REGISTERED CHARITY NUMBER: 226983
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 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 | to | 14 |
THE FRIENDS OF THE WISBECH HOSPITALS
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES M Bruce Chairman S Coales Vice chair (deceased 15.11.23) Rev G Stevens Treasurer N Tilbrook B Williams S Bruce P Maguire P Barber W Smith B Beales S Beales S Bellamy H Powell PRINCIPAL ADDRESS 4 Chaucer Close Leverington Wisbech Cambridgeshire PE13 5AZ
REGISTERED CHARITY NUMBER 226983
INDEPENDENT EXAMINER
Wheelers Chartered Accountants & Tax Consultants 27-29 Old Market Wisbech Cambridgeshire PE13 1NE
Page 1
THE FRIENDS OF THE WISBECH HOSPITALS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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 North Cambs Hospital towards the provision of hospital equipment and improvements.
FINANCIAL REVIEW
Financial position
As at 31 March 2024, the total unrestricted funds of the charity amounted to £755,431 (2023- £893,710). A sum of £400,000 towards the development of part of North Cambs Hospital, was designated in the year ended 31 March 2023. During this year £148,527 has been spent, leaving a balance amounting to £251,473.
Reserves policy
Reserves are maintained in order to fund future charitable expenditure and have been split into a General fund (representing free reserves for the charity to spend as required) and Designated fund (representing money set aside for a project at North Cambs Hospital) disclosed within the Contingent Liabilities note 14 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.
Approved by order of the board of trustees on 2 August 2024 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 2024.
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
5 August 2024
Page 3
THE FRIENDS OF THE WISBECH HOSPITALS
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
| 31.3.24 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 43,501 Investment income 3 13,510 Other income 55 Total 57,066 EXPENDITURE ON Charitable activities 4 Donation - Alan Hudson Day Treatment Centre 250 Provision of hospital equipment and improvements 193,474 Grants payable to institutions - Other 1,621 Total 195,345 Net gains on investments - NET INCOME/(EXPENDITURE) (138,279) RECONCILIATION OF FUNDS Total funds brought forward 893,710 TOTAL FUNDS CARRIED FORWARD 755,431 |
31.3.23 Total funds £ 8,419 9,277 - 17,696 - 8,503 5,000 1,621 15,124 148,910 151,482 742,228 893,710 |
|---|---|
The notes form part of these financial statements
Page 4
THE FRIENDS OF THE WISBECH HOSPITALS
BALANCE SHEET
31 MARCH 2024
| 31.3.24 Unrestricted funds Notes £ CURRENT ASSETS Debtors 10 2,296 Investments 11 356,993 Cash at bank 438,651 797,940 CREDITORS Amounts falling due within one year 12 (42,509) NET CURRENT ASSETS 755,431 TOTAL ASSETS LESS CURRENT LIABILITIES 755,431 NET ASSETS 755,431 FUNDS 13 Unrestricted funds 755,431 TOTAL FUNDS 755,431 |
31.3.23 Total funds £ 4,424 650,025 245,119 899,568 (5,858) 893,710 893,710 893,710 893,710 893,710 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 2 August 2024 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 2024
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.
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.
continued...
Page 6
THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES - continued
Fund accounting
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.
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 AND LEGACIES | ||
|---|---|---|
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| Donations | 8,001 | 7,549 |
| Legacy | 35,000 | - |
| Memorials | 500 | 870 |
| 43,501 | 8,419 | |
| INVESTMENT INCOME | ||
| Rents received | 31.3.24 £ - |
31.3.23 £ 535 |
| Deposit account interest | 13,510 | 5,416 |
| Income from investments | - | 3,326 |
| 13,510 | 9,277 |
continued...
Page 7
THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
4. CHARITABLE ACTIVITIES COSTS
| Grant funding of activities Direct (see note Costs 5) £ £ Donation - Alan Hudson Day Treatment Centre - 250 Provision of hospital equipment and improvements 193,474 - 193,474 250 5. GRANTS PAYABLE 31.3.24 £ Donation - Alan Hudson Day Treatment Centre 250 Grants payable to institutions - 250 6. SUPPORT COSTS Governance Management costs £ £ Other resources expended 811 810 7. INDEPENDENT EXAMINERS REMUNERATION 31.3.24 £ Remuneration 810 |
Grant funding of activities Direct (see note Costs 5) £ £ Donation - Alan Hudson Day Treatment Centre - 250 Provision of hospital equipment and improvements 193,474 - 193,474 250 5. GRANTS PAYABLE 31.3.24 £ Donation - Alan Hudson Day Treatment Centre 250 Grants payable to institutions - 250 6. SUPPORT COSTS Governance Management costs £ £ Other resources expended 811 810 7. INDEPENDENT EXAMINERS REMUNERATION 31.3.24 £ Remuneration 810 |
Grant funding of activities Direct (see note Costs 5) £ £ Donation - Alan Hudson Day Treatment Centre - 250 Provision of hospital equipment and improvements 193,474 - 193,474 250 5. GRANTS PAYABLE 31.3.24 £ Donation - Alan Hudson Day Treatment Centre 250 Grants payable to institutions - 250 6. SUPPORT COSTS Governance Management costs £ £ Other resources expended 811 810 7. INDEPENDENT EXAMINERS REMUNERATION 31.3.24 £ Remuneration 810 |
Grant funding of activities Direct (see note Costs 5) £ £ Donation - Alan Hudson Day Treatment Centre - 250 Provision of hospital equipment and improvements 193,474 - 193,474 250 5. GRANTS PAYABLE 31.3.24 £ Donation - Alan Hudson Day Treatment Centre 250 Grants payable to institutions - 250 6. SUPPORT COSTS Governance Management costs £ £ Other resources expended 811 810 7. INDEPENDENT EXAMINERS REMUNERATION 31.3.24 £ Remuneration 810 |
Totals £ 250 193,474 193,724 31.3.23 £ - 5,000 5,000 Totals £ 1,621 |
|
|---|---|---|---|---|---|
| 31.3.24 £ 810 |
31.3.23 £ 816 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration for the year ended 31 March 2024 (31 March 2023 £Nil).
2 trustees received gifts that amounted to £76 in the year ended 31 March 2024 (31 March 2023 £92)
continued...
Page 8
THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
8. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses
The charity took out Trustee insurance which amounted to £185 (2023 £182)
Trustees' expenses in respect of postage and stationery, travelling and telephone for the year ended 31 March 2024 were paid to two trustees amounting to £378 (2023 - £328).
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 8,419 |
| Investment income | 9,277 |
| Total | 17,696 |
| EXPENDITURE ON | |
| Charitable activities | |
| Provision of hospital equipment and | |
| improvements | 8,503 |
| Grants payable to institutions | 5,000 |
| Other | 1,621 |
| Total | 15,124 |
| Net gains on investments | 148,910 |
| NET INCOME | 151,482 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 742,228 |
| TOTAL FUNDS CARRIED FORWARD | 893,710 |
continued...
Page 9
THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accrued income 11. CURRENT ASSET INVESTMENTS Fixed term bank deposit 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 13. MOVEMENT IN FUNDS Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 493,710 (138,279) NCH Phase 4 Development fund 400,000 - 893,710 (138,279) TOTAL FUNDS 893,710 (138,279) Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 57,066 TOTAL FUNDS 57,066 |
31.3.24 £ 2,296 31.3.24 £ 356,993 31.3.24 £ 42,509 Transfers between funds £ 148,527 (148,527) - - Resources expended £ (195,345) (195,345) |
31.3.23 £ 4,424 31.3.23 £ 650,025 31.3.23 £ 5,858 At 31.3.24 £ 503,958 251,473 755,431 755,431 Movement in funds £ (138,279) (138,279) |
|
|---|---|---|---|
continued...
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THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.4.22 in funds £ £ Unrestricted funds General fund 742,228 151,482 NCH Phase 4 Development fund - - 742,228 151,482 TOTAL FUNDS 742,228 151,482 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 17,696 (15,124) TOTAL FUNDS 17,696 (15,124) |
Transfers between At funds 31.3.23 £ £ (400,000) 493,710 400,000 400,000 - 893,710 - 893,710 Gains and Movement losses in funds £ £ 148,910 151,482 148,910 151,482 |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund NCH Phase 4 Development fund TOTAL FUNDS |
At 1.4.22 £ 742,228 - 742,228 742,228 |
Net movement in funds £ 13,203 - 13,203 13,203 |
Transfers between funds £ (251,473) 251,473 - - |
At 31.3.24 £ 503,958 251,473 755,431 755,431 |
|---|---|---|---|---|
continued...
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THE FRIENDS OF THE WISBECH HOSPITALS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
13. MOVEMENT IN FUNDS - continued
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 £ 74,762 74,762 |
Resources expended £ (210,469) (210,469) |
Gains and Movement losses in funds £ £ 148,910 13,203 148,910 13,203 |
|---|---|---|---|
14. CONTINGENT LIABILITIES
As noted in the Trustees Report, a pledge was made to North Cambs Hospital towards the next stage of re-development during the year ended 31 March 2023 and the trustees designated £400,000 from the general reserves. Pledges are paid on receipt of invoices, which are open for an unlimited period but maybe withdrawn at any time. During this year £148,527 has been paid out. The remaining balance of £251,473 has not been paid and invoices have not been provided. The balance has been carried forward within the designated fund.
15. CAPITAL COMMITMENTS
The trustees have agreed to fund new equipment and improvements in the sum of £41,728 as follows: -
| £ | |
|---|---|
| 6 wheelchairs | 10,783 |
| Stairlift | 28,640 |
| Wall art & graphics | 2,305 |
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
17. CONTINGENT ASSET
The charity has a quarter interest as a residuary beneficiary of an estate. Based upon figures provided on the probate papers the legacy would amount to approximately £85,000 dependent upon costs and the eventual realised value of the property in the estate, which has yet to be determined. As the trustees are unable at this time to quantify the amount the charity will eventually receive, they have not accrued any income from the legacy at this point. During the year the charity received an interim payment of £35,000, which is shown as income from legacy in the accounts.
Page 12
THE FRIENDS OF THE WISBECH HOSPITALS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| 31.3.24 | 31.3.23 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 8,001 | 7,549 |
| Legacy | 35,000 | - |
| Memorials | 500 | 870 |
| Investment income | 43,501 | 8,419 |
| Rents received | - | 535 |
| Deposit account interest | 13,510 | 5,416 |
| Income from investments | - | 3,326 |
| Other income | 13,510 | 9,277 |
| Sundry sales & collections | 55 | - |
| Total incoming resources | 57,066 | 17,696 |
| EXPENDITURE | ||
| Charitable activities | ||
| Provision of hospital equipment & improvements | 193,474 | 8,503 |
| Grants to institutions | 250 | 5,000 |
| Support costs | 193,724 | 13,503 |
| Management | ||
| Insurance | 185 | 182 |
| Telephone | 98 | 70 |
| Postage and stationery | 262 | 304 |
| Sundries | 155 | 136 |
| Mileage expenses | 111 | 113 |
| Governance costs | 811 | 805 |
| Independent Examiner fee | 810 | 816 |
| Total resources expended | 195,345 | 15,124 |
| Net (expenditure)/income before gains and | ||
| losses | (138,279) | 2,572 |
This page does not form part of the statutory financial statements
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THE FRIENDS OF THE WISBECH HOSPITALS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
| 31.3.24 | 31.3.23 | ||
|---|---|---|---|
| £ | £ | ||
| Realised recognised gains and losses | |||
| Realised gains/(losses) on fixed asset investments | - | (16,084) | |
| Realised gains/(losses) on investment property | - | 164,994 | |
| Net (expenditure)/income | (138,279) | 151,482 | |
This page does not form part of the statutory financial statements
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