REGISTERED CHAR17Y NUMBER: 229151 REPORTOFTHETRUSFEESAND UNAUDITED FINANCIALsfATEMÉNTS FOR ThE YEAR ENDED31 DECEMBER 2024 FOR FRIENDS OFSTMARY'S HOSPffAL Bright Brown Limited Charte Accountsnts Exehange H0ts5e St. Cross Lane Newport Isle of WEht P030 5BZ
FRIENDS OF ST MARY'S HOSPITAL CONTEr5 OF THE FINANCIAL STATEMENTS FOR ThE YEAR ENDED 31 DECEMBER 2024 Page Referen and AdminFstrative Details Report of the Trustees 2 to Independont Examiner'5 Report 5tstement of Finaftoal Artivitye5 Balance Sheet Notes to the Financtal Statemet7ts B to Detailèd Statement of Finan¢ial Actlvltles 16 to 17 Provlsions for Mospltal Purchases 18
FRIENDS OFST MARYS HOSPffAL REFERENCE AND ADMINisfRATIVE OETAILS FOR THE YEAR ENDED 31 DECEMBER2024 TrusrEES Mrssj J Leg8 MrG Modione Iresi8ned 21.5241 Mrs L Myland hArsJ Reeve Mrs A EdEson MTS VTomlingon Mrs P Smith PRINapALADDRESS Administratlon Cotts8e St Mary's Hospital Newport Isle of Wight P030 5TG REGisfERED CHARITY NUMBER 229151 INDEPENDEirr EXAMINER Bright Brown Lrmtted Chartered Acmuntsnts Exchange House St. Cross Lane Newport Ie of Wight PO20 SBZ P3g¢ I
FRtEND5 OF ST MARYS HOsPAL REPORTOFTHETRUSTEES FOR THEYEAR ENDED 31 DECEMBER2024 The trustses present thdr rèport wlth the financial statements of the charity for the year ended 31 Detsmber 2024. The tru5t¢es have adopted the provision5 of Accounting and Reporting by Charitiè5: Ststemernt ¢f Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FR5 1021 (effective IJHnuary 20191. OBJECTIVESANDACTtvmE5 Objectyve5 and aims The money raised by the Friends is to lIeVe and assist patients of St Mary's Hospitrdl and all NHS services within the communityof the Isle of Wighl through grants for equipment and improwngfa¢ilities forpatients. ACHIEVEMENTAND PERFORMANCE Chayltablè attivities 2024 has been anirther very encourèging year for the Friends of St Mary's Htssplt21. We have been able tg rely on our shop activrties as a major source of funding and in addition have recewed support from legacies, fundraising by a Trust 5t2ff group. and local organsations such a5 Womens. 1nst1tirt. Westridge Golf Club and the Melodic Choir. And of course, our collection boKes and otherspont3neous donètions have helped us to tsrry on with our objective to support 5t Mary's Hospitsl staff and patient The retsil division's report wtll be submitted in a separate document, but this report is the pla tts recognise the huge effort of our retail manager, volvnteers and directors. They have continued their rebuild of the retail ami of the Friends of St Marys and largely due to this team. the Charity remains robust and able to tontinue in its aim to support st Mèr¥s Hospital. The landscape whleh we work within has thanged in 202Q The Isle of Wight NHS Trust work5 in partnership with Portsmrth Hospitals Llniversity NHS Trust sharing an executive teattL The Trusts each have a charity and these ère overwn by a Head of Charity b85ed in Portsmouth. who has made great effortsto support Us and workwrh us. We have seen the formation of the Hamp5hirÈ and 151e cf Wight Healthcare NHS Foundation Trust in 202Q This Trust oversees aspects of community, ment31 health and learning (JisabilFtie5 across the Hampshire at)d the Ie of Wight. It incl¢sdes for example. Children's, Speech and Lan8U3ge prowsion. We have funded items such departments i)ver the years and can no longer do so, even if the tatment is proMded on the St Mary's Campus to Islanders. We wish the new Trust's own Charity Suc$ in supporting many of the departments which it has given us such pleasure to help in the past The IOW NHS Trust LTrpened a new diagnostic facillty the North hosp1 during 2024. This may threaten oyr footfau somewhat going forward as pètients go str2itht to ihe North for their appointments. However, the new A and E departrnent and a new Children's, A and E are now completed. These are still very dose to us, and having Costs next doorto us does bring peopleto our end af the hospital. Our team of Trustees remain5 Stable rf smaller than we might wish. We have a good range of expertise and experlen and with the excellent organisational skills of BUsIesS Man%er Debs Downer, we run Smooth 2nd effective. A prlority for 2025 will be tts augmenttheteam of Trustees. We hzve prt)ded with procurement through the finance department ordering of equipment and facilities for St Mary's H05pitsI, amounting to £26,9SO during 2024.Thi5 has as ever been a team effort between all at the FrÈend5, the stsff at the Trust who encourydge us and work with us to see that our efft)rts go to good use. and the hu8ely supportwe Hospital financeteam whoguide us and en5urethat wegetydlue for money. Page 2
FRIENDS OFST MARY'S HOSPITAL REPORT OFTHETRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 We were 3831n pleased to bé able to deliver sm311 gifts to tho in the TS rare for Christmas 2024. and to those on duty to look after them. We had ta increase the budget thls year. Partly due to the hugeEy increased wst of the it¢ms we wènted to buy, but also due to Sheer numbers in the hospitral'5 care. Thanks to those in the team who 8ave their time to PUhaSe. wrap and deliver stsrr 350 item5 to patients and staff teams just before Xmas day. We move into 2025 wth confidenee. The facilities and eq(tipment we ordered in 2024 15 trickling in and our reserves remain healthy. We look forward to benning our applitstion process again in April and fiJlfilling our ctsntinuinE objertive to supportthe patients and staff ofst Mary's Hospital. FINANaAL REVIEW Re5eNes policy Reserve5 are needed to cover the worknng capital requirements of the charity, allowing the charity to continue to operate lor to h3ve funds to dose) in the event of a si8nfficant drop in fvndinq. This also ensu that the charity is able to meetany unèxpected costs whith mayarlse. Having considered the natu of any likely costs, the Friend$ of St Mary's Trustses have agreed that the level of the reserves should bè 3 rninimum of £20,tK)O. kwll be formal reVIed annually.. however the Trustees can revlse this amount at anytime accordingto relevant circumstan& Atthe end of the reporting period, total funds held are £153,OC(l of which £1,205 are restri¢t¢d funds and £40 are red assets. leawngfree resetves of £151,755 available, well above the amount required. In making Mnds alIable to the hospital the chBrity operates a bid process whereby fund5 3re allocated to the hpital for specific agreed purchases, and as far as possible all aydilable rese$ above the agreed level are allo(ated for the provision of hospital equipment at that time. By necessity thi5 15 an artrnual process. 2nd $0 by the year end available reserve5 h2ve increased because of income recieved by the charity during the year. These funds will be ayéilable for the provision of hospital equipment in the next round of the bid process. The attached financial statements show the turrent stste of the Frfends, finances which the board tonsider to be sound and which will enable thÈ charity to agree to fvnd equipment purthases in 2025. FIfflJRE PLANS The charity plans to continue the activrtie5 as rjutlined abtsve in the forthwming years subject to satisfactory funding arrangements. stRuRE. GOVERNANCEANO MANAGEME Govemit7gdocument The chartty is Controlled by its governing document a cgnstftution adopted on 24 May 2022, and is an unincorporated chzrTty. Recmitmentand appointment of new trustees Trustees are appointed * the AGM for a period of one year. The number of trustees sh311 be not less than three. If the number falls belowthis minimum the trustees may att onlyto call a meeting of the trustees orto appoint 3 Dew trustee. Risk management The trustees have examined the major str*egi¢ bwiThess and operational risks whlch the charity faS and confim that systems have been established to enable rEgular reports to be produced so that the necessary steps can be taken to less¢n these ris. PaEe 3
FRIENDS OF MARVS HOSPAL REPORT OFTHETRUSTEES FOR THE YEAR ENDED 310EW8ER2024 STRucfiJRE. GOVERNANCEAND MANAGEME Public bener Thè trL15tees of thè Friends tonfirm that they have ¢ompli¢d with their duty to have due regard to the Charity CommtS5ion's guldance on public benefrt and th3t the public benefft requirement has irrforrned the activi(ies of the trusL Approved byorder of the board oftrustees on......... . and signed op) its behalf by: Mrs L Myland-Trustee Fa8e 4
INDEPENDENT EXAMINER'S REP(IRTTOThE7RU¥fEE5 OF FRIENDS OFST MARVS HOSPITAL Independentexaminerfs report tothe trustees of Friends of Stmarvs Hospital I report to the charity trustees on my examir12tion of the 3ccounts of Frtrends of st Mary's Hospttal (the Trust) for the year ended 31 t)ember 202 Responslbililies and bastsof report the charity twstees of the Trust you are responsible for the preparation of the at¢ounts in accordance wth the requirements of the Charities 20111'the Act'l. I report in respect of my examination of the Trust's accounts earried out under Section 145 of the Act 2nd in carrying out my examination I have followed all applitsble Directions given by the Charity Commission under Section 14515llbl of the Att. Independentexamtnes Statement I have completed my examination. I coThfirm that no material matters have come to my attention in connectlon with the o¥amination giving me cause to beli¢ve that in any rnaterial respect.. atcounting record5 were not kept in respect of theTrust 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 appli¢èble requtrements concerning the form and content of accounts set out in the Chartties (Accounts and Reports) Regulètions 2008 other thèn any requ1Ment that the accounts give 3 true and fair view whith is not a matterconsidered as part of an independent examination. I have no concems and have come across no other matters In cOnnertn with the examination to which attention should be drawrt in this rert in orderto enable a proper understanding of the accgunts to be 8Ced. GKel Bright Brown Limited Isle of Wight Page 5
FRIENDS OF ST MARVS HOsPAl srATEMENT OF FfNANCtALAcrivmES FOR TheYEAR ENDED 31 DECEMBER 2024 2024 Total fun(ts 2023 Total fvnds Unrestricted fund Restricted fund5 Notes INCOME AND ENDOWMEKf5 FR(JM l)onations and legacies 41,952 41.952 57,176 Othertrèding activlties Instment income Other income 3,936 1,405 3,796 3,936 1,405 3,796 3.493 789 3,585 Total 51,089 $1,089 65,043 EXPENDITURE ON Charitable attivities Provision of hospital equipment 37.890 37,g90 43,462 INCOME 13.199 ,199 21.581 REcONaLON OF FUNOS Total funds broughtforward 138,596 1.205 139,801 118,220 TOTAL FUND5 CARRIED FORWPRD 151.795 1,205 153,( 139,801 The notesfrjrm part of these finan¢lal statements Page 6
FRIENDS OFST MARY'S HoSPAL BALANCE SHE 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted fund Rtricted fvnds Notes HXED ASSErs Tanble assets Investments 12 13 39 39 49 50 CURRENT ASSETS Debtors- amouE)ts frdlling due within an¢ year Debtors: amounts falling due after morethan one year Cash at bank 14 11.201 IL201 6.592 14 23,COO 128,781 23.000 111.6 127,576 1,205 161,777 1.205 162.982 141,29) Amounts falling due within oneyear 15 11,5501 11,5501 11,5391 NcuRRENTAsSErs 160227 1,205 161,432 139,751 TOTALASSETS LESS CURRENT LIABILFtIES 160,267 1,205 161.472 139.801 PROVISIONS FOR LIABIUllE5 16 18,4721 18,4721 151,795 1.205 153,000 139,801 FUhDS UnrestrKted funds Restricted funds 17 151,795 1.205 138,596 1.205 TOTAL FUNDS IS3, 139.801 The fina ial statements were approved by the 8oaAI of Trustees and authorised for issue . ènd were signed on its behalf by: on Mrs L Myland-Trustee m1J J Legg- Trustee The notes form part of these financial Statements Page 7
FRJENDS OF MARYS HospifAL NOTES TO The FINANaAL sfATEM£iif5 FOR THE YEAR ENDED 31 DEWBER2024 ACCOUMnNG POLiaES Basis of preparingthe finantial statements The financial statements of the Charity, which is a publit benefit entity under FRS 102. have been prepad in accordan with the Charitie5 SORP IFRS 1021 'Accovnting ènd Reporting by Cfrarities.. Statement of Recommended PTBcti applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffertive l January 20151,, and the Charitie5 Art 2011. The financial statements have been prered under the historical cost convention with the exception of investments which a included at market valus. In¢ome Al income is recogni5ed In the 5taternent of Finan031 Activities once the charity has entitlement to the fund5. ft is probable that the income will be reIved and the amount can be measur&1 lIablY. Expenditure Liabilities are recogni5ed hs expeftditure as soon as there is a legal or ¢onstructive obligation committing the charity to that expenditure, it is probable that a tnsfer of etonomic benefts wtll be required in settlement and the 3rrEount of the obli83tion can be measurèd reliably. Expendityre is accounted for on an accruals bas and has been dassified under headings that aggreE3te all cost related to the category. wh c¢)sts cannot be direct attributed to partlcular headings they hawe been allocated to artiviti& on 3 basis consr5tent with the use of resour¢es. Charitable actiwties CDmmitments to the Hospitsl tct frjnd pUr¢SeS are consldtred to be a con5trurtive obli8atiot) and are provided for in the accounts when approved bythe Board. Tan0blef assets Deprèctation is provlded at the following annual rates in order to write off each asset over its estimated useful lrfe. Flre$ and ffttin8S 20% on redtJcing bilan Taxation The chartty is exemptfrom tax on it5 charitable attivities. Fund arcounting Unrestricted funds can be used in accordance with the chartrdble objectives atthe dis¢retion of thetrustees. Restricted fund5 can only be used for particular restrictéd purpo*s within the objects tsf the charity. Restriction5 ari5ewhen sp2£ifJed byth¢ donor orwhen ndS are raised for particutar restricted purposes. Further EAplanation of the nature and purpose of each fund is included in the notesto the financial statemen Pa8e 8 continued...
FRJENDS OF ST MARVS HosprrAL NOTESTO THE FINANaAL STATEMETrn. ¢(rtInued FOR THE YEAR ENDED 31 DECEMBER2024 DONATIONSAND LEGACIES 2024 Total funds 2023 Tcrtal fund5 Unrestrirted funds Restricted fijrjds Donations Gift aid Legacies In memory Donations from tradingsubsidiary L193 I,OS9 1.193 1.059 6,248 20.709 30 39,670 30 39,670 41,952 41,952 S7,176 OTHER TRADING AcnvmES 2024 Totsl funds 2023 Total funds Unrestrirted fvnds Retricted funds Fundraising events Sgcial lotteries Collecting boxes 1,247 1,247 109 2,580 1.850 112 1,531 2.580 3,936 3.936 3,493 INVESTMENTINCOMe 2024 Total funds 2023 Total nds Unrestrictèd fund5 Restrirted funds Deposit account interest 1,405 1,405 789 MER INCOME 2024 Total functs 2023 Totsl fvnds Unrestricted hjnds Restritted fijnds Management charge from tradin8 company 3,796 3,796 3,585 Page 9 continued...
FRIENDS OF ST MARVS HOSPITAI NOTESTO THE FINANQALSTATEMEfr¥fs- continued FOR THEYEAR ENDED 310ECEMBER 2024 CHARALE AcfMTIES COSTS This Compris of hogpital equipment purchased, payments for the communty, MIlIan??uS hpital paymÈnts and general expenses in accordante wsth the tharitys objertive& DIREcf COSTS OF CHARITABLE ACTMTIES 2024 2023 Stsff costs Postsge, stationery and Offi administrdtion Sundries Hospital equipment purchased Depreciation 7,592 593 7.170 459 26.950 io 33.306 36.033 41,548 SUPPORTCOSTS Goveman PrOv10n of hospital equipment 1.857 Support eosts, included in the above, are as fctllows= 2024 Pruvision 2023 h¢pital equipment Total actwiti Actc*untancy fe Attountsncy over accrual 1,862 151 1,812 102 1,£57 1,914 TRUSTEES, REMUNEKAnoN AND BENEFtrs There We no trustees, remvneration or other benefrts for the year ended 31 Deomber 2024 nor for the year ended 31 December 2023. Page 10 continued...
FRIEND5 OF ST MARY'S HOSPITAL NOTESTO THE FINANaALsfATEMENTS- contirtued FOR THE YEAR ENDEO 31 DECEMBER 2024 TrUSFEES' REMUNERATION AND BENEFITS- continued Trustees, expenses The d7aritys insurance covers public, products and eMplor$ liability, trustee indemnity and personal acadent. The cost of thi5 insur3n was £30812023~ £2731. io. STAFF cosrs Th¢ average monthly numberof empl¢yees durin8theyear4s as follows.. 2024 2023 AdmintratiOn No employees received emoluments in excess of É60,CK)O. ii. COMPARATIVES FOR THE sfATEMENTOF HNANOALACTfvmES Unrestricted fund Restritted fvnds Total fund5 INCOMEAND ENDOWMENTS FROM Oonations and legacies 57,176 57,176 othertd1n¥ activities Investment income other income 3.493 789 3.585 3,493 789 3,585 Total 65,0 65.043 EXPENDITURE ON Charitable artyvitles Provision of hospkal ¢quiprnent 43,462 43,462 INcOmE 21,581 2L581 RECONaLiAMON OF FUNDS Total funds brought forward 117,015 L205 118,220 TOTAL FUNDS CARRIED FORWARD 138,596 1,205 139.801 Page 11 continued...
FRIENDS OFST MARY'S HOsPAl NOTESTOThE FINANCIALsfAIENEpifs- ¢ontinued FOR THEYEAR ENDED 31 DECEI¥IBER2024 TANGIBLE FIXED ASSErs FureS and ftttings At I january 2024 and 31 December 2024 150 DEPRECIATION At lJanuary2024 Charge foryear ioi io At 31 December 2024 iii NET BOOKVAWE At 31 December 2024 39 At 31 December2023 49 FIXED ASSEfiNVESTMENTS Shares in group undertakings mARKvAE At ljanuary 20243nd 31 Dember 2024 NET BOOKVALUE At 31 December2024 At 31 December 2023 There We no Investmentassets outside the UL DEBTORS 2024 2023 Amountsklling due within one year. Due fromtradingeompany 11201 6,592 Amounts falling due after Tnorethan one year Due from trading company 23.OCIJ 23,0 Aggre8ate amounts 34,201 29.592 Page 12 tontinued..
FRIENDS OF ST MARW5 HOSPITAt IWJTESTOTHE FINANaALsfATEMENfs. continued FOR ThEYEAR ENDED 310ECEMBER 2024 CREDITORS: AMOUNTS FALUNG DUEWIThIN ONE YEAR 2024 2023 Other ¢redttors 1.550 1.539 PROV5SIONS FOR UABILMES 2024 2023 Prtsvi5ion for h05pitsI purchases 8,472 17. MOVEME IN FUNDS Net movement in funds Transfer5 between funds At 31.12.24 At 1.1.24 Unffjstrirted funds General fund 138,596 ,199 151,795 Restrirted fvnds Chemo unit Sandown héalth digcrict CCU ward Colorectal nurse speciallst Childn,5 Outpatient bubble tubes Orthtrpaedics department Cardiac Unit Frlen& Fund 205 205 1481 75 200 61 75 12CQI 1611 13001 316 316 1.205 1,205 TOTAL FUNDS 139,801 13,199 153,0 Net movement in fvnds, included inthe above are as follows.. Incoming resources Resources expended Movernent in funds Unrestricted fun(ts General fund 51,089 137.8901 13.199 TOTAL FUNDS 51,089 137,8901 13,199 Page 13 continued...
FRIEND5 OFST MARVS HOSPITAL NOTESTO 7HE F1NANCIALSfATEM1r$- conttrnyed FOR THE YEAR ENDED 31 DECEMBER 2024 17. MOVEMENT IN FUNDS- continued Comparativesformovement in furKIs Net movement In fvnds At 31.12.23 At 1.1.23 Unrestricted funds General fund 117,015 21,581 138.596 Restrirted funds Chemo unit Sandown heatth distrirt CCU ward Colorectal nrJr5e specialist Children's outpatient bubbletub Orthopaedlcs department Cardtac Unit 205 205 75 2C() 61 3LY) 316 75 200 61 316 1,205 1.205 TOTAL FUNDS 118,220 21,581 139,801 Comparative net movement in ful$. In¢luded in the above are as follow5.- Incoming restrurces Resources expended Movement in fvnds Unrestricted fijnds General fund 65.043 143.4621 21,581 TOTAL FUNDS 65.043 I,462} 21,581 Minorfunds havé been raised and ère listed separately in the above note. Transfers beiween fuwKJs The charity receives funds where expenditure is specified to be for a spècrfic purpose * the point of donation. and these are recorded as restricted funds. The title of the fund5 in the 3bo¥e notes are lar¥elyself-explanatory. In some cases the expenditure required for the purpose of these fvnds does not meet the inltièl dgnation, leaving a small balance that the charity tan find difficult or impossible to Correct expend in line with the restrictlon. Under Charity Law the trustees arè permitted to resolve that where such funds affj unable to be appropriatelyspentthey may be re.allocated to anothersimilar restricted purpose of the charity. During the year the trustÈes have reviewed the funds held and have r¢solved that four funds are unablè to be spent in line wSth their restriction5 Hnd as such these funds have been re-alltscated to the Frieftds Fund. The application of suth fund will be used to supplement and enhance the sery(tes provided by the IW NHS Trug( at St Mary's Hospitsl, NewporL Page 14 cfjntinued...
FRIENDS OFST MARVS HOSPITAL NOTesTOTHE FINANaALsfATEMENTS. continued FOR THEYEAR EfrIDED 31 DECEM8ER 2024 RELATED PARTY DISCLOSURES IrIng the year £39.67012023-. £30.1941 of don8t¢d prtsfits were recieved from Friends of St. Mary'5 Shoplcafe Ltd. the whollyowned tradingsub5idiary. Ofthe total amtsunt owed to the charity £23,CKJO brought fonvard wa5 lent to the trading company when it was Set up to tover stocl equipment and other operating exnSeS. This is rt expected to be repaid unless th¢ trading subsidiary¢eases to trade. A management charge of £3,796 T5 lsed by the charity to the trading Company and funds owned to the chartty by the trading company were Tepaid to it. At 31 Dember 2024 th¢ balallce owed to the charity by the tr8ding5ubsidiary was£34,20112023'. £29,592I. Page 15
FRIENDS OF STMARY'S HosprrAL DAlLED ATEMENT0F FINANCIALACrvdEs FOR THEY&4R ENDED 31 DECEMBER 2024 2024 2023 INCOME AND ENDOWMENTS Donatlons and leg&ies Donatlons Gtft aid Legacies In rFEemory Donations from tradlng subsidiary 1.193 1.059 6,248 20.709 25 30,194 30 39,670 41,952 57.176 Othertla¢fi athvitles Fundraising events Social kitterias Collettrng boxes 1.247 109 2,580 1,850 112 1.531 3.936 3,493 Investment income Deposrt account interest 1,405 789 Other Income Management charge from tradFng company 3.796 3,585 Tt)tsl incomire resources 51,089 65,043 EXPENDMJRE Charitable artivitie5 Wages Postage, stationery and Offi administration Sundries Hospital equipment purchased ureS and fEttings 7.592 593 7.170 459 601 33.306 12 26,950 io 36.033 41.548 pport costs Governance costs A¢wuntancyfees Accountanry over3ccrual 1,862 151 1,812 102 1,857 1,914 This page does not form part of the statutory financial Statements Page 16
FRIEND5 OF ST MARYS HOSPITAL DAlLED 5TATEMENTOF FINANCIALACnVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Total resour$ expended 37.890 43,462 Net Fncome ,199 21,S81 This page does notfomi part of the statutory financial statements Page 17
FRIENDS OF sr MARY'S HOSPITAL PROVISIIJYS FOR HOSPITAL PVRCHASES FOR THE YEAR ENDED 31 DECEMBER 2024 Department Equipment Atpted bids- carried forward Whippingham Ward 4 x Wall mounted observations machine5 8.472 8.472 This page does Mot form part of the statutory financial statements Page 18