Charity number: 209182
The Friends Of Hammersmith Hospital
Trustees' report and financial statements
for the year ended 31 March 2024
The Friends Of Hammersmith Hospital
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees annual report | 2 - 5 |
| Independent examiners' report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 14 |
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 |
| F.R.C.O.G., F.R.C.P. | |
| President | Professor P. Punjabi F.C.C.S. |
| Vice- presidents | Professor V Papalois F.R.C.S. |
| Chair | Miss. A Smith |
| Executive committee | Mrs. H. Grewal |
| Mrs. D. Oldfield | |
| Ms. S.Pavlik | |
| Ms.J. Sweid OBE | |
| Vicar J Westall | |
| Administrator | Mrs. U.Jefferies |
| Emeritus president | Professor K. M. Taylor F.R.C.S. |
| Accountants | Leftley Rowe & Company |
| Second Floor | |
| 87 Kenton Road | |
| Harrow | |
| Middlesex | |
| HA3 0AH | |
| Bankers | National Westminster Bank Plc |
| 1 Abbey Road | |
| London | |
| NW10 7RA |
Page 1
The Friends Of Hammersmith Hospital
Report of the Trustees for the year ended 31 March 2024
The Trustees present their report and the financial statements for the year ended 31 March 2024. 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
The Friends Of Hammersmith Hospital
Report of the Trustees for the year ended 31 March 2024
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.
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 College 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, staff and patients
Page 3
The Friends Of Hammersmith Hospital
Report of the Trustees for the year ended 31 March 2024
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.
The Annual Project is usually funded by goods donated for sale, monetary donations, book sales and by holding sales in our charity sales room.
Summary of the projects funded as shown in note 6 of the accounts during the year were:
Patient and Staff Amenties
Bereavement room refurbishment QCH - £1,823.00 Metabolic Medicine fund - £500.00 Cardiology fund - £500.00 Christmas tree for Theatres - £126.00
Annual Project 2023 - Omni Retractor for Theatres - £14,500.00
Annual Project
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 and one at our second-hand salesroom, which opens five days a week. We currently have 12 volunteers.
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 was sent out in August with the Annual General Meeting invitation. This year the AGM will be held in the W12 Conference Centre, Hammersmith Hospital on 26th September 2024.
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 at 31 March 2024 is £462,428 (2023: £451,621).
The level of restricted funds is £98,789 at 31 March 2024 (2023: £89,052); 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.
Page 4
The Friends Of Hammersmith Hospital
Report of the Trustees for the year ended 31 March 2024
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.
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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 26 September 2024 and signed on its behalf by:
A. Smith (Chair)
J. Sweid (Trustee)
Page 5
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 2024 set out on pages 7 to 14.
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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view'.
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 & Company Chartered Accountants and Statutory Auditors
Second Floor 87 Kenton Road Harrow Middlesex HA3 0AH
26 September 2024
Page 6
The Friends Of Hammersmith Hospital
Statement of financial activities
For the year ended 31 March 2024
| Unrestricted Restricted funds funds Notes £ £ Income and endowments from: Donations and legacies 2 42,238 - Charitable activities 3 43,062 2,547 Income from investments 4 8,640 1,871 Total income 93,940 4,418 Expenditure on: Raising funds Cost of goods sold and other costs 5 12,212 - Expenditure on charitable activities 6 2,949 14,500 Support costs 7 81,847 1,702 Total expenditure 97,008 16,202 Net income/(expenditure) before transfers and gains and losses on investments ) (3,068 ) (11,784 Transfer between funds - 11,784 Transfer between funds ) (11,784 - Movement in market value of investment portfolio 25,659 9,737 Net movement in funds 10,807 9,737 Reconciliation of funds: Total funds brought forward 451,621 89,052 Total funds carried forward 462,428 98,789 |
2024 Total £ 42,238 45,609 10,511 98,358 12,212 17,449 83,549 113,210 ) (14,852 11,784 ) (11,784 35,396 20,544 540,673 561,217 |
2023 Total £ 42,892 22,254 10,973 76,119 357 42,791 68,247 111,395 ) (35,276 21,042 ) (21,042 ) (82,495 ) (117,771 658,444 540,673 |
|---|---|---|
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 9 to 14 form an integral part of these financial statements.
Page 7
The Friends Of Hammersmith Hospital
Balance sheet as at 31 March 2024
| Notes Fixed assets Tangible fixed assets 10 Fixed asset investments 11 Current assets Stock Debtors 12 Bank and cash Creditors: amounts falling due within one year 13 Net current assets Net assets Funds 14 Restricted income funds Unrestricted income funds Total funds |
2024 £ £ - 513,096 513,096 4,477 1,388 74,339 80,204 ) (32,083 48,121 561,217 98,789 462,428 561,217 |
2023 £ £ - 490,216 490,216 4,878 1,304 71,445 77,627 ) (27,170 50,457 540,673 89,052 451,621 540,673 |
2023 £ £ - 490,216 490,216 4,878 1,304 71,445 77,627 ) (27,170 50,457 540,673 89,052 451,621 540,673 |
|---|---|---|---|
| 490,216 50,457 |
|||
| 540,673 | |||
| 89,052 451,621 |
|||
| 540,673 |
The financial statements were approved by the Trustees on 26 September 2024 and signed on its behalf by
A. Smith (Chair)
J. Sweid (Trustee)
The notes on pages 9 to 14 form an integral part of these financial statements.
Page 8
The Friends Of Hammersmith Hospital
Notes to the financial statements for the year ended 31 March 2024
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 9
The Friends Of Hammersmith Hospital
Notes to the financial statements
for the year ended 31 March 2024
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:
- Fixtures, fittings and equipment 20% per annum reducing balance - Shop fittings 20% per annum reducing balance
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 30,824 Legacies 11,284 Subscriptions 130 42,238 |
2024 Total £ 30,824 11,284 130 42,238 |
2023 Total £ 17,762 25,000 130 |
|---|---|---|
| 42,892 |
3. Charitable activities
| Charitable activities | ||
|---|---|---|
| Unrestricted Restricted funds funds £ £ Shop income 20,774 - Annual project 22,288 2,547 43,062 2,547 |
2024 Total £ 20,774 24,835 45,609 |
2023 Total £ 5,905 16,349 |
| 22,254 |
Page 10
The Friends Of Hammersmith Hospital
Notes to the financial statements for the year ended 31 March 2024
| 4. Income from investments Unrestricted Restricted funds funds £ £ Income from interest and UK listed investments 8,640 1,871 8,640 1,871 5. Fundraising trading Unrestricted funds £ Shop costs 12,212 12,212 6. Expenditure on charitable activities Unrestricted Restricted funds funds £ £ Machine Perfusion for renal unit - - Foetal monitors for birthing suite and labour ward - - Peritneal dialysis fund - - Annual Project - Omni Retractor for Theatres - 14,500 Bereavement Room Refurbushment QCH 1,823 - Metabolic Medicine Fund 500 - Cardiology Fund 500 - Christmas Tree for Theatres 126 - 2,949 14,500 |
2024 Total £ 10,511 10,511 2024 Total £ 12,212 12,212 2024 Total £ - - - 14,500 1,823 500 500 126 17,449 |
2023 Total £ 10,973 10,973 2023 Total £ 357 357 2023 Total £ 28,000 13,696 1,095 - - - - - |
|
|---|---|---|---|
| 42,791 |
Page 11
The Friends Of Hammersmith Hospital
Notes to the financial statements for the year ended 31 March 2024
7. Analysis of support costs
| Unrestricted Restricted funds funds £ £ NHS recharges (including staff costs) 70,779 - Rates and water 534 - Insurance 690 - Accountancy and bookkeeping fees 1,595 - Legal and professional fees 5,375 1,702 Sundry expenses 763 - Printing, postage and stationery 665 - Bank charges 1,446 - 81,847 1,702 |
2024 Total £ 70,779 534 690 1,595 7,077 763 665 1,446 83,549 |
2023 Total £ 55,490 (323) 557 1,846 7,849 1,208 773 847 |
|---|---|---|
| 68,247 |
8. Employees
| Employment costs | 2024 | 2023 |
|---|---|---|
| £ | £ | |
| NHS recharges (including wages and salaries) | 70,779 | 55,490 |
A salary has been paid to one employee during the year by the NHS (2023: 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: | ||
|---|---|---|
| 2024 | 2023 | |
| Number | Number | |
| Administrator | 1 | 1 |
9. 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.
Page 12
The Friends Of Hammersmith Hospital
Notes to the financial statements for the year ended 31 March 2024
| Fixtures, 10. Tangible fixed assets fittings and Shop equipment fittings £ £ Cost At 1 April 2023 3,443 19,140 At 31 March 2024 3,443 19,140 Depreciation At 1 April 2023 3,443 19,140 At 31 March 2024 3,443 19,140 Net book values At 31 March 2024 - - At 31 March 2023 - - 11. Fixed asset investments Listed investments £ Market value At 1 April 2023 490,216 Movement 22,880 At 31 March 2024 513,096 All fixed asset investments are held within the United Kingdom. 12. Debtors 2024 £ Other debtors 1,388 Prepayments - 1,388 13. Creditors: amounts falling due within one year 2024 £ Taxes and social security creditor 317 Accruals and deferred income 31,766 32,083 |
Total £ 22,583 22,583 22,583 22,583 - - Total £ 490,216 22,880 513,096 2023 £ 614 690 1,304 2023 £ 377 26,793 27,170 |
|---|---|
Page 13
The Friends Of Hammersmith Hospital
Notes to the financial statements for the year ended 31 March 2024
14. Analysis of net assets between funds
| Unrestricted Restricted funds funds £ £ Fund balances at 31 March 2024 as represented by: Tangible fixed assets - - Fixed asset investments 414,307 98,789 Current assets 80,204 - Current liabilities ) (32,083 - 462,428 98,789 |
Total funds £ - 513,096 80,204 ) (32,083 561,217 |
|---|---|
| 15. | Unrestricted funds | At | At | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 01 April | Incoming | Outgoing | 31 March | ||||||
| 2023 | resources | resources | Transfers | Movement | 2024 | ||||
| £ | £ | £ | £ | £ | £ | ||||
| General fund | 451,621 | 93,940 | (97,008 | ) | (11,784 | ) | 25,659 | 462,428 |
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.
| 16. Restricted funds Maureen Miles Legacy Annual project |
At At 01 April Incoming Outgoing 31 March 2023 resources resources Transfers Movement 2024 £ £ £ £ £ £ 89,052 1,871 ) (1,702 ) (169 9,737 98,789 - 2,547 ) (14,500 11,953 - - 89,052 4,418 ) (16,202 11,784 9,737 98,789 |
At At 01 April Incoming Outgoing 31 March 2023 resources resources Transfers Movement 2024 £ £ £ £ £ £ 89,052 1,871 ) (1,702 ) (169 9,737 98,789 - 2,547 ) (14,500 11,953 - - 89,052 4,418 ) (16,202 11,784 9,737 98,789 |
|---|---|---|
| 98,789 |
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 expenditure of £14,500 for Omni Retractor for the theatres.
Page 14