Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
**Charity number: 200905**
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2025**
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 6|
|**Trustees' Responsibilities Statement**|7|
|**Independent Auditors' Report on the Financial Statements**|8 - 11|
|**Statement of Financial Activities**|12|
|**Balance Sheet**|13|
|**Statement of Cash Flows**|14|
|**Notes to the Financial Statements**|15 - 30|
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Trustees**|Mrs J Berry|
|---|---|
||Mrs J M Hearne, Vice President|
||Mrs L Hookings, Vice President|
||Mr M A Hookings|
||Mrs B Lawton|
||Mrs L McCaig (resigned 6 April 2025)|
||Mrs C M Piper, Vice President|
||Miss P A Roberts, President|
||Mr D Rogers, Vice President|
||Mr R Tuttle, Vice President and Vice Chair|
||Mr P F V White, Vice President/Honorary Secretary|
||Mr M H Tucker, Chair|
||Mrs K N Farnum|
||Miss T Seldon (appointed 10 April 2025)|
|**Charity registered**
**number**
200905
**Principal office**
Highlyn
6 Haldon Close
Torquay
Devon
TQ1 2NA
**Independent auditors**
Bishop Fleming Audit Limited
Chartered Accountants
Statutory Auditors
Brook House
Winslade Park
Manor Drive
Clyst St Mary
Exeter
EX5 1GD
**Solicitors**
Wollens
Carlton House
30 The Terrace
Torquay
Devon
TQ1 1BS||
Page 1
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2025**
The Trustees present their report along with the financial statements of Torbay Hospital League of Friends for the year ended 31 December 2025. The Trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity’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 2019).
## **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 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 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 consulting 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 Tabletop sales, 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 for achieving 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, which has enabled it to continue making available monies to the Hospital for a variety of purposes as 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**
Our office on Level 4 is now well established as a base within the Hospital from which we can make our presence felt and advertise future events. Additionally, we are holding regular Tabletop sales on a weekly basis on Level 4 to sell branded items such as Pens, Mugs, Diaries, Christmas Cards, Note Pads etc. We hope also to sell second hand books donated to us along with jigsaw puzzles and knitted garments for babies. We would welcome applications from supporters of the League to help the Trustees man these regular sales events.
## **e. Activities undertaken to further the charity’s purposes for the public benefit.**
In deciding both the current and future policy and activities, the charity has referred to the Charity Commission’s general guidance on public benefit. In particular the trustees consider how the planned policies and activities will contribute to the aims and objectives they have set. The nature of the activities undertaken during the year is set out elsewhere in this report.
Page 2
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
## **ACHIEVEMENTS AND PERFORMANCE**
## **a. Key Financial Performance Indicators**
The year has been successful, in terms of income generated and payments made to the Hospital. The League has continued to concentrate on established annual events such as holding a successful stall on Babbacombe Downs in August, as well as repeating our annual Bed Push along the Sea Front in Torquay. Wendy and Alan Salter again kindly hosted a charity Tea Party for us in September and in December we were again pleased to be invited to have a stall at the Wellswood Christmas Party Street Fayre. These Activities, and others such as sale of Christmas Cards, Draws, Bed Push, Collection buckets, Coffee mornings and other social events are designed to promote the League and its aims to the public in order to secure funds to be passed back to the Hospital.
Total sums paid to the Hospital this year are £677,267 (2024 £361,835). The League has agreed a new protocol with the Hospital to ensure that grants made to the Hospital are for equipment that the Hospital are not able to finance from alternative sources but which they consider to be necessary and which they will be able to maintain throughout its expected life.
In broad terms departments within the hospital are advised that the League is keen to support bids for services based at Torbay Hospital for
- equipment that supports patient care
- equipment that supports staff education, training, and development.
- Initiatives that support the health and wellbeing of people who use the hospitals services.
The process starts with an Expression of Interest form being submitted which is reviewed by a multidisciplinary team including medical, nursing, and operational leaders who will look at how it fits with the wider strategy and any estates or infrastructure plans and assess it against their scoring matrix. A successful bid is then forwarded to the League for consideration.
## **b. Review of Activities**
The League has conducted a number of activities throughout the year, which are designed to promote the League and its objects to the public to secure funds for the Hospital. The activities undertaken to raise funds in 2025 include sale of Christmas Cards, Bed Push, Collection buckets, and other community events. 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.
These activities all help to foster a team spirit between League members. As important as making a profit for the League, is the fact that each event publicises the work of the League and increases awareness of what the League does for the Community.
## **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 near future. For this reason, they continue to adopt the
Page 3
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
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. The total value of reserves at the end of the year was £2,127,131 (2024: £2,283,052) of which free reserves amount to £653,549 (2024: £919,933)
## **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 £546,876 (2024 £390,304).
## **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 £22,000,000.
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. Method of Appointment of for 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. 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.
## **d. Organisational Structure and decision making**
The Management Committee meets 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
Page 4
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
organised by the League. The League’s finances are dealt with by the Treasurer 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.
## **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:
- Formal agendas for all Committee meetings.
- Established organisational structures with well-defined lines of reporting.
- Monthly reports relating to finances including income and expenditure.
- Declaration of Conflicts of Interest by Trustees.
The Trustees consider that the risks identified have been mitigated as far as possible.
## **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. The League assists and monitors 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.
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 two-monthly basis to members of the League 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:
- will maintain the strong links already forged with the Hospital management,
- will remain responsive to requests for funding from the Hospital,
- will encourage fund raising activities by members of the League.
- will do what it can to publicise the work of the League so as to promote the interests of the League to members of the public minded to make donations.
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Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Disclosure of Information to auditors**
Each of the persons who are Trustees at the time when this Trustee’s Report is approved has confirmed that:
- as far as that Trustee is aware, there is no relevant audit information of which the charity’s auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
The Trustees’ Report, was approved by order of the Board of Trustees, and signed on its behalf by:
**Mr M H Tucker** Chair of Trustees
Date: 3/5/2026
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Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2025**
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 which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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 adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the 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 members of the board of Trustees and signed on its behalf by:
**Mr M H Tucker** Chair of Trustees 3/5/2026 Date:
Page 7
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **OPINION**
We have audited the financial statements of Torbay Hospital League of Friends for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the 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).
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 December 2025 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 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 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 other information comprises the information included in the Trustees' Report and Financial Statements other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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.
Page 8
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TORBAY HOSPITAL LEAGUE OF FRIENDS (CONTINUED)**
## **MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION**
We have nothing to report in respect of the following matters in relation to which Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Trustees' Report 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.
## **RESPONSIBILITIES OF TRUSTEES**
As explained more fully in the Statement of Trustees' Responsibilities set out on page 7, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they 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.
Page 9
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **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 145 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 considering the following:
- the nature of the sector, control environment and the Charity's performance;
- results of our enquiries of management and the Trustees, about their own identification and assessment of the risks of irregularities;
- any matters we identified having obtained and reviewed the Charity's documentation of their policies and procedures relating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
- 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 operates 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 for the Charity, as necessary, 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;
- enquiring of Trustees and management concerning actual and potential litigation and claims;
- performing procedures to confirm material compliance with the requirements of the above regulations;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks
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Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TORBAY HOSPITAL LEAGUE OF FRIENDS (CONTINUED)**
of material misstatement due to fraud,
- reading minutes of Trustee meetings; and
- in addressing the risk of fraud through management override of controls, testing the appropriateness of 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 Audit Limited** Chartered Accountants Statutory Auditors Brook House Winslade Park Manor Drive Clyst St Mary Exeter EX5 1GD 28/5/2026 Date:
Bishop Fleming Audit Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Note**
**Income from:**
Donations and legacies
3
Other trading activities
4
Investments
5
**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**
**2025**
**£**
**-**
**-**
**-**
**-**
**-**
**6,488**
**6,488**
**(6,488)**
**31,557**
**(6,488)**
**25,069**|**Unrestricted**
**funds**
**2025**
**£**
**451,457**
**16,423**
**78,996**
**546,876**
**-**
**696,309**
**696,309**
**(149,433)**
**2,251,495**
**(149,433)**
**2,102,062**|**Total**
**funds**
**2025**
**£**
**451,457**
**16,423**
**78,996**
**546,876**
**-**
**702,797**
**702,797**
**(155,921)**
**2,283,052**
**(155,921)**
**2,127,131**|Total
funds
2024
£
284,484
15,071
90,749
390,304|
|---|---|---|---|---|
|||||819
388,520
389,339|
|||||965|
|||||2,282,087
965
2,283,052|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 15 to 30 form part of these financial statements.
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Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **BALANCE SHEET AS AT 31 DECEMBER 2025**
|**Note**
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
11
Investments
12
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
13
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
14
Unrestricted funds
Designated funds
14
General funds
14
Total unrestricted funds
14
**Total funds**|**1,178**
**1,549,581**
**584,871**
**2,135,630**
**(9,675)**
**1,448,513**
**653,549**|**2025**
**£**
**1,176**
**1,176**
**2,125,955**
**2,127,131**
**2,127,131**
**25,069**
**2,102,062**
**2,127,131**|23,938
85,000
2,181,633
2,290,571
(9,215)
1,331,562
919,933|2024
£
1,696|
|---|---|---|---|---|
|||||1,696
2,281,356|
|||||2,283,052|
|||||2,283,052|
|||||31,557
2,251,495|
|||||2,283,052|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**Mr M H Tucker** Chair of Trustees
## Date: 3/5/2026
The notes on pages 15 to 30 form part of these financial statements.
Page 13
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
**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 30 form part of these financial statements|**2025**
**£**
**(211,177)**
**-**
**78,996**
**78,996**
**-**
**(132,181)**
**2,266,633**
**2,134,452**|2024
£
(86,320)
(688)
90,749
**90,061**
**-**
**3,741**
2,262,892
2,266,633|
|---|---|---|
Page 14
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **1. ACCOUNTING POLICIES**
## **1.1 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 2019), 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) second edition published in October 2019 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.
## **1.2 GOING CONCERN**
The Charity has sufficient cash to meet all known outgoings. Because of the nature of the Charity, cash outflows can be reduced to a minimum to ensure the viability of both itself and the pod. 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 2025 to be prepared on a going concern basis.
## **1.3 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.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 15
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **1. ACCOUNTING POLICIES (continued)**
## **1.4 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.
Expenditure on raising funds includes all expenditure incurred by the charity 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 charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **1.5 INTEREST RECEIVABLE**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **1.6 TAXATION**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **1.7 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 basis:
- Fixtures, fittings and equipment 20% straight line
## **1.8 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.
Page 16
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **1. ACCOUNTING POLICIES (continued)**
## **1.9 CASH AT BANK AND IN HAND**
Cash at bank and in hand includes cash and short-term highly liquid bank deposit investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.10 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.
## **1.11 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.
## **1.12 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 charity 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 charity 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 17
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. 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 have been discussed below:
Critical areas of judgment:
Income from legacies needs to be recognised in line with FRS102. Legacy income is unpredictable and the timescale from notification to receipt can be extensive depending upon the complexity of the estate and there can be uncertainty over the exact amount the charity will receive. Legacies are assessed on an individual basis in order to consider whether there is entitlement - control over the rights or other access to the economic benefit has passed to the charity; Probable - it is more likely than not that the economic benefits associated with the legacy will flow to the charity; and measurement - the monetary value or amount of the income can be measured reliably.
Page 18
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **3. INCOME FROM DONATIONS, GRANTS AND LEGACIES**
|Donations and grants
Legacies
Gift aid
TOTAL 2024|**Unrestricted**
**funds**
**2025**
**£**
117,406
331,409
2,642
451,457
284,484|**Total**
**funds**
**2025**
**£**
**117,406**
**331,409**
**2,642**
**451,457**
284,484|Total
funds
2024
£
40,888
238,141
5,455
284,484|
|---|---|---|---|
|||||
## **4. INCOME FROM OTHER TRADING ACTIVITIES**
**Income from fundraising events and other trading activities**
|Events committee
Torquay Girls Grammar School
Raffles and fayres
Retail sales
Bed push
Pennies for plastic
TOTAL 2024|**Unrestricted**
**funds**
**2025**
**£**
1,347
556
733
12,566
1,221
-
16,423
15,071|**Total**
**funds**
**2025**
**£**
**1,347**
**556**
**733**
**12,566**
**1,221**
**-**
**16,423**
15,071|Total
funds
2024
£
569
852
741
11,845
1,028
36
15,071|
|---|---|---|---|
|||||
Page 19
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **5. INVESTMENT INCOME**
|**Unrestricted**
**funds**
**2025**
**£**
Investment income
78,996
TOTAL 2024
90,749|**Total**
**funds**
**2025**
**£**
**78,996**
90,749|Total
funds
2024
£
90,749|
|---|---|---|
||||
## **6. ANALYSIS OF EXPENDITURE BY ACTIVITIES**
|Gifts to hospital
Other charitable activities
TOTAL 2024|**Direct costs**
**2025**
**£**
677,267
-
677,267
361,835|**Support**
**costs**
**2025**
**£**
-
25,530
25,530
26,685|**Total**
**funds**
**2025**
**£**
**677,267**
**25,530**
**702,797**
388,520|Total
funds
2024
£
361,835
26,685
388,520|
|---|---|---|---|---|
||||||
Page 20
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **6. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF SUPPORT COSTS**
|Stationery and printing
Office costs
Depreciation
Sundry expenses
Legal and professional fees
Honoraria
Insurance
Advertising and promotion
TOTAL 2024|**2025**
**£**
3,108
377
520
319
14,454
5,000
1,360
392
25,530
26,685|**Total**
**funds**
**2025**
**£**
**3,108**
**377**
**520**
**319**
**14,454**
**5,000**
**1,360**
**392**
**25,530**
26,685|Total
funds
2024
£
2,490
472
520
3,143
12,871
5,000
1,591
598
26,685|
|---|---|---|---|
|||||
Page 21
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **7. GIFTS TO HOSPITAL**
|Chairs
Virtual reality headsets
Automated resus CPR equipment
Refurbishment of mortuary
Mindray BeneVision monitors
VR therapy pain device
Clothing bank
Verathon 10 bladder
Lockers and chairs
Patient trollies
Patient beds
Image guidance
Bed boards
Rehabilitation equipment
Diagnostic scanner
Up to date medical resource
Other smaller grants
TOTAL 2024|**Restricted**
**funds**
**2025**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
5,273
5,273
2,499|**Unrestricted**
**funds**
**2025**
**£**
12,702
13,446
-
-
-
-
2,050
-
-
-
-
-
-
20,536
421,695
164,647
30,923
665,999
359,336|**Total**
**funds**
**2025**
**£**
**12,702**
**13,446**
**-**
**-**
**-**
**-**
**2,050**
**-**
**-**
**-**
**-**
**-**
**-**
**20,536**
**421,695**
**164,647**
**36,196**
**671,272**
361,835|Total
funds
2024
£
13,759
6,204
10,968
7,011
17,736
8,629
5,892
7,114
23,229
129,512
15,379
81,477
12,400
-
-
-
22,525
361,835|
|---|---|---|---|---|
||||||
**8. AUDITORS' REMUNERATION**
||**2025**|2024|
|---|---|---|
||**£**|£|
|Fees payable to the charity's auditor for the audit of the charity's annual|||
|accounts|**9,675**|9,215|
|Fees payable to the charity's auditor in respect of:|||
|All non-audit services not included above|**4,779**|3,656|
Page 22
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **9. RELATED PARTY TRANSACTIONS AND TRUSTEES' REMUNERATION AND EXPENSES**
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 December 2025, expenses totalling £497 were reimbursed or paid directly to 4 Trustees (2024: £1,252 to 5 Trustees). £314 of income (2024: £Nil) was received from Trustees as part of retail sales, donations and subscriptions. In addition, assets were purchase for use by the Trustees in their roles totalling £Nil (2024: £519).
During the year the Charity's Secretary and Treasurer both received an Honorarium to represent a gesture of goodwill and appreciation for services rendered to the Charity of £2,500 each (2024: £5,000 to Secretary). Authority was given from the Charity Commission for the payments.
The charity considers its key management personnel comprise the Trustees of the charity. The total employment benefits of the key management personnel were £Nil (2024: £Nil).
Page 23
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **10. TANGIBLE FIXED ASSETS**
|**COST OR VALUATION**
At 1 January 2025
At 31 December 2025
**DEPRECIATION**
At 1 January 2025
Charge for the year
At 31 December 2025
**NET BOOK VALUE**
At 31 December 2025
At 31 December 2024|**Fixtures,**
**fittings and**
**equipment**
**£**
**10,708**|
|---|---|
||**10,708**|
||**9,012**
**520**|
||**9,532**|
|||
||**1,176**|
||1,696|
Page 24
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **11. DEBTORS**
|**DUE WITHIN ONE YEAR**
Prepayments
Legacies receivable
**12.**
**CURRENT ASSET INVESTMENTS**
Unlisted investments (liquid)
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accruals and deferred income|**2025**
**£**
**535**
**643**
**1,178**
**2025**
**£**
**1,549,581**
**2025**
**£**
**9,675**|2024
£
613
23,325|
|---|---|---|
|||23,938|
|||2024
£
85,000|
|||2024
£
9,215|
Page 25
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **14. 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
Diabetic and Asthmatic
patients
Neurology department
Endoscopy
The Eye Clinic
**TOTAL OF FUNDS**|**Balance at 1**
**January**
**2025**
**£**
**1,331,562**
**919,933**
**2,251,495**
**5,719**
**20,481**
**2,347**
**2,010**
**1,000**
**31,557**
**2,283,052**|**Income**
**£**
**-**
**546,876**
**546,876**
**-**
**-**
**-**
**-**
**-**
**-**
**546,876**|**Expenditure**
**£**
**(660,824)**
**(35,485)**
**(696,309)**
**-**
**(6,488)**
**-**
**-**
**-**
**(6,488)**
**(702,797)**|**Transfers**
**in/out**
**£**
**777,775**
**(777,775)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Balance at**
**31**
**December**
**2025**
**£**
**1,448,513**|
|---|---|---|---|---|---|
||||||**653,549**|
||||||**2,102,062**|
||||||**5,719**
**13,993**
**2,347**
**2,010**
**1,000**
**25,069**|
||||||**2,127,131**|
Page 26
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **14. STATEMENT OF FUNDS (CONTINUED)**
The equipment commitments designated fund represents unrestricted funds that have been designated to cover grants that have been awarded for hospital expenditure but which remain cancellable at the discretion of the Trustees.
The Cardiac unit restricted fund represents specific bequests which have to be used towards equipment and comfort of the patients of the cardiac department 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.
EAU3 fund represents specific donations and bequests to be used towards the Emergency Assessment Unit.
The Endoscopy fund represents specific donations and bequests to be used toward such treatments.
The Eye Clinic restricted fund represents specific bequests which have to be used towards equipment for the Eye Clinic at the Hospital.
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. Funds are released if the charity receives notification that monies are no longer required for the planned purpose.
Page 27
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **14. STATEMENT OF FUNDS (CONTINUED)**
## **STATEMENT OF FUNDS - PRIOR YEAR**
|**UNRESTRICTED FUNDS**
**DESIGNATED FUNDS**
Equipment commitments
**GENERAL FUNDS**
General Funds
**TOTAL UNRESTRICTED**
**FUNDS**
**RESTRICTED FUNDS**
Cardiac unit
Diabetic and Asthmatic
patients
Neurology department
EAU 3
Endoscopy
The Eye Clinic
**TOTAL OF FUNDS**|Balance at
1 January
2024
£
1,429,230
818,801
2,248,031
5,719
22,480
2,347
500
2,010
1,000
34,056
2,282,087|Income
£
-
390,304
390,304
-
-
-
-
-
-
-
390,304|Expenditure
£
(359,336)
(27,504)
(386,840)
-
(1,999)
-
(500)
-
-
(2,499)
(389,339)|Transfers
in/out
£
261,668
(261,668)
-
-
-
-
-
-
-
-
-|Balance at
31
December
2024
£
1,331,562|
|---|---|---|---|---|---|
||||||919,933|
||||||2,251,495|
||||||5,719
20,481
2,347
-
2,010
1,000
31,557|
||||||2,283,052|
Page 28
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **15. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
## **ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR**
||**Restricted**|**Restricted**|**Unrestricted**
**Total**|**Unrestricted**
**Total**|
|---|---|---|---|---|
||**funds**|||**funds**
**funds**|
||**2025**|||**2025**
**2025**|
||**£**|||**£**
**£**|
|Tangible fixed assets|-|||1,176
**1,176**|
|Current assets|25,069|||2,110,561
**2,135,630**|
|Creditors due within one year|-|||(9,675)
**(9,675)**|
|**TOTAL**|25,069|||2,102,062
**2,127,131**|
||||||
|**ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR**|||||
||Restricted|||Unrestricted
Total|
||funds|||funds
funds|
||2024|||2024
2024|
||£|||£
£|
|Tangible fixed assets|-|||1,696
1,696|
|Current assets|31,557|||2,259,014
2,290,571|
|Creditors due within one year|-|||(9,215)
(9,215)|
|**TOTAL**|31,557|||2,251,495
2,283,052|
||||||
## **RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING 16. ACTIVITIES**
|Net income/expenditure for the year (as per Statement of Financial
Activities)
**ADJUSTMENTS FOR:**
Depreciation charges
Dividends, interests and rents from investments
Decrease in debtors
Increase/(decrease) in creditors
**NET CASH USED IN OPERATING ACTIVITIES**|**2025**
**£**
**(155,921)**
**520**
**(78,996)**
**22,760**
**460**
**(211,177)**|2024
£
965
520
(90,749)
4,114
(1,170)
(86,320)|
|---|---|---|
Page 29
Docusign Envelope ID: 4146B261-9EB9-8911-81A3-2DF4338629C1
## **TORBAY HOSPITAL LEAGUE OF FRIENDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **17. ANALYSIS OF CASH AND CASH EQUIVALENTS**
|Cash in hand
Notice deposits and liquid investments
**TOTAL CASH AND CASH EQUIVALENTS**|**2025**
**£**
**584,871**
**1,549,581**
**2,134,452**|2024
£
2,181,633
85,000|
|---|---|---|
|||2,266,633|
## **18. ANALYSIS OF CHANGES IN NET CASH AND CASH EQUIVALENTS**
|Cash at bank and in hand
Liquid investments|**At 1**
**January**
**2025**
**£**
**2,181,633**
**85,000**
**2,266,633**|**Cash flows**
**£**
**(1,596,762)**
**1,464,581**
**(132,181)**|**At 31**
**December**
**2025**
**£**
**584,871**
**1,549,581**
**2,134,452**|
|---|---|---|---|
## **19. CONTINGENT ASSET**
The Charity has been notified of residuary legacies where a reliable valuation of the estate cannot be calculated, and therefore the legacies due to the Charity cannot be made. As the outcome is currently uncertain for the legacies they have not been recognised within the financial statements.
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