Charity number.. 1160941 FRIENDS OF THE FRIARAGE UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Armstrongwatson, Accountants, Business & Financial Advisers FRIENDS OF THE FRIARAGE CONTENTS Page Roforon¢o and Admlnl$tr4tiv¢ Dolalls of th• Charilabl• In¢orpor4tod oryanlsatlon. Its Trust888 and Advisors Twstee$' R•port Indepondent Examlnerfs Report Statement of Financial Activities Balance Shggt Not•8 to thè Flnanclal Statsmtnts 8-22 FRIENDS OF THE FRIARAGE REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE INCORPORATED ORGANISATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Trustees S Watson, Co Chaimian Dr A Walters. Co Chairman Prof M Bramble. Trustee D Brearley. Trustee S Lamb, Trustee J Dixon, Tnjstee S Jamieson, Treasurer (appointed 1 October 20231 D Jemyn, Trustee Iresigned 1 September 20231 J Greenwood. Trustee Iresigned 19 September 20231 A C Baker. Trustee I￿$1￿ned 21 Apnl 20221 J Scribbins, Trustee lappointed 22 September 2023 L Proud, Trustee K Mel¢alfe. Trustee Charity rggl$tgrgd number 1160941 PrIncI￿1 offlc• Room 47, Admin 8uilding Friarage Hospital Northallerton North Yorkshire DL6 1JG Accountsnts Armstrong Watson LLP Chartered Accountsnls York House Thomfield Business Park Northallerton North Yorkshire DL6 2XQ Page 1 FRIENDS OF THE FRIARAGE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees present their annual report together wth the financial stslemenls of the charitsble incorporated organisalion Friends of the Friarage for the period 1 April 2022 to 31 Mar¢h 2023. The Trustees ¢onfirm that the Annual Report and financial statements of the chantable in¢orrKirated organisation comply wth the current statutory requirements, the requirements of the charrtable incorporated organisats'on's governing document and the provisions of the Statement of Recommended Practice ISORPI, applicable to charities preparing their accoun15 in accordance ￿th the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191. Objectives and activities a. Policios and obj8ctives The object of the charity is lo relieve patients and fomier patients of the Friarage Hospitsl and Health Cenlres in the Hambleton and Richmondshire district. who are sick. convalescent. disabled. infirm and. generally. lo support the ¢haritable work$ of the $aid Friarage Ho$pitsl and the Healih Centres in the Hambleton and Richmondshire district. b. Actlvltl•s und•rtak•n to a¢hl•vo obJKtIv•s This is achieved by providing a shop serv7ce for the benefit of staff, patients and visitors lo the hospital,. the provision of gifts lo patients and the purchase of essential equipment and facilities as agreèd wrth thè hospital trusL Achlovem8nts and p•rformanc• a. Achlevements During the year the trustees continued with the strategy lo invest the majorty of the available funds in a number of designated projects for the benefit of hospitsl patients and the local community. This year saw the completion of planned expenditure on the Strive Academic cent￿ and the start of discussions wlh the hospital trust lo explore where priorfties lie for investrnent to improve health care al the Friarage Hospitsl in the light of major capital developments on site. Flnanclal rovlew a. Going concorn Followng the restriction on activth'es caused by the Cowd pandemic, the Charity was able to return to business as usual. The shop takings rose steadily as footlall increased. Local supporters demonstrated their support wth a wide range of fundraising activities and the Charity ran a succe5sbJl fundraising ball. The Trustees therefore condude that the Charity has sufficient resources to continue in operab'onal existence for the foreseeable future and continue to adopt the going ￿nCern basis in preparing the financial statements. Page 2 FRIENDS OF THE FRIARAGE TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 b. Reserves policy The provision of fijnds to care for patients and to provide items for specific projects is undertaken when the needs are identified by the Heatth Trust. The rvaerves p￿iCY therefore must be consistent with smoothing the peaks and trough5 of income and expenditure. The Trustees fed that it is prudent to hold free reserves to cover known liabilth'es, potential redundancies and gther costs that may occur in the wnding up of the charity and have identified this sum at £83,500 . As at 31 March 2023, free reserves (unrestricted general fund less tangible fixed assets and stock) of the charity are £471,155 and are above the required reserves level. The Trustees allocated al least £252.262 in the budget for 202>24 for expenditure on items identrfied and requested by departments wthin the Hospital. The 2024-25 budget figure is £200.000 wth an in year ad hoc of £50,000. ¢. Prlnclpal fundlng Apart Irorn the income generated by the shop. the pnncip31 funding sources are those from donations and legacies from the local communty. This by its very nature varies from year lo year. Structurè. govom*nc• and manag•mènt 4. Constltutlon Friends of the Friarage is a Charitsble Inc¢)rporale Organisation ICIOI and is constituted under a Trust Deed wlh registration number 1160941. b. M•thod8 of appolntm•nt or ol•¢tion of Tru$ts•s Members of the management committee vtho are Trustees for the purpose of Charity Law, who have served during the period are set out in the Trustees Report. The committee is elected by Trustees of the Friends and each year one third retire and may be pul forward for rfrelection. New Trustees are actively encoura9ed from the local communrty. c. Flnancial risk managemont The Board of Tnjslees reintroduced meetings in person in 2022-23 after a period of online virtual meetings. Our financial position is reviewed via dedicated finance committee meets'ngs and regular meetings of the full Board of Trustees. In summer 2023 we held a strategy planning day with all trustees. This induded a robust analysis of our current financial p05rtion and intended expenditure. Following a review of income streams in the recent past we have adopted a cautious appToach arml reduced some futuTe income predith"ons. Our intended expenditure 15 wthin our available fvnds. The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitl9ate our exposure lo the major risks. Page 3 FRIENDS OF THE FRIARAGE TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Plan5 for future periods The Charity plans to continue its present activities in the future. Funds are available to meet fijture needs where these have been idenb"fied. In 2023-24 the Charty wll conbnue to work with the Hospitsl Trust lo develop and implement an agreed investment plan. Targeted fundraising is being ex￿ored as we seek to develop a partnership with a professional fundraising consultancy. Immediate plans indude a large-scale fundraising challenge for specialist eye surgery equipment while maintaining a range of smaller opportunfo'es that appeal to local community fundraisers. Statsm•nt of Tru$te•$' wponslbilities The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordance wlh applicable law and United Kingdom Accounb"ng Standards (Unrted Kingdom Generally A¢eepted Accounting Praclicel. The law applicable lo charitie5 in England & Wales require5 the Trustees lo prepare financial statemen15 for each financial year bthich give a true and fair View of Ihe state ol affairs of the charitsble incorporated organisalion and of its incomin9 resources and application of fesovrces. including its income and expenditure, for that period. In preparing these financ￿1 slatemenls, the Trustees are requiied lo.. select suitable accounting policies and then apply them consistenty., observe the methods and princi￿e5 of the Charities SORP IFRS 1021., make judgments and ac¢ounling eslimales that are reasonable and prudent". stsle whether appli¢able UK A¢counling Slandard$ IFRS 1021 have been followed. Subject lo any material departures disclosed ond explained in the financial slalemenls., prepare the financial slalemenls on the going concem basis unless il 1$ inappropriate lo presume that the charitable incorporated organisaknon wll contsnue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable incorpcsraled organisab'on's transactions and disclose with reasonable accuracy at any lime the financial position of the ¢haritsble in¢orporate¢J organisation and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provision5 of the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable incorporated organisation and hence for taking reasonable Ste￿ for the prevention and detection of fraud and other Irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by. S Jamièson Treasurer Dale.. Page 4 FRIENDS OF THE FRIARAGE INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023 Independent examiner's report to the Trustees of Friends of the Friarage {Ihe charitable In¢orpoTatsd organisation'l I report to the charty Trustees on my examination of the accounts of the charitable incorporated organisalion for the year ended 31 March 2023. Rasponsibiliti8s and Basis of Report As the Trustees of the charitsble incorporated organisation you are responsible for the p￿paratiOn of the accounts in a¢¢ordan¢e wth the requirements of the Chantie$ Act 2011 Ilhe 2011 Act'l. I report in respect of my e¥aminabon of the charitsble incorporated organisation's accounts carried out under section 145 of the 2011 Act and In carrying ovl my examination I have followed the appI￿able Directions given by the Charity Commission under Section 14515llbl of the 2011 A¢L Indèpendent Examlnerfs Statement This report Is made solely Its the charitable Incorw)rated organisalion's Trustees. as a body. in accordance wlh Part 4 of the Charities (Accounts and Reports) Regulation$ 2008. My work has been undertaken so that I might stste to the charitable incorporated organisation's Trustees those matters l am required to stste to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable incorporated organisation and the charitable incorporated erganisation's Trustees as a bo¢Jy. for my I￿rk or for this report. Signed,, Dated." 22101r2024 Simon Turner IFCCAI Ann$lrong Watson LLP Chartered Accountants Northallerton Page S FRIENDS OF THE FRIARAGE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Income from: Donation5 and legacies Other trading activ￿e$ Investments 44.577 171A15 $43 44.577 171,415 $43 153,726 117,666 141 Totsl In¢om• 216.535 216,535 271,533 Expendlture on: Raising funds Charitable aclivrtj'es 187.650 108.948 187,650 110,429 126,188 564,937 Total oxp•ndltur• 296.598 1,481 298,079 691,125 Net oxpenditure before net Ilossesllgalns on inv•stm•nts Nel Ilossesllgains on investments 180.063) 16,140) 11,4811 181,$441 16,1401 1419,5921 12,690 Not movèmènt In funds 186.203) 11,4811 187,6841 1406,9021 R0concllla￿On of fund•: Totsl funds brought forward Nel movement in funds $21.823 186,203) 8,199 11,4811 530,022 187,6841 936,924 1406,9021 Total lund8 carri•d forward 435.620 6,718 442,338 530,022 The Stslemenl of Financial Acts'vrties includes all gains and losses recognised in the year. The notes on pages 8 10 22 forni part of these ffinancial ststemenls. Page 6 FRIENDS OF THE FRIARAGE BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Mote Flx•d assets Tangible assets Investments 7,137 223.096 8,397 229,237 12 230.233 237,634 Currnnt assets Stocks Debtors Cash at bank and in hand 13 14 12.182 8,740 2,660 290,018 241.297 253,479 301,41B Creditors.. amounts falling due wthin one year 15 {41.3741 19,0301 Not current a$8•t8 212.10$ 292,388 Totsl 08$gt$ les$ curr•nl1Sabilitio8 442,338 530,022 Total n•t ass•t¥ 442,338 530,022 Charlty funds Reslricled funds Unrestricted funds 16 16 6,718 435,620 8,199 521,823 Total lund8 442.338 530,022 The financial statements v￿￿ approved and aulhorised for issue by the Trustees and signed on their behalf by,. S Jamieson Troasurer Date.. The notes on pages 8 10 22 fom) part of these financial ststemenls. Page 7 FRIENDS OF THE FRIARAGE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies 1.1 Basis of praparation of financial stat8m8nls The financial statements have been prepared in accordance the Charities SORP IFRS 1021- Accounting and Rew)rting by Charrties". Statement of Recommended Practice applicable lo charities preparing their accounts in accordance vth the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffe¢live 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Charib'es Act 2011. Friends of the Friarage meets the definthon of a public benefft entity under FRS 102. Assets and liabilities are initially recogni5ed at historical cost or transaction value unless olhewse slated in the relevant accountsng policy. 1.2 Fund accounting General fiJnds are unrestricted funds Nthich are available for use at the discreb'on of the Trustees in furtherance of the general objecbves of the charrtable incorporated organisats.on and which have not been designated for other purposes. Restricted lund$ are fund$ vthi¢h are to be used in a¢¢ordan¢e wth spe¢ifi¢ restrictions imposed by donors or which have been raised by the charitable incorporated or9anisation for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each reslricled lund is Sel out In the notes to the financial statements. Investrnenl income, gains and losses are allocated lo the appropriate fund. 1.3 Income All income is recognised once the charitable Incorporated organisation has enlrtlement lo the income, il is probable that the income will be receive