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2022-12-31-accounts

Charity registration number 217182

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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 2022

The Trustees present their annual report and financial statements for the year ended 31 December 2022.

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.

Supporting a voluntary group providing help and welfare to local residents

Awarded grants to Healthcare workers to help fund professional development.

Financial review

The reserves currently held are £1,529,385. 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 2022

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

26 September 2023

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 2022.

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: 26 September 2023

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2022 2021
Notes £ £
Income from:
Investments 2 43,935 42,216
Expenditure on:
Charitable activities 3 9,130 85,546
Net gains/(losses) on investments 7 (190,574) 204,431
Net (expenditure)/income for the year/
Net movement in funds (155,769) 161,101
Fund balances at 1 January 2022 1,685,154 1,524,053
Fund balances at 31 December 2022 1,529,385 1,685,154

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 2022

Notes
Fixed assets
Investments
9
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		 2022
£
£
1,448,707
80,858
(180)
80,678
1,529,385
1,529,385
1,529,385		 2021
£
£
1,639,281
46,041
(168)
45,873
1,685,154
1,685,154
1,685,154		 2021
£
£
1,639,281
46,041
(168)
45,873
1,685,154
1,685,154
1,685,154
1,685,154
1,685,154
1,685,154

The financial statements were approved by the Trustees on 26 September 2023

Dr R D Scholefield Trustee

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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 2022

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 2022

2 Investments

**Unrestricted ** Unrestricted
funds funds
general general
2022 2021
£ £
Interest receivable 43,935 42,216

3 Charitable activities

Charitable Charitable
Activities Activities
2022 2021
£ £
Water cooler supplies 876 64
Equipment purchases - 78,946
Hospital staff course fees 5,157 5,448
Health and welfare 2,000 -
8,033 84,458
Share of support costs (see note 4) 905 920
Share of governance costs (see note 4) 192 168
9,130 85,546

4 Support costs

Support
costs
Governance
costs
£
£
Insurance
335
-
Accounting software
150
-
Honoraria and general
expenses
-
-
Website costs
420
-
Independent examiners
fees
-
192
905
192
Analysed between
Charitable activities
905
192		 2022
Support
costs
Governance
costs
£
£
£
335
335
-
150
150
-
-
15
-
420
420
-
192
-
168
1,097
920
168
1,097
920
168		 2021
£
335
150
15
420
168
1,088
1,088

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

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:

2022 2021
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
2022 2021
£ £
Gain/(loss) on Fixed Asset investments (190,574) 204,431

8 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

9 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 January 2022 & 31 December 2022 1,639,281
Carrying amount
At 31 December 2022 1,639,281
At 31 December 2021 1,639,281

FRIENDS OF LEDBURY & DISTRICT HEALTHCARE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

10
Creditors: amounts falling due within one year
Accruals and deferred income
11
Related party transactions		 2022
£
180		 2021
£
168

There were no disclosable related party transactions during the year (2021 - none).