**REGISTERED CHARITY NUMBER: 1170161**
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2024
for
Health Care Supply Association
Nigelmarks Ltd North Lodge South Horrington Wells Somerset BA5 3DZ
Health Care Supply Association
Contents of the Financial Statements for the Year Ended 31 March 2024
||Page|
|---|---|
|Report of the Trustees|1 to 3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Cash Flow Statement|6|
|Notes to the Cash Flow Statement|7|
|Notes to the Financial Statements|8 to 13|
Health Care Supply Association
Report of the Trustees for the Year Ended 31 March 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Association's purpose (principal activities) as set out in its constitution dated 1 November 2016 is to promote and protect good health for the public benefit by promoting the efficiency of the National Health Service (NHS) across the UK, through:
a) Education and training of purchasing and supply personnel and purchasing and supply management relating to its duties in supporting the delivery of healthcare services in order to support NHS stakeholders in delivering the best quality and most cost-efficient healthcare: and
b) Undertaking or commissioning and publishing the beneficial results of research or best practice case studies in related subjects.
In furtherance of the charity objectives, it may:
a) Facilitate a network for the sharing of knowledge and best practice.
b) Deliver education and learning events.
c) Improve quality, excellence, and cost efficiency.
- d) Consult with partners.
e) Act as the profession's principal advisor for national bodies.
The trustees review the aims and objectives each year. This review looks at what the charity achieved and the outcomes of its work in the previous period. The review helps us ensure our aim, objectives and activities remain focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in panning our future activities.
## **ACHIEVEMENT AND PERFORMANCE**
One of the charity's most successful features has been the Annual Conference. This was once again a well-attended and successful event. The Annual Conference has developed its content and reputation over the years and attracted a capacity attendance from members. Representatives from the major care supply companies from across the UK were also in attendance,
The charity also runs a summer school event for training its members.
## **FINANCIAL REVIEW**
## **Reserves policy**
The trustees have established a reserves policy of holding a minimum of £250,000 which is set aside as a deep reserve as part of its plans to provide long term support in furtherance of the charity objectives. The deep reserve held is part of the charity's 31 March 2024 unrestricted income fund balance of £597,458.
Page 1
Health Care Supply Association
Report of the Trustees for the Year Ended 31 March 2024
## **FINANCIAL REVIEW**
Income from all activities in the year to 31 March 2024 was £502,941 and expenditure totalled £435,716 which together with the gain of £23,211 on disposal of investments, resulted in a surplus for the year of £90,436 compared to a surplus of £20,748 in the year to 31 March 2023.
The income for the charity has increased year on year to reflect greater levels of activity and in particular the most successful Annual Conference in the history of the charity. Costs however are also higher than in previous years reflecting the trustees planned increase in support to members.
HCSA has a healthy Balance Sheet with reserves of £597,458 at 31 March 2024 which ensures the charity is financially strong and well placed to serve our members for the forthcoming year and into the future.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
HCSA is a charitable incorporated organisation registered with the Charities Commission.
There are 5 classifications of membership:
a) Full membership b) Honorary members c) Retired members d) Associate members e) Corporate members
The trustees manage the affairs of the HCSA and may for that purpose exercise all powers of the HCSA. There must be a minimum of three trustees and a maximum of twelve. At the first AGM all the trustees shall retire from office. At every subsequent AGM one-third of the trustees shall retire from office.
All trustees give their time voluntarily and receive no salaries from the charity. Any expenses reclaimed are set out in the notes to the accounts.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1170161
**Principal address** North Lodge South Horrington Wells Somerset BA5 3DZ
## **Trustees**
I M Turner M Roscrow MBE Prof N D Eaton FCIPS W Hall R G Waddell JP FCIPS S Walsh Mrs F Robinson
Page 2
Health Care Supply Association
Report of the Trustees for the Year Ended 31 March 2024
Approved by order of the board of trustees on 17 July 2024 and signed on its behalf by:
M Roscrow MBE - Trustee
Page 3
Health Care Supply Association
Statement of Financial Activities for the Year Ended 31 March 2024
|**2024**
**Unrestricted**
**funds**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
3
Conferences, seminars and training
486,885
Investment income
2
16,056
**Total**
502,941
**EXPENDITURE ON**
**Charitable activities**
4
Conferences, seminars and training
152,586
Other
283,130
**Total**
435,716
Net gains/(losses) on investments
23,211
**NET INCOME**
90,436
**RECONCILIATION OF FUNDS**
Total funds brought forward
507,022
**TOTAL FUNDS CARRIED FORWARD**
597,458|**2023**
**Total**
**funds**
**£**
370,010
3,676
373,686
128,486
210,706
339,192
(13,746)
20,748
486,274
507,022|
|---|---|
The notes form part of these financial statements
Page 4
Health Care Supply Association
## Balance Sheet 31 March 2024
|||**2024**|**2023**|
|---|---|---|---|
|||**Unrestricted**|**Total**|
|||**funds**|**funds**|
||**Notes**|**£**|**£**|
|**FIXED ASSETS**||||
|Investments|7|259,470|236,259|
|**CURRENT ASSETS**||||
|Debtors|8|267,215|243,082|
|Cash at bank||389,630|233,947|
|||656,845|477,029|
|**CREDITORS**||||
|Amounts falling due within one year|9|(318,857)|(206,266)|
|**NET CURRENT ASSETS**||337,988|270,763|
|**TOTAL ASSETS LESS CURRENT**||||
|**LIABILITIES**||597,458|507,022|
|**NET ASSETS**||597,458|507,022|
|**FUNDS**|10|||
|Unrestricted funds||597,458|507,022|
|**TOTAL FUNDS**||597,458|507,022|
The financial statements were approved by the Board of Trustees and authorised for issue on 17 July 2024 and were signed on its behalf by:
M Roscrow MBE - Trustee
I M Turner - Trustee
The notes form part of these financial statements
Page 5
Health Care Supply Association
Cash Flow Statement for the Year Ended 31 March 2024
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by/(used in) operating
activities
**Cash flows from investing activities**
Purchase of fixed asset investments
Interest received
Dividends received
Net cash provided by/(used in) investing activities
**Change in cash and cash**
**equivalents in the reporting**
**period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the**
**end of the reporting period**|**2024**
**£**
139,627
139,627
-
8,843
7,213
16,056
155,683
233,947
389,630|**2023**
**£**
(91,614)
(91,614)
(250,005)
15
3,661
(246,329)
(337,943)
571,890
233,947|
|---|---|---|
The notes form part of these financial statements
Page 6
Health Care Supply Association
Notes to the Cash Flow Statement for the Year Ended 31 March 2024
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income for the reporting period (as per the Statement**
**of Financial Activities)**
**Adjustments for:**
(Gain)/losses on investments
Interest received
Dividends received
Increase in debtors
Increase in creditors
**Net cash provided by/(used in) operations**|**2024**
**£**
90,436
(23,211)
(8,843)
(7,213)
(24,133)
112,591
139,627|**2023**
**£**
20,748
13,746
(15)
(3,661)
(204,995)
82,563
(91,614)|
|---|---|---|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
|**Net cash**
Cash at bank
**Total**|**At 1.4.23**
**Cash flow**
**At 31.3.24**
**£**
**£**
**£**
233,947
155,683
389,630
233,947
155,683
389,630
233,947
155,683
389,630|
|---|---|
The notes form part of these financial statements
Page 7
Health Care Supply Association
Notes to the Financial Statements for the Year Ended 31 March 2024
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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continued...
Health Care Supply Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
|**2.**
**INVESTMENT INCOME**
Dividend income
Deposit account interest
**3.**
**INCOME FROM CHARITABLE ACTIVITIES**
**Activity**
Conference income
Conferences, seminars and training
**4.**
**CHARITABLE ACTIVITIES COSTS**
Conferences, seminars and
training
**5.**
**SUPPORT COSTS**
**Other resources expended**
Management
Finance
Information Technology
Other
Governance costs|**2024**
**£**
7,213
8,843
16,056
**2024**
**£**
486,885
||**2023**
**£**
3,661
15
3,676
**2023**
**£**
370,010
**Direct**
**Costs**
**£**
152,586
**£**
241,464
108
16,062
2,459
23,037
283,130|
|---|---|---|---|
|||||
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
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continued...
Health Care Supply Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **6. TRUSTEES' REMUNERATION AND BENEFITS - continued**
## **Trustees' expenses**
During the year three trustees received payment for expenses relating to travel and accommodation to conferences and events totalling £1,923 (2023: £5,571)
## **7. FIXED ASSET INVESTMENTS**
|**Movement in Fixed Asset Investments**
Market value brought forward
Additions
Disposals
Net gain / (loss) on revaluation
Market value as at 31 March
All investments are stated at open market value.
**Fixed asset investment by type**
Managed Fund
Overseas Equities
Infrastructure & Operating Assets
Fixed Interest
UK Equities
Property
Private Equity & Other
Cash & Near cash
Contractual & Other income
Derivatives|**2024**
**£**
236,259
-
-
23,211
259,470
**2024**
**£**
169,019
23,690
20,835
16,450
11,910
8,640
5,656
3,217
52
259,470|**2023**
**£**
-
250,005
-
(13,746)
236,259
**2023**
**£**
150,615
17,601
18,121
19,940
7,608
4,820
12,356
5,150
47
236,259|
|---|---|---|
No individual investments accounted for more than 5% of the value of the portfolio.
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continued...
Health Care Supply Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Accrued income
Prepayments
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Taxation and social security
Other creditors
**10.**
**MOVEMENT IN FUNDS**
**Net**
**movement**
**At 1.4.23**
**in funds**
**£**
**£**
**Unrestricted funds**
General fund
257,022
67,225
Deep Reserve
250,000
23,211
507,022
90,436
**TOTAL FUNDS**
507,022
90,436|**2024**
**£**
126,246
-
140,969
267,215
**2024**
**£**
53,949
41,231
223,677
318,857
**Transfers**
**between**
**funds**
**£**
23,211
(23,211)
-
-|**2023**
**£**
109,288
121,943
11,851
243,082
**2023**
**£**
-
22,583
183,683
206,266
**At**
**31.3.24**
**£**
347,458
250,000
597,458
597,458|
|---|---|---|
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Deep Reserve
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
502,941
-
502,941
502,941|**Resources**
**expended**
**£**
(435,716)
-
(435,716)
(435,716)|**Gains and Movement**
**losses**
**in funds**
**£**
**£**
-
67,225
23,211
23,211
23,211
90,436
23,211
90,436|
|---|---|---|---|
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continued...
Health Care Supply Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **10. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Deep Reserve
**TOTAL FUNDS**|**At 1.4.22**
**£**
486,274
-
486,274
486,274|**Net**
**movement**
**in funds**
**£**
20,748
-
20,748
20,748|**Transfers**
**between**
**funds**
**£**
(250,000)
250,000
-
-|**At**
**31.3.23**
**£**
257,022
250,000
507,022
507,022|
|---|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
373,686
373,686|**Resources**
**expended**
**£**
(339,192)
(339,192)|**Gains and Movement**
**losses**
**in funds**
**£**
**£**
(13,746)
20,748
(13,746)
20,748|
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Deep Reserve
**TOTAL FUNDS**|**At 1.4.22**
**£**
486,274
-
486,274
486,274|**Net**
**movement**
**in funds**
**£**
87,973
23,211
111,184
111,184|**Transfers**
**between**
**funds**
**£**
(226,789)
226,789
-
-|**At**
**31.3.24**
**£**
347,458
250,000
597,458
597,458|
|---|---|---|---|---|
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continued...
Health Care Supply Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
## **10. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Deep Reserve
**TOTAL FUNDS**|**Incoming**
**resources**
**£**
876,627
-
876,627
876,627|**Resources**
**expended**
**£**
(774,908)
-
(774,908)
(774,908)|**Gains and Movement**
**losses**
**in funds**
**£**
**£**
(13,746)
87,973
23,211
23,211
9,465
111,184
9,465
111,184|
|---|---|---|---|
## **11. RELATED PARTY DISCLOSURES**
HCSA has used the services of Marc Ibbotson Procurement Services (MIPS Ltd) for many years to support the learning and development work of the Charity. During the year MIPS Ltd was commissioned to support the development, training and delivery of a revised Learning and Development programme. Whilst undertaking this work, MIPS Ltd employed the services of R G Waddell, a trustee, for £700 for consultancy services. This work and remuneration was approved by the Board as an exceptional one-off arrangement and the work was completed during the year. No other Trustee has received any remuneration of any kind.
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