**REGISTERED CHARITY NUMBER: 1187228** ## **Report of the Trustees and** ## **Financial Statements** **For The Year Ended 31 December 2023** ## **for** **The League of Friends Of Stroud Hospital and Related Health Provision** Kingscott Dix Limited Chartered Accountants and Statutory Auditor Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Contents of the Financial Statements For The Year Ended 31 December 2023** |||**Page**|| |---|---|---|---| |**Reference and Administrative Details**||1|| |**Report of the Trustees**|2|to|8| |**Report of the Independent Auditors**|9|to|11| |**Statement of Financial Activities**||12|| |**Balance Sheet**||13|| |**Notes to the Financial Statements**|14|to|22| |**Detailed Statement of Financial Activities**|23|to|24| **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Reference and Administrative Details For The Year Ended 31 December 2023** |**TRUSTEES**|Dr R E Walker (Chair)| |---|---| ||A R Crook| ||W J Abbott (Treasurer)| ||N C Hurst| ||Mrs S A Herschell| ||Dr S Weir (G.P. Liaison)| ||B Chapman| ||Mrs M Greaves| ||Miss E Booth| ||Mrs M L Street| |**PRINCIPAL ADDRESS**|Stroud General Hospital| ||Trinity Road| ||Stroud| ||Gloucestershire| ||GL5 2HY| |**REGISTERED CHARITY**|1187228| |**NUMBER**|| |**AUDITORS**|Kingscott Dix Limited| ||Chartered Accountants| ||and Statutory Auditor| ||Goodridge Court| ||Goodridge Avenue| ||Gloucester| ||Gloucestershire| ||GL2 5EN| |**BANKERS**|NatWest Bank PLC| ||Bank Buildings| ||George Street| ||Stroud| ||Gloucestershire| ||GL5 3DT| |**INVESTMENT MANAGERS**|Charles Stanley Group PLC| ||25 Luke St| ||London| ||EC2A 4AR| Page 1 ## **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Report of the Trustees For The Year Ended 31 December 2023** The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The Charity also trades under the name The League of Friends of Stroud Hospitals. Page 2 ## **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Report of the Trustees For The Year Ended 31 December 2023** ## **OBJECTIVES AND ACTIVITIES** ## a. **Policies and objectives** The objective is to relieve patients, former patients and potential patients of the Stroud Hospitals and the Beeches Green Health Centre who are sick, convalescent, disabled, handicapped, infirm or in need of health care support and, generally to support the charitable work of the said hospitals. The remit of The League of Friends of the Stroud Hospitals and the Health Centre covers Stroud General Hospital, Stroud Maternity Hospital, Weavers Croft and Park House, Beeches Green Health Centre and Redwood House, and Stroud Ambulance Station, to supplement the services provided by these centres for the health, welfare and comfort of the patients therein and others in the community. Stroud Hospital now houses the daily office base of the Stroud Cotswold Integrated Care Team (ICT) community staff. In setting objectives and planning for activities, the Trustees give due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## b. **Strategies for achieving objectives** We continue to liaise with the various NHS Trusts involved in providing services to Stroud. The Chair, along with the Chairs of other local Leagues of Friends, has quarterly meetings with the Chief Officers of Gloucestershire Health and Care NHS Foundation Trust (GHCFT). ## **Social Investment Policy** There are no restrictions on the Charity's power to invest and as the Charity sometimes needs to react very quickly on applications for direct charitable expenditure, it has a policy of keeping the restricted and designated funds in short-term deposits which can be accessed immediately. The Trustees have sought investments that will show capital appreciation in a 5 to 10-year timescale, as well as generating income. The Trustees' investment policy is to generate increases in overall value that exceed the portfolio. The Trustees retain Charles Stanley & Co for professional investment advice and act on a discretionary basis. Trustees meet with them to review investment performance and ensure holdings are in line with our policy - which excludes investments in weapons, tobacco and alcohol. All organisations are responsible for mitigating the effects of climate change as far as they are able. Hence, following the recommendations of the UN Inter-governmental Panel of Climate Change in 2018, Stroud Hospitals League of Friends has withdrawn its investments from carbon-based industries and has increased its holdings in renewables. We are limited in the action we can take but the following guidance is followed as far as possible: i. scrutinise projects and requests for funding in regard to environmental impact, and in relation to single use plastic. ii. encourage and support our local NHS Trusts and partners to follow environmental good practice. iii. regularly review our policy and our organisation's environmental impact. All investment changes are notified and explained to the Chair and Treasurer as they occur. ## **Grant-making policies** In making decisions about what funding applications to support, the Trustees of Stroud Hospitals League of Friends are guided by a set of principles and obligations. We are also constrained by the terms of our legal Constitution and by Charity Commission regulations. We believe it helpful to outline these to provide a greater understanding of what we are likely to support at the two hospitals and Weaver's Croft. 1.Our guiding principle is that we should not replace statutory provision (i.e. what is considered a normal requirement of NHS service). Our role is to enhance or upgrade statutory provision, making the hospitals and Weaver's Croft a better experience for patients, their families and staff, than it would otherwise be. 2.We will also consider funding if our support would protect individual services that could be deemed under threat, or indeed if the hospitals themselves are under threat. Page 3 **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Report of the Trustees For The Year Ended 31 December 2023** 3.We will consider funding equipment and services which would contribute to making the hospitals specialist centres of excellence. 4. We will consider encouraging the development of new services at the hospitals and Weaver's Croft through financial support. 5. We will also consider funding anything which might assist in the recruitment and retention of staff. Clearly, there will be some grey areas, so discretion and interpretation are intrinsic to the Trustees' decision-making. Also, we may consider match-funding in the future, if seen as appropriate. ## **Fundraising activities and income generation** The League continued to receive small donations throughout the year, in particular from funeral collections. We are grateful that relatives recognise in this way the care received from the hospital. Public-facing fundraising activities have not fully resumed since the pandemic. That said, a fundraising concert was held in Holy Trinity Church in October 2022. The Chaplaincy Team within the parishes and the main hospital has continued to adjust to post-covid life. Whilst the annual service in support of the League has remained on hold, it is hoped that this will resume in 2024. Page 4 **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Report of the Trustees For The Year Ended 31 December 2023** ## **ACHIEVEMENT AND PERFORMANCE** ## a. **Introduction** This Annual Review covers the calendar year 2023. The wane of the covid pandemic by the end of 2022 enabled face to face activities to resume. This involved formal gatherings of the Trustees, allowing the four newly appointed Trustees (Sept 2022) to benefit from face to face participation from the outset. Opportunities to meet with key hospital staff eg Matron, Lead Midwife in their operational settings were welcomed. Some residual zoom-based meetings continued i.e. county wide League of Friends and Local Strategic Partnership (LSP) although these look likely to return to face to face format in 2024. ## b. **Review of activities** The refurbishments of the Minor Injuries and Illness Unit (MIIU) and Jubilee Ward, completed in 2022, are now well-embedded. Staff in both areas report enhanced working environments and patient experiences, in particular treatment and assessment settings, privacy and patient flow. Given the exponential increase of activity and acuity across the board, the positive impact in terms of efficiency, tranquillity and reassurance is palpable. A fridge for Jubilee Ward was purchased during 2023 for staff food. An updated treatment chair for outpatient ophthalmology was purchased. This enables clinical staff to work with improved access during treatments (including AMD) as well as improved comfort and tolerance for patients. The throughput of these clinics continues to expand. We supported the six month pilot of a patient safety system on Jubilee Ward. This links movement sensors (bed-based or chair) to the existing call-bell/alarm system allowing early audible alert of potentially risky mobility. The ward manager reports the value of this aid to support the cohort of patients who experience impaired cognition and reduced awareness of their own safety. Falls and related injuries are minimised. There were encouraging tentative discussions within the Trust regarding the development of a breast screening hub within Stroud Hospital. So far a potential location has been identified. We have committed to the notion of supporting equipment and refurbishment. A local facility would have positive impact, reducing patient travel further afield to Cheltenham and Dursley. Additionally, the usual support was provided to the Maternity Unit for pre - and post - natal yoga and singing groups. The suite expanded in September to include infant sleep peer support and maternal journalling. Hope for Tomorrow (HFT): We continued to fund the weekly visit of the specialist mobile unit which parks at the back of Stroud Hospital. This provides chemotherapy and other cancer treatment. Our grant covers the cost of the HFT Stroud service and we are delighted to be able to help in this way. It enables Stroud residents to receive their regular treatment in Stroud rather than travelling to Cheltenham and is much-valued ## **Horsfall House** : We continued to fund the free and much needed respite bed at Horsfall House for those registered with the local GP practices in Stroud and the Five Valleys area. During 2023 we funded 411 bed nights, split between 184 on the general nursing unit and 227 on the dementia nursing unit. The demand for the Horsfall House respite service has not reduced. Horsfall House remains very grateful to the League for its support since this enables continued provision to those families who need and benefit from respite. Some stays are planned to secure regular, sustaining breaks for unpaid carers; others are arranged at shorter notice, often urgent. Initial requests originate either directly from users or from health and social care professionals, such as GPs and social care assessors. On occasions, admission to hospital for medical care is averted. The League is privileged to be able to offer this much needed support No other allocations of funds were made to organisations working in the local community to provide vital health and wellbeing services. We will review the mechanism again at the beginning of next year (2024). ## **Weavers Croft** : (Community Mental Health): This valuable service continues to address mental health support, some of which need was exacerbated by pandemic isolation. The Men's Shed and permanent gazebo are well used. Page 5 **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Report of the Trustees For The Year Ended 31 December 2023** ## **Stroud Maternity** : Stroud continues to be affected, along with Gloucester and Cheltenham, by the national shortage of midwives. Overnight postnatal beds at Stroud have remained closed since December 2022. We recognise the value of the unit and remain committed to pragmatic, judicious support of it as a professional, supportive local facility for mums, dads and infants alike. We consulted with the main hospital and maternity unit regarding soft touches of welcome for new patients. Consequently we launched hospital welcome packs and maternity gift bags containing useful items (toiletries, activity items and literature) which have been well received by patients and staff alike. ## **Volunteers and Gardening Group** : Active recruitment to boost volunteer headcount enabled the shop/café to reopen Monday - Friday. A range of fresh wraps/salads/sandwiches, sweet treats and beverages is available. Payments can now be made by card or QR code. We purchased and installed café style tables and chairs at the end of the year. This inviting, accessible facility is enjoyed by staff, outpatients, visitors and occasional inpatients. A palpable feelgood factor. Volunteers on the wards provide companionship and engagement, particularly to patients whose journey through the post-admission health and care system is lengthy. The Gardening group still enthusiastically tend public spaces. Plants and compost are generously donated by Tesco, Co-op, M & S and B & Q. Linda Philips' plant/flower sales raised £1,400.00 ## c. **The NHS** As in all years, this report would not be complete without recognising the dedication, resilience and adaptability shown, in the face of the most extreme and unimaginably challenging circumstances, by all the staff of the two hospitals and Weavers Croft. This gratitude extends equally to the administrators of the two NHS Foundation Trusts and all the allied services, such as Ambulance and Primary Care. Locally and nationally, we are indebted to you all. ## **FINANCIAL REVIEW** ## a. **Going concern** After making the appropriate enquiries, the Trustees are satisfied that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## b. **Annual Review** In 2023 the Charity was notified of a further legacy of £100,000 which boosted income in the year. Investment income was at a similar level despite the significant investment in Hospital facilities made last year. Our Refreshment Counter reopened during the year and generated £11,017 of income and a useful surplus of c£2,500 after buying new equipment. Overall income was £153,101. Our expenditure amounted to £150,598 in total including £118,858 in charitable expenditure in support of healthcare in the Stroud District. Whilst no major projects had progressed to the stage requiring the Charity's financial support, the surplus of £2,503 is consistent with our policy to reduce Reserves over the next 4-5 years. Our investments grew in 2023 by £28,391 following several years of limited growth. The Charity closed 2023 with c£1.095m invested, c£321K in bank balances and c£300K in outstanding legacy receipts. Committed expenditure stands at £31,500 leaving the Charity with Total Funds of £1,681,475. Page 6 ## **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Report of the Trustees For The Year Ended 31 December 2023** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## a. **Governing Document** The League of Friends of Stroud Hospitals and the Health Centre is a charitable trust governed by the rules adopted on 14th March 1964, as amended and registered under the Charities' Act 1960, Charity Registration No. 230803. The charity has due regard for the Charity Commission's guidance on public benefit. The League is administered by an Executive Committee of up to ten people who usually meet six times a year, in addition to three General Members Committee meetings and the AGM. All Executive Committee members are appointed at the Annual General Meeting. The General Members Committee represents local organisations and volunteers. ## b. **Method of appointment or election of Trustees** Management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. ## c. **Privacy policy** In line with legislative requirements relating to data protection, the Trustees have implemented a Privacy Policy and have made the necessary arrangements to become compliant. This will be regularly reviewed and updated. ## d. **Relationships with other charities** The League is an affiliated member of Attend (formerly the National Association of Leagues of Hospital and Community Friends). The Chair has regular meetings with the Chairs of other Leagues of Friends in Gloucestershire. ## e. **Investment policy** There are no restrictions on the charity's power to invest and as the charity sometimes needs to react very quickly on applications for direct charitable expenditure, it has a policy of keeping the restricted and designated funds in short-term deposits which can be accessed immediately. The Trustees have sought investments that will show capital appreciation in a medium term 5-10 year timescale as well as generating income. The Trustees' investment policy is to generate increases in overall value that exceed the portfolio. The Trustees have retained Charles Stanley & Co to give professional investment advice and act on a discretionary basis. The trustees meet with them twice per annum to review investment performance and ensure holdings are in line with policy - which precludes investments in weapons, tobacco or alcohol. All investment changes are notified and explained to the Chair and Treasurer as they occur. ## f. **Reserves policy** The Charitable Incorporated Organisation has free reserves of c£1.61m. The Trustees have identified two significant projects at the Hospital which may require around £400K of financial support from the Charity in the next few years. Existing support for Community based projects is close to £100K per annum. The Charity has little in the way of ongoing costs. Having given the matter appropriate consideration, the Trustees have concluded that Free Reserves of around £50K are adequate. In order to reach this level, the Trustees intend to commit up to £300K per annum over the next 4-5 years to support local health provision including those based in the community. The majority of the Charity's Reserves are invested through Charles Stanley in order to preserve and grow their value. These investments will be liquidated in order to fund the intended charitable expenditure over the next few years. ## g. **Principal risks and uncertainties** The Trustees actively and regularly review the risks which the Charity faces. The Trustees believe that by having a clear strategy for spending reserves, use of an Investment Broker, ensuring appropriate controls exist over key financial systems and an open Trustee recruitment process, the key risks faced by the Charity have been mitigated appropriately. ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 7 ## **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Report of the Trustees For The Year Ended 31 December 2023** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued** The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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. Approved by order of the board of trustees on 18 September 2024 and signed on its behalf by: Mrs M Greaves - Trustee Page 8 ## **Report of the Independent Auditors to the Trustees of The League of Friends Of Stroud Hospital and Related Health Provision** ## **Opinion** We have audited the financial statements of The League of Friends Of Stroud Hospital and Related Health Provision (the 'charity') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet 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 (United Kingdom Generally Accepted Accounting Practice). ## In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **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 charity'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. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 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. 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 this gives rise to a material misstatement in the financial statements themselves. 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. ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. Page 9 ## **Report of the Independent Auditors to the Trustees of The League of Friends Of Stroud Hospital and Related Health Provision** ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so. ## **Our responsibilities for the audit of the financial statements** We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 a Report of the Independent Auditors 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: In assigning the audit engagement team we ensured that collectively they had the appropriate competence and capabilities to identify non-compliance with laws and regulations, highlight areas of the financial statements particularly susceptible to fraud and conduct appropriate additional enquiries where suspicions or weaknesses became evident. At the planning stage, we assessed the susceptibility of the charity's financial statements to material misstatement, including how fraud might occur. This involved preliminary planning discussions with management to obtain their assessment of fraud risk, to identify any incidences of fraud during the year and understand the measures and controls they had taken to combat the possibility of fraud. Our transaction testing and assessment of controls during the audit provided further evidence as to the validity of this initial assessment with regard to material misstatement and fraud. We identified areas of law and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the Trustees, and inspection of the Charity's regulatory and legal correspondence. The team were briefed with regard to laws and regulations and remained alert to any indication of non-compliance throughout the audit. The charity is subject to laws and regulations that directly affect the financial statements including legislation covering financial reporting including specific disclosures requirements and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. In assessing this compliance, we evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates in the measurement and presentation of profit within the financial statements. The charity is subject to other laws and regulations including those affecting the conduct and and remuneration of trustees, and the operation of the charity for charitable purpose being for public benefit. The consequences of non-compliance could have a material effect on the financial statements and jeopardise the going concern status of the charity. Page 10 ## **Report of the Independent Auditors to the Trustees of The League of Friends Of Stroud Hospital and Related Health Provision** Audit procedures designed to identify non-compliance with these laws and regulations included enquiry of the Trustees and other management and inspection of regulatory and legal correspondence. None of the procedures applied identified actual or suspected non-compliance. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. Where an irregularity is non-financial or has not reached a stage where its impact is financial, it is less likely to be identified by auditing procedures. In addition, to the extent that an irregularity involves collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls, there remains a high risk of non-detection. We are not responsible for detecting all instances of non-compliance with laws and regulations and cannot be expected to do so. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. ## **Use of our report** This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Kingscott Dix Limited Chartered Accountants and Statutory Auditor Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN 18 September 2024 Page 11 ## **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Statement of Financial Activities For The Year Ended 31 December 2023** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Other trading activities
3
Investment income
4
**Total**
**EXPENDITURE ON**
Raising funds
5
**Charitable activities**
Support costs
Grant funding of activities
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
105,837
11,017
35,947
152,801
16,758
14,982
109,196
140,936
28,391
40,256
1,570,178
1,610,434|Restricted
funds
£
300
-
-
300
-
-
9,662
9,662
-
(9,362)
80,403
71,041|31.12.23
Total
funds
£
106,137
11,017
35,947
153,101
16,758
14,982
118,858
150,598
28,391
30,894
1,650,581
1,681,475|31.12.22
Total
funds
£
7,634
-
36,869
44,503
9,367
13,351
68,389
91,107
(238,909)
(285,513)
1,936,094
1,650,581| |---|---|---|---|---| The notes form part of these financial statements Page 12 ## **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Balance Sheet** ## **31 December 2023** |Notes
**FIXED ASSETS**
Investments
12
**CURRENT ASSETS**
Stocks
13
Debtors
14
Cash at bank
**CREDITORS**
Amounts falling due within one year
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
16
**NET ASSETS**
**FUNDS**
18
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|31.12.23
£
1,095,252
262
300,162
321,298
621,722
(35,499)
586,223
1,681,475
-
1,681,475
1,610,434
71,041
1,681,475|31.12.22
£
1,045,407
262
201,539
449,472
651,273
(34,599)
616,674
1,662,081
(11,500)
1,650,581
1,570,178
80,403
1,650,581| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 18 September 2024 and were signed on its behalf by: M Greaves - Trustee W J Abbott (Treasurer) - Trustee The notes form part of these financial statements Page 13 **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Notes to the Financial Statements For The Year Ended 31 December 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The League of Friends of Stroud Hospital and Related Health Provision meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured. ## **Income from Investments** Income from investments is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. ## **Income from donated services & facilities** Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item, have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Charity is not recognised. Refer to the Trustees' Report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. ## **Interest Receivable** Interest of 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 institution with whom the funds are deposited. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Page 14 continued... **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Notes to the Financial Statements - continued** ## **For The Year Ended 31 December 2023** ## **1. ACCOUNTING POLICIES - continued** ## **Expenditure** Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising events and non-charitable trading. Expenditure on charitable activities in incurred on directly undertaking the activities which further the Charities objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund.. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Investments** Fixed asset investments are a form of financial instruments and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which care it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gains/(Losses) on investments in the Statement of Financial Activities. ## **Pension costs and other post-retirement benefits** The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Financial instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Liabilities are recognised where 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. Page 15 continued... **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Notes to the Financial Statements - continued For The Year Ended 31 December 2023** ## **1. ACCOUNTING POLICIES - continued** ## **Financial instruments** Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt of the amount it has recieved as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. ## **2. DONATIONS AND LEGACIES** |**2.**|**DONATIONS AND LEGACIES**||| |---|---|---|---| |||31.12.23|31.12.22| |||£|£| ||Donations|6,137|7,634| ||Legacies|100,000|-| |||106,137|7,634| |**3.**|**OTHER TRADING ACTIVITIES**||| |||31.12.23|31.12.22| |||£|£| ||Shop income|11,017|-| |**4.**|**INVESTMENT INCOME**||| |||31.12.23|31.12.22| |||£|£| ||Investment income|32,057|36,869| ||Deposit account interest|3,890|-| |||35,947|36,869| |**5.**|**RAISING FUNDS**||| ||**Other trading activities**||| |||31.12.23|31.12.22| |||£|£| ||Purchases|8,567|-| ||**Investment management costs**||| |||31.12.23|31.12.22| |||£|£| ||Interest payable and similar charges|8,191|9,367| ||Aggregate amounts|16,758|9,367| Page 16 continued... **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Notes to the Financial Statements - continued For The Year Ended 31 December 2023** |**6.**|**GRANTS PAYABLE**|||||| |---|---|---|---|---|---|---| ||||||31.12.23|31.12.22| ||||||£|£| ||Grant funding of activities||||97,927|64,566| ||The total grants paid to institutions during the year|was as follows:||||| ||||||31.12.23|31.12.22| ||||||£|£| ||Grants||||97,927|55,448| ||Equipment and amenities||||-|9,118| ||||||97,927|64,566| |**7.**|**SUPPORT COSTS**|||||| ||||||Governance|| ||Management||Finance||costs|Totals| |||£||£|£|£| ||Support costs|852||9,889|4,241|14,982| ||Support costs, included in the above, are as follows:|||||| ||||||31.12.23|31.12.22| ||||||Support|Total| ||||||costs|activities| ||||||£|£| ||Telephone||||852|646| ||Salaries||||9,561|7,349| ||Pensions||||31|-| ||Bank charges||||297|363| ||Auditors' remuneration||||4,241|4,710| ||Legal and professional fees||||-|283| ||||||14,982|13,351| |**8.**|**AUDITORS' REMUNERATION**|||||| ||||||31.12.23|31.12.22| ||||||£|£| ||Fees payable to the charity's auditors for the audit|of the charity's||||| ||financial statements||||4,241|4,710| |**9.**|**TRUSTEES' REMUNERATION AND BENEFITS**|||||| ||There were no trustees' remuneration or other benefits for||the|year ended|31 December|2023 nor for| ||the year ended 31 December 2022.|||||| ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. Page 17 continued... **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Notes to the Financial Statements - continued For The Year Ended 31 December 2023** |**10.**
**STAFF COSTS**
Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Administration
No employees received emoluments in excess of £60,000.
**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
7,379
Investment income
36,869
**Total**
44,248
**EXPENDITURE ON**
Raising funds
9,367
**Charitable activities**
Support costs
13,351
Grant funding of activities
59,171
**Total**
81,889
Net gains/(losses) on investments
(238,909)
**NET INCOME/(EXPENDITURE)**
(276,550)
**RECONCILIATION OF FUNDS**
Total funds brought forward
1,846,728
**TOTAL FUNDS CARRIED FORWARD**
1,570,178|31.12.23
£
9,561
31
9,592
31.12.23
1
Restricted
funds
£
255
-
255
-
-
9,218
9,218
-
(8,963)
89,366
80,403|31.12.22
£
7,349
-
7,349
31.12.22
1
Total
funds
£
7,634
36,869
44,503
9,367
13,351
68,389
91,107
(238,909)
(285,513)
1,936,094
1,650,581| |---|---|---| |||| |||| |||| |||| |||| |||| Page 18 continued... ## **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Notes to the Financial Statements - continued For The Year Ended 31 December 2023** ## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** ## **12. FIXED ASSET INVESTMENTS** |**MARKET VALUE**
At 1 January 2023
Additions
Disposals
Revaluations
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022|Listed
investments
£
1,045,407
405,345
(386,730)
31,230
1,095,252
1,095,252
1,045,407| |---|---| There were no investment assets outside the UK. All investments were valued in 2023 to market value. The original cost of the investments held at 31 December 2023 was £500,575. ## **13. STOCKS** |**STOCKS**||| |---|---|---| ||31.12.23|31.12.22| ||£|£| |Stocks|262|262| Page 19 continued... ## **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Notes to the Financial Statements - continued For The Year Ended 31 December 2023** |**14.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.12.23
£
Other debtors
-
Prepayments and accrued income
300,162
300,162
**15.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.12.23
£
Other creditors
35,499
**16.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
31.12.23
£
Other creditors
-
**17.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
31.12.23
Unrestricted
Restricted
Total
fund
funds
funds
£
£
£
Investments
1,095,252
-
1,095,252
Current assets
550,681
71,041
621,722
Current liabilities
(35,499)
-
(35,499)
Long term liabilities
-
-
-
1,610,434
71,041
1,681,475
**18.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.1.23
in funds
£
£
**Unrestricted funds**
General fund
1,570,178
40,256
**Restricted funds**
Medical Equipment Fund
74,289
(9,536)
Cashes Green
155
(126)
Nailsworth Community Nurses
5,225
-
Dementia Care at Weavers Croft
734
-
Minor Injuries Unit
-
300
80,403
(9,362)
**TOTAL FUNDS**
1,650,581
30,894|31.12.22
£
1,045
200,494
201,539
31.12.22
£
34,599
31.12.22
£
11,500
31.12.22
Total
funds
£
1,045,407
651,273
(34,599)
(11,500)
1,650,581
At
31.12.23
£
1,610,434
64,753
29
5,225
734
300
71,041
1,681,475| |---|---| Page 20 continued... **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Notes to the Financial Statements - continued For The Year Ended 31 December 2023** ## **18. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: ||Incoming|Resources|Gains and|Movement| |---|---|---|---|---| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|152,801|(140,936)|28,391|40,256| |**Restricted funds**||||| |Medical Equipment Fund|-|(9,536)|-|(9,536)| |Cashes Green|-|(126)|-|(126)| |Minor Injuries Unit|300|-|-|300| ||300|(9,662)|-|(9,362)| |**TOTAL FUNDS**|153,101|(150,598)|28,391|30,894| |**Comparatives for movement in funds**||||| ||||Net|| ||||movement|At| |||At 1.1.22|in funds|31.12.22| |||£|£|£| |**Unrestricted funds**||||| |General fund||1,846,728|(276,550)|1,570,178| |**Restricted funds**||||| |Medical Equipment Fund||83,407|(9,118)|74,289| |Cashes Green||-|155|155| |Nailsworth Community Nurses||5,225|-|5,225| |Dementia Care at Weavers Croft||734|-|734| |||89,366|(8,963)|80,403| |**TOTAL FUNDS**||1,936,094|(285,513)|1,650,581| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Medical Equipment Fund
Cashes Green
Respite Care
**TOTAL FUNDS**|Incoming
resources
£
44,248
-
155
100
255
44,503|Resources
expended
£
(81,889)
(9,118)
-
(100)
(9,218)
(91,107)|Gains and
Movement
losses
in funds
£
£
(238,909)
(276,550)
-
(9,118)
-
155
-
-
-
(8,963)
(238,909)
(285,513)| |---|---|---|---| Page 21 continued... **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Notes to the Financial Statements - continued For The Year Ended 31 December 2023** ## **18. MOVEMENT IN FUNDS - continued** **Nailsworth Community Nurses Fund** : To support the work of the Community Nurses operating from Nailsworth. **Dementia Care at Weavers Croft Fund** : To provide support for dementia care at Weavers Croft Unit **Medical Equipment Fund:** A fund to be used to provide medical equipment. **Minor Injuries Unit Fund:** To provide support for the minor injuries unit. **Cashes Green Fund** : To provide support for Cashes Green ward. ## **19. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2023. Page 22 ## **The League of Friends Of Stroud Hospital and Related Health Provision** ## **Detailed Statement of Financial Activities For The Year Ended 31 December 2023** ||31.12.23|31.12.22| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|6,137|7,634| |Legacies|100,000|-| ||106,137|7,634| |**Other trading activities**||| |Shop income|11,017|-| |**Investment income**||| |Investment income|32,057|36,869| |Deposit account interest|3,890|-| ||35,947|36,869| |**Total incoming resources**|153,101|44,503| |**EXPENDITURE**||| |**Other trading activities**||| |Shop expenditure|8,567|-| |**Investment management costs**||| |Just giving charges|198|216| |Investment management fees|7,993|9,151| ||8,191|9,367| |**Charitable activities**||| |Equipment and amenities|20,931|3,823| |Grants to institutions|97,927|64,566| ||118,858|68,389| |**Support costs**||| |**Management**||| |Telephone|852|646| |**Finance**||| |Salaries|9,561|7,349| |Pensions|31|-| |Bank charges|297|363| ||9,889|7,712| |**Governance costs**||| |Auditors' remuneration|4,241|4,710| |Carried forward|4,241|4,710| This page does not form part of the statutory financial statements Page 23 ## **The League of Friends Of Stroud Hospital and Related Health Provision** |**Detailed Statement of Financial Activities**||| |---|---|---| |**For The Year Ended 31 December 2023**||| ||31.12.23|31.12.22| ||£|£| |**Governance costs**||| |Brought forward|4,241|4,710| |Legal and professional fees|-|283| ||4,241|4,993| |Total resources expended|150,598|91,107| |**Net income/(expenditure) before gains**||| |**and losses**|2,503|(46,604)| |**Realised recognised gains and losses**||| |Realised gains/(losses) on fixed asset||| |investments|28,391|(238,909)| |**Net income/(expenditure)**|30,894|(285,513)| This page does not form part of the statutory financial statements Page 24