**Charity Registration number - 1185067**
**THE FRIENDS OF THE FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES CIO**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2024**
## **THE FRIENDS OF THE FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES CIO YEAR ENDED 31 DECEMBER 2024 CONTENTS**
||**Page**|
|---|---|
|Legal and Administrative Information|1|
|Trustees' Report|2 - 5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Accounts|9-15|
**THE FRIENDS OF THE FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES CIO**
Page 1
## **LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Trustees**
Mr D H S Simmons Mr M J Moore F.C.A Treasurer Mrs V Robertson Mrs J Young Mrs G Mather Mrs M Hibbs Mrs S Grove Vice Chair Mrs A Reynolds BEM Chair Ms M Ryder **Charity Number** 1185067 **Correspondence Address** 15 Preston Park Faversham Kent ME13 8LH
**website** www.friends-favershamcottagehospital.org **Independent Examiner** Nigel Kay F.C.C.A. C.T.A. A.C.I.B Director Faversham Accounting Charity and Taxation Services Ltd Chartered, Certified Accountants 6 Brogdale Place Faversham Kent ME13 0AF
## **Bankers**
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent, ME19 4JQ Metro Bank One Southampton Row London, WC1B 5HA
**THE FRIENDS OF THE FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES CIO**
Page 2
**TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
The Trustees of the Charity present their Annual Report and Financial Statements of the Charity for the year ended 31 December 2024.
## **Governing Document, Objectives, Activities for the Public Benefit**
The Charity was created by the registration on the 28th August 2019 of a Charitable Incorporated Organisation (CIO) as the Friends of Faversham Cottage Hospital and Community Medical Centres (''The Friends'') The Objects being for the public benefit, the relief of sickness and the preservation and protection of good health among the patients of the Faversham Cottage Hospital and the Community Medical Centres. On the 1st January 2020, it took over the net assets and activities of The Friends of Faversham Cottage Hospital and Community Health Centres, registered charity number 265642.
## **Organisation Structure**
The Charity is managed by a Board of Trustees (''the Trustees'') which meet at least four times a year. The Trustees of the Charity are listed on the legal and administrative page.
The Trustees are constantly looking for new people to join the Board who are willing volunteers and are happy to devote their time and skills to the Charity.
## **Achievements and Performance**
The Trustees have continued to meet regularly under the chairmanship of Alison Reynolds and worked with our volunteer Jill Hunt to improve our marketing. Despite some delays due to volunteer and trustee availability, we have agreed the text of our new leaflet and made further improvements to our website. Thanks to the work of our Vice Chair Sue Grove we now have an excellent large notice board at Newton Place Surgery.
The Charity had several successful fundraising events during the year, including a Summer Sale and our popular Xmas raffle when, despite challenging weather, we made over £600. The Charity were again well supported by The Elephant Public House's raffle and some very effective fundraising on our behalf by Park Fish Bar who raised over £2,000 on our behalf. Many thanks are owed to these and our many other supporters. A full list of fundraising events is shown in note 3. We have responded to a variety of requests for financial help towards improvements at the two medical centres, including mobile BP machines and a digital cardio scanner. Details of grants made in the year can be found in Note 9. We welcomed Jenny HyattGipson the new Matron at the Cottage Hospital in 2024 and look forward to working closely with her during 2025
In partnership with Faversham Rotary and NHS Property Services, The Charity provided a Defibrillator and Bleed Control Box (for out of hours emergency help after a knife or similar incident).
Details about the expenditure made so far can be found in note 10.
Trustees met with our Investment Manager in October who was very helpful and informative in describing and explaining our investment strategy.
**THE FRIENDS OF THE FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES CIO**
Page 3
## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Publicity and Membership**
The Trustees continue to raise awareness about The Charity wherever they can and are happy to receive any new ideas or support in this. After a considerable amount of work by our Vice Chair Sue Grove, and in partnership with NHS Property Services, we provided a Defibrillator and Bleed Control Box (for out of hours emergency help after a knife attack or similar incident). This Bleed Control Box, the first to be installed in the county, was installed outside Faversham Medical Practice. The equipment is the initiative of a charity ‘Project Youth’ who are spearheading box installations across the country. Many thanks are due to The Rotary Club of Faversham who funded 50% of the cost of the defibrillator and the associated wall plaque.
An official opening, co-ordinated by our volunteer Jill Hunt, was very well received and was attended by the Mayor, health and community police representatives and Project Youth workers including founder member Carl Scott. The launch was reported in Faversham News on November 7th 2024.
Total membership continues to decline and this reduction in membership is a key risk for the charity and this is reflected in our Risk Register. In response to this Trustees agreed to amend our Conflict of Interest Policy to allow us to invite representatives of the Health Centres and Hospital to join our Board during 2025.
The annual subscriptions remained at £5 during the year.
## **Fund Raising Activities**
Thanks to the efforts of Trustees, particularly our Vice Chair, a number of successful fund-raising events took place, including a Summer Sale and Winter Raffle. Trustees continue to look for fundraising ideas especially those that reach out to younger residents. Details of amounts raised can be found on page 7 .
## **Equipment, Amenities and Capital Purchases for the Hospital and Health Centres**
The total amount spent or committed in 2024 on capital items was £7,873 Full details of expenditure is shown on page 13 in Note 10. The Charity continue to welcome bids from the Community (Cottage) Hospital and both Health Centres.
## **Financial Review**
Income for the year was £19,427 following a write back of £546 in respect of a legacy.(2023 £112,654) whilst total expenditure came to £15,944 (2023 £39,295) which resulted in a surplus for the year of £3,483 (2023 £73,359). In addition the Charity had a realised and unrealised capital gain of £26,694 (2023 £8,102 on its investments. Full details of the income and expenditure can be found on page 7
## **Achieving best value from our reserves**
With the creation of the CIO, the Trustees took the opportunity of reviewing their reserves. The population of the town is expanding and the tTustees believe there will be increasing demands on our reserves in future years to reflect this expansion. As reserves have increased significantly during the last few years, it was decided during 2020 to move £250,000 to a designated fund for future generations called the Joan and Martin Burns Fund. During 2021 and 2024.the Charity received the cash from another two significant legacies and decided, to invest a further sum with our investment managers as part of our general reserves.
The Trustees do however continue to look for projects that are needed now for the benefit of the people of the town. The Charity is only able to donate equipment and services that are requested by the Faversham Cottage Hospital and Community Health Centres and accordingly will maintain reserves to enable all suitable requests to be met. The Charity has one restricted fund, see note 11, and all restricted income is allocated to suitable expenditure as soon as it occurs. The Friends funds are held in interest bearing bank accounts and a discretionary portfolio maintained by Investment Manager Evelyn and Partners.
**THE FRIENDS OF THE FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES CIO**
Page 4
## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Achieving best value from our reserves (continued)**
Since being re-formed in 1973 the Charity has provided equipment and services to the hospital and Health Centres for the benefit of Faversham residents to the value of over £1,276,000.
## **Risk Register**
The Trustees have considered what risks the Charity is subject to and consider that all major financial risks are insured, by virtue of our membership of Attend, the Umbrella Organisation for Hospital Friends, insurance cover. Other risks facing the Charity (including governance, membership and trustee resources) are identified in our risk log which was reviewed and updated in December 2024. The decline in membership remains a key risk area as does the increasing move away from cash transactions affecting our collection activities. If we are to be able to carry on our work we must raise our profile, especially highlighting the support we provide to the extremely busy and well regarded Urgent Treatment Centre.
## **Policies**
Trustees have agreed to review our policies on a rolling programme. The Conflict of Interest Policy was reviewed and amended in February 2025. Policies include: Grant Giving, Investment, Finance, Membership, Safeguarding and Conflict of Interest.
## **Public Benefit**
The Trustees are aware of and comply with the Charity Commission Guidance on public benefit.
## **Plans for the Future**
The Charity continue to support both Health centres with their plans for growth during 2025 and in particular wish them well in their new partnership, to be developed and implemented during 2005/6. They intend together to provide enhanced and additional services for the town and the Trustees confidently expect to receive further requests for financial assistance from them during the years ahead. Similarly, the Trustee expect regular requests for assistance from our hospital, both to support the vital rehabilitation and recuperation work they do to keep people out of acute hospital, and to help them to provide a good quality of life, for the increasing number of their patients with dementia.
We must continue with our fund raising activities, which also helps us to ensure that the successful work of the charity is highlighted throughout the town. We recognise that the charity has thus far benefited from some significant legacies in addition to our more general fundraising. It is vital that we increasingly use social media, in addition to more traditional avenues, to raise our profile so that we continue to attract new funding for the benefit of all the health services in the town including the busy Urgent Treatment Centre.
Our key responsibility then is to ensure that funds raised are spent in a timely and efficient way and always within the terms of our charitable objectives The Chariy expects that the greater involvement of our beneficiaries in the consideration of grant applications overall will help us to deliver on this objective.
Growing and strengthening our Board of Trustees is key to delivering on these duties and this will again be a key priority during 2025.
**THE FRIENDS OF THE FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES CIO**
Page 5
## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Trustees' responsibilities in financial statements**
The Charity Trustees are responsible for preparing a Trustees' annual report and the financial statements 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 Financial Statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company 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 financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations 2008 and the provisions of the Governing Document. They are also responsible for safeguarding the assets of the charity and 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 Friend's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
We thank all those who have given their time and support over the year in helping us to achieve the aims of the Charity.
Signed on behalf of the Trustees on 17th June 2025
……………………………………… Mrs A Reynolds BEM Chair
**THE FRIENDS OF THE FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES CIO**
Page 6
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FRIENDS OF THE FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES**
I report to the Trustees on my examination of the financial statements of the Friends of the Faversham Cottage Hospital and Community Medical Centres CIO (the CIO) for the year ended 31st December 2024
## **Responsibilities and basis of report**
The Trustees are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to an audit under charity law and is eligible for independent examination, it is my responsibility to:
a) examine the accounts under section 145 of the 2011 Act; b) follow the procedures laid down in the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and c) state whether particular matters have come to my attention.
## **Basis of independent examiner's statements**
My examination was carried out in accordance with applicable Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
1 which gives me reasonable cause to believe that, in any material respect, the requirements: a) to keep accounting records in accordance with Charities (Accounts and Reports) Regulations 2008 b) to prepare accounts which accord with the accounting records, comply with the accounting requirements of the Charities Act and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities.
have not been met; or
2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Nigel Kay F.C.C.A. C.T.A. A.C.I.B Date 18th June 2025 Director Faversham Accounting Charity and Taxation Services Ltd Chartered, Certified Accountants. 6 Brogdale Place Faversham, Kent, ME13 0AF
**THE FRIENDS OF FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES CIO**
Page 7
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024**
|Notes
**Unrestricted**
**Designated**
**Funds**
**Funds**
**£**
**Income:**
**_Voluntary income:_**
Legacies
(546)
-
Donations in memoriam
745
-
Sundry donations
1,493
-
Subscriptions
415
-
Gift Aid tax claim
810
-
**_Activities for generating funds:_**
Fundraising events
3
3,998
-
Collecting boxes
1,228
-
Sale of goods
54
-
Compensation Barclays
-
-
**_Investment income:_**
Interest receivable
2
1,691
-
Dividend income
2
2,876
6,663
**Total incoming resources**
12,764
6,663
**Expenditure**
**_Costs of raising funds:_**
Fundraising activities
3
559
-
Cost of goods
241
-
**_Expenditure on charitable activities_**
Equipment & resources donated
10
7,873
-
Newspapers
1,917
-
Christmas presents and events
300
-
Support costs
4
2,543
2,511
**Total expenditure**
13,433
2,511
**Surplus/ (Expenditure) for year**
(669)
4,152
**Realised and unrealised gains on**
**investment assets**
7
8,008
18,686
**Net Income for year**
7,339
22,838
**Transfer between funds**
-
-
**Net movement in funds**
7,339
22,838
**Balances brought forward**
12
303,800
269,791
**Total funds carried forward**
311,139
292,629|**Restricted**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
215
215|**2024**
**Total**
**Funds**
**£**
(546)
745
1,493
415
810
3,998
1,228
54
-
1,691
9,539
19,427
559
241
7,873
1,917
300
5,054
15,944
3,483
26,694
30,177
-
30,177
573,806
603,983|**2023**
**Total**
**£**
96,000
622
1,486
485
583
2,515
1,542
66
150
1,415
7,790|
|---|---|---|---|
||||112,654|
||||463
39
33,192
1,704
200
3,697|
||||39,295|
||||73,359
8,102|
||||81,461
-|
||||81,461
492,345|
||||573,806|
**THE FRIENDS OF FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES CIO**
Page 8
## **BALANCE SHEET AS AT 31 DECEMBER 2024**
|**Notes**
**2024**
**£**
**_Tangible assets_**
Fixed assets
599
**_Investments_**
Investment portfolio
7
464,991
Faversham Oyster Fishery Ltd
7
50
Interest bearing accounts
7
125,495
590,536
**Total Fixed Assets**
591,135
**Current assets**
Stock of goods for resale
198
Debtors
8
20,891
Current accounts
6,623
Cash in Hand
254
**Total Current Assets**
27,966
**Liabilities**
Creditors falling due within one year
9a
1,680
Provision for amounts pledged
9b
13,438
15,118
**Net current assets**
12,848
**Net Assets**
603,983
**The funds of the charity**
Unrestricted funds
11
311,139
Designated funds
11
292,629
Restricted funds
11
215
**Total Charity Funds**
603,983
The notes at pages 9 to 15 form part of these accounts
Signed on behalf of the Trustees on 17th June 2025 by
……………………………….
………………………………….
Mrs A Reynolds, BEM - Chair
M J Moore, FCA - Treasurer|382,457
50
114,310
439
94,680
6,444
318
101,881
1,175
23,724
24,899|**2023**
**£**
7
496,817|
|---|---|---|
|||496,824
76,982|
|||573,806|
|||303,800
269,791
215|
|||573,806|
||||
## **Charity Registration number 1185067**
**THE FRIENDS OF FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES CIO**
Page 9
**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024**
## 1 **Accounting policies**
The Principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial are as follows:
## a) _**Basis of preparation**_
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 United Kingdom and Ireland (FRS 102) the Charities Act 2011 and Generally Accepted Practice as it applies from 1st January 2019. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s)
The financial statements are prepared on a going concern basis. There are no material uncertainties related to events or conditions which would cast doubt on the Charity's ability to continue as a going concern
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## b) _**Incoming resources**_
## _**Income recognition policies**_
Items of income are recognised and included in the accounts when all the following criteria are met:
- the charity has entitlement to the funds;
- any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity;
- there is sufficient certainty that receipt of the income is considered probable; and
- the amount can be measured reliably
## _**Incoming resources with related expenditure**_
When incoming resources have related expenditure the incoming resources and related expenditure are reported in the SOFA.
## _**Donations**_
Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _**Legacy Income**_
Legacy income is recognised at the earlier of the charity being notified when estate accounts are settled and there is notification of a distribution, or when the legacy is received. On occasion legacies will be notified to the Charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
## _**Tax reclaims on donations and gifts**_
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
## _**Volunteer help**_
The value of voluntary help received is not included in the accounts but is described in the Trustees' Annual Report.
## _**Investment income**_
This is included in the accounts when receivable.
**THE FRIENDS OF FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES**
Page 10
## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2024**
## **c) Resources expended**
All resources expended are recognised once there is a legal or constructive obligation to make a payment to a third party. Resources expended include attributable VAT which cannot be recovered.
Expenditure is recognised as soon as they is a legal or constructive obligation committing the Charity to pay out resources, this is considered to be when the "bid" requesting the funding for a purchase of equipment or a service has been formally approved by the charity.
Support costs are those costs which have not been directly allocated to an activity of the charity but nevertheless support those activities. These costs have been allocated between Charitable activities and Governance costs. The basis on which support costs have been allocated are set out in note 4
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity.
## **e) Tangible fixed assets**
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Equipment and notice boards 20% straigh line
## **f) Investments**
Investments consist of an unlisted investment, long term bank balances, and an investment portfolio managed by Evelyn Partners valued at market value as at 31st December 2024
## **g) Stock**
This is valued at the lower of cost or market value.
## **h) Fund accounting**
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Designated funds are unrestricted funds earmarked by the Trustees for a particular purpose.
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criteria is charged to the fund.
## **i) Currency**
The presentation currency of the financial statements is the Pound Sterling (£).
## 2
|**Investment income**
Interest receivable
Dividends|**Unrestricted**
**£**
1,691
2,876
4,567|
**Designated**
**Funds**
**£**
-
6,663
6,663|**Restricted**
**Funds**
**£**
-
-
-|**Total**
**2024**
**£**
1,691
9,539
11,230|**Total**
**2023**
**£**
1,415
7,790|
|---|---|---|---|---|---|
||||||9,205|
**THE FRIENDS OF FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES**
Page 11
## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2024**
|3
**Fundraising Activities**
Elephant Public House - raffles
Craft Fayres
Park Fish Bar fundraising event
Summer Raffle
Sale of donated cards
Winter Raffle 2024
Collection Macknade
Faversham Town Lottery
4
**Support costs**
**Unrestricted**
**Funds**
**Charitable Activities**
National Association subscription
725
Postage
44
Stationery
57
Sundry
123
Website (costs)
306
Advertising and leaflets
-
Bank charges
60
Depreciation
152
Investment management fee
1,076
2,543|**Income**
**£**
400
2,110
128
58
1,002
-
300
3,998
**Designated**
**Funds**
**£**
-
-
-
-
-
-
-
-
2,511
2,511|**Expenditure**
**£**
-
150
15
-
394
-
-
559
**Restricted**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
-|**Total**
**2024**
**£**
400
-
1,960
113
58
608
-
300
3,439
**Total**
**2024**
**£**
725
44
57
123
306
-
60
152
3,587
5,054|**Total**
**2023**
**£**
425
145
-
-
-
977
169
336|
|---|---|---|---|---|
|||||1,627|
|||||**Total**
**2023**
**£**
687
40
7
131
234
65
60
-
2,473|
|||||3,697|
## 5 **Trustee's Remuneration and Benefits**
There was no Trustees Remuneration for the year (2023 £Nil). Two (2023 three) Trustees were reimbursed out of pocket expenses totalling £203 (2023 £182) during the year. The expenses comprise postage, stationary, fundraising event costs, patient packs and sundry expenses.
## 6 **Fixed Assets**
|Cost or Valuation
At 1st January 2024
Additions in year
Disposals in year
At 31st December 2024
Depreciation
At 1st January 2024
Charge for the year
At 31st December 2024
Net Book Value
At 31st December 2023
At 31st December 2024|Other Assets Notice boards
7
-
744
(2)
-
5
744
-
-
1
149
1
149
7
-
4
595|Total
7
744
(2)|
|---|---|---|
|||749|
|||-
150|
|||150|
|||7|
|||599|
**THE FRIENDS OF FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES**
Page 12
## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2024**
|7
**Fixed asset investments**
a) _Investment portfolio under discretionary fund management._
Market value 1st January 2024
Acqusitions at Cost
Disposal Proceeds
Realised gain(loss)
Unrealised gain (loss)
Market value at 31st December 2024
Historical cost at 31st December 2024
Investments are represented by:
Equities,Multi- Asset and Alternative Investment Funds
In addition there is cash held pending re- investment
Total value of Portfolio
**Fixed asset investments**(continued )
b)
c) _Funds placed on long term interest bearing accounts_
Scottish Widows Bank
Metro Bank
Charities Aid Foundation Bank
8
**Debtors and prepayments**
Payments in advance and accrued Income
Legacies
Gift Aid refund
9a **Creditors and Accruals: falling due within one year**
Subscriptions in advance for 2024
Website costs and newspapers
National Subscription 2024
Investment Management fee
9b Provision for amount pledged
_Directly held investments_
Fixed Interest Bonds
The Charity also owns 50 Ordinary Shares in Faversham Oyster Fishery|**2024**
**£**
372,303
332,453
(273,325)
13,784
12,910
458,125
437,555
112,993
345,132
458,125
6,866
464,991
50
41,329
57,152
27,014
125,495
**2024**
**£**
-
19,454
1,437
20,891
**2024**
**£**
5
-
725
950
1,680
13,438
15,118|**2023**
**£**
362,504
25,055
(23,357)
(2,688)
10,789|
|---|---|---|
|||372,303|
|||364,643|
|||64,599
307,704|
|||372,303
10,154|
|||382,457|
|||50|
|||40,680
56,463
17,167|
|||114,310|
|||**2023**
**£**
53
94,000
627|
|||94,680|
|||**2023**
**£**
5
350
-
820|
|||1,175
23,724|
|||24,899|
**THE FRIENDS OF FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES**
Page 13
## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2024**
|10|**Equipment donation and provision for amounts pledged**|**Equipment donation and provision for amounts pledged**|**Equipment donation and provision for amounts pledged**|||||
|---|---|---|---|---|---|---|---|
|||||**Unrestricted**|**Designated**|**Restricted**|**Total**|
|||||**Funds**|**Funds**|**Funds**||
|||||**£**||**£**|**£**|
||_Equipment donations in year_|||||||
||Ophthalmoscope and Otoscope|||997|-|-|997|
||CardioScan Digital Holter recorder|||1,518|-|-|1,518|
||Water dispenser Maintenance|||393|-|-|393|
||2 x Mobile-o-Graph 24hr BP|machines||3,438|-|-|3,438|
||Emergency Medical Hub|||1,527|-|-|1,527|
|||||7,873|-|-|7,873|
|11|**Analysis of net assets between funds**|||||||
|||||**Unrestricted**|**Designated**|**Restricted**|**Total**|
|||||**funds**|**funds**|**funds**|**funds**|
|||||**£**|**£**|**£**|**£**|
||Fixed assets|||599|-|-|599|
||Investments|||298,657|
291,879|-|590,536|
||Current asset|||27,001|
750|215|27,966|
||Current liabilities|||(15,118)|-|-|(15,118)|
|||||311,139|
292,629|215|603,983|
|12|**Restricted and Designated Funds**|||||||
|||**Balance at**|**Incoming**|**Expenses**|**Investment**|**Transfers**|**Balance at**|
|||**01/01/2024 **|**resources**||**Gains(Losses**||**31/12/24**|
||||**£**|**£**|**£**|**£**|**£**|
||_Restricted_|||||||
||Patients Clothing|215|-|-|-|-|215|
|||215|-|-|-|-|215|
||Designated|||||||
||Joan and Martin Burns Fund|269,041|6,663|(2,511)|18,686|-|291,879|
||Hospital Chaplaincy|750|-|-|-|-|750|
|||269,791|6,663|(2,511)|18,686|-|292,629|
||Unrestricted funds|303,800|12,764|(13,433)|8,008|-|311,139|
||Total Funds|573,806|19,427|(15,944)|26,694|-|603,983|
||**Restricted Funds**|||||||
||Patients Clothing||This represents|monies donated|for patient's clothing.|||
## **Designated Funds**
Joan and Martin Burns Fund
This Designated Fund was created by the Trustees and represents the amounts received from the Estate of the late Joan Burns. The Trustees intend to accumulate net income and investment returns
The Trustees intention is that the fund be used for future capital projects and that the fund will not be depleted by restricting annual expenditure from the fund to £100,000. In the past four years the Trustees have approved grants on three major capital expenditure projects from general reserves without the need to withdrew funds from this reserve. The Trustees will though continue to carefully monitor the situation .
Page 14
**THE FRIENDS OF FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES**
## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2024**
## **Restricted and Designated Funds**
**Designated Funds** (continued)
Hospital Chaplaincy This Designated Fund created in memory of the late Dennis Brown to provide for the cost of training for the Chaplains at the Faversham Cottage Hospital.
## 13 **Post Balance Sheet events**
The Trustees are of the opinion there is no post balance sheet events to report on inrespect of both the year ended the 31st December 2024 and 2023.
## 14 **Charity Status**
Friends of the Faversham Cottage Hospital and Community Medical Centres is a Charitable Incorporated Organisation registered in England and Wales. The charity's registered number, principal address and nature of operations can be found in the Legal and Administrative information and Trustees Report.
## 15 **Taxation**
The Charity is exempt from tax on its charitable activities.
## 16 **Related Party Transations**
No Related party transactions have been identified (2023 Nil)
**THE FRIENDS OF FAVERSHAM COTTAGE HOSPITAL AND COMMUNITY MEDICAL CENTRES**
Page 15
## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2023**
17 **Comparative Statements of Financial Activities year ended 31st December 2023**
|Notes
**Unrestricted**
**Funds**
**Income:**
**_Voluntary income:_**
Legacies
96,000
Donations in memoriam
622
Sundry donations
1,486
Subscriptions
485
Gift Aid tax claim
583
**_Activities for generating funds:_**
Fundraising events
2,515
Collecting boxes
1,542
Sale of goods
66
**_Investment income:_**
150
Interest receivable
1,415
Dividend income
2,351
107,215
**Total incoming resources**
**Expenditure**
**_Costs of raising funds:_**
463
Fundraising activities
39
Cost of goods
**_Expenditure on charitable activities_**
33,192
Equipment & resources donated
1,704
Newspapers
200
Christmas presents
1,966
Support costs
37,564
**Total expenditure**
69,651
**Net Income (Expenditure)**
**Realised and unrealised gains on**
2,431
**investment assets**
72,082
**Net Income for year**
-
**Transfer between funds**
72,082
**Net movement in funds**
231,718
**Balances brought forward**
303,800
**Total funds carried forward**|**Designated**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
-
5,439
5,439
-
-
-
-
1,731
1,731
3,708
5,671
9,379
-
9,379
260,412
269,791|**Restricted**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
215
215|**2023**
**Total**
**Funds**
**£**
96,000
622
1,486
485
583
2,515
1,542
66
150
1,415
7,790
112,654
463
39
33,192
1,704
200
3,697
39,295
73,359
8,102
81,461
-
81,461
492,345
573,806|**2022**
**Total**
**Total**
**£**
22,797
1,222
3,168
580
736
2,942
912
100
-
462
5,636|
|---|---|---|---|---|
|||||38,555|
|||||537
69
164,177
1,318
200
4,973|
|||||171,274|
|||||(132,719)
(47,704)|
|||||(180,423)
-|
|||||(180,423)
672,768|
|||||492,345|