# **ANNUAL REPORT AND FINANCIAL STATEMENTS 2021-2022**
## **CONTENTS**
**WELCOME FROM CHAIR OF TRUSTEES AND CHIEF EXECUTIVE MESSAGE FROM THE TRUST GROUP CHIEF EXECUTIVE OUR THREE AREAS OF ACTIVITY**
**KEY MOMENTS**
**OUR IMPACT PATIENT CARE AND EXPERIENCE FUNDING MEDICAL RESEARCH AND EQUIPMENT SUPPORTING NHS STAFF**
**RAISING MONEY FUNDRAISING COMMUNITY HIGHLIGHTS SUPPORTER STORIES**
**FUTURE PLANS**
**STRUCTURE, GOVERNANCE AND MANAGEMENT**
**RISKS AND RESERVES REFERENCE AND ADMINISTRATIVE DETAILS STATEMENT OF TRUSTEES’ RESPONSIBILITIES FINANCIAL REVIEW**
**INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST GEORGE’S HOSPITAL CHARITY**
**STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
**BALANCE SHEET AS AT 31 MARCH 2022**
**STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**4 6 7 8 10 11 14 18 20 21 24 26 28 30 34 38 39 40 42 46 47 48 49**
**www.stgeorgeshospitalcharity.org.uk 3**
## **WELCOME FROM CHAIR OF TRUSTEES AND CHIEF EXECUTIVE**
**Staff appreciation and improving patient experience remained a priority in 2021/22 as our hospitals, like others around the country, continued to grapple with Covid and post Covid waiting lists. Local communities were outstanding in their fundraising support and some substantial individual donations have enabled us to fund potentially transformative research.**
We are also delighted to have been able to make a difference with some smaller grants. New equipment has been purchased for the Paediatric Intensive Care Unit (PICU) which will help save more vulnerable babies’ lives and we have funded a state of the art real-time radiation doses system to help manage occupational medical radiation exposure to our staff working in the Cardiac Cath Lab.
St George’s is one of the biggest melanoma surgical centres in the UK and the Charity is now assisting it to become known for its research into this potentially fatal cancer.
While improving patient outcomes is a priority for the hospital – and we do our very best to support this – we also recognise that small changes that improve patient experience can also make a big difference. We understand that being a hospital patient can involve a lot of waiting and that this can be lonely and sometimes stressful. So, this year we committed to funding the provision of free patient WiFi, which in the future will also be an enhanced service so that patients in wards and visitor areas can connect with loved ones and access more that the internet has to offer.
Our work would not be possible without the support of our donors, fundraisers, charitable trusts and foundations, local businesses and individuals who continued to surprise us with their generosity and ingenuity as they adapted to variable Covid restrictions. In total, they helped us raise an incredible £1.59m in 2021/22.
We have been expanding the Charity to fulfill our ambitions and goals. The Grants team now includes a Fund Engagement Manager to manage our 228 Special Purpose Funds and an Impact Evaluation Manager to understand and demonstrate the impact of our generous funding from our many donors.
Of course, St George’s would be nothing without our heroic NHS staff, who have worked tirelessly to get us through another year of Covid and its lasting effects. We were overjoyed to see the staff choir getting back together, writing their own song – and performing it live at the switch on of our Christmas lights. As part of an extended _Thank You George’s_ programme in partnership with the Trust, we also hosted a week-long food festival so that all staff could have ‘Lunch on Us’.
Driving innovation through research and the purchase of new equipment continues to be a priority and this year we have provided £1.96 million in grants. Thanks to a very generous bequest we have been able to provide a grant to support the creation of a professorial Chair at St George’s University to build and lead research into neuro intensive care. This is a thrilling opportunity with tangible benefits for patients and this five-year programme will work closely with the Neuro Intensive Care team ( _see page 14 for details_ ).
St George’s is located in a vibrant, contemporary and multicultural community so creating an inclusive and diverse working environment is important to the Trust
We want to help transform children’s services at St George’s so that our facilities match our world-class clinical care. The Paediatric Intensive Care Unit (PICU) currently cannot treat the number of children who need it and the children’s wards, designed in the 1980s, are tired, cramped and uninviting. Staff have even given up their changing facilities and staff rooms to make space for beds.
and the Charity. This year we have supported the Trust’s Black, Asian and Minority Ethnic (BAME) and LGBTQ+ networks with grants of £5,000 each in order that they can better raise awareness, and advocate for issues that are most important to them.
In our ongoing mission to create a warm and welcoming environment, our outstanding Arts department continues to find new and stimulating ways to bring art to the hospital and creativity to staff and patients. Three new bespoke pieces now hang in the Macmillan Cancer Support Centre as part of our ‘Gratitude Project’ and the Staff Arts Club continues to drive a better work-life balance with on-site art classes and discounted tickets to top venues presenting London’s vibrant arts scene.
In response, we have launched our £5m _Time for a Change_ children’s appeal, which kicked off with a charity football match and gala dinner at AFC Wimbledon. The events raised an amazing £350,000, the income of which will be reflected in the 2022/23 accounts. The ambition is to raise the funds needed to improve the experience of patients, families and staff across children’s services. We look forward to involving all of you in the appeal!
The people who live, work and connect with our hospitals have always been big-hearted, but the warmth and backing we have felt in the last couple of years has been astonishing. Following this groundswell of support for the Charity, in particular from parents of our younger patients, we have been inspired to launch a major new appeal in close partnership with the Trust.
This Annual Report is a tribute to all the people who make our Charity so special. From our community fundraisers and corporate sponsors to our incredible NHS staff, their patients and their families. We would also like to thank our dedicated and skilful Charity Trustees who give their time and expertise so willingly and our Charity staff who have continued to be agile and imaginative, as well as productive, as we have navigated our way through the pandemic.
We feel incredibly lucky to be part of a committed and compassionate community working together to make St George’s the best it can be for patients, staff, families and those connected locally. There is always more to do, and our _Time for a Change_ children’s appeal provides an amazing opportunity to raise money to make a real difference for children who need its care. Looking ahead we are feeling optimistic and enthusiastic about what the Charity might achieve in 2022/23.
“
We feel incredibly lucky to be part of a committed and compassionate community working together to make St George’s the best it can be for patients, staff, families and those connected locally.”
Anna Walker CB Amerjit Chohan Chair Chief Executive
**4 Annual Report and Financial Statements 2021-22**
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## **MESSAGE FROM THE TRUST GROUP CHIEF EXECUTIVE**
Our close partnership with St George’s Hospital Charity has been more important than ever as we navigated our second year of Covid and managed post-Covid waiting lists. The support provided by the Charity has raised our staff morale and improved the outcomes for patients.
Looking ahead, I am excited that we are supporting the Charity’s _Time for a Change_ children’s appeal. This is the largest appeal that has been launched by the Charity, in partnership with the Trust, with a fundraising goal of £5m. The ambition is to grow our Paediatric Intensive Care Unit (PICU) and transform our children’s wards so that we can extend our excellent clinical support to more children in a bright, welcoming environment.
Staff hugely appreciated the wonderful food festival offering ‘Lunch on Us’ to thank them for their heroic efforts over the last couple of years. Our choir members loved the opportunity to write and perform their own song, while our cancer nurses were delighted by their individual bespoke artworks in gratitude for their ongoing compassion. For our patients, the investment we can make in additional research and innovative equipment from the Charity’s grants can significantly improve their experience and outcomes.
I am eager to see where our partnership with the Charity takes us in the future as we continue to work and collaborate more closely. On behalf of everyone at St George’s, I would like to say a huge thank you to the Charity and, everyone who generously supports us.
With best wishes,
The generosity of the individuals, groups and businesses who fundraise and donate to the Charity is commendable and I was pleased that, this year, I could be part of that support. I was delighted and nervous to take part in the ‘Abseil for George’s’ as I was the first person to abseil down the Pelican Hotel, our tallest building onsite. This event received tremendous local support and raised £60,000 in total. This is just one example of the energy and determination the Charity brings to our hospitals.
## Jacqueline Totterdell
Group Chief Executive Officer St George’s, Epsom and St Helier University Hospitals and Health Group
“The generosity of the individuals, groups and businesses who fundraise and donate to the Charity is fantastic and I was pleased that, this year, I could be part of that support.”
## **OUR THREE AREAS OF ACTIVITY**
**Our purpose is to support St George’s Hospital and Queen Mary’s Hospital to improve the experience of patients, families, staff and the wider community served by both hospitals, beyond that achieved by routine NHS funding.**
## **THE CHARITY’S OBJECTS ARE TO:**
first, be collaborative, to listen, make an impact and be responsive.
- Further any charitable purpose or purposes relating to the general or any specific purposes of the Foundation Trust or the purposes of the health service.
We work in partnership with St George’s University Hospitals NHS Foundation Trust, St George’s, University of London and our local community to fund major improvements to hospital facilities, research and medical equipment, schemes that make a real difference to the experience of patients, families and staff, as well as projects within the community that support the reduction of health inequalities and preventable hospital admissions. St George’s University Hospitals NHS Foundation Trust and Epsom and St Helier University Hospitals NHS Trust formed a hospital group with Jacqueline Totterdell appointed Group Chief Executive. Both organisations remain two separate Trusts but with one Executive Team, enabling closer working to build on our strong foundations.
- To promote, protect, preserve and advance all or any aspects of the health of the public.
- To advance and promote knowledge and education in health care, including by engaging in and supporting health related research (and the dissemination of the useful results) including at St George’s, University of London.
Underpinning all our activity is our organisational commitment to support the delivery of better care and healthier lives. We are determined to put patients
## **OUR ACTIVITY CAN BE DIVIDED INTO THREE KEY AREAS:**
## **GRANTS**
## **ARTS**
## **FUNDRAISING**
**We fund ideas and projects, Enabling arts and culture to thrive in The work that we do to support above and beyond routine our hospitals provides opportunities our hospitals and make a NHS funding to enable for everyone connected with the difference to patients and staff outstanding care to improve Trust to engage in creative activities is underpinned by our ability the lives of patients, their and enjoy cultural experiences to to raise valuable funds from families, staff and those in the support the recovery and wellbeing our supporters. We generate wider community. Our grants of patients. Throughout the year income through a diverse range support: patient and family we work with experienced artists, of fundraising activities including experience; staff development cultural organisations and our major gifts, corporate partners, and welfare; research and healthcare colleagues to offer a trusts and foundations, legacies, transformation; capital projects range of activities including creative and community and events. and infrastructure; community workshops, live music, theatre Thank you to everyone who has welfare and medical equipment. performances and art exhibitions. supported us in the past year.**
**6 Annual Report and Financial Statements 2021-22**
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**KEY MOMENTS**
## **KEY MOMENTS**
The Asian Resource Centre in Croydon made astounding progress in seeking to reduce health inequalities and Covid in Asian families and other vulnerable groups. Using funding secured by the Charity (from an NHS Charities Together grant) we were able to raise awareness of Covid and promote the benefits of good physical and mental health, particularly among intergenerational households.
Together with St George’s Trust Chaplaincy, we launched our brand new Wudu Wash Facilities thanks to incredible donations from the local community.
Croydon Mencap Carer Support Service, co-funded by the Charity supported 77 families, provided focused case work support to 20 families, and delivered two workshops to parents of children with disabilities.
**April**
**May**
**2021**
As part of the Captain Tom 100 Challenge, over 50 staff members helped walk over 130 laps of our hospital to raise funds.
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We celebrated the NHS 73 [rd] Birthday
in so many ways including a feature
on ITV1’s Good Morning Britain by
Lorraine Kelly, tea parties across
our hospitals and The Lanesborough
Hotel lighting up blue!
Our arts team launch the first ever
St George’s Arts Week.
August
Artists and musicians pop
up in outpatient waiting
areas to entertain patients
as part of our Summer
Series of arts activities.
**----- End of picture text -----**
The Charity funded the purchase of a second scalp-cooling machine for the Oncology Day Unit, enabling them to provide this relieving treatment to an additional four to six patients a day, five days a week. This patient-centred approach improves patient experience by offering patients appointments which better suit their schedules.
An evaluation of ten interventions to improve End of Life Care for the Elderly are presented to the Trust’s End of Life Care steering Group.
We celebrated our incredible supporters by getting them together to say a huge thank you.
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2022
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July
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**September**
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November
October December
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**March**
A new 500 gene cancer panel, developed with co-funding from the Charity, is approved by the UK Accreditation Service. It will now be deployed as standard of care testing for patients with advanced cancers in the UK. The panel will allow for a much more in-depth analysis of colorectal and other cancers, thereby enabling clinicians to use a more personalised medicine approach and hopefully leading to improved medical outcomes.
Our _Time for Christmas_ campaign raised over £28,000 to support our hospitals.
**Annual Report and Financial Statements 2021-22**
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**OUR IMPACT**
## **OUR IMPACT**
**Our aim is to improve the hospital experience for patients and their families, ensure NHS staff feel valued and engage with local communities.**
**Our grants fund important research and lifesaving new equipment, but we also provide non-medical grants that can make a big difference to patient experience – such as better WiFi for patients and creative activities for staff, patients and the local community.**
**We hope you enjoy reading these stories which demonstrate our impact at St George’s over the last 12 months.**
**PATIENT CARE AND EXPERIENCE**
**FUNDING MEDICAL REASEARCH AND EQUIPMENT**
**SUPPORTING NHS STAFF**
## **PATIENT CARE AND EXPERIENCE**
**We are always looking for new ways to improve the experience for patients while they are in hospital, and for their friends and families who visit. We use our grants for many projects including funding our extensive arts programme, refurbishing inside spaces and gardens, providing recreational activities and new equipment so that St George’s can provide patient treatments which go above and beyond. This year we invested £583,000 in initiatives designed to enhance patient care and experience.**
## **BETTER CONNECTIVITY FOR PATIENTS AND VISITORS**
The pandemic highlighted the importance of good WiFi for many people staying at and visiting our hospitals. Being able to connect with loved ones can ease anxiety and boredom and improve patient experience, both in public spaces and on our wards.
In 2021/22, we provided a grant of over £131,000 to renew the Trust’s patient and visitor WiFi for another year and to upgrade the existing 1Gb line to a 10Gb line. This increased bandwidth means patients and visitors will be able to access more online services while they are at the hospital.
**99** % **of people who**
**took part in an arts activity told us that it improved their wellbeing**
**60 events ran by our arts team with 49 different artists**
## **BREATHING SPACES FOR PARENTS AND CARERS**
The True Colours Trust is kindly funding a Breathing Spaces room for parents and carers of children staying on Pinckney Ward. The room will be a place where families can feel safe to recuperate and recharge after any stressful experiences. It will also be useful for putting parents and carers in contact with each other, help to facilitate peer support and to foster a sense of community.
In addition, this space can be used as a quiet area to have private conversations, for example if paediatric teams need to support a family meeting with social services or deliver bad news to parents or carers.
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**10 Annual Report and Financial Statements 2021-22**
**OUR IMPACT**
## **LAUNCHING OUR FIRST ST GEORGE’S ARTS WEEK**
Botanical bunting making and steel pans sessions were just a couple of the activities available in our first ever St George’s Arts Week in July 2021. This was an opportunity to celebrate the year-round programme of arts initiatives we run at St George’s and Queen Mary’s which positively impact the time patients, their families and staff spend in this healthcare setting. Our wonderful hospital gardens were also celebrated and used to stage performances from South Asian Dance to Opera.
A patient told us: “I hadn’t realised how much I needed to reconnect with art and was glad I did! The person I spoke to was lovely and I had an absolutely amazing time sketching in the sun! It was brilliant and very much lifted my spirits!”
## **During St George’s Arts Week 2021 we hosted:**
**18 events**
**14 artists 6 partner organisations**
## **MUSIC WHILE YOU WAIT**
As most of us know, waiting to get a Covid vaccine can be a bit stressful, so to relieve the pressure on patients we engaged acclaimed jazz musicians, led by guitarist Ant Law, to perform while people stood in line. This was the first time since the start of the pandemic that we could invite artists to play live at the hospital and we were delighted by how the music changed the atmosphere for around 1,000 people as they waited patiently.
One person attending the clinic told us “The music was beautiful and eased my nerves coming in, being someone who is very afraid of needles.” Another said: “It was such a lovely surprise to have live music while I waited for my vaccine. I felt the two musicians put everyone in a more positive frame of mind and it really made my day.”
“It was a real joy to hear live music today – and great cheerful sunny music – thank you!!”
**Patient**
## **REMEMBERING MOTHERS AND BABIES**
Her Royal Highness Princess Michael of Kent opened a new Maternity Memorial Garden at St George’s Hospital in October 2021, during Baby Loss Awareness Week.
The garden will serve as a quiet place for reflection for anyone affected by pregnancy or baby loss, as well as a permanent memorial to mothers that have died during and after pregnancy. HRH Princess Michael of Kent said: “I was honoured to be invited to St George’s today to officially open the Maternity Memorial Garden. It is a beautiful space that will mean so much to so many staff, patients and their families.”
The project was generously funded by B&Q as part of its new store openings in Tooting and Wandsworth and supported by our incredible St George’s gardening team, led by Head Gardener John Greco.
## **NEW ARTWORKS ON DISPLAY**
Our collection of more than 800 artworks displayed around St George’s Hospital helps us create spaces which are engaging, welcoming and compassionate. Our collection continues to grow, and this year we are delighted to have acquired 35 new artworks, many of which have been selected by hospital staff for display in the new MRI centre, due to open later in 2022.
## **SUPPORTING PEOPLE WITH YOUNG ONSET DEMENTIA**
We are proud to fund a Support Group for people who have received a diagnosis of Young Onset Dementia (YOD) and their carers.
As well as regular meetings, the YOD Support Group offers valuable resources, peer support, information and presentations to both individuals and their families and carers. This work is kindly funded by the McLay Dementia Trust, Invesco Cares, the Kirby Laing Foundation, and the Hospital Saturday Fund.
## **A QUIET PLACE IN PICU**
At the moment there is no dedicated place where families and healthcare professionals can sit together in the Paediatric Intensive Care Unit (PICU) and have conversations which are often delicate and difficult.
We have provided a grant of over £13,000 to convert an existing office space into a calm, quiet space for parents to talk to staff about the diagnosis, treatment and prognoses of their child. We know this appropriate, comfortable and private space will be welcomed by both families and staff.
**12 Annual Report and Financial Statements 2021-22**
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**OUR IMPACT**
**OUR IMPACT**
## **FUNDING MEDICAL RESEARCH AND EQUIPMENT**
## **LEGACY TO FUND NEURO INTENSIVE CARE RESEARCH**
We are incredibly grateful for a generous bequest in memory of a patient who was cared for by the Neuro Intensive Care Unit at the Trust, a national centre of excellence. As a result of this bequest, we have awarded a grant of £820,000 to create a neuro intensive care research programme working closely with the Neuro Intensive Care team who looked after the patient.
**To improve outcomes for patients, we support our hospitals to go ‘above and beyond’ by funding innovative research, investing in leading edge technology and attracting world-class expertise. This year we were able to provide grants of £1.132m towards research and £91,000 for medical equipment. Here’s a small selection of some the innovative and exciting projects we’ve been funding.**
The ambition is to create a post of a professorial Chair at St George’s University to build and lead research into neuro intensive care over the next five years. This person will spend half their time as a consultant clinician in the Neuro Intensive Care Unit and the remainder building the neuro intensive care research programme.
## **LET’S GET PHYSIO**
Dr Zoumproulis, Consultant & Hon Senior Lecturer in Neuroanaesthesia & Neurointensive Care at St George’s Hospital, said:
The Physiotherapy team have been able to buy new musculoskeletal physio equipment, including weights, bands and benches, with our grant of over £6,000. Physio is so important for the recovery of many patients experiencing muscle and joint conditions and the team work across both St George’s Hospital and St John’s Therapy Centre.
“This is a truly exciting opportunity to build a research programme with tangible translational benefit for patient outcomes. We very much look forward to its development over the coming years and express our heartfelt gratitude for this legacy. Our wish is to create something lasting in memoriam.”
## **ICKLE PICKLE GRANT**
## **KNOWING MORE ABOUT MELANOMA**
St George’s is one of the biggest melanoma surgical centres in the country and is participating in the Melanoma Database initiative to create a national melanoma registry. We have provided a grant of over £50,000 to St George’s Melanoma Service to help develop its research capabilities by employing a Data Manager.
We have been able to purchase some amazing new resuscitation equipment for vulnerable babies, called LifeStart, thanks to a donation of over £14,000 from Ickle Pickle Children’s Charity. LifeStart is totally mobile so it can be brought to where the baby is being delivered and even allows treatment to be provided while the baby is attached to the placenta.
## **RADIATION EXPOSURE MONITORING**
NHS staff at the Cardiac Cath Lab at St George’s – a leading cardiology centre in the UK – work with high radiation doses for some procedures, which needs to be carefully monitored. Thanks to our grant of over £15,000 the Lab has been able to buy a DoseAware tool which allows the real-time monitoring of radiation. This makes it much easier for staff to track their exposure and protect their health and wellbeing.
**17 research grants active in 2021/22 with a total lifetime value of £2.4 million**
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**OUR IMPACT**
**OUR IMPACT**
## **GENE PANEL TO SUPPORT CANCER CARE**
We have co-funded a study, called EMPIRIC, which has led to the development of a 500 gene cancer panel. This has been accredited by the UK Accreditation Service and will now be used as the standard test for patients with advanced cancers, including colorectal cancer.
The test offers more in-depth analysis of the cancer so that clinicians can take a more personalised medicine approach, which in turn could lead to improved medical outcomes. More comprehensive testing also provides more detailed information about the tumour which could facilitate patient involvement in future clinical trials.
## **FUNDING RESEARCH INTO ABNORMAL HEART RHYTHMS**
We are very grateful to the Becht Foundation which has made a generous multi-year commitment to support research into abnormal heart rhythms. Known as the Advanced Ventricular Arrhythmia Training and Research Programme (AVATAR), this project will be overseen by Dr Magdi Saba, Consultant and Reader, Cardiac Electrophysiology at St George’s Hospital and St George’s, University of London, with the goal of advancing treatment and improving outcomes for patients.
The grant is funding a rolling programme of ventricular arrhythmias and a 12-month training fellowship for senior trainees (ready to become Consultants) to provide exposure to ventricular arrhythmias in their training.
## **EFFECT OF ECTOPIC PREGNANCY ON FERTILITY**
The three-year research project we have funded exploring possible links between ectopic pregnancy and future fertility is coming to fruition. Over 40 patients were recruited for this research which began in June 2019, with results due to be published in 2022.
As well as considering if women have reduced fertility following ectopic pregnancy, the research studied whether different methods of management of ectopic pregnancy are associated with differing levels of subsequent fertility.
Research looking at conservative management of ectopic pregnancies compared to removal of a fallopian tube and long term ovarian function, has not been carried out until this project and participants received fertility-associated blood tests and ultrasound scans. The results showed no difference in fertility between the two patient groups and a large proportion of patients went on to have successful pregnancies.
There is very limited evidence available in this field so we hope this study will reassure women who might be worried about being able to get pregnant again after an ectopic pregnancy.
**4 of the live research projects we have funded were undertaken in partnership with other NHS Trusts**
**5 of the live research projects we funded have collaborated with other academic institutions**
**6 diagnostic tests have been improved and one new diagnostic test has been developed as because of research projects ongoing in 2021**
**4 new scientific papers have been published as a result of live research projects supported by our grants**
**Results of research projects ongoing in 2021/22 have been presented at seven external conferences and seminars**
**16 Annual Report and Financial Statements 2021-22**
**OUR IMPACT**
## **OUR IMPACT**
## **SUPPORTING NHS STAFF**
**From song-writing sessions to food festivals, we do our best to help NHS staff feel valued and appreciated and, in 2021/22 our support focused around wellbeing and work-life balance. This year we spent £253,000 on initiatives and activities to better support our NHS staff.**
## **FIRST RULE OF ARTS CLUB…**
With over 880 members, our Staff Arts Club continues to grow in popularity. The Club is open to all staff who work across our hospitals and community services and offers creative workshops as well as heavily subsidised and free tickets for galleries and performances.
Fortnightly workshops are led by professional artists and are open to all abilities. We hope this opportunity to relax and be creative relieves the pressure of working in a busy hospital – particularly in the last couple of years.
We received wonderful feedback and people seemed to enjoy both the social and artistic elements of these events. One participant said: “It’s the first time in a long time that I have been able to switch off totally from work pressures. So thank you for providing this space for us!”
This year we have become Corporate Members of the Tate Galleries meaning staff – as well as their friends and families – have been able to access free tickets to some extraordinary Tate exhibitions.
## **RAISING OUR VOICES AS WE WALK THROUGH THE STORM**
St George’s Staff Choir members became songwriters to celebrate their return to singing back in person in December 2021. Choir leader Ben See worked with participating staff in a series of song-writing sessions and the result was an inspirational St George’s Choir Mantra. The choir went on to perform this at our Christmas lights switch-on event, along with an Elton John number.
These creative sessions were fun and a joyful way to bring the choir back together to sing with one voice. One member said: “Having the opportunity to sing and co-write a song that reflects our daily lives was truly humbling. Thank you to Ben and the Charity team for arranging a time when staff from all areas of the Trust can come together in song.
“I am sure that whether you attended one or more sessions you came away feeling elated.”
## **The St George’s Staff Choir Mantra:**
_**“Coming together with one common goal Meeting new people is good for the soul Faces will shine, and**_
_**new friendships will form We are raising our voices as we walk through the storm”**_
## **BESPOKE ART TO THANK CANCER NURSES**
To celebrate the exceptional daily commitment of Specialist Cancer Nurses, particularly in the previous 18 months, the Macmillan Lead Cancer Team approached us to produce some new artwork.
Our Arts team commissioned Hannah Coulson to create a meaningful and lasting artwork under an initiative called ‘The Gratitude Project’. As a result, each Specialist Cancer Nurse received a bespoke greetings card, and three new unique artworks now hang in the Macmillan Cancer Support Centre.
## **LUNCH ON US!**
Turns out there is such a thing as a free lunch – and we felt our NHS heroes most definitely deserved one! Thanks to a £30,000 donation the London Full Gospel Church, we were able to provide a grant to the Trust to give staff ‘Lunch on Us’. This took the form of a weeklong Food Festival offering a wide range of delicious, tasty food from around the world. Staff could choose anything they liked for lunch.
At the invitation of our Arts Team, students from Trinity Laban Conservatoire of Music & Dance raised everyone’s spirits by performing in live quartets for staff while they enjoyed their complimentary lunch.
This was part of a series of events promoted by the Trust to say thank you to staff for their incredible efforts during the pandemic. The event was very well received by staff and considered a great success!
## **CHRISTMAS CHEER FOR THE WARDS**
Working through Christmas is tough at the best of times but with Covid levels back on the rise, St George’s staff were being pushed to the limits again. To bring a little seasonal cheer, we provided grants to every ward at the hospital totalling over £20,000. This money could be used by staff to buy presents, decorations and other treats to brighten up the festive period in hospital for patients.
## **CHRISTMAS ON US!**
We all remember how Covid blighted so many Christmas plans in 2021 and it certainly made life difficult for our NHS staff working over the holiday period.
To lift spirits during this difficult time, we provided a grant of £25,000 to buy, cook and serve festive food to our hardworking staff. Volunteers, led by Charity Chief Executive Amerjit Chohan, dished up Christmas Dinner on Christmas Day, pizzas on New Year’s Eve and offered delicious all-day breakfasts on New Year’s Day.
Amerjit said: “It was both a privilege and an honour to be able to share some Christmas cheer with our brilliant Trust staff. This small act of kindness was really appreciated by everyone.”
## **SUPPORTING DIVERSITY AND INCLUSIVITY**
St George’s is located in a vibrant, and multicultural community so creating an inclusive and diverse working environment is important to the Trust and the Charity. This year we have supported the Trust’s BAME (black, Asian and minority ethnic) network and LGBTQ+ (Lesbian, Gay, Bisexual, Transgender, Questioning, +) network with grants of around £5,000 each to fund their annual activities. These networks provide a safe environment to discuss issues, give a voice and forum to influence change, and build staff communities. Our grants are funding awareness raising resources and materials, and social events, including Ally Movie Nights, Black History Month events and displays, pronoun badges, guest speakers, and much more!
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**RAISING MONEY**
## **RAISING MONEY**
**A huge thank you to our determined, courageous and fun-loving fundraisers who – after a year when almost everything went virtual – seemed to enjoy getting back to reality. In fact, 2021 - 2022 was a very good year for fundraising, particularly following the Covid disruption, with an astounding total of £1.59m raised.**
**It seems like the spirit of adventure returned with almost 250 people participating in running, walking, trekking, cycling, skydiving and abseiling challenges and many more organising or taking part in a variety of different events and activities across the year.**
**We are hugely grateful to those who have left a gift to our Charity in their wills. As well as our brave participants, we would also like to thank our volunteer team who supported us at many activities. Go #TeamGeorges!**
**FUNDRAISING**
**COMMUNITY HIGHLIGHTS**
**SUPPORTER STORIES**
## **FUNDRAISING**
## **TIME FOR A BIG LAUGH**
Comedians Stephen K Amos and Jo Caufield have a special connection to St George’s Hospital and Royal **677 people tapped** Trinity Hospice because it was where their sisters, **their card on one of our** Annie Caulfield and Stella Keep, were cared for before they sadly lost their lives to cancer. **Contactless Devices donating more than £3,250**
For the last four years Stephen and Jo have hosted a fundraiser for both charities at The Comedy Store in London called “Big Love, Big Laughs”. Having been online in 2020, it was wonderful to have this event back live and in person for 2021. Hilarious performances from Romesh Ranganathan, Seann Walsh, Milton Jones, Marcus Brigstock and Angela Barnes helped to raise £26,000.
**35 new artworks added to our art collection**
Amerjit Chohan, Chief Executive of St George’s Hospital Charity said: “A huge thanks to Stephen and Jo for hosting this event for the fourth time. The total raised from all these events is an astounding £83,000. The money has been put towards our _Thank You George’s_ Fund, supporting the urgent needs of patients, their families and the staff who care for them, across our hospitals.”
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**Annual Report and Financial Statements 2021-22**
**20**
**RAISING MONEY**
## **JUMP!**
## **RUN!**
It’s been a long time coming, because of Covid-19 restrictions, but two fundraisers – including the inspirational Amanda Arnold who turned 70 the day after the event – jumped 13,000 feet out of a plane to raise money for St George’s!
The London Landmarks Half Marathon kicked off in August and was our first in-person event after lockdown. Our Community Fundraising Officer, Chloe Roberts, was joined by nine other #TeamGeorges runners on the route, all raising money for various wards and departments across St George’s Hospital. One fundraiser, Mick, said choosing to take part in the London Landmarks Half Marathon was a ‘no-brainer’ after St George’s has played such a significant part in his life and his familys’.
In October, the world famous London Marathon returned with eight fundraisers raising an incredible £35,000. One of our runners was Giles Barrett who was raising money in memory of his daughter Ottilie.
Giles said: “Our hope is that Ottilie’s legacy can be, in part, to offer comfort, calm and solace to others in their darkest hours. That would certainly give us reason to be proud of her and something to, one day, tell her siblings about.”
The Royal Parks Half Marathon was our final running event of the year with 18 incredible fundraisers running through the capital’s favourite parks in the autumn sunshine to support St George’s Hospital Charity.
**127 abseilers abseiled a total of 5,461m raising over £60,000**
## **ABSEIL!**
We were absolutely delighted to hold our muchdelayed Abseil for George’s event at the Pelican Hotel in March. The Pelican is the tallest building on the St George’s site and 127 people went ‘over the edge’ at this three-day event, raising £60,000.
Jacqueline Totterdell, Group CEO, was the first to abseil down the thirteen floors from the roof, quickly followed by hospital staff from many departments including Maternity, Paediatrics and Outpatients.
Jacqueline said, “I’ve done Abseil for George’s primarily because I’m the Chief Executive of St George’s and I’m a big supporter of our Charity and I wanted to do something to support my hospital, which the St George’s Hospital Charity does superbly. The Charity was absolutely brilliant through Covid – it really supported our staff and patients and their relatives and it does so much for our hospital, and I wanted to be part of it. Brilliant.”
People of all ages joined us from the local community to be part of Abseil for St George’s including Jonathan Kol-Bar, CEO of Yellow Brick Capital and some of his team at the Pelican Hotel, whom we would like to thank for their continued support.
The event finished with past and present students from Broomwood Hall School abseiling in memory of their friend and classmate Izzy Wilson who was cared for by the incredible Paediatric team. Izzy’s Dad, Strahan was our final abseiler closing off what was an amazing event.
## **WALK!**
Eleven fundraisers took part in the London Marathon Walk in September, including a team from St George’s Surgery Department who took on the half-marathon distance to raise money to support their teams.
## **RIDE!**
The iconic London to Brighton Cycle is one of the flagship events in our calendar and 2021 did not disappoint. We had our largest number of fundraisers to date, with over 60 #TeamGeorges cyclists completing the 55-mile route and raising funds.
The peloton included a large number of paediatric staff, patients, parents and families and members of the local community. Together they conquered the mile long climb up Ditchling Beacon before following the long road into Brighton to celebrate with a beach front picnic (in the rain!). With lots of our fundraisers smashing through their fundraising goals, the event was a huge success and raised an incredible £40,000.
**22 Annual Report and Financial Statements 2021-22**
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**RAISING MONEY**
## **RAISING MONEY**
## **COMMUNITY HIGHLIGHTS**
**We’ve had some fantastic support from our local community, too many to name them all, but some are highighted below – a big thank you to our amazing community fundraisers:**
## **VIVA HAIR STUDIO**
A team from Viva Hair Studio who organised a Community Christmas Party raising £2,500 for the _Time for a Change_ children’s appeal.
**901.7 miles were ran Based on those who took part in one of our advertised events**
## **THE ROWANS SCHOOL**
The Rowans School which undertook a sponsored bounce, a toy sale and an auction to raise an amazing £2,230 for our _Time for Change_ children’s appeal.
## **SNAP FITNESS**
Snap Fitness held a 12 Days of Christmas giveaway fundraiser for our _Time for Christmas_ campaign. This involved people from the gym donating to their fundraiser to be entered into a daily draw to win prizes and raised over £500.
## **LEGAL & GENERAL**
Legal & General Investment Management Asset Allocation team who took on the Rock-Paper-Scissors Water Balloon challenge. They wanted to say thank you for the care received by one of their team member’s daughter, in the Pinckney Ward at St George’s Hospital. With match funding, they raised over £9,500.
**2,695 miles were cycled Based on those who took part in one of our advertised events**
## **THANK YOU CELEBRATION**
We were delighted to host an event at the Tooting and Tram Social to say thank you to all our supporters, fundraisers and donors. This was particularly special because the celebration was postponed the previous year due to the pandemic.
It was a chance for the Charity and the Trust to show its gratitude as well to reflect on the hard work and sacrifices hospital staff had made during the previous couple of years. Group CEO Jacqueline Totterdell, Charity Chief Executive, Amerjit Chohan and the Charity’s Chair of Trustees Anna Walker spoke as guests were treated to drinks and canapés.
## **PEABODYS**
Peabodys continue to support St George’s Hospital Charity, hosting collection tins and contactless donation points in their stores. They get involved in our challenge events including hosting a bottomless afternoon tea to celebrate the NHS 73[rd] birthday and their Director, Claudia Mascino, bravely took part in our abseil, raising over £3,000.
Shamim Umarji, a Consultant Orthopaedic Surgeon at St George’s Hospital, said: “We’ve had a huge amount of support from both the Charity and the community, and it has provided some much-needed positivity during these challenging times.”
**249 people took part in a St George’s organised challenge fundraising event**
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**RAISING MONEY**
## **RAISING MONEY**
## **SUPPORTER STORIES**
**People do unbelievable things to raise money for St George’s Hospital Charity, often motivated by the care loved ones have received at our hospitals. From muddy obstacle courses to coastal walks, marathon rowing challenges to ultra-marathons, these amazing efforts – and the words of gratitude which often accompany them – are hugely appreciated.**
## **DOUBLE PROPERTY CHALLENGE**
Martin’s Properties took on a novel team challenge in memory of Peta Martin, a key shareholder at their company who had received treatment at St George’s Hospital.
While half of the team cycled 35-miles from Guildford to their company headquarters in Chelsea, the other half visited 35 of the company’s London assets on foot. With this two-pronged fundraising approach, the team raised over £12,000 to support the Cardiothoracic Critical Care Unit who cared for Peta.
## **RUN-ROW CHALLENGE FOR FATHER AND SON**
Darryl and David Hughes took on a mammoth marathon and a half sponsored row, completing 63.3km between them, in memory of their wife and mother, Alison, who sadly passed away in December 2020. They have donated £6,500 to the St George’s Hospital Charity’s Neurosurgery Research Fund.
## **1,000 MILE WALK**
Super supporter, Darshan, clocked up 1,000 miles worth of steps to raise nearly £5,000 for our _Thank You George’s_ appeal. He walked the equivalent of Lands’ End to John O Groats – or to put it another way, a quarter of the way to the centre of the Earth!
Explaining his motivation, he said: “We have seen the amazing job doctors, nurses, paramedics, office staff, and cleaners do here. I want to say thank you for all they have done and continue to do, especially during the pandemic. It is important to put other people first and say thank you.”
## **BYFORD FAMILY TOUGH IT OUT**
After a long wait the Byford Family took on a Tough Mudder in August 2021 in memory of their dad, Steve Byford who lost his battle to Covid in 2020.
He was cared for in his final days by the team on Brodie Ward. His daughter, Lisa Byford, recalls the incredible care and compassion he received during his final days. She says she “took comfort in knowing that Dad was surrounded by such amazing people.” This incredible family raised almost £2,500 for Brodie Ward.
## **ULTRA MARATHON FOR PICU**
Benedick Ashmore-Short took on the Isle of Wight UltraMarathon and raised over £2,000 for St George’s Hospital Charity after his youngest son was treated in the Paediatric Intensive Care Unit (PICU) in April 2021.
Benedick told the PICU team: “You have given your life’s work for perhaps the most important cause there is – saving children’s lives. This in itself is worthy of all of humanity’s gratitude but beyond that; how you do things is sometimes just as important as what you do. The way you empathise, care and love with open hearts alongside supreme talent is something that I will be forever thankful for. You are all amazing.”
## **COASTAL TREK**
Bradley Gayler and his fiancé Laura raised over £4,000 by completing a phenomenal 67-mile walk from Padstow to St Ives along the South West coastal path.
Bradley’s dad, Daryl, had a serious stroke in 2019 and the walk represented 11 miles for every month that Daryl was in St George’s Hospital – either in intensive care, the stroke unit, rehabilitation or physio. Amazingly, Daryl was able to join Bradley and Laura for the final 100 metres of their walk.
Bradley said: “From day one, when dad had his lifesaving operation to when he left the hospital following his rehab, the care he received was outstanding. It made us realise how incredibly inspiring this hospital is.”
## **£90,000 RAISED IN MEMORY OF FATHER**
One of our wonderful supporters, Rahul Moodgal, pledged to and succeeded in raising £90,000 in memory of his late father, Onkar, who passed away in October 2018. Rahul began his fundraising campaign on 2 July 2021, when his father would have turned 90 years old.
Rahul says: “While my father was ill and in his last weeks, St George’s Hospital staff were an incredible support to us. In honour of my dad’s memory and the support we received, I am pledging to raise £90,000 for St George’s Hospital Charity – £1,000 for every year of what would have been his 90 years!”
All funds raised were directed towards our _Thank You George’s_ Appeal, which supports patients, staff and visitors at St George’s Hospital.
## **RAISING AWARENESS AND FUNDS**
World renowned photographer Gemma Levine is committed to raising awareness of Lymphoedema since being diagnosed following breast cancer.
She has published a book – Covid Thoughts – with all proceeds going towards Lymphoedema Research at St George’s Hospital. Covid Thoughts presents insights into the pandemic from a wide range of contributors including famouse faces.
The book launched at Mayfair eatery Mercato in September 2021. Guests were treated to an exclusive reading by actor Simon Callow of his reflections on the pandemic and from Professor Peter Mortimer on the importance of further research into Lymphatic Disease. We are hugely thankful to Gemma for her efforts in supporting research into Lymphoedema, which remains underfunded and misunderstood.
**Annual Report and Financial Statements 2021-22**
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**26**
**FUTURE PLANS**
## **FUTURE PLANS**
**As we enter the final year of our current Strategic Plan, we will continue to provide grants to improve the experience of patients, families, staff and the wider community served by St George’s hospitals. To achieve our vision of better care and healthier lives, we are committed to:**
## **SUPPORTING PATIENTS**
## **AND THEIR FAMILIES**
## **SUPPORTING NHS STAFF**
## **OUR LOCAL COMMUNITIES**
**ENHANCING RESEARCH AND INNOVATION**
**STRENGTHENING OUR INFRASTRUCTURE**
**INCREASING OUR PROFILE**
## **SUPPORTING PATIENTS AND THEIR FAMILIES**
Working in partnership with the Trust through our _Time for a Change_ children’s appeal, we aim to raise £5m by 2024 with a goal of increasing capacity on our Paediatric Intensive Care Unit (PICU) by a third and transforming our children’s wards into bright and welcoming spaces.
- Commissioning high-quality arts and delivering creative classes and opportunities to hospital patients and community services.
- Providing green outside spaces around the hospital for patients and their families to enjoy.
- Funding and implementing enhanced Wi-Fi to enable access to all that the internet has to offer for patients in hospital and their visitors.
- Supporting key services such as Cardiac, Neuro and Cancer to enhance their services to patients across the hospital.
## **SUPPORTING NHS STAFF ENHANCING RESEARCH AND INNOVATION**
Finding new and exciting ways to celebrate and acknowledge our incredible NHS staff through our ongoing _Thank You George’s_ Appeal.
- Continuing to fund multiple, multi-year research projects, including
- Ensuring St George’s is a safe and inclusive place to work by continuing to support staff diversity and inclusion networks.
- Creating a professorial Chair at St George’s University to build and lead research into neuro intensive care over the next five years, working closely with our Medical Advisory Group, the Trust and the University. This amazing opportunity is thanks to a very generous legacy of local resident in memory of his wife who was cared for by the unit.
- Supporting the mental health, wellbeing and work-life balance of NHS staff with new and dynamic creative opportunities and events, offered through our Staff Arts Club.
- Looking forward to working closely with our colleagues at Epsom and St Helier University Hospitals NHS Trust and Epsom and St Helier Hospital Charity.
- Developing the research capabilities of the St George’s Melanoma Service by funding the employment of a new data manager.
- Ongoing fundraising support for the development of research studies in the field of Lymphatic Disease, enabling colleagues within the world’s leading Lymphoedema service at St George’s to gather further knowledge and understanding of this long-term condition.
## **OUR LOCAL COMMUNITIES**
- Working to support the Trust with its core priority of bettering services for renal patients at St George’s.
Reaching into our local communities to understand their needs and provide accessible healthcare and wellbeing support.
- Continuing to work in partnership with our incredibly supportive local fundraisers – individuals, groups, schools and businesses.
## **INCREASING OUR PROFILE**
## **STRENGTHENING OUR INFRASTRUCTURE**
Finding new and effective ways to communicate with our supporters and stakeholders to seek out their views and build connections in an increasingly digital world.
Reviewing our systems and processes to improve operational efficiency and productivity.
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**Annual Report and Financial Statements 2021-22**
**28**
**STRUCTURE, GOVERNANCE AND MANAGEMENT**
**STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Trustees’ appointment**
## **Legal structure and governing documents**
St George’s Hospital Charity (Charity number 1171195) is a Company Limited by Guarantee (Company number 10565339). In 2017 it was incorporated with full independence from the Department of Health and is governed by the Memorandum and Articles of Association, as amended by a scheme dated 27 March 2017. Member liability is capped at £1.
The volunteer Board of Trustees consists of a Chair and nine Trustees, chosen for their skills and experience. At the end of 31 March 2022, there were ten Trustees (2020/21: nine) and during the year one Trustee retired. Three new trustees have been appointed in the last year. Trustees are appointed to serve for a period of four years. They can be reappointed, but no Trustee may serve for longer than ten years. The Trustees are the Directors of the Charitable Company for the purposes of company law.
The charitable objects are as follows:
- To further any charitable purpose or purposes relating to the general or any specific purposes of the Foundation Trust or the purposes of the Health Service;
All new Trustees are given appropriate induction into their responsibilities as a Trustee, as laid down in the Charity Commission’s guidelines. Each member of the Board receives an annual appraisal and the Chair’s performance is in turn evaluated by fellow Trustees. Members of the Board have individual areas of expertise.
- To promote, protect, preserve and advance all or any aspects of the health of the public; and
- To advance and promote knowledge and education in healthcare, including by engaging in and supporting health related research (and the dissemination of the useful results) including at St George’s, University of London.
All Trustees give of their time freely and no Trustee remuneration was paid during the year nor were any expenses claimed by Trustees.
The principle purpose of the Charity is to support St George’s University Hospitals NHS Foundation Trust in its delivery of care to patients at St George’s and Queen Mary’s Hospitals and in the wider communities they serve.
The Charity owns all the shares in a dormant company, St George’s Trading Limited (Company Number 3481144). The issued share capital of the company is £5. This company is being retained as it might be used to facilitate future trading activities, the profits from which would be donated to the Charity.
## **Trustees’ responsibilities**
The Board of Trustees meets five times per year, including a strategic Away Day, and it is responsible for governance of the Charity. It agrees strategic plans for Fundraising, Grants and Arts St George’s, reviews and discusses the major risks the Charity is exposed to and also discusses and approves operating plans and budgets. There is a review of progress against corporate objectives and financial performance at every meeting. The Senior Leadership Team is invited to attend meetings of the Trustees and other managers are invited to attend for presentations and discussions of specific relevant topics. While most of the business of the Charity is conducted at the scheduled Trustee meetings, there are occasional ad-hoc meetings to deal with matters of special interest as the need arises.
The Board has established a series of Sub-Committees so that much of the detailed governance work can be conducted by the group of Trustees on these, namely:
• Finance
- Fundraising and Communications
• Grants
- Remuneration and Nominations.
A meetings register is recorded at every Board and Committee meeting. Trustee attendance at the 2021/22 Board and Committee meetings can be seen below:
**----- Start of picture text -----**
Fundraising and
Finance Grants Remuneration Communications
Board Committee Committee and Nominations Committee
Anna Walker (Chair) 5/5 5/5 3/3 3/4 1/4
Sarah Wilton (Treasurer) 5/5 5/5 4/4
Schellion Horn 4/5 4/4
Katie Mantell 5/5 4/4
Zeynep Meric-Smith 2/2 2/2 2/2
(retired 26/11/21)
Mike Rappolt 5/5 4/5 3/3
Paul Sarfaty 5/5 5/5 3/4
Tim Wright 4/5 3/3
Georgina Greenspan 4/5 3/4
Paul Hayward 1/1
(appointed 1/3/22)
Renuka Jeyarajah-Dent 5/5 2/3
**----- End of picture text -----**
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**STRUCTURE, GOVERNANCE AND MANAGEMENT**
**STRUCTURE, GOVERNANCE AND MANAGEMENT**
In addition, the Board is supported by four advisory groups, which must include at least one Trustee but may also include advisers who can provide additional expert advice. Advisory groups in existence are:
- **Arts Advisory Group** advises on the arts programme at St George’s Hospital Charity. This includes the participatory arts programme, the art collection, commissioning, temporary exhibitions, and Trust staff engagement.
- **Medical Advisory Group** to support and advise the Charity’s Board of Trustees concerning grant giving activities with special reference to assessing medical research and applications for funding.
• **Development Advisory Group** to support the Charity with its fundraising and to identify, solicit and acquire significant gifts and/or donations. It will also help to raise the Charity’s profile locally and nationally. Fundraising strategy and priorities remain the responsibility of the Charity’s Board of Trustees. The Group first met in January 2021 and over the year played a vital role in shaping and created the children’s appeal, identifying new contacts, events and approaches. The Group has now transitioned into working in a more individual and targeted way, with all members still fully active in fundraising and supporting the _Time for a Change_ children’s appeal and Charity.
- **Hayler Legacy Committee** to support and advise the Charity’s Board of Trustees to enable it to distribute the bequest by Mr Hayler, to monitor its appropriate use and to report back to the Board on its impact. This one-off, special Committee was created due to the size of the bequest. This is its only purpose.
Terms of reference and membership of the Advisory Groups are approved by the Board of Trustees. We would like to thank all those who give their time and expertise so generously.
## **Charity Governance Code**
The Board of Trustees considers the Charity to have sound governance arrangements in place. The Board has assessed its governance against the Charity Commission Governance Code and is pleased to report high levels of compliance against suggested standards. It will continue to monitor these and act where there are gaps. An area of continued focus for the Board is consideration of Trustee and staff skills and diversity during the recruitment process and the need to develop relations with a wide range of stakeholders. In line with best practice, the charity commissioned an external Board Effectiveness Review in March 2022 which completed in April 2022.
## **Day to Day Management**
Responsibility for day to day management and administration of the Charity is delegated to the Chief Executive and the Senior Leadership Team. The Chief Executive reports to the Trustees and leads the Senior Leadership Team, comprising of five posts shown on page 38.
## **Fundraising Governance**
As a fundraising charity, we rely upon the generosity of our donors to help raise funds for St George’s Hospital, Queen Mary’s Hospital and the communities they serve. Therefore, we are acutely aware of how important it is to maintain the trust of our supporters. We know that it matters not just how the money they give is spent, but also how we go about raising funds.
We abide by best practice in relation to fundraising, taking our responsibility towards vulnerable people very seriously. Our teams are trained to interact sensitively and appropriately with any individual showing signs of distress or confusion in line with our values and policies. The number of volunteers operating their own fundraising activities for our benefit continues to increase and the regulations
around the management of volunteers from the Fundraising Regulator and the Code of Fundraising Practice means we are obliged to extend different levels of governance to each type of volunteer. This can mean that in order to protect volunteers who are fundraising in our name we need to provide more guidance than in previous years to be compliant.
Protecting and motivating volunteers are key priorities and the guidance from the Regulator is helpful.
## **Complaints**
- The Charity records complaints received from the public as required by the Fundraising Regulator. This covers feedback that we receive from those with whom we have direct fundraising contact, those who observe something taking place in our name with which they are unhappy, or occasionally where supporters feel we did not meet the standards they expected. In this reporting period, the Charity received one complaint, which was managed and resolved internally.
- Our approach to complaints is that we assess the complaint, escalate it if required to a senior staff member, assess what we could have done better or differently, change our practices or procedures in light of the learning, respond to the complainant and intend to report this to our Trustees at quarterly intervals.
We take complaints and/or feedback seriously and aim to maximise our learning from any complaint made to us.
We are set up to receive requests via the Fundraising Preference Service through which members of the public can ask for contact from any charity to be suppressed. Together with the changes to data privacy, including the General Data Protection Regulations that came into force in May 2018, we endeavour to communicate only with people who wish to hear from us and whose details we are permitted to hold.
## **Our supporter commitment**
Our commitment to our supporters is that their desire to assist the Charity will be matched by our staff’s professionalism and knowledge. Our staff will guide supporters through the choices available to them, will advise on when specific support is possible towards specific items, and be intermediaries between the wishes of the supporter and the departments within the hospitals. This guidance ensures that fundraising is compliant with governance and regulatory requirements.
## **Data protection and information governance**
Following the Charity’s implementation of the General Data Protection Regulation (GDPR) policies in 2018, we are committed to ensuring continuing compliance. Our data privacy policy is available on the Charity’s website. Our fundraising and marketing materials include data protection statements to ensure the Charity’s practices are as clear as possible for donors and supporters. In addition, we have developed and implemented procedures to allow the Charity’s donors and supporters to choose when and how they wish to be contacted by us.
Any queries are welcome as we continue to ensure supporter data is protected. We neither buy nor sell lists of supporter data.
Data that we share with third party providers is protected by formal agreements stating the terms under which this is shared, but above all it is made clear that the data is only to be used for the purposes of recording supporters who are donating to the Charity through an intermediary.
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**RISKS AND RESERVES**
## **RISKS AND RESERVES**
## **Risk Management**
## **Governance Risk**
- The Board of Trustees and Charity staff have the right skill set to oversee the Charity’s activities. Processes are in place to ensure we meet our statutory, regulatory and ethical obligations
The Board regularly reviews and discusses the major risks to which St George’s Hospital Charity is exposed, as detailed on a strategic risk register. The Senior Leadership Team and individual Sub-Committees of the Board are responsible for operational risk management and identification of the main strategic or emerging risks to be considered by the Board. The Risk Management Policy adopts best practice and is updated as part of the annual business planning cycle. The Charity’s risk management methodology identifies key risks, any existing mitigating controls, additional actions to be implemented and assigns a risk rating to each risk, based on impact, probability and assurance. Where appropriate, systems and procedures have been established to manage risks, and these are regularly reviewed. Regular extended assurance reviews provide independent assurance to management and Trustees that the Charity’s risk management, governance and internal control processes are operating effectively.
_Mitigation: The Charity has implemented a Trustee skills audit and an annual review of the Charity Governance Code, which was last reviewed in May 2021. The Code aims to ensure that the Trustees are made up of a range of people; both diverse in skills and background. Alongside this, the Charity commissioned an external Board Effectiveness Review during the year 2021/22. We also appointed three new Trustees in the same period._
## **External Risks**
- Continuing uncertainty around the global pandemic and potential for further outbreaks, may impact the Charity in a number of ways:
The key risks faced by the Charity during 2021/22 and the management actions taken to mitigate either the likelihood of a risk occurring or its possible impact continue to be shown as follows:
- [•] Continuing interruption to business operations means that staff are not able to access systems or premises
## **Reputation Risk**
_Mitigation: The Charity continues to review its Covid strategy as we continue to adapt to living with Covid._
- Risk that stakeholders perceive that the Charity is not meeting its charitable objects or that its service is not valuable or of high quality
- [•] Risk to fundraising income generation due to a change in the fundraising landscape, resulting in 2021/22 corporate objectives for income growth not being met
_Mitigation: Pro-active engagement with St George’s University Hospitals NHS Foundation Trust teams and other stakeholders to identify projects to be funded. Ensuring Charity staff have the skills and support they need to fulfil their roles. Annual Report and digital platforms include explanations of activities and how funds have been spent._
_Mitigation: Increased focus on alternative fundraising channels such as via digital methods and to seize opportunities to seek alternative sources of income._
- [•] Fall in investment values and potential returns
_Mitigation: Managed by careful portfolio construction and increased communication with our investment managers._
## **Meeting the Public Benefit Test**
The Trustees confirm they have referred to the guidance issued by the Charity Commission on public benefit when reviewing the Charity’s strategic aims and objectives, when setting the grant giving policy for the year and in planning future activities. The Charity is dedicated to ensuring that their support, through grant giving, is for the benefit of the patients, families, staff and the wider community served by the Trust.
## **Going Concern**
The Trustees have reviewed the financial position of the Charity, including forecast cash flows, liquidity position and existing and potential funding commitments for the next five years. The Trustees will only agree to commit to fund charitable activities and other capital projects when they are confident that these obligations can be met. As a consequence, the Trustees believe that there are adequate resources to continue in operation for the foreseeable future. Accordingly the Trustees consider it appropriate to prepare the financial statements on a going concern basis.
## **Investment Policy and performance**
The investment policy of the Charity is medium risk, with the Trustees’ first priority being to preserve capital in order to meet existing commitments and to generate income to meet operating expenditure as well as to increase our ability to make more grants available to the Trust and the communities we serve.
The Charity’s investments are managed by Investec Wealth & Investment, a reputable funds management company, which follows strict guidelines in line with the Charity’s moral and ethical policy. The Trustees wish to invest in a way that furthers the charitable objectives of the Charity with an emphasis on a proactive approach to sustainability and socially responsible investing.
The Trustees reserve the right to exclude companies that carry out activities contrary to their aims or from holding particular investments which damage the Charity’s reputation. To this effect, the Trustees wish to preclude direct investment in tobacco, armaments, alcohol and opioids, defined as companies with more than 10% of their turnover in these activities. Where third party funds are held, the fund is to have no more than 10% of the fund’s value invested in the above restrictions. The fund manager will take into account Environmental, Social and Governance (ESG) factors in their investment process and their investment selection. Investec’s Responsible Investment philosophy is that the understanding of Environmental Social and Governance (ESG) risk factors is fundamental and helps make better investment decisions. ESG analysis is used alongside effective Stewardship to complement conventional financial analysis.
The performance of the investment manager is closely monitored by the Trustees involving a requirement to provide quarterly reports on income and capital. The investment manager meets bi-annually with the Finance Sub-committee and more frequently when required. The portfolio is broadly split between shortterm fixed income bonds, equities and investments in alternative assets. The Trustees consider this appropriate given the current short-term nature of the Charity’s commitments and intentions to award funds to the Trust.
A policy of total return is pursued but with a slight bias towards income and performance, measured against a bespoke benchmark. The medium term total return target is CPI plus 3.5%. Over the past 5 years, an annualised total return of approximately 8.3% has been achieved, compared with the benchmark of 7.0%. Following meetings with the Charity’s investment advisers, since year-end, no change to the Investment Policy is proposed at present, but the Policy is being kept under regular review by the Trustees. Reflecting the changed conditions in investment markets, the total return target is likely to be revised later in the year.
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**RISKS AND RESERVES**
**RISKS AND RESERVES**
## **Investment strategy**
We must continue to invest in fundraising and grant making in order to sustain and grow our capability to support our strategic priorities and that of our partner, St George’s University Hospitals NHS Foundation Trust. Our intention is to significantly increase the levels of unrestricted income available to the Charity to respond to ongoing Trust needs, which will require significant upfront funding over the next 3 years. The Charity intends to continue its investment strategy for the Appeal which will see an increase in marketing and resource provision as we enter the public phase.
## **Reserves Policy**
The Trustees review the Charity’s reserves policy and the level of free reserves required on an annual basis, in line with Charity Commission guidance. They recognise the need to ensure that the reserves held enable financial stability, are adequate to meet working capital requirements and can safeguard the Charity’s current commitments against fluctuation in income levels and volatility in the financial markets. In particular, the Trustees wish to ensure that sufficient unrestricted reserves are available to guarantee that operations can continue over the short-term and that all financial commitments can be met.
The balance of general unallocated reserves at 31 March 2022 was £3.6m (2021: £3.9m). The current policy is to hold reserves in the range of £3.5m and £4m and therefore the current level of reserves is within that range.
Following considerable analysis and review, the Trustees have developed a revised strategy for unallocated general reserves for the 2022-23 policy. The Charity’s objective is to work with the Trust and other stakeholders to designate our charitable funds for use to meet our charitable objectives and thereby to reduce the level of unallocated general reserves through a process of designation during 2022/23.
The Trustees expect the application of this revised policy to result in a reduction in the level of unrestricted reserves to between £2.8m and £3.2m. This range has been arrived at using an assessment of operating costs and associated risks such as global economic instability. Given the gradual return to a more normal way of life following the pandemic the new policy would be in place from April 2023 and during this financial year we will continue to test and refine the required level of unallocated general reserves.
The Charity has various funds available to finance its activities:
## **Endowment fund**
The Charity holds one endowment fund, which has been granted in order to generate funds to support a specific charitable purpose. At 31 March 2022, the value of the endowment fund was £243k (2021: £233k).
## **Restricted funds**
Restricted funds consist of the unexpended balance of income received where the donor has defined what the money must be used for, or in response to a specific appeal or fundraising event. At 31 March 2022, the value of restricted funds was £6.5m (2021: £6.9m).
## **Unrestricted funds**
Unrestricted funds are expendable at the discretion of the Trustees for general charitable purpose relating to the following:
## **General funds (Free reserves)**
These are funds available for general use. They are held at a level to cushion the effects of the economic cycle and to provide a reasonable level of investment income within Charity Commission guidelines, in accordance with the Reserves Policy described above. At 31 March 2022, the value of general funds was £3.6m (2021: £3.9m).
## **Designated funds**
Designated funds are funds held where the donor has expressed a preference as to how the funds are to be spent but have allowed the Trustees discretion to use for general purposes. At 31 March 2022, the value of designated funds was £3.9m (2021: £3.7m). Designated funds comprise the following:
## Special purpose funds
Designated special purpose funds have been donated for a specific usage within the Charity’s objects, where the donor has allowed funds to be designated at the discretion of the Trustees in accordance with Charity Commission requirements. At 31 March 2022, the value of designated special purpose funds was £2.8m (2021: £2.7m).
Fixed asset funds (tangible and intangible) The Charity owns fixed assets, most of which form part of the Arts Collection. This collection is made up of a selection of fine art and sculptures displayed in wards and corridors and in the grounds around the hospitals and University as part of our Arts Therapy programme, making an important contribution to the quality of patient experience.
As these assets serve a charitable purpose and are not held as investments, they cannot be easily converted into funds for day-to-day use. Therefore, the Trustees have decided that reserves equating to the value of the fixed assets should be placed in a designated fund. If a decision is made to dispose of any of the collections, the attributable value is transferred from the fixed asset fund.
**36 Annual Report and Financial Statements 2021-22**
**www.stgeorgeshospitalcharity.org.uk 37**
**REFERENCE AND ADMINISTRATIVE DETAILS**
**STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered address**
## **Professional Advisors**
St George’s Hospital Charity St George’s Hospital Blackshaw Road London SW17 0QT
## **Investment Managers and Advisors**
Investec Wealth and Investment Ltd 2 Gresham Street London EC2V 7QN
## **Bank**
Charity number 1171195 Company number 10565339 Registered in England and Wales
National Westminster Bank PLC 282 London Road Mitcham London CR4 2ZP
## **Trustees as of 23 September 2022**
## **Independent Auditor**
Moore Kingston Smith LLP
**Anna Walker** (Chair) **Sarah Wilton** (Treasurer) **Georgina Greenspan** (appointed 1 June 2021) **Paul Hayward** (appointed 1 March 2022) **Schellion Horn Renuka Jeyarajah-Dent** (appointed 1 June 2021) **Katie Mantell**
6[th] Floor
9 Appold Street London EC2A 2AP
## **Solicitors**
Withers LLP 16 Old Bailey London EC4M 7EG
## **Zeynep Meric-Smith**
(retired 26 November 2021)
**Mike Rappolt Paul Sarfaty Tim Wright**
## **Senior Leadership Team as of 23 September 2022**
**Amerjit Chohan,** Chief Executive Officer **Diane Pearson** , Director of Operations **Helena Copsey,** Head of Arts **Vivien Gunn,** Head of Grants **Sarah McCullough** , Director of Fundraising and Communications
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
The Trustees (who are also the Directors for the purposes of company law) are responsible for preparing the Trustees’ annual report (including the strategic report) and the financial statements, in accordance with applicable law and regulations. In preparing this report, the Trustees have taken advantage of the small companies’ exemptions provided in part 15 of the Companies Act 2006 in preparing the directors’ report and from the requirement to prepare a strategic report.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions, and to disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Company law requires the Trustees to prepare financial statements for each financial year. Under that law, the Trustees have prepared the financial statements in accordance with FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice) and applicable law.
The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
In so far as the Trustees are aware at the time of approving our Trustees’ annual report:
Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity, including income and expenditure for that period. In preparing these financial statements, the Trustees are required to:
- there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the Charity’s auditor is unaware, and
- Select suitable accounting policies and then apply them consistently;
- the Trustees, having made enquiries of fellow directors and the Charity’s auditor that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
- Observe the methods and principles in the ‘Accounting and Reporting by Charities: Statement of Recommended Practice 2015’ (‘Charities SORP’);
- Make judgments 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
By order of the Trustees
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
## **Anna Walker**
Chair Friday 23 September 2022
**38 Annual Report and Financial Statements 2021-22**
**www.stgeorgeshospitalcharity.org.uk 39**
**FINANCIAL REVIEW**
## **FINANCIAL REVIEW**
## **OVERVIEW**
**The global pandemic continued into 2021/22 resulting in an ongoing challenging environment. Income in 2020/21 rose to an exceptional £4.2m largely due to an outpouring of public generosity. However, in 2021/22 income returned to pre-Covid levels of around £2.1m.**
**Trustee-approved strategy to diversify its income streams in order to take a more proactive strategic role in its grant-giving as well as respond to diverse funding requests. This approach will be reflected in the new multi-year strategy being developed in 2022/23 for 2023 and beyond. The investment gain for 2021/22 is £0.7m (2020/21: £2.4m).**
**The Charity’s role supporting the Trust during the pandemic saw its profile raised and subsequently Trustees and the Senior Leadership Team were keen to deliver even greater impact. The Charity has a strong financial position with net assets of £14.5m 2021/22 (2020/21: £15.0m) of which £3.6m is general unrestricted funds. The reduction in Net Assets by £500,000 from 2020/21 to 2021/22 was as a result of the Charity’s investment in staff, infrastructure and technology to achieve its ambitions of growth and to increase its service to beneficiaries. The Charity has been working with the Trust to launch its firstever, multi-year children’s appeal and a regular giving campaign in the next year, in an effort to increase its unrestricted funding. This is a major part of its**
## **Funding Sources 2021/22**
**----- Start of picture text -----**
Fundraising 2021/22 2020/21 2019/20
activities £’000 £’000 £’000
Donations 1,441 3,190 1,118
Legacies 126 392 274
Other 179 212 262
Sub Total 1,746 3,794 1,654
Investments 344 370 483
Total 2,090 4,164 2,137
**----- End of picture text -----**
**----- Start of picture text -----**
Income 69% 8% Income over three years
Donations Other
In the year to 31 March 2022, 6% 17% £5,000k
total income was £2.1m (2020/21: Legacies Investment
£4.2m). It should be noted that income
2020/21 included £1.2m funding from £4,000k
NHS Charities Together, £603,000
from the Charity’s Covid Appeal
and £465,000 from Gifts in Kind
£3,000k
which explains why 2020/21 was
an exceptional year. The underlying
fundraising income increased
£2,000k
slightly at £1.8m compared to INCOME
£1.7m for 2020/21, excluding 2021/22
Covid-related income. Given the
challenges of the continuation of £1,000k
the Covid pandemic and economic
uncertainty, this is to be celebrated.
£0k
2021/22 2020/21 2019/20
**----- End of picture text -----**
## **Income over three years**
## **Charitable activities 2021/22**
**----- Start of picture text -----**
Grants Grants Other
awarded Retracted* costs** Total Total Total
2021/22 2021/22 2021/22 2021/22 2020/21 2019/20
Type of activity £’000 £’000 £’000 £’000 £’000 £’000
Arts 25 - 10 35 98 -
Capital Projects 39 (68) (13) (42) 334 272
Community - - - - 943 -
Medical Equipment 87 (47) 18 58 567 348
Patient and 470 (75) 181 576 597 745
Family Experience
Research 1,133 (1) 519 1,651 567 434
Staff Development 206 (41) 76 241 453 319
and Welfare
Total 1,960 (232) 791 2,519 3,559 2,118
**----- End of picture text -----**
**Expenditure 2% 22% Charitable expenditure Medical Patient and Family over three years** Total expenditure for the year **Equipment 2% Experience** was £3.3m (2020/21: £4.2m). **Capital** £4,000k Of this £2.5m (2021/22: £3.6m) **Projects** has been spent on, or committed to, **1%** charitable activities. The decrease **Arts** is due to levels of income and £3,000k expenditure returning to pre-Covid levels which meant that funding for community projects was not available whereas in 2020/21 over £2,000k £0.8m was awarded to community projects in six boroughs across **EXPENDITURE** south west London. Our largest **2021/22** single award in 2021/22 of £0.82m. £1,000k is for research into neuro intensive care enabled by a generous bequest. The detailed split of the grants awarded during the year is provided £0k on this page. The total cost of **10%** raising funds is £0.8m (2020/21: **Staff Development 63%** £0.6m) an increase of £0.2m. **and Welfare Research** This marks the beginning of an intended investment in fundraising source of generating higher levels of unrestricted income for the Charity. and infrastructure to meet the Trustees made provision for this growth in 2021/22 through the creation ambitions of the forthcoming of additional posts in fundraising and the start-up funds needed to prepare year: the delivery of a children’s for the launch of the children’s appeal. This year we also grew our grants appeal and the implementation of department to ensure we can effectively fulfil our grant making ambitions a regular giving programme as a and nurture enhanced relationships with clinical colleagues.
> * Grants retracted include balances accrued in previous years and now not owing by the Charity as well as return of grants previously awarded that have not been fully used.
> **[ Other costs are the allocation of costs incurred by the Charity to support ] and facilitate these charitable activities.
**40 Annual Report and Financial Statements 2021-22**
**www.stgeorgeshospitalcharity.org.uk 41**
**INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST GEORGE’S HOSPITAL CHARITY**
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST GEORGE’S HOSPITAL CHARITY**
## **Opinion**
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
We have audited the financial statements of St George’s Hospital Charity (‘the company’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
## In our opinion the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Other information**
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained
in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Trustees’ annual report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ annual report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to take advantage of the small companies exemption from preparing a Strategic Report.
## **Responsibilities of Trustees**
As explained more fully in the Trustees’ responsibilities statement set out on page 39, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate
**42 Annual Report and Financial Statements 2021-22**
**www.stgeorgeshospitalcharity.org.uk 43**
**INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST GEORGE’S HOSPITAL CHARITY**
**INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF ST GEORGE’S HOSPITAL CHARITY**
to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company’s internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.
- Conclude on the appropriateness of the Trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud**
Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.
## Our approach was as follows:
- We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council.
- We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance.
- We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.
- We inquired of management and those charged with governance as to any known instances of noncompliance or suspected non-compliance with laws and regulations.
- Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
**Neil Finlayson** (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor
6[th] Floor 9 Appold Street London EC2A 2AP
23 September 2022
**44 Annual Report and Financial Statements 2021-22**
**www.stgeorgeshospitalcharity.org.uk 45**
**STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
**BALANCE SHEET AS AT 31 MARCH 2022**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
**----- Start of picture text -----**
Notes Unrestricted Restricted Endowment Total Total
Funds Funds Funds 2022 2021
£’000 £’000 £’000 £’000 £’000
INCOME AND ENDOWMENTS:
Donations and legacies 2.1 836 731 - 1,567 3,582
Charitable activities 2.2 - 160 - 160 197
Other trading activities 2.3 12 7 - 19 15
Investment income 2.4 197 147 - 344 370
Total Income and
Endowments 1,045 1,045 - 2,090 4,164
EXPENDITURE ON:
Raising funds 3.1 760 29 - 789 619
Charitable activities:
Patient and Family Experience 414 162 - 576 597
Staff welfare and motivation 131 110 - 241 453
Research 186 1,465 - 1,651 567
Capital Projects (27) (15) - (42) 334
Medical Equipment 16 42 - 58 567
Community - - - - 943
Arts 28 7 - 35 98
Charitable activities 3.2 748 1,771 - 2,519 3,559
Total Expenditure 1,508 1,800 - 3,308 4,178
Net gains/(losses) on 359 306 10 675 2,384
investments
Net Income/(Expenditure) (104) (449) 10 (543) 2,370
Transfers between funds 14 (104) 104 - - -
Net movement in funds (208) (345) 10 (543) 2,370
RECONCILIATION OF FUNDS:
Fund balances brought 7,939 6,864 233 15,036 12,666
forward at 1 April
Fund balances carried 7,731 6,517 243 14,493 15,036
forward at 31 March
**----- End of picture text -----**
Notes 1 to 18 form part of these accounts.
All income relates to continuing activities.
There is no material difference between the net income of the year and the historical cost equivalents.
## **BALANCE SHEET AS AT 31 MARCH 2022**
**----- Start of picture text -----**
Notes 31 March 31 March
2022 2021
£’000 £’000
FIXED ASSETS:
Tangible fixed assets 7 1,288 1,274
Intangible fixed assets 8 - 4
Investments 9 16,087 15,233
Total Fixed Assets 17,375 16,511
CURRENT ASSETS:
Stock - 12
Debtors: amounts falling due within one year 10 57 475
Cash at bank and in hand 489 1,785
Total Current Assets 546 2,272
LIABILITIES:
Creditors: amounts falling due within one year 11 3,428 3,747
Net Current Liabilities (2,882) (1,475)
Total net assets 14,493 15,036
THE FUNDS OF THE CHARITY:
Endowment Funds 14.1 243 233
Funds:
Restricted 14.2 6,517 6,864
Unrestricted
General 14.3 3,582 3,948
Designated 14.3 3,888 3,728
Revaluation Reserve 263 263
Total Funds 14,493 15,036
**----- End of picture text -----**
The financial statements on pages 46 to 66 were approved by the Board of Trustees on 23 September 2022 and signed on its behalf by
**Anna Walker** Chair
**46 Annual Report and Financial Statements 2021-22**
**www.stgeorgeshospitalcharity.org.uk**
**47**
**STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022**
**----- Start of picture text -----**
Total Total
2022 2021
£’000 £’000
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (expenditure) / income for the financial year (543) 2,370
Adjustments for:
Amortisation of intangible assets 4 4
(Gains) on investments (675) (2,384)
Dividends and interest from investments (344) (370)
Decrease / (Increase) in debtors 418 (132)
Decrease / (Increase) in stock 12 (12)
(Decrease) / Increase in creditors (319) 1,311
Net cash (used in) / provided by operating activities (1,447) 787
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of investments 4,560 2,477
Purchase of tangible and intangible assets (14) -
Purchase of investments (4,738) (2,194)
Dividends and interest from investments 344 370
Net cash provided by investing activities 152 653
Change in cash and cash equivalents in the reporting period (1,295) 1,440
Cash and cash equivalents at beginning of reporting period 1,785 345
Cash and cash equivalents at end of year 489 1,785
**----- End of picture text -----**
The Charity has no net debt and accordingly no net debt note is presented.
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. Accounting Policies**
The Trustees have reviewed the financial position of the Charity, including forecast cash flows, liquidity position and existing and potential funding commitments for the next five years. The Charity’s fundraising streams are continuing to diversify and a drop in any one channel would not adversely affect the ability to meet existing financial commitments. The Trustees will only agree to commit to fund charitable activities and other capital projects when they are confident that these obligations can be met. As a consequence, the Trustees believe that there are adequate resources to continue in operation for the foreseeable future. The Trustees have also reviewed their Covid procedures at year end and are satisfied that the existing procedures remain reasonably adequate. Accordingly the Trustees consider it appropriate to prepare the financial statements on a going concern basis.
## 1.1. BASIS OF PREPARATION AND ASSESSMENT OF GOING CONCERN
The financial statements are prepared in accordance with the Charities Act 2011, the ‘Accounting and Reporting by Charities: Statement of Recommended Practice 2015’ (‘Charities SORP’) published in July 2014, applicable accounting and reporting standards in the United Kingdom, including Financial Reporting Standard 102, ‘The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’ (‘FRS 102’), and the Companies Act 2006. The particular accounting policies adopted by the Board of Trustees are applied consistently year on year and are described herein.
The financial statements are prepared on a ‘going concern’ basis, under the historical cost convention as modified by the revaluation of investments and the art collections measured at fair value.
## **1.1.2. Critical accounting judgements and estimation uncertainty**
The Charity meets the definition of a public benefit entity under FRS 102.
In the application of the Charity’s accounting policies, Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are continually reviewed. Revisions to accounting estimates are recognised in the period to which they relate. The key sources of estimation are summarised below:
The accounts have been presented in pounds sterling and are rounded to the nearest £1,000.
## **1.1.1. Going concern**
The Charity meets its day-to-day working capital requirements through its bank facilities. The Charity’s forecasts and projections, taking account of possible changes in performance, show that the Charity should be able to operate within the level of its current facilities. The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future.
- Legacies – where the Charity has received notifications from executors of a legacy, an estimate is made for the value of the legacy due. There is estimation uncertainty on the accrued legacy income of £15k (2020/21: £78k) due to the judgemental nature of determining the exact amount to include.
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**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## 1.2. ACCOUNTING POLICIES
## **1.2.1. Income recognition**
Income, including legacies, is recognised in the statement of financial activities when all of the conditions for receipt have been met: there is entitlement to the funds, any performance conditions attached to the grants have been met, it is probable the funds will be received and the funds can be reliably measured. Gifts in-kind are recognised at their value to the Charity when received and an equivalent amount is included in the appropriate category of expenditure.
## **1.2.2. Expenditure recognition**
The financial statements are prepared in accordance with the accruals concept. All expenditure is recognised once there is a legal or constructive obligation to make payment to a third party.
## **Expenditure on raising funds**
Expenditure on raising funds includes the cost of generating voluntary income and the cost of managing the Charity’s investment portfolios, shown as investment management costs.
## **Expenditure on charitable activities**
Expenditure on charitable activities includes all costs incurred in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the Charity apportioned to its charitable activities.
Charitable activities consist of grants payable to third parties in furtherance of the charitable objectives. They are accounted for on an accruals basis where the conditions for their payment have been met or where a third party has a reasonable expectation that they will receive the grant. Contributions to the NHS Trust’s capital programme are recognised on the same basis.
The Charity’s policy is that if a grant is not spent within one year then it will be written back.
## **1.2.3. Allocation and apportionment of**
## **costs and income**
Support costs, which include governance costs, relate to those functions that assist the work of the Charity but are not directly undertaking charitable activities or fundraising. These costs are apportioned between the cost of raising funds and expenditure on charitable activities based mainly on the estimated proportion of staff time engaged in these activities. Investment income and gains and losses are apportioned to each fund on the basis of the average balances of the underlying assets.
## **1.2.4. Fund accounting**
Unrestricted funds are those funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. They are divided between General funds, where there are no constraints on how the Trustees may use these funds, and Designated funds where funds have been set aside by the Trustees, who need to have due regard for donors’ wishes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for specific purposes.
The Charity holds one endowment fund, in which the capital is held in perpetuity, where any related investment gains or losses generated may be used to support a specific charitable purpose.
## **1.2.5. Fixed assets**
## **Intangible assets**
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using straight-line method. Software development costs are amortised over 4 years to match their useful economic life.
## **Tangible assets**
The only tangible fixed assets currently held by the Charity are works of art. These are not depreciated but are included at estimated market value based on valuations made every five years, with impairment reviews undertaken as necessary in accordance with the Statement of Recommended Practice 2015. The latest valuation was completed for the year ended 31 March 2018 by Tim Ritchie and Associates Ltd, Fine Arts Valuers and Consultants. The assets were revalued to their fair value, which was assessed as the retail replacement value for purchased artworks and the open market value for heritage items. Any works of art purchased subsequently are included at cost until the next valuation. Donations of works of art received are included at a valuation provided by the Arts Manager and then revalued in accordance with the above policy. The Trustees are satisfied that the valuation at 31 March 2022 is not materially different to the 31 March 2018 valuation figure.
## **1.2.6. Fixed asset investments**
Investments are included at closing mid-market value at the balance sheet date. Any realised and unrealised gains and losses on revaluation are combined in ‘net gains and losses on investment’ within the Statement of Financial Activities. Income from investments is included in the year in which it is received by the investment managers. Cash held by the investment managers for the purpose of re-investment is included in fixed asset investments.
## **1.2.7. Debtors**
Trade and other debtors are recognised at the settlement amount due and prepayments are valued at the amount prepaid.
## **1.2.8. Cash at bank and in hand**
Cash at bank includes amounts paid in before the year end but credited to the bank account after the year end.
## **1.2.9. Liabilities**
Liabilities include amounts owing to third party creditors and accruals, and constructive obligations to one of the beneficiary organisations in the form of an agreement to pay a grant.
Creditors and provisions are normally recognised at their settlement amount.
## **1.2.10. Financial instruments**
Basic financial instruments are recognised at transaction value and subsequently measured at settlement value. The Charity does not hold any bank loans at the year end.
## **1.2.11 Subsidiary company**
The Charity owns all the shares in a dormant company, St George’s Trading Limited (Company Number 3481144). The issued share capital of the company is £5. This company is being retained as it might be used to facilitate future trading activities, the profits from which would be donated to the Charity.
## **1.2.12. Pension contributions**
Employees are members of a defined contribution pension scheme. Contributions are chargeable to the Statement of Financial Activities in the period to which they relate.
## **1.2.13. Taxation**
St George’s Hospital Charity as a registered charity is exempt from income tax under part 10 of the Income Tax Act 2007 or Section 256 of the Taxation of the Chargeable Gains Act 1992, to the extent that surpluses are applied to its charitable purposes.
The Charity is not registered for Value Added Tax. Any irrecoverable Value Added Tax is charged to the Statement of Financial Activities as a cost against the activity for which the expenditure was incurred, or capitalised as part of the related asset, where appropriate.
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**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1.2.14. Revaluation reserve**
The revaluation reserve contains the gains made by the Charity arising from increases in the fair value of its tangible fixed assets. The balance is reduced when assets with accumulated gains are revalued downwards or impaired and the gains are lost or disposed of and the gains are realised.
The reserve contains only revaluation gains accumulated since 1 April 2016, the date of transition to FRS 102, as the Charity elected to use transition provision permitted by section 35 of FRS 102 to use fair value as at 31 March 2016 determined under old UK GAAP as the deemed cost on transition.
## **2. Income**
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Unrestricted Restricted Endowment Total at Total at
Funds Funds Funds 31 March 2022 31 March 2021
£’000 £’000 £’000 £’000 £’000
2.1. DONATIONS AND LEGACIES:
Direct gifts from individuals and trusts 288 410 - 698 1,818
Legacies 57 69 - 126 392
Community fundraising 489 251 - 740 1,347
Corporate, campaigns, events and other income 2 1 - 3 25
Total income from donations and legacies 836 731 - 1,567 3,582
2.2. CHARITABLE ACTIVITIES:
Grants - 160 - 160 197
Total income from charitable activities - 160 - 160 197
2.3. OTHER TRADING ACTIVITIES:
Course fees, sponsorship and other income 12 7 - 19 15
Total income from other trading activities 12 7 - 19 15
2.4. INVESTMENT INCOME:
Dividends and interest receivable 197 147 - 344 370
Total income from investments 197 147 - 344 370
Total income and endowments 1,045 1,045 - 2,090 4,164
**----- End of picture text -----**
## **3. Expenditure**
**----- Start of picture text -----**
Direct Allocated Total at Total at
costs support costs 31 March 2022 31 March 2021
£’000 £’000 £’000 £’000
3.1. RAISING FUNDS:
Donations, legacies and grants 314 408 722 558
Investment management costs 67 - 67 61
Total cost of raising funds 381 408 789 619
**----- End of picture text -----**
**----- Start of picture text -----**
Direct Other Allocated Total at Total at
costs adjustments support costs 31 March 2022 31 March 2021
£’000 £’000 £’000 £’000 £’000
3.2. CHARITABLE ACTIVITIES:
Arts 25 - 10 35 98
Capital projects 39 (68) (13) (42) 334
Community - - - - 943
Medical equipment 87 (47) 18 58 567
Patient and family experience 470 (75) 181 576 597
Research 1,133 (1) 519 1,651 567
Staff development and motivation 206 (41) 76 241 453
Total charitable activities 1,960 (232) 791 2,519 3,559
Other adjustments include balances accrued in previous years that are now not owing by the Charity, as well as the return of grants previously awarded that have
not been fully used.
IT and Total at Total at
Staff costs communications Other 31 March 2022 31 March 2021
£’000 £’000 £’000 £’000 £’000
3.3. ALLOCATED SUPPORT COSTS:
Cost of raising funds 277 20 112 408 227
Arts 7 - 3 10 14
Capital projects (9) - (4) (13) 46
Community - - - - 131
Medical equipment 12 1 5 18 78
Patient and family experience 123 7 50 180 82
Research 352 25 42 20 78
Staff development and welfare 51 4 21 76 63
Total allocated support costs 813 57 329 1,199 719
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Allocated support costs include the costs of the following departments: Finance, Information Technology, Human Resources, Administration and Business Support. Total support costs have been apportioned over other resources expended on the basis of staff time.
A proportion of support costs were allocated to the Cost of raising funds, which was apportioned on the basis of staff time spent supporting this activity, in line with FRS 102.
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**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
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Total at Total at
31 March 2022 31 March 2021
£’000 £’000
3.4. GOVERNANCE COSTS (INCLUSIVE OF VAT):
Auditors remuneration for audit services 16 14
Indemnity insurance for Trustee liability 1 1
Internal audit 5 11
Annual report 12 12
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## **4. Grant Funded Activities**
Grant funded activities includes charitable activities as set below.
**----- Start of picture text -----**
Total at Total at
31 March 2022 31 March 2021
£’000 £’000
NAME OF RECIPIENT:
St George's University Hospitals NHS Foundation Trust 1,010 1,982
St George's, University of London 940 343
Communities 10 812
Total 1,960 3,137
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## **5. Analysis of staff numbers, staff costs and remuneration of key management personnel**
**----- Start of picture text -----**
2022 2021
No. of staff FTE No. of staff FTE
5.1 STAFF NUMBERS:
The * FTE average number of employees is split as follows:
Fundraising 7 6 7 6
Management and administration 13 12 8 8
Total 20 18 15 14
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*FTE = full time equivalent
- ** Increase in staff numbers in accordance with the investment agreed by Trustees
## 5.2 ANALYSIS OF STAFF COSTS
**----- Start of picture text -----**
Total at Total at
31 March 2022 31 March 2021
£’000 £’000
Salaries and wages 888 641
Social security costs 86 64
Pension costs 47 32
Ex-gratia and redundancy - 32
Total emoluments of employees 1,020 769
**----- End of picture text -----**
Salaries and wages includes £nil (2020/21: £32k) ex-gratia payment to a senior executive.
All members of staff are enrolled in a defined contribution pension scheme that is compliant with auto-enrolment.
Principally reflect the strengthening of our Grants Function.
## 5.3 KEY MANAGEMENT PERSONNEL
The Senior Leadership Team consists of the 5 posts shown on page 38. The total remuneration for these posts in 2021/22 was £464k (2020/21: £447k).
The following number of senior employees received emoluments falling within the following range:
**----- Start of picture text -----**
2022 2021
Number of Number of
Staff Staff
£60,000 - £69,999 1 2
£90,000 - £99,999 1 1
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## **6. Trustees expenses and remuneration**
None of the Trustees received any remuneration from the Charity during the current financial year (2020/21: £nil). No Trustees were reimbursed for expenses incurred while carrying out their responsibilities for the Charity during the year (2020/21 - £nil).
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**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **7. Tangible fixed assets**
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31 March 31 March
2022 2021
£’000 £’000
HERITAGE ASSETS - Cost and Valuation:
Balance as at 1 April 1,274 1,274
Additions 14 -
Net Book Value at 1 April and 31 March 1,288 1,274
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## 7.1 FIVE YEAR FINANCIAL SUMMARY OF HERITAGE ASSETS TRANSACTIONS
**----- Start of picture text -----**
2021/22 2020/21 2019/20 2018/19 2017/18
£’000 £’000 £’000 £’000 £’000
ADDITIONS:
Purchases 8 - - - 35
Donations 6 - - 21 -
Revaluation - - - - 263
Total Additions 14 - - 21 298
DISPOSALS:
Carry value - - - - -
Sales proceeds - - - - -
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The artworks are held entirely in pursuance of the charitable objects of the Charity – for the benefit of patients and staff in St George’s University Hospitals NHS Foundation Trust and also the staff and students at St George’s, University of London. In accordance with our accounting policy depreciation has not been charged.
## **8. Intangible fixed assets**
**----- Start of picture text -----**
31 March 2022 31 March 2021
£’000 £’000
COST :
Balance as at 1 April and 31 March 151 155
ACCUMULATED DEPRECIATION:
Balance as at 1 April (151) (148)
Charge in the year (4) (3)
Balance as at 31 March (155) (151)
Net Book Value at 31 March - 4
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## **9. Fixed asset investments**
**----- Start of picture text -----**
Total 31 Total 31
March 2022 March 2021
£’000 £’000
9.1 MOVEMENT IN FIXED ASSET INVESTMENTS:
Market value at 1 April 15,233 13,132
Less:
Disposal proceeds (4,560) (2,477)
Add:
Acquisitions at cost 4,432 2,188
Net cash reinvested / (withdrawn) 307 6
Net gain / (loss) on revaluation 675 2,384
Market value at 31 March 16,087 15,233
Historic cost at 31 March 12,520 11,145
9.2 MARKET VALUE :
Investments assets in the UK 9,773 11,042
Investments assets outside the UK 6,314 4,191
Total fixed asset investments 16,087 15,233
**----- End of picture text -----**
## 9.3 INVESTMENT PORTFOLIO
**----- Start of picture text -----**
31 March 2022 31 March 2021
Total Total Total Total
£’000 % £’000 %
Fixed interest bonds 2,170 13.5 2,209 14.5
UK equities 4,677 29.1 6,505 42.7
Overseas equities 5,687 35.3 3,581 23.5
Property and alternative assets 3,553 22.1 2,938 19.3
Total 16,087 100.0 15,233 100.0
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## 9.4. INVESTMENT POWERS
The Charity Commission Scheme dated 18 August 1998 gives the Charity unrestricted investment powers to manage its own portfolio.
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**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **10. Debtors**
**----- Start of picture text -----**
31 March 2022 31 March 2021
£’000 £’000
Accrued income 16 463
Other debtors 41 12
Total debtors falling due within one year 57 475
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## **11. Creditors: amounts falling due within one year**
**----- Start of picture text -----**
31 March 2022 31 March 2021
£’000 £’000
Trade creditors 146 103
Grant creditors 3,060 3,347
Deferred income 14 76
Other creditors 208 221
Total Creditors falling due within one year 3,428 3,747
**----- End of picture text -----**
## **12. Grants awarded**
**----- Start of picture text -----**
Notes 31 March 2022 31 March 2021
£’000 £’000
Outstanding liabilities at 1 April 3,347 2,121
Awarded during the year 4 1,960 3,137
Paid during the year (2,015) (1,841)
Adjustments in the year 3.2 (232) (70)
Outstanding liabilities at 31 March 11 3,060 3,347
Grant amounts falling due
within one year 3,060 3,347
Total 11 3,060 3,347
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Liabilities for grants awarded represent the unpaid balance on grants awarded by the Charity as at the balance sheet date. They relate to current activities funded by the Charity to which it is firmly committed. Adjustments in the year relate to grants retracted.
## **13. Analysis of net assets between funds**
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Unrestricted Restricted Endowment 31 March 2022
General Designated Total funds
£’000 £’000 £’000 £’000 £’000
FUND BALANCES AT 31 MARCH 2022 ARE REPRESENTED BY:
Tangible and intangible - 1,288 - - 1,288
fixed assets
Intangible Assets
Investments 5,749 2,842 7,253 243 16,087
Current assets and (2,176) 24 (730) - (2,882)
liabilities
Total net assets 3,573 4,154 6,523 243 14,493
13. Analysis of net assets between funds
– comparative figures at 31 March 2021
Unrestricted Restricted Endowment 31 March 2021
General Designated Total funds
£’000 £’000 £’000 £’000 £’000
FUND BALANCES AT 31 MARCH 2021 ARE REPRESENTED BY:
Tangible and intangible - 1,278 - - 1,278
fixed assets
Investments 5,355 2,690 6,955 233 15,233
Current assets and
liabilities (1,408) 24 (91) - (1,475)
Total net assets 3,948 3,991 6,864 233 15,036
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**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **14. Charity funds**
**----- Start of picture text -----**
Balance Transfers Gains and Balance
31 March 2021 Income Expenditure between Funds losses 31 March 2022
£’000 £’000 £’000 £’000 £’000 £’000
14.1 ENDOWMENT FUNDS:
William A Amanet Bequest 233 - - - 10 243
Total endowment funds 233 - - - 10 243
14.2 RESTRICTED FUNDS:
Special Purpose Funds:
Cancer and oncology 473 41 (65) - 21 470
Cardiology 259 154 (144) - 4 273
Children and women 531 127 (58) (58) 25 567
Community and nursing 453 56 (17) - 20 512
Medical 493 56 (29) 1 22 543
Neurosciences 99 8 23 - 5 135
Outpatients - 6 - - - 6
Research 1,235 138 (243) - 50 1,180
Surgical and ICU 470 58 (59) 1 22 492
Therapy and rehabilitation 50 40 (16) 1 3 78
Total Special Purpose Funds 4,063 684 (608) (55) 172 4,256
Other Awards 63 8 (16) - 1 56
Arts - 36 - - - 36
Grants - 23 (1) - - 22
Legacy 2,149 69 (1,033) - 88 1,273
Appeals 588 225 (143) 159 45 874
Total restricted funds 6,864 1,045 (1,801) 104 306 6,517
**----- End of picture text -----**
## **14. Charity funds** (continued)
**----- Start of picture text -----**
Balance Transfers Gains and Balance
31 March 2021 Income Expenditure between Funds losses 31 March 2022
£’000 £’000 £’000 £’000 £’000 £’000
14.3 UNRESTRICTED FUNDS:
General funds 3,948 373 (979) (2) 242 3,582
DESIGNATED FUNDS - SPECIAL PURPOSE FUNDS:
Cancer and oncology 147 11 (13) - 7 152
Cardiology 163 36 (29) - 8 178
Children and women 172 96 (38) - 11 241
Community and nursing 225 9 (13) - 7 228
Covid appeal and
NHSCT funding 329 3 (212) - - 121
Medical 623 94 (70) - 29 676
Neurosciences 206 16 (18) - 11 215
Regular Giving project - - - 394 - 394
Research 417 14 (82) - 15 364
Surgical and ICU 196 16 (20) - 10 202
Thank You
George’s appeal 211 371 (37) (497) 19 67
Therapy and
rehabilitation 1 - - - - 1
Total Special Purpose
Funds 2,690 666 (532) (102) 117 2,839
Other designated funds:
Fixed asset funds 1,038 6 5 - - 1,049
Total Other
Designated Funds 1,038 6 5 - - 1,049
Revaluation reserve 263 - - - - 263
Total unrestricted funds 7,939 1,045 (1,506) (104) 359 7,733
Total funds 15,036 2,090 (3,307) - 675 14,493
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The fixed asset fund represents the value of general funds invested in the art collections which are not, by nature of fixed assets, readily available for use for other purposes.
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**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **14. Charity funds – comparative figures at 31 March 2021** (continued)
**----- Start of picture text -----**
Balance Transfers Gains and Balance
31 March 2020 Income Expenditure between Funds losses 31 March 2021
£’000 £’000 £’000 £’000 £’000 £’000
14.1 ENDOWMENT FUNDS:
William A Amanet Bequest 185 - - 12 36 233
Total endowment funds 185 - - 12 36 233
14.2 RESTRICTED FUNDS:
Special Purpose Funds:
Cancer and oncology 349 66 (31) 21 68 473
Cardiology 213 167 (178) 11 46 259
Children and women 422 45 (45) 26 83 531
Community and nursing 377 34 (48) 23 67 453
Medical 342 94 (34) 27 64 493
Neurosciences 79 5 (5) 5 15 99
Research 1,197 319 (558) 74 203 1,235
Surgical and ICU 344 82 (47) 21 70 470
Therapy and rehabilitation 40 3 (5) 3 9 50
Total Special Purpose Funds 3,363 815 (951) 211 625 4,063
Other, including legacies 2,524 477 (272) (456) 528 2,801
Total restricted funds 5,887 1,292 (1,223) (245) 1,153 6,864
**----- End of picture text -----**
## **14. Charity funds – comparative figures at 31 March 2021** (continued)
**----- Start of picture text -----**
Balance Transfers Gains and Balance
31 March 2020 Income Expenditure between Funds losses 31 March 2021
£’000 £’000 £’000 £’000 £’000 £’000
14.3 UNRESTRICTED FUNDS:
General funds 3,575 204 (816) 129 856 3,948
DESIGNATED FUNDS - SPECIAL PURPOSE FUNDS:
Cancer and oncology 115 9 (7) 7 23 147
Cardiology 106 39 (13) 6 25 163
Children and women 118 43 (28) 9 30 172
Community and nursing 194 8 (10) 10 23 225
Covid appeal and 41 2,223 (1,935) - - 329
NHSCT funding
Medical 489 58 (49) 31 94 623
Neurosciences 138 37 (12) 10 33 206
Research 370 22 (56) 21 60 417
Surgical and ICU 142 25 (13) 10 32 196
Thank You - 204 (13) - 20 211
George’s appeal
Therapy and
rehabilitation 1 - - - - 1
Total Special Purpose
Funds 1,715 2,668 (2,136) 104 339 2,690
Other designated funds:
Fixed asset funds 1,042 - (4) - - 1,038
Total Other
Designated Funds 1,042 - (4) - - 1,038
Revaluation reserve 263 - - - - 263
Total unrestricted funds 6,594 2,872 (2,955) 233 1,195 7,939
Total funds 12,666 4,164 (4,178) - 2,384 15,036
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The fixed asset fund represents the value of general funds invested in the art collections which are not, by nature of fixed assets, readily available for use for other purposes.
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**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **14. Charity funds** (continued)
**----- Start of picture text -----**
ENDOWMENT FUNDS:
Name of fund Description of the nature and purpose of each fund
William A Amanet Bequest Capital in perpetuity bequests for specific research purposes.
RESTRICTED FUNDS:
**----- End of picture text -----**
|**14. Charity funds**(continued)||
|---|---|
|ENDOWMENT FUNDS:
**Name of fund**|**Description of the nature and purpose of each fund**|
|William A Amanet Bequest|Capital in perpetuity bequests for specifc research purposes.|
|RESTRICTED FUNDS:||
|**Details of funds**|**Description of the nature and purpose of each fund**|
|Cancer and oncology|To support development of cancer and oncology treatments.|
|Cardiology|To support all areas of the cardiology department to beneft patients.|
|Children and women|To provide funds for family support and children's play services.|
|Community and nursing|To support community services including Queen Mary’s Hospital.|
|Medical|To support all areas of medicine not under the other directorates.|
|Neuroscience|To advance neurosciences at St George’s Hospital.|
|Outpatients|To support staff and outpatients and facilitate service improvement.|
|Research|To fund medical research projects.|
|Surgical and ICU|To support patients' experience and staff development
for surgical and ICU.|
|Therapy and rehabilitation|To support the therapy treatments and rehabilitation of patients.|
|||
## **Unrestricted and designated funds**
The Fixed asset fund includes the value of general funds invested in the art collection and other assets of the Charity which are not, by nature of fixed assets, readily available for use for other purposes. The Revaluation reserve represents the increase in the value of the art collection at the last formal valuation. The Strategic fund represents amounts designated for the replacement or refurbishment of assets belonging to the Charity and for the development of the Charity; the fund was fully utilised and closed during the prior year.
## Transfers between funds represent:
- Where subsequent instructions are received from a donor restricting income that was originally received with no restrictions.
- Where two restricted funds have a common purpose, transfers may be made to support an individual project which matches their restriction.
- Where there has been a change in policy to prior year allocations of support costs, investment income and investment gains or losses.
## **15. Commitments, liabilities and provisions**
The Charity does not have any other commitments, liabilities or provisions requiring disclosure other than those included in the financial statements (2020/21: £nil).
## **16. Related party transactions**
During the year none of the Trustees or members of the key management staff or parties related to them has been involved in any material transactions with St George’s Hospital Charity. Board members (and other senior staff) take decisions on both policy and financial matters, but do not seek to benefit personally from such decisions. Declarations of personal interest have been made in both capacities and are available to be inspected by the public. There were no transactions with other entities in which either Trustees or senior employees of the Charity hold positions of authority other than as described below.
**----- Start of picture text -----**
2022 2021 Details of
Related party Connected party Relationship £'000 £'000 transaction
St George’s Timothy Wright Timothy Wright currently serves as a 1,010 1,982 Grants made
University and Sarah Non-Executive Director for St George’s to St George's
Hospitals NHS Wilton University Hospitals Foundation Trust Hospital
Foundation Trust
Sarah Wilton served as a Non-Executive
Director for St George’s University
Hospitals Foundation Trust until 31 1,634 1,878 St George's
January 2020 Hospital
Creditors
outstanding
St George’s, Sarah Wilton Sarah Wilton currently serves as an 940 343 Grants made
University of Independent Member of the Council to St George’s,
London of St George’s, University of London University of
(appointed 1 October 2020) London
1,398 722 St George’s,
University
of London
Creditors
outstanding
Paul’s Cancer Sarah Wilton Sarah Wilton served as a Trustee of Paul’s - 5 Grants
Support Centre Cancer Support Centre until 11 May awarded to
2021 Paul’s Cancer
Support Centre
NHS Charities Amerjit Chohan, Amerjit Chohan currently serves as a 75 1,155 Direct gifts
Together Chief Executive Trustee on the Board of NHS Charities received from
Together NHS Charities
Together
St George’s The Charity owns all the shares in a dormant company, St George’s Trading Limited (Company Number 3481144).
Trading Limited The issued share capital of the company is £5. This company is being retained as it might be used to facilitate future
trading activities, the profits from which would be donated to the Charity.
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The total amount of donations received from related parties, without conditions, was £3,904 (2020/21: £7,149).
**64 Annual Report and Financial Statements 2021-22**
**www.stgeorgeshospitalcharity.org.uk 65**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **17. Contingent asset**
In 2019/20, the Becht Foundation awarded a grant of £1.25m to the Charity for the Advanced Ventricular Arrhythmia Training and Research programme. The receipt of grant funding will be released annually over seven years, with each tranche being contingent on meeting milestones and a report being submitted and approved by the Board of the Becht Family Charitable Trust. Income will be recognised on their approval of each tranche. So far, the Charity has received £450k of which £150k was received in 2021/22 (2020/21: £150k).
## **18. Comparative Statement of Financial Activities for the year ended 31 March 2021**
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Unrestricted Restricted Endowment Total
Funds Funds Funds 2021
Notes £’000 £’000 £’000 £’000
INCOME AND ENDOWMENTS:
Donations and legacies 2.1 2,624 958 - 3,582
Charitable activities 2.2 30 167 - 197
Other trading activities 2.3 15 - - 15
Investment income 2.4 203 167 - 370
Total Income and Endowments 2,872 1,292 - 4,164
EXPENDITURE ON:
Raising funds 3.1 619 - - 619
Charitable activities 3.2 2,336 1,223 - 3,559
Total Expenditure 2,955 1,223 - 4,178
Net (losses)/gains on investments 1,195 1,153 36 2,384
Net (Expenditure)/Income 1,112 1,222 36 2,370
Transfers between funds 14 233 (245) 12 -
Net movement in funds 1,345 977 48 2,370
RECONCILIATION OF FUNDS:
Fund balances brought forward at 1 April 6,594 5,887 185 12,666
Fund balances carried forward at 31 March 7,939 6,864 233 15,036
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All income relates to continuing activities.
There is no material difference between the net income of the year and the historical cost equivalents.
**66 Annual Report and Financial Statements 2021-22**
## www.stgeorgeshospitalcharity.org.uk
@givingtogeorges @stgeorgeshospitalcharity @givingtogeorges @stgeorgeshospitalcharity 020 8725 4522 giving@stgeorges.nhs.uk
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