REGISTERED CHARITY NUMBER: 1170161
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2025
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 2025
| 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 |
| Detailed Statement of Financial Activities | 14 to 15 |
Health Care Supply Association
Report of the Trustees for the Year Ended 31 March 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. 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.
ACHIEVEMENTS 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.
Page 1
Health Care Supply Association
Report of the Trustees
for the Year Ended 31 March 2025
FINANCIAL REVIEW
Financial result
Income from all activities in the year to 31 March 2025 was £765,867 and expenditure totalled £845,483 which together with the loss of £11,007 on revaluation of the investment portfolio, resulted in a deficit for the year of £90,623 compared to a surplus of £90,436 in the year to 31 March 2024.
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 £506,835 at 31 March 2025 which ensures the charity is financially strong and well placed to serve our members for the forthcoming year and into the future.
Reserves policy
Having reviewed the reserves policy,the trustees have decided to increase the funds held in the deep reserve by £100,000. The balance held in the deep reserve at the end of the year was £350,000. The deep reserve is set aside as part of the charity's plans to provide long term support in furtherance of its objectives. The deep reserve held is part of the charity's 31 March 2025 unrestricted income fund balance of £506,835.
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
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Health Care Supply Association
Report of the Trustees for the Year Ended 31 March 2025
Trustees
I M Turner M Roscrow MBE Prof N D Eaton FCIPS W Hall R G Waddell JP FCIPS S Walsh F Robinson S Barrow (appointed 13.11.24)
Approved by order of the board of trustees on 23 September 2025 and signed on its behalf by:
M Roscrow MBE - Trustee
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Health Care Supply Association
Statement of Financial Activities for the Year Ended 31 March 2025
| 2025 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Charitable activities 3 Conferences, seminars and training 753,298 Investment income 2 12,569 Total 765,867 EXPENDITURE ON Charitable activities 4 Conferences, seminars and training 472,785 Other 372,698 Total 845,483 Net gains/(losses) on investments (11,007) NET INCOME/(EXPENDITURE) (90,623) RECONCILIATION OF FUNDS Total funds brought forward 597,458 TOTAL FUNDS CARRIED FORWARD 506,835 |
2024 Total funds £ 486,885 16,056 |
|---|---|
| 502,941 | |
| 152,586 283,130 |
|
| 435,716 | |
| 23,211 | |
| 90,436 507,022 |
|
| 597,458 |
The notes form part of these financial statements
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Health Care Supply Association
Balance Sheet 31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investments | 7 | 248,463 | 259,470 |
| CURRENT ASSETS | |||
| Debtors | 8 | 334,314 | 267,215 |
| Cash at bank | 382,056 | 389,630 | |
| 716,370 | 656,845 | ||
| CREDITORS | |||
| Amounts falling due within one year | 9 | (457,998) | (318,857) |
| NET CURRENT ASSETS | 258,372 | 337,988 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 506,835 | 597,458 | |
| NET ASSETS | 506,835 | 597,458 | |
| FUNDS | 10 | ||
| Unrestricted funds | 506,835 | 597,458 | |
| TOTAL FUNDS | 506,835 | 597,458 |
The financial statements were approved by the Board of Trustees and authorised for issue on 23 September 2025 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 2025
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Cash flows from investing activities Interest received Dividends received Net cash provided by 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 |
2025 £ (20,143) (20,143) 5,214 7,355 12,569 (7,574) 389,630 382,056 |
2024 £ 139,627 139,627 8,843 7,213 16,056 155,683 233,947 389,630 |
|---|---|---|
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 2025
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Losses/(gain) on investments Interest received Dividends received Increase in debtors Increase in creditors Net cash (used in)/provided by operations |
2025 £ (90,623) 11,007 (5,214) (7,355) (67,099) 139,141 (20,143) |
2024 £ 90,436 (23,211) (8,843) (7,213) (24,133) 112,591 139,627 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| Net cash Cash at bank Total |
At 1.4.24 Cash flow At 31.3.25 £ £ £ 389,630 (7,574) 382,056 389,630 (7,574) 382,056 389,630 (7,574) 382,056 |
|---|---|
The notes form part of these financial statements
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Health Care Supply Association
Notes to the Financial Statements for the Year Ended 31 March 2025
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 2025
| 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 £ Management Finance Information Technology Other Governance costs 6. TRUSTEES' REMUNERATION AND BENEFITS |
2025 £ 7,355 5,214 12,569 2025 £ 753,298 |
2024 £ 7,213 8,843 16,056 2024 £ 486,885 Direct Costs £ 472,785 expended 308,678 - 16,060 2,636 45,324 372,698 |
|
|---|---|---|---|
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
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continued...
Health Care Supply Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
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 £4,943 (2024: £1,923)
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 |
2025 £ 259,470 - - (11,007) 248,463 |
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 |
|---|---|---|
| 2025 £ 141,574 16,399 25,219 20,275 11,529 11,429 17,318 4,696 24 248,463 |
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 2025
| 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Taxation and social security Other creditors 10. MOVEMENT IN FUNDS |
2025 £ 181,900 152,414 334,314 2025 £ 80,471 75,903 301,624 457,998 |
2024 £ 126,246 140,969 267,215 2024 £ 53,949 41,231 223,677 318,857 |
|---|---|---|
| Net movement At 1.4.24 in funds £ £ Unrestricted funds General fund 347,458 (79,616) Deep Reserve 250,000 (11,007) 597,458 (90,623) TOTAL FUNDS 597,458 (90,623) Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 765,867 (845,483) Deep Reserve - - 765,867 (845,483) TOTAL FUNDS 765,867 (845,483) |
Transfers between At funds 31.3.25 £ £ (111,007) 156,835 111,007 350,000 - 506,835 - 506,835 Gains and Movement losses in funds £ £ - (79,616) (11,007) (11,007) (11,007) (90,623) (11,007) (90,623) |
|---|---|
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Health Care Supply Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Deep Reserve TOTAL FUNDS |
At 1.4.23 £ 257,022 250,000 507,022 507,022 |
Net movement in funds £ 67,225 23,211 90,436 90,436 |
Transfers between funds £ 23,211 (23,211) - - |
At 31.3.24 £ 347,458 250,000 597,458 597,458 |
|---|---|---|---|---|
Comparative 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 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Deep Reserve TOTAL FUNDS |
At 1.4.23 £ 257,022 250,000 507,022 507,022 |
Net movement in funds £ (12,391) 12,204 (187) (187) |
Transfers between funds £ (87,796) 87,796 - - |
At 31.3.25 £ 156,835 350,000 506,835 506,835 |
|---|---|---|---|---|
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Health Care Supply Association
Notes to the Financial Statements - continued for the Year Ended 31 March 2025
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:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 1,268,808 (1,281,199) Deep Reserve - - 1,268,808 (1,281,199) TOTAL FUNDS 1,268,808 (1,281,199) |
Gains and Movement losses in funds £ £ - (12,391) 12,204 12,204 12,204 (187) 12,204 (187) |
|---|---|
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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