**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 - en-suite facilities in every bay, giving families greater privacy and dignity. - Create quiet, calming spaces for parents and patients to rest and reflect. - Build modern, child-friendly play areas and age-appropriate spaces for teenagers. 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: - 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** 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| 5. **FUNDRAISING TRADING: COST OF GOODS SOLD AND OTHER COSTS** 6. **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. 7. **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