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2022-03-31-accounts

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:05 DATASET 31 March 2022

Charity number: 209182

The Friends Of Hammersmith Hospital

Trustees' report and financial statements

for the year ended 31 March 2022

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:05 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Contents

Page
Legal and administrative information 1
Trustees annual report 2 - 6
Independent examiners' report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 16

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:05 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Legal and administrative information

Charity registration number 209182
Business address Hammersmith Hospital
Du Cane Road
London
W12 0HS
Registered office Hammersmith Hospital
Du Cane Road
London
W12 0HS
Patron Professor Lord Winston
D.Sc., FMedSci., F.R.C.O.G., F.R.C.P.
President Professor P. Punjabi F.C.C.P.
Vice- presidents Professor V Papalois F.R.C.P.
Professor C Fotopoulou
Chair Miss. A Smith
Executive committee Mrs. H. Grewal
Mrs. G. Hunt (retired 2021)
Mrs. M. Kearney
Ms. H. Melmoth (retired 2021)
Mrs. D. Oldfield
Ms. S.Pavlik
Ms.J. Sweid OBE
Mrs.K. Taylor- FREI (retired 2021)
Vicar J Westall (appointed 2022)
Administrator Mrs. U.Jefferies
Emeritus president Professor K. M. Taylor F.R.C.S.
Accountants Leftley Rowe and Company
Second Floor
87 Kenton Road
Harrow
Middlesex
HA3 0AH
Bankers National Westminster Bank Plc
1 Abbey Road
London
NW10 7RA

Page 1

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:05 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Report of the Trustees for the year ended 31 March 2022

The Trustees present their report and the financial statements for the year ended 31 March 2022. The Trustees who served during the year and up to the date of this report are set out on page 1.

Charitable objects

The aims of the charity are to meet any requests for funding received from Hammersmith Hospital that are not likely to be funded through the NHS. This includes equipment for research, requests for equipment beneficial to patients and staff, and items to improve patient and staff amenities.

Structure, governance and management

Organisational structure

The charity is an association affiliated to Attend (formerly the National Association of Hospital and Community Friends). Its governing body is the Executive Committee which consists of a President, two Vice Presidents and ten members. There is also a Patron, and one salaried full-time Administrator who is supported by a group of 18 volunteers.

Aside from the President, the Committee members are elected annually and stand down after three years but are eligible for re-election, with the exception of the retiring Chairman who shall be an ex-officio member of the Executive Committee for one year. The Chairman and Vice Chairman are elected at the first Executive Committee meeting after the Annual General Meeting and can serve for three years .

The Committee meets approximately six times a year but the members are always in close contact, as many of them work as volunteers in the shop at least once a week or more. Extra meetings can be called when necessary.

Governance and internal control

The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

Nature of the governing document

When the Friends of Hammersmith Hospital was founded in 1950 a set of 14 rules were set up. These rules are still adhered to today. A book of rules is available from our office.

Page 2

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:05 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Report of the Trustees for the year ended 31 March 2022

Risk management

The Trustees have a risk management strategy, which is reviewed annually to discuss any risks the charity may face. This procedure is to minimise any risk and to identify and implement new procedures to lessen any potential impact on the charity.

Following numerous spates of theft from our shops, the Trustees felt it necessary to install CCTV in our main gift shop, which has minimized our losses and proven to be a valuable asset to both our volunteers and our stock.

With the numerous charities looking for support and the current economic climate we are having an impact on our fund raising, it was necessary to raise our profile and improve awareness of the activities of the Friends. We are currently joining more social media platforms to enable us to reach a wider audience. Our website www.friendsofhammersmithhospital.org.uk has increased activity and enabled our supporters to donate directly via a link to justgiving.com.

Other ways to donate and give support to the Friends are through Just Giving , (link on our website), the Charities Aid Foundation (CAF), Love2Donate, Give as you Live, Paypal giving fund and Charities Trust. Members shopping through Amazon Smile can link their purchases to the Friends and a percentage of the sales will be awarded to the Friends.

Concerns regarding our ageing members and the members of the Executive Committee continue to be an area on which the Trustees have agreed needs to be addressed. Also the problem of recruiting new volunteers became a big issue in the last few years. To combat the issue of recruiting younger volunteers we are now working more closely with the Imperial Healthcare Voluntary Services who have introduced a Youth Volunteering Programme, 16 -21 year olds, to help all charities involved with the Imperial Healthcare Trust. These volunteers are needed to secure the future activities of the Friends.

Employment policy

New Trustees are appointed from members of the Friends of Hammersmith Hospital.

Page 3

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:05 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Report of the Trustees for the year ended 31 March 2022

Review of activities and achievements

We are entirely self supporting and the charity is adequately funded for the foreseeable future and able to meet whatever requests the Trustees feel suitable for our support.

Our income comes from membership fees, donations, legacies and goods sold in our shops. We sell a large range of goods in our gift shop, charity sale room and we also have a flower shop.

Apart from the normal requests, we also adopt a special Annual Project and money is raised specifically for this item. Due to Covid 19 restrictions we were unable to arrange a project this year but hope to reinstate the award as soon as we receive some applications .

The Annual Project is usually funded by goods donated for sale, monetary donations, book sales and by holding sales in our charity sales room. We also allocate the proceeds from the Grand Raffle which usually takes place in November but due to Covid 19 was also cancelled last year.

Summary of the projects funded as shown in note 6 of the accounts during the year were: None

Unfortunately as no grant applications were received throughout this year, due to the immense work load of the Doctors and Clinicians, we were unable to support any projects.

We hope to remedy that this year by promoting our services to the hospital internally by department and invite applications for awards.

Annual Project - There was no Annual Project this year.

All of our fundraising depends on the help from our many volunteers. On a daily basis there are usually at least two volunteers in our gift shop, two in our flower shop and usually two at our second hand salesroom, which opens three mornings a week. Since March 17th 2020 the Imperial College Healthcare NHS Trust have not permitted any Friends' volunteers on site, until September 2021 when we had two volunteers return. We currently have five volunteers returned and one new volunteer. Sadly due to age and restrictions many of our twenty two previous volunteers felt they were unable to return to duties.

This year unfortunately due to lack of volunteers we have not been able to hold our Derby Draw and Grand Raffle, which raise money for general funds. Hopefully next year, we will conduct these as usual, with all members being circulated three times a year and the tickets for the Derby Draw and the Grand Raffle being sent out with our appeal letters and information updates.

The Annual Report will be sent out in July with the Annual General Meeting invitation. This year the AGM will be held in the W12 Conference Centre, Hammersmith Hospital in September.

Page 4

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:05 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Report of the Trustees for the year ended 31 March 2022

Financial Review

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately three years' net unrestricted expenditure. This provides sufficient funds to cover management, administration and support costs. Unrestricted funds were maintained at this level throughout the year. The level of unrestricted funds is £556,649 (2021: £537,566,).

The level of restricted funds is £101,795 (2021: £96,241) this relates to a large legacy received in 2008 in the name of Miss Maureen Miles. Under the terms of the bequest this fund is restricted for use in the Cardiology Department and Cardiac Surgery. The Trustees continue to consider the most effective application of these funds, and award them accordingly.

Investment powers, policy and performance

Under the rules of the Friends of Hammersmith Hospital, the charity has the power to invest in any way the Trustees wish.

Segregation of assets

The main body of income is held in our investment fund, Close Brothers Asset Management. The Friends have four portfolios invested within Close Brothers. Firstly our general fund account and secondly a restricted fund, The Maureen Miles fund, which is for the use of purchasing equipment for the Cardiology Department and Cardiac Surgery. We also have funds still available in a non-restricted fund which was set up in 2017 from a legacy received in memory of Terence and Jean Ridgley. In 2019 we opened a new investment arising from a legacy from Miss Margaret Bunce, an investment also placed in our Close Brothers Asset Management portfolio.

Grant making policy

All requests are put before the Executive Committee after confirmation that the NHS Trust has been approached and proof that funding is not available from them. We now have established close links with the Imperial College Healthcare Charity and are able to check with them whether applicants would also have access to funds within their departments, such as research or discretionary funds, for which they could apply instead of to the Friends of Hammersmith Hospital. If it is reported to us by the ICHC that there are departmental funds for which they could apply, then we refer the applicants to the holders of these funds before agreeing to consider funding their application. If approval is given, funds are made available immediately. In other cases, the applicant is invited to put their case personally to the Committee, prior to a funding decision being made.

Page 5

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:06 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Report of the Trustees for the year ended 31 March 2022

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with section 130 of the Charities Act 2011.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.

This report was approved by the Trustees on 15th September 2022 and signed on its behalf by:

A Smith (Chair) J Sweid (Trustee)

Page 6

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:06 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Independent examiner's report to the Trustees on the unaudited financial statements of The Friends Of Hammersmith Hospital.

I report to the charity trustees on my examination of the financial statements of The Friends Of Hammersmith Hospital for the year ended 31 March 2022 set out on pages 8 to 16.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of The Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Christopher Andrews ACA Independent examiner

Leftley Rowe and Company Chartered Accountants and Statutory Auditors

Second Floor 87 Kenton Road Harrow Middlesex HA3 0AH

15th September 2022

Page 7

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:06 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Statement of financial activities

For the year ended 31 March 2022

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from:
Donations and legacies
2
22,034
-
Charitable activities
3
7,551
3,508
Income from investments
4
7,682
1,399
Other incoming resources
5
1,084
-
Total income
38,351
4,907
Expenditure on:
Raising funds
Cost of goods sold and other costs
6
269
-
Expenditure on charitable activities
7, 8
)
(1,419
-
Support costs
9
69,235
2,446
Total expenditure
68,085
2,446
Net income/(expenditure) before transfers
and gains and losses on investments
)
(29,734
2,461
Transfer between funds
-
)
(3,508
Transfer between funds
3,508
-
Movement in market value of investment portfolio
45,309
6,601
Net movement in funds
19,083
5,554
Reconciliation of funds:
Total funds brought forward
537,566
96,241
Total funds carried forward
556,649
101,795		 2022
Total
£
22,034
11,059
9,081
1,084
43,258
269
)
(1,419
71,681
70,531
)
(27,273
)
(3,508
3,508
51,910
24,637
633,807
658,444		 2021
Total
£
32,738
7,896
10,303
10,000
60,937
5,229
19,544
72,470
97,243
)
(36,306
)
(18,140
18,140
118,152
81,846
551,961
633,807

The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.

All of the above amounts relate to continuing activities.

The notes on pages 10 to 16 form an integral part of these financial statements.

Page 8

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:06 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Balance sheet as at 31 March 2022

Notes
Fixed assets
Tangible fixed assets
12
Fixed asset investments
13
Current assets
Stock
Debtors
14
Bank and cash
Creditors: amounts falling
due within one year
15
Net current assets
Net assets
Funds
16
Restricted income funds
Unrestricted income funds
Total funds		 2022
£
£
-
615,815
615,815
5,234
877
72,337
78,448
)
(35,819
42,629
658,444
101,795
556,649
658,444		 2021
£
£
231
620,369
620,600
5,504
1,230
25,057
31,791
)
(18,584
13,207
633,807
96,241
537,566
633,807		 2021
£
£
231
620,369
620,600
5,504
1,230
25,057
31,791
)
(18,584
13,207
633,807
96,241
537,566
633,807
620,600
13,207
633,807
96,241
537,566
633,807

The financial statements were approved by the Trustees on 15th September 2022 and signed on its behalf by

.......................................

A. Smith (Chair)

.......................................

J. Sweid (Trustee)

The notes on pages 10 to 16 form an integral part of these financial statements.

Page 9

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:06 DATASET 31 March 2022 The Friends Of Hammersmith Hospital

Notes to the financial statements for the year ended 31 March 2022

1. Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.

1.1. Basis of preparation

The financial statements have been prepared in accordance with Accounting and reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Friends Of Hammersmith Hospital 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 note(s).

The trustees consider that there are no material uncertainities about the Trust's ability to continue as a going concern.

1.2. Cashflow

The charity has taken advantage of the exemption from the requirement to produce a cashflow statement because it is a small charity.

1.3. Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Donations and legacies income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not been included.

Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.

Income from the charity shop is included in the year in which it is receivable.

Income from investments is included in the year in which it is receivable.

Legacies are included when the charity is advised by the personal representative of an estate that payment will be made or property transferred and the amount involved can be quantified.

Subscriptions are included in the year in which they are received.

Page 10

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:06 DATASET 31 March 2022 The Friends Of Hammersmith Hospital

Notes to the financial statements for the year ended 31 March 2022

1.4. Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Resources expended are recognised in the year in which they are incurred.

Fund raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

1.5. Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

1.6. Investments

Investments held as fixed assets are revalued at mid-market value at the balance sheet date and the gain or loss taken to the statement of financial activities.

1.7. Stock

Stock is valued at the lower of cost and net realisable value.

2. Donations and legacies

Unrestricted
funds
£
Donations
13,004
Legacies
9,000
Subscriptions
30
22,034		 2022
Total
£
13,004
9,000
30
22,034		 2021
Total
£
15,430
17,178
130
32,738

3. Charitable activities

Charitable activities
Unrestricted
Restricted
funds
funds
£
£
Shop income
2,197
-
Annual project
5,354
3,508
7,551
3,508		 2022
Total
£
2,197
8,862
11,059		 2021
Total
£
5,373
2,523
7,896

Page 11

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:07 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Notes to the financial statements for the year ended 31 March 2022

4. Income from investments
Unrestricted Restricted 2022 2021
funds funds Total Total
£ £ £ £
Income from interest and UK listed investments 7,682 1,399 9,081 10,303
7,682 1,399 9,081 10,303
5. Other incoming resources
Unrestricted 2022 2021
funds Total Total
£ £ £
Covid-19 support grant - - 10,000
Banking receipt 1,084 1,084 -
1,084 1,084 10,000
6. Fundraising trading
Unrestricted 2022 2021
funds Total Total
£ £ £
Shop costs 269 269 5,229
269 269 5,229
7. Expenditure on charitable activities - by fund type
Unrestricted 2022 2021
funds Total Total
£ £ £
Annual Project - - -
Endoscopic vein harvesting kits - - 13,125
Contribution towards Hypoxic chamber - - 5,000
Solenoid valve switch and computer (1419) )
(1,419		 1,419
workstation
(1419) )
(1,419		 19,544

Page 12

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:07 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Notes to the financial statements for the year ended 31 March 2022

8. Expenditure on charitable activities - by activity

Annual Project
Endoscopic vein harvesting kits
Contribution towards Hypoxic chamber
Solenoid valve switch and computer
workstation		 2022
Total
£
-
-
-
(1419)
)
(1,419		 2021
Total
£
-
13,125
5,000
1,419
19,544

9. Analysis of support costs

Unrestricted
Restricted
funds
funds
£
£
NHS recharges (including staff costs)
57,902
-
Insurance
645
-
Accountancy and bookkeeping fees
1,704
-
Legal and professional fees
6,302
2,446
Sundry expenses
1,114
-
Printing, postage and stationery
780
-
Depreciation
231
-
Bank charges
557
-
69,235
2,446		 2022
Total
£
57,902
645
1,704
8,748
1,114
780
231
557
71,681		 2021
Total
£
59,947
614
1,988
8,071
746
575
58
471
72,470

Page 13

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:07 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Notes to the financial statements for the year ended 31 March 2022

10. Employees

Employment costs 2022 2021
£ £
NHS recharges (including wages and salaries) 57,902 59,947

A salary has been paid to one employee during the year by the NHS (2021: one) and the Friends of Hammersmith Hospital pay a monthly charge to the NHS trust.

No salaries or wages have been paid to the trustees during the year.

Number of employees

The average monthly numbers of employees (including the Trustees) during the year, calculated on the basis of full time equivalents, was as follows:

full time equivalents, was as follows:
2022 2021
Number Number
Employee 1 1

11. Taxation

The charity's activities fall within the exemptions afforded by the provisions of Part 10 Income Tax Act 2007 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. Accordingly, there is no taxation charge in these accounts.

Fixtures,
12.
Tangible fixed assets
fittings and
equipment
£
Cost
At 1 April 2021
3,443
At 31 March 2022
3,443
Depreciation
At 1 April 2021
3,390
Charge for the year
53
At 31 March 2022
3,443
Net book values
At 31 March 2022
-
At 31 March 2021
53		 Shop
fittings
£
19,140
19,140
18,962
178
19,140
-
178		 Total
£
22,583
22,583
22,352
231
22,583
-
231

Page 14

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:08 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Notes to the financial statements for the year ended 31 March 2022

13.
Fixed asset investments
Listed
investments
£
Market value
At 1 April 2021
620,369
Movement
)
(4,554
At 31 March 2022
615,815
All fixed asset investments are held within the United Kingdom.
14.
Debtors
2022
£
Other debtors
320
Prepayments
557
877
15.
Creditors: amounts falling due
within one year
2022
£
Taxes and social security creditor
151
Accruals and deferred income
35,668
35,819
16.
Analysis of net assets between funds
Unrestricted
Restricted
funds
funds
£
£
Fund balances at 31 March 2022 as represented by:
Tangible fixed assets
-
-
Fixed asset investments
515,698
100,117
Current assets
78,448
-
Current liabilities
)
(35,819
-
558,327
100,117		 Total
£
620,369
)
(4,554
615,815
2021
£
673
557
1,230
2021
£
-
18,584
18,584
Total
funds
£
-
615,815
78,448
)
(35,819
658,444

Page 15

DRAFT FINANCIAL STATEMENTS 13 September 2022 09:28:08 DATASET 31 March 2022

The Friends Of Hammersmith Hospital

Notes to the financial statements for the year ended 31 March 2022

17. Unrestricted funds At At
01 April Incoming Outgoing 31 March
2021 resources resources Transfers Movement 2022
£ £ £ £ £ £
General fund 537,566 38,351 (68,085 ) 3,508 45,309 556,649

Purposes of unrestricted funds

The purpose of the funds are to try and meet any requests for funding received from Hammersmith Hospital staff which are not likely to be funded through the NHS.

Restricted funds
Maureen Miles Legacy
Annual project		 At
At
01 April
Incoming
Outgoing
31 March
2021
resources
resources
Transfers
Movement
2022
£
£
£
£
£
£
96,241
1,399
)
(2,446
-
6,601
101,795
-
3,508
)
(3,508
-
-
96,241
4,907
)
(2,446
)
(3,508
6,601
101,795		 At
At
01 April
Incoming
Outgoing
31 March
2021
resources
resources
Transfers
Movement
2022
£
£
£
£
£
£
96,241
1,399
)
(2,446
-
6,601
101,795
-
3,508
)
(3,508
-
-
96,241
4,907
)
(2,446
)
(3,508
6,601
101,795
101,795

18. Restricted funds

Purposes of restricted funds

Maureen Miles Legacy

The Maureen Miles Legacy fund is restricted for use in the Cardiology Department and Cardiac Surgery. The trustees are still considering the most effective application of the funds.

Annual project

The annual project aims to raise funds to finance a specific item every year. This year there was no annual project due to Covid 19 restrictions.

Page 16