ZQE312 THE 1930 FUND FOR DISTRICT NURSES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022
THE 1930 FUND FOR DISTRICT N TATEME P4e Referen* & Admini$iobv• Infomiaiion Chairfs Statement Ttuslees. Annual Rerort Ind&pendent Exarninerfs Rerx¥t Statsmentof Financial ActilÈ•S BaPdnGe Shegt N¢i8$tothe Finfinci81 Stalemenl$ io
ThE 1930 FUND FOR DISTRICT MURSES REFERENCE AND AOMINISTRATIVE INFORMATION Tru8t••8- Ch•lr'. Chairman.. nd$&y H8ye8 RGN, RHV, PGCEIFEI. Msc Ichairlrom 1st July 20221 Kieron Lynth FCSI Ire¥igned trorn Chr 30th June 2022. resiwed as Tru51ee 7th Odober 20221 Troosuror.. Ad8m Fairhead Jean Bai RGN, RM. RHV, Msc PeterWGoodwn JL¥ly Joseph ONC.RGN.RHV,WHonsl.MA Jaan Rowe RGN, RHV, PGCEA, Msclsoc Ro51. FQNI Hekn Willett$ RN, SPQON. MA Sarah Hayes lappointgj 20th Septernbw2022} Eleine Cl8ncy18ppointed 20th Serlember 20221 AdmlnI6trot'. The Trust P8rtnÈrship 6 Twll Fam Buildin98 Teibury GUstershI GL8 8SQ Indokntltni Examlnor Butt8¢0tt LLP Chartered ArutantS 130 w( Street Londcn EC2V 6DL Banker¥'. Naiionsl WtrInSter Bank p 186 Brompton Road L(d0 SW13 1XJ Invostrn•nt Monagors.. Bl8ckRDck lftvesimènt ma9&MOnt p 12 Throgmorton Avenuo London EC2N 2DL Rutsr LLP 80 Victona Street London SW1E 5JL
THE 1930 FUND FOR DISTRICT NURSES CHAIR'S STATEMENT FOR THE YEAR ENDED 30 JUNE 2022 l am delighted lo be vfflling this port 81 end of another Successfk year fDi Thè 1930 Fund for D15trict Nurses. Th is my fir51 feporf as Chairand I bDk forward to continu9 10 effectivdy and prodUy1th all trule&6 as I tak& on th8 Chair iole. This Ly51 year has continua to oistr ¢h8llenyg5 for all those connected and orking in the llh and soEkql ¢8re 8tctor The mosl notable Issues faung communily nui$e$ Dver Ihis year have been thè slow and $tady In¢wse in $1 of liviry ewense5 as the rale of Infiauon has risen io its htghe51 level Sin the 1980's. In tht ¢utrenl clirnate of ring inflation. energy C051s. fvel In¢aSe$ Iht general 5qugozg on hving ¥nd a•$11¢ costs it 1$ &von more important that The 1930 FuThY for DIstr1 Nurses continues to remwn fttuged on 8chbvlng agreed stratÈg1¢ obj8¢bv6$ 11 is notable that the hnpkmwtabon of the strategy over the Lqsl year appeèts ID have had a very KA)Srtive impact on both ihe number of applicants 10 Ihe fvnd a$ voll as visils lo the bsite Tho 8pplioiiolls corning In to the Fund Vfd ihe ¥sEb511e is now the mosl likely route and all applicaliofjs have doutrlgd OvÈf the lasl year. Solh the Annual Bonefity¥ry Revjew the evidence provided ty thè nuw $tr88ngrs Indicate thai the age of appii¢ani$ conbnuÈS io dèc#$ and that lgvels ol hardship are now irnpacling oft th6 youngercommunily nursing generabons rather than the old&T reiired nurses. Dumg thi$ yoar 2021-32 over 5LWA of •ppli¢ant8 yre apBd betten 3fv39 bpared lo less Ihan 10% th8 prevous year. With Ihis In mind Il noted thal there w8$ ¥ n¥e in applrcalions lor ¥s¥istance ilh childcare Gosls a5 1%11 as general living expee¥ as a result of divor. sep8raii¢n or leaving Abusive r48lion$hips As in pre5 years the rnaionly ol applicants are female nurses 11 i4 anbthpai¢d thai the irnpacl of the increase in cost Dr living 9onw¥lly as V11 as car mainten8n¢o Iravd expenses f•alur more profflin&nUy In atIonS in th8 fuluro. Financing increasing applications 0r thè p8SI yèar has romained a priorily for tho Fund The Increase in 8ppli¢aiions lo the spKia o¥rcumstances uoatèd by tho Covid pandem and now 8$ IIVing ¢o&ts ri¥e, the doOn la$1 yoar 10 raise gxtra I5 trom a sale of Inveslmenl$ h8$ enabled us lo contsnue lo meei the need5 Df our applicant$ The Fund's Invtrnenl income has SI0Y re¢ed as diwdends wre gradually resio IlOng the sharp cuts Ihe p$ndpm¢ HDEver other VKJrfd and d¢me$ti¢ events are likely lo he negalive onyoiw ifflpaGI on the Funds Investments and ¢108e monilorillg ol the financial mats1$ V4711 rtrmain a ¢entr81 locus for b)Ih thtfinance coYnmiNee a re9ul£ragend8 ft$m ai quarterfy tW5tee m£•tingS We are pased io rew1 Ih81 * havt been ¥bfe lo support mcre swlicanis ovgr this year and that a lotAI of £79,764 ¥VdS awdrded in grBnls, thlch waa an incwstr of 25% over the prevlcvs year. 11 r6 also notad that tn8jorily of IhBse avrard5 are on& off paymènts $pe¢l or servus those expongncing fincial haraship I VKJuld Iikg kn 8end my thk$ to all those have helpgd us lo support community nurse5 over this last year. Our cdleagues al the Tru$t P8rtner¥hip coDtifiue lo rnallage our admin$ir8lion effecliveFy. We are partr 90lelul lo Mia Duridge for her 5en%live management ofwr Telephone Befrian9 sCe th offèts ta¢] and $upwrt l¥ Ihp 18DL8tsd and lonely Wt artr alsD very gratefiJl lo ihose have m8d• donwions 10 Support our vhith. As our th continues to grow and * ond•avour lo reach out SLVPOrt more ccmmunity nw¥es are In hgidship. every don8lK)n L8 a vrtal contribution to us continuino 10 8¢hiev6 our ongoiw m150n. Finally. l MOld k 10 thank ali my trustee colleagues for their Wn1[nO hard vKtk. engagement generosty of time. wlhoul %¥hom Ihe Fund wuld not conbDue lo exist. I Wld e$ellY like to e8j thanks lo Kieron Lynch Our forrner Chaian In recogniiion of ¢omrnrftneDt and over many yeats V•ilh Ihe Fund. l swuld also like lo our two new ISIee5 SBrah Haye$ and Eiqint Clancy and look for¥rd to 1th iw)th eyi51ing and newltusiees overthi5 coming year L1j5eY Hayes ChdrThe 1830 Fund for Nws Septsmt*r2022
ThE 1930 FUMD FOR DISTRICT 14URSES TRUSTEES, ANNUAL REPORT FOR THE YEAA ENDED 30 JUTr 2022 Pa ThA tru$w8$ •ro ploa8•d to pr•8ontthl8 918tAnnual Rtsport togethFrwlth the Ilnanct•l tstatofftorts of thB charfty for th• yoar•nd•d 30th Jun• 2022. The fin8n¢pal $tslemeni$ have ¥een p¢p8red In a¢¢ord$ncevMlh the aGcouTrting lIeS sei out on pages 10 to 12 of Ihe attached accoThts and comply 1th Ihe ch8rrfy's Irutsi deed, the CharilK8¥ Acl 2011. regulation5 applicable Act. and knting and Reporting by Chanlies. Statemeni of RMMenda P(aciice applKable lo chafi15 prepariry their accounts in aC[danCe ¥%iih Ihe FIllancl Reporting Standard applicsblt in Ihe UK and Republic of Ireland IFRS 102). STrUCTURE, GOVERNANCE AND MANAGEMENT Constkutlon The chgrity 1$ wubted by 8 Tru$1 Deed dated 1h OGlobpr 1930 as arnended on 3rd July 1974 and an wderd818d 23rd February 25 as amended by Speu81 Resolution daioa 21$1 Jun8 2005. Tnt$tee$ The chanly has &9hl trtsslees, meei quarterty. Th6r6 are Cnmittee& of Ihe Iruslee bDard, namoly a nurse5 committee and a finan commitLee. T11 m@mr5 of the nur¥e6 cgrnmee the 45se55manl and aibration of grants and the finan covnrnige 15 responsible for maintaining an ov6rvi&w of the Fund's finanaes. The idtrntifi¢¥b¢n of potsnik%i n8w Iru6tees is carried oui by Ihe board. Ihe aim bsir4 to applynl Ihose Yth the appropn8ie and exp8nw¢tf¢r th8 thariV8 vKrk. On agreeing lo beGLvne a Iruslee of the chanly. they are thoroughly bnefed by their cTrlru51ees Ihe history of the Trv$i, the day-1048y managEmenl. the responsibilibes of the Iruslees. ihe current obje1VS and fulu<t pbn$ The lrnstses are also enCOu9ed attend any cr$8¥ they feel are Falevanl to the devdopm£rn oflh8ir ro. and lo keep U1ate on any ChSe5 in legislglh)n. St•¢•mont ol tru8t••8' r•8ponlbiliti88 The Iru$tee$ a SPonSible fw propn¥ the tsuslees, rewt and acGoun15 In e¢cord8n¢e applicable18w and United lQngd¢)m Accountirvj SIdarA (United KinOM GWw•lACGepled ActIng Practice) The appliLxe lo charilies in England And Wsles f8quif8s Ihe Iru$i•gs lo prepare aGCOUllts for each finaal year thi¢h owo a true and fair wew of the State of affairs of the ch8nty and of Ihe irtom• elPeilUre of the charity for porod. In prepariny Itt888 a¢wurts. the trustees we reqr& lo.. 8eloci ac¢ounbnu polic5 Ih8n apply Ihem con5151eMIy'. ob5er¥e the method5 and prindplÈs In Accounting and Reporbn9 by char85.. siatemenl of FIornmended Practi appl9 io ehariires pr8paring If*ir ¥CUts In accordanc& th th8 Finarfial Reportlw standard aPpCable in the UK and Republi¢ of Ird8nd IFRS 1021". make juementS and eslimales that are w8on$bb and PTudert, ststewtsther applicable United n¢M ACC11 Standards have been follo. $ubl8a to any rnalerial departures disc105ed and expLained in tho acnig, an prepare the aLrounts on the goin9conrn basL% unléss Il 1$ In•pprw8t8 10 mutne that arity will ntInu in opèrabon. The Iwsiee$ are SpOnsI8 for keepiw propèr acCDUnlg records thal disOse re880n¥ble ¥¢¢ura¢y al lime the ftn8ncwl positn of the Chaniy and enablB Ih8m to eD¥ure Ihal the arEnIS comply ¥th Ihe Chaniies Act 2011 applicable Charity (Accounis and Rewrtsl Regulations and the wovi¥jons of the charity's trust deed. They are also reSpDnsIb fof safeguarding the assets of the chanty and hence re4sonabie 51ep6 for the preventio and IJotscii¢n offraud ar other irregulatibes.
ThE 1930 FUND FOR DISTRICT NUFISES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2022 {continuedl STRUCTURE, GOVERNANCE AND MANAGEMENT Icontlnuod) Structure and management roPOrtiTru The Iruslees are ullimalety respOnSe for th8 kKIiGies, acbvitie¥ and as¥el¥ ol the chaiity. They meet four tiffles a year 10 feview IVelOPmlS wlh regard 10 Iht ¢haiity. ds grani giwng and to make 3Dy important e¢1$1$ Th6y rèvl6w the Invesbhènt cnteria and the asset alkncation. Whèn nÉc$ssary, the Iru$ie6s wk adv and $upport frorn the charitys profeswonal ad¥15ers Including In¥e51menl m8nagers, so1Or$ and accountsnts The Trust Partnship Is responsi8 for the day-ttrday mafiagefflenl of the chdtivs acbvities pmplementalion of policies YAlh re5pon¥ibility for lIating grant ro4ue$i$ and p8yments 8nd m¥int81ning Iht accouDbng Rcords. BLqckRock Inveslrnenl klanagemenl PIC and Ruffer LLP manage the Chariiy's in¥e5thents Al their meetings, the trustees wll review the wf(KTnanGe of the iTrveslmeDts", regulaf repDrfs from the Inve51menl managers wll ale the trustsgs On the (J)N$nt and perfonmancé of tr•r rx)rtldk)8 Key managefflent rsonnel The Iwslees con5KJgr ihat thay ¢wpris• lh& key mana9em8ni of the ¢hanty in Gharge of direLn9 and CLYrtlIn9. nning and optPlin9 tho chamy on a day to day b15 Thè trustèè$ r8cwvo no r6mun¥¥tion. Rl8k manag•m•mt In line vAlh iho ro4ulremeni for tru$tee$ to LThwiakè 8 rigk 8gwsment ox•rti8e and rtrrNX on lh& 88me kn Ih•r annual pOrt, the Iwsiees have looked ai the nsks and have um1t the Risk Register The trustees have Identified five main Breas there n5k may occurand consid2red howlhey might milvJate against them.. Goveman£e and rnanagemer risk look¥ al the the chatiiy might ¥uffer fTOrn a laGk ol dCtn. the skilPd and training of the Iruslees and th& good us¥ of its fvnds The ltyslees undertake strategy lo ensure the ¢hatii¥bltr obj01Ve$ ars mst Truglw sis offÈr8d takè up Irdining, 8nd admintstrabvp supW frorn The Trusi Partnership gn$ures propar manBgemènL ol the ch8nly Oyr•fjon•l rf¥k boks ai Ihe nsk Inherent in Ihe charity's actNilies induding $uppor¥ng un$uit8tye app1$ trom ¢h8ritie$, ¢onlinuily of staff. lack of a disaster recovery policy etc The Irdsl adminislraiors (The Trust Partnership) screen appeals making sure the awafds afe in accordance wlh the charity objectives pnor io Irusiee srxttning and cons1[all0n The Trust Partneip op&r¥tes 71 sufftyont siaff to sUPPOrt IFE chanly should Ihe primary ad[nlS][si¢r be un8vailabl& Flnanclal 119kg Include Ih05e arin9 as a resuYL of wx)r bLkWry contrd. inappropriak $perKJing. 00nI1n9. inappropn8te invesiment pdicies eic The charilys finances a vd by trustee$ 8t the Iruslee meeliw$ and 8 separate Iruslee oroup undertake a separate financial review annUaY to consider the chanly's Inveslrnents Oryoing granls are rewewed by admin151rator and. v some In5tanc25, payments are made dired 10 serv providtis 10 6rnsure the 1Thnded b8nefil 1$ r6ceived Tho annu818¢¢OyJnt$ 8ra independeniiy revId. R•pu¢atlonal rlsk6 k)ok At possib damage to Ihe drty5 reputatTr, through our Actions or 059ttKqtsons or 1th Inapwopnaie activ]. There are policie5 regarding Data Protection Confi1 of Interest as ell as apprcpnale con%deralion of the charity'5 aGbvities and as5oall05. The TsleeS revivw all of thr WIc5 annually al their June meeting and have dDne 80 this year actordingly. La. rqgulations. •xtrn•l and onvironmntal ri$k looks $1 Ihe eff¢th of governent PDlioes, the con8equertes of non<ompl1•n ISYJS and ¢glationS and the effed of extemal m8lters w the ¢h81iiy's priitypal asw, its invèstment Pth1folio The fund maintains efFective liaison wlh professional athisors. Buz2aCOtt LLP Ilndependenl Exarninerl. The Trust Partnership (Advisor), the Charity CoMrn155n and leVant Inve51menl Fund Managers Haviw asstrssed the m•ior rigks lo vthth Ihe charity 1$ exposed. il parti¢u18r th088 rekgtsng 10 inv•¥lmenis and 11$ fillaes. e Iruslees believe that by rnonitonng re5eNe ve1 by ensuring that controls e5t over key financial Systems. by examin9 the opefairoMI and buTreSS risks faced by the chanly. IW have e5tailished eftgGtive Systems to mthgai8 Ihogt rpsks.
THE 1930 FUND FOR DISTRICT NURSES YRUSTÉES, ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2022 l¢oniinu6dl OBJECTIVES, ACmVlnES AND RELEVANT POLICIES Ch&rlthblÈ 0¥8c¢i¥ To provmye assistance to those comrnunity nur$6s in r•t. hardship arKI di$ire$8. This Includ&6 dislTiCt nwses. comrnunily psychiic nLY5•S. community 108ming disability nut88& community Mi¥•$, h•8llh visitors. school nufses ano other registered nur¥es tt8ve undertaken $oets81i$l nurse edu¢aiio lo in the wmmunrty and anyone who ha8 formerty tked in any of those capwlE5 The disl$eme¥ are usually grants to suppkmenl income in ¢ase$ ofh$rd$hip The ¢h8rity also award5 grants for home rnain1enan0r The Iru51ee5 welcome personal contact wlh the benefiuarigs and hopa thai they consid6r their rèlairoDship %%ilh the Larily to be a long lettn one. The rharty Tuns a tdephone bethending sèrwce, keepiw ¢onta¢t s5ilh their on9ng ¥nnurtani$ 6very SLY months In a 80ty81 (p8¢ity. Publ1¢ Benefit In Selling the oarily's objeclives pnn5 ils Ktivibes. the Irug1èè$ have given ¢ar•ful LderlIn lo the Ctharily Commissiw's yarral guhyance on public nefit. A¢bi•vtm•nt# and ptrrformanc The charty continued 10 fu1 its lunclion in aGLX)rdanGewlh the abie¢tives Sei out abovt. The IsteeS believe Ihat the Charity¥ financlal objecteS have been adequaioly mat duing the year Ho¥er. n 8 $1gnificani part of its ass$ ar6 mado up Of inv6¥tmenis wthich are senglive io thè 98nÉral pÈrformAnc• of the UK and overse8s slttk rnarkets. thérÉ arÉ èxtsmal factots coukJ afteGt the athievemenls of thega obpclives. In order lo minimise these, Ihg tnjstoos have SÉt 1xudl inv6stmeni The Iruslees are 5ali&fi8d b%ilh the performan of the Investments and remain satisfied thai their Investm1 obieclive¥ are being rnet. Plon$ lor lure p¢rlod¥ The Itv$tee¥ h8ve ana V•71 tinue lo the activit3 and strLKture of the chanty lo ensvre Ih•t rt weres 48 effiuently effectivdy as FOll¢vrnI the 2021 rtrvw, the Iruslee5 Vre satisfied that the chariiy vS MtirVj its obJ"ectives. Ihdl funds ale used appropriatdy and there 1$ 8 revi¥w proces5 of the ongoing annuitant grants Th8 chatity continu85 to make Iruslee Irainiw aval8bl•and look¥ 10 Olhor (*aritK%$ th siThi18r oLyective&for b8Th¢hmang
THE 1930 FUND FOR DISTRICT NURSES TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 30 Ju 2022 l¢ontsnu6dl FINANCIAL REVIEW Inve51rnenl p0r5 and ¥e8ults the year the chath$ wrtfdlo rewrned a négalwo yigkt (income. plu$ COtal g•n$ or los$e$l of 2.6% loss 12021." p0511ive yeld of 14 5%) The chanly does not ttave a speufic benchmark bul aims lo maintain the real value of Ihe inveytmenl portfrAk? in ihe long lerrn. after takiDg aCCt of irKorne and captal disburs a5 chaiitable Fin•n¢l81 $ummary IrKomè for thè ysar £68,842 compared *ith £64.222 for 2021 PayrneThis to the chanty'5 benefKiaTt85 tolalled E79,78412021.' £64,410) of Ythich £11.260 12021". £11,73fj) Iefatsd to thlY or quarterfy gNn9 grants. The ¢o$i of the lelethone befrndIng seNi¢e was £520 12021. E57$1. Govomance ¢ost$ Y[ É4.336 12021. £4,286) aNJ elhersupport costs wre £29.48612021." £30,280) As a result. for the year ended 301h June 2022 thertr a ntl tXP8r¥Jiture of t45,264 12021." E3S.329 1 bsfort accounting for the ureiSelY k)&¥e8 on Ihe ¢valu81ion ¢1 investments of £121,032 12021. £255.170 98inl Al 30th June 2022 the tharily's I81 fvnd$ had reduc lo £2,224,958 12021 £2,391.2541, Of £845.85S 12021 £993.0561 were r8sirict8d. The charity's unreslricled fund5 of £1.379,103 12021 £1,498.1981 Vre also equal lo the ¢h8nty'$ free r8servo5 eThe policy The ITustses %%ill m[aln ad¥u818 free reserves lo meel regtsiqr ongolng 9r8nls for five years VAII exwt lo meet these gr8nts Income 9enerated al first wthin the year they a rnade. The Iru$lees congjder that the present level of reserves is satisfactory Thg lrnstsÉs vnukl like to thank most wdtmly all those help the chaNly wlh donation6 9VaS. Thoy particuiarfy Ootolul 1¢ Ihe Dan141 famlly vkno h•ve bèfyn loy81 SUPPDrter$ far many ye8r$. Apped by Ihetrusttes 8nd gvJnsd their behglftyy.. Trustee Apptoved by the Iru$tees on.. &l,,I
ThE 1930 FUND FOR DISTRICT NVRSES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TE 1930 FUND FOR DISTRICT NURSES Pa I report iotho thsrity Irustsès on mywmlnaih)n oflhe &cL1$ of the charrtyfor tha yearended 30 tsur 2022 R•spon$ibilities and basis of report As the tru6tee5 of the Chanty you are respOnb tor the prepar81n of Ihe a¢coun In accordallc8 %%ilh th8 requiremenis of the ChanbesAd 2011 I'lhe Act'l. I rewrt in rèsped of my exarninaityn of Ihe chatity's accoun15 caled 1 undér 88dion 145 of the Z011 Act and In ¢atrying ¢ul my examini¢n I hav6 foll ali the awlicAble DIron5 given ty Ihe Charty Commiss utthr se#on 14515)Ibl DI theA¢i Indownd8nt trX8rninerb ststefflent I have completed my exatnina1n. l Gonfim that no maIal mAlteis haw ccth8 to my attent in connethon my èxaminabon grIng me ¢auseto b•lieveihai in afty matèrial respKt accounbng record8re kept in respect of the tharity as required by sectiDn 130 ollheAct". or the accDunts do not Accord th those e0rd$. or e aCcnIS do not comply wlh the app11c2ble ¢4uiremenis ¢¢2M1 the form and content of aount$ Sel out in the Chanlies (Accounts and Reportsl Regulations 2008 other than any requirement that Ihe arGounls givea'lrue and fail view hich IS • m¥ttw¢¢n&dered a5 part of sn Indèrndènt Éxamination I have no concems and have come xross nD other matters in connèciitsn ihtr exatnination losthith attenlir should bè dravm in this wort in orderto enab a proper UterStanding of the 8cuuni$ to 06 fv8¢hed. Slgn•Y' Sha¢hi ebktmore. ACA Buzzacott LLP Chartered Accounlants 130 Wth)d Streei 15 December 2022 EC2V 6DL
THE 1930 FU14D FOR DISTRICT NURSES STATEMENT OF FINANCIAL ACTIWTIES FOR THE YEAR ENDEO 30 JUNE 2022 No l Fu•d Mo 2 Fund IRe$trictgdl IUnre&triCt> Totsl 2022 Total 2021 DonaiioD5 and l98d6s 5.743 5,743 1,419 In¥osbh8nis 24.811 38,288 63,D99 62.803 Totsi iii¢omo 24,811 44,031 66.842 64,222 XPENDI RE ON.. Chanlable activities 24,811 89.295 114.106 99.551 Total •xpoftdiwr• 24,811 89.29S 114,106 99.591 Not l•xpondlturel for theyear b•for i$tmOt 98ln$ 145,2641 145.2641 136.3291 N•t Ilos$trsyg•rns on inv¢¥tmonts 147,2011 1121.0321 255,170 (expprlIUr1lI¢offjè 147.2011 1119,0951 {166.2961 219N1 147,201} 1119,095} {166,2961 219,B41 R$¢w¢lltstlon of N•t movement olfund& Balance brought forw¥d al 1 July 893.056 1.498.198 2,391.254 2,171.413 Balanre ¢arried forward at JO June 6.855 1.379.103 2.224,958 2.391.254 NTINUI Tre results forthe year aj the preVu5 year as set oulabDve have been deriv£d enlirdy from continu$ operations. IN There are nofec(wJniwJ gain$ artd bsses ¢lhwih•n thos8 pa$8in4 tho Slatwnenl of FIllala1 tstivilies. The [e$ pages 10 to 16 fr)mi part oflhoso fin$rf1 statemen
THE 1930 FUND FOR DISTRICT FIURSES BAL4NCE SHEET AS AT 30 JUNE 2022 PA No t Fund No 2 Fund IRg8trictsdl (LInStricted) 2022 Z02Z Totsl 2022 rotal 2021 Flx•d assets QuDiÉd assèts 845.855 1,302,D94 2.147,949 2,268.981 64S.855 1,302,094 2.147.949 2.268,981 Current aiEets Pr8p8ymonta Cash al bank and in ha SS 92,472 55 92,472 133.387 Credltors.. Amovnts lalli duo thIN on• •ar Creditors ACCal5 18,8651 16,6531 18.8651 16.6S31 {7.608} 13,5061 77.009 77,005 122,273 N•tASS 845,855 1,379.103 2,ZZ4,958 Z,391,254 Fund 8¢¢ounts'. 893.056 {47.2011 1.498.198 1119.09S1 2.391,254 1168.2*1 2.171.413 219,841 Nel rnovemenl in funds At30Ju 845,855 1,379,103 2,224,9S8 2,391,254 Tho on p898s 10 to 16 brm part of Ihosa fln8ncl81 stSl8r(ÈN$ A)prov8d bytha committéè on 2022 atvj $igfjed on its behaff by.
THE 1930 FUND FOR DISTRICT NURSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Thp Fund Thè Fund ¥¥$ inauourattd in 1930 for the 0orfil of Drstricl Nurses by a gift of £100,000 from the lab Mr. Eme$1 Cfy)k. Thls ginal fund, nowknovm a$ No 1 FunJ. 1$ reslDctèd in Inai it can wply onty 11$ Income ts Ihe ¥¥ork undertaken. The amount of the No.1 Fund 18 ¢on$equ8ntly 8qU81 to tho capital inveslfflenls represented thereby 8130 June 2022 In 1974, the In¢omtr from t No.1 Fund be¢sme In$UffiCt lo meet the needs of beneficiaries arvj. In otder lo supplement the tunas avaiLqble and lo broaden tho y[k of th8 Fund, ¥ No.2 Fund was forffled froffl lurther gifts reiVed from domrs. The No 2 fund is unreslncied and both Income and capilal can be applied to help beneficiarie$ Thg financial staternents are drawn up to dngUISh thé acu¥8$ of Ihe No.1 Fund {Te51rictedl and the No.2 Fund lunresthctedl. 21 Policles The prinpaI £CCOunling policie5 Adopted. judgemenLA and key Sr¢¢$ of 8$1imatrti) un¢ortalnty ifi the preparalk?n of the accounts are out bdow 1) 8asl$ of proparatlon These ffinallrAal statements have been prepared for the year lo 30 June 2022. The finanual stgternents have been prepared under the histon¢al ¢osi veni1¢n ilh rtemg remgnised al cost or tran5aGion value unless ottrAse Staled in the reEev8nl ac¢wnb"ng polKies bElowor the notes lolhese fifjancl ¥talemenls The aOuLs have been In aeaKdan¢e ¥h Acwjnting and Rewrtinp by cnIles. Slalemenl of Recomrnended PraciKe applicable to chanlies prepariw thglr 8ttOunLS In gecordance wlh the Financial RepDrting Stsndard applicab In the UK and RewblK of Ireland {FRS 1D21 Ichariiios SORP FRS 1D21, the Fin8ntyal Repmiw arpli¢8bit in tht UK of Ireignd IFRS 1021 and tre Charitie$A¢t 2011. The tharily constitLrte5 a public b2nefit enlily a5 defined by FRS 102. The finanLial stalernenls are wesenled in 5teting and are rounded lo the nearest pound. ill Crili¢•l •¢¢ountin9 8Stim&tss and •réa$ of judgom•nt Preparaticffl of the finawBI statements iequres the trustees 10 make SnIfnI judgements and e5Mates. The Iste85 do 1 (¥)nsider that thare are any sources of e6brnthon rertainlY or key judgements mada in the pparatIOn of finantjal statements jjiIA#ossment of going ¢on¢orn Th$ Iiustees have e$s etIr the vse of the gimng o)rKetn a55uTnption is a[0318 in }yep8r9 ihese finan•1 slalemenls The Iruslees have made this 8SS8S8meni p) resp8¢t period of one yeartrom the dale ol approval ol ihese financKal statements trusi88$ of th8 charity h8ve concludod th•t Ihere 8re no matersal uncertainties rtrlated 10 tvonts or ¢ondilh)ns Ihal may cast SrgfiCanI doubt on the abihly of the ¢hanty to wniinue 8$ 8 going C(cern. and the Iruslees are of the opinion Ihal the ch8rrty VAII h£ve suff¢tni resour$ io meet its IiaLwlilie5 a5 they fall due. With regafd lo the nexl accounting period. the year ending 30 June 2023. the tnosl signfftanl areas that affect the carrying value of the assgt5 held by the chanly are the Ve1 of invesimwi r•iurn and the patrman¢e of the investment m¥hei$ itsee the Invèstment Polity and 8 risk mA9£MnI se¢bQ19 of th& Imsleès. rewrt for more Infonnabtyll.
THE 1930 FUND FOR DISTRICT NURSES NOTES TO THE FINANCIAL STATEMENfs (cont1ndI FOR THE YEaR ENDED 30 JUNE 2022 Iv) Income recognitio InLYJtne recoynisod th& 11¢ • thich tho ¢harity ha5 entitrnl to the Income. the arnount of InMe esn btr m&a¥urod rdiably ar il is pr¢b8ble thai the CL¥ne wll b& received. Incrjme Is deferred onty the group orchanly has to fulfil ¢ondli)n$ before be¢tshi onli1 to ere Ihe donor ha5 Sple Ih&ithe Incoffle Is lo be expended In a futLJ¢ 8tt¢uniiw penod. Income wmpriso$ donations and lega¢i?s. inv•$imeni income and Intere51 reCeable. Don81ions a ¢nISed Ihe ¢h8nly has tyMfitmiion of both amount and settlemenl date In the event of donion$ pledged bul nDf received. the 8mounl 15 ¥¢Ctued for there the recpipt 18 con51dered probable ln the event that a donaiion is subject to CDnditions th81 rèquir¥ 8 I&vo1 of perfotrnarKe before the Gttarily 1$ tnlilled lo the funds. the Income Is deferred and not reeogn15ed unbl erther Iho$e condilN)ns aro fully m¥t, or the fvthlmenl of those c1110S 1s wknolly vAlhin the ¢trol of Ihe chanly Il 1$ probable Ihai thos• conaillon8 v1 bg futhlw In Ihe reporti penod. LegleS are Included In the 5taternent of finanual actsvrties the chanfy 1$ to l898¢y, the executors have eslablished that there are su[fiCnI surplus assets In fhe estate to Pay ihe legacy, 8nd any ¢ondilK)n¥ attathed to Il1tsgaty are V+ilhiD the control of the charity. EntitMent is taken as the tartier of the dale on wlher the chanly Is aware Ih81 ryobate has been gr¥nitrd. Ihtr tstai$ has be8n finali8ed and notificabon has been rne by the executor lo the ¢h¥nly that a di$inbulH)n Y•ill be made, orwhEn 8 dislribulv)n is received frum the eslale Receipt of legacy. in or In part. Is only cOnsided probable when IhÈ 8mouni Can b8 moasurea rsliab and Ihe charily has bn Dolified of the execulLs Inlentson lo make a distribulKJn Wnerè 1sgaU•S havt Len noiifiod to the ¢harty. or th¥ ¢harily 1$ a¥Yare ol the granting ol probate. bul the cnleria for irtom¢ rwnilion have not been met. then the 18ga¢y Is treatsd as a contiwenl asset and disdo¥ed If material. In Ihe eveni Ih81 the is In fomi ol as88t other than or a financwl asset traded on a recognised stock exchange. recognit is subject lo the value ol the gift Wng reliably measurabb ilth a degre8 of reasOnae aCracY and the Ilue of the 355el having tiang Ir¥nsfwr0d 1¢ Iho ¢hatity. tlvidènds are rawgnised once the divkl8nd has boon ded8red and nouftaith has b*n ro¢0iVod of the dividend due. Intsresi funds heFd on deposit 13 in¢ll v4hen rePiable and the afflount can be measured li$bly by the charity. thi¥ 1$ normally upon noiific8l Df Ihe iTrtsres1 paKJ or paYae by the bank v} Exwndituro recognluon Liabilit5 aro reownised a$ eypenditure as soon as there is a legal or consiruthvè obligBtlon <tsnmitting tha group or charity 10 mako a payment lo a third party. it is probBble that g transfer of $Wltyhic $¥ v•ll rtrwir8d In $ettietn&nt aDd Ihe arnounl of the Oblatn can be rneasured l Bxpendrfura 6 a¢eounted fDr M an accru813 baS inclu5 attrilable VAT canTrJl be rBcovered. Expenditure comprlsès direct costs and $upp)rt costs. All tynses. ClUdi SLVWrt costs. Are albcated lo th8 Awlicable axpenditur• hoading. Expendilule on chatitable actm15 compnses grants payatrAe to llW5es, the co$1 of the Telephone Befriending SeivKe alk)rated ¥upp(Yt Costs. Grants payable are ¢rdd in the slal8menl of financial actwitie5 vthen approved and then the Intended [MeThI has either re¢eived the or been inform8d of the 10 make the grant and has s3115fied all relaied conditions.
THE 1930 FUND FOR DISTRICT NURSES NOTES TO THE FINANCIAL STATEMENTS Icontsnu•d] FOR THE YEAR ENDED 30 JUNE 2022 vl}Allo¢atlon of support and governn¢e tosts Support costs represent Indirect ctrHrilable expendilufe. In order to carry olrt the piimary PL¥poses of Ihe chatrty rt ES ns¢os$ary to provid8 $UPPQrt In the fonn ¢f financi g¢vtrft•n¢e predUres. provision of olfice $¢Ni¢e$ and equipmantAnd a suitable wthing envlronmenl. Govèm8nc8 costs Ccrmpnse all pSIS rdalin9 to the wdic attounwNiity of thè charKy and ils COMn£8 regulaban and go¥>d practice These costs indude COSts reIlrO to the Indewdenl ¢MinatIon ollhe financial 5talernenls and legal fees. Suppm ¢D$i$ and governance cosis are allocaied to chanty's sin9Kg challtsb 8CIIVity. vlil Itwe¥tm•nts Listed Investments are a form of basic financial inslrnrnent and dre milr8lly nISed al their Iransacth?n value and sub¥equenlly ffle3¥ured at their fay value as al the balan Sheet dale U9 Ihtrdosing market p The chBnty does not acryKe pul optk)ns, d8ri¥aliwe5 cr othermrA8xn8na8l Inswmenls. As noted atnve Ihe rnain form of firbancial nsk faced by the thanly Is Ihal of volthlity In equity markels and inve51menl matkels due lo wder econDmK cdItIOnS. the allilude ol inveslors lo inve61menl risk, and rhatye¥ in sèDbmèrtt concèming equthes and %%lih partlar Sect or sub tors Reali%ed gains ior10$8asI on inv&$imeni 8$Stt$ ¥r8 ¢ai¢uiated as the drfference btivthn ¢isposai ¢eeds •nd Iheir openin9 Carrying value or thgr pwchase Val Is acquired sutywuenl the first day of Ihe fing01 year Unrealised gains and kJsse$ are c8l¢ul8led 8s the diffe n¢e bet4Yeen the fair value al Ihe year end and their carrying value al that dale. Rea11sed and unrealised Invesifflenl gains lor losses) are combined in Ihtr Stslpmeni of finaVal activities aj are Credit lor debited) in thè year in which Ihey aris Other invosknonls ar&inclLKtgd al riJ51. thic is considared to bo apwoxhm81• lo Ihgr markat lUe. viiil Debtors are recc¥JnisaY al their settlement amount, les5 any provision for Thjn-recoverability. Prepayments are valLd al Iht atnounl pr8pad They lave beeD discouDtsd lo the pre5etht vu8 of Iho fuluiè cash I$1pth•lè such discounting is matèrial Ixl Cash at bank and in h•nd Cash ai bank ar hand repSentS such a¢wni$ and in$itynl¥ th •rn av¥lable on dern8nd or hawè A maturity of less than th months from the date of Wulsibon. Nl¢rodlttrs •rtd pro¥l$lM$ Creditors ar pr¢vBon$ are re¢ognis8d Ih8re 1$ ¥ oNoaiion 81 itÈ bal8nco $h881 d81è As a re11 ol A pasi 8¥èni, it Is probatrA8 that a Iransf&i of èconomic bèMfiI V•ill bè rèquirèd In seitkmenl. and the amount of the setuemenl can be eslimated relblY Creditors and PfOVISions are recognised al the amount the charity antipaS it Yill pay to Sett the debt. They have been diswutrted to tho pre¥ent v3luB of the fuiuFa cash payment where suth di¥countl Is tnalerial. XQ Fund accouniing Re51ricted lunds are monies raI5ed for. and Ittr used reslricled to. a spxffiG PLkPJ5e, or dOnatTr subjecl lo dory)r condilv)n$ Lhreslricted Ivnd$ reprewl those rnonie5 that a freely av¥i18ble for ap1¢01)n Ir¢S a¢hwing any chanlable wrp05e that fall the charity's charibtle obJed¥. xlll Stat•rnent of Cash tlowi The financkql SleMentS do not in(4ude ¥ stsiemeni ofcash fi8 ts888 ¢harity is txempt from tha r84uremeni to prepare such a statsmont undor the Charibes SORP FRS 1Q Upd*e Bull8in I and 2.
THE 1930 FUND FOR DISMCY NURSES NOTES TO THE FINANCIAL STATEMENTS l¢oniinued) FOR THE YEAR ENDED 30 JUNE 2022 13 2022 2021 Unr0$t¢t0d lunds na Legacy IMO S GreeThvKJDd IMO Karen M$ha IMO John Topping IMOA9nes Jonès Sir Pot8r Oaniell Chaiiiy Trust Mr & Mrs Roger Danidl l mist81188 und8r£2$0 1.600 1.206 598 37$ 300 250 500 669 1.664 Totsl S.743 1,419 41 2022 2022 2022 2021 R$trirted lJnre$lrict•d Quoted inv8$tmenis 24.811 24,811 24,348 ND 2 Fund Quot& Inve5bments 38,281 38.281 38.451 Int•r8sl Incorn Total 2022 24,811 38,288 63,099 62,803 Tolal 2021 24.348 38,45S 62.8Q3
THE 1930 FUPKfy FOR DISTRICT NURSES NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl FOR THE YEAR EPIDED 30 JUNE 2022 e14 slsole No.1 F¥nd N•.2 Fund 2022 2022 Tol41 2022 Total Z021 Charltablè a¢tfvhle$ Grnnts TeknPe Btfrnding Serv@ 24.611 $4,953 520 79,754 520 Sd,410 575 24.8f 1 55,473 80.284 84,98S Support ¢osts Adfflin15traiion IT Support Travel and mstlings Printing. Frf>51 and 5t8lionery Bank ¢h$rge$ Miscellaneous Tekphone 27,218 69$ 27.218 68S 586 643 319 35 27,220 2,237 418 334 35 36 319 35 29.486 25.486 30.280 Gty¢m•n¢e Independent exarner fee {note 71 Admini$iratyon ACtntaneY fees expenses 1.6È0 1.456 .200 1.680 1.456 1,200 1.632 1.454 1.200 4.336 4.336 4.286 Total ExndItu 2022 24,811 89,295 114.106 99.551 Total 2021 64.744 34.807 99.551 61 staff costs and rernunoration of k• mana &m&nt rÈann The thatity eMoyed no mèmbers Of staff auriny the penc The administration finar1 M?aent ol the d the ¢h¥ty Is thrts0[ io The Trust Partnership The trus¢8 consJd8r thai they comwse the key management of the chaiiiy in charya of dIlTrY and controlling. running and operating the ¢h*iiy on a d•y to d•y b•si8 Tho IruSeS trived no rernunerdbon In conne¢iv)D Iheirdubès 71 om nt In fund• 2022 2021 This IS slated afterchargirg". Indewdenl examination fee 1.680 1.632 81 m•nt totruBt4•s No trustee or any person conneGt& wlh them navo r8¢eived Qr ara due 10 r•c8we any remunaralion in respectof IheirservKe3 as 8 trusts8 in the year, 12021 - £niD twsleè [dNe0 reimbut5etnent of admini$iraiive èxpenses 12021 perlrymance ol dubes. £nill ir¢urred In th
TrIE 1930 FUND FOR DISTRICT NLIRSES NOTES TO THE FINANCIAL STATEMENTS Iconunuod) FOR THE YEAR E14DE0 30 JUP4E 2022 Pa •15 91 Flx•d a d Inv•Btm•ntB Flo.1 Fund No.2 Fund 2022 2022 Totol 2022 Totsi 2021 Matketvalue ai stsrt of fin8no¥ year Disposa15 at matKet value Realised unrealised Ik)ssll98ln In the 147.2011 $3,056 7.375,925 2.268.981 I1,000) ?.170 l•lerket value atend offlnan¢ial y¥•r 845.855 1,302.094 2,147.949 2,268,961 The funds aro ¢ompri8e¢J a• follLAtsF'. 2022 Mark•t valu• 2022 Incorn• BlaGkRock chtIeS UK Bond Fund 13S.493 5.064 BFackRock Charitie5 UK Equity ESG Fund 541.705 17,410 Ruffer Chatity As¥el¥ Trust Income Unit8 168.657 2,337 445,855 24J11 BlxkRock Charitses UK Bond Fund 217,100 8.114 BkRk Ch3rilRs UK Equity ESQ FuThY 827.782 ,603 Ruffer Chanfy Asget¥ Ttust Intome Units 251.212 3,564 1,302,094 38.281
THE 1930 FUND FOR DISTRFCT NURSES NQTES TO THE FINANCIAL STATEMENTS Icontinuvdl FOR TrIE YEAR ENDED 30 JUNE 2022 P8 e16 101 ve Balan esh t 30 une 2021 P40 1 Fund No 2 Fund IRestrSctedl IUnrO$tyiCt•dl 2021 T¢)tal FIx0d •8$0 Qtsotod asséts 893.056 1,375.925 2,268,981 B93,056 1,37S,925 2.268,981 Ca$h al b8nk and Wi hand 2,828 130,559 133.387 CrÈdilors.- Arnounts f Ill A¢¢w•ls •n¢ deferred InMe 12.8281 18.286) Not current assots 122,273 122,273 Net 1498 198 2 391 254 Fund accounts. 796,863 96,193 .374.550 123,848 2,171.413 219.841 Nèi movfrmeni in fund$ At 30 Juné 2021 1 498 198 2 391 254