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2020-12-31-accounts

Charity number: 200905

TORBAY HOSPITAL LEAGUE OF FRIENDS

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

TORBAY HOSPITAL LEAGUE OF FRIENDS

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 6
Independent Auditors' Report on the Financial Statements 7 - 10
Consolidated Statement of Financial Activities 11
Consolidated Balance Sheet 12
Charity Balance Sheet 13
Consolidated Statement of Cash Flows 14
Notes to the Financial Statements 15 - 32

TORBAY HOSPITAL LEAGUE OF FRIENDS

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020

Trustees Mr G L Adroit
Mrs J Berry
Mr T Brown, Vice President
Mrs S Cox
Mr T Cox
Mrs L Dewis (resigned 17 August 2020)
Mr M K Evans, Vice President
Mrs P Eyles
Mrs H Gargette (resigned 7 September 2020)
Mrs J M Hearne, Vice President
Mrs L Hookings, Vice President
Mr M A Hookings
Mrs B Lawton
Mrs L McCaig
Mrs C M Piper, Vice President
Miss P A Roberts, President
Mr D Rogers
Mr R Tuttle
Mrs E Welch (resigned 17 August 2020)
Mrs K N Westaway, Chair
Mr P F V White, Vice President/Honorary Secretary
Charity registered
number
200905
Principal office
Highlyn
6 Haldon Close
Torquay
Devon
TQ1 2NA
Independent auditors
Bishop Fleming LLP
Chartered Accountants
Century House
Nicholson Road
Torquay
TQ2 7TD
Solicitors
Wollens
Carlton House
30 The Terrace
Torquay
Devon
TQ1 1BS

Page 1

TORBAY HOSPITAL LEAGUE OF FRIENDS

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The Trustees present their report along with the financial statements of Torbay Hospital League of Friends (the charity and the group) for the year ended 31 December 2020. The Trustees confirm that the Annual Report and financial statements of the charity and the group comply with the current statutory requirements, the requirements of the charity and the group's governing document and the provisions of the Statement of Recommended Practice (SORP), 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 2015).

Objectives and activities

a. Policies and objectives

The objects of the League, as set out in the Governing Document, shall be to relieve patients and former patients of the Torbay Hospitals (now only the Torbay Hospital) and generally to support the work of the hospital. To achieve this overall purpose the Governing Document sets out various practical steps to be taken.

The aims of the Charity are to support the continuing development of Torbay Hospital mainly by supplementing funds available for equipment as well as for research education and training. Additionally, where it can, the Charity aims to foster interest in the work of the Hospital by the provision of voluntary work within the Hospital.

The main objectives are to achieve as great a financial contribution as possible and continue to support Hospital services by the provision of such other services as we are able.

b. Strategies for achieving objectives

These included holding regular monthly meetings of the Management Committee to keep close control over income and expenditure and liaising with the Hospital Trust to obtain details of what equipment is needed or whether the provision of funds for improvement or enhancement of staff or other facilities could be made. The Charity also seeks to publicise its efforts inter alia by holding a variety of events both small and large throughout the year including Flag Days, Draws, and the sale of Christmas Cards. Where appropriate, consideration is given to the making of a public appeal to raise funds for a specific project.

c. Activities undertaken to achieve objectives

Legacy income is a significant part of the Charity’s overall income and as such the Charity will be doing all it can to promote itself as a Charity worthy of charitable giving. The Charity continues to enjoy a healthy level of income from its voluntary and commercial outlet, which has enabled it to continue making available substantial monies to the Hospital for a variety of purposes requested by the Hospital. The accounts give a full picture of the extent of the grants made. The Management committee continues to encourage the Hospital to approach the League for donations of any kind for items however large or small.

d. Volunteers

Until the lock down caused by Covid-19 regulations the League had the benefit of being able to call upon approximately 100 Volunteers to work in its Butterflies Cafe and Guiding services that it provided within the Hospital. Following the lock down we had to close our café and could no longer provide guiding services. It was hoped that this would be only a temporary measure but in the event the closure is permanent. Whilst we can no longer provide cafeteria services, we are hoping that our volunteers who wish to do so will be able to return within the Hospital as soon as it is safe and show the face of the League either as Guides or in a new kiosk on Level 4. Additionally, the League has the benefit of a loyal and highly productive Linen League. Although they too have been subject to lock down for the majority of 2020 it is hoped that they will soon be able to return to produce all kinds of garments for wards and departments throughout the Hospital. The Trustees take the opportunity of thanking all the Volunteers for the work they have done throughout the year.

Achievements and performance

Page 2

TORBAY HOSPITAL LEAGUE OF FRIENDS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Achievements and performance (continued)

a. Key performance indicators

The League has been unable to organise any activities since March 2020. Activities such as Coffee mornings, Flag Days, sale of Christmas Cards, Draws, Bed Push, Collection buckets and other social events are designed to promote the League and its aims to the public to secure funds to be passed back to the Hospital. The Trustees intend that these activities shall recommence as soon as possible

Total sums paid to the Hospital this year are £21,768: (2019: £1,345,151). The League has agreed a protocol with the Hospital to ensure that grants made to the Hospital for items of equipment that the Hospital are not able to finance from alternative sources, but which they consider to be necessary and which they are able to maintain throughout its expected life. The Protocol agreed is:

If such bids are not considered by the MEC they will be assessed by the Director of Nursing or Medical Director and if appropriate will then be referred to the League.

b. Review of activities

The League has been unable to organise activities throughout the year, which would promote the League and its objects to the public to secure funds for the Hospital. Such events publicise the work of the League and increases awareness of what the League does for the Community and are as important as making a profit for the League. The Trustees will be doing all they can to re-instate such activities as soon as possible.

c. Investment policy and performance

As the League has variable income derived from legacies, fund raising and similarly variable payments dependent upon opportunities presented to it by the Hospital, the bulk of its funds held until payment are invested in interest bearing Bank accounts and Investment Companies. The Trustees consider this to be the simplest and most risk-free method to earn income and maintain capital value.

Financial review

a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation 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. Reserves policy

The Trustees have reviewed the charity’s needs for reserves in line with the guidance issued by the Charity Commission and have decided that unrestricted reserves should be sufficient to enable it at all times to meet its current designated commitments and anticipate future calls by the Hospital as and when they arise with a minimum of £250,000.

Page 3

TORBAY HOSPITAL LEAGUE OF FRIENDS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

c. Financial risk management objectives and policies

The League is entirely dependent upon the generosity of the public to make donations either through legacies, gifts or support to the various fund-raising activities conducted throughout the year by the League and its members. The income from all sources during the year was £801,397 (2019: £586,317).

Structure, governance and management

a. Constitution

The League is an unincorporated body, constituted under a Governing Document originally drawn up in 1954 and subsequently amended, to provide amenities and services for patients and staff at Torbay Hospital. Over the years it has become one of the leading Leagues in the country having provided gifts exceeding £20,000,000.

The League is able to enhance what Torbay Hospital provides and buy 'extras’ that can bring the most advanced methods of treatment to benefit local people and visitors to the area. Members of the League act in a number of ways for the benefit of Torbay Hospital by supporting its work, recruiting volunteers, maintaining the relationship between volunteers and the Hospital and creating a link between the Hospital and the community it serves.

b. Methods of appointment or election of Trustees

The Trustees, who together form the Management Committee, are appointed under the terms of the Governing Document from the membership body (save for appointments required under the Governing Document) provided they are also members of the League. Elected trustees serve for a period of five years after which they may put themselves forward for re-election. The Management Committee may remove the Secretary and Treasurer at any time.

c. Organisational structure and decision-making policies

The Management Committee meet monthly to approve grants to the Hospital. Protocols are in place with the Hospital to ensure that bids for grants from the League are first assessed by the Hospital on the basis of need and affordability of maintenance to ensure that any equipment purchased will be of the greatest benefit and can be properly serviced and maintained by the Hospital for its expected lifetime. The Management Committee deals with administration relating to the general activities of the League including receiving a monthly financial report, and reports from Membership, Publicity, Linen League and regarding Events organised by the League. The League’s finances are dealt with by the Hon Sec who reports monthly to the Management Committee. Various members of the Management Committee have specific roles under the overall control of the Management Committee to whom they report at the monthly meetings.

The League is a member of the Devon Association of Hospital Leagues of Friends.

The Charity has a wholly owned non-charitable subsidiary, The Torbay Hospital League of Friends Shop Limited, whose activities and trading performance is included within the accounts submitted with this report. Until the lockdown the Trading Company employed two persons as Organisers of the Canteen and is registered for VAT. The Hon. Sec. of the Charity is a Director and Secretary of the Trading Company; the Voluntary Organiser is also a Director along with a Trustee of the main charity. Since the lockdown there has been one paid employee who has been on furlough. Hitherto the Trading Company has made a significant contribution to the Charity’s funds which will now be lost following the closure of the Cafeteria. It is intended that an application to have the company struck off the register will be lodged in due course.

Page 4

TORBAY HOSPITAL LEAGUE OF FRIENDS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Structure, governance and management (continued)

d. Policies adopted for the induction and training of Trustees

New Trustees are found through recommendation by existing members/trustees or by word of mouth or are volunteers who wish to become more involved with the Charity. Their names, having been proposed and seconded, are presented at the Annual General Meeting before being voted upon. New Trustees are given an induction pack so that they are aware of the Charity’s background, its financial basis and their obligations and responsibilities as Trustees.

e. Risk management

The General Committee is responsible for the management of risks faced by the Charity and continually review those risks and put in place practices and controls to be observed throughout the year. Those controls include:

f. Fundraising

The League organises fundraising events and co-ordinates the activities of supporters both in the hospital and in the wider community The League does not use professional fundraisers or involve commercial participators. There have been no complaints about fundraising activity this year.

The League follows as closely as possible relevant parts of the Fundraising Regulator’s Code of Fundraising Practice. Volunteer fundraisers are briefed before they raise funds for the League and given updates/ reminders as necessary. We assist and monitor supporters engaged in fundraising activity to ensure compliance of the Code with particular focus on how to approach and work with members of the public who are potentially vulnerable.

Following a review of marketing generally any direct marketing is to be undertaken by a Trustee and member of the Management Committee to ensure that it is not unreasonably intrusive or persistent. All marketing material will contain clear instructions on how a person can be removed from mailing lists.

Contact is to be made only to members of the public who consent and on an infrequent basis. Our Newsletter is sent out to Members on a bi-annual basis and our e-Newsletter is currently sent on a monthly basis to members of the public who have given their consent.

Plans for future periods

The League intends to continue to support Torbay Hospital to the full extent it can and in particular:

Page 5

TORBAY HOSPITAL LEAGUE OF FRIENDS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees' 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 & 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 Group and the charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the charity and 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 Group and the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditors

The auditors, Bishop Fleming LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees on 27 May 2021 and signed on their behalf by:

Mrs K N Westaway

Chair

Page 6

TORBAY HOSPITAL LEAGUE OF FRIENDS

Opinion

We have audited the financial statements of Torbay Hospital League of Friends (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 December 2020 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Group's or the parent 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.

Page 7

TORBAY HOSPITAL LEAGUE OF FRIENDS

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TORBAY HOSPITAL LEAGUE OF FRIENDS (CONTINUED)

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 Auditors' Report thereon. Our opinion on the financial statements does not cover the other information and 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, 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 Group's and the parent 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 Group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Page 8

TORBAY HOSPITAL LEAGUE OF FRIENDS

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TORBAY HOSPITAL LEAGUE OF FRIENDS (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 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 an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

• the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud, which included incorrect recognition of revenue, management override of controls using manual journal entries, purchase ledger, and identified the greatest potential for fraud as incorrect recognition of revenue and management override using manual journal entries.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We identified and obtained an understanding of the laws and regulations that are of significance to the Charity by discussions with Trustees and by updating our understanding of the sector in which the Charity operated in. Laws and regulations that are of direct significance to the Charity and of which non compliance could result in material misstatement are the Charities Act, Charities SORP and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charity’s ability to operate or to avoid a material penalty.

Our procedures to respond to risks identified included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

• reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue, in line with longer term contract accounting methodologies;

Page 9

TORBAY HOSPITAL LEAGUE OF FRIENDS

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TORBAY HOSPITAL LEAGUE OF FRIENDS (CONTINUED)

journal entries and other adjustments; and assessing whether the judgements made in making accounting estimates are indicative of a potential bias.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

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 Auditors' Report.

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 its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Bishop Fleming LLP Chartered Accountants Statutory Auditors Century House Nicholson Road Torquay TQ2 7TD 13 October 2021

Bishop Fleming LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 10

TORBAY HOSPITAL LEAGUE OF FRIENDS

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Note
Income from:
Donations and legacies
4
Other trading activities:
5
Fundraising
Trading activities
Investments
6
Other income
7
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2020
£
10,040
-
-
-
-
10,040
-
9,668
9,668
372
65,025
372
65,397		 Unrestricted
funds
2020
£
722,613
4,158
51,192
5,503
7,899
791,365
95,608
28,357
123,965
667,400
1,552,539
667,400
2,219,939		 Total
funds
2020
£
732,653
4,158
51,192
5,503
7,899
801,405
95,608
38,025
133,633
667,772
1,617,564
667,772
2,285,336		 Total
funds
2019
£
340,101
19,100
216,263
10,855
-
586,319
138,325
1,360,710
1,499,035
(912,716)
2,530,280
(912,716)
1,617,564

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 15 to 32 form part of these financial statements.

Page 11

TORBAY HOSPITAL LEAGUE OF FRIENDS

CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2020

Note
Fixed assets
Tangible assets
13
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds		 -
82,367
2,206,475
2,288,842
(10,993)		 2020
£
7,487
7,487
2,277,849
2,285,336
2,285,336
2,285,336
65,397
2,219,939
2,285,336		 1,341
29,545
1,575,851
1,606,737
(42,854)		 2019
£
53,681
53,681
1,563,883
1,617,564
1,617,564
1,617,564
65,025
1,552,539
1,617,564

The financial statements were approved and authorised for issue by the Trustees on 27 May 2021 and signed on their behalf by:

Mrs K N Westaway

Chair

The notes on pages 15 to 32 form part of these financial statements.

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TORBAY HOSPITAL LEAGUE OF FRIENDS

CHARITY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 DECEMBER 2020

Note
Fixed assets
Investments
14
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds		 81,507
2,118,710
2,200,217
(10,760)		 2020
£
2
2
2,189,457
2,189,459
2,189,459
2,189,459
65,397
2,124,062
2,189,459		 102,440
1,408,203
1,510,643
(25,322)		 2019
£
2
2
1,485,321
1,485,323
1,485,323
1,485,323
65,025
1,420,298
1,485,323

The financial statements were approved and authorised for issue by the Trustees on 27 May 2021 and signed on their behalf by:

Mrs K N Westaway

Chair

The notes on pages 15 to 32 form part of these financial statements.

Page 13

TORBAY HOSPITAL LEAGUE OF FRIENDS

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Interests from investments
Purchase of tangible fixed assets
Net cash provided by investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 15 to 32 form part of these financial statements		 2020
£
625,121
5,503
-
5,503
-
630,624
1,575,851
2,206,475		 2019
£
(803,710)
10,502
(265)
10,237
-
(793,473)
2,369,324
1,575,851

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TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. General information

Torbay Hospital League of Friends is a registered Charity, incorporated in England within the United Kingdom. The address of the registered office is given in the company information page of these financial statements.

2. Accounting policies

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Torbay Hospital League of Friends 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.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Group and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

2.2 GOING CONCERN

The trustees have considered the outbreak of COVID-19 and the likely impact it will have on the ongoing operations of the Torbay Hospital League of Friends. The Charity has sufficient cash to meet all known outgoings including Shop outgoings in the next 12 months. Because of the nature of the Charity, cash outflows can be reduced to a minimum to ensure the viability of both itself and the shop. The Charity will only make gifts to the Hospital when there are funds available to do so. There is no ongoing cash requirement within the next 12 months which cannot be met by current funds.

On the basis of the above the trustees consider it appropriate for the financial statements for the year ended 31 December 2020 to be prepared on a going concern basis.

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TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.3 INCOME

All income 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.

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 tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

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TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.4 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those 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.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 INTEREST RECEIVABLE

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

Long-term leasehold property - Over the term of the lease - Plant and machinery 25% reducing balance - Fixtures, fittings and equipment 20% straight line/25% reducing balance

2.7 INVESTMENTS

Fixed asset investments are a form of financial instrument 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 case 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 Consolidated Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

Page 17

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.8 STOCKS

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.9 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.11 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received 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 Consolidated Statement of Financial Activities as a finance cost.

2.12 FINANCIAL INSTRUMENTS

The Group 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.

2.13 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular 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.

Page 18

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

4. Income from donations and legacies

Donations
Legacies
Gift aid
Total 2019		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
40
58,653
10,000
661,159
-
2,801
10,040
722,613
-
340,101		 Total
funds
2020
£
58,693
671,159
2,801
732,653
340,101		 Total
funds
2019
£
47,534
289,985
2,582
340,101

Page 19

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

5. Income from other trading activities

Income from fundraising events

Unrestricted
funds
2020
£
Events committee
-
Wellswood District
1,380
Torquay Girls Grammar School
1,726
Coffee mornings
-
Pennies for Plastic
491
Supermarket collections
-
Raffles and fayres
491
Jewellery sales
70
Bed push
-
4,158
Total 2019
19,100
Income from non charitable trading activities
Unrestricted
funds
2020
£
Torbay Hospital League of Friends Shop Limited
51,192
Total 2019
216,264		 Total
funds
2020
£
-
1,380
1,726
-
491
-
491
70
-
4,158
19,100
Total
funds
2020
£
51,192
216,264		 Total
funds
2019
£
3,759
1,326
1,212
1,532
2,226
700
5,887
1,125
1,333
19,100
Total
funds
2019
£
216,264

Page 20

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

6. Investment income

Investment income
Interest receivable
Total 2019
Other incoming resources
CJRS
Analysis of expenditure by activities
Gifts to hospital
Other charitable activities
Total 2019		 Direct costs
2020
£
21,768
-
21,768
1,345,151		 Unrestricted
funds
2020
£
5,347
156
5,503
10,855
Unrestricted
funds
2020
£
7,899
Support
costs
2020
£
-
16,257
16,257
15,559		 Total
funds
2020
£
5,347
156
5,503
10,855
Total
funds
2020
£
7,899
Total
funds
2020
£
21,768
16,257
38,025
1,360,710		 Total
funds
2019
£
10,502
353
10,855
Total
funds
2019
£
-
Total
funds
2019
£
1,345,151
15,559
1,360,710

7. Other incoming resources

8. Analysis of expenditure by activities

Page 21

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Office costs
Depreciation
Sundry expenses
Bank charges
Legal and professional fees
Total 2019		 2020
£
5,039
-
67
-
11,151
16,257
15,559		 Total
funds
2020
£
5,039
-
67
-
11,151
16,257
15,559		 Total
funds
2019
£
5,644
6
48
750
9,111
15,559

9. Gifts to hospital

Opthamology pachymeter
Endoscopy equipment
Happy rehab frame
Mindray monitoring system
Mathmos projector
Raizer chairs
Turner ward upgrade
Patient experience
Cook and eat sessions
Training room
Other costs
Total 2019		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
-
11,908
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,960
-
5,900
-
21,768
16,870
1,326,958		 Total
funds
2020
£
11,908
-
-
-
-
-
-
-
-
3,960
5,900
21,768
1,343,828		 Total
funds
2019
£
2,658
1,266,893
14,714
14,730
115
17,700
15,000
11,437
581
-
-
1,343,828

Page 22

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

10. Auditors' remuneration

The auditors' remuneration amounts to an auditor fee of £4,000 ( 2019 - £4,000 ) , and statutory accounts preperation, tax compliance and company secretarial services of £5,297 (2019 - £4,448).

11. Staff costs

Wages and salaries
Social security costs		 Group
2020
£
17,808
-
17,808		 Group
2019
£
28,897
460
29,357

The average number of persons employed by the charity during the year was as follows:

Group Group
2020 2019
No. No.
3 5

No employee received remuneration amounting to more than £60,000 in either year.

The subsidiary of the charity had an average number of employees during the year of 3, including 2 of the Directors and Trustees of the charity (2019: 4). All employee time is involved in providing either support to the governance of the charity or support services to charitable activities

Page 23

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

12. Related party transactions and trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).

During the year ended 31 December 2020, expenses totalling £335 were reimbursed or paid directly to 4 Trustees (2019 - £912 to 6 Trustees).

Two members of the Committee hold shares as nominees for the Charity in its subsidiary company - Torbay Hospital League of Friends Shop Limited.

The company was formed with the express purpose of carrying out all the retail trading activities within and/or connected with the Charity.

Two members of the Committee are Directors of Torbay Hospital League of Friends Shop Limited and received a combined remuneration of £3,552 during the year (2019: £6,730).

This company has entered into a covenant to gift its profits from its main activity to the Charity. Profits covenanted in the year totalled £Nil (2019: £79,009).

As at 31 December 2020, the Charity owed £3,140 to the Torbay Hospital League of Friends Shop Limited. As at 31 December 2019 the Charity was owed £75,860 by the Torbay Hospital League of Friends Shop. No interest is charged on this balance and there is no set date for repayment.

The charity considers its key management personnel comprise the Trustees of the charity and Directors of the subsidiary company. The total employment benefits of the key management personnel were £17,824 (2019: £26,096).

Page 24

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

13. Tangible fixed assets

Group

Cost or valuation
At 1 January 2020
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
Impairment charge
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019
Charity
Cost or valuation
At 1 January 2020
At 31 December 2020
Depreciation
At 1 January 2020
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019		 Long-term
leasehold
property
£
129,895
129,895
77,939
12,990
31,479
122,408
7,487
51,956
Page 25		 Plant and
machinery
£
7,294
7,294
5,905
281
1,108
7,294
-
1,389		 Fixtures and
fittings
£
35,378
35,378
35,042
84
252
35,378
-
336		 Total
£
172,567
172,567
118,886
13,355
32,839
165,080
7,487
53,681
Fixtures and
fittings
£
30,027
30,027
30,027
30,027
-
-

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

13. Tangible fixed assets (continued)

Charity (continued)

14. Fixed asset investments

Principal subsidiaries

The following was a subsidiary undertaking of the charity:

Company Holding
number
Torbay Hospital League of Friends Shop Limited 03024219 100%
The financial results of the subsidiary for the year were:
Income Expenditure Profit/(Loss) Net assets
£ £ / Surplus/ £
(Deficit) for
the year
£
Torbay Hospital League of Friends 59,247 (95,614) (38,881) 93,363
Shop Limited

Due to the impact of the COVID pandemic, in December 2020 the trading subsidiary company, Torbay Hospital League of Friends Shop, was informed by the Hospital that due to changes being made on Level 2 where the shop is situated, the break clause in the lease was being invoked. As a result of this decision, the directors have taken the decision to cease trading. The Directors have therefore now disposed of all saleable assets with the bulk of the catering equipment being sold back to the Hospital. All foodstuffs still in date have been donated to other charities. The Company will close and in due course will be deregistered both regarding Vat and at Companies House.

As a result of this, the director of the Company no longer consider it to be a going concern and have, therefore, drawn up the financial statements on a basis other than going concern.

15. Stocks

Group Group
2020 2019
£ £
Finished goods and goods for resale - 1,341

Page 26

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

16. Debtors

Group
2020
£
Due within one year
Amounts owed by group undertakings
-
Other debtors
861
Prepayments and accrued income
-
Legacies receivable
81,506
82,367
17.
Creditors: Amounts falling due within one year		 Group
2019
£
-
857
2,110
26,578
29,545		 Charity
2020
£
-
-
-
81,507
81,507		 Charity
2019
£
75,861
-
-
26,579
102,440
Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Accruals and deferred income		 Group
2020
£
-
-
350
10,643
10,993		 Group
2019
£
5,382
-
492
36,980
42,854		 Charity
2020
£
-
3,140
-
7,620
10,760		 Charity
2019
£
-
-
-
25,322
25,322

Page 27

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

18. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Equipment commitments
General funds
General Funds
Total Unrestricted funds
Restricted funds
Cardiac unit
Radiotherapy unit
Diabetic and Asthmatic patients
Neurology department
Heart machines
Patient and visitor care
EAU 3
Linen League
Endoscopy
Hospital Wards
Cardiology
Total of funds		 Balance at 1
January
2020
£
1,516,000
36,539
1,552,539
5,719
15,323
22,480
2,347
250
14,376
500
20
2,010
2,000
-
65,025
1,617,564		 Income
£
-
791,365
791,365
-
-
-
-
-
-
-
40
-
-
10,000
10,040
801,405		 Expenditure
£
(29,800)
(94,165)
(123,965)
-
-
-
-
-
-
-
(60)
-
-
(9,608)
(9,668)
(133,633)		 Transfers
in/out
£
25,840
(25,840)
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31
December
2020
£
1,512,040
707,899
2,219,939
5,719
15,323
22,480
2,347
250
14,376
500
-
2,010
2,000
392
65,397
2,285,336

Page 28

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

18. Statement of funds (continued)

The Designated fund represents the future anticipated equipment commitments which have been agreed by the committee prior to the year end.

The Cardiac unit restricted fund represents specific bequests which have to be used towards equipmentand comfort of the patients of the cardiac department at the Hospital.

The Radiotherapy unit restricted fund represents specific bequests which have to be used towards equipment and comfort of the patients of the radiotherapy unit at the Hospital.

The Diabetic and Asthmatic patient restricted fund represents specific bequests which have to be used towards equipment and comfort of these patients.

The Neurology department restricted funds represents a specific donation to be used towards Neurophysiology equipment to be used within the department.

The Heart machines/ambulance services fund represents specific donations and bequests to be used towards heart machines/ambulance services.

The Patient and visitor care fund represents specific donations and bequests to be used towards such costs to provide comfort for patients and visitors of Torbay Hospital.

The Endoscopy fund represents specific donations and bequests to be used toward such treatments.

The Hospital Wards funds represents specific donations and bequests to be used toward the Lilly Derry Ward.

The Cardiology fund represents specific donations and bequests to be used toward such treatments.

The transfer between funds are necessary in order to ensure the matching of incoming resources specifically designated by the Committee with the charity's own resources.

Page 29

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Equipment commitments
Critical Care Unit commitments
General funds
General Funds
Total Unrestricted funds
Restricted funds
Cardiac unit
Radiotherapy unit
Diabetic and Asthmatic patients
Neurology department
Heart machines
Turner Ward
Patient and visitor care
EAU 3
Linen League
Endoscopy
Hospital Wards
Total of funds		 Balance at
1 January
2019
£
1,349,197
47,512
1,396,709
1,051,676
2,448,385
5,719
15,323
23,061
2,347
250
15,000
15,665
500
20
2,010
2,000
81,895
2,530,280		 Income
£
-
-
-
586,319
586,319
-
-
-
-
-
-
-
-
-
-
-
-
586,319		 Expenditure
£
(1,326,958)
-
(1,326,958)
(155,207)
(1,482,165)
-
-
(581)
-
-
(15,000)
(1,289)
-
-
-
-
(16,870)
(1,499,035)		 Transfers
in/out
£
1,493,761
(47,512)
1,446,249
(1,446,249)
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31
December
2019
£
1,516,000
-
1,516,000
36,539
1,552,539
5,719
15,323
22,480
2,347
250
-
14,376
500
20
2,010
2,000
65,025
1,617,564

Page 30

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

19. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2020
£
-
65,397
-
65,397		 Restricted
funds -
class ii
2020
Unrestricted
funds
2020
£
£
-
7,487
-
2,223,445
-
(10,993)
-
2,219,939		 Total
funds
2020
£
7,487
2,288,842
(10,993)
2,285,336

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2019
£
-
65,025
-
65,025		 Unrestricted
funds
2019
£
53,681
1,541,712
(42,855)
1,552,538		 Total
funds
2019
£
53,681
1,606,737
(42,855)
1,617,563

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the period (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Interest from investments
Decrease/(increase) in stocks
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Impairment
Net cash provided by/(used in) operating activities		 Group
2020
£
667,772
13,355
(5,503)
1,341
(52,822)
(31,861)
32,839
625,121		 Group
2019
£
(912,716)
13,499
(10,502)
(358)
88,380
26,407
-
(795,290)

Page 31

TORBAY HOSPITAL LEAGUE OF FRIENDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

21. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 Group
2020
£
2,206,475
2,206,475		 Group
2019
£
1,575,851
1,575,851

22. Analysis of changes in net debt

Cash at bank and in hand At 1
January
2020
£
1,575,851
1,575,851		 Cash flows
£
630,624
630,624		 At 31
December
2020
£
2,206,475
2,206,475

23. Contingent asset

The Charity has also been notified of a residuary legacy where a reliable valuation of the estate cannot be calculated, and therefore the legacy due to the Charity cannot be made. As the outcome is currently uncertain for this legacy they have not been recognised within the financial statements.

Page 32