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2024-12-31-accounts

Charity Registration No. 1161883

Company Registration No. 09548951 (England and Wales)

UCH LONDON NURSES' CHARITY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 DECEMBER 2024

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Legal & Administrative Information

Trustees

Professor H. Allan (Chair) Dr Anne Arber Mrs. Janet Doyle Blunden Mrs. Pat Edmund Dr W Knibb Dr Alison Finch Mrs. Lesley Anne Knowles Ms. Janet Williams

Charity Number 1161883 Company Number 09548951 Principal Address UCH London Nurses' Charity University College London Hospitals NHS Foundation Trust Trust Headquarters 2[nd] Floor Central 250 Euston Road London NW1 2PG Independent Examiner Shruti Soni FCCA FCIE Shruti Soni Ltd Chartered Certified Accountants 117A St. John’s Hill Sevenoaks TN13 3PE

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Contents

Page
Trustees’ report 4 - 8
Independent examiner’s report 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 - 17

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Trustees’ Report

The trustees, who are also directors of the Company for the purpose of the Companies Act, present their annual report and financial statements for the year ended 31 December 2024. This is also a Directors’ Report as required by Companies Act 2006.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 Charitable Company's governing document, the Companies Act 2006 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) (effective 1 January 2019)”.

Objectives and Activities

The objects of the charity are for the public benefit: (a) to advance the health of patients being cared for in hospital and in the community in such ways as the trustees think fit including by: (i) advancing the education of associate members by providing grants and bursaries to enable associate members to attend training courses, workshops, conferences and seminars relating to their areas of practice; (ii) advancing the education of associate members by providing grants and bursaries to enable associate members to undertake research and publish and disseminate the results of any such research; (iii) advancing education by providing grants to Florence Nightingale scholars at the Florence Nightingale Foundation (RCN: 229229) to undertake research and publish and disseminate the results of any such research; and (iv) providing a network to assist associate members to communicate with each other in order to share: best practice; latest developments in patient care; feedback from attending training courses, workshops, conferences and seminars paid for by the charity; and results of research undertaken. (b)the relief of poverty and financial hardship among associate members of the charity by providing grants, items and services to those in need.

Achievements and Performance

We have recruited one new trustee in 2024. We have 10 trustees, although 3 are to resign in 2025. New advertisements for trustees and volunteers are posted on Facebook and onto the charity’s website.

The Charity comprises three funds: i) General Fund and PayPal account, ii) Educational Fund and iii) Benevolent Fund, the latter two being restricted funds. In 2024 the General Fund served to pay the administrative costs of the Charity that support the charitable activities, such as the production and distribution of the annual magazine to all Associate Members, upkeep and development of the website, and travel expenses for volunteers engaged in administrative activity. The Charity also raises funds and collects membership subscriptions and donations, which together with the returns from investments, make up the income of the Charity. It distributes funds to a small number of nurses in financial need or who require support for their education and professional development. In 2024, £1,810 was awarded from the Education Fund, and the Benevolent Fund provided assistance amounting to £2,009 to Associate Members.

The Charity’s membership has seen a slight increase in Associate Members, from some 992 at the start of the year to about 1,008 by the year end. We recruit new members through University College London Hospital Trust (UCLH) directly as well as via Facebook and post, and enquiries via the website regarding the education and benevolent funds from new Associate Members and non-members continue. The Charity advertises information about our funds in UCLH’s own media. We held two membership events in Spring 2024 and Autumn 2024. Attendance at both was down on previous years.

Older Associate Members are kept in contact with the Charity by telephone, birthday and Christmas cards. A gift voucher is included with a birthday card on significant birthdays from the age of 80 years onwards. The Benevolent Fund Committee undertakes this contact work.

The charity continues to work closely with senior nurse leaders at UCLH to develop relationships to ensure that the work of the Charity is known to a wider audience of potential members.

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During the year a detailed, in-depth strategic review commissioned by Trustees in 2023, and led by Trustee Janet Doyle-Blunden, was concluded. The process had involved consulting with current and past Trustees, Associate Members and a wide range of other stakeholders including the few similar remaining London Nurses Charities/Leagues. Associate Members were made aware of the work through the Annual Magazine and at the Associate Members’ events held in October 2023 and April 2024. The summative findings were presented to the Board in October 2024 followed by the development of an Option Appraisal on the long-term future of the Charity. As a result, the decision was taken to make a formal proposal to the Board Meeting in January 2025 to work towards closure over the next few years. This is because we fail to attract sufficient new Associate Members, trustees and volunteers to ensure the future viability of the Charity and these trends will continue due to longstanding national changes to nurse education and other external factors. It is intended to present the strategic review findings and the implications to the ACM in April 2025. This will be communicated to all Associate Members in 2025 via the 2025 charity magazine. Preparation of a plan for the transfer of our funds to suitable charitable organisations with compatible objects is under way, with the assistance of our legal advisors.

Statement on Public Benefit

In shaping our objectives for the year and planning our activities, the trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and have complied with section 4 of the Charities Act 2011.

Financial review

The financial results shown in succeeding pages show that the General Fund and PayPal Fund had net income of £4,132 (2023: surplus of £7,988) before transfers, but including an unrealised gain on investments of £8,167 (2023: gain of £648).

The Restricted Funds had a surplus of £21,504 (2023: surplus of £4,089) before transfers, which includes unrealised gains on investments as noted below.

The Education Investment Fund had a value of £44,346 (2023: £43,149) and an unrealised gain on investments of £1,197 (2023: gain of £9,535).

The Benevolent Investment Fund had a value of £200,848 (2023: £197,207) and an unrealised profit on investments of £3,641 (2023: loss of £13,933).

At 31 December 2024 the Charity's total investments had a market value of £436,228 (2023: £423,223). The total charity fund at the year's end was £503,690, of which £299,282 was restricted and £204,408 was unrestricted.

Further details of the investments together with market valuation at 31 December 2024 are shown in notes 7 & 8.

The Trustees considered that the funds held at the year-end were sufficient to support the work of UCH London Nurses' Charity in 2025 because planned expenditure is well within the charitable company's level of resources. The Trustees aim to ensure that the Charity has the resources to continue with the current operating model in respect of regular activities and one-off requests for help or assistance.

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At the balance sheet date the Trustees consider that the Charity's reserves:

The trustees consider that funds of £20,000 will be enough to meet expected needs for the twelve months from the date of report, and that the charity has adequate reserves to meet that need.

Funds are invested cautiously so as to protect their value but also with the aim of maximising income to be applied in the furtherance of the Charity's objectives. The investments held by the Charity are in interest-earning term cash deposits and investment funds operated by established and reputable investment managers. Investments are not made in private companies.

Plans for the future

In the last nine years, awards from both the Educational and Benevolent Funds have remained consistent although below what we could afford to pay out. In 2024 we had more enquiries about both awards via the website, following the rewriting of our award criteria and application forms, and the dissemination of information about our awards more widely within UCLH. This increase in enquiries did not a) translate to applications, and b) increase significantly the amounts awarded from ether restricted fund. The Trustees agreed to commission a strategic review by one of our trustees to plan for our activities 2024 forwards.

The most significant plan for the future of the Charity follows from this strategic review and the decision to close the charity as detailed above. The charity will continue to be run to meet its Objects until all steps of the plan have been designed and implemented and the charity’s funds transferred to other charitable organisations that are able to continue the core activities for the benefit of our beneficiaries.

The production of the annual magazine, the spring and autumn meetings continue to provide opportunities for sharing and learning about nursing practice, the website, our presence at other educational events at UCLH may attract new members to the Charity. These activities will continue in 2025, managed by the Trustees and Associate Members, although new Associate Members coming forward are decreasing by all routes.

Structure, governance and management

The Charitable Company is a company limited by guarantee.

The Trustees, who are also the Directors for the purpose of company law, and who served during the year and to the date of this report were:

Professor H. Allan (Chair) Dr Anne Arber Mrs Janet Doyle Blunden Mrs Pat Edmund Dr Alison Finch Dr W Knibb (Deputy Treasurer) Mrs. Lesley Anne Knowles Ms Janet Williams

appointed 1 January 2019 appointed 31 July 2022 appointed 15 March 2023 appointed 20 December 2019 appointed 5 April 2025 appointed 24 April 2019 appointed 14 August 2024 appointed 31 October 2020

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Mr Andrew Baudains Dr Pam Page Professor T. Wiseman

appointed 14 July 2021 (Resigned 31 December 2024) appointed 14 July 2021 (Resigned 5 April 2025) appointed 1 January 2019 (Resigned 5 April 2025)

In accordance with the Articles, Associate Members may nominate other Associate Members to fill a vacancy amongst the Trustees. The Trustees will then consider which of the nominees to appoint to the vacancy on the basis of published criteria communicated to the associate members and in accordance with Charity Commission guidance on the appointment of charity trustees. Such criteria will ensure that the Trustees are appropriately balanced and possess the necessary skill sets required by the UCH London Nurses' Charity. Any person selected in this manner must sign a declaration of willingness to serve as a Trustee before being permitted to take part in any voting at any meeting of the Trustees New Trustees are given appropriate training to allow them to carry out their responsibilities in fulfilment of the objects of the Charity as set out in the Articles.

Trustee meetings continue to be held remotely every quarter. Post is sent to 250 Euston Road and forwarded by the Charity’s liaison role with UCLH trust to the Secretary to deal with. We have an administrative assistant who works with the Secretary and the Benevolent Fund committee to update associate members’ details, deaths recorded and new members. Volunteers are not required to travel into the office premises but can do so if they require a face-to-face meeting at 250 Euston Road. As above, sales are now online during the year and at the two face-to-face events. We continue to employ a website administrator to update the website. Trustees and volunteers are not remunerated for their work. Trustees and volunteers are entitled to reimbursement of travelling expenses incurred when undertaking Charity business.

The Trustees make the decisions for the Charitable Company in line with the Articles of Association.

Risk Assessment

The charity has conducted a risk assessment and has established a register, which will be updated annually. The register will have appropriate systems and procedures in place to mitigate the risks the charity faces. Such headings will be funding and risks, internal control risks, implementation procedures for transactions and projects, health and safety for staff, volunteers and clients.

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Statement of Trustees’ Responsibilities

The Trustees, who are also the Directors of UCH London Nurses' Charity for the purpose 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 which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these Financial Statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Trust's transactions and disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

The Trustees’ Report prepared by the Chair and deputy Treasurers was approved by the Trustees

helen allan

Professor H Allan (Chair) Dated: 14th Nov 2025

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Independent Examiner’s report

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2024 which are set out on pages 10 to 17.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Certified Chartered Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Shruti Soni FCCA ACIE Shruti Soni Ltd 117a St Johns Hill Sevenoaks TN13 3PL

Date 18/11/2025

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Statement of Financial Activity for the year ended 31 December 2024

----- Start of picture text -----
Unrestricted Restricted Funds Total Total
Funds 2024
2024 2024 2023
Notes £ £ £ £ (Restated)
Income from:
Donations and legacies 2 300 11,215 11,515 6,991
Charitable activities 3 4,131 676 4,807 6,424
Investments 4 - 9,893 9,893 15,217
Other Income 5 4,860 94 4,954 398
Total Income 9,291 21,878 31,169 29,029
Expenditure on:
Charitable activities 6 13,326 5,202 18,528 44,209
Net gains/(losses) on 7 8,167 4,838 13,005 (3,750)
investments
Net (outgoing)/incoming 4,132 21,514 25,646 (18,930)
resources before transfers
Gross transfers between funds - - - 0
Net movement in funds 4,132 21,514 25,646 (18,930)
Fund balances at 1/1/2024 200,276 277,768 478,044 496,973
Fund balances at 31/12/2024 204,408 299,282 503,690 478,044
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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Balance Sheet as at 31 December 2024

----- Start of picture text -----
2024 2023
£ £ £(Restated) £
(Restated)
Notes
Investments 8 436,228 423,224
Current assets
Stock 10 3,726 2,385
Debtors 9 - - -
Cash at bank and in hand 63,736 52,435
--------------- ---------------
67,462 54,820
Creditors: amounts falling 11 - -
due within one year ------------------ ----------------
Net current assets 67,462 54,820
-------------
Total assets less current 503,690 478,044
liabilities
Income funds 12
Restricted funds 299,282 277,768
Unrestricted funds 204,408 200,276
--------------
503,690 478,044
----- End of picture text -----

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The Trustees acknowledge their responsibility for complying with the requirements of the Act with respect to the accounting records and for the preparation of the accounts.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the Trustees on the

helen allan

Professor H Allan (Chair)

Dated: 14th Nov 2025

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Notes to the Financial Statements

1 Accounting policies

Company information

UCH London Nurses' Charity is a private company limited by guarantee, incorporated in England and Wales. The registered office is 2nd Floor Central, 250 Euston Road, London, NW1 2PG.

1.1 Accounting convention

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in pounds sterling which is the functional currency of the charity and rounded to the nearest £.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 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. The purposes and uses of the restricted funds are set out in note 11.

1.4 Income

Income is recognised when the Charitable Company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is more likely than not that income will be received.

Legacies are recognised on receipt or otherwise if the Charitable Company has been notified of an impending distribution, the amount is known, and receipt is more likely than not. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is accounted for on an accruals basis, inclusive of VAT which cannot be recovered. ‘Charitable Activities’ includes those costs which meet the objectives of the charitable company by relating directly to the advancement, support and education of religious and charitable groups. Governance costs are those incurred in meeting the statutory requirements of running the Charitable Company.

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1.6 Investments

Investments are shown at the mid-market value prevailing at the balance sheet date.

The investments are listed on a recognised stock exchange or held in common investment funds, unit trusts or other collective

1.7 Stocks

Stocks are stated at the lower of cost and net realisable value, after due regard for obsolete or slow moving items.

Net realisable value is the estimated selling price less all estimated costs to be incurred in marketing, selling and distribution.

2 Donations and legacies

Unrestricted funds Restricted funds Total 2024 Total 2023
£ £ £ £
Donations and 300 1,215 1,515 6,991
gifts
Legacies - 10,000 10,000
Totals 300 11,215 11,515 6,991

3 Charitable activities

2024 2023
£ £
ACM & Autumn lunch, raffle & sundry 4,807 6,424
Analysis by fund
Unrestricted fund 4,131 6,424
Restricted fund 676 -

4 Investments

Unrestricted funds Restricted funds Total 2024 Total 2023
2024 2024
£ £ £ £
Income from - 9,893 9,893 15,217
investments
Interest receivable - - - -
Totals - 9,893 9,893 15,217

13

Unrestricted funds Restricted funds Total 2024 Total 2023
2024 2024
£ £ £ £ (Restated)
5 Other income
Subscriptions 4,860 - 4,860 398
Sale of Goods - 94 94 -
Total 4,860 94 4,954 398
6 Charitable activities
2024 2023
Magazine production 757 3,908
Travel 673 377
Stationery 368 185
Postage 715 4,997
ACM 4,200 3,580
Sale goods 531
Direct charitable (ex Ed) 2,009 2,661
Autumn lunch 2,286 2,434
Sundry inc. website 2,103 1,148
Education inc. preceptees 4,346 1,625
Independent examination 200
PayPal fees 136 137
Admin inc. database 64
Storage 562
Bonds from Dora 22,000
Awayday 735
Totals 18,528 44,209
Analysis by fund
Unrestricted funds 13,326 8,182
Restricted funds 5,202 36,027

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7 Net gains/(losses) on investments

----- Start of picture text -----
Unrestricted Restricted Total Total
funds funds 2024 2023
£ £ £ £
Unrealised gain/(loss) on investments 8,167 4,838 13,005 (3,749)
Realised gain/(loss( on investments
Total 8,167 4,838 13,005
For 2023 648 (4,397) (3,749)
----- End of picture text -----

8 Investments

8 Investments
Listed investments
£
Cost or valuation
As at 1 January 2024 423,223
Valuation changes 13,005
At 31 December 2024 436,228
Carrying amount
At 31 December 2024 436,228
At 31 December 2023 423,223
9 Debtors
2024 2023
£ £
Amounts falling due within one 0 0
year:
Other debtors 0 0
10 Stocks
2024 2023
£ £
Goods for resale 3,726 2,385
11 Creditors: amounts falling due within one year
2024 2023
£ £
Accruals and deferred income 0 0

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12 Movement in Restricted Funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

----- Start of picture text -----
Balance at 1 Transfers Net income, Balance at 31
January 2024 gains & losses December 2024
£ £ £ £
Education 48,149 - 11,372 59,521
Benevolent 229,619 - 10,142 239,761
Totals 277,768 - 21,514 299,282
----- End of picture text -----

The Education Fund of the UCH London Nurses Charity was formerly known as the Rutter Memorial Fund in the UCH Nurses League and was set up in 1962 to assist nurses with grants for post qualifying education. This might take the form of a recognised course, a study programme or other educational project.

The Benevolent Fund was formerly known as the Dora Finch & Barbara Yule Benevolent Fund Trust in the UCH Nurses League. The objectives are to help members who are faced with financial hardship and distress, through accident, illness or some other cause. The Fund therefore gives assistance to those who have spent their lives providing care for others.

13 Analysis of net assets between funds

Unrestricted 2024 Restricted 2024 Total 2024 Total 2023
£ £ £ £
Fund balances at 31 December 2024 are
represented by:
Investments 191,035 245,193 436,228 423,224
Current assets/liabilities 13,373 54,089 67,462 54,820
Totals: 204,408 299,282 503,690 478,044

14 Prior Year adjustments

In the 2023 accounts, the following balances were misstated due to an error. The correct balances are presented below.

resented below.
Balances as at 31 December 2023 Incorrect balance (£) Correct Balance (£)
Cash at bank and in hand 61,343 52,435
Restricted funds 286,676 277,768
Restricted funds – Education 28,832 48,149
Restricted funds – Benevolent 208,783 229,619

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15 Related party transactions

The Directors, who are all considered Key Management, do not receive any remuneration, but are reimbursed for expenses in carrying out their duties. The breakdown between directors is as follows

Professor H. Allan (Chair) £656 (2023 £997)
Dr Anne Arber £25 (2023 Nil)
Mrs Janet Doyle Blunden £357 (2023 Nil)
Mrs. Lesley Anne Knowles £128 (2023 Nil)
Ms Janet Williams £153(2023 Nil)
Mr Andrew Baudains (resigned 31 December 2024) £122 (2023 Nil)
Dr Pam Page (resigned 5 April 2025) £105 (2023 Nil)

No donations were received from any of the directors during the year (2023: none).


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