**REGISTERED CHARITY NUMBER: 209330**
**Report of the Trustees and Financial Statements for the Year Ended 31st July 2021 for THE FRIENDS OF ST GEORGE'S HOSPITAL**
**THE FRIENDS OF ST GEORGE'S HOSPITAL**
**Contents of the Financial Statements FOR THE YEAR ENDED 31ST JULY 2021**
||Page|
|---|---|
|Report of the Trustees|1 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 10|
|Detailed Statement of Financial Activities|11|
## **THE FRIENDS OF ST GEORGE'S HOSPITAL**
## **Report of the Trustees FOR THE YEAR ENDED 31ST JULY 2021**
The trustees present their report with the financial statements of the charity for the year ended 31st July 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
209330
## **Principal address**
Grosvenor Wing, St George's Hospital Blackshaw Road London SW17 0QT
## **Trustees**
T White - Chairman P Brewer - Vice Chairman M Rommens - Treasurer G Pickett J Davis P Hooper M Lowe S Taleghany M Tomlin S Davis
## **Independent examiner**
Mr Stanley Chicksand BSC FCA CTA Chicksand Gordon Avis 12 Northfields Prospect Putney Bridge Road London SW18 1PE
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
The persons named have served throughout the year, except if otherwise stated after their names.
Appointment of members of the Committee is governed by the Constitution of the Friends dated 20th November 1998. The Committee is authorised to appoint new members to fill vacancies arising through resignation or death of any existing member.
Monthly Committee meetings are held at which reports are received from the Treasurer, the Secretary and Hospital requests for equipment etc. Hospital requests are considered and if approved the Secretary is authorised to action them.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The Friends exists to provide extra comforts and support for patients and staff at St. George's Hospital not provided by the St. George's University Hospital NHS Foundation Trust. The Friends office is situated in Grosvenor Wing, St. George's Hospital, Blackshaw Road, London, SW17 OQT.
Page 1
## **THE FRIENDS OF ST GEORGE'S HOSPITAL**
## **Report of the Trustees FOR THE YEAR ENDED 31ST JULY 2021**
## **Public Benefit**
The trustees, as required by section 4 of the Charities Act 2006, have paid due regard to the Charity Commission's guidance on providing public benefit when reviewing the Charity's aims and objectives in deciding what activities the charity should undertake and how the donations made have advanced the objects of the Charity.
## **AGM**
It seems a lifetime ago since we had our Annual General Meeting at The Lanesborough Hotel. Sadly, we were not able to hold our meeting in 2020 due to Covid.
## **Covid-19**
This financial year has been a challenge with the shop closed for four months and the staff furloughed. However, we returned on 12[th] April and thanks to the very successful vaccine programme, we will all be able to return to the hustle and bustle of everyday life soon.
## **Gifts**
This has been a difficult year for everyone. The Friends have therefore been doing their very best to approve all the funding requests we received.
We agreed a funding request from Paediatric Intensive Care Unit to replace the five mattresses in their family rooms. Having a few hours’ sleep on a comfortable mattress, is essential for worried parents with a child on the unit.
The Friends donated £3,000 to the Wolfson Unit to refurbish their staff room. The Wolfson is a specialist neuro rehabilitation centre, which looks after patients requiring intensive therapy following an acquired neurological condition such as stroke, traumatic injuries to the brain or spine, including long term conditions like multiple sclerosis. We are looking forward to seeing the transformation soon.
Covid has created challenges for many departments; maternity who moved their Infant Feeding classes off site; we funded a projector to make this possible. Cardiology had laptops to enable more staff to work from home. Lunches to various departments, who were having a bad day, a good pizza can do wonders for staff morale.
Christmas was an emotional time for everyone so The Friends gave out Christmas stockings to staff filled with goodies, together with the traditional Christmas presents for patients on our senior health wards.
This is just a snap shot of the various funding. We agreed most of them, small but equally important.
We are able to report that the total amount committed for this year is £10,973.26. Not a huge amount, but we will make up for it next year.
## **Office**
No changes have taken place. Anne Whiting; our Secretary can still be found supporting and working with the hospital to get The Friends’ various services up and running again.
## **Shop and Trolley Services**
Mrs Sue Marshall now works four days a week and Miss Pat Hooper and Mrs Mary Rommens (two of our stalwart trustees) cover the other day. The shop is only open during the week with slightly reduced hours, but hopefully this will increase in time.
On 17[th] May, in line with the lifting of some of the restrictions, the tea trolley service returned. With the reduction of patients in outpatients, this has been a slow recovery but one step at a time.
We are hoping the sweet trolley will be allowed to return but will just have to wait and see when this will be possible. It is our intention to re-launch George on Skates (our virtual sweet trolley service), and run it in conjunction with the physical trolley but again, we have no date for when this will happen.
Page 2
## **Fundraising**
Fundraising for all charities at the moment has been hard. The Friends rely on the income from the shop and the generosity of others. This year just before Christmas, we received a number of bequests, but one was very special; it was for £290,000. This is the largest single donation The Friends have ever received and we again, thank the family for their generosity. We will be working closely with the hospital to ensure that this amazing donation benefits as many patients as possible.
Unfortunately, the rest of the year has been very uneventful. Hopefully we can make up for it in 2022.
## **Achievement and Performance – Investment Performance**
The objective of The Friends’ investment policy is to achieve a rising level of income rather than capital growth, increases sufficient to meet The Friends’ principal activity.
## **Finance Review – Reserves Policy**
The Friends’ principal reason for holding reserves is to generate an increasing flow of investment income, in addition to the income received from donations, fundraising, shop and trolley sales, in order that The Friends can continue to provide the support and services it currently gives to staff and patients.
On behalf of the Board of Trustees
Theresa White Chairman
Page 3
**Independent Examiner's Report to the Trustees of The Friends of St George's Hospital**
I report on the accounts for the year ended 31st July 2021 set out on pages 5 to eleven 11.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
- examine the accounts under Section 145 of the 2011 Act
- to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## **Basis of the independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that, in any material respect, the requirements
- to keep accounting records in accordance with Section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr Stanley Chicksand BSC FCA CTA Chicksand Gordon Avis 12 Northfields Prospect Putney Bridge Road London SW18 1PE
The notes form part of these financial statements
Page 4
## **THE FRIENDS OF ST GEORGE'S HOSPITAL**
## **Statement of Financial Activities FOR THE YEAR ENDED 31ST JULY 2021**
|||||**2021**|2020|
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total funds**|Total funds|
|||**funds**|**funds**|||
|nNotes||**£**|**£**|**£**|£|
|**INCOMING RESOURCES**||||||
|**Incoming resources from generated funds**||||||
|Activities for generating funds|2|314,122|32,312|346,434|63,580|
|Investment income|3
|11,955|-|11,955|14,955|
|**Total incoming resources**||326,077|32,312|358,389|78,535|
|**RESOURCES EXPENDED**||||||
|**Costs of generating funds**||||||
|Costs of generating voluntary income|4|29,361|-|29,361|34,354|
|Fundraising trading: cost of goods sold and other|
5|-|26,651|26,651|43,010|
|costs||||||
|**Charitable activities**||||||
|Hospital Grants||7,214|-|7,214|6,616|
|**Governance costs**||2,000|-|2,000|2,000|
|**Other resources expended**||-|-|-|-|
|**Total resources expended**||38,575|26,651|65,226|85,980|
|**NET INCOMING/(OUTGOING) RESOURCES**||||||
|||287,502|5,661|293,163|(7,455)|
|**Net incoming/(outgoing) resources before**||||||
|**other recognised gains and losses**||287,502|5,661|293,163|(7,455)|
|**Other recognised gains/losses**||||||
|Gains on investment assets||173,699|-|173,699|(121,834)|
|**Net movement in funds**||461,201|5,661|466,862|(129,279)|
|**TRANSFER OF FUNDS**||1,369|(1,369)|-|-|
|**Total funds brought forward**||908,126|26,990|995,116|1,124,395|
|**TOTAL FUNDS CARRIED FORWARD**||1,430,696|31,282|1,461,978|995,116|
## **CONTINUING OPERATIONS**
All incoming resources and resources expended arise from continuing activities.
The notes form part of these financial statements
Page 5
## **THE FRIENDS OF ST GEORGE'S HOSPITAL**
## **Balance Sheet AT 31ST JULY 2021**
|**2021**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**funds**
nNotes
**£**
**£**
**£**
**FIXED ASSETS**
Tangible assets
8
1,390
-
1,390
Investments
9
1,016,813
-
1,016,813
1,018,203
-
1,018,203
**CURRENT ASSETS**
Stocks
10
-
12,653
12,653
Debtors
11
-
647
647
Cash at bank
414,493
17,982
432,475
414,493
31,282
445,775
**CREDITORS**
Amounts falling due within one year
12
(2,000)
-
(2,000)
**NET CURRENT ASSETS**
412,493
31,282
443,775
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
1,430,696
31,282
1,461,978
**FUNDS**
13
Unrestricted funds:
Friends Fund
1,430,696
Restricted funds
31,282
**TOTAL FUNDS**
1,461,978|2020
Total
funds
**£**
1,854
843,114
844,968
12,315
598
139,235
152,148
(2,000)
150,148
995,116
968,126
26,990
995,116|
|---|---|
The financial statements were approved by the Board of Trustees on …………………... and were signed on its behalf by:
T White - Chairman-Trustee
M Rommens - Treasurer-Trustee
The notes form part of these financial statements
Page 6
## **THE FRIENDS OF ST GEORGE'S HOSPITAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2021**
## **1. ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Financial reporting standard number 1 (revised)**
Exemption has been taken from preparing a cash flow statement on the grounds that the charity qualifies as a small charity.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. ACTIVITIES FOR GENERATING FUNDS**
|Shop income
Subscriptions and donations
**3.**
**INVESTMENT INCOME**
Deposit account interest
Investment bond interest|**2021**
**£**
32,312
314,122
346,434
**2021**
**£**
7
11,948
11,955|2020
£
51,009
12,571
63,580
2020
£
126
14,829
14,955|
|---|---|---|
Page 7
## **THE FRIENDS OF ST GEORGE'S HOSPITAL**
## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST JULY 2021**
## **4. COST OF GENERATING VOLUNTARY INCOME**
|Insurance
Other costs
Support costs
**5.**
**FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS**
Purchases
Support costs|**2021**
**£**
644
3,302
25,415
29,361
**2021**
**£**
16,581
10,070
26,651|2020
£
619
7,401
26,334
34,354
2020
£
31,724
11,286
43,010|
|---|---|---|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st July 2021 nor for the year ended 31st July 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st July 2021 nor for the year ended 31st July 2020.
## **7. STAFF COSTS**
|Wages and salaries
The average monthly number of employees during the year was as follows:
Administration
Shop|**2021**
**£**
35,485
**2021**
1
1
2|2020
£
37,620
2020
1
2
3|
|---|---|---|
||||
No employees received emoluments in excess of £60,000.
Page 8
**THE FRIENDS OF ST GEORGE'S HOSPITAL Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST JULY 2021**
## **8. TANGIBLE FIXED ASSETS**
|**8.**|**TANGIBLE FIXED ASSETS**||
|---|---|---|
|||**Fixtures and**|
|||**fittings**|
|||**£**|
||**COST**||
||At 1st August 2020 and 31 July 2021|5,639|
||Additions|-|
|||5,639|
||**DEPRECIATION**||
||At 1st August 2020|3,785|
||Charge for year|464|
||At 31 July 2021|4,249|
||**NET BOOK VALUE**||
||At 31st July 2021|1,390|
||At 31st July 2021|1,390|
|**9.**|**FIXED ASSET INVESTMENTS**||
|||**Listed**|
|||**investments**|
|||**£**|
||**MARKET VALUE**||
||At 1st August 2020|843,114|
||Revaluations|173,699|
||At 31st July 2021|1,016,813|
||**NET BOOK VALUE**||
||At 31st July 2021|1,016,813|
||At 31st July 2020|843,114|
## There were no investments outside the UK.
|There were no investments outside the UK.|There were no investments outside the UK.||
|---|---|---|
|Investments which are material to the financial statements are disclosed separately. Material||investments are|
|taken to be those which are greater than 5% of the total value of investments.|||
|Investment|**Market Value**|Percentage|
||**£**|%|
|BlackRock Charinco Common Investment Fund Accumulation|**103,235**
|10|
|BlackRock Charishare Common Investment Fund Accumulation|**574,615**|56|
|BlackRock Charinco Common Investment Fund Income|**18,254**|2|
|M&G Charifund|**320,709**|32|
|The investments are s|||
tated at market value and unrealised gains and losses are recognised in equity.
**10. STOCKS**
|Goodsforsale|**2021**
**£**
12,653
|2020
£
12,315|
|---|---|---|
Page 9
**THE FRIENDS OF ST GEORGE'S HOSPITAL**
**Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST JULY 2021**
## **11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||||**2021**||2020|
|---|---|---|---|---|---|
||||**£**||£|
||VAT and postage stock||647||598|
|**12.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
||||**2021**||2020|
||||**£**||£|
||Other creditors||2,000||2,000|
|**13.**|**MOVEMENT IN FUNDS**|||||
|||**At 1.8.20**|**Net**|**At 31.7.21**||
||||**Movement in**|||
||||**Funds**|||
|||**£**|**£**||**£**|
||**Unrestricted funds**|||||
||Friends Fund|968,126|462,570|1,430,696||
||**Restricted funds**|||||
||Shop Fund|26,990|4,292||31,282|
||**TOTAL FUNDS**|995,116|466,862|1,461,978||
Net movement in funds, included in the above are as follows:
||**Incoming**|**Resources**|**Gains and**|**Transfer of**|**Movement in**|
|---|---|---|---|---|---|
||**Resources**|**Expended**|**Losses**|**Funds**|**Funds**|
||**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**|326,077|38,575|173,699|1,369|462,570|
|Friends Fund||||||
|**Restricted funds**|32,312|26,651|**-**|(1,369)|4,292|
|Shop Fund||||||
||_______|||||
|**TOTAL FUNDS**|358,389|65,226|173,699|**-**|466,862|
## **14. FRIENDS FUND**
The Friends Fund is an unrestricted fund whose assets are applied in accordance with the Charity's constitution.
## **15. SHOP FUND**
The Shop Fund is a restricted fund whose assets are distributed to the Friends Fund each year.
## **16. REVALUATION RESERVE**
Included within the Friends Fund are unrealised gains on investments of £586,810 (2020: £413,111).
Page 10
## **THE FRIENDS OF ST GEORGE'S HOSPITAL**
## **Detailed Statement of Financial Activities FOR THE YEAR ENDED 31ST JULY 2021**
|**INCOMING RESOURCES**
**Activities for generating funds**
Shop income
Subscriptions and donations
**Investment income**
Deposit account interest
Investment bond interest
**Total incoming resources**
**RESOURCES EXPENDED**
**Costs of generating voluntary income**
Insurance
Other costs
**Fundraising trading: cost of goods sold and other costs**
Purchases
**Charitable activities**
Grants to institutions
**Support costs**
**Management**
Wages
Postage and stationery
AGM meeting
**Finance**
Bank charges
Accountancy
Depreciation of tangible fixed assets
**Total resources expended**
**Net income/(expenditure)**
|**2021**
**£**
32,312
314,122
346,434
7
11,948
11,955
358,389
644
1,146
1,790
16,581
7,214
35,485
768
-
36,253
924
2,000
464
3,388
65,226
293,163|2020
£
51,009
12,571
63,580
126
14,829
14,955
78,535
619
2,737
3,356
31,724
6,616
37,620
808
2,360
40,788
879
2,000
617
3,496
85,980
(7,445)|
|---|---|---|
The notes form part of these financial statements
Page 11
## **THE FRIENDS OF ST GEORGE'S HOSPITAL**
## **Notes to the Financial Statements as at 31ST JULY 2021**
**________________________________________________________________________________________________ Note 4: Cost of General Voluntary Income (page8** )
|Other cost analysis:
Printing and Stationary
Computer Expenses
Bank charges
Equipment repairs
Sundry
Depreciation|768
300
924
743
103
464|
|---|---|
||3,302|
## **Detailed Statement of Financial Activities (page 11) RESOURCES EXPENDED Cost of General Voluntary Income**
|Other cost analysis:
Computer Expenses
Equipment repairs
Sundry|300
743
103
|
|---|---|
||_____
1,146|
Page 12
## **THE FRIENDS OF ST GEORGE’S HOSPITAL**
## **SCHEDULE OF ADMINISTRATIVE EXPENSES** _**FOR THE YEAR ENDED 31 JULY 2021**_
_**________________________________________________________________________**_
|**Administrative expenses**
Wages and Salaries
Staff welfare
Insurance
Computer running costs
Legal and professional fees
Accountancy
Charitable donations
Bank charges
Printing and stationery
Advertising
AGM Meeting expenses
Sundry expenses
Depreciation
Equipment repairs
|2021
£
35,485
-
644
300
-
2,000
7,214
924
768
-
-
103
464
743
______
48,645|2020
£
37,620
676
619
1,292
276
2,000
6,616
879
808
332
2,360
161
617
-
______
54,256|
|---|---|---|