THE 1930 FUND FOR DISTRICT NURSES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
ThE 1930 FUND FOR DISTRICT P•JRSES INDEX TO THE FIMANCIAL STATEMENTS Page Reference & Adrninislrative Inforrniiion Ch•irfs Statement Tru51aes' Annual Rert Independent &yAminefs Report SLgiernwt of FinanciAI A¢bwlio$ BL40 Sh*t Nolo$ tOlh8 Fin8n¢kql siatomenis
THE 1930 FUND FOR DISTRICT NURSES REFERENCE AND ADMINISTrAmVE INFORMATION Tru$th•#.' Ch41r'. Lindstry Hayes RGN, RMV. PGCEIFEI. MS¢ ICh•r from 1 July 2022) Troasurer.. Adam F4Mrhead MA (Oxonl KEron Lynth FCSI (regned 7th October 2022) Joan 8ailèy RGN, RM. RHV, IAS¢ P2ler W Gotithin Judy th)s8ph ONC,RGN,RHV.BA{HorI.mA Jean Row? RGN. RHV. PGCEA. MSc(Soc Resl Ir#$i4ned 61h D8¢etnber 20221 Halon Ml81& RN. SPQDTrI, MA S8rah Hayes AN, DN. Qwns Nuw lapwinted 20th September 20221 Elaine Clancy MPA RGN RSCN (appointed 20th Sepl8mber 2022} Au$iin Bodunnn18ppoinled 131h De¢emkr 20221 AJmini5tratLsrs'. The Tiust Partn¥rship 6 Yrull Fatrn BU1196 Telbury Glouce$lershire GL8 8SQ Independ•nt Exarninor.. Monahans A&ountants County Gale County Way Troknridg• Wiltshir•. 8A14 7FJ 8ankorn.' National Weslrninsler Bank p 186 Brofflpton Road London SW13 1XJ CAF Bank Limited 25 Kings Hill A¥ènuÈ West MliThJ Kent ME19 4JQ Inv•stmeMt Manag•rg'. BlaeKRrrtk lThve5tment Managemenl p 12 Throgmorton Avenue London EC2N 20L Ruffer LLP 80 Viclorra Street London SW1E SJL CCLA lllveslm8nt Manaoèmeni Mited On•ArLgel Lan& London EC4R 3A8
THE 1930 FUND FOR DISTRICT NLIRSES CHAIR'S STATEMENT FOR THE YEAR ENOED 30 JUNE 2023 Thi$ Is my se¢ornd annu report 8$ Chair ol the 1930 Fvnd for Dlsknct Nurse¥. I feel privileyed 10 Mirk Yéilh Trustees vho are committed, knovjedgeable, hardvrkIng, pr<Vell¥e and ¢thesive group At the end of thi5 year l am very eaSl lo report Ihal desle anolhw challen9in9 finarrial year. Ihe Fund ¢onlinue$ meet Ils obie¢lives and assist many CDmrnunily nurse5 This last year has been nOlae in lerrns of the contu turbulence of the fina181 m8h?Is ¥nd ri$in9 co$1 of living especially energy ¢0$15. The ongoing finaDcial squeeze for those KTk in the heatth and sociol rare sector Impacts all of thosé aAilying for assistance. Most of thé applKaiiofjs come to us via our bsybsile and V are p35 lo noie ihal it ConteS to perform well 88 the Trumbets of appli¢aiw)rts In¢rease. Th& trends that Yre noted IB51 year by both our nurse Gueeners and in the Annu81 Benefnary Revwhave Contin0, most rx)18tyly the youngerage ol applicants In the 3 moDlh5 (rom March lo June 2023 01 the 47 aprAic8tions ceIVed 21 vre from under 40-ye8r-okls. 21 under So, only 4 over 50 and for th8 first lirne included 2 applKanls Wre under 30 years old Reascns for applicalicns lange frorn aSSistanc8 ¢hild¢ar& $1$, housthdd 119rn5. house repairs. car repwf5. Scho 10rmS a continuing diverse range of knhitÉ goods, brlarS and hr issues In alIv), many apptsl¥ cite ill heatt incding m2nlal healil and chronic health condition5 that ccnlribute to financial ¢hall8ng6$ W$ also noi¥ Ihai the ongtyng impa¢t of Cowd OD the NHS in general. and nurses more 5peuficaly. 15 r8port•d by our altants Ihrough poor $t8ffing Itvels and In¢rtasing 5gvgI5 of siaff stress. CLvnpXIIY 15 a Iheffle thal Tuns thrgth boih the Issues fad by ow applun15 and Is Also echoed In the Increasing complexlty of h6alth care requirtd in Ihe general rx>pulation a5 mally present wlh rnulliple heahh Issw&. MeaTrfii the 901 impact of the lUuleI financial markets has impact on OUF Incomè in tgrrns of th8 monoy 8v•ll8bl lo support gro¥Mng numbets ol applicatns. We contsnue lo bg cofflmilled 1th the increase In Dur ch8riiabk gin9 as agreed In 2020 and Il 1$ nty¥ t8 for us to ¢on$i&èr broadening Our strategy 10 tske in to account all OLY aclbvilies and expenditure This ¢ryning yew wl1 the opportunity to revlw tyJr •hi$ling $tr8184y dBvelOP Il further in re¥onse lo charyino need. Wnilst %%E have been fortuna to see our •quily Invgglrn•ni Incomè for year in¢r•a$t, * havè also increased ow outgoing 9ranl payments lo beneficiaries lo a total of £93.691 comparad 10 £79.764 In 2022. Bul a$ 811 ¢081s increase, so do our support setVlGe costs and other govemanGe cosls l am a0 pleased lo say knat we have Increased the reach of our Tekphone Befnendlng S¢Ni¢e as an offèr to all OL beneficiafies Vve have therefore expenenced an ireaSe In dernand for our Teleph)ne Befrieftding Service 8nd ¥sso¢i•ied cosl bul aFe delighled ihal the offerhas been taken up by some ol Ouryoungerappl8nls The Inve51menl objective of Ihe Fund Is lo maintain the real value of Its Invesknént portfdio Over th8 long twm after In1 and capital disbursed as chanlable ObltIveS When choosing Investment funds. the Trus5 V•ill take a¢¢ount of ESG IEnvioMieDial. Sockil and Govetnancel poIy. sustainability and olhBr elhical considerations. This year. In order to diversrfy our Inve$lmefils m¥iniain suffiGienl Income lo meet our oLy'ectives we have moved ihe majority of our funds 10 a new ve$imeni man8yer, CCLA Investment Managernent Limited In addiiion lo Ihrs change, we have a0 appointed nev4 dependenl examiners and set newknk accounts vAth CAF Bank I wruld like 10 eond my thank$ 10 all those have helped us lo sUPPW)rt community nurse5 over thi4 lasl year O colleagtses ai the Trust Partnership ¢tile 10 manage Qur ¥dminislr8tion effectively. We are pariicularty graletul lo Mi Duddndge and her learn tor heT sensi&ve mana9emenl of Our Tdephjne Befiienain9 Service th81 offer5 con1¥ support lo the Isolated aDd IDnely. are also very graletsl lo Ihose have made donations 10 support our ork. As * Con1kn to glow. and ¥%e endeavour to reath out artd $upport more cornmunily nurses are in hardship. every donation 1$ • vrt81 tributn 1¢ u¥ ¢WIinug 10 a¢hiev$ ourory09 mi$$ion. Fin8lly, I vo)ukl like to Ihank ¥ll my Trustee colleagu25 as they have continkd lo gNe their IKne. energy. knled and cljntnbiOn$ throu9hDul ihe ye8r They are a divetstr group of peopl& ¥vho ennch Ihe N4vrk of this chaTrly and thout whom uld cease to exlsi A the end ol la$1 year, * said goodbye its Jean Ro, ¥ TN$tte ¢olleague lor $èverai years. We wsh her 4vell and Mll mis5 hgr ContributTr5 and extensiva communiiy expenen¢8 I would like 10 *icome Our Trustee 511 Bodunrin vtho brings expertI5e that enhance otsr finanu81 management 8ThY Inveslmeftis I look to v[king with all my Tru51ee cOlaWeS overlhis corniTra year. Lindsey Hayes ChaThe 1930 Fund for D15tnct Nurse5 September2D23
ThE 1930 FUND FOR DISTRICT NURSES TRUSTEES. ANNUAL REPORT FOR THE YEAR ENOED JO JUNE 2023 Pa The iru$téé8 •r• pleftsed to pve•ent th1¥ 92nd Annual Roport toythDr ith tho finari%l statements of thp charity for tho ar 3Qth Juno 2023. The financKql sldlernents have been wepar&Y In accordan %%ilh the accounting poliutt$ #ei oul on pages 10 to 12 of the aiiacw accoun15 and compty 1th lfre charily'6 trust deed. Ihe CharhliBs kl 2011. ogulaiions appluble Ihal Act, and Accountin9 and F¢ewting by Charilies" Stai6tneni of Ro¢omrnonded Pracllts applicabl• lo charilE5 preparing Ih8ir ac¢ounts accordance 1th tha Finan81 Repcrfing Sl•ndard aryli¢able In thé UK and Rewblic of lieknd {FRS 1021 STRUCTURE, GQVERNANCE AND MANAGEMENT Con$titut6on The chaiity IS iegulaled by a Tru51 t>eed daled Iolh OCtor 1930 as amenthd 3rd July f974 and an ¢yder dBled 23rd Fabrary 2005 as amended by SpeLyal Resoluknon dated 21st Jwo 2005. Thè tharbty has nine Iru51ee5, meet quarterly. There are two sub ¢ommittee$ of Irustee board. nam&y a nut5 cornmittee atvj a finanGe oJmmitt. membgrs of the nu(¥ès ¢ommrftee 1oAd Ihg assessment and allocatn of grants the finance cotnmittee is re$pon$lble for malntsining an ov6rview of the Fund's finances. Th9 tificatiOn of poni181 nwi Iwsiees 1$ carried out ty the board, the aim being to appoint Ih05e wLh the appropnale ewrti$& and èJpwen¢è for the charity'8 fj[k. On agrellg lo become a IruslBe gf the th8rily, they ore thoroughly briefed by their co-truslees on the history ol tho Trusi, the day-itrday management, the responsibiliiie5 of the Iruslee5. the cuffenl obj-ectives and futu planA. The Irugtees are 8150 Orra to ailond any Urse5 they feel are revant lolhe devebpmeni ofth8ir lob. and 10 keep up4trdale on any chan985 in kStsIatiL. Staternont •1 Iiv$ts•#' wpon•lbllltl•¥ The Itustees a responsible for preparing Ihg Iruslees, report and aGcounlS in a¢¢ord8n¢o yth appl¢able law and United Kingdom Accouniing Standards Iuniled Kingdom GeneFalty kceptqd A¢wunling PrÈrticel Tho law akwicable to chatiiie6 in England ar Wal68 rèquires tho ifu515 to prepare accounts for each fina181 year vthi¢h 91¥e a tsue and lair VW ol $tsi¢ of •ffair¥ tsf the chariiy and of the Incorne and expBndiluie of charity forthat pèrtDd. In preparing Iheso accounts. the Iru51ee5 are Tequired to". sdecl sullabl• accounting polie$ and then apply them Con51811Y, ObSee Ihe rnèthods atK prcipltr$ in A¢¢ouniing and Roportiro by Chari1I5 Slalemenl of ReMmn PraGlice applicabl• 10 ¢harrfi•s preparing Ih8if acnIS In accordance ilh the Financ1 Rèwrtlng siandard appli¢8ble In UK and Republic of Irend IFRS 1021". rnake judgements aDd estim818s thatare reas9b1e and prLh4enl'. slate vthether ap4Cab1e Uniled Kingdom AcEounlirKJ siand8rits have been folhtd. subject lo fflateri departures dis¢b$ed and expianed in lh& accounts. and prep8ro the a¢couni$ on lh4 gDir6 concern bass un5 inakyropriale to pre8umè Ih81 ihe eharily will ¢onbnu¢ In ¢peralion. The Iw$iee$ 0 rewnsitrAe for keeping proper accounting records that dis¢k)se wlh rea90n88 accuracy at any kntne the finantyal positic of the charity and enable them lo ensure that tho 8ttounis mplY the Charities Act 2011. applica Charily IAccoun15 Re8) Regulations and IhB provi$ions Df the charity's inj51 deed. They aro also re$ponsible for safeguaTding the a$$tri¥ of ihe ctY hencfy for tIn9 reasonable steps foi the Prevent dete¢¢ion of fraud and other Irregulariis
THE 1930 FUND FOR DISTRICT NURSES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2023 l¢ontinuedl P8 STRUCTURE, GOVERNAMCE AND MANAGEMENT Icontinu•dl Structure and managemtnt r•porting The Iruslee8 ¥re ullifflalely responsible for the policies, acliwik5 and a5seis of tlÈ chsrfty They meet fow bm6s a yèai to Vie4Y developments 1th reyard ttr the chanty. its gr] 9iving actiwlies gnd io makè any imp)rtani dÉck4on$. They revi6w the in¥e51mèni ¢riwna and th8 8SS¥1 alb¢i¢n. When necessary. the Iruslees seek advice and $UPPDrt from th8 cnI18 profeSSnal aavl$er$ Including Inveslmeri managers, sdlcilors and accountants. The Trusl Parinership 1$ responsible for the day-to-day managerrenl of the chanly'$ aCbvilie$ arwj Iht implernenlalion of pol5 with Fesponsitility for thlaling grani requests and paymenls and mainlainiry the Bccounlin9 records BlackRock Investmonl Managotntnt PIC lunlil 18 April 20231. CCLA Investment Managemoni Ltd (from 27 Apnl 20231 and Ruffer LLP man9 tho Ch8rity'$ veStMents Al their meeliw5. the Iruslees 111 review ihe pertormance ol the lnv68imenl$, r8gul&r repjrts from Ihe Inveslrnenl man8gers wll updaie the ITuslees on the conlenl and performance of their portfolios Key m•n•y•ment por6onnFI Tho tsv81888 consider that they comprise the key managem ol Ihe ¢haAly ¢hary8 of dira¢tiw and ¢ontrdling. runnin9 and Dperating the ¢haitiy on • day 1¢ day basis. The ItU51ee5 receive no reMUner8ti. Rlok MAn$y•M•nt In line wlh the requirement for Iruslees lo undertake a nsk assessment ekEr¢i%e and pty1 on the s8rne ill their annual report. thè Iruatees have bDked ¥1 the risk5 and have updated the Risk Register. The Iruslees have id8niifiod five ma1 aaS %theie ri$k may ottur and ¢On$etd howlhey mighl Tniligale 39ainsi Ihem Goyernanco and Man4Mni risk1o¢k$ 81 tho risk the chaTrty ffl19hl suffer fTom a lack of direcuon. the skllls and Ir8ining of the trustees and the gcod use of tis fund$ The tw58¥ urfrtaKe siralegy reviews lo ensure ihe Charitab 0tr4eclives 8 mei. Ttuslees are offered and tske up training, and afkninisiraiive ¥upport from The Tru51 Partnership ensures proper man8getnonl of the chanty Operational iisk kxbk5 al the risk Inherent in the choriiy's aclivdies In¢1Th9 $vpportiW Un5uiiaLqe appeals from charilie5. ¢ofttinuily of 51aff. lack of a disaster recov pdicy elc Thg Ifu$i admini$itstors (The Trutsi Partn¢rshipl screen appeal& making SurÈ th8 3vards are ID accordance wlh Ihe charity obieclivès prior 10 Injsièè 8¢10oning ¢on$ideration. The Trust Partnership opeBie$ ]h sufflty$nt $iaff to support charity should the pnrn8ry administrator b& Unava810. Financial rlsk$ Include those 8fisiny 8$ 8 r8¥ulI or PODI bud9elary ccnlrol. inappropriaie spending, poor accounllng, Inappropriale inve51menl pdicies ete Thé charity's flnancÈs ar¥ by iruslep5 al the Irusl meetings and a 5eparAle tsuslee group undertake a separate financial ro¥i•w annually 10 ¢onsid6r tha chafity's Inve$imenl$. Ongoing grants are revlew6d by administrator a. in some Instances. payment$ 8fe m8d8 di¢t to ¥etvth provvjers to ensure the intended bsnefit i¥ re¢eivgd. The accounts are Independently revEvd. Reputational rl$k$ kjok al rfvsb16 é¥mage 10 Iho ¢hatiVs rewlation, through our actms or asscdabons Dr Inappropnate acbvity Thérè ppli¢ies rtyrtting Data ProteCtTr and Conflict of Interest as 11 9$ appropn81 COn51deralion of the chArity's aciivbtie$ and •$$(¢iatifyTr$ The Tru$iee$ rewav all of their policies annuallw at Iheir June fflèèbng and have done BO this year A¢¢ordingly. Laws, r•gultions, external and envlronm•ntal Tls looks ai the effe¢i$ of govemment poli¢itS, tho ¢onsequeKes of non- (MPl1ce wlh w5 regulations and effect ol ext$mal maii&r$ on tha charitW5 PriDGipal a55et. Ils iThveslmenl porttyio Th? fund mwniaiD$ efferlive liaison professionAI ad¥Bors,' Buzzacotl LLP (pvi$ IrwJep&ndenl Examiner), Mcnahans (new Indspendeni Examirterl, The Tru51 Partnership IAdv150rl. the Charily commission and r4ev8nl Inveslrneni bjnd mandgers. Havrv) assass8d the fflaior nsks lo **ich the chanty is pOsed. in parti¢ul¥r tlw)se fvlaiing 10 its inYe51ments and fina$. the Iru518gs lIeVe thai by monitoring reSee levels. by ensuring Ihal ¢onirols exisl over key finaDGial ¥yslems. and by ex8minin9 the opefaiionai and business n¥k5 faced by the chanly. they have established effeclive sysleffls lo milyate Ih05e ri5k&
THE 1930 FUND FOR DISTRICT NURSES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2023 l¢ontinu•¢l) 08JECmVeS. ACmVlmES AND RELEVA14T POLICIES Charitable objectivey To prowde asStance lo those cornmunity Thur5es in n&. hardship and distress. ¢[1&5 dk8th¢t norsos, community psy¢h1airi¢ nur808. c(x))rnvnity 0rVj dlsatslity nurg•5. community mithmves, heahh visitors. school nurses and other Fègigtered nuises have underiaken spacHlist Trur6e edu¢aiion 10 in th community And anyone forrnerfy 44orked In any of Ihose capaCeS. The disMrsemenl¥ arg u811Y gwi$ lo supeMent Income cases of fvard5hip. The tharily also avmrds grant¥ lor hoTne maini8w¢B or Ihe pur¢h&$e and n51alTrdliDD of moknlily there appropriate The Injslees WOrne personal contact with the beneficianes and hope Ihal IhBy coDaider iheir rela0n¥hP N%iih the r8rrty lo be a long 18Ftn one The charity a tdephone bthiefiding SeTW¢e. keepng ¢ta¢t wlh thwr on901ry nlnIS ev six months in 8 ¥124 capacity Public Benefit In setting the Gharily's objectives and planning ils aGtiwties. the ITuslees have gwen ¢arefvl ¢onder81ion lo kne Chanty Commisw¢n'¥ gereral guidan on publi¢ bentfft A¢hbv•m•nts and rfOrmanc The charily ¢ontynued 10 fvlfil i1sfuncon In a¢cordan¢• lh8 obs1v@S sel out abDve The Itu$tsas bdiove that tho Chaws fnan¢ial Oblo¢t&S h•ve been adèqualdy mg1 dunng Ihe year. HOVer, sin a svJnifi¢8nt part of its as$e¢$ are mad8 up of investments are sensibve to Ihe general performance of the UK and overseas 51ock markels. there are extemal factors ttiCh coukl affecl the achievomen15 of Ihe$ obi8¢live8 sn order lo minimise these. the Iwslees have sel prent Inve51meDI pdKies The Iw$lEes ore $8lisfied with the performance of Ihe inve51mtni$ and rornin saiisfieé IhJi trif investment £d)ie¢l¢S we b•rvJ mel Plans for fuwr• portod6 Th8 liug1099 have and 17 contsnue to review lh• activities and slmclure of the chanly to ensure that il oF*rates as efficiÈnlly and effecti¥èly a5 POS5ible. Folknmng the 2021 rewew. the trustee$ Sati8¢ thai Ihe ¢hadly W88 meeting IS Dbieclives, that fund5 are used apwvprialely there is a ¥1¥ pro¢e$s ol the ongclng 8nnuiiant grAni$ The chgrity ccnlinues lo make Iru¥leg IrainiDg 3vailab and knoks lo other ¢fr8Dlhp¥ th $iml8r obJe¢lKves for benchmathing.
THE 1930 FLIND FOR T)ISTRI¢T NURSES TRUSTEE$. ANNLIAL REPORT FOR THE YEAR ENDED 30 JUNE ZQ23 l¢onlfjnu•d FINANCIAL REVIEW In¥•51ment por5 and r•&ultS tnn9 the year Ihe eharily'5 POrtfrAio feturned è p)siti¥e yidd linctyne. u$ ¢$pital Yains Dr los3È$1 of 7.9% gain 12022.. ne9alive Yie 012 6%) The charity d$ noi have a 5peufic benchmark bui aims to maintain lh6 ieal valuè of ihe itlv6$in)ni portf10 the long terrn, afterlakin9 accounl ol Incorne and capital disbursed as chgnlable gClivili•s Flnanelal summary Income for the year was £7S.598 compared hith £68,842 for 2022 Payment$ to the ¢harity'J b&neficianes lolalled £93.691 12022 179.7641 of £10.895 12022.. £11.2801 relaled to monthly ty quartedy gnyoing gr¥nts The cost of the telephone befriending SeiCe vrds £1.264 12022 £5201. Govemants costs re £4,649 12022. £4,336) Ind Olhor swip)rt ¢¢¥i$ wwe £33.20412022." £29,4861. As a resull. lor the year Énded 30 June 2023 there was a nÉt expndilure of £57,2%012022. £45,2641 b¥lore aLtountinJ for the unrealised gains on the rewdlualron of invesifflenls of £99.221 12022 £121.032 b$so$1 Al 30th June 2023 tht ¢h•nV¥ total funds had Increased lo £2,266.969 12022. t2.224,9581. of which £885.738 12022.. £845.5) ire restn¢ted. Tht charivs unreslricled lund3 01 £1.381,231 12022." £1.379,103} yre a150 equal lo the charity'5 free ServeS R4soNo poIi¢y The Iruste•s I11 maintain adAquale fr6• ièsaNes to meot ONJoiny gtani8 for fivt ye¥r5 and ill expgGt to tne&l these grant5 from Income genefdled at first wlhin the year they are The Iru8tee$ ¢on$thi Ihal the prosent bv61 of re$$tvas is salislaclory. Donations The Iwslees w)uld like io thank most warmly all Ih)5e who help the ¢harily with dstn$ and 9•¢8. Thoy are p8rtthl•rty 01VI ioihe Daniell family havt beert IDyal SUPPDrter5 for many year5. Approved by the Irusieès and signed OD their behf by" Tm$lee Approv8d by iho IDJ$IO&S On..
THE 1930 FLIND FOR OISTRICT NIJRSES INOEPEMDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE 1930 FUND FOR DISTRICT NURSES I report lo the charity IS]ee8 my examinalron of the aGcounis of the charity forlhe year 30 Jvnt 2023. R•8pon81bllitl8$ #nd ba$lB ol r•port As the trust&ès of the Charity arè rnsponsibkg fr>r the prBparali(ATr of Ihe accounts in aGcordance Wlh the fequwmen15 of the ChaniigsAcl 2011 I'lhe Acl'l. l ¢port In reswct of my examination ol chanlls accounts Carried ovt der seCtn 14S of Ihe 2011 Acl aThY in Garrying out rny ex¥ninalion I have follod all the applicable rec110nS 9ivw by the Charty commissiL under sectn 145(5llbl Of the Act. Independerbt exami& Staternet I have completed my eY3mallon I confimi Ihal rbo material malterg have corne to my attention n conmct %%ith exarninalion giving me cause lo Wieve that in any material respect. • aOuntIng re¢ord$ not kept in respèct ofthtr as by wllon 130 oftrkl'. or the accounts do not accord valh Ih05e reco, or the 8¢¢ount¥ do not comply th the aprdicab reqr•entS ¢on¢emlng thè form and conlenl of accounts sel out In the Charities IA¢wunis and Reports) R¢gulali¢n$ 2008 other Ihan any re(wiremenl that the acGoun15 give a'lrue And fair View vthich 15 not a matterconsidered as part of an independent examinat. I have no E¢n¢erns ano have come a¢r¢¥$ rx) Other matters in ¢¢nne¢iion Y471h Ihe examina0 lowhith attention strjuld be drawn in this report ord¥ lo ernable a proper understandin9 of the accounts io be reached. Signed.. Jamo$ G8ro FCA DChA Moahan$ Chartered OUntants County Ga County Way Tro¢knridge ShÈ. BA14 7FJ 25 March 2024
THE 1930 FUND FOR DisTrieT tr•JRSES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023 No 1 Fund Restricted Endowrnpnt Funds No 2 Fund Unrostri¢t•d Fund5 Total 2023 Total 2022 Not• INC ME FROM.. OunaiiDn5 and IFBKitss S.374 5,374 S.743 27.271 42.953 70.224 63,099 Totsi iii¢¢m• 27,271 .327 75,598 68,842 EXPENDITURE ON., eh&riiable acli¥rti•s 27.271 t.537 132.808 114,106 Total exynditure 27,271 105,537 132,8Dll 114,106 Net lexpenditurel lor the year bOr& Itw4$tmont galn8 ISY,21Ql IS7,2101 145.2641 Not gainslllos$•sl on InvostM•nts 39.883 59.338 95,221 1121.0321 N•t In¢onwioxportditurn 39.883 2.128 42,011 1166,2961 39,883 2,11 42,011 1166,296} R•conelllatiory of Nat movémért ol funds BalAnce brou9hl fomard a11 July 845.855 1.379.109 2.224.958 2.391.254 Balance cath•d torward at 30 Juno 88S.738 1.381,231 2,266,969 2.2Z4,958 NTIN The re$utts fDrlhe yf8r and IhB previous year as sel oul atr¥)ve have been derived entilY from Conbnuing OPW81ion$ TOTAL R Nl ED AN TheB are no iecoynised gains >r 108883 OtrIhan Ihose passing through the Statement of Finanal Acltvilies. Th& notes on p8ge$ 10 10 78 Iom p8rt of thesa finantyal $taigrn8nts.
TrIE 1930 FUNO FOR DISTRICT NURSES BALANCE SHEET AS AT 30 JUNE 2023 No 1 Fund RestrScled Endo*Tnent Funds 2023 No 2 Fun¢J Unreslilcted Funds 2023 Totsl Total Noto 2023 2022 Quoted as5els 885.73 1.261,432 2.147.17D 2.147.949 88S,738 1.261,432 2,147.170 2.147,949 Prepaym1$ C8sh al bank and In hand 55 92,472 134,902 134.902 Crtrdltars.. Amounts fÈllln Credrtor5 4¢nJ81$ IY.1071 15,9961 18,8651 16,6531 15,9961 119,799 119,799 77.009 88S.738 1,381,231 2,266,969 2,224,958 R• Sented b Fund accounts. 845.855 39.883 1.379,103 2,128 2.224,958 2,391.2Y {168.2961 N81 movomeni in fvnd$ 885,73ll 1,381,231 2,266,969 2.224,954 The notes on pages 10 to 16 form port ofthes8 farria1 stsièm8rts. Approved by the commiilee on and Signed on 115 bBhalf by.. TRUSTEES
ThE 1930 FUND FOR DISTRICT NURSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 e10 Th• Fnd The Fund wa5 inaugurated In 1930 for the benelil of Ol¥1r NUTh by a gift of £100,000 from the 18le Mr. Emesl Cwk This ar31 knnd. nové known ¥$ the No.1 Fund. is a reslricled endLent lund, In that il is re51ncled 50 thal Il can apply only lis inccrfne to the th und8rt8ken. Thg afflount ol No.1 Fund COn5equertly equal lo the caillal investments repr9sl•d Ihsreby 813D Juntr 2023. In 1974, tho incomè fram tho No l Fund bt¢amt insuffKient lo maei the needs ol benefian$S 8nd. In order to SUPFlemeni the Ivnds av8118bk ar 10 broadan the of the Fund. a No 2 Fund was forrn from further gifts ceiVed frorn donors. The No 2 fund 1$ uNestn¢i¥d and b¢ih in¢(yne atwj Gaylal can be applied lo hdp beneficianes. The fina81 Stalem19 are drawn up lo distinguish bel the acbvibes ol the No l Fund Ir8$ld¢WI and Ihe No 2 Fund lunresinciedl. 21 The princip accounting polKvès adopted, iudo2ments and key 8ouice¥ of eslim¥iiun unGertaioly in the prBPW8tioD Of the 8¢counls are laid out below. 11 B4¥r6 of FpIr•tIo Th•5e $1¥18monis have b8en prepared forthe year to 30 Jun• 2023. The fjTrancial slalements have been prepared under the hi$ion¢al cost v•tIon V•ilh rtems recognmd al ¢OSl Dr trafis¥clv)n value unless 01se staled In Ihe levan1 •¢UntIng pdi)0$ b8low yr ihe notes lo IhBSe financial 8lal8tneTrts The finèrtkql stakemenig have been prepared lo gwe a Irue and fair wew and have dep8n8d ffom Ihe Charities (AcCnIS and Reports} Regulation$ 20Ua ¢nly lo the eenl required lo provhle a 'iru8 and lair ¥iev/ This depadure has involved following Ihe Accouniino Rep¢rtin9 by Chaiilies Sialemenl ol R8mtnrnBndètt Pr?clte applicable lo charities preparing Ih&ir accoun15 in 8¢¢ord¥n¢o wlh Ihtr Financial Reponing siandaro appli¢abl$ in the UK and Republic of Ireland (FR$ 1021 Issved In Q¢t¢ber 2019 raihtr than iho A¢¢ouniing and Rewing by Charilie¥. Slalernenl of ReMmmende& PraCte eHe¢iNe tr¢m l Apnl 2005 Y¢hich has Since been trAlhdraY The charity consliluies i public benefit entity Bs de[e4 by FRS 102. The financial statements are pSend In $ierliny and artr rounded ID the neare51 pound. ill Citti¢al a¢¢oonting 08timat•8 and are?¥ of judgement P(tP¥81ion of Iht fin8n¢o1 siaièm8fils requires the Iruslees lo make siwiftanljudgérnoDi$ and 95t¥Tk3tes. The 518$$ do not con8Jdw th81 thera ar• any $OUfces of eslimalvJn uncertainty or any judy8ments made In lh¢ preparatson ol the finanty81 siaiemtnts. l¢i)As5e¥sm•nt of golng Concern The trustees have assessed tha uae of tho cce a55urnpbon Is apprcpriAtg In proparing these financial slalements The irustees havè m*e Ihis assessment in resp8cI io a period of one from the dale of apwoval of these financial slatem£nis The IN$tee$ of the ¢harity have Condled that there are no rnater1 uncertginlies lated 10 $¥15 conditions Ihat may cast Si9nifi¢aTrt doubt Dn thè &bilily of the charity to continue as a goiro conc&rn. and Ihe Iruslees are of the opinion Ihal the chanly V•ill havè $uffi¢i6nl r¢source5 to meet ils Iiabililies a5 fall due. With regard lo the next acccuntin9 period. the yèar trndlng 30 Juntr 2024. Ihe m061 s1can1 areas that affed the catrying value of the assets held by tha charity are the level of investment r¢iurn 3nd the PorfDrmaD¢e of the Investment mafkels (Bee the Investment polKy and Ihg ri$k rn•na9emeni sectw)ns of Ihe Inistee$' pOrt fr>r more InlorrDalionl.
THE 1930 FUND FOR DISTRICT NLIRSES NOTES TO THE FINANAL STATEME14TS (cont1noI FOR THE YEAR ENDED 30 JUNE 2023 6vl Income recognlllon Income IS cOgnised in the perioj in Ihe chaDly has enlitlemoN 10 th8 in¢w. Ihe 8mounl of Mcome ¢sn be measu fehably aDd il is probabb Ib in¢(n8 V11 ts r£cbriod. Income Is dèl8rrsd only thè charity has lo fLJIfiI conditions belore becomin9 entit lo il or wh8ro tho donor has speuftsd that tha income Is to be èxpended In a frjlurg pellod. Income comprise5 donations and legacie5, investment incurne and inttri¥si re¢8w8b Donati¥ ar• re¢oJnisad then the ¢h•iity ha$ ¢onfinyo1 of both the amount and settlefflent dale. In th $vent of d¢nalh)n$ pde bul not received. Ihe amount 18 accrued for ere the rec4ipt mi8idred pnb8ble. In Ihe ev1 that a donalron is subjecl lo conditn$ that require a level of perf(Nrn¥Dce b¢fortr the chanly 15 eDlilled lo Ihe fund5, the income Is defetred and not rewgni3ed uniil eilher those condition5 are fijlly mel, orlhe lfIlMent ol Ih¢St ¢QndItn$ is Nth¢IIy 1h1n thè coniffjl of the chariiy and il is probable Ihal those ¢¢naibons be hjlfillod in the forthn9 p•riod. Ltyacies are induded In the stAlernenl of financial acliwlie5 vthen the chatity is eniilled 10 Iho ?8¢Y. the executors hav8 established Ihal there are 5uffiGienl Sutplus a$s8ts in tho t8ts1O to pay the logacy. and any conditions atthed to ihe leo¥¢y Sbin the trol of the ¢hanty Entlement Is taken a5 the eier of the on vthi¢h either ihe ¢h8dly Is aware that wcbale has been graDl8d. tit 8stats has been fiTh8ts8d aDd noiifi¢aii¢n ha$ bon m8de by thè gxbculor io Ihe chanly that a distnbubon vall btr made, orNthtn a di$inbulp)n 1$ re¢$ive¢ from ¢siale. Recèipt ol a legaGy. in whole or In part. Ks only considered probab when Ihe amount can be fflea5ured reliabty and the th8niy has been notified ol the execulorf5 inlenlion lo make a disitibulv)n. Where 9acleS hav8 been notthEd to the ¢harily. or Ihe chanly 15 awdie of the gfanling of probate. bul the ¢nieri8 for income reCnitIon have nol been mel, then the legacy is Irt8tsd as a conlingenl a5¥Pt disdosèd Il matèftal. In the event Ihal the gift is in the foim ol a 8$sei other Ihan ¢ash or a finan¢lal a$aet traded on a recognised slock exchange. recognilv)D 1$ subj9d 10 the value of the gift bein9 reliabty rned6urab %%ith a degree ol reasoDat4t ac¢ura¢y •nd Ihe lillé of tha asset hav1ng beiw Irdnsferrad lo the challty. Dlvidends ar8 rAcognlgèd once the dlwdand has been declared and nobficaiion has been r•¢8lved of the divKlgnd Interest on lundts on deposit is induded rewvable and the arnount cAn be measurèd relly by the th8fily. Ihi$ L8 n£mi8lly upon rw)iif¢$iion of the Intere51 paid or payable by the bank. vl Expendlture recoynluon Li31111eS are recognised a5 eApeDdilure a5 %>on as Ihew 18g or ¢on$lructiYe obligation commilling the group or charity lo a payment lo a ihird paty, 11 is probablè that a transfer of econornK benefits %%ill bè faouired In $8tt1on)eni and the amount of Ihe Qbligauon can be measured reliably. All elwltUre is aLuunled for on an awruals b8sK% indudes atIribUtab VAT cannot be recove Expendrture ¢omprise$ direct wsls supwrt C0515. All expenses. indLKliw supwt c¢$ts. are allocaied lo the aPrleabl e%pendilure heading. Expenditure on chaFitable a1ville$ c>)mprises grants P8y8ty& to nurs84 the cosl oy Ihg Tglephone Befnending Service and alk)caiad support to$is GRnis payable are In¢d In the state[Tht of fin8n¢AI actlI1S approved ènd whèn tho intended pieni h$$ erfhw re¢6wed Ihe fur$ or been informed ol tr deCvJn lo Thake Ihe 4r8nl and has 88U$fied 811 related ¢ondlin$.
THE 19Y> FUP4D FOR OISTRICT NIJRSES NOTES TO THE FINANCIAL STATEMENT$ l¢ontinuodl FOR ThE YEAR ENDED 30 JUNE 2023 Pa e12 vil Allocation of supportand 9ovornan¢e ¢Dtsts Support Costs represent indir•¢i ¢hariiatyi¢ &Npenttilurè. In ordpr lo carry out the primary purposes of tho harily il Is necessary to Wovide $upport In the of fin8n¢ial and yov8rDanGe edures. provision of offi¢t serv¢es and equipment and a SUil8tye w¢thng tyI¥irorern1 Gov8rnan¢& ¢osts ¢otllPD5e all costs relating 10 Ihe public 8¢¢oJntabilty Of tne ¢h#rily arA its Complian re4ulion good prac11 These ¢o$l$ include ¢osi$ felaiiny to Iht independent examination of the financial $i$ietnenls and legal fee5 Support Costs and 9o¥emanco co$ts ar8 •lo¢•ted 10 lh6 ¢harity'& single Gharitable activny. ¥lil Investrnents Lisled investments are a form of basic fin•rtiai instrument and are Initially recognisod ai their ir&}$•1¢n valuè and 5ubsegu2ntly meo9ured al Ihoir fair Val a$ ai ihe W8n¢e shaol dats U9 Ihg dosing quoted market prjct. The tharrty Ooes atywire pul options. denvalives orothercornplex finanty81 In$irumenl¥. As noted above thÈ main form of finarrial n5k fa by the charity IS Ihat of volatility in equity markets arwj invesimenl markets duè gcorLomic conditions, th& allilude ol Investor5 to V$$b0Thl nsk. and 4nges In sentim1 con¢gmlry e(wttie$ and wlhin p8rti1a[ S10r5 or sub sectors. ReEj1s gains lor losse$l un iTrve&lmeDI a¥sels ale Galculaled as Ihe difterence berw88n disposal pm¢oed$ d ther opening carrwng value Dr their pur¢hast value Is awuKed subsequent lo the firsi day of thè finanei81 year. Unrealised gains aTht105sos arg cal131d as th£ diffsr&n¢e b¥t%4F&D the fairvalue at the year and Iheir Carrying value al that date Realised and UreI58d Invesbnenk gains (or losses) are combjned In stai•meni of fin8Thal 8¢lwilies and are credpied lordebiiedl in Ihe year in Ihtry anse. Olherinve51ments ¥e Includ ai ¢D$t, jsconwd2red lo b8 approximate lo Iheir market value. vliil DpbttsrA ogblors are recogn15ed at their settiernont amounL 16$8 any prov16K)n for n-[eVerablty. Prgpaymenls are v4ued ai tre afflount prepaid Thoy havt been di$L¥)unt 1¢ thè pr85enl value ol ihe futu cash ceipt ere such di$¢ouniing 1$ material ix} Cash at bank and In hand Cash at bank and In hand represents such a¢¢ovni¥ 8nd Instruments that are 8vailable on dernand or have a m8iunty ol Its$th¥n three mofilhs from date of acquisibon x} Creditors and provssions Creditor5 provi&ons are recognised Ihere 15 an Olgation at the balarKe sheet date a$ a $11 of a past evelll. il 15 probable thal a transfer ol e¢OWm benafil *ill be iequired ID 5etllemenl. and the amount of tht $8lllemeni be eslimaled Rliabty. Crèdiiors and PFOwsions arè retyJgnised al the amoulll the charty anlicipatbs it 111 pay 10 Settl¢ Ihg debt. Thpy have been di%>Junted to the prasenl valu8 Of the fvIufO Cash payment Whe such discounting 15 malenal. xil Fund aetounUThu Rtslrided funds are monies raised for, and their u9ed resicthd to, a $pe¢ifi¢ purpo, or donalK)f55 subjecl lo dowr Imwsed condikn5 unre5iricd funds reprBS1 thos8 m188 thai are freely availble for aprAicatson toKerfs 8¢hievifvJ any chanlable purwso that 1811 Y471fMn the ¢h8niy's charrtabK9 objects. xill statement ol cash flows The fiDatbGial slalemenls do not indu¢)e a giaiemeni ol ¢8sh IIM because the charily 15 exernpt from the rffquiremenl lo prepare SLKh a slalemenl under the Charities SORP FRS 102
ThE 1930 FUND FOR DISTRICT NURSES NOTES TO TME FINANCIAL STATEMENTS Icontinu•dl FOR THE YEAR ENDED 30 JUNE 2023 e13 2Q23 2022 Unre8tri¢ted fw¢ts Legacy Mwh Lovgd doMIiDn- IMO Vikki Rtid Art in the Barn Danièll dDnabon Much Lovod donation- IMO Oonald T8•1 IMO Emrno Wnghl's mothor Much Lovod donaiiort- IMO Donald Tea Sir Peter Daniell Chanty Twgt JustGiving IMO S Greert¥%ood IMO Karen Gnrnshaw MO John Toppiny IMO Agnes Jones All Miscellaneous under £250 520 500 417 406 303 300 264 300 1.SOO 598 375 1,652 Totsl 5.374 9,743 41 Irwestmgnt Incorne 2023 2023 2023 2022 Rostrlct•d EThdowTreTrt Funds UnrKlrictsd Fun No.1 Fund Ouoled In¥e3lments 27.271 27.271 24,811 No.2 Fund Quoted investments 42.059 42.039 38,281 Intere51 Incorne 914 914 Total 2023 27.271 42,953 TO.224 63,099 Tow 2022 24.811 38,288 63,099
THE 1930 FUND FOR DISTRfcT NURSES NOTES TO THE FINANCIAL STATEMENTS (continuedl FOR ThE YEAR ENDED 30 JUNE 2023 &14 $1 An•1 sls of ox Itur• No.1 Fund 2023 No.2 Fund 2023 Total 2023 Totsl 1022 charltablé •¢fjvities GniS Telephone eefnending Service 27.271 88,420 1.264 93,691 1.264 94.955 79.764 520 80,284 27.271 Support ¢ost$ Admini$iralion IT Support Travel and eetingS Prinliw. post stalionBry Bank charges Mi$¢ellaneous Telephone 31.078 326 769 622 374 JS 31,078 326 769 622 374 35 27.218 685 586 643 319 35 33,204 33,204 29.486 Gov&man¢• IndendnI examin¢rfee Adminislralio A¢¢ounlancy MeebfKJ ewense$ 1.800 1,649 1.200 1.800 1.649 1,200 1,680 1.456 1,200 4,649 4.649 4,336 Yotsl Expenditure 2023 27,271 105,537 132,808 114.106 Total 2022 Z4,811 89,295 61 Staff costs and romun•rat'on of ke man• èmè f8onnel The chanly émployed no m8mb&rs of staff dunng the p0d. The admini51rabts) and financial managernent of the ol chAriiy 1$ ou150ur¢d lo The fru$1 Partnership. The Iruslee5 caysider Ihal thèy rnpSe the key managtrmenl ol IhB chariiy In charge of dirèolg and conlrollinu, iunDing and op&rabng tho ¢harily on a day lo dAy b8515 The Iw$iees rKeived no rèmunèra11( in onnectson lIh their dul$. N•t (wemonl in f 2023 2022 Thi$ 51aled after ¢hargirs". Independent examin8tv)n fee 1.800 1,680 ent to tru No Iruslee or any por50n Conntrcted wlh them have received or are due to ro¢8ive any remuneration In respè¢i ol thèir se08 a5 a Iruslee in Ihe Year, 12022- Enill No ITuslee r8ceiVOd reirnbursemeni of aomiDislralive expenses 12022 £nill incurred in Ihe ptrfoman¢e of th•r dut5.
THE 1930 FUND FOR DISTrICT NURSES NOTES TO THE FINANCIAL STATEMENTS {contrnu•d) FOR THE YEAR ENDEO 30 JUNE 2023 Pa 91 ot¢d inve No.1 Fund 2023 ND.2 Fund 2023 Total 2023 Totsl 2022 Market valu6 ai $¢artol flnwty81 yo&r Additions at market valu Disposal$ 81 mathei v81ue Realised and vnre8li$ed g0inllb)$51 in the ysar Mark•t valvtr at Ortd of flnan¢lal yoar 845.855 716.933 I.302.4 2.147,949 1,004.n7 1.721,670 11,104.7371 {1.821.8701 59,338 99.221 2.268,981 88S,738 1,261,432 2.147,170 2,14T,949 rhe funds are cornprised as lollows.. 2023 Maiket valuo 2023 lth¢omo No.1 Fund Bl8¢*Ro¢k Ch8niie$ UK Bond Fun¢ Blad(Rock CharilL8S UK Equity ESG Fund 5,064 19.318 CCLA CQIF Chanlie5 ElhK81 Investment Fund 722,936 Rufter Charily Assets Trust Income Units 182.802 2.889 885.738 27,271 No.2 Fwd BlackRock Charitie3 UK Bond Fund BlaGkRock Chariti88 UK Equity ESG Fund 8.114 29,520 CCLACOIF Chanlie5 ElhKal Invgslment Fund 1.013.150 Ruffgr ChatrfyA$$eis Trust Incomo Units 248.282 4.405 1261.432 42,039
THE 1930 FUND FOR DISTRICT NURSES NOTES TO THE FINANCIAL STATEMENTS Icontlnu• FOR THE YEAR ENDED 3Q JUNE 2023 b16 101 Com ra Ivè Bgl hept 30 June 2022 Mo 1 FuThd Regtrlct•d En¢Jowmfjnt Funds 2022 140 2 Fund Unr•gtrict8d Funds 2022 Total 2022 Quoted a$sels 845.8S5 1.302.094 2.147,949 B49,O55 1,302,094 2.147,949 nt •$sets Pr8paymenis Cash al bank and In hrt ss 92,472 92.472 s.. Amounts falli du• eredilor5 Awwals 18.8651 16,6531 le,6531 N•t curr•ni ass•ts 77,008 77,009 Not assets 845 8S5 1379 103 2 224 958 re Fund aecounis. 893.056 147,2071 1,498,198 2.391,254 1166.2WI Nel movement In lunés At 30 J¥n• 2022 1 379 103 2 224 958