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2025-07-31-accounts

REGISTERED CHARITY NUMBER: 209330

Report of the Trustees and Financial Statements for the Year Ended 31st July 2025 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 2025

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
Additional notes to Financial Statements 12
Schedule of Administrative Expenses 13

THE FRIENDS OF ST GEORGE'S HOSPITAL

Report of the Trustees FOR THE YEAR ENDED 31ST JULY 2025

The trustees present their report with the financial statements of the charity for the year ended 31st July 2025. 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

P Brewer Chairman S Davis Vice Chairman M Rommens Treasurer T White J Davis P Hooper Resigned November 2023 M Lowe S Taleghany M Tomlin Resigned July 2024 G Pickett B Edgley Appointed September 2024

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.

Bi-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

Report of the Trustees FOR THE YEAR ENDED 31ST JULY 2025

THE FRIENDS OF ST GEORGE'S HOSPITAL

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.

Friends of St George’s Hospital Charity

Trustees Report for Year End 31[st] July 2025

We are happy to announce that Mrs Barbara Edgley was appointed a Trustees in September 2024. Mrs Edgley worked for St Georges Hospital for many years before retiring. We are delighted that she agreed to join us.

Gifts

This year is a landmark for the Friends. We have donated £200,000 to the hospital charity’s Time for Change Children’s Appeal. This will play a vital role in transforming the hospital experience for thousands young patients and their families across South West London.

Our donation will help to provide

In addition to this incredible gift, the Friends have donated another £43,000 supporting various projects throughout the hospital to enhance the care of patients or improve the well-being of our staff.

We have continued our support for the research being carried out by Prof Marjan Jahangiri in cardiac surgery to improve the care of patients before and after cardiac surgery, and Dr Dimitra Nikoletou who is researching the use of a very simply test to help monitor patients with Interstitial Lung disease. The Friends feel that research is important as the benefits last much longer than the initial donation.

Office

No changes have taken place, Miss Anne Whiting, our Secretary can still be found in the office, inevitably with a cup of tea.

Shop

The Friends shop has yet had another successful year, probably the best yet. As always, our thanks go to Sue Marshall who runs the shop with the help of Pat Hooper, Mary Rommens and Tina Martin.

Another reason for our continued success is due to our much-loved handmade items this would not be possible without the generosity of those who knit, crochet, sew, make jewellery and other wonderful items.

Fundraising

As tradition dictates, we held our very popular ‘Everyone’s a Winner’ tombola at Christmas. We did of course have the free staff Christmas Raffle which is now firmly placed in the hospital calendar. It doesn’t raise funds but sometimes a smile on someone’s face is money in the bank.

Page 2

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 and the shop, so we can continue to provide the support and service currently provided to staff and patients.

On behalf of the Board of Trustees

Mary Rommens Treasurer

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 2025 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:

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:

have not been met; or

Mr Stanley Chicksand BSC FCA CTA Chicksand Gordon Avis 12 Northfields Prospect Putney Bridge Road London SW18 1PE

Page 4

THE FRIENDS OF ST GEORGE'S HOSPITAL Statement of Financial Activities FOR THE YEAR ENDED 31ST JULY 2025

Unrestricted
Restricted
funds
funds
INCOMING RESOURCES
Notes
£
£
Incoming resources from
generated funds
Activities for generating funds
2
22,052
105,980
Investment income
3
780
0
Total incoming resources
22,832
105,980
RESOURCES EXPENDED
Cost of generating funds
Cost of generating voluntary
income
4
35,884
0
Fundraising trading: cost of goods sold
and other
costs
5
0
87,708
Charitable activities
Hospital Grants
241,917
0
Governance costs
3,000
0
Other resources expended
0
0
Total resources expended
280,801
87,708
NET INCOMING/(OUTGOING)
RESOURCES
(257,969)
18,272
Net incoming/(outgoing)
resources before
other recognised gains and
losses
(257,969)
18,272
Other recognised gains/losses
Gains on investment assets
77,001
0
Net movement in funds
(180,968)
18,272
TRANSFER OF FUNDS
34,718
(34,718)
Total funds brought forward
1,261,057
76,714
TOTAL FUNDS CARRIED
FORWARD
1,114,807
60,268
CONTINUING OPERATIONS
All incoming resources and resources expended arise from continuing activities.		 2025
Total
funds
£
128,032
780
128,812
35,884
87,708
241,917
3,000
0
368,509
(239,697)
(239,697)
77,001
(162,696)
0
1,337,771
1,175,075
 2024
Total funds
£
97,884
10,147
108,031
34,053
73,148
53,962
3,180
0
164,343
(56,312)
(56,312)
26,069
(30,243)
0
1,368,014
1,337,771

The notes form part of these financial statements

Page 5

THE FRIENDS OF ST GEORGE'S HOSPITAL

Balance Sheet AT 31ST JULY 2025

FIXED ASSETS
Notes
Tangible assets
8
Investments
9
CURRENT ASSETS
Stocks
10
Debtors
11
Cash at bank
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
FUNDS
13
Unrestricted funds;
Friends Restricted Funds
TOTAL FUNDS		 Unrestricted
funds
£
439
1033,637
1,034,076
0
0
83,731
83,731
(3,000)
80,731
1,114,807		 Restricted
funds
£
0
___0
0
13,153
48
49,159
62,360
(2,092)
60,268
60,268		 2025
Total funds
£
439
1,033,637
1,034,076
13,153
48
132,890
146,091
(5,092)
140,999
1,175,075
1,114,807
60,268
1,175,075		 2024
Total funds
£
586
1,162,319
1,162,905
14,105
429
163,802
178,336
(3,470)
174,866		 2024
Total funds
£
586
1,162,319
1,162,905
14,105
429
163,802
178,336
(3,470)
174,866
____
1,337,771
1261,057
76,714
1,337,771

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 2025

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		 2025
£
105,980
22,052
128,032
2025
£
780
0
780		 2024
£
92,170
5,714
97,884
2024
£
1,663
8,484
10,147

Page 7

THE FRIENDS OF ST GEORGE'S HOSPITAL

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST JULY 2025

----------------------------------------------------------------------------------------------------------------------------------------------------------------

4. COST OF GENERATING VOLUNTARY INCOME

COST OF GENERATING VOLUNTARY INCOME
2025 2024
£ £
Insurance 434 430
Other costs 4,323 4,445
Support costs 31,127 29,178
35,884 34,053
FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS
2025 2024
£ £
Purchases 69,805 56,342
Support costs 17,903 16,806
87,708 73,148

  1. FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS

  2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st July 2025 nor for the year ended 31st July 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st July 2025 nor for the year ended 31st July 2024.

  1. STAFF COSTS
Wages and salaries
The average monthly number of employees during the year was as follows:
Administration
Shop		 2025
£
49,030,
2025
1
1
2		 2024
£
45,984
2024
1
1
2

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 2025

8. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Fixtures and
fittings
£
COST
At 1st August 2024 and 31 July 2025 5,638
Additions 0
5,638
DEPRECIATION
At 1st August 2024 5,052
Charge for year 147
At 31st July 2025 5,199
NET BOOK VALUE
At 31st July 2025 439
At 31st July 2025 439
FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
At 1st August 2024 1,162,319
Investment (205,683)
Revaluations 77,001
At 31st July 2025 1,033,637
NET BOOK VALUE
At 31st July 2025 1,033,637
At 31st July 2024 1,162,319

9. FIXED ASSET INVESTMENTS

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.

10.

Investments
Evelyn Partners
Evelyn Partners X0
STOCKS
Goods for sale
 2025
£
1,033,637
0		 Market Value 2024
£
1,059,484
102,835
1,033,637
2025
£
13,153		 1,162,319
2024
£
14,105

Page 9

THE FRIENDS OF ST GEORGE'S HOSPITAL

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31ST JULY 2025

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
VAT, postage stock and deposit AGM meeting
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other Creditors
13.
MOVEMENT IN FUNDS		 2025
£
48
2025
£
5,092		 2024
£
429
2024
£
3,470
Unrestricted funds
Friends Fund
Restricted funds
Shop Fund
TOTAL FUNDS
Net movement in funds, included in the above are a
Unrestricted funds
Friends Fund
Restricted funds
Shop Fund		 s follows:
Incoming
Resources
£
22,832
105,980
128,812		 Resources
Expended
£
280,801
87,708
368,509		 At 1.8.24
1,261,057
76,714
1,337,771


Gains and
Losses
£
77,001
_____0
77,001		 Net
Movement
in Funds
(146,250)
(16,446
(162,696)
Transfer
of Funds
£
34,718
(34,718)

_____0		 At 31.7.25
1,114,807
60,268
1,175,075
Movement
in Funds
£
(146,250)
(16,446)
(162,696)


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 £711,017 (2024 £634,016)

Page 10

THE FRIENDS OF ST GEORGE'S HOSPITAL

Detailed Statement of Financial Activities FOR THE YEAR ENDED 31ST JULY 2025

INCOMING RESOURCES
Activities for generating funds
Shop income
Subscriptions and donations
Investment income
Deposit account income
Investment bond income
Total income resources
RESOURCES EXPENDED
Cost of generating funds
Insurance
Other costs
Fundraising trading: cost of goods sold and
other cost
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)		 2025
£
105,980
22,052
128,032
780
0
780
128,812
434
999
1,433
69,805
241,917
49,030
918
812
50,760
1,447
3,000
147
4,594
368,509
(239,697)		 2024
£
92,170
5,714
97,884
1,663
8,484
10,147
108,031
430
2,066
2,496
56,342
53,962
45,984
159
1,103
47,246
922
3,180
195
4,297
164,343
(56,312)		 2024
£
92,170
5,714
97,884
1,663
8,484
10,147
108,031
430
2,066
2,496
56,342
53,962
45,984
159
1,103
47,246
922
3,180
195
4,297
164,343
(56,312)		 2024
£
92,170
5,714
97,884
1,663
8,484
10,147
108,031
430
2,066
2,496
56,342
53,962
45,984
159
1,103
47,246
922
3,180
195
4,297
164,343
(56,312)
(56,312)

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 2025

__________________

Note 4: Cost of General Voluntary Income (page 8)

PPS
Computer and Till running costs
Legal
Bank charges

Sundry expenses
Depreciation
AGM Meeting
Detailed Statement of Financial Activities (page 11)
RESOURCES EXPENDED
Cost of General Voluntary income
Computer Expenses and Till running costs

Legal

Sundry
 £
918
588
300
1,447
111
147
812
4,323
588
300
__111
999

Page 12

THE FRIENDS OF ST GEORGE'S HOSPITAL SCHEDULE OF ADMINISTRATVE EXPENSES FOR THE YEAR ENDED 31 JULY 2025

Administrative expenses
Wages and Salaries
Insurance
Computer and Till running costs
Legal and Professional fees
Accountancy
Charitable Donations
Bank Charges
Printing and stationery
Sundry expenses
Depreciations		 2025
£
49,030
434
588
300
3,000
241,917
1,446
918
923
147
298,703		 2024
£
45,984
430
1,713
253
3,180
53,962
922
160
1,203
195
108,002

_________________ Page 13