REGISTERED CHARITY NUMBER: 1175992 COMPANY NUMBER: 10409442
The Nightingale Fellowship Report of the Trustees and Financial Statements For The Year Ended 31 December 2024
The Nightingale Fellowship
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |
|---|---|
| Report of the Trustees | 2 to 7 |
| Independent Examiner’s Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Statement of Cashflow | 11 |
| Notes to the Financial Statements | 12 to 20 |
| Detailed Statement of Financial Activities | 21 |
The Nightingale Fellowship
Report of the Trustees for the Year Ended 31 December 2024
The trustees present their annual report with the financial statements of the Charity for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out on pages twelve to fourteen of the attached accounts and comply with the Charity’s Articles of Association, the Charities Act 2011, regulations applicable to that Act, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective from accounting periods commencing 1st January 2019 or later.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number Registered Company Number 1175992 10409442 Board of Trustees Dr Christine Taylor President Mrs Jane Patten Honorary Treasurer Mrs Carolyn Driver Honorary Secretary Mrs Cecilia Orchard Mrs Jessica Streeting Ms Georgina Wingfield Mrs Carol Walton Mrs Josephine Bonham Dr Valerie Thurtle Mrs Julie Smith
Principal address Nightingale Fellowship Office 6 Trull Farm Buildings Tetbury Gloucestershire GL8 8SQ
Administrators
The Trust Partnership 6 Trull Farm Buildings Tetbury Gloucestershire GL8 8SQ
Bankers
CAF Bank Ltd National Westminster Bank Plc 25 Kings Hill Avenue London Bridge, PO Box 35 Kings Hill 10 Southwark Street West Malling London Kent, ME19 4JQ SE1 1TJ
Independent Examiner Dunkley's Woodlands Grange Woodlands Lane Bradley Stoke Bristol BS32 4JY
Investment Advisers
Waverton Investment Management Limited 16 Babmaes Street London SW1Y 6AH
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The Nightingale Fellowship
Report of the Trustees for the Year Ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document:
ARTICLES OF ASSOCIATION
The Nightingale Fellowship was registered as a Charitable Company with company number 10409442 and Charity number 1175992 on the 29th November 2017 having converted from their previous unincorporated organisation status as the Nightingale Fellowship (unincorporated association), The Nightingale Benevolent Fund (227911) and the Esmond Bequest (287381), with a further special trust known as the Sir Geoffrey Bateman Award. At their meeting on 12th May 2018, the Trustees signed the Deed of Resolution finalising the procedure for the conversion and the transfer of all assets to the new entity.
The Company, (registered 4[th] October 2016), is governed by Articles of Association dated 29[th] November 2017. The Trust remains a grant giving charity. As noted in the accounts (note 6, page 16) assets of £3,680,578 were transferred to the new charitable company in 2018. This Report and Accounts reports solely on the new entity for the financial year ending 31 December 2024.
The Trustees
The trustees who served the charity during the year were as follows:
Dr C Taylor Mrs J Patten Mrs C Driver Mrs C Orchard Mrs J Streeting Ms G Wingfield Mrs C Walton Mrs J Bonham Dr V Thurtle Mrs J Smith
Appointment of Trustees is governed by the Articles of Association of the Nightingale Fellowship. The Council of the Nightingale Fellowship (the Council) is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. The Council consists of the President (who is elected every three years by the Council of Trustees and can act for two consecutive terms and during this time is an honorary officer), plus two honorary officers (to act as Secretary, Treasurer, appointed by the Council for four years and who are eligible for re-appointment) and assistants to the honorary officers, who are elected by the Council from time to time, to hold office for such period as the Council may decide. There are now two Council meetings and, if required, two committee meetings held every year and a Director’s AGM.
Key Management Personnel
The Trustees consider that they comprise the key management of the Charity in charge of directing and controlling, running and operating the Charity on a day-to-day basis. The Trustees receive no remuneration for their duties but do receive reimbursement of expenses.
Organisational structure
As previously noted, the Esmond Bequest was gifted to The Nightingale Foundation in support of a Scholar, by way of an annual Nightingale Fellowship Esmond Award.
The Nightingale Fellowship Benevolent Fund (the Benevolent Fund), as of 1[st] January 2022, has been administered by the Cavell Nurses’ Trust as per the signed agreement.
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The Nightingale Fellowship Report of the Trustees for the Year Ended 31 December 2024
Connected organisation
The Benevolent Fund is related to the Fellowship through having common management and complementary objectives. Previously this registered charity shared common trustees and administration with the association as follows:
maintenance of the benevolent fund has been devolved to the Nightingale Fellowship Benevolent Fund, (now removed charity no. 227911)
The Nightingale Fellowship 1175992 was established to carry on the activities of the Benevolent Fund, the Esmond Bequest and the Sir Geoffrey Bateman Award. During 2021, the Nightingale Fellowship 1175992 started to purely cover the Benevolent Fund.
Risk management
In line with the requirement for Trustees to undertake a risk assessment exercise and report on the same in their annual report, the Trustees have looked at the risks. The Trustees have identified five main areas where risks may occur and considered how they might mitigate against them:
Governance and management risk look at the risk the Charity might suffer from the lack of direction, the skills and training of the Trustees and the good use of its funds. The Trustees undertake strategy reviews to ensure the charitable objectives are met. The Trustees are offered and take up training, and administrative support from The Trust Partnership ensures proper management of the Charity.
Operational risk looks at the risk the charity might suffer from a lack of direction, including supporting unsuitable appeals from charities, continuity of administration, lack of a disaster recovery policy, etc. Cavell Nurses’ Trust were engaged as of 1[st] January 2022 to screen appeals to the Benevolent Fund, with support from the Trust Partnership. The Trust Partnership operates with sufficient staff to support the Charity should the primary administrator be unavailable.
Financial risks include those arising as a result of poor budgetary control, inappropriate spending, poor accounting, inappropriate investment policies, etc. The Charities finances are reviewed by Trustees at the Trustee meetings where they consider investments and funds available for grant making. The annual accounts are independently reviewed.
Reputational risk looks at the possible damage to the Charity's reputation, through association with unsuitable charities, or with inappropriate activity. There are policies regarding Conflict of Interest, Data Protection as well as appropriate consideration of the Charities activities and associations.
Laws, regulations, external and environmental risk looks at the effects of government policies and the consequences of non-compliance with the laws and regulations and the effect of external matters on the Charities investment portfolio. The fund maintains effective liaison with professional advisors including Dunkley’s Auditors, The Trust Partnership and the Charity Commission.
Having assessed the major risks to which the Charity is exposed, in particular to its finances, the Trustees believe that by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational and business risks faced by the Charity, they have established effective systems to mitigate those risks.
Charity Governance Code
The Trustees considered the Charity Governance Code in detail and will continue to give due regard to the Code’s seven principles of organisational purpose, leadership, integrity, decision-making, risk and control, board effectiveness, diversity, and openness and accountability. The Trustees will continue to review the Code annually.
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The Nightingale Fellowship
Report of the Trustees for the Year Ended 31 December 2024
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Objects of the Charity (The "Objects") are:
1 The relief of full members who are in need through financial hardship, distress or ill health;
2 The advancement of Education of eligible nurses and midwives whether in the United Kingdom or elsewhere
3.1 The advancement of such other objects or purposes in any part of the world which are exclusively charitable according to the law of England and Wales and are in the opinion of the Trustees connected with nursing and/or midwifery and all or any of the Schools in such manner as the Trustees may in their absolute discretion think fit.
3.2 In these articles charitable means charitable in accordance with the law of England and Wales provided that it will not include any purpose which is not charitable in accordance with section 7 of the Charities and Trustee Investment (Scotland) Act 2005 and / or section 2 of the Charities Act (Northern Ireland) 2008. For the avoidance of doubt, the system of law governing the constitution of the charity is the law of England and Wales.
Public Benefit
In setting the Charity's objectives and planning its activities the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Total active membership stood at 1,806 at 31st December 2024 of whom 773 were life members, having notified the office they had reached the age of 70 years. There are 1,003 fully subscribing members.
One edition of the Nightingale Fellowship Journal was published in August during the year. Also in February, a Newsletter had been sent out to all paid up members.
The Benevolent Fund grants are advertised via the Journal and on the website to encourage applications.
The Benevolent Fund, under the administration of Cavell Nurses’ Trust, supported seven individuals with £16,584 granted during 2024 (2023: seven individuals with £14,300 and one award made directly by the Honorary Officers in the sum of £500).
With the remaining funds of the Geoffrey Bateman Fund and Esmond Bequest having been transferred out previously, grants are no longer being made.
The outsourcing of administration to the Trust Partnership which has been in place for fifteen years is reviewed annually and continues to work effectively with positive feedback from the membership.
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The Nightingale Fellowship
Report of the Trustees for the Year Ended 31 December 2024
FINANCIAL REVIEW
Income
The subscription income was £17,754 (2023: £18,480). Many Members continue to subscribe annually in the form of donations for which we are very grateful and these, along with other donations, totalled £2,285 (2023: £8,820). Legacies amounted to £6,350 (2023: £ (122) due to an amount having to be refunded regarding the Estate of Mrs. Nina Ballard).
Investment performance
Investments of the former Nightingale Fellowship entities were transferred to The Nightingale Fellowship (Charitable Company) on the 1[st] January 2018 valued at £3,185,678.
During the year assets totalling £361,106 were sold (2023: £315,422) and £335,613 was invested (2023: £290,539). Realised and unrealised gains were £271,318 (2023: gains of £288,300). Total Investment income from Waverton was £55,953 (2023: £51,981). The value of invested funds as at 31 December 2024 was £2,735,616 (2023: £2,489,791).
Reserves policy
Reserves are maintained at a sufficient level to provide an appropriate, assured annual income for charitable activity including grant giving to continue at its present level, covering two years and for any liabilities should the charity cease to exist. Sums on deposit may be used if necessary. Reserves currently stand at £172,855 unrestricted, which represents more than two years of expenditure.
Investment policy and objectives
The Trustees have an annual meeting with the Investment Managers, Waverton Investment Management Limited. They are sent quarterly reports and have access as and when required to Waverton, including via an online portal. This ensures that they keep abreast of the changes in dividend returns and the position of investments overall. Long-term growth is sought subject to generating a level of income sufficient for grant giving.
Going concern
The Trustees having reviewed their Strategy as to the long term future of the Fellowship, bearing in mind the falling income as membership declines, and rising costs of administration etc. have formally agreed to the closure of the Fellowship as of December 2025.
FUTURE DEVELOPMENTS
Efforts continue to be made to validate the membership database and to promote the Fellowship and its funds through the Journal. All publicity for the Benevolent Fund is ongoing via the Journal, the use of the website and also by Cavell Nurses’ Trust.
The Trustees having reviewed their Strategy as to the long term future of the Fellowship, bearing in mind the falling income as membership declines, and rising costs of administration etc. have formally agreed to the closure of the Fellowship as of December 2025. Due to this decision, the current Trustees have all agreed to stay in post until closure.
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The Nightingale Fellowship
Report of the Trustees for the Year Ended 31 December 2024
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the Charity for that period. In preparing these accounts, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102);
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provisions of the Charity’s Articles of Association. 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.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Fellowship website.
Independent Examiner
Dunkley's were re-appointed as the charitable company's independent examiner during the year and have expressed their willingness to continue in that capacity.
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.
ON BEHALF OF THE BOARD:
CMW Taylor
CMW Taylor (Sep 9, 2025 16:47:47 GMT+1)
.............................................
Dr C Taylor – President
09/09/2025
Date: .............................................
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Independent Examiner's Report to the Trustees of The Nightingale Fellowship
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2024, which are set out on pages 9 to 20.
Responsibilities and basis of report
As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those accounting records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Matthew Dobbins FCA Dunkley's Woodlands Grange Woodlands Lane Bradley Stoke Bristol BS32 4JY
16/09/2025 Date: .............................................
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The Nightingale Fellowship
Statement of Financial Activities for the Year Ended 31 December 2024
| Statement of Financial Activities for the Year Ended 31 December 2024 |
|||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | 31.12.24 | 31.12.23 | ||
| funds | funds | Total funds | Total funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME | |||||
| Donations and Legacies | 2 | 25,739 | 670 | 26,409 | 27,243 |
| Investments | 3 | 4,552 | 55,953 | 60,505 | 55,475 |
| Total income | 30,291 | 56,623 | 86,914 | 82,718 | |
| EXPENDITURE | |||||
| Raising funds | - | 17,754 | 17,754 | 15,653 | |
| Charitable activities | 4 | 56,379 | 68,880 | 125,259 | 84,345 |
| Total expenditure | 56,379 | 86,634 | 143,013 | 99,998 | |
| Net losses/(gains) on investments | 8 | - | (271,318) | (271,318) | (288,300) |
| NET INCOME | (26,088) | 241,307 | 215,219 | 271,020 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 198,943 | 2,575,751 | 2,774,694 | 2,503,674 | |
| TOTAL FUNDS CARRIED FORWARD | 172,855 | 2,817,058 | 2,989,913 | 2,774,694 |
The net movement in funds for the year arises from the charity’s continuing operations.
The notes on pages 12 to 20 form part of these accounts.
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The Nightingale Fellowship Co No 10409442
Balance Sheet As at 31 December 2024
| Unrestricted | Restricted | 31.12.24 | 31.12.23 | ||
|---|---|---|---|---|---|
| 3funds | funds | Total funds | Total funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Investments | 8 | - | - | - | 2,489,791 |
| CURRENT ASSETS | |||||
| Investments | 8 | - | 2,735,616 | 2,735,616 | - |
| Debtors | 9 | 166 | - | 166 | 146 |
| Cash at bank | 176,629 | 91,884 | 268,513 | 291,912 | |
| 176,795 | 2,827,500 | 3,004,295 | 292,058 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 10 | (3,940) | (10,442) | (14,382) | (7,155) |
| NET CURRENT ASSETS | 172,855 | 2 ,817,058 | 2 ,989,913 | 284,903 | |
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | 172,855 | 2,817,058 | 2,989,913 | 2,774,694 | |
| NET ASSETS | 172,855 | 2,817,058 | 2,989,913 | 2 ,774,694 | |
| FUNDS | 11 | ||||
| Unrestricted funds | 172,855 | 198,943 | |||
| Restricted funds | 2 ,817,058 | 2,575,751 | |||
| TOTAL FUNDS | 2 ,989,913 | 2,774,694 |
For the year ending 31 December 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved by the Board of Trustees on 10th May 2025 and were signed on its behalf by:
.............................................
Mrs J Patten – Honorary Treasurer and Trustee
The notes on pages 12 to 20 form part of these accounts.
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The Nightingale Fellowship
Statement of Cash Flows At 31 December 2024
| CASH FLOWS FROM OPERATING ACTIVITIES: Net cash (used in) operating activities (see below) Cash flows from investing activities: Dividends and interest from investments Proceeds from sale of investments Purchase of investments Net cash provided by (used in) investing activities: Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES Net income for the year per the statement of financial activities Adjustments for: Losses/ (Gains) on investments Dividends and interest from investments (Increase)/ decrease in debtors Increase/ (decrease) in creditors Net cash (used in) operating activities |
2024 £ (109,397) 60,505 361,106 (335,613) 85,998 (23,399) 291,912 268,513 215,219 (271,318) (60,505) (20) 7,227 (109,397) |
2023 £ (21,641) |
|
|---|---|---|---|
55,475 315,422 (290,539) |
|||
| 80,358 | |||
| 58,717 233,195 |
|||
| 291,912 | |||
| 271,020 (288,300) (55,475) 56,333 (5,219) |
|||
| (21,641) |
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The Nightingale Fellowship Notes to the Financial Statements - continued for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.
i) Basis of preparation
These accounts have been prepared for the year to 31st December 2024.
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP FRS 102) issued on 16 July 2014, Update Bulletin 1 issued on 2 February 2016, Update Bulletin 2 issued on 5 October 2018, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Charity constitutes a public benefit entity as defined by FRS 102.
The accounts are presented in sterling and are rounded to the nearest pound.
ii) Critical accounting estimates and areas of judgement
Preparation of the financial statements requires the Trustees to make significant judgements and estimates.
The Trustees do not consider that there are any sources of estimation uncertainty or any key judgements made in the preparation of the financial statements.
iii) Assessment of going concern
The Trustees having reviewed their Strategy as to the long term future of the Fellowship, bearing in mind the falling income as membership declines, and rising costs of administration etc. have formally agreed to the closure of the Fellowship as of December 2025.
iv) Status
The Charity is a Company (Registration Number 104094422) limited by guarantee and has no share capital. It is constituted under Memorandum and Articles of Association and has been granted charitable status by the Charity Commission (Charity Registration Number 1175992). In the event of the charity being wound up, the Trustee indemnifies the Directors and members to the value of 1 penny against any liability in respect of the charity.
v) Income recognition
Income is recognised in the period in which the Charity has entitlement to the income, the amount of income can be measured reliably, and it is probable that the income will be received.
Income is deferred only when the group or Charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future accounting period.
Income comprises donations and legacies, gift aid, investment income and interest receivable.
Donations are recognised when the Charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that those conditions will be fulfilled in the reporting period.
Legacies are included in the statement of financial activities when the Charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the Charity.
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The Nightingale Fellowship
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
Entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the Charity has been notified of the executor’s intention to make a distribution.
Where legacies have been notified to the Charity, or the Charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having been transferred to the Charity.
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
vi)
Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the group or charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis and includes attributable VAT which cannot be recovered. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated to the applicable expenditure heading.
The cost of charitable activities comprises grants payable to beneficiaries and allocated support costs.
Grants payable are included in the statement of financial activities when approved and when the intended recipient has either received the funds or been informed of the decision to make the grant and has satisfied all related conditions.
vii) Allocation of support and governance costs
Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of financial and governance procedures, provision of office services and equipment and a suitable working environment.
Governance costs comprise all costs relating to the public accountability of the charity and its compliance with regulation and good practice. These costs include costs relating to the independent examination of the financial statements and legal fees.
Support costs and governance costs are allocated to the charity’s single charitable activity.
viii) Investments
Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Charity does not acquire put options, derivatives or other complex financial instruments.
As noted above the main form of financial risk faced by the Charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.
Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value is acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.
Other Investments are included at cost, which is considered to be approximate to their market value.
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Nightingale Fellowship
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
ix) Debtors
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.
x) Creditors and provisions
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the Charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.
xi) Cash at bank and in hand
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.
xii) Fund accounting
Restricted funds are monies raised for, and their used restricted to, a specific purpose, or donations subject to donorimposed conditions
Unrestricted funds represent those monies that are freely available for application towards achieving any charitable purpose that fall within the charity's charitable objects.
xiii) Taxation
The charity is exempt from Tax in its charitable activities.
2. DONATIONS AND LEGACIES
| Donations and Legacies Membership Subscription Donations Gift Aid Legacies 2024 2023 INVESTMENT INCOME Investment Income Dividends Bank Interest 2024 2023 |
31.12.24 31.12.23 Unrestricted £ Restricted £ Total £ Total £ 17,754 - 17,754 18,480 1,615 670 2,285 8,820 20 - 20 65 6,350 - 6,350 (122) |
|---|---|
| 25,739 670 26,409 27,243 26,528 715 27,243 31.12.24 31.12.23 Unrestricted Restricted Total Total £ £ £ £ - 55,953 55,953 51,981 4,552 - 4,552 3,494 4,552 55,953 60,505 55,475 3,494 51,981 55,475 |
3. INVESTMENT INCOME
14
Nightingale Fellowship
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
4. CHARITABLE ACTIVITIES
| Charitable Activity Gifts and Donations Grants to Individuals Grants to Organisations: Guys & St Thomas Support Costs Management Charge Journal Publications Travelling Trustee Meetings Print Post Stationery Storage Gifts and Donations Website and IT Bank Charges Governance Costs Legal Audit/ Independent examination fee Professional Fees Expenditure 2024 Total expenditure 2023 Total expenditure |
31.12.24 31.12.23 Unrestricted £ Restricted £ Total £ Total £ - - - 3,404 - 25,000 16,584 - 16,584 25,000 14,800 - |
|---|---|
| 25,000 16,584 41,584 18,204 13,778 31,085 44,863 33,234 - 16,032 16,032 14,166 5,915 - 5,915 5,583 8,595 408 9,003 6,027 731 1,705 2,436 1,881 126 1,332 1,458 907 269 655 924 841 110 - 110 211 880 - 880 1,740 462 1,079 1,541 1,516 513 - 513 35 |
|
| 31,379 52,296 83,675 66,141 |
|
| 56,379 68,880 125,259 84,345 |
|
| 28,183 56,162 84,345 |
15
The Nightingale Fellowship
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
5. TRUSTEES' REMUNERATION AND BENEFITS
Staff costs and remuneration of key management personnel
The Charity employed no members of staff during the period (2023: none). The administration and financial management of the of the Charity is outsourced to The Trust Partnership.
The Trustees consider that they comprise the key management of the Charity in charge of directing and controlling, running and operating the Charity on a day-to-day basis. The Trustees received no remuneration or other benefits for the year ended 31 December 2024 (2023: £Nil).
Trustees' Expenses
Trustees' expenses paid were £5,860 for the year ended 31 December 2024 (2023: £5,573) paid between 9 (2023: 9) of the Fellowship’s Trustees. Expenses given are primarily for travel and sustenance related to Trustee meetings.
6. RELATED PARTIES
There were no related party transactions during the year.
2024 £Nil, (2023: £Nil). In 2018 The Nightingale Fellowship 1175992 was established to carry on the activities of three separate entities. The Nightingale Fellowship (the Association), The Nightingale Fellowship Benevolent Fund (the Charity) and The Esmond Bequest (the Bequest).
The trustees of the Charity served as trustees of all three entities. In order to simplify and strengthen the governance of the Association, the Charity and the Bequest within one incorporated structure and obtain the benefits of incorporated status, the Association, the Charity and the Bequest were brought together under the umbrella of the Company as an amalgamation as approved by the Council and the members of the Association.
The amounts transacted by transfer deed from each related party to The Nightingale Fellowship 1175992 were:
| The Nightingale Fellowship (Assoc) General Fund The Nightingale Fellowship (Assoc) Restricted Fund Benevolent Fund Restricted for benevolence Esmond Bequest Restricted fund Esmond Bequest Sir Geoffrey Bateman Restricted fund |
£ 91,763 89,825 2,971,092 510,742 17,156 |
|---|---|
| 3,680,578 |
On transfer the funds were to be used according to their original purpose, primarily benevolence, through the objects of the Association, the Charity and the Bequest which were consolidated in the new Articles of Association of The Nightingale Fellowship.
7. RESTRICTED FUNDS
Restricted funds include:
The Benevolent Fund which provides assistance to full members of the Nightingale Fellowship who are in need through hardship, distress or ill health.
After closure of the Charity, the Benevolent Fund monies are being transferred to the Cavell Nurses’ Trust. A formal contract is being drafted to accommodate this appropriately, being drawn up by Charity Lawyers.
The Cavell Nurses’ Trust administers the Benevolent Fund, and has done so for the last three years, against set criteria as provided by The Nightingale Fellowship. It reports quarterly to the Board on funds distributed, and produces quarterly invoices covering grants awarded, for Cavell to be reimbursed.
16
The Nightingale Fellowship
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
7. RESTRICTED FUNDS Continued
- ,
The Perseverance Trust Fund which was made to support the New Nightingale Fellowship project and support the provision of a regular communication including the Journal publication and via the Website. These funds have now been fully utilised.
8. INVESTMENTS
Listed investments
| MARKET VALUE At 1 January 2024 Sale of investments Purchase of Investments Realised/unrealised gains or losses At 31 December 2024 NET BOOK VALUE At 31 December 2024 |
31.12.24 31.12.23 £ £ 2,489,791 2,226,374 (361,106) (315,422) 335,613 290,539 271,318 288,300 2,735,616 2,489,791 2,735,616 2,489,791 |
|---|---|
There were investment assets of £2,091,133 outside the UK. At the Balance sheet date, the historical cost of the investments was £2.079,720. As at 31.12.24 no holding had a value of >5% of the market value of the investments.
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Gift aid Unrestricted Legacy income Unrestricted CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses Unrestricted Accrued expenses Restricted |
31.12.24 31.12.23 £ £ 166 146 - - |
|---|---|
| 166 146 |
|
| 31.12.24 31.12.23 £ £ 3,940 884 10,442 6,271 |
|
| 14,382 7,155 |
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
17
The Nightingale Fellowship
for the Year Ended 31 December 2024
Notes to the Financial Statements - continued
11. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net movement | |||
| At 01.01.24 | in funds | At 31.12.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 198,943 | (26,088) | 172,855 |
| Restricted funds | |||
| Restricted fund | 2,575,751 | 241,307 | 2,817,058 |
| TOTAL FUNDS | 2 ,774,694 | 215,219 | 2,989,913 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Income £ Expenditure £ Net Gain £ Movement in funds £ 30,291 (56,379) - (26,088) 56,623 (86,634) 271,318 241,307 86,914 (143,013) 271,318 215,219 |
Income £ Expenditure £ Net Gain £ Movement in funds £ 30,291 (56,379) - (26,088) 56,623 (86,634) 271,318 241,307 86,914 (143,013) 271,318 215,219 |
Income £ Expenditure £ Net Gain £ Movement in funds £ 30,291 (56,379) - (26,088) 56,623 (86,634) 271,318 241,307 86,914 (143,013) 271,318 215,219 |
|---|---|---|---|
| 2 | 15,219 |
12. ACTIVITY BY FUND
18
The Nightingale Fellowship
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
13. Comparative Statement of Financial Activities for the Year Ended 31 December 2023
| INCOME Donations and Legacies Investments Total income EXPENDITURE Raising funds Charitable activities Total expenditure Net (gains) on investments NET INCOME |
Unrestricted Restricted 31.12.23 Total funds £ funds £ funds £ 26,528 715 27,243 3,494 51,981 55,475 |
Unrestricted Restricted 31.12.23 Total funds £ funds £ funds £ 26,528 715 27,243 3,494 51,981 55,475 |
|---|---|---|
| 30,022 52,696 82,718 - 15,653 15,653 28,183 56,162 84,345 28,183 71,815 99,998 - (288,300) (288,300) 1,839 269,181 271,020 |
19
The Nightingale Fellowship
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
14. Comparative Balance Sheet As at 31 December 2023
| 31.12.23 | |||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| funds | funds | funds | |
| £ | £ | £ | |
| FIXED ASSETS | |||
| Investments | - | 2,489,791 | 2,489,791 |
| CURRENT ASSETS | |||
| Debtors | 146 | - | 146 |
| Cash at bank | 199,682 | 92,230 | 291,912 |
| 199,828 | 92,230 | 292,058 | |
| CREDITORS | |||
| Amounts falling due within one year | (885) | (6,270) | (7,155) |
| NET CURRENT ASSETS | 198,943 | 85,960 | 284,903 |
| NET ASSETS | 198,943 | 2,575,751 | 2,774,694 |
20
The Nightingale Fellowship
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024
| INCOME Donations and Legacies Investment Income Interest Total income EXPENDITURE Raising funds Fund Manager Fees Charitable activities Gifts and Donations Grants Charitable Expenditure Support Costs Management Charge Journal publications Travelling Trustee Meetings Print Post Stationery Storage Gifts and Donations Website and IT Bank Charges Charitable Support Cost Expenditure Governance Costs Legal Audit/ Independent examination fee Professional Fees Total governance costs Total expenditure Net (losses)/gains on investments NET INCOME |
31.12.24 31.12.23 Unrestricted Restricted Total Total funds funds funds funds £ £ £ £ 25,739 670 26,409 27,243 - 55,953 55,953 51,981 4,552 - 4,552 3,494 |
|---|---|
| 30,291 56,623 86,914 82,718 - 17,754 17,754 15,653 - - - 3,404 25,000 16,584 41,584 14,800 |
|
| 25,000 34,338 59,338 18,204 13,778 31,085 44,863 33,234 - 16,032 16,032 14,166 5,915 - 5,915 5,583 8,595 408 9,003 6,027 731 1,705 2,436 1,881 126 1,332 1,458 907 269 655 924 841 110 - 110 211 |
|
| 29,524 51,217 80,741 62,850 880 - 880 1,740 462 1,079 1,541 1,516 513 - 513 35 |
|
| 1,855 1,079 2,934 3,291 |
|
| 56,379 86,634 143,013 84,345 |
|
| - 271,318 271,318 288,300 |
|
| (26,088) 241,307 215,219 271,020 |
This page does not form part of the statutory financial statements
21
NIG15B - Accounts 2024
Final Audit Report
2025-09-10
Created: 2025-09-09 By: Sherilyn Lewis (sherilyn.lewis@thetrustpartnership.com) Status: Signed Transaction ID: CBJCHBCAABAAKJuq-7CS5pYqQz-3ON6qKQeVnocQ3dL_
"NIG15B - Accounts 2024" History
-
Document created by Sherilyn Lewis (sherilyn.lewis@thetrustpartnership.com) 2025-09-09 - 15:45:40 GMT
-
Document emailed to cmw.taylor23@gmail.com for signature
-
2025-09-09 - 15:45:46 GMT
-
Document emailed to Jane Patten (mamajpatten@hotmail.co.uk) for signature
2025-09-09 - 15:45:46 GMT
- Email viewed by cmw.taylor23@gmail.com
2025-09-09 - 15:46:27 GMT
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Signer cmw.taylor23@gmail.com entered name at signing as CMW Taylor 2025-09-09 - 15:47:45 GMT
-
Document e-signed by CMW Taylor (cmw.taylor23@gmail.com)
-
Signature Date: 2025-09-09 - 15:47:47 GMT - Time Source: server
-
Email viewed by Jane Patten (mamajpatten@hotmail.co.uk) 2025-09-10 - 08:37:12 GMT
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Document e-signed by Jane Patten (mamajpatten@hotmail.co.uk)
-
Signature Date: 2025-09-10 - 08:38:23 GMT - Time Source: server
Agreement completed.
2025-09-10 - 08:38:23 GMT
NIG15B - Accounts 2024 - signed
Final Audit Report
2025-09-16
Created: 2025-09-16 By: Sherilyn Lewis (sherilyn.lewis@thetrustpartnership.com) Status: Signed Transaction ID: CBJCHBCAABAAXKNN3aIYp6d6hYQS3HcTd_qTNJWQ_DH-
"NIG15B - Accounts 2024 - signed" History
Document created by Sherilyn Lewis (sherilyn.lewis@thetrustpartnership.com) 2025-09-16 - 11:01:30 GMT
Document emailed to matthew.dobbins@dunkleys.accountants for signature
2025-09-16 - 11:01:37 GMT
Email viewed by matthew.dobbins@dunkleys.accountants 2025-09-16 - 14:41:54 GMT
Signer matthew.dobbins@dunkleys.accountants entered name at signing as Matthew Dobbins 2025-09-16 - 14:42:55 GMT
Document e-signed by Matthew Dobbins (matthew.dobbins@dunkleys.accountants) Signature Date: 2025-09-16 - 14:42:57 GMT - Time Source: server
Agreement completed.
2025-09-16 - 14:42:57 GMT