REGISTERED CHARITY NUMBER: 226983
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
THE FRIENDS OF THE WISBECH HOSPITALS
Wheelers
Chartered Accountants & Tax Consultants 27-29 Old Market Wisbech Cambridgeshire PE13 1NE
THE FRIENDS OF THE WISBECH HOSPITALS
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
THE FRIENDS OF THE WISBECH HOSPITALS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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
Objectives and aims
The Friends foster and maintain the interest of the public in the patients and the support of the work of the Wisbech Hospitals by means of voluntary service.
The Friends raise funds to provide amenities and equipment to benefit patients and staff at North Cambs Hospital and associated homes and clinics in Wisbech.
Public benefit
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing aims and objectives and in planning future activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year the charity has made payments to the Arthur Rank Hospice and North Cambs Hospital towards the provision of hospital equipment and improvements. A donation was made to The Queen Elizabeth Hospital Trust's Dementia Care Appeal.
Investment performance
Investments have decreased in value from £134,199 to £123,781, an unrealised loss of £10,418.
FINANCIAL REVIEW
Financial position
As at 31 March 2022, the total unrestricted funds of the charity amounted to £742,228 (2021- £630,762). Included within donations received is an amount of £110,004 representing the value of assets received from the closure of The Wisbech and Walsoken Sick Poor Charities (charity no. 207461). During the year, the charity has become entitled to legacies of £30,635.
Reserves policy
Reserves are maintained in order to fund future charitable expenditure without selling the charity's long-term investment assets. Included within reserves are the funds to be able to meet the pledges as disclosed within Contingent Liabilities note 15 to the financial statements.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is governed by a Constitution and Rules adopted on 20 April 1953 and was registered as a charity on 16 October 1963. The Constitution was revised on 22 July 2016.
Recruitment and appointment of new trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution and Rules.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
226983
Principal address
North Cambs Hospital The Park Wisbech Cambridgeshire PE13 3AB
Page 1
THE FRIENDS OF THE WISBECH HOSPITALS
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2022
Trustees
M Bruce Chairman S Coales Vice chair Rev G Stevens Treasurer N Tilbrook B Williams S Bruce P Maguire P Barber W Smith B Beales S Beales M Albone (resigned 24.9.21) I Albone (resigned 24.9.21)
Independent Examiner
Helen Garrett BA FCA CTA Cert PMI Wheelers Chartered Accountants & Tax Consultants 27-29 Old Market Wisbech Cambridgeshire PE13 1NE
Approved by order of the board of trustees on 22 July 2022 and signed on its behalf by:
M Bruce - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FRIENDS OF THE WISBECH HOSPITALS
Independent examiner's report to the trustees of The Friends of the Wisbech Hospitals
I report to the charity trustees on my examination of the accounts of The Friends of the Wisbech Hospitals (the Trust) for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's 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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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.
Helen Garrett BA FCA CTA Cert PMI Wheelers Chartered Accountants & Tax Consultants 27-29 Old Market Wisbech Cambridgeshire PE13 1NE
22 July 2022
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THE FRIENDS OF THE WISBECH HOSPITALS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| 31.3.22 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 148,339 Investment income 3 6,136 Other income 44 Total 154,519 EXPENDITURE ON Charitable activities 4 Provision of hospital equipment and improvements 21,794 Grants payable to institutions 10,000 Other 841 Total 32,635 Net gains/(losses) on investments (10,418) NET INCOME/(EXPENDITURE) 111,466 RECONCILIATION OF FUNDS Total funds brought forward 630,762 TOTAL FUNDS CARRIED FORWARD 742,228 |
31.3.21 Total funds £ 9,436 10,545 141 20,122 15,410 5,000 881 21,291 (3,154) (4,323) 635,085 630,762 |
|---|---|
The notes form part of these financial statements
Page 4
THE FRIENDS OF THE WISBECH HOSPITALS
BALANCE SHEET
31 MARCH 2022
| 31.3.22 Unrestricted funds Notes £ FIXED ASSETS Investments Investments 9 123,781 Investment property 10 50,000 173,781 CURRENT ASSETS Debtors 11 20,115 Investments 12 300,341 Cash at bank 248,722 569,178 CREDITORS Amounts falling due within one year 13 (731) NET CURRENT ASSETS 568,447 TOTAL ASSETS LESS CURRENT LIABILITIES 742,228 NET ASSETS 742,228 FUNDS 14 Unrestricted funds 742,228 TOTAL FUNDS 742,228 |
31.3.21 Total funds £ 134,199 50,000 184,199 - 300,326 146,957 447,283 (720) 446,563 630,762 630,762 630,762 630,762 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 22 July 2022 and were signed on its behalf by:
M Bruce - Trustee
G Stevens - Trustee
The notes form part of these financial statements
Page 5
THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the 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, as modified by the revaluation of certain assets.
The presentation currency of the financial statements is the Pound Sterling (£), the accounts are rounded to the nearest Pound.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either, the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Interest receivable on funds held on deposit is included when receivable and the amount can be measured reliably: this is normally upon notification of the interest paid or payable by the bank.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 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.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Investments
Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.
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.
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continued...
THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES - continued
Going concern
The trustees believe that the Charity is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2. DONATIONS AND LEGACIES
3.
| Donations Legacies Memorials INVESTMENT INCOME Rents received Deposit account interest Income from investments |
31.3.22 £ 117,604 30,635 100 148,339 31.3.22 £ 1,070 765 4,301 6,136 |
31.3.21 £ 9,286 - 150 |
31.3.21 £ 9,286 - 150 |
|---|---|---|---|
| 9,436 | |||
| 31.3.21 £ 1,070 4,098 5,377 10,545 |
|||
| 10,545 |
4. CHARITABLE ACTIVITIES COSTS
| Provision of hospital equipment and improvements Grants payable to institutions |
Grant funding of activities Support Direct (see note costs (see Costs 5) note 6) £ £ £ 21,503 - 291 - 10,000 - 21,503 10,000 291 |
Totals £ 21,794 10,000 |
|---|---|---|
| 31,794 |
continued...
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THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
5. GRANTS PAYABLE
| GRANTS PAYABLE | ||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Grants payable to institutions | 10,000 | 5,000 |
The grant paid during the year was to The Queen Elizabeth Hospital Dementia Care Appeal.
6. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Governance | |||
| Management | costs | Totals | |
| £ | £ | £ | |
| Other resources expended | - | 841 | 841 |
| Provision of hospital equipment and | |||
| improvements | 291 | - | 291 |
| 291 | 841 | 1,132 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
Trustees' expenses in respect of postage and stationery for the year ended 31 March 2022 were paid to two trustees amounting to £206 (2021 - £169).
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 9,436 |
| Investment income | 10,545 |
| Other income | 141 |
| Total | 20,122 |
| EXPENDITURE ON | |
| Charitable activities | |
| Provision of hospital equipment and | |
| improvements | 15,410 |
| Grants payable to institutions | 5,000 |
| Other | 881 |
| Total | 21,291 |
| Net gains/(losses) on investments | (3,154) |
| NET INCOME/(EXPENDITURE) | (4,323) |
continued...
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THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|
| Unrestricted | ||
| funds | ||
| £ | ||
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 635,085 | |
| TOTAL FUNDS CARRIED FORWARD | 630,762 | |
| 9. | FIXED ASSET INVESTMENTS | |
| Listed | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1 April 2021 | 134,199 | |
| Revaluations | (10,418) | |
| At 31 March 2022 | 123,781 | |
| NET BOOK VALUE | ||
| At 31 March 2022 | 123,781 | |
| At 31 March 2021 | 134,199 | |
| There were no investment assets outside the UK. | ||
| Cost or valuation at 31 March 2022 is represented by: | ||
| Listed | ||
| investments | ||
| £ | ||
| Valuation in 2022 | 123,781 | |
| 10. | INVESTMENT PROPERTY | |
| £ | ||
| FAIR VALUE | ||
| At 1 April 2021 | ||
| and 31 March 2022 | 50,000 | |
| NET BOOK VALUE | ||
| At 31 March 2022 | 50,000 | |
| At 31 March 2021 | 50,000 |
The trustees have considered the valuation at 31 March 2022 and are of the opinion that the value of the Charity's investment property amounted to £50,000.
continued...
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THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 12. CURRENT ASSET INVESTMENTS Fixed term bank deposit 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 14. MOVEMENT IN FUNDS At 1.4.21 £ Unrestricted funds General fund 630,762 TOTAL FUNDS 630,762 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 154,519 (32,635) TOTAL FUNDS 154,519 (32,635) Comparatives for movement in funds At 1.4.20 £ Unrestricted funds General fund 635,085 TOTAL FUNDS 635,085 |
31.3.22 £ 20,115 31.3.22 £ 300,341 31.3.22 £ 731 Net movement in funds £ 111,466 111,466 Gains and losses £ (10,418) (10,418) Net movement in funds £ (4,323) (4,323) |
||
|---|---|---|---|
continued...
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THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
14. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 20,122 | (21,291) | (3,154) | (4,323) |
| TOTAL FUNDS | 20,122 | (21,291) | (3,154) | (4,323) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.20 £ 635,085 635,085 |
Net movement in funds £ 107,143 107,143 |
At 31.3.22 £ 742,228 |
|---|---|---|---|
| 742,228 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 174,641 174,641 |
Resources expended £ (53,926) (53,926) |
Gains and Movement losses in funds £ £ (13,572) 107,143 (13,572) 107,143 |
Gains and Movement losses in funds £ £ (13,572) 107,143 (13,572) 107,143 |
|---|---|---|---|---|
| 107,143 |
15. CONTINGENT LIABILITIES
As noted in the Trustees Report, pledges have been made to North Cambs Hospital towards the next stage of re-development of £300,000. The pledges will be paid on receipt of invoices, which are open for an unlimited period but maybe withdrawn at any time. As at 31 March 2022, the conditions upon which the pledges are made were not satisfied and as such, these are recognised as contingent liabilities.
continued...
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THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
16. RELATED PARTY DISCLOSURES
During the year the charity received a donation amounting to £110,004 which represents the value of assets received from the closure of The Wisbech and Walsoken Sick Poor Charities (charity no. 207461). One of the trustees of this charity is also a trustee of The Friends of the Wisbech Hospitals.
Page 12
THE FRIENDS OF THE WISBECH HOSPITALS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| 31.3.22 | 31.3.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 117,604 | 9,286 |
| Legacies | 30,635 | - |
| Memorials | 100 | 150 |
| 148,339 | 9,436 | |
| Investment income | ||
| Rents received | 1,070 | 1,070 |
| Deposit account interest | 765 | 4,098 |
| Income from investments | 4,301 | 5,377 |
| 6,136 | 10,545 | |
| Other income | ||
| Sundry sales & collections | 44 | 141 |
| Total incoming resources | 154,519 | 20,122 |
| EXPENDITURE | ||
| Charitable activities | ||
| Provision of hospital equipment & improvements | 21,503 | 15,104 |
| Grants to institutions | 10,000 | 5,000 |
| 31,503 | 20,104 | |
| Support costs | ||
| Management | ||
| Insurance | 182 | 178 |
| Postage and stationery | 109 | 128 |
| 291 | 306 | |
| Governance costs | ||
| Sundries | 97 | 41 |
| Independent Examiner fee | 744 | 840 |
| 841 | 881 | |
| Total resources expended | 32,635 | 21,291 |
| Net income/(expenditure) before gains and | ||
| losses | 121,884 | (1,169) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset investments | (10,418) | (3,154) |
| Net income/(expenditure) | 111,466 | (4,323) |
This page does not form part of the statutory financial statements
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