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2021-12-31-accounts

Charity registration number 217182

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Dr R D Scholefield
Mr L E Davies
Mr M Blandford
Mrs S M Roig
Dr D M Lloyd
Mr C Masefield
Dr B Herriot
Dr N P Meyer
Charity number 217182
Independent examiner Leadon Valley Accountancy Ltd
Ledbury Business Centre
136 Bridge Street
Ledbury
Herefordshire
England
HR8 2AS

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 10

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their annual report and financial statements for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in the financial statements and comply with the Charity's governing document, a deed of trust, the Charities Act 2011 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)".

Objectives and activities

To apply the income, and at the discretion of the Trustees, the capital of the trust fund to support Healthcare work in Ledbury and District by:-

a) The relief of patients who are sick, convalescent, disabled, handicapped, infirm or in the need of financial assistance

b) The relief of sickness in the locality by promoting the efficient performance of their duties by Healthcare workers

Public benefit

Friends of Ledbury and District Healthcare are a public benefit entity.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Achievements and performance

The main achievements during the year:

Providing water cooler supplies to Ledbury Health and Care Centre.

Supply of equipment to GP surgeries in the district

Supply of equipment to other groups in the district

Awarded grants to Healthcare workers to help fund professional development.

Financial review

The reserves currently held are £1,685,154. These are considered sufficient to generate adequate income to

meet the objectives of the charity.

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The Charity is unincorporated.

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees who served during the year and up to the date of signature of the financial statements were: Dr R D Scholefield

Mr L E Davies Mr M Blandford Mrs S M Roig Dr D M Lloyd Mr C Masefield Dr B Herriot Dr N P Meyer

Recruitment and appointment of trustees

Appointments are made on the recommendation of Trustees approved at the Annual General Meeting.

Principal address

C/o Masefield Solicitors LLP Worcester Road Ledbury Herefordshire HR8 1PN

The Trustees' report was approved by the Board of Trustees.

Dr R D Scholefield

Trustee

11 October 2022

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

I report to the Trustees on my examination of the financial statements of Friends of Ledbury & District Healthcare (the Charity) for the year ended 31 December 2021.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Leadon Valley Accountancy Ltd

Ledbury Business Centre 136 Bridge Street Ledbury Herefordshire HR8 2AS England

Dated: 11 October 2022

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2021

**Unrestricted ** Unrestricted
funds funds
2021 2020
Notes £ £
Income from:
Investments 2 42,216 41,523
Expenditure on:
Charitable activities 3 85,546 1,475
Net gains/(losses) on investments 7 204,431 86,615
Net income for the year/
Net movement in funds 161,101 126,663
Fund balances at 1 January 2021 1,524,053 1,397,390
Fund balances at 31 December 2021 1,685,154 1,524,053

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes
Fixed assets
Investments
8
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
10
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds - general		 2021
£
£
1,639,281
46,041
(168)
45,873
1,685,154
1,685,154
1,685,154		 2020
£
£
1,434,850
89,372
(169)
89,203
1,524,053
1,524,053
1,524,053		 2020
£
£
1,434,850
89,372
(169)
89,203
1,524,053
1,524,053
1,524,053
1,524,053
1,524,053
1,524,053

The financial statements were approved by the Trustees on 11 October 2022

Dr R D Scholefield Trustee

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Charity information

Friends of Ledbury & District Healthcare is an Unincorporated charity

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011 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)". The Charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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.

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 £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

2 Investments

Interest receivable
Charitable activities
Water cooler supplies
Equipment purchases
Hospital staff course fees
Share of support costs (see note 4)
Share of governance costs (see note 4)
Support costs
Support
costs
Governance
costs
£
£
Insurance
335
-
Accounting software
150
-
Honoraria and general
expenses
15
-
Website costs
420
-
Independent examiners
fees
-
168
920
168
Analysed between
Charitable activities
920
168		 Unrestricted
Unrestricted
funds
funds
general
general
2021
2020
£
£
42,216
41,523
Charitable
Activities
Charitable
Activities
2021
2020
£
£
64
412
78,946
-
5,448
-
84,458
412
920
895
168
168
85,546
1,475
2021
Support
costs
Governance
costs
2020
£
£
£
£
335
330
-
330
150
150
-
150
15
19
-
19
420
396
-
396
168
-
168
168
1,088
895
168
1,063
1,088
895
168
1,063

3 Charitable activities

4 Support costs

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

5 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

6 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

7 Net gains/(losses) on investments

Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Gain/(loss) on Fixed Asset investments 204,431 86,615
8 Fixed asset investments
Listed
investments
£
Cost or valuation
At 1 January 2021 1,434,850
Valuation changes 204,431
At 31 December 2021 1,639,281
Carrying amount
At 31 December 2021 1,639,281
At 31 December 2020 1,434,850
9 Financial instruments 2021 2020
£ £
Carrying amount of financial assets
Instruments measured at fair value through profit or loss 1,639,281 1,434,850

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

10
Creditors: amounts falling due within one year
Accruals and deferred income
11
Related party transactions		 2021
£
168		 2020
£
169

There were no disclosable related party transactions during the year (2020 - none).