 12 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
HERTFORDSHIRE COMMUNITY NURSES' CHARITY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
7) INVESTMENTS
| Listed UK investments: Market value at 1st April Disposals Additions Change in market value Value as at 31st March Original cost of listed investments The breakdown of investments held at the year end is shown on page 15. CREDITORS: Amounts falling due within one year Accounts Payable Donations payable Accruals |
2025 £ 918,342 - - 1,827 - 916,515 307,075 2025 £ 11,500 49,158 1,000 61,658 |
2024 £ 889,684 - - 28,658 918,342 307,075 2024 £ 500 77,444 1,301 79,245 |
|
|---|---|---|---|
8) CREDITORS: Amounts falling due within one year
Page 13 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
INFORMATION FOR
MANAGEMENT PURPOSES
Page 14 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
HERTFORDSHIRE COMMUNITY NURSES CHARITY
YEAR ENDED 31 MARCH 2025
| INVESTMENTS Narrower Range 41,192 BLK Charities UK Bond Fund at Fund - A Income 142.4274p Units Wider Range 29,621 M & G Charifund at 15.1830 Income Units 16,730 Charities Official at Investment Fund 20.3418 Income Units 29,569 Charities Official at Investment Fund 2.9325 Global Equity TOTAL INVESTMENT TOTAL INVESTMENT INCOME Prior year |
Cost £ 50,070 60,582 120,276 76,147 307,075 |
Market Value 31.03.2025 £ 58,669 449,739 325,905 82,202 916,515 918,342 |
Gross Income £ 1,236 26,807 12,447 2,058 42,547 41,425 |
|---|---|---|---|
Page 15 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
HERTFORDSHIRE COMMUNITY NURSES CHARITY
GENERAL INCOME AND EXPENDITURE ACCOUNT
(Non-housing Activities)
FOR THE YEAR ENDED 31 MARCH 2025
| INCOME £ Investment income (gross) Virgin Money Donations Interest EXPENDITURE Administration Miscellaneous - Accountancy fees 607 Website costs - Grants Course fees and expenses 6,698 Major Grants - PhD Studentship (UH) 598 Alarm monitoring fee 527 Secretary Fees 160 Leadership Grants 12,000 MSC Grants 935 - Welfare Grants 400 Surplus before exceptional items Surplus Transfer surplus from Rosemary House account Total Surplus / Deficit |
2025 £ £ 42,548 - 1,025 1,124 44,697 80 551 607 - 44,090 11,088 73,305 480 - 500 28,805 2,300 19,448 24,642 24,642 40,390 65,032 |
2024 £ 41,565 205 - 658 42,428 631 41,797 116,477 74,680 - 74,680 - 27,816 46,864 - |
||
|---|---|---|---|---|
Page 16 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
HERTFORDSHIRE COMMUNITY NURSES CHARITY
ROSEMARY HOUSE
PROPERTY REVENUE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| INCOME Rent receivable Interest received EXPENDITURE Management Insurance Cleaning and Sundries Council tax & utilities Gardening Administration Accountancy fees Maintenance Current repairs Major repairs SURPLUS/DEFICIT |
£ 3,600 2,704 954 - 2,865 607 8,320 - |
2025 £ 59,440 - 59,440 10,123 - 607 - 8,320 - 40,390 |
£ 3,600 2,503 1,623 196 2,800 500 7,448 8,724 |
2024 £ 55,209 - 55,209 10,722 - 500 - 16,171 - 27,816 |
||
|---|---|---|---|---|---|---|
Page 17 of 18
Docusign Envelope ID: C9E9B56D-001D-426A-819A-C4F9529BEDB7
HERTFORDSHIRE COMMUNITY NURSES CHARITY
GENERAL INFORMATION FOR THE YEAR ENDED 31 MARCH 2025
PRINCIPAL ADVISERS
BANKERS Lloyds Bank plc PO Box 1000 BX1 1LT
PROPERTY MANAGERS County Lettings 38 High Street Ware Hertfordshire SG12 9BY
REPORTING ACCOUNTANT Amit Bansal FCA Accountant For Good Ltd Chartered Forensic Accountant Iveco House Station Road WATFORD WD17 1ET
Page 18 of 18