**THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD** ## **FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2024** **Registered Charity No: 215518** **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD** **CONTENTS OF THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ||**PAGE**| |---|---| |**CHARITY INFORMATION**|**2**| |**REPORT OF THE TRUSTEES**|**3 - 4**| |**REPORT OF THE INDEPENDENT EXAMINER**|**5**| |**STATEMENT OF FINANCIAL ACTIVITIES**|**6**| |**BALANCE SHEET**|**7**| |**NOTES TO THE FINANCIAL STATEMENTS**|**8 - 13**| Page 1 ## **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD** ## **Charity Information for the Year ended 31 December 2024** |**TRUSTEES:**|StJohn Brown| |---|---| ||Linda Skinner| ||Alexandra Durrant FCA| ||Christine Rea| ||Judy Busby| |**SECRETARY:**|Linda Skinner| |**CHARITY ADDRESS:**|Cobble Court| ||Hammerwood| ||East Grinstead| ||West Sussex| ||RH19 3QE| |**CHARITY NUMBER:**|215518| |**INDEPENDENT EXAMINER:**|Darren Harding ACCA FCCA DChA| ||Richard Place Dobson Services Limited| ||1-7 Station Road| ||Crawley| ||West Sussex| ||RH10 1HT| |**BANKERS**|Barclays Bank PLC| ||10-12 The Martletts| ||Crawley| ||West Sussex| ||RH10 1ES| ||Lloyds Bank PLC| ||London Road| ||East Grinstead| ||West Sussex| ||RH19 1AH| Page 2 ## **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD Charity Number: 215518** ## **Report of the Trustees for the year ended 31 December 2024** The trustees present their report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out on note 1 to the financial statements and comply with the league’s rules and constitution, the Charities Act 2021 and “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 2019)”. ## **Trustees** The trustees during the year under review were: StJohn Brown – chairman Miss L V Skinner – secretary Mrs A B Durrant – treasurer Dr A J Robertson – resigned 26/4/2024 R M Marchant – resigned 19/9/2024 Mrs C Rea Mrs Judy Busby The Trustees were saddened by the death of both Dr Andrew Robertson and Robert “Bob” Marchant in 2024. Both of them had been long standing Trustees and, before that, employees of the Queen Victoria Hospital. The League will miss their wise counsel and good humour. ## **Structure, Governance and Management** The League of Friends of the Queen Victoria Hospital East Grinstead, “the league”, was constituted in 1949 and was registered with the Charity Commission under charity number 215518 on 31 January 1963. The governing document of the league is the “Rules and Constitution” approved on 29 May 1961 as amended by resolutions passed on 17 June 1963, 26 June 2018, 20 September 2021, 13 October 2022 and 11 September 2023. Under the governing document the league is run by the trustees whose powers and responsibilities are defined in the document. The trustees decide on the policies to be adopted in the pursuance of the objectives of the league. The trustees have set out a risk management strategy which comprises an annual review of the risks faced by the league and the establishment of systems and procedures to mitigate those identified risks. New trustees are recruited, based on their experience and skills, from the local community so as to provide the league with a broad knowledge base relevant to its objectives. New trustees are approved and appointed by existing trustees and training is provided where necessary. Page 3 ## **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD Charity Number: 215518** ## **Report of the Trustees for the year ended 31 December 2024 (continued)** ## **Structure, Governance and Management (continued)** The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations, but which has since been withdrawn. ## **Objectives and Activities** The principal objectives of the league, under its governing document, are to support the needs of the patients and staff of the Queen Victoria Hospital and to encourage, foster and maintain both the interest and support of the public in their local hospital. The trustees are mindful of the Charity Commission’s guidance on public benefit when planning the league’s activities and expenditure. ## **Activities and performance for the year** Total income for the year was £44,101 (2023 - £54,029). Income in 2024 comprises subscriptions, donations, legacies and investment income. Direct charitable expenditure for the year was £79,827 (2023 - £85,413) and running costs were £1,711 (2023 - £1,727). At 31 December 2024 the trustees had approved no grant applications received from the Queen Victoria Hospital for hospital projects (2023 - £63,368). ## **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. ## **Reserves Policy** The trustees’ reserves policy is to maintain funds, held on deposit and in investments, at a sufficient level to be able to settle previously approved grant requests from the Queen Victoria Hospital as and when invoiced. ## **Statement of Trustees Responsibilities** The trustees are responsible for preparing the financial statements in accordance with the requirements of the Charities Act 2011. **�** On behalf of the trustees StJohn Brown – chairman 30[th] June 2025 Page 4 ## **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD Charity Number: 215518** ## **Independent Examiner’s Report to the Trustees of The League of Friend of the Queen Victoria Hospital East Grinstead** I report to the trustees on my examination of the financial statements of The League of Friends of the Queen Victoria Hospital East Grinstead (The Trust) for the year ended 31 December 2024. ## **Responsibilities and basis of report** As the charity 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 Leagues’ accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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 giving me cause to believe that in any material respect: - (1) Accounting records were not kept in respect of the charity as required by section 130 of the Act, or - (2) The financial statements do not accord with those records, or - (3) The financial statements do not comply with the applicable requirements concerning form and content of the financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view which is not a matter considered as part of an independent examination. 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 accounts to be reached. Darren Harding ACA FCCA DChA, on behalf of Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT Date: 1 July 2025 Page 5 ## **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD Charity Number: 215518** ## **Statement of Financial Activities for the Year Ended 31 December 2024** |||**2024**||**2023**| |---|---|---|---|---| |||**£**||**£**| |**Incoming Resources**||||| |Donations||2,248||740| |Legacies||0||14,069| |Activities in furtherance of||||| |charitable objectives||1,689||1,898| |Investment income||40,164||37,322| |||______||______| |||44,101||54,029| |**Resources Expended**||||| |Direct charitable expenditure|79,827||85,413|| |Support costs|1,711||1,727|| ||______|81,538|______|
87,140| |||______||______| |**Net Incoming/(Outgoing) Resources for year**||(37,437)||(33,111)| |**Investment revaluation**||16,695||(21,191)| |||______||_______| |||(20,742)||(54,302)| |**Funds at 1 January 2024**||706,001||760,303| |||______||______| |**Funds at 31 December 2024**||£685,259||£706,001| |||======||======| There were no recognised gains or losses for 2024 or 2023 other than those included in the Statement of Financial Activities. For the analysis of restricted, designated and unrestricted funds, see notes 11, 12 and 13 The notes form part of these financial statements Page 6 ## **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD Charity Number: 215518** ||**Balance Sheet at**|**31 December 2024**|| |---|---|---|---| |||**2024**|**2023**| |||**£**|**£**| ||**Note**||| |**Fixed Asset Investments**|||| |**At market value**|**9**|657,084|640,389| |||========|=======| |**Current Assets**|||| |Bank account||43,955|132,681| |**Creditors,**amounts falling|||| |due within one year|**10**|(15,780)|(67,069)| |||========|========| |**Total Net Assets**||£685,259|£706,001| |||**========**|**========**| |**Represented by:**|||| |Restricted Funds|**11**|29,489|29,489| |Designated Fund|**12**|657,084|640,389| |Unrestricted Funds|**13**|(1,314)|36,123| |||======|======| |||£685,259|£706,001| |||======|======| The financial statements were approved by the trustees on 30[th] June 2025 and were signed on its behalf by: ## **�** **StJohn Brown - chairman** The notes form part of these financial statements Page 7 ## **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD Charity Number: 215518** ## **Notes to the Financial Statements for the Year Ended 31 December 2024** ## **1) Accounting Policies** ## **Accounting convention** The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS102) “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable to UK and Republic of Ireland (FRS102) effective 1 January 2019”, Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” and Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective 1 April 2005 which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. ## **Financial Reporting Standard 102 – reduced disclosure exemption** The charity has taken advantage of the following disclosure exemption in preparing these financial statements as permitted by FRS102 “The FRS applicable to UK and Republic of Ireland – the requirement of section 7 statement of cash flows ## **Going concern** The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, being a period of at least 12 months from the date on which the report and financial statements are signed. For this reason it continues to adopt the going concern basis in the financial statements. The trustees are aware that at the reporting date, 31 December 2024, the unrestricted funds were negative and are actively seeking ways to rectify this position. There are sufficient funds held in the designated fund that can be transferred from investments held to meet liabilities as they fall due. The notes form part of these financial statements Page 8 **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD Charity Number: 215518** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## **1) Accounting Policies - continued** ## **Incoming resources** Donations and subscription are credited to income in the period to which they relate. Legacies are credited to income when received. Income from investments is credited to income in the year of receipt. Gifts in kind, such as work by volunteers, are much appreciated by the trustees, but are not reflected in the financial statements ## **Expenditure recognition** Direct charitable expenditure includes grants paid to the hospital for equipment or hospital running costs. This expenditure is recognised in the financial statements when invoiced by the hospital. Support costs include the cost of governance incurred in meeting constitutional and statutory requirements. These are charged to expenses on the accruals basis. ## **Fixed assets** Fixed assets are capitalised only where the cost exceeds £500. ## **Fixed asset investments** Investments are initially recognised at their transaction value and then measured at market value at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposal during the year. Realised gains and losses on investments are calculated as the difference between sale proceeds and their opening carrying value or their purchase value if acquired during the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and the carrying value. Realised and unrealised gains and losses are combined in the Statement of Financial Activities. ## **Cash and creditors** Cash at bank includes cash held in current and deposit accounts. Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount. The notes form part of these financial statements Page 9 ## **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD Charity Number: 215518** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## **1) Accounting Policies - continued** ## **Judgement and key sources of estimation or uncertainty** The preparation of the financial statements requires the trustees to make judgements, estimates and assumptions that affect the amount reported for assets and liabilities at the balance sheet date and the amounts reported for revenue and expenses during the year. However the nature of estimation means that actual outcomes could differ to those estimates. The main judgement and accounting estimates included in the financial statements is accruals. The trustees have made estimates to establish costs in respect of potential liabilities at the balance sheet date. ## **Fund Accounting** _**Unrestricted funds**_ are available for use at the discretion of the trustees in the furtherance of the general objectives of the charity. _**Restricted funds**_ are to be used for the specific purposes as laid down by the donor and may not be used for any other purpose. _**Designated funds**_ are those set aside by the trustees for hospital projects requiring specialised equipment. ## **2) Taxation** No liability to taxation arises as the charity is exempt from income tax and capital gains tax. ## **3) Investment Income** |**3) Investment Income**||| |---|---|---| ||**2024**|**2023**| |Interest and dividends received|£40,164|£37,322| ||=====|=====| |**4) Donations & Legacies**||| ||**2024**|**2023**| |Donations and gifts|2,248|740| |Legacies|0|14,069| ||______|_____| ||£2,248|£14,809| ||=====|=====| |Subscriptions|1,066|1,013| |Gift Aid tax|623|885| ||______|_____| ||£1,689|£1,898| ||======|======| The notes form part of these financial statements Page 10 ## **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD Charity Number: 215518** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## **5) Direct Charitable Expenditure** |**5) Direct Charitable Expenditure**||| |---|---|---| ||**2024**|**2023**| |Hospital equipment|76,833|82,747| |Fish tank maintenance|2,994|2,666| ||_______|_______| ||£79,827|£85,413| ||======|=====| |**6) Support and Governance Costs**||| ||**2024**|**2023**| |Printing, postage and stationery|193|209| |Independent examiners fee|1,518|1,518| |Trustee expenses|0|0| ||______|_____| ||£1,711|£1,727| ||=====|=====| ## **7) Independent Examiner’s Remuneration** The independent examiner’s remuneration for services was £1,518 (2023 - £1,518). ## **8) Trustees Remuneration and Reimbursed Expenses** No trustee received any remuneration for their duties or for any other services provided to the league. Trustees are reimbursed expenses incurred on behalf of the league when supported by documentation. The notes form part of these financial statements Page 11 ## **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD Charity Number: 215518** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## **9) Fixed Asset Investment** Investments comprise 44,626.71 units in M & G Charifund Income Fund (2023 – 44,626.71). ||**2024**|**2023**| |---|---|---| |**Cost:**||| |At 1 January 2024|645,676|545,676| |Additions|0|100,000| ||_______|_______| |At 31 December 2024|£645,676|£645,676| ||=======|=======| |**Market value at 1/1/24**|640,389|561,580| |Units purchased|0|100,000| |Revaluation|16,695|(21,191)| ||_______|_______| |**Market value at 31/12/24**|£657,084|£640,389| ||========|=======| |**10) Creditors, amounts falling due within one year**||| ||**2024**|**2023**| |Accruals|15,780|67,069| ||______|______| ||£15,780|£67,069| ||======|=====| |**11) Reserves - Restricted Fund**||| Restricted funds comprise: Corneo Plastics Fund £5,365 (2023 - £5,365) – being donations received for such projects Margaret Duncombe Fund £100 (2023 - £100) – being donations received for the named ward All Plastics Departments Fund £24,024 (2023 - £24,024) ||**2024**|**2023**| |---|---|---| |At 1 January 2024|29,489|29,489| |Incoming resources for year|0|0| |Expenditure for year|0|0| ||______|______| |At 31 December 2024|£29,489|£29,489| ||======|======| The notes form part of these financial statements Page 12 ## **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD Charity Number: 215518** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## **12) Reserves – Designated Fund** |**serves – Designated Fund**||| |---|---|---| ||**2024**|**2023**| |At 1 January 2024|640,389|561,580| |Transfer from unrestricted funds|0|100,000| |Expenditure in the year|0|0| |Investment revaluation|16,695|(21,191)| ||_______|_______| |At 31 December 2024|£657,084|£640,389| ||=======|=======| The designated fund has been set aside by the trustees for hospital projects, to purchase specialised equipment for departments within the hospital. The fund comprises investments at market value £657,084 (2023 - £640,389). Included in designated funds is a revaluation reserve of £11,408 (2023: (£5,287)). ## **13) Reserves – Unrestricted Fund** |**serves – Unrestricted Fund**||| |---|---|---| ||**2024**|**2023**| |At 1 January 2024|36,123|169,234| |Income for year|44,101|54,029| |Expenditure for year|(81,538)|(87,140)| |Transfer to designated fund|0|(100,000)| ||_______|_______| |At 31 December 2024|£(1,314)|£36,123| ||=======|=======| ## **14) Grants approved at the year end** At 31 December 2024 the trustees had reviewed and approved no grant applications from the Queen Victoria Hospital for hospital projects (2023 - £54,000). Accruals have been made in the financial statements for grants approved in 2024 where invoices have been received in January 2025. These amount to £14,262 see note 10 (2023 - £65,552). Unless the final cost is known at the year end no accrual is made in the financial statements. The notes form part of these financial statements Page 13 ## **THE LEAGUE OF FRIENDS OF THE QUEEN VICTORIA HOSPITAL EAST GRINSTEAD Charity Number: 215518** ## **Income and Expenditure Account for the Year Ended 31 December 2024 (for information of the Trustees only)** |||**2024**||**2023**| |---|---|---|---|---| ||**£**|**£**|**£**|**£**| |**Income**||||| |Donations received||1,507||740| |Donations in memory||741||0| |Subscriptions received||1,066||1,013| |Interest received||40,164||37,322| |Legacy||0||14,069| |Gift aid tax reclaimed||623||885| |||______||______| |||44,101||54,029| |**Expenditure**||||| |Direct charitable expenditure|79,827||85,413|| |Independent examiner’s fee|1,518||1,518|| |Postage and printing re AGM|193||209|| |Trustee expenses|0||0|| ||______|81,538|_____|87,140| |||______||_______| |**Surplus/(deficit) for the yea**r||£(37,437)||£(33,111)| |||======||=======| Page 14