REGISTERED COMPANY NUMBER: CE030275 (England and Wales) REGISTERED CHARITY NUMBER: 1200507
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
FOR
LEAGUE OF FRIENDS OF MARLOW HOSPITAL
Richardson Jones Chartered Accountants Mercury House 19-21 Chapel Street Marlow Buckinghamshire SL7 3HN
LEAGUE OF FRIENDS OF MARLOW HOSPITAL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | ||
| Notes to the Financial Statements | 4 | to | 5 |
| Detailed Statement of Financial Activities | 6 |
LEAGUE OF FRIENDS OF MARLOW HOSPITAL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2024. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a constitution, and constitutes a Charitable Incorporated Organisation, as defined by the Charities Act 2011.
In June 2022, the trustees formed a CIO, with the object of transferring all the assets of the existing unincorporated charity into this new organisation. The CIO was registered with the Charity Commissioners on 29 September 2022. The transfer of assets was agreed on 20 July 2023 and was commenced during in the year ended 31st March 2024. The trustees intend completing this transfer by 31st March 2025.
These financial statements have been prepared on the basis of the two entities having already merged, as this remains the full intention of the trustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
CE030275 (England and Wales)
Registered Charity number
1200507
Registered office
Lacemaker House 5-7 Chapel Street Marlow Buckinghamshire SL7 3HN
Trustees
P A R Land Dr M Johnson Dr A Galvin Mrs H Hollywood (resigned 9.10.23) S Bramhall (resigned 17.7.23) J Heighway
Company Secretary
Approved by order of the board of trustees on 6th November 2024 and signed on its behalf by:
P A R Land - Trustee
Page 1
LEAGUE OF FRIENDS OF MARLOW HOSPITAL
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
| 31.3.24 | 31.3.23 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fund | Total funds | |||
| Notes | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Investment income | 2 | 15,705 | 16,438 | |
| EXPENDITURE ON | ||||
| Raising funds | 3 | 735 | 1,036 | |
| Charitable activities | ||||
| Other charitable activities | 1,573 | 1,590 | ||
| Hospital build | 19,946 | 125,509 | ||
| Other | 2,346 | 3,052 | ||
| Total | 24,600 | 131,187 | ||
| Net gains/(losses) on investments | 22,603 | (38,469) | ||
| NET INCOME/(EXPENDITURE) | 13,708 | (153,218) | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 532,245 | 685,463 | ||
| TOTAL FUNDS CARRIED FORWARD | 545,953 | 532,245 | ||
The notes form part of these financial statements
Page 2
LEAGUE OF FRIENDS OF MARLOW HOSPITAL
BALANCE SHEET 31ST MARCH 2024
| 31.3.24 | 31.3.23 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Investments | 5 | 391,434 | 368,752 |
| Cash at bank | 154,519 | 163,493 | |
| 545,953 | 532,245 | ||
| NET CURRENT ASSETS | 545,953 | 532,245 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 545,953 | 532,245 | |
| NET ASSETS | 545,953 | 532,245 | |
| FUNDS | |||
| Unrestricted funds | 545,953 | 532,245 | |
| TOTAL FUNDS | 545,953 | 532,245 | |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 6th November 2024 and were signed on its behalf by:
P A R Land - Trustee
The notes form part of these financial statements
Page 3
LEAGUE OF FRIENDS OF MARLOW HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| Deposit account interest Investment income RAISING FUNDS Investment management costs Investment fees |
31.3.24 £ 1,299 14,406 15,705 31.3.24 £ 735 |
31.3.23 £ 434 16,004 16,438 31.3.23 £ 1,036 |
|---|---|---|
3. RAISING FUNDS
continued...
Page 4
LEAGUE OF FRIENDS OF MARLOW HOSPITAL
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023.
5. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23 £ £ AJ Bell Investment 391,434 368,752
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2024.
Page 5
LEAGUE OF FRIENDS OF MARLOW HOSPITAL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024
| INCOME AND ENDOWMENTS Investment income Deposit account interest Investment income Total incoming resources EXPENDITURE Investment management costs Investment fees Charitable activities Hospital build Gardening Staff Wellbeing Support costs Management Insurance Finance Bank charges Governance costs Accountancy and legal fees Total resources expended Net expenditure before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net expenditure |
31.3.24 £ 1,299 14,406 15,705 15,705 735 19,946 1,440 133 21,519 - 6 2,340 24,600 (8,895) - (8,895) |
31.3.23 £ 434 16,004 16,438 16,438 1,036 125,509 1,440 150 127,099 800 - 2,252 131,187 (114,749) 13,272 (101,477) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 6