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2022-03-31-accounts

Annual Report and Financial Accounts

April 2021 – March 2022

Florence Nightingale Foundation Annual Report 2021-2022

2021-22 in Photos

Influence Work Throughout the Year

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Covid Restricted Florence Nightingale Commemoration Service 12[th] May 2021

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Florence Nightingale Foundation Annual Report 2021-2022

London Marathon 2[nd] October 2021 - Treasurer and CEO raise funds for a scholarship

FNF 2019-20 & 2020-21 Scholars Conference, 11[th] October 2021

Launch of Alumni Champions 11[th] March 2022

University of Derby becomes the first HEI member of FNF Academy 28[th] March 2022

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Florence Nightingale Foundation Annual Report 2021-2022

Table of Contents

Legal & Administration Information ............................................................................................. 6 Chair’s Introductions .................................................................................................................... 8 Chief Executive’s Report ............................................................................................................. 10 Report of the Trustees ................................................................................................................ 14 About the Foundation ................................................................................................................ 14 Aims, Objectives and Activities ................................................................................................... 14 Our Vision .................................................................................................................................. 15 Our Mission ............................................................................................................................... 15 Our Values ................................................................................................................................. 15 Our Promise ............................................................................................................................... 15 Public Benefit ............................................................................................................................. 16 Strategic Plan (2018-2022) ......................................................................................................... 16 Organisational Development ...................................................................................................... 16 Achievements and Performance ................................................................................................. 17 Developing Leaders ................................................................................................................ 18 Progress Against Strategic Goals ................................................................................................ 22 Goal 1: Demonstrate Impact ................................................................................................... 22 Goal 2: Increase Reputation and Visibility with National and Global Reach .............................. 23 Goal 3: Influence Policy and Practice ...................................................................................... 27 Goal 4: Grow and Sustain ....................................................................................................... 29 Financial Review ........................................................................................................................ 30 Results for 2021-22 ................................................................................................................ 30 Investments ........................................................................................................................... 30 Reserves ................................................................................................................................ 31 Going Concern ....................................................................................................................... 31 Finance and Investment Committee ....................................................................................... 32 Fundraising ............................................................................................................................ 32 Sponsors ................................................................................................................................ 34 Governance and Risk .................................................................................................................. 36 Major Risks and Key Mitigations ............................................................................................. 36 Annual Accounts ........................................................................................................................ 39

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Statement of Trustee Responsibilities ..................................................................................... 39 Auditor .................................................................................................................................. 39 Report of the Independent Auditor to the Members of the Florence Nightingale Foundation ........ 41 Opinion ................................................................................................................................. 41 Basis for Opinion .................................................................................................................... 41 Conclusions Relating to Going Concern ................................................................................... 41 Other Information.................................................................................................................. 42 Opinions on Other Matters Prescribed by the Companies Act 2006 ......................................... 42 Matters on Which we are Required to Report by Exception ..................................................... 42 Responsibilities of Trustees .................................................................................................... 42 Auditor’s Responsibilities for the Audit of the Financial Statements ........................................ 43 Capability of the Audit in Detecting Irregularities .................................................................... 43 Use of Our Report .................................................................................................................. 44

For us who nurse, our nursing is a thing which unless we are making progress every year, every month, every week, take my word for it, we are going back Florence Nightingale

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Florence Nightingale Foundation Annual Report 2021-2022

Legal & Administration Information Year Ended 31 March 2022

Royal Patron HRH Princess Alexandra The Hon Lady Ogilvy KG GCVO Patrons Sir Robert Francis QC Baroness Audrey Emerton DBE, GCStJ, FRCN President Baroness Watkins of Tavistock Vice President Mrs Avey Bhatia Honorary Vice President Mr David Hulf Chair Dame Yvonne Moores DBE Vice-Chairman Mr Andrew Andrews MBE Treasurer Mr Simon Reiter (Until March 2022) Mrs Charlotte Vitty (From March 2022) Trustees Professor Dame Jill Macleod Clark DBE Colonel Sharon Findlay (until September 2021) Joan Myers OBE Rhiannon Beaumont-Wood Professor Aisha Holloway Mr Peter Kay (until September 2021) Mrs Judy O Sullivan Mr Ben Edwards Dr Dale Spence (from September 2021) Dr David Benton (from September 2021) Gp Capt Fionnuala Bradley (from September 2021) Mr Anthony Carey (from December 2021) Professor James Buchan (from March 2022)

Key Management Personnel Chief Executive Officer Professor Greta Westwood CBE PhD RN Director of Academy Professor Gemma Stacey PhD RMN Deputy Director of Academy Lucy Brown RN (from June 2021) Director of Finance Edith Yembra (until February 2022) Director of Engagement Rachel Morgan (from February 2022)

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Auditor Sayer Vincent LLP Invicta House 108-114 Golden Lane London EC1Y 0TL Bankers Coutts & Co 440 The Strand London WC2 0QS CCLA Charity Funds 80 Cheapside London EC2V 6DZ Registered Office 10-18 Union Street London SE1 1SZ Charity Number Registered in England and Wales with Charity Reg No. 229229 and in Scotland with Charity Reg No. SC044341 Company Number 00518623 Incorporated in England

Contact Details

Email: admin@florence-nightingale-foundation.org.uk

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Chair’s Introduction

“The Foundation has continued to flourish and been able to give support not only to our scholars but also, through our membership scheme, we have been able to reach tens of thousands of nurses and midwives including in the higher education sector enabling them to seek to reach their potential.”

It goes without saying that this has been another year which has been impacted upon by the COVID 19 pandemic. Nurses and midwives across all sectors have been challenged by unprecedented high levels of workload and nurse leaders have struggled to maintain quality standards of care due to high staff sickness and absence rates. However, the Foundation has continued to flourish and been able to give support not only to our scholars but also, through our membership scheme, we have been able to reach tens of thousands of nurses and midwives including in the higher education sector enabling them to seek to reach their potential.

The Foundation has had a highly successful year with an increased financial surplus and a strong balance sheet. We continue to receive commissions for our leadership development and policy work as the Foundation is viewed as having an independent voice. None of this could have been achieved without our amazing team led by Greta our Chief Executive Officer (CEO) and Gemma as Director of the Academy. We continue to develop strong partnerships including one in association with the Mary Seacole Trust awards.

Some of our planned events have necessarily had to be curtailed by COVID restrictions. The annual Florence

Nightingale Commemoration Service at Westminster Abbey did take place but with Covid restrictions. It was particularly poignant affair as we remembered the many nurses and midwives from around the world who had given their lives in the service of others. It was attended by members of the government including the Prime Minister, the Rt. Hon. Boris Johnson and the then Secretary of State for Health and Social Care the Rt. Hon. Matt Hancock and Lord Stevens, who at the time of the event, was the Chief Executive of NHS England. The Rt. Rev. and the Rt Hon. Dame Sarah Mullaly DBE, the Bishop of London and previous Chief Nursing Officer of England delivered an inspiring oration and Helena Bonham-Carter gave a reading. The other event of note was the exciting celebration and awarding of certificates to two years of scholars with our guest, the author and celebrated nurse Christine Watson. To hear of the transformative impact was truly wonderful, so many had already achieved promotion.

The Foundation has not only been visionary by setting the future direction for the next five years with underpinning strategic priorities but also been rigorous in monitoring performance using a set of key performance indicators. All the Trustees have brought an enormous amount of expertise, networks, and commitment to

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the Foundation for which I am most grateful. The Board has been inspired by having scholars present their stories at the beginning of each of our meetings. It has also received Diversity, Equality, and Inclusion training presentation to ensure race and equality are woven into all our policies and work and this training will continue through the coming year.

I am delighted that our President Baroness Watkins of Tavistock has agreed to serve a second term as her immense support and wisdom is invaluable. Sadly, David Hulf resigned as Treasurer, and he has been appointed as Honorary Vice President as a mark of the Foundation’s appreciation and high esteem in which he is held. Simon Reiter was appointed Treasurer but following his resignation Charlotte Vitty has stepped into the role. Sharon Findlay and Peter Kay have also resigned and warm wishes to them for their excellent service. David Benton has joined and has become chair of the newly created Global

Committee and this year we have a report from him on our global work and ambitions. Also joining the Board are Group Captain Fionnuala Bradley, Dr Dale Spence, Professor James Buchan, and Anthony Carey.

My warmest thanks to all our sponsors, donors, and supporters for all their help and encouragement during the year. Also, a special thank you to our newly appointed Alumni Champions across the UK who are our ambassadors promoting our work and gaining further support for it from across the health sector.

The future continues to be exciting as our impact across the globe increases and we provide the leadership development for nurses and midwives enabling them to improve health and health care in local communities and influence policy in Governments.

Dame Yvonne Moores DBE Chair

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Florence Nightingale Foundation Annual Report 2021-2022

Chief Executive’s Report

“ A truly exceptional year and result delivered by the incredible Florence Nightingale Foundation (FNF) Team. I am excited for the future, am inspired, and motivated to continue to increase the Foundation’s visibility nationally and globally, its influence for the benefit of the nursing and midwifery professions and its impact on improving health and patient care. FNF will continue to support the many and no longer the few”.

The year’s continual focus ensured FNF work remained relevant to support nurses and midwives during the pandemic crisis. In 2020 we converted all our programmes to a digital platform and from September 2020 until December 2021 this has been our exclusive mode of delivery. Whilst we are now able to meet again face to face our programmes are now a blended mix of digital and face to face delivery, however the majority are delivered remotely. The satisfaction score remains at 98% and attendance is high. Remote delivery reduces the cost for the commissioner and plays to the environmental sustainability agenda.

This year we have delivered the highest number of leadership programmes to greatest number of nurses and midwives ever. We continued to provide “Nightingale Frontline® Leadership Support Service”, the emotional and wellbeing support programme throughout the pandemic.

In September 2020 the Foundation launched membership of the FNF Academy, open to all Chief Nurses, Directors of Nursing and Executive Nurse Directors of health and care organisations for the benefit of their nurses and midwives. Seventy senior nurses of health, care and education have joined as members with

benefits to approximately 154,678 nurses and midwives.

The work of the Foundation truly represents an external marker of the Foundation’s increased influence, presence, and impact. I thank Professor Gemma Stacey and her team who ensured all planned work was delivered within the year, on time and generated an over-budgeted surplus.

A Covid-restricted Florence Nightingale Commemoration Service at Westminster Abbey took place on 12[th] May 2021. I was delighted so many high-profile figures attended including The Prime Minister, Secretary of State for Health & Social Care, Shadow Health Secretary, the Chief Executive of the NHS, and our Ambassador Helena Bonham Carter.

I welcomed to the Foundation Edith Yembra, Director of Finance, Lucy Brown, Director of Leadership, Gabby Lawal, Orion Barker, Carol Barker as Academy Coordinators, Norbert Labeja, Finance Manager, Rachel Morgan, Director of Engagement, Johanna Woodthorpe-Smith, Marketing and Communications Manager, Debbie Preston, Head of Nursing and Midwifery Scholarship and Leadership Programmes and Teresa Callaghan, Executive Assistant.

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The Foundation’s staff has now moved into new offices as tenants of the Royal College of Obstetrics and Gynaecology (RCOG), Union Street. This space is co-located with the Royal College of Midwives and a community of women’s health charities.

With the generous support of Philipp Schuch, gradar.com we have now implemented a job evaluation and pay progression scheme across the Foundation. FNF has continued to develop its total rewards package that will ensure we stay abreast of our “Invest in People” agenda. Saboteur has generously enabled us to rebrand our work and establish a new website.

I wish to thank all FNF sponsors who enable us to continue to maintain Florence’s

legacy. Without this support, we would simply be unable to do what we do. I would also like to thank the trustees for their ongoing commitment and support, who give their time most generously to support me and the activities of the Foundation.

As we prepared for the start of this year, we were ready for the year ahead but once again the amount of activity has surpassed all expectations. A truly exceptional year and result delivered by the incredible FNF Team. I am excited for the future, am inspired, and motivated to continue to increase the Foundation’s visibility nationally and globally, its influence for the benefit of the nursing and midwifery professions and its impact on improving health and patient care. FNF will continue to support the many and no longer the few.

Greta Westwood Chief Executive Officer CBE PhD RN

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Report of the Trustees

The Board of Trustees presents its annual report together with the annual accounts of The Florence Nightingale Foundation (FNF) for the year ended 31 March 2022.

Reference and administrative information set out on pages 5 and 6 forms part of this report. The financial statements comply with current statutory requirements, the

memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

About the Foundation

Florence Nightingale is undoubtedly the world’s most famous nurse and her influence and legacy continue to affect the world today. When Florence died in 1910 at 90, the international nursing community wished to pay tribute to the life and work of this great nurse. At the International Council of Nurses (ICN) Congress held in Cologne in 1912, Mrs Ethel Bedford Fenwick in her speech at the final banquet proposed that ‘an appropriate memorial to Florence Nightingale be instituted’. She envisaged an educational foundation which would enable nurses ‘to prepare themselves most fitly to follow in her footsteps’.

However, due to the 1914-1918 world war, it was not until 1929, at the ICN Grand Council in Montreal, that the memorial proposal was activated. The National Florence Nightingale Memorial Committee of Great Britain and Northern Ireland was subsequently established in 1934 and the name was changed to The Florence Nightingale Foundation (FNF) in 1994.

The Florence Nightingale Foundation operates in England, Wales, Northern Ireland, and Scotland.

Aims, Objectives and Activities

The Florence Nightingale Foundation is an independent charity set up to be a living memorial to Florence Nightingale by advancing the study of nursing and by promoting excellence in nursing, midwifery, and health visiting practice.

The Foundation aims to improve health, clinical outcomes, and patient experience, through building nursing and midwifery clinical and research leadership capacity and capability. It does this by enabling nurses and midwives, our scholars, to access sophisticated and bespoke leadership development opportunities, both in the UK and overseas, tailored to the scholar. The bespoke leadership development programmes ensure the Foundation’s offer remains unique and highly sought after. All our scholars describe the experience with the Foundation as ‘lifechanging’ both professionally and personally. This has given them the confidence to lead with integrity, challenge when they may not have done so previously, and importantly recognise that by staying within their professions they love, they can make a real difference to patient care and health outcomes.

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Our Mission

To pioneer change and improvements in patient and health outcomes, through nursing and midwifery clinical and research leadership, honouring Florence Nightingale’s legacy.

Our Vision

To be the leading scholarship provider for nursing and midwifery leadership development, recognised for influencing

health and social care policy and practice on a national and global level.

To be ‘the go-to place’ for professional opinion and debate, a recognised academy for healthcare thought, a voice for nursing and midwifery. Our scholars, our professoriate and our alumni will seek all opportunities to influence healthcare policy and practice.

Our Values

Care: We care for nurses and midwives, and this is at the heart of what we do. Like Florence Nightingale, we have an overriding instinct to enable nurses and midwives to be better and discover new ways to improve patient care and health outcomes.

Challenge: We challenge norms and nonevidenced based nursing and midwifery practice. We promote transparency and lead communities to ignite change for the better. We use Florence’s legacy as leverage to intelligently influence those around us, unafraid to challenge the status quo when needed.

Nurture : We nurture our scholars and provide the tools, confidence, and knowledge they need to lead change and influence those around them.

Promote : We promote courageous leaders who discover new ways of working and forge a path to impact policy and practice at local, national, and international levels.

Partner: We develop enduring relationships with the nursing and midwifery communities.

Our Promise

We will:

Select the very best talent in nursing and midwifery as scholars of the Foundation. Through our bespoke leadership development programmes, we will inspire, nurture, and support their future success. Our programmes are designed and delivered through partnerships with leading organisations both in and outside health and social care.

Connect nurses and midwives to become the positive voice of nursing and midwifery.

Shine a light on nurses and midwives and their practice. We will commemorate Florence’s legacy and the impact she had on today’s nursing. We will support new research to generate new knowledge, communicate and celebrate our achievements and the impact our work has on improvements in health and social care.

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Public Benefit

In setting and supporting FNF’s strategy and business plan, the members of the Board continue to follow the Charity Commission’s general guidance on public benefit.

Strategic Plan (2018-2022)

FNF strategic goals were set out in the 2018-22 Strategic Plan. They are:

Goal 1: Demonstrate Impact Ensure our important work, and that of our nursing and midwifery scholars, is published to facilitate adoption by others, enhance the impact and raise the profile of the Foundation.

Goal 2: Increase National and Global Reputation, Visibility and Reach Develop our position and brand as a credible voice of nursing and midwifery practice to ensure The Florence Nightingale Foundation is a household name.

Goal 3: Influence Policy and Practice Support and develop nursing and midwifery clinical and research leaders to create the evidence base to change clinical practice and influence healthcare policy.

Secure and increase the financial position of the Foundation.

To deliver the strategic plan FNF will continue as the principal nursing and midwifery leadership charity that is recognised and valued for its expertise in developing leaders, impacting patient and health outcomes through clinical excellence, and influencing policy and practice.

To deliver this strategic plan, FNF has continued to develop as an agile organisation and continues to seek additional funding. It recognises the significant contribution of existing funders as well as identifying and developing new, diverse, and sustainable sources of funding. Specific activities undertaken to date to achieve the objectives of completing FNF strategic plan are set out in ‘Achievements and Performance’ below.

Goal 4: Grow and Sustain

Organisational Development

2021-22 continued to be a challenging year for nurses and midwives but FNF continued to strengthen its reputation as a leading leadership development provider for the professions during this time.

During the year, FNF needed to be flexible in managing the financial and human resources to enable the charity to continue to work productively and effectively to build a sustainable future in the context of much instability.

The Trustees, through the Chairs Action Group, were available to provide expert governance and leadership as required throughout the year to ensure the delivery of the strategic plan, robust business continuity and a positive future for the work of the charity. Four Trustees retired and four new ones were appointed during 202122.

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Achievements and Performance

The Florence Nightingale Foundation Academy was launched in January 2020 with the following aims:

As the Academy comes to the end of its second year of operation, FNF is pleased to report on the numerous work streams which have contributed to the growth in access, reach and reputation. This includes the expansion of the Academy as a member organisation, the increased demand for our commissioned leadership programmes and the new activity in influencing policy through our thought leadership commissioned projects and Subject Expert Groups.

Commissioned leadership programmes and leadership scholarships remain our core focus. The Academy structure has enabled a significant increase in provision to meet the growing demand for our unique approach to leadership development. FNF continues to successfully secure competitive funding for national programmes. Additionally, FNF has received several commissions to provide regional or organisational programmes focused on addressing a workforce challenge that is specific to that area. This year FNF will have provided 9,297 nurses and midwives from across the UK access to FNF leadership development

programmes.

Our aim to increase the accessibility of FNF leadership development continues to be achieved through our Academy membership model.

Membership of the Academy has grown in number and reach and is now open to students and academics through a unique offer to Higher Education Institutions (HEIs). In 2021-22 64 senior nurses of health and care organisations, 2 individuals, 3 Higher Educations Institutions (HEIs) and 1 Integrated Care System (ICS) are members of the FNF Academy. This enables approximately 154,678 students, nurses, and midwives to access our online seminar programme, peer group coaching service (Nightingale Frontline®) networking events and early bird notification of scholarships and leadership programmes.

The Academy is building its reputation as a source of independent thought leadership to inform workforce related policy. FNF is particularly proud of the partnership with NHS England and Improvement (NHSE/I). This has resulted in projects to support the implementation of major workforce policy directives.

The evaluations of the various FNF work streams have a consistent message in terms of impact on nurses and midwives. The discovery of self-confidence and desire to have a voice is paramount. The network offered by FNF provides the support and a platform to elevate this voice. Nurses and midwives reconnect with their commitment to the professions and are motivated to progress in their career. FNF has a significant part to play in addressing the nursing and midwifery workforce crisis through the retention and progression of the professions.

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Developing Leaders

2019-20 & 2020-21 Scholars

The 2019-20 and 2020-21 Scholars were granted extensions to their scholarships because due to the impact of the Covid 19 pandemic on clinical demand and opportunity to travel. Both cohorts finished their programmes in October 2021. Despite the disruption, 100% of scholars

stated they would recommend the experience to friends and colleagues. They used the following words to describe the impact of their experience, “confident” being the most frequently used word.

Ongoing evaluation of the impact of the scholarship indicates 82% of the 201920 scholars have been promoted to more senior roles. Qualitative comments indicate they perceive a strong correlation between their scholarship and their career progression because of their significant personal development. For example:

“It has been an honour firstly to be chosen and given the opportunity to develop my leadership skills. There are so many talented leaders who were also on the course that are now part of my network. Being part of the alumni is like an extended family”

"Absolutely life changing!”

“It has empowered my personal and progression journey - my passion for nursing and leadership continues to thrive, sharing my expertise and experiences with others - creating a culture of leadership, education and well-being”

“The scholarship experience is the best thing I have ever done. The combination of meeting other amazing nurses and forming a lifelong network has been essential to supporting my career over the last 2 years. All the FNF sessions gave me a different aspect”

“This was a life changing opportunity. My key objective was to challenge my imposter syndrome and understand myself as a leader. This was an enormously challenging course that taught me so much.”

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Scholar Conference

A conference for the 2019-20 and 202021 Scholars was held on the 11th of October 2021. It provided the long-awaited opportunity for scholars, mentors, and sponsors to come together, network, meet members of the FNF team and most importantly celebrate their successes. The event was sponsored by Elsevier who provided financial support, facilitated workshops, communications and marketing resources and photography throughout the day.

168 guests attended the event. 28 Scholars took the opportunity to highlight their quality improvement projects and demonstrate the impact of their scholarship in five concurrent sessions focused on workforce development, clinical excellence, education/practice development and digital health. The keynote speaker was Christie Watson, author of the highly acclaimed memoirs “The Language of Kindness: A Nurse's Story,” and “Courage to Care: A Call for Compassion” We were joined in person or via virtual methods by all five Chief Nursing Officers from UK and Ireland. Scholars were awarded their certificate and badge by FNF President, Baroness Mary Watkins of Tavistock and Chair Dame Yvonne Moores, DBE.

2021/22 Scholars

The 2021/22 Scholars have completed their core programme and are currently undertaking the bespoke element of the scholarship. They have been granted an extension to 31[st] May 2022 to use their funds, again due to the impact of the pandemic. A two-day conference has been planned for October 2022 to highlight their achievements and capture the impact of their learning. Sponsorship for the event has been secured from Nuffield Health and Elsevier.

2022/23 Scholars

FNF successfully secured funding from six of the seven NHS England Regions to provide a more equitable spread of scholarships across the country. Health Education England and NHSX increased their support of the Digital Leadership pathway and sponsored fourteen Scholars and two Fellows this year. Additionally, specific funding was secured for a Digital Midwifery Fellow and Scholar. This programme will be delivered in collaboration with the College of Healthcare Information Management Executives (CHIME) an international organisation that are the global pioneers in developing digital health leaders.

FNF continues to seek support for specific scholarships, which are exclusively available to nurses and midwives from a minority ethnic background. This year this included two scholars sponsored by the Chief Nursing Officer (CNO) for England, and an additional scholar sponsored by the General Nursing Council for England and Wales Trust (GNCT). In addition, because of new partnerships, we secured support from new sponsors including Sigma, Nightingale Fellowship and The Captain Tom Foundation.

FNF secured commitment from Health Education and Improvement Wales (HEIW) to fund four scholars for three years and an intention to continue to support the digital scholarship pathway. Funding was also received from Ireland and Northern Ireland for scholarships. We continue to work with Scotland on our relationship however the change in CNO has disrupted progress.

A new development for 2022-23 is the FNF Global Leadership Scholarships which has arisen because of a growing partnership with the Chief Nursing Officer (CNO) of the World Health Organisation (WHO). Funding was received from England, Wales, Northern Ireland, and Ireland for Global Leadership Scholars who will have the opportunity to

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engage with the WHO Regional Chief Nurses and the WHO CNO office. They will also undertake an improvement project focused on the global health agenda.

The recruitment and selection of the 202223 Scholars commenced in October 2021 and was completed in March 2022. A total of 199 applications were received and 117 were interviewed. This is a 35% increase in applications when compared to last year, however, we must note there remained

elevated levels of clinical demand associated with the pandemic during the recruitment period. 25% of applicants were from an ethnic minority background, 21% were male and 10% were midwives. The vast majority were NHS Agenda for Change (AfC) Band 7 and 8a, that is at Ward/Team Leader and Matron level. London and southeast continue to represent the England regions producing most applications. Encouragingly, 20% of applications were from Wales.

FNF awarded 84 Leadership Scholars and four Travel Scholars.

Nightingale Frontline® Leadership Support Service

The Nightingale Frontline Leadership Support Service was developed in response to the COVID-19 pandemic as a method of attending to the leadership support needs of the professions and was launched in April 2020. The service has continued in recognition of the ongoing need for reflective and restorative safe spaces offered by organisations which are not linked to an employer. The service offers remote co-consulting sessions facilitated by executive coaches and is delivered via a video conferencing platform.

The service is funded by a range of sources including individual organisations and primarily via NHS hospital charities at the request of the Chief Nurse; although with

the increasing pressures on budgets, our goal for the future is to secure more philanthropic funding support to enable us to maintain this important service. Currently places are also offered as a benefit for members of the FNF Academy.

484 Nightingale Frontline Leadership Support Service sessions have been provided this year and 1180 nurses and midwives have attended from 89 organisations. Ongoing evaluation demonstrates that 100% of attendees describe the sessions as a confidential safe space and 100% would recommend to colleagues.

An animation has been created to demonstrate the key themes at the start of the pandemic available here. Additionally, the early experiences and impact of attendance has been published (Bond, Stacey, Matheson & Westwood 2022)

The following are some of the key findings:

Reasons Given for Attendance

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Impact

“Used the skills learnt almost immediately after concluding the session with a staff member who came to me for advice”

“It has given me direction to my future”

“Feel more confident in my leadership capabilities”

“Closer links with strategic nursing team and wider multi-professional team”

“Promoted the interpersonal communication with the stakeholders related to the projects coordination”

“I am listening to others more than talking, taking down everyone's opinion and trying to accept their opinions”

“I did feel calmer after, it was quite a cathartic experience”

“Improved sense of worth to the organisation”

“Being able to deeply reflect on my leadership style”

An evaluation of the sessions attended by the newly registered nurses and midwives echoed these themes.

Their comments included the following:

“It has helped me think about the things I have achieved as well as where I would like to go with my career”

“I’ve found a new way of constructing difficult subjects and issues”

“I’ve learnt to create a script for difficult conversations, and to reflect on my practice”

this is due to the support and advice during the sessions”

“I thought it was brilliant! If everyone would do sessions like this, we would have a better work environment. People need to learn how to listen”

Commissioned Leadership Programmes

Delivered in 2021-22

“Motivated me to make small changes and reassess elements of my working day that I previously felt could not be changed”

“It gave me a clear picture of what has happened and made me open up feelings locked up inside. It made me aware of myself even more and motivates me to go for my goals and start showcasing what I am really capable of”

“It has drastically improved my well-being and confidence as a practitioner”

“Following the course I had an interview, and I got the job! I strongly believe part of

This year FNF has offered leadership development opportunities for 9,297 nurses and midwives from across the UK. Our work demonstrates the volume and breath of FNF commissioned leadership

development programmes. The team is exceptionally proud of the growth in this area and particularly a programme FNF offered to every newly registered nurse and midwife across England (8,500 in year 1). FNF has also developed its first online programme which will be launched in Q1 2022-23. This is supported by a newly developed Learning Management System which will further enhance the networking

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opportunities, experience, and reach of FNF programmes moving forward.

midwives and children and young people’s nurses.

Leadership Development Programmes Commissioned for 2022-23

Twenty-four leadership programmes have been commissioned for 2022-23 which will be accessed by 10,938 programme participants. Nine commissions are programmes that FNF have been asked to repeat or extend for existing commissioners which demonstrates satisfaction with the quality and impact of our work. Others are new programmes requested by organisations or regions that are seeking to develop the leadership of specific demographic groups or management levels. Finally, FNF have competitively secured commissions for high profile national programmes which align with the CNO England workforce strategy in relation to internationally educated nurses and

Membership of The FNF Academy

Sixty-four senior nurses of healthcare organisations, 3 of Higher Education Institutions (HEIs), 1 of an Integrated Care System (ICS) 2 individuals who are members of the FNF Academy (total 70 members). This enables approximately 154,678 nurses and midwives to access our online seminar programme, peer group coaching service (Nightingale Frontline®) networking events and early bird notification of scholarships and leadership programmes. This work is supported by The FNF Academy Advisory Group to maintain governance and oversight of the membership including monitoring of quality and standards.

Progress Against Strategic Goals Goal 1: Demonstrate Impact

The impact of FNF activity is measured through continuous evaluation and illustrated by leadership programme participants and scholars’ commentary on social media and case studies. Their case studies capture the personal and professional impact and consistently report discovery of self-confidence and desire to have a voice is paramount. The network offered by FNF is cited as providing the support and a platform to elevate this voice. Nurses and midwives describe reconnecting with their commitment to the professions and motivation to progress in their career.

The overall satisfaction rating of FNF leadership development programmes and scholarships averaged 4.3 out of 5, and 100% would recommend the programme to friends and colleagues. This continues to indicate a consistent and extremely high level of satisfaction alongside the expansion

of provision.

The impact of the Academy has been particularly visible because of an important level of activity reported in the professional press and a peer-review publication. An example is the early evaluation data collected on the Nightingale Frontline Service in BMJ Leader. This represents a significant development for the Academy as the approach to leadership development is becoming increasingly evidence based. The team has been supported to submit abstracts to NET/NEP 2022 an

international nurse education conference in Spain, in October 2022. FNF also gave invited presentations at the Digital Rewired event, 15[th] -16[th] March, along with a significant presence from several FNF Digital Scholars. This demonstrates the embedding of a research, evaluation, and dissemination culture into the routine Academy activity.

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High quality publications which have arisen because of the FNF scholarship experience or quality improvement projects are being collated and will be themed in a collection to demonstrate the wider impact of the programmes and the sponsor investment. All the outputs described above will be

disseminated widely through our established media outlets and shared through our new website Florence - Nightingale Foundation (florence nightingale-foundation.org.uk), launched March 2022.

Goal 2: Increase Reputation and Visibility with National and Global Reach

Alumni Champions

Champions have now been recruited from across the UK except for Scotland (5 x East of England, 3 x London, 4 x Midlands, 3 x Northeast, 4 x Northwest, 1 x Northern Ireland, 3 x Southeast, 3 South West and 2 x Wales). The Alumni Champions are active FNF alumni who promote the value of FNF programmes and membership in their region. Additionally, they are creating local communities of practice which combines their collective motivation for the professions to focus on socially or environmentally responsible local projects. An induction event was held on 11th March with great enthusiasm and commitment to raising the profile of FNF and continuing to grow their influence. This initiative shows great potential and FNF will continue to grow the Champion network through a competitive selection process on an annual basis.

Communications and Events Overview

The Foundation’s profile continued to grow throughout 2021/22 because of strategic communications and marketing activity undertaken by the team, and the support and advocacy of our amazing alumni and scholars particularly on social media, for which we are incredibly grateful.

Books, Publications, and Social Media, and Press

The following books, publications and articles in the press are examples of the

numerous outputs arising from the activity of the FNF Academy.

Books

1. Leadership Development for Nurses and Midwives (Elsevier) – Full manuscript submitted. Book launch 12[th] May 2022.To be published in September 2022.

2. Health and Wellbeing for Nurses and Midwives (Elsevier) – Full Manuscript submitted. To be published in January 2023

Themed Publications

1. Clinical Supervision Subject Expert Group (Nursing Times) Publication February 2022

2. Digital Health Leadership Publication Series (Nursing Times) Publication March 2022

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3. Preceptorship campaign (Nursing Times) Publication February 2022

• ‘Nurses and midwives must be well supported during their transition to independent practice’

• Preceptorship survey: Is support for newly registered nurses good enough?

• Campaign calls for all NRNs to receive ‘vital’ preceptorship

• Exclusive survey reveals too many newly registered nurses lacking good support

• Mental health nursing review warns specialty risks being 'lost'

• ‘Ambitious’ Preceptorship plan for England progresses apace

• We will continue to campaign for -

high quality Preceptorship

**4. ** Bravest Path Webinars (Nursing
Times) Publication March 2022
• Free webinar for newly registered
nurses and midwives

5. Global Launch (Nursing Times) Publication October 2021 • UK nursing charity approves plans to become global organisation

6. Nightingale Frontline (BMJ) Publication March 2022

• Development of Nightingale Frontline (Nursing Times) Publication March 2022

• Covid-19 support programme improved confidence of nurse leaders

7. Partnerships (Leading Healthcare) Publication August 2021

(HEE/NHS website) Publication August 2021

FNF is identified as an expert reviewer for Nursing Times articles which are written by journalists from a non-nursing background. Papers are reviewed and published with the statement “This article was supported with advice from the Florence Nightingale Foundation”. For example: Reflective Practice: aims, principles and role in revalidation

Webinar Programme

The FNF bi-monthly webinar programme directed at nurses and midwives from member organisations and alumni is growing in popularity and engagement. 2670 people have attended 31 live events this year and the YouTube hosted recordings receive an average of 978 views. The most popular webinar so far was What does the digital revolution hold for the clinical workforce? And can be viewed here

Social Media

Our social media reach continues to increase. Our engagement with scholars and leadership programme participants (past and current) is lively and consistent. We have also seen a significant increase in followers across all our social channels, including doubling our followers on Instagram and LinkedIn, as well as a TikTok debut.

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Florence Nightingale Foundation Annual Report 2021-2022

Twitter

22, 622 Twitter followers in 2022 (16,050 in 2021)

The CEO has 5,848 Twitter followers (3,843 in 2021)

The Director of the FNF Academy has 3,688 Twitter followers (2,100 in 2021)

LinkedIn

4,569 Followers in 2022 (2,264 in 2021)

Facebook

687 Followers in 2022 (data not recorded in previous report) 630 people like the FNF page

Instagram

1,270 followers (560 in 2021)

YouTube

221 subscribers (data not recorded in previous report)

TikTok

46 Followers (0 in 2021)

Podcast

A group of current scholars have selforganised a podcast known as “The Leadership Log”. The podcast captures the experiences of scholars and discuss every day leadership. They host monthly twitter chats on topics related to leadership and have a growing number of subscribers and followers. The podcast has received 4,117 plays from listeners in over 50 countries. The associated Twitter account has 2,689 followers and averages 250,000 impressions per month.

Monthly Newsletter

The FNF monthly newsletter goes out to our supporters (ca. 5,650), our members (99) and our alumni (ca. 1,555). It opens with a Welcome Letter from our CEO Professor Greta Westwood CBE and features news, webinar dates, activities of the charity and has content from our partners and associates. It performs extremely well. It has

an average open rate of 40% (industry standard is 17%) and an average clickthrough rate of 18% (industry standards is 2.91%).

Florence Nightingale Commemoration Service 2021

The 56[th] Florence Nightingale Commemoration Service, considered the event of the year for the nursing and midwifery professions, took place on 12[th] May 2021 in Westminster Abbey. Due to Coronavirus guidelines at the time, it was a significantly restricted event, with only seventy guests able to attend in contrast to the 2,200+ we usually welcome. After the Service was cancelled in 2020, and as civil society was emerging from another prolonged period of restrictions and, once again, exceptionally challenging times across health and care, it was an immensely poignant occasion.

The Prime Minister, the Secretary of State for Health and Social Care, the Shadow Health Secretary, CEO of NHSE/I and the Minister for Care all attended. The Bishop of London gave the lesson, and both the Prime Minister and actor Helena Bonham Carter, a distant relation of Florence’s, gave readings. The event attracted much media coverage on live evening news channels including an interview with our CEO on Sky News, as well as in print and online media and was live streamed by the Abbey.

The Service further enhanced the mainstream visibility of the Foundation and strengthened our position across the nursing and midwifery community.

Online Growth

The Foundation’s online profile has grown over the past 3 years and growth remained strong throughout this year.

The Executive Team recognise that strategic online content is key to its continued success for its wide range of audiences – from students and newly

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Florence Nightingale Foundation Annual Report 2021-2022

qualified nurses and midwives, through to national and international Chief Nursing Officers, policy leaders and makers.

Thought Leadership Profile

Another area of notable success in 2021-22 was the rise in profile we gained for our thought leadership and policy work.

As working collaboratively is central to our ethos and practice, we have been delighted to work in partnership with other leading professional organisations in order that, together, we continue to pioneer change and improvements in patient and health outcomes.

Brand and Website Review

Motivated by the major growth in programmes and services that the charity has achieved in recent years and despite the challenges of the pandemic, at the beginning of the year, the Officers and Chief Executive initiated a review of the charity’s brand and communications profile. Our mission to deliver outstanding scholarships and leadership programmes continue and in line with that, we need to present ourselves with relevance to our beneficiaries and to offer the best online platforms.

The exercise reinforced the importance of having a strong, modern brand and of key digital tools, including a dynamic website. As the nursing and midwifery community evolves and grows, so must we.

Incredibly generous pro bono support of leading digital agency Saboteur was secured by the CEO through an introduction by a Trustee, and as the year ended the charity’s team were working hard to prepare for the launch of a new brand and website in early 2022/23.

Awards and Recognition

The achievements of our team, including our scholars and alumni, are cause for great celebration and epitomise and help to reflect the impact that can be made by nurses and midwives who undertake the Foundation’s highly sought-after programmes.

Highlights in the year included: the Chair, CEO, Director, and Deputy Director of the FNF Academy being invited to attend The Sun “Who Cares Wins” Awards to celebrate the exceptional achievements of two FNF alumni who were nominated for the Best Nurse and Best Midwife awards; and two other alumni being nominated for the Nursing Times Annual Awards.

As the ultimate testament of impact and achievement, our CEO Professor Greta Westwood was invested as a Commander of the Order of the British Empire by Her Royal Highness, The Princess Royal, in recognition of her services to nursing and midwifery, at Windsor Castle on 1[st] December 2021.

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Florence Nightingale Foundation Annual Report 2021-2022

Goal 3: Influence Policy and Practice

1. Reflective Practice

FNF, in partnership with Foundation of Nursing Studies, Point of Care Foundation and Queens Nursing Institute Scotland led a position statement emphasising the importance of protected time for nurses

and midwives to access reflective practice forums. The statement was received positively by the profession and highlighted by the Nursing Times .

Officers to publish a joint letter expressing their commitment and strategy to embed CS in nursing and midwifery practice

The establishment and activity of the CSSEG group members has been extensively featured in the Nursing Times in a “Clinical Supervision Zone.” This is contributing to the best practice evidence base and raising the profile of the issue across the professions.

2. Clinical Supervision

The Clinical Supervision Subject Expert Group (CS-SEG) was convened in response to our members identifying inconsistent access to Clinical Supervision (CS) for nurses and midwives as an endemic issue. The group meets virtually on a bi-monthly basis and has national level representation from the four nations. It also includes professionals with an established expertise in the subject or a breadth of experience of the issues from students to senior leaders.

The most significant achievement to date is our influence on the Nursing Midwifery Council (NMC) through their Professional Strategic Advisory Group (PSAG). The NMC has now recognised their role in supporting the importance of CS and have committed to:

3. Support for Early Career Nurses and Midwives

In collaboration with Unison and Nursing Times, FNF has engaged in its first workforce policy influencing campaign focused on preceptorship for early career nurses and midwives. A survey was conducted, receiving over 5,000 respondents, which highlighted the impact of disrupted and limited support and transition to practice programmes provided during the pandemic. The survey results are concerning for the future stability of the workforce and have already enhanced the urgency for national preceptorship strategies and investment in all 4 UK countries. FNF is a member of strategy implementation groups and is asked to facilitate engagement with early career nurses and midwives to contribute to these groups/ forums.

4. Career Progression for Internationally Educated Nurses and Midwives

The Global Nursing and Midwifery SEG was convened with the purpose of actively supporting the progression of internationally educated nurses and midwives through leadership development and provision of pastoral support. The group prioritised working together on competitive funding applications to develop UK wide programmes and successfully

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Florence Nightingale Foundation Annual Report 2021-2022

secured funding from Burdett Trust for Nursing to develop an online leadership programme which will be accessed by 2,000 international nurses and midwives. Importantly the funding supports a robust research and evaluation aspect to facilitate continuous engagement with the potential recipients of the programme.

The Global Nursing and Midwifery SEG has formed a curriculum advisory group for the programme of work. Our commitment is to ensure the prior experience and qualifications of international educated nurses and midwives are recognised and valued. Our role is to ensure they have access to the leadership development opportunities which will enable them to express their expertise and achieve their career aspirations.

Commissioned Policy

1. National Professional Shared Decision-Making Council

An evaluation of the National Professional Shared Decision-Making Council has been completed and the report has been received positively by the NHS E/I policy unit. Best practice principles were identified, and the findings will be used to inform its approach to future implementation and roll-out. The report will be used for internal quality assurance to monitor the establishment and oversight of the growing numbers of National Professional Shared Decision-Making Councils.

2. Developing Clinical Education Career Pathways

This project explored the experience of a group of healthcare professionals who were released from their clinical education roles to focus on a development project aiming to improve the experience and capacity of the clinical learning environment. A key focus was to explore the professional development requirements of those who are interested in pursuing a clinical education career pathway. The results of the study will be published in Journal of Nursing Management and presented to the Health Education England leadership team that is currently exploring this essential but under resourced career pathway.

Future Projects

The following projects have been commissioned by NHS E/I. All projects are high profile and are currently at the planning stage with a view to commence in Q2 2022-23.

  1. Exploring the Influence of Leadership, Culture, and Hierarchy on Clinical Staff: Raising Concerns Relating to Patient Deterioration

  2. Embedding a Culture of Evidencebased Practice: Chief Nurse Development Requirements

  3. What Good Looks Like in Digital Transformation: Chief Nurse Development Requirements

Additionally, the following project has been commissioned by Health Education Southeast:

  1. Student Shared Decision-Making Councils: Best Practice for Meaningful Student Advocacy

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Florence Nightingale Foundation Annual Report 2021-2022

Goal 4: Grow and Sustain

Online Programme Development

The newly developed Learning Management System (LMS) will host its first online programme in 2022-23. This programme is focused on developing Champions of Infection Prevention and Control and has been developed in collaboration with NHS E/I. The learning materials are diverse, engaging and represent the best practice in e-learning. 360 participants will undertake the programme initially however the demand has been astounding. Therefore, there is opportunity for recurring income from this development and further online programmes.

New Partnerships

Our long-term partnerships with The Kings Fund and Royal Academy of Dramatic Arts (RADA) have been formalised into strategic agreements which will ensure the growth and stability of these relationships for the future.

FNF is working in collaboration with The Bravest Path leadership consultancy to deliver webinars to all newly registered nurses and midwives across England (202122, 8,500, 2022-23, 8,500) whose transition to practice has been adversely effective by the impact of the pandemic. This represents a new partnership for FNF and enables us to incorporate the research and theory of the world-renowned researcher, Brené Brown into the offer. It will also introduce FNF to early career nurses and midwives at the start of their career and FNF will use this opportunity to build an ongoing and supportive relationship with them as they progress through their careers.

FNF has developed a 3-year strategic partnership with Nuffield Health which includes annual membership, leadership programmes, scholarships, and

sponsorship of events.

Looking Forward

As we move into 2022-23 the focus will be on ensuring the FNF leadership development offer remains considered by the professions as world class. This will require FNF to develop the content and identify delivery partners who are able to give the freshest thinking on contemporary issues influencing health and social care. Market research tells us this should focus on leadership approaches which will enable the success of Integrated Care Systems, put nurses and midwives at the heart of addressing concerns surrounding social and environmental sustainability, be at the forefront of innovation including digital transformation and proactively challenge inherent discrimination through anti-racist leadership practice.

Capturing the longer-term impact of FNF leadership development programmes and scholarships will be essential in ensuring FNF is able to diversify our sponsorship and engage in the competitive tendering process. It will also be central to marketing and income generation activity. The foundations of this work are now established and will be a key focus next year.

Academy membership and alumni engagement will become increasingly active in our policy influencing as FNF mobilise the expertise of its network and take advantage of its independent status. FNF intends to utilise the growing reputation and respect from the professions to forward this agenda for the wider benefit of people, families, communities, and population health. This will provide a solid basis to enable progress into contributing to global nursing and midwifery leadership development.

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Florence Nightingale Foundation Annual Report 2021-2022

Financial Review

As with many organisations, the onset of the pandemic posed a material threat to the operations and finances of the Foundation. However, due to the outstanding response from the whole organisation the financial results for the year were the strongest ever, resulting in a significant increase in reserves that provides a strong basis from which to deliver the ambitious organisational strategy.

The five-year financial strategy was updated to reflect the impact of the pandemic on both operations and financial metrics, but the key financial objectives remain the same; to generate surpluses; grow and diversify income; operate efficiently and effectively managing the cost of operation, deliver value for money; and to assess and manage risk in the Foundation’s growth and development activities.

Results for 2021-22

Total income for 2021-22 was the highest ever achieved by the Foundation at £3,419k an increase of 58% on the 202021 outcome.

The unrestricted net income for the year benefited from a £57k unrealised gain on the investment portfolio as underlying investments recovered from the March 2020 lows seen at the outset of the pandemic. As a result, total unrestricted net income for the year was £612k compared to £508k in 2020-21. Including transfers between funds, carried forward unrestricted funds at the end of the year were £2,039k an increase of 52%.

Once again, this significant step forward in activity and performance was due to starting the year with a strong pipeline of commissioned programmes, which the Academy team continue to deliver virtually. The membership scheme continues to attract new members. Costs rose because

of higher variable programme delivery costs plus planned and responsive investment in capability and capacity to support the growing level of activity. Overall, costs were well managed with some additional pandemic driven increases offset by savings on areas such as property rental.

The Foundation continues to adopt the new Income Recognition Policy under which income for scholarships is recognised in the year in which the scholarship commences irrespective of when funding is received. In the case of multi-year funding, it is recognised for only one year of funding. In 2021-22 restricted income reflected 81 scholars commencing their programmes with additional income for policy development work.

At the year-end restricted funds of £258k principally represents funds relating to scholarships that have commenced but not completed. As at March 2022 the Foundation had invoiced or received funding for £1,745k of scholarship programmes due to commence in April 2023 or subsequently.

Investments

The Foundation’s investments are managed on our behalf by CCLA and are held in a range of asset classes including equities, property, fixed income securities and cash, and with a geographic spread. The equities funds do not invest in companies whose products are associated with the tobacco or arms industries. During the year to 31 March 2022 the portfolio managed by CCLA delivered a positive total return of 15.6% well more than the target return of CPI +5% before costs. Within this, the individual funds exceeded their respective benchmarks.

The performance of our investment managers is reviewed on a regular basis

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Florence Nightingale Foundation Annual Report 2021-2022

(through quarterly reports and direct discussions) by the Finance and Investment Committee, who report to the Board of Directors. The Board of Directors’

objectives for investing funds continues to be to:

Total investments on 31st March 2022 amounted to £1,156k with interest and dividend income for the year of £29k.

The Foundation periodically reviews its investment policy to ensure it remains appropriate in the context of the type and level of activity it is undertaking and the wider financial and investment markets.

Reserves

Unrestricted reserves provide some protection to the Foundation and its activities by allowing time to adjust to changing financial circumstances. The Board, via its Finance and Investment Committee reviews, on an annual basis, the level of unrestricted reserves by considering the risks associated with various income streams, expenditure plans and Balance Sheet items. This enables an estimate to be made of the level of sufficient reserves:

Strategy was produced and in July 2022, the Finance and Investment Committee recommended the Board to approve and adopt this strategy. Later in July 2022, the Chair’s Action Group (CAG - a

subcommittee of the Board) approved the 3 Year Financial Strategy on behalf of the Board. Fundamental to the approval of the 3 Year Financial Strategy was the revision of the unrestricted reserve policy as it utilised reserves to fund growth. Consequently, the unrestricted reserve policy was reviewed by CAG and approval was given to reduce the level of cover back down to 12 months of future operating costs, from the current level of 15 months. In return, it was agreed to formalise the calculation for months

covered and to report on the level of unrestricted reserves monthly, rather than just at the year-end.

Based on the new policy, the level of unrestricted reserves at the 31 March 2022, represented 13.7 months of future operating costs.

Restricted reserves relate principally to the scholarship programmes and the sponsors funds and are net of the sponsor’s funds less any expenditure already incurred during the year. The scholarships programmes run each year from April through a 12-18-month period. Scholarship income is recognised in the year which the scholar commences their program and costs are recognised as incurred. The restricted reserves at the balance sheet date reflect residual scholarship funds that will be spent at a future date. The restricted reserves at the 31 March 2022 were £258k.

Remuneration Policy

The Board of Trustees met in June 2022 and approved the FNF Business Strategy 2022-27, a growth strategy. To support the Business Strategy a 3 Year Financial

The remuneration of key management colleagues is reviewed by the Renumeration Committee and ratified by the Foundation’s Board of Trustees to ensure it is competitive within both the charity and healthcare sectors and is proportionate to the complexity of each role in line with the

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Florence Nightingale Foundation Annual Report 2021-2022

Foundation’s charitable objectives and values.

A review is conducted annually of pay for all staff although there is no obligation to award an increase. In deciding on whether to increase pay, the Board will first consider whether it has the funds to do so. If the decision is taken to increase pay, the Board will decide on the level of pay rise taking several factors into account, the Retail and Consumer Price Indexes (RPI and CPI) and the level of other pay settlements (for example NHS).

The Foundation strives to be an equal opportunity employer and will treat all staff equitably with regards to the terms and conditions of employment offered including pay. The Board will review pay levels and terms and conditions from time to time to identify and address any anomaly

Going Concern

Finance and Investment Committee

The Finance and Investment Committee is constituted as a committee of the Board of Directors to oversee the Foundation’s financial affairs. The Committee meets at least four times during the year and its membership consists of five trustees. It monitors and reviews, on behalf of the Board of Directors, all aspects of the financial performance, financial management reporting, and the internal financial controls. It reviews and monitors performance against the current year’s budget and short-term financial strategies. It also monitors the performance of the investments to ensure consistency with the Foundation’s Investment Policy and oversees the Reserves Policy as well as other finance related policies.

Fundraising

Approach

The accounts have been prepared on the going concern basis. The Foundation has continued to demonstrate that, because of its ability to adapt and respond to the pandemic and its resilient business model (where funds are received before programmes and scholarships commence) that it is able to sustain and grow through a major economic shock. Nevertheless, the Board remains vigilant to financial and operational risk and have reviewed long term financial projections when setting the 2022/23 budget. The Board has also taken steps to reduce investment risk and maintain an appropriate level of unrestricted reserves.

Fundraising Approach

Although there have been previous attempts at establishing a fundraising operation, at present the Foundation’s fundraising portfolio is highly underdeveloped with the potential largely untapped. In February 2022, the Charity appointed a new Director of Engagement to breathe life back into our fundraising activities.

In line with the 3 Year Financial Plan, the fundraising strategy will focus on three priority areas:

The Trustees are therefore confident, because of the above actions, that the Foundation has sufficient future cash generation capability and current reserves to fund the Foundation into the future. They, of course, also recognise the need to closely monitor the ongoing risks.

At the Foundation, we are committed to raising income in ways that are transparent, cost-effective, and appropriate to our charitable ethos. We are registered with the

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Florence Nightingale Foundation Annual Report 2021-2022

Fundraising Regulator and adhere to the Fundraising Code of Practice in all our income generation activities. The Foundation raises funds to do our work from individuals, companies and grant-giving trusts and foundations. We only write to people who are already supporting us, or who have expressed interest in our work. We do not call or write to people who are not connected to our work. We email only those people who ask to receive marketing emails from us. We ensure that the way we collect and look after personal information about our supporters complies with the Data Protection Act 2018. During the year we did not employ third parties to fundraise on our behalf, however we in 2022/23 a third party fundraiser has been engaged for corporate and trust fundraising activities only. We regulate the amount of contact with donors to protect vulnerable people and the public from unreasonable behaviour. We do not write to former clients regarding fundraising activity without them requesting to hear about our work. In 202122, we received no fundraising complaints.

Review of the year

When the Foundation was formally established in 1934, it was made possible by charitable and voluntary giving. As a Registered Charity, donations continue to be a significant part of our financial profile.

In addition to the support of our corporate partners (as detailed on page 35), the Foundation is immensely grateful to everyone who donated throughout the year and would like to give special thanks to the following individuals and organisations:

to support a Leadership Scholarship annually until the fund expires

The Foundation’s Team also wishes to send its collective and sincere thanks to everyone who gave in support of the rescheduled London Marathon which our CEO Professor Greta Westwood and Treasurer Simon Reiter ran in October

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Florence Nightingale Foundation Annual Report 2021-2022

Sponsors

FNF is entirely grateful to its sponsors as without the generous funding its work would not be possible for the benefit of nurses and midwives.

Leadership Development Sponsors 2021-22

Corporate Sponsors 2021-22

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Florence Nightingale Foundation Annual Report 2021-2022

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Florence Nightingale Foundation Annual Report 2021-2022

Governance and Risk

The Governance and Assurance Committee is formally constituted as a Committee of the Board of Directors to monitor and oversee all aspects associated with the Foundation’s commitment to good governance and the requirements of the Charity Commission. Specifically, to provide assurance to the Board, that all risks to the Foundation, arising from its activities, have been identified and mitigated as far as possible. Good governance in charities is at the heart of their success.

All staff have annual performance appraisals against objectives linked to the business plan for the year. These are

monitored monthly with the line manager. All new staff must pass a satisfactory sixmonth probation period at the start of their employment before becoming a permanent staff member. The Pay Review Policy sets out clear conditions and procedures for renumeration. The FNF Staff Handbook provides information on internal policies and ways of working and is available to all new starters. Croner, FNF Human Resources Partner, updates the Staff Handbook in line new employment legislation and all updates are provided to the team throughout the year.

Major Risks and Key Mitigations

During the year the Foundation continued to work subject to the COVID-19 regulations and restrictions and the associated risks posed by the pandemic. It was only in the new year that we began the journey of normality. Although a challenging time, appropriate policies and strategies were devised. At the end of the pandemic, these will be reviewed and updated in the hope that they will stand the organisation in good stead in the event of further untoward events in the future.

Meetings were held on a quarterly basis with full and demanding agendas. As well as focussing on current concerns, a complete review and re-write where necessary was undertaken for the following policies: Volunteer, Document Retention, Press and Media, Health and Safety and Flexible Working.

The Corporate Risk Register has been kept under constant review and taken to the Board in December. Its prime focus was both identified risks and new risks created

by the pandemic. Cyber security was identified as a major ongoing risk facing the foundation and now appears as a separate agenda item at every meeting. In addition, the Key Performance Indicators (KPIs) are also reviewed at each meeting. The Committee will ensure that appropriate action is implemented to reduce identified risks as far as possible. Due to other pressures, the Monitoring and Assurance Programme was paused but this is now back on track and the first report will be delivered in August 2022.

The key risks and uncertainties and the actions taken to mitigate them are as follows:

1. Failure of IT system caused by cybercrime and insufficient cyber security controls resulting in loss of data and income leading to reputational damage and halt to activities

The monitoring of threats posed by cybercrime has the utmost priority and arrangements are reviewed weekly with

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developments in cybercrime and security being tracked on an ongoing basis. The Foundation has Cyber Essentials accreditation in place and high levels of cyber insurance coverage. There is an IT Disaster Recovery Plan and further IT related security policies have been added. Staff are provided with training during FNF’s Onboarding process and on-going training throughout the year along with the provision of annual GDPR training. A trial of an Artificial Intelligence (AI) driven cybersecurity system was conducted and this type of solution has the potential to add value as a further risk control measure and is currently subject to further consideration.

2. Fraud and financial crime due to inadequate controls over processes, lack of staff understanding and awareness of key aspects of fraud and financial crime leading to reputational damage and possible financial penalties that reduce FNF’s surplus

FNF has a comprehensive set of financial policies and procedures including an AntiFraud policy which is provided to all staff, and a comprehensive Internal Financial Controls Manual. Furthermore, internal audits now form an integral part of the annual Governance & Assurance programme with the initial focus being on operational income and expenditure, insurance, and bad debtors along with HR aspects. Closely related to cybercrime risks are those concerning fraud and financial crime which has seen an exponential increase since the pandemic. The foundation has a robust process for ensuring that fit and proper person checks are undertaken on staff during the recruitment and subsequent onboarding processes. New staff are provided with a checklist on induction and all staff receive training on key aspects of fraud and financial crime as part of induction and quarterly updates. In addition, when staff exit FNF there is a ‘lockdown’ of all accounts and the return of all FNF property is implemented as soon as practicable. Along with Cyber Essentials Accreditation

and cybersecurity insurance, the Foundation now uses an enhanced spam filter which can monitor more closely for suspicious email traffic.

3. Attrition of staff

FNF cannot achieve its objectives without suitably experienced, qualified, and trained staff. The effective management and control of IT security, fraud and financial crime is heavily dependent on staff skilled in identifying and escalating instances of criminal activity as well as pro-active prevention. As such, the Foundation places great emphasis on the wellbeing and ongoing development of all its staff and administers an annual Staff Survey ‘health check’.

A Pay Progression Framework is now in operation with clearly defined grades for each job role and there is a career development budget available to all staff. All staff participate in annual and 6 monthly appraisal processes that include a Personal Development Plan agreed with the line manager so that all team members understand their roles and responsibilities. In addition, new starters have a 3-month review as part of onboarding programme. There is a regular schedule of staff training events and access to online learning courses covering a wide range of subject areas. There is an ongoing policy development programme in place and during 21/22 a Flexible Working Policy was introduced along with enhancements made to FNF’s HR policy range.

4. Programme delivery costs exceed income due to high levels of inflation resulting in a reduction in funds for other investment opportunities such as the provision of additional scholarships

FNF has a robust and comprehensive set of financial policies and procedures in place to control financial risks. However, whilst the Foundation exercises tight control and scrutiny of budgets, income, and

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expenditure the high levels of inflation currently being experienced in the UK and globally poses a risk to the levels of FNF’s surplus and consequently the number of nurses and midwives FNF can provide programmes and scholarships to.

The impact of inflation on new and existing contracts is being closely monitored through frequent reviews and regular updating of forecasts. All programmes are subject to appropriate cost and profitability analyses to assess long term profitability. Where practicable, the utilisation of internal

resources to deliver programmes and events has been increased to reduce certain supply chain cost elements.

In May we welcomed Gary Justice as the new Governance, Quality and Assurance Manager and in October, Fin Bradley joined the committee as a new member. The Governance and Assurance Committee believes that all risks to the Foundation arising from activities in 2021-22 had been identified and mitigated against as far as possible.

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Annual Accounts

Statement of Trustee Responsibilities

The directors of FNF are also the trustees of the charity and are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the situation of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention

and detection of fraud and other irregularities.

As far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees on 31 March 2022 was 17. The honorary officers and trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Auditor

Sayer Vincent LLP was appointed as the charitable company's auditor in September 2019 and have expressed their willingness to continue in office for the forthcoming year.

The annual report has been prepared in accordance with the special provisions applicable to companies, subject to the small companies' regime.

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Florence Nightingale Foundation Annual Report 2021-2022

The annual report has been approved by the Annual General Meeting on 13 September 2022 and signed on its behalf by the President.

Baroness Watkins of Tavistock President

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Florence Nightingale Foundation Annual Report 2021-2022

Report of the Independent Auditor to the Members of the Florence Nightingale Foundation

Opinion

We have audited the financial statements of Florence Nightingale Foundation (the ‘charitable company’) for the year ended 31 March 2022 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK)

(ISAs (UK)) and applicable law. Our responsibilities under those standards are

further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Florence Nightingale Foundation's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

41

Florence Nightingale Foundation Annual Report 2021-2022

Other Information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on Which we are Required to Report by Exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the

42

Florence Nightingale Foundation Annual Report 2021-2022

financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s Responsibilities for the Audit of the Financial Statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and

regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the Audit in Detecting Irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We enquired of management and the Finance and Investment committee, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:

43

Florence Nightingale Foundation Annual Report 2021-2022

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of Our Report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Fleur Holden (Senior statutory auditor)

14 October 2022

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

44

The Florence Nightingale Foundation

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2022

For theyear ended 31 March 2022
2022 2021
Unrestricted Restricted Total Unrestricted Restricted Total
Note £ £ £ £ £ £
Income from:
Donations 2 59,844 1,000 60,844 113,382 - 113,382
Charitable activities
Scholarships 3 64,300 955,860 1,020,160 75,076 782,615 857,691
Commissioned leadership programmes 1,516,196 - 1,516,196 707,065 - 707,065
Frontline training 338,976 - 338,976 337,553 - 337,553
Membership Fees 228,803 - 228,803 33,796 - 33,796
Consultancy - - - 38,106 - 38,106
International nursing support - 225,000 225,000 18,600 27,820 46,420
Investments 4 29,104 - 29,104 31,495 - 31,495
Total income 2,237,223 1,181,860 3,419,083 1,355,073 810,435 2,165,508
Expenditure on:
Raising funds 5 141,549 - 141,549 109,369 - 109,369
Charitable activities
Scholarships 5 - 1,056,330 1,056,330 - 745,627 745,627
Commissioned leadership programmes 5 1,204,948 - 1,204,948 673,821 - 673,821
Frontline training 5 80,388 - 80,388 86,033 - 86,033
International nursing support 5 - 193,490 193,490 - - -
Other charitable activities 5 255,145 - 255,145 127,114 27,820 154,934
Total expenditure 1,682,030 1,249,820 2,931,850 996,337 773,447 1,769,784
Net income / (expenditure) before net gains
/ (losses) on investments 555,193 (67,960) 487,233 358,736 36,988 395,724
Net gains / (losses) on investments 56,646 - 56,646 149,225 - 149,225
Net income / (expenditure) for the year 6 611,839 (67,960) 543,879 507,961 36,988 544,949
Transfers between funds 81,956 (81,956) - - - -
Net movement in funds 693,795 (149,916) 543,879 507,961 36,988 544,949
Reconciliation of funds:
Total funds brought forward 1,345,074 408,048 1,753,122 837,113 371,060 1,208,173
Total funds carried forward 2,038,869 258,132 2,297,001 1,345,074 408,048 1,753,122

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 19a to the financial statements.

45

The Florence Nightingale Foundation

Company no. 00518623

Balance sheet

As at 31 March 2022

As at 31 March 2022
Note
Fixed assets:
10
11
12
13
Current assets:
14
Liabilities:
15
16
17
Total unrestricted funds
Net current assets
Total assets less Current liabilities
Total Net Assets
Unrestricted income funds:
General funds
Creditors: amounts falling due after one year
Listed investments
Cash at bank and in hand
Fixed assets
Debtors
Intangible assets
Investment in subsidiary
Creditors: amounts falling due within one year
Restricted income funds
Total funds
Funds:		 2022
Total
£
16,947
38,860
1,155,590
-		 2021
Total
£
21,183
32,655
1,024,457
-
1,211,397
2,676,692
2,919,362		 1,078,295
1,265,972
3,114,501
5,596,054
(4,323,054)		 4,380,473
(3,258,358)
1,273,000 1,122,115
2,484,397 2,200,410
(187,396) (447,288)
2,297,001 1,753,122
258,132
2,038,869		 408,048
1,345,074
2,038,869 1,345,074
2,297,001 1,753,122

Approved by the trustees on 13 September 2022 and signed on their behalf by

Dame Yvonne Moores DBE Charlotte Vitty Chair Treasurer

46

The Florence Nightingale Foundation

Statement of cash flows

For the year ended 31 March 2022

For theyear ended 31 March 2022
Note
Net income / (expenditure) for the reporting period
(as per the statement of financial activities)
Depreciation charges
(Gains)/losses on investments
Dividends and interest from investments
(Profit)/loss on the disposal of fixed assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by / (used in) operating activities
Dividends and interest from investments
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Net cash provided by / (used in) investing activities
Cash flows from investing activities:
Purchase of fixed assets
Purchase of investments
Cash flows from operating activities		 £
£
543,879
19,718
(56,646)
(29,104)
-
(1,410,720)
804,804
(128,069)
29,104
(21,687)
(74,487)
(67,070)
(195,139)
3,114,501
2,919,362
2022		 £
£
544,949
16,469
(149,225)
(31,495)
1,015
(333,002)
1,023,760
1,072,471
31,495
(20,561)
100
11,034
1,083,505
2,030,995
3,114,501
2021
(128,069)
(67,070)		 1,072,471
11,034
(195,139)
3,114,501		 1,083,505
2,030,995
2,919,362 3,114,501

47

The Florence Nightingale Foundation

Notes to the financial statements

For the year ended 31 March 2022

1 Accounting policies

a) Statutory information

The Florence Nightingale Foundation is a charitable company limited by guarantee and is incorporated in the United Kingdom. The registered office address and principal place of business is 10-18 Union Street, London, SE11 1SZ.

b) Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity also had a wholly owned subsidiary, Florence Nightingale Commercial Limited. Consolidated accounts have not been prepared as the difference between parent and group is immaterial. The company was dormant since incorporation on 3 May 2019. As no longer required this company was deleted from the register as at 26th December 2020. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

The Trustees have confirmed that the going concern is an appropriate basis for preparing these accounts. They recognise that there are uncertainties in general about the future environment but given the assets, reserves and the view of the Foundation's future cash flows they consider the charity has the ability to continue as a going concern.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income received in advance of the provision of a specified service, including Commissioned programmes and Frontline training income, is deferred until the criteria for income recognition are met.

Income from Scholarships is recognised in line with entitlement to that income, i.e. when a scholar has been selected and the scholarship commenced. Where funding is received in year for scholarships to be provided in future years the income is restricted.

Income received from scholarship funders as a contribution towards the costs of administering the scholarship is treated as restricted income in the year that the scholarship is undertaken.

Income received from scholar's employers as a contribution towards the costs of administering the scholarship is treated as unrestricted income and recognised in the same period that the scholarship is undertaken.

Income from membership is recognised in the period to which it relates. The annual membership year runs from 1 April to 31 March.

Claims made through the UK Government’s Coronavirus Job Retention and Support Schemes are recognised as income in the period which the associated staff were furloughed. This income is considered to be unrestricted.

48

The Florence Nightingale Foundation

Notes to the financial statements

For the year ended 31 March 2022

1 Accounting policies (continued)

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

g) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis i.e. fundraising 10%, commissioned programmed 35%, scholar programme 24%, other activities 10%, governance 10% and support 11%, which are an estimate, based on staff time, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

l) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1000. This includes grouped assets where the overall value of the 'set' of items is considered. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

5 years

49

The Florence Nightingale Foundation

Notes to the financial statements

For the year ended 31 March 2022

1 Accounting policies (continued)

m) Intangible assets

Intangible assets are capitalised where the purchase price exceeds £1000. Amortization costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are amortised separately over its useful life.

Amortisation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The amortisation rates in use are as follows:  Branding Marketing and Design 5 years

n) Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

o) Investments in subsidiaries

Investments in subsidiaries are at cost.

p) Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due.

q) Cash at bank and in hand

Cash at bank and cash 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.

r) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

s) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

t) Pensions

Florence Nightingale Foundation contributes to a Defined Contribution Scheme operated by NEST.

50

The Florence Nightingale Foundation

Notes to the financial statements

For the year ended 31 March 2022

For the year ended 31 March 2022
2
Unrestricted
£
59,844
Event sponsorship
-
Florence Alumni
-
-
59,844
3
Unrestricted
£
Scholarships resources
-
Scholarships support
64,300
Total for scholarships
64,300
4
Unrestricted
£
29,000
104
29,104
Government Coronavirus Job
Retention and Support
Scheme
Income from charitable activities
Gifts and donations from
fundraising events
Bank interest
Income from donations
Income from investments
Dividends		 Unrestricted
£
59,844
-
-
-		 £
1,000
-
-
-
Restricted		 2022
Total
£
60,844
-
-
-		 Unrestricted
£
96,281
3,668
935
12,498		 £
-
-
-
-
Restricted		 2021
Total
£
96,281
3,668
935
12,498
59,844 1,000 60,844 113,382 - 113,382
£
832,000
123,860
Restricted		 2022
Total
£
832,000
188,160		 Unrestricted
£
-
75,076		 £
670,000
112,615
Restricted		 2021
Total
£
670,000
187,691
64,300 955,860 1,020,160 75,076 782,615 857,691
Unrestricted
£
29,000
104		 £
-
-
Restricted		 2022
Total
£
29,000
104		 Unrestricted
£
30,819
676		 £
-
-
Restricted		 2021
Total
£
30,819
676
29,104 - 29,104 31,495 - 31,495

51

The Florence Nightingale Foundation

Notes to the financial statements

For the year ended 31 March 2022

Raising funds
£
-
-
-
-
79,372
5,379
-
-
-
-
-
-
-
-
-		 Commissioned
Leadership
Programmes
£
-
737,924
-
-
277,802
18,828
-
-
-
-
-
-
-
-
-		 Scholarships
£
686,726
-
-
-
186,565
12,645
-
-
-
-
-
-
-
-
-		 FN Frontline
training
£
-
-
80,388
-
-
-
-
-
-
-
-
-
-
-
-		 International
nursing
support
£
-
-
-
193,490
-
-
-
-
-
-
-
-
-
-
-		 Other Activities
£
-
-
-
-
79,372
5,379
-
-
-
-
-
-
-
-
-		 Governance
costs
£
-
-
-
-
79,372
5,379
74,573
3,591
3,171
97
48,019
26,258
899
9,859
39,616		 Support costs
£
-
-
-
-
91,238
6,184
74,573
3,591
3,171
-
48,019
-
899
9,859
39,616		 2022
Total
£
686,726
737,924
80,388
193,490
793,721
53,794
149,146
7,181
6,341
97
96,037
26,258
1,798
19,718
79,231
84,752
27,715
29,083		 1,034,554
83,144
87,250		 885,936
83,144
87,250		 80,388
-
-		 193,490
-
-		 84,751
83,144
87,250		 290,832
-
(290,832)		 277,147
(277,147)
-		 2,931,850
-
-
141,549 1,204,948 1,056,330 80,388 193,490 255,145 - - 2,931,850

52

The Florence Nightingale Foundation

Notes to the financial statements

For the year ended 31 March 2022

Analysis of expenditure (prior year)
Scholarships awarded
Commissioned Programme External Costs
FN Frontline Costs
Staff Costs
Office Administration
Premises
Travel and Accommodation & Subsistence
Trustee Expenses
Professional fees
Audit
Accountancy
Depreciation, Amortisation & Loss on Disposal
Sundry
Support Costs
Governance costs
Total expenditure 2021
Total expenditure 2020
 Raising funds
£
-
-
-
64,757
-
-
-
-
-
-
-
-
-		 Commissioned
Leadership
Programmes
£
-
338,344
-
226,649
-
-
-
-
-
-
-
-
-		 Scholarships
£
511,554
-
-
152,212
-
-
-
-
-
-
-
-
-		 FN Frontline
Costs
£
-
-
86,033
-
-
-
-
-
-
-
-
-
-		 Other Activities
£
-
-
-
64,757
-
-
-
-
-
-
-
-
-		 Governance
costs
£
-
-
-
64,757
27,144
16,905
681
-
10,950
10,000
5,580
8,743
17,139		 Support costs
£
-
-
-
74,437
27,144
16,905
681
-
10,950
-
5,580
8,743
19,139		 2021
Total
£
511,554
338,344
86,033
647,569
54,288
33,810
1,362
-
21,900
10,000
11,160
17,486
36,278
64,757
28,422
16,190		 564,993
60,259
48,570		 663,766
33,292
48,570		 86,033
-
-		 64,757
41,607
48,570		 161,899
-
(161,899)		 163,579
(163,579)
-		 1,769,784
-
-
109,369 673,821 745,627 86,033 154,934 - - 1,769,784
114,619 339,964 1,133,148 - 31,521 - - 1,619,254

53

The Florence Nightingale Foundation

Notes to the financial statements

For the year ended 31 March 2022

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2022 2021
£ £
Amortisation of intangible assets 4,236 8,473
Depreciation of fixed assets 15,482 7,996
Loss on disposal of fixed assets - 1,015
Operating lease rentals:
Property - 19,903
Auditor's remuneration (excluding VAT):
Audit 26,258 9,300
Other services 1,798 9,832

7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
Ex-gratia termination and redundancy payments
Employers contributions to defined contribution pension schemes
Salaries and wages
Social security costs		 2022
£
687,286
10,000
60,111
36,324		 2021
£
596,971
-
41,501
9,097
793,721 647,569

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:

2022 2021
No. No.
£70,000 - £79,999 1 3
£80,000 - £89,999 - -
£90,000 - £99,999 1 1

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £250,536 (2021: £341,322).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs to the nine trustees total (£nil) (2021: £nil).

The average number of employees (head count based on number of staff employed) during the year was 16.5 (2021: 11.5).

Other Charitable Activities.
Staff are split across the activities of the charity as follows (full time equivalent basis):
Governance
Scholarships
Raising funds
Support		 2022
No.
1.0
1.0
6.5
7.0
1.0		 2021
No.
1.0
3.0
5.0
1.5
1.0
16.5 11.5

54

The Florence Nightingale Foundation

Notes to the financial statements

For the year ended 31 March 2022

9 Related party transactions

There are no related party transactions to disclose for 2022 (2021: none).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

10 Intangible assets

Intangible assets
Net book value
At the end of the year
At the end of the year
At the start of the year
Additions in year
Cost
At the start of the year
Amortisation
At the start of the year
Cost
Tangible fixed assets
Net book value
At the start of the year
At the end of the year
At the end of the year
Charge for the year
Disposals in year
At the start of the year
Additions in year
At the end of the year
At the start of the year
Eliminated on disposal
At the end of the year
Depreciation
Charge for the year		 Website
£
42,367
-		 Total
£
42,367
-
42,367 42,367
21,184
4,236		 21,184
4,236
25,420 25,420
16,947 16,947
21,183 21,183
Office
equipment
and furniture
£
51,543
21,687
-		 Total
£
51,543
21,687
-
73,230 73,230
18,888
15,482
-		 18,888
15,482
-
34,370 34,370
38,860 38,860
32,655 32,655

All of the above assets are used for charitable purposes.

55

The Florence Nightingale Foundation

Notes to the financial statements

For the year ended 31 March 2022

12 Listed investments

he year ended 31 March 2022
Listed investments
Additions at cost
COIF Property
COIF Fixed Interest
Disposal proceeds
COIF Investment Fund
Net gain / (loss) on change in fair value
Investments comprise:
Fair value at the start of the year		 2022
£
1,024,457
190,500
(116,013)
56,646		 2021
£
875,232
-
-
149,225
1,155,590 1,024,457
2022
£
137,417
706,492
311,681		 2021
£
11,303
905,357
107,797
1,155,590 1,024,457

13 Investment in subsidiary

During 2019/20, the charity set up a wholly owned subsidiary, Florence Nightingale Commercial Limited. The company was limited by shares and registered at Companies House in England and Wales. The company was dormant since incorporation on 3 May 2019 and was removed from the register of Companies on 29 December 2020.

14 Debtors

Other debtors
Accrued income
Prepayments
Trade debtors		 2022
£
2,596,885
6,747
73,060
-		 2021
£
1,230,577
-
30,136
5,259
2,676,692 1,265,972

15 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade Creditors
Other creditors
Taxation and social security
Deferred income (see below)
Held for third parties as custodian
Accruals		 2022
£
169,407
-
235,872
18,496
11,000
3,888,279		 2021
£
65,283
19,533
10,872
6,669
94,019
3,061,982
4,323,054 3,258,358

16 Creditors: amounts falling due after one year

Deferred income (see below)

2022 2021
£ £
187,396 447,288

56

The Florence Nightingale Foundation

Notes to the financial statements

For the year ended 31 March 2022

17 Deferred income

he year ended 31 March 2022
Deferred income
Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year
Deferred income less than one year
Deferred income between 1 and 2 years
Commissioned Courses
Scholarship Programme
Frontline training
Membership
Other and secondment funding
Analysis of net assets between funds (current year)
Net assets at 31 March 2021
Deferred income: amounts falling due after one year
Listed investments
Tangible fixed assets
Deferred income: amounts falling due within one year
Net assets at 31 March 2022
Intangible assets
Deferred income balances comprises funds received in advance for:
Listed investments
Intangible assets
Analysis of net assets between funds
Net current assets excluding deferred income
Deferred income: amounts falling due after one year
Tangible fixed assets
Net current assets excluding deferred income
Deferred income: amounts falling due within one year		 £
16,947
38,860
1,155,590
3,157,962
(2,143,094)
(187,396)
Unrestricted
funds		 2022
£
3,509,270
(3,509,270)
4,075,675		 2021
£
2,451,116
(1,524,366)
2,582,520
4,075,675 3,509,270
3,888,279
187,396		 3,061,982
447,288
4,075,675 3,509,270
2022
£
1,038,578
1,745,185
35,000
220,100
1,036,812		 2021
£
1,082,158
1,889,758
168,859
113,000
255,495
4,075,675 3,509,270
Restricted
funds
£
-
-
-
2,003,317
(1,745,185)
-		 Total funds
£
16,947
38,860
1,155,590
5,161,279
(3,888,279)
(187,396)
2,038,869 258,132 2,297,001
£
21,183
32,655
1,024,457
1,886,291
(1,619,512)
-
Unrestricted
funds		 Restricted
funds
£
-
-
-
2,297,806
(1,442,470)
(447,288)		 Total funds
£
21,183
32,655
1,024,457
4,184,097
(3,061,982)
(447,288)
1,345,074 408,048 1,753,122

18a Analysis of net assets between funds (current year)

18b Analysis of net assets between funds

57

The Florence Nightingale Foundation

Notes to the financial statements

For the year ended 31 March 2022

19a Movements in funds (current year)

he year ended 31 March 2022
Movements in funds (current year)
Total restricted funds
General funds
International nursing support
Scholarship commitments
Restricted funds:
Total unrestricted funds
Total funds		 £
408,048
-
At 1 April
2021		 £
956,860
225,000
Income &
gains		 £
(1,056,330)
(193,490)
Expenditure
& losses		 £
(81,956)
-
Transfers		 £
226,622
31,510
At 31 March
2022
408,048 1,181,860 (1,249,820) (81,956) 258,132
1,345,074 2,293,869 (1,682,030) 81,956 2,038,869
1,345,074 2,293,869 (1,682,030) 81,956 2,038,869
1,753,122 3,475,729 (2,931,850) - 2,297,001

Purposes of restricted funds

Scholarship commitments reflect scholarships awarded but not yet fully paid out by the Foundation.

International nursing support funds represent funds held by the Foundation to be paid as support grants to international nursing organisations.

Transfers

The transfer from restricted to unrestricted funds relates to balances remaining on scholarship programmes completed in prior years. The Foundation believes these funds were spent on the relevant programmes in prior years.

19b Movements in funds

Movements in funds
At 1 April
2020 as Income & Expenditure At 31 March
Restated gains & losses Transfers 2021
£ £ £ £ £
Restricted funds:
Scholarship commitments 371,060 810,435 (773,447) - 408,048
Total restricted funds 371,060 810,435 (773,447) - 408,048
General funds 837,113 1,504,298 (996,337) - 1,345,074
Total unrestricted funds 837,113 1,504,298 (996,337) - 1,345,074
Total funds 1,208,173 2,314,733 (1,769,785) - 1,753,122

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

Less than one year
One to five years		 2022
2021
£
£
22,050
-
88,200
-
110,250
-
Property		 2022
2021
£
£
22,050
-
88,200
-
110,250
-
Property
110,250 -

58