Charity Registration No. 247336 FRIENDS OF LEWES vicfoRIA HOSPITAL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 BUSINESS ADVISORS &ACCOUNTANTS One Bell Lane Lewes East Sussex BN7 IJU
FRIENDS OF LEWES VICTORIA HOSPITAL CONTENTS Page Company information Trustees, report Independent examiner's report Statement of financial activities Balance sheet io Notes to the financial statements 11-18
FRIEND5 OF LEWES vicfoRIA HOSPITAL LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs J B Baillie-Hamilton Dr R Ross Mr C Kneale Ms C Ferguson Mrs D Freestone Mrs S Pearson Mrs L Walton Mrsj Sallis Mr C Lloyd (Appointed 25 September 20241 (Appointed 18 July 20241 Ms J Barnett Charlty number 247336 Principal address Nevill Road Lewes East Sussex BN7 IPE Independent examiner TC Group One Bell Lane Lewes East Sussex BN7 IJU Bankers Barclays Bank PIC Leicester Leicestershire LE87 2BB Investment advlsors Charles Stanley & Co Ltd 14 Hyde Gardens Eastbourne East Sussex BN214PR
FRIENDS OF LEWES VICTORIA HOSPITAL TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The h'nancial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFF 1021" leffective l January 20191. Objectives and activities The principal objectr'ves as defined in the Constitution of the charity are:_ al To mobilise, encou rage, foster and maintain the interest of the public in the patients and staff and support the work of the Lewes Victoria Hospital by means of volu ntary service. bl To maintain the relations and association which exist between voluntary bodies and the Lewes Victoria Hospital and to provide opportunity for such voluntary bodies to contr.nue their activities for the benefit of the Lewes Victoria Hospital. cl To provide funds for the purpose of supplementing in such manner as the Friends of Lewes Victoria Hospital think ht the resources of the hospital and local healthcare providers that support it. dl To recruit and a5SiSt in the recruitment of voluntary workers in and for the hospital. Funds are raised from fundraising events, collecting boxes located in the area, by donations by cash, via BACS, cheque or Standing order and via the Friends of Lewes Victoria Hospital IFOLVHI website which provi(ks facilities to donate online. A contactless card donation unit has been installed at the Urgent Treatment Centre and additional ways of making it easier for donors to make donations continue to be explored. FOLVH also benefits f rom legacies and donations made by patr.ents at the Victoria Hospital and by their relatives. Where the availability of NHS funds allows, major projects and purchases are financed jointly with the controlling NHS Trust. FOLVH operates a policy whereby it does not finance any item or project which would commit the charity to an ongoing funding requirement since there is no Euarantee of future income to cover such costs. These are considered to fall under the heading of 'revenue' expenditure and are considered to be the responsiEility of the controlling NHS Trust. They would include such items as ongoing maintenance contracts for equipment purchased and the employment of staff. The trustees have paid due regard to gu idance issued by the Charity Commission in deciding what activits'es the charity Should undertake.
FRIENDS OF LEWE5 vicfoRIA HOSPITAL TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 During the year FOLVH paid for Replacement DEXA bone density scanner- £68,950 Christmas hampers for staff - £1,034 Operating theatre lights and camera- £29,209 Air conditioning for patient treatment room- £5,513 Call bells for Intermediate Care U nit £1,408 Ferrara Treatment chair- £7,893 Air conditioning for Outpatr'ents, room- £5,205 FOLVH has also committed to fund: Topcon OCD Machine for ophthalmic clinic- £29,216 Riser/Recliner chairs - £4,450 Operating Trolleys x 2 - £18,228 PCN testing device- £6,600 Plume Extraction System - £4,386 Ultrasound machine- £49,790 BOWA Electrical Surgical Unit - £12,718 Feasibility study for the provision of a Dementia Centre within Lewes- £80,000 Intermediate Care Unit Nursing Station renovations - £33,780 Intermediate Care Unit Staff Room redecoration and furniture- £7,720 Financial review Reserves policy With the exception of the Beatrice Braban endowment, the net assets of the Charity are held as unrestricted funds other than a proportion which may, at the discretion of the Trustees. be held in a period investment. The Tru5tee5 recognise that the policy should reflect the ongoing and long-term nature of the charity and, as such, have carried out a review of the likely costs of running the charity. Following this review, the Trustees consider that investments should be held at a level to ensure that they would have adequate income to maintain the running ofthe charity. The Trustees are actively working with the management of Lewes Victoria Hospital and with the Trusts contracted to run services at Lewes Victoria to establish the utilisation of unrestricted funds over and above the requirement that is necessary to maintain the running of the charity
FRIENDS OF LEWES VICTORIA HOSPITAL TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Investment Policy Principal Objective The principal investment objective of the FOLVH is to maintain a balance between income and capital growth of funds bequeathed or donated and to ensure funds are readily available to meet projects which it decrles to support. The income requirement should not erode the potential to maintain or increase the capit31 lue in real terms. Investment Management The investment portfolio is managed on a fully discretionary basis by Charles Stanley & Co Limited Icharles Stanley) who act as the Trustees nominee. An investment risk assessment has been undertaken in conjunction with Charles Stanley which has concluded that a Medium/Low risk approach should be followed. Funds are held within a broad portfolio of investments and cash deposits in order to spread risk and allow a quick response to market changes. An investment manager from Charles Stanley attends meetings of the Finance Committee to review the investment portfolio and risks, present investment management reports and provide valu3tK)ns. Trustees have instigated a review of investment performance against external benchmarks and are proposing to appoint an independent financial advisor to assess whether FOLVH should change its investment strategy. Beatrice May Braban Endowment Funds are applied for the benefit of the hospital in accordance with the Will of Beatrice Braban, which requires the capital sum to be invested and only the income used for the benefit of the hospital. Investments are managed as part of the charity's overall investment portfolio but ring fenced and kept separate. The value of the investments and the income arising from them are separately reported. Decision Making and Implementation The Finance and Risk Committee Icomprising the Chair, Treasurer and two other members of the Executive Committee} meets twice a year to review how investments are managed within the overall framework of the investment policy, in conju nction with the investment manager from Charles Stanley. The finèncial Fx)5ition of the charity is reviewed at each Executive Committee meeting. General At least £500,000 in investments or cash which can be realised on giving no greater than 3 months, notice without significant penalty is maintained. Ethical Restrittions I nvestments in companies with significant involvement with the tobacco, gambling or arms industries are avoided wherever possible. Reporting Charles Stanley provides online facilities to allow the Treasurer to view details of the investment portFolio, its value, dividends paid and management charges incurred. Statements of account, valuations and other reports are sent regu larly to the Treasurer throughout the year. Trustees receive quarterly investment perforMae reports. Investment statements and report5 as required for examination of the annual accounts and the Annual Report are also provided.
FRIENDS OF LEWES vicfoRIA HOSPITAL TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Risk Management Trustees collectively manage risks through the Executive Committee and in accordance with the Risk Management Policy. A register of risks is maintained and Trustees actively review the major risks which the charity faces at each Finance and Risk Committee and Executive Committee meeting. If required, outside professional experts are engaged to advise how mitigation of risks that fall beyond the knowledge and experience of Trustees should be managed. The Trustees have also examined other operational and business risks faced by FOLVH and confirm that they have established risk management systems to mitigate signih'cant risks. Trustees consider that maintaining the level of the free Serves, professional management of its investment portfolio combined with quarterly reviews of financial performance will provide sufficient resources in the event of adverse conditions.
FRIENDS OF LEWES vicfoRIA HOSPITAL TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Plans for future periods NHS Sussex was established in 2022 as an Integrated Care Board IICBI. The ICB is responsible for improving the way the NHS plan and pay for local services, and better support local health and care organisations to give people the care they need. NHS Sussex forms part of Sussex Health and Care, a new Integrated Care System that aims to help.. Support people to live for longer in good health. Make sure our disadvantaged communities get the care they need. Improve people's experience of using services. Better support health and care staff. Make better use of resources available. The ICB is responsible for commissioning all Community Care services in our area and the delivery of services at the Lewes Victoria Hospital is currently provided by The Sussex Community Foundation NHS Trust ISCFT), University Hospitals Sussex NHS Trust IUHSI, Sussex Partnership Foundation Trust ISPFTI and East Sussex Healthcare NHS Trust IESHTI. NHS Property Services Ltd own the premises and are responsible for maintaining them. AII NHS Trusts continue to face a challenging financial climate and the role of FOLVH in providing funds for improving facilities, services and equipment at the hospital remains vital. FOLVH will conti nue to maintain close links with the SCFT, UHS, SPFT, ESHT and all other Service Providers at the Victoria Hospital and Lewes Victoria Hospital personnel in order to determine priorities for the exper)diture of the charity's funds. The overall aim will however continue to be to help the Victoria Hospital to remain flexible in its ability to provide the most effective, efficient and up to date treatment/service for the local population as possible. Following the 21 June 2022 amendment to the Objects of the charity, approved by the Charity Commission, funding has been extended to projects promoted by local healthcare providers that support the hospitsl and funding of further community projects is being explored. With the increasing demands on the healthcare service and the cost of living impact, it is essential for Trustees to review their approach and ensure they continue to provide support to improve the health of our community. A three year strategy h35 been developed and approved by Trustees. The Strategy sets Out how FOLVH will adapt from a Charity that has operated within a largely Stable NHS service environment staffed by a local clinical Community, to a more of a transient 'Health Hub, NHS services model. The Strategy aims to continue to deliver the purpose set out in the Constitution by carrying out the following.. Adapt to raise funds in a more compets.tive fundraising environment Adapt how we collaborate with NHS Trusts based on the move to more business like large centralised organisations Increase the visibility of the benefits of the hospital including the role of FOLVH in the local community Expand our support to wider care services that aim to prevent poor heath or improve health outcomes including a new direction of a wider spectrum of health and social care Adapt our policies to meet the new direction of the Charity in line with Charity Commission guideline5 Support the Trustees and Volunteers to meet the new challenges
FRIENDS OF LEWES vicfoRIA HOSPITAL TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structurei governance and management The trustees act under the 'Objects and Rules, of the League of Friends adopted 7 March 1966 as anEnded 29 May 1997, 27 May 1998 and 25 May 2016, 21 October 2021, 21 June 2022 and 18 July 2024. The trustees who served during the year and up to the date of signature of the financial statements were= Mrsj B Baillie-Hamilton J Clark Dr R Ross Mrc Kneale Ms C Ferguson Mrs J A Mcclelland Mrs D Freestone Mrs S Pearson Mrs Lwalton Mrs J Sallis Mrc Lloyd Ms J Barnett (Resigned 18 Ju ly 20241 (Resigned 18 July 2024) (Appointed 25 September 20241 (Appointed 18 July 20241 The Trustees are the members for the time being of the Executive Committee of FOLVH. The Chair is appointed initially for a term of 5 years, which may be extended for a further term of 5 years or on an annual basis at an Annual General Meeting. The Treasurer of the FOLVH is elected at an Annual General Meeting and is a rnember of the Committee, which fixes the period of their appointment. The Committee may at any time remove the Treasurer from office and appoint some other person in their place. Upon election, a new Trustee is sent a copy of the Charity Commission'5 publication The Essential Trustee, What you need to know" which explains their duties as a Trustee. They also receive a copy of the charity's Annual Report and Financial Statements, the Financial Policy, the I nvestment Policy, Risk Management Policy and Serious Incident Reporting Policy, together with a verbal introduction to the workings and objectives of the FOLVH. A tour of the Victoria Hospital is organised by arrangement with the Hospital management to meet the staff and to ensure familiarity with the facilities, the current and anticipated pattern of health care provision at the hospital and any known needs with which FOLVH may be able to assist. The Treasurer presents an interim financial investment statement, financial analysis and commentary to the quarterly Executive Committee meetings where any applications from the hospital management for funding are considered. Decisions are confirmed in writing. Additionally at the meetin8S, the Trustees agree the broad strategy and areas of activity for FOLVH. Specific consideration is given to the current financial status of FOLVH, risk management, fund raising actiifities, organisational Matters, and any perceived changes in the pattern of need or giving and to matters relating to the NHS structure and/or service provision which may impact on the activities of FOLVH or calls on its funds.
FRIENDS OF LEWES VICTORIA HOSPITAL TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A Finance and Risk sub-committee is appointed by the Trustees to assist the Treasurer in reviewing the risks to investments, the level of cash funds and, following consu Itation with the charity's investment advisers. proposing to the Trustees recommendations for any change in the overall investment strategv. FOLVH has implemented an Investment Policy, a Financial Policy, a Risk Management Policy and a Serious Incident Reporting Policy, which set out the internal fi'nancial and management controls for the charity. Each policy is subject to review on a regu lar basis. FOLVH is a member of the National Association of Leagues of Friends. The trustees, report was approved by the Board of Trustees. Mrs L Wal Trustee Date:
FRIENDS OF LEWES vicfoRIA HOSPITAL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FRIENDS OF LEWES VICTORIA HOSPITAL I report to the trustees on my examination of the financial statements of Friends of Lewes Victoria Hospital (the charity) for the year ended 31 March 2025. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on l April 2005 which is referred to in the eXtt regulations but has now been withdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after I January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by settion 130 of the 2011Act; or the h'nancial statements do not accord with those records,. or the financial statements do not comply with the applicable requirements concerning the fomi and content of account5 Set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirementthat the accounts give a true and fair view which is not a matter considered as part of an independenl examination. I have no concer shoul ra and have come acr055 no other matters in connection with the examination to whih attention this report in order to enable a proper understanding of the linancial statements to be rea Nicholas Rawson FCA TC Group One Bell Lane Lewes East Sussex BN7 IJU Dated:
FRIENDS OF LEWES VICTORIA HOSPITAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Endowment funds funds Total Unrestricted Endowment funds funds Total 2025 2025 2025 2024 2024 2024 Notes Income from: Donations and legacies Other trading activities Investment5 24,156 13,233 74.081 24,156 13,233 74,081 9,993 8,193 70,035 9,993 8,193 70,035 Total income 111,470 111,470 88,221 88,221 Expenditure on: Raising funds Charitable activities 15,545 92,210 15,545 92,210 13,505 151,332 13,505 151,332 Total expenditure 107,755 107,755 164,837 164,837 Net gains/llossesl on investments 138,3671 18,6331 147,0001 43,212 9,364 52,576 Net expenditure and movement in funds {34,6521 18.6331 143,2851 133,4041 9,364 124,0401 Reconciliation of funds: Fund balances at l April 2024 1,867,768 249,864 2,117,632 1,901,172 240,500 2,141,672 Fund balances at 31 March 2025 1,833,116 241,231 2,074,347 1,867,768 249,864 2,117.632
FRIEND5 OF LEWES vicfoRIA HOSPITAL BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Fixed assets Investments li 1.603,802 1,661,545 Current assets Debtors Cash at bank and in hand 12 5,049 604,277 3,368 622,108 609,326 625.476 Creditors: amounts falling due within one year 13 (138.7811 1169.3891 Net current assets 470,545 456,087 Total assets less current liabilities 2,074.347 2,117,632 The funds of the charity Endowment funds Unrestricted funds 14 241,231 1,833,116 249,864 1,867,768 2,074,347 2,117,632 The financial statements were approved by the trustees on ..S.li./. /.o.2S fvL MrsL W Trustee 10-
FRIENDS OF LEWES vicfoRIA HOSPITAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity information The charity is a registered charity constituted under the 'Objects and Rules of the League of Friends adopted 7 March 1966, as amended. 1.1 Accounting convention The fi'nancial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charitses.. 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 IFRS 1021" leffective l January 20191. The charity is a Public Benefi't Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charitie5 applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The accounts have departed from the Charities IAccounts and Reportsl Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to entities applyinE FRS102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The h'nancial statements are prepared in sterling, which is the fu nctr.onal currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared on the historical cost convention, modih'ed to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements. the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purwses and uses of the restricted funds are set out in the notes to the accou nts. Endowment fund5 are subject to specific conditions by donors that the capital must be maintained E¥ the charity. 1.4 Income Income 15 recognised when the charity is legally entitled to it after any performance conditions FFve been met, the amounts can be measured reliably, and it is probable that income will be received. 11
FRIENDS OF LEWES VICTORIA HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Interest on funds held on deposit is included upon notification of the interest paid or payable by the Bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending d istribution, the amount is known, and receipt is expetted. If the amount is not known, the legacy is treated as a contingent asset. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes. 1.5 Expenditure Expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. The charity is not registered for vat and accordingly expenditure is shown gross of vat. Costs of generating funds - The cost of generating funds consists of investment manager's fees. Charitable activities - Charitable activities include expenditure associated with the objects of the charity and also include support costs relating to these activities. Governance costs - Governance costs include those costs incurred in the governance of the charity and are primarily associated with constitutional and statutory requirements. 1.6 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/lexpenditurel for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other 5hort-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdraft5 are shown within borrowing5 in current liabilities. 1.8 Debtors Debtors are recognised at the settlement amount after any discount offered. Prepayments are valued at the amount repaid net of any discounts due. 12-
FRIENDS OF LEWES VICTORIA HOSPITAL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued} 1.9 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 setde the obligatt.on can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due. Income from donations and legacies Unrestricted funds Unrestricted funds 2024 2025 Donations and gift5 Legacies 9,381 14,775 9,993 24,156 9,993 Income from other trading activities Unrestricted Unrestricted funds funds 2025 2024 Fundraising events 13,233 8.193 Intome from investments Unrestricted Unrestricted funds funds 2024 2025 Income from listed investments Interest receivable 49,489 24,592 49,612 20,423 74,081 70,035 13-
FRIENDS OF LEWES vicfoRIA HOSPITAL NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Raising funds unstrICted U nre5tricted funds funds 2025 2024 Fundraisin and ublicit Other fundraising costs 5,394 1,519 Investment management costs 10,151 11,986 15,545 13,505 Charitable activities 2025 2024 Services and equipment funded at Lewes Victoria Hospital Insurance Printing, postage and stationery 88,476 725 801 147,897 690 705 90,002 149,292 Share of governance costs 2,208 2,040 92,210 151.332 Governance costs includes payments to the independent examiner of £2,20812024 £2,040) Trustees None of the trustees {or any persons connected with them) received any remuneration during the year. {2024- £nill. 14-
FRIENDS OF LEWES VICTORIA HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Employees The average monthly number of employees during the year was: 2025 2024 Number Number Total There were no employees whose annual remuneration was more than £60,000. Gains and losses on investments Unrestricted Endowment funds funds 2025 Total Unrestricted Endowment funds funds 2024 2024 Total 2025 2025 2024 Gains/llossesl arising on- Revaluation of investments Sale of investments 132,0001 16,3671 17,0841 11,5491 139,0841 17,9161 48,406 15,1941 10,264 1900 58,670 16,0941 138,3671 18,6331 147,0001 43,212 9,364 52,576 10 Taxation The charity is a registered charity and under section 505111 of the I ncome and Corporation Taxes Act 1988 is exempt from taxation. 15-
FRIENDS OF LEWES vicfoRIA HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Fixed asset investments Listed investments Cash in portfolio Total Cost or valuation At l April 2024 Additions Valuation changes Movement in cash balance Disposals 1,645,675 136,800 139,0831 15,870 1,661,545 136,81)0 139,0831 48,141 1203,6011 48,141 1203,6011 At 31 March 2025 1,539,791 64,011 1,603,802 Carrying amount At 31 March 2025 1,539,791 64,011 1,603,802 At 31 March 2024 1,645,675 15,870 1,661,545 12 Debtors 2025 2024 Amounts falling due within one year: Other debtors 5.049 3,368 13 Creditors: amounts falling due withln one year 2025 2024 Other creditors Accruals and deferred income 136,573 2,208 167,349 2,040 138,781 169,389 16
FRIENDS OF LEWES VICTORIA HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 14 Endowment funds Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fu nd. At l April 2024 Gains and At 31 March losses 2025 Permanent endowments 249,864 18,6331 241,231 Previous year: At l April 2023 Gains and At 31 March losses 2024 Permanent endowments Beatrice May Braban Endowment 240,500 9,364 249,864 The endowment fund is a legacy from Beatrice May Braban. Income from the investment will be used for general purposes, but the investment will be ring fenced and kept separate f rom other investments. 15 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At l April 2024 Incoming resources Resources expended Gains and At 31 March losses 2025 General funds 1,867,768 111,470 1107,7551 138,3671 1,833,116 Previous year". At l April 2023 Incoming resource5 Resources expended Gains and At 31 March losses 2024 General funds 1,901,172 88,221 1164,8371 43,212 1,867,768 17-
FRIENDS OF LEWES VICTORIA HOSPITAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 16 Analysis of net assets between funds Unrestricted Endowment funds funds 2025 2025 Total 2025 At 31 March 2025: Investments Current assets/lliabilitiesl 1,603,802 229,314 1,603,802 470,545 241,231 1,833,116 241,231 2,074,347 Unrestricted Endowment funds funds 2024 2024 Total 2024 At 31 March 2024: Investments Current assets/lliabilitiesl 1,661,545 206,223 1,661,545 456,087 249,864 1,867.768 249,864 2,117,632 17 Related party transactions There were no disclosable related party transactions during the year12024- none). 18-
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