**League of Friends Musgrove Park Hospital Report of the Trustees and Audited Consolidated Financial Statements For the Year Ended 31 January 2025** **Registered Charity Number 250797** Sumer Auditco Limited Independent auditors Suite B, Blackdown House Blackbrook Park Avenue Taunton Somerset TA1 2PX **League of Friends Musgrove Park Hospital** ## **Contents of the Financial Statements for the Year Ended 31 January 2025** ||**Page**| |---|---| |Reference and Administrative Information|1| |Report of the Trustees|2-5| |Independent Auditors Report|6-8| |Consolidated Statement of Financial Position|9| |Consolidated Statement of Financial Activities|10| |Consolidated Cash Flow Statement|11| |Notes to the Consolidated Financial Statements|12-17| ## **League of Friends Musgrove Park Hospital** ## **Reference and Administrative Information** |PRESIDENT:|Mr Clinton Rodgers DL| |---|---| |TRUSTEES:|Mr C Barrell| ||Mrs A Bartaby| ||Mr V Cinque| ||Mrs H Corcoran| ||Mrs S Ewan| ||Mr N Handbury| ||Mr C Hawkins| ||Mrs E Kingston| ||Mrs J Lucas| ||Mr A Nixson (resigned September 2024)| ||Mrs J Parsons| ||Mr P Renshaw (deceased September 2024)| ||Miss J Steer (deceased June 2024)| |SECRETARY:|Mrs A Bartaby| |ADDRESS OF|| |PRINCIPAL OFFICE:|League of Friends Shop| ||Musgrove Park Hospital| ||Taunton TA1 5DA| |REGISTERED CHARITY|| |NUMBER:|250797| |INDEPENDENT|| |AUDITOR:|Sumer Auditco Limited| ||Suite B| ||Blackdown House| ||Blackbrook Park Avenue| ||Taunton TA1 2PX| |BANKERS:|Lloyds Bank plc| ||31 Fore Street| ||Taunton| ||TA1 1HN| Page 1 ## **League of Friends Musgrove Park Hospital** ## **Report of the Trustees for the Year Ended 31 January 2025** The Trustees present their report with the financial statements for the year to 31 January 2025. The full name of the charity is League of Friends Musgrove Park Hospital. The charity whose registration number is 250797 is a voluntary body governed by a constitution and managed by trustees. The subsidiary undertaking is Hospital Friends (Taunton) Ltd, a company having a share capital, registered in England and Wales, number 02559526. Trustees are elected to serve on the executive committee for a period of three years. One third retires each year and may offer themselves for re-election. The committee has the power of co-option during the year. ## **Objects and Activities** - a) To mobilise, encourage, foster and maintain the interest of the public in the patients and to support the work of the hospital by means of voluntary service; - b) To raise funds and invite and receive contributions from any person or persons or organisations whatsoever by-way of subscription, donation or otherwise to supplement in such a manner as the League think fit, the resources of the hospital service in consultation with the Somerset NHS Foundation Trust; - c) To recruit voluntary workers for the League in the hospital; - d) To co-operate with all other bodies for the benefit of the hospital service; - e) To encourage intercommunication and co-operation with other Leagues of Friends of Hospitals or with other similar bodies; - f) To do all such other things as are incidental or conductive to the attainment of the above objects or any of them. The charity's activities deliver a public benefit as referred to in the guidance contained in the charity commission's general guidance of which note is taken when reviewing our aims and objectives and in planning our future activities. ## **Responsibilities of the Trustees** Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the year end and of its income and expenditure during that year. In preparing those financial statements, the Trustees are required to: - a) Select suitable accounting policies and then apply them consistently; - b) Observe the methods and principles in the Charities SORP; - c) Make judgements and accounting estimates that are reasonable and prudent; - d) State whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements; and - e) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate. The Trustees are responsible for keeping sufficient accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 2 **League of Friends Musgrove Park Hospital** ## **Report of the Trustees for the Year Ended 31 January 2025/cont** ## **Policies** **Risk policy:** The Trustees have given consideration to the major risks to which the Charity is exposed and have satisfied themselves that systems and procedures are established in order to manage risks. Risk management has been discussed at length at two trustees' meetings during the year. **Reserves Policy:** The Executive Committee reviewed the Policy in June 2025. The charity has some susceptibility to outside influences in the form of other charities competing for fundraising in the same area. However although the ability of the charity to make grants and contributions to the hospital needs to be safeguarded in the short term, the trustees do not allocate funds against bids from the hospital in advance of funds received, so do not consider that significant reserves are required. - a) If the hospital is unable to spend funds designated for a particular scheme within 18 months (or longer if there are particular reasons for a delay), the designation will be released and the funds made available for new bids the following year. - b) Reserves need to cover an amount equivalent to the annual administration costs and any contractually committed expenditure. Additionally the trustees wish to hold an emergency operating reserve equivalent to 3 months staffing costs of Hospital Friends (Taunton) Ltd. - **Investment Policy:** The Executive Committee approved the Policy in June 2025. a) The assets of the charity must be invested in accordance with the governing instrument and the Trustee Act 2000. - b) The charity has the power to invest in land and buildings and investment assets. - c) The overall investment objectives are to create sufficient income and capital growth to enable the charity to carry out its purposes consistently year by year with due and proper consideration for future needs and the maintenance of, and if possible, enhancement of the value of the invested funds while they are retained. - d) In line with the NHS ethos, the charity will not invest directly in companies manufacturing tobacco, armaments or alcohol. - e) Both capital and income may be used at any time for the furtherance of the charity’s aims and the portfolio should be managed on a total return basis. - f) The charity will keep a sufficient level of cash reserves in the form of bank deposits. **Grant Making Policy** : The funding to be allocated to hospital projects is reviewed annually and the Executive Committee invites "bids" from the different departments within the hospital for the provision of equipment and/or facilities as approved by the Trust management. These bids are considered by the Executive Committee in the light of reserves in hand and other non-financial criteria. Those which are successful are then designated as commitments for future funding. The Trustees do not allocate funds against bids in advance of the receipt of sufficient funds to meet them. The Trustees have also introduced a small grants scheme whereby individual wards can apply directly to the committee for items up to £5,000. ## **Trustee Induction** Before new trustees are voted on at an AGM, they will attend meetings in a non-voting capacity to enable them to understand the workings of the charity. New trustees will receive a copy of the accounts and an induction pack setting out the duties and responsibilities of trustees and incorporating a Code of Governance together with Charity Commission guidance. On appointment new trustees are required to sign a trustee declaration. Trustees are not entitled to receive any payment out of the charity's funds other than reasonable and necessary out-of-pocket expenses. Page 3 ## **League of Friends Musgrove Park Hospital** ## **Report of the Trustees for the Year Ended 31 January 2025/cont** ## **Financial Review** Details of incoming and outgoing resources are set out on page 10. The trading subsidiary was able to donate £105,692 to the charity for 2024/25 (2023/24: £37,736 ). The costs of building the shop were met by the charity. The shop is leased from the Trust over a term of 20 years, after which time the building will revert to the Trust. Accordingly the property has been depreciated at a rate that writes the building costs off over that period. ## **Where does our money come from?** Other than shop profits as above, the charity’s income was £772,000 for the year ended 31 January 2025 (2023/24: £148,000). Of this £632,500 (2023/24: £59,500) was from legacies. Interest on cash reserves was £59,000 (2023/24 £46,500). This volatility of income is taken into account in the League’s grant making policy. ## **What is our money spent on?** During the year £325,000 was spent on hospital projects and equipment (2023/24: £1,733,000). In the prior year £1.5m represented a surgical robot. As the main charity does not employ any staff or paid fundraisers, costs on administration and governance are low and totalled £7,800 (2023/24: £8,200) for the year. There were commitments left at the end of the year on schemes agreed for the hospital of approxmiately £9,000. Cash reserves were sufficient to cover these commitments carried forward into 2025/26. ## **Looking ahead** The trustees consider the charity to be a going concern and the future position to be satisfactory. In 2025 the shop has continued with performance of 24-25 and expect a similar dividend to be paid over to the charity. Committments to fund equipment and facilities are not made until funds become available. Page 4 ue of Frlends Mus rove Park Hos rt of the Trustees for the Year Ended 31 Janua 20251cont Chairnian's Ststement on behalf ofthe TTh￿tee$ l am very pleas&1 to be able to Teport another very successfil year. The League of Friends has continued to raise fuThJs through various income streams to support the work of the charty, notably by legacies which is our main source of funding as wem as by d¢)nations from various organisations and individuals who often make us their thanty of Ihe year. We also attend various local events where we are able to raise funds. notably the ra￿ day at the Taunton race course, Taunton flower show and the Musgrove Cup golf toumament held at Pickeridge and Taunton Golf Course. The League of Friends shop goes from strength to strength and is now busier then ever, particularly wtth the sale of sandwiches in addits'on to the ￿ successful coffeellea machine. Our congratulations go lo Tina Foster the shop manager and her staff and very SuppO￿ve volunteers. Bastsble Lodge (the Bungalow) Gonlinues to be used and wo have received many heart felt letters of thanks from individuals who have been able to stay in the Lodge while their relatives have been inpatients in the hosphal. many of these letters often contsin donafjons to th8 charty to enable us to continue to offer this vrtat service. The League of Friends has conttnued to support the hosptt4 through Ihe purd)ase of various pieces of equipmerrt fanging in value frc4n a few hundred pounds to. in some cases items costing in excess of one hundred thousand pounds. The srnall bid$ system is worklng particularly well and these ts'ds are dealt wrth on a monthty bws. The magazine produced by Smile has proved very popular wth l)oth visitors and staff. pro￿ding Information about the h08pftal and the League of Friends which has been in exislence in the hospital for well over sixty years, making us the longest serving chartty to the hospital. The h4gh point of the year Ihe royal vlsit by the Princess Royal in October 2024. Many of our volunteers were in attendance and it was wonderful to see Princess Ame speak to each and every one of them. she visited the shop and saw first hand the work our volunteers do". this was follow8d by a brisk walk lo the Academy whare the Princess met more staff responsible for the ne￿ purchased Surgical Robot that the Charlty pur¢hased in 2023 for over £1.5 mQlion Pr￿8. Musgrove Park Hospital is pi a process of change with new senior nur￿n9 managers havlng been recently appointed and a new Trusl Chair. The League of Friends will conlinue to support the hospital for the benefrt of patienis, staff and visitors in the coming year. This will be made possible by Ihe generosty of the general public through their donations and lega¢ie8. Nlgel Handbury Chaiman Page 5 ## **League of Friends Musgrove Park Hospital Independent Auditor's Report For the year ended 31 January 2025** ## **Report of the Independent Auditor's to the Trustees of The League of Friends Musgrove Park Hospital** ## **Opinion** We have audited the financial statements of the League of Friends Musgrove Park Hospital (the 'parent charity') and its subdiary (the 'group') for the year ended 31 January 2025 which comprise the Consolidated and Charity Statements of Financial Position, Consolidated Statement of Financial Activities, Consolidated Cash Flow Statement 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 Financial Reporting Standard 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: - give a true and fair view of the state of the group's and parent charity's affairs as at 31 January 2025, and of the group's incoming resources and application of resources for the year end ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 the group or parent charity’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. ## **Other Information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 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. Page 6 **League of Friends Musgrove Park Hospital Independent Auditor's Report/cont For the year ended 31 January 2025** ## **Report of the Independent Auditor's to the Trustees of The League of Friends Musgrove Park Hospital** In connection with our audit of the financial statements, 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 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 ## **Matters on which we are required to report by exception** We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) regulations 2008 require us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or - sufficient accounting records have not been kept; or - the parent charity's financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the 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 group's and parent charity’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 group or the parent charity or to cease operations, or have no realistic alternative but to do so. ## **Auditor responsibilities for the audit of the financial statements** We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 a Report of the Independent Auditors 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. Page 7 endent Aud￿￿8 Re ortlcont earended 31 Janua 202 Capablllty of the •utht In detoding IFfggularlllg¥. IncludlThJ f¥aud Besed on our uThle￿tsndW￿ ollhe thanty and 15 SLtthliary ihatthe printsl rtsks olnon- cONn￿anCe bmth law5 and regvlatN)ns rdaied io health a￿1 safety. fo(*l saleiy. es)yknymtrni Law. ctmya￿8 Act 20C6 8ThJ Charily Law. and the extent to vthich rmghl have a matenal effed¢)n the finanoal ststemwitsoe the grows aftd parentth81ty. We atso cAMs￿er**thQse t8V48 and regulations that have a dwed ryact on the wep3rnlKm ollhe firwool s¢8lerT*nls suth as the Ch8ritss Stslement of Recrnnded Prthe. Weevaluated man8g¢merf5 in￿nINe5 and oFpc(tunitie5 for fraudulenl maThpulation offv financa?I Statements (Indud￿l9 the rigk ofoYerTide olrontroksl *MI determined that th? prirKp81 *PT¢ reIBl￿ to perfomied by Ihe audtl 8rthJagernenl leam Ind￿Jed. . d1xu￿ons ￿4th m8n#gtment. Int￿dIng 01kr￿ or8uyd•J ofnofvctsn￿I qth law5 and ￿g￿laI￿n5 and fra￿1,. . tjndetstanthng and olman4enwnl* ultem￿ ¢￿traI￿ de￿￿j to wevent and detecl irreg&7ts"88, d IraLk1-. rewew ofttr* minutes ol Ihe Twsteeg meew. de1vJn￿ audit procedures to inco￿*[￿te unwethc*abW. rfomiing analytical procedures to *Jenltfy any musual that ryht have in¢*cate risk8 of material mBslalenRnl due to fra￿1,. remew ol the fm8ncrdl 8talemenlgd'*knures leslw4 to suworiry d(QXI￿allOn to cInp￿anC* vath f•levartt ard ￿gUlat￿3 lis￿$8ed *)obt'. ' wNuirirtg of the T￿￿tee50nd IhKthparty abo￿ potenw and dthi¥'. ' id&rtfying testing ￿L￿al entmg. ¥1 enlrE¥ th fryud thJraclenslic•. ' r•v￿g a¢counting ¢¥tinaleifDT m*lag&n￿l t¥as th￿ and the fufJ)erremoved non. ¢￿￿418n¢e %%7th ¥nd regul8kn ss from the e¥eA￿ trans•tknns rnfied•d li th• financ4•1 ¥1oternents. tt* kts6 lik•ly wouhy b8cLNne aware ofiL Akn. t￿ rtyk Ol￿t a malen'al misst8tem•ntdue to fraud * h￿tter thanthe nsk of no¢ deteixry one ro8u#Jng Irrm error, as fra￿ may invL4¥e deli￿rat• tsJnc•aknent by. IN ex* I￿9￿Y crf Inten1￿al nwsrewnlatw￿l cv through collusion. A further destiptbn tsf¢)ur re9pxAknfrYthe ofll* hanci* ￿Xated on the Fila￿jaI ReportSng Counufs website Ot Thlsdewtyon port of our Inde¥xndent Repo 011￿ matto The ¢xmpar*'ve fvjum ¥• utw(W. U•• of owY•port This report is made 801ely to the thority'$ trus*, 88 a t￿. in èceordanc* with Part 4 01 th8 Charibe IAcetyJnts and R&pottsl Regul811￿ 2C(48. has been undertaken 80 Ihat ffight st8t• to the ch8ri1l8 truste88 those mattern requ¥ed to 91ate b) them in an aulitm. repcil and for no oth&r purpc68. To the fij￿$1 eMt•nl by kw. we do accept or asswne re8pMsA)Ilty to Bnyore other than the chaity and the ¢tharityg trwleej 99 a bL*Jy, ICY ¢)ur authi *ryk. ts Illlj repyt, or tr the owKJn8 SI￿*r Ayditco Llnied, stal￿ryA1￿)rtry Suite B, Blad(dO￿ Housè Blackdown PaTk Ayenut Taunlon TA12PX s.- QQ LIts•a￿ 2cLr Sumer Audrtco 1$ el+Jible lor autht*)r¥ of the tharrty uyoup by of rt¥ for #Fpoiithentas a￿jItor ofa txnwany ￿￿￿er se(kn 121 Ctywnies A(#2￿. Frf Park andc 2024 2025 FIXED ASSErs Tangi}￿e fix4d 88sets 250.374 288,276 249,471 267.147 CURRENT ASSETS stock Debtofs and Prepayments Bank Balances 32,198 6.218 2,108.776 5.767 2.152.959 19.666 111.910 1.983,888 28.105 1.618,147 1.870.795 3.370 1.701,295 2,095,798 1,844,252 DEDUCT.CURRENT LIABILrriE3 Creditors du8 wlhin one year NET CURRENT ASSErs TOTAL NET ASSETS 131,524 2,114.267 1.589 771 fA1 1838 047 101500 1,542,752 1809 899 2,087,248 2 336.719 INCOME FUN08 Reslricled Funds Unrestricled Fundtr Desigiated Unre8tTiCted Fund> Unde¥gnated 70,283 8,9S2 2,285,4C6 2,364,641 52,992 275.538 1.509,517 1838 047 70,283 8,952 2,257,484 2 336 719 52,992 275,538 1481,369 rf.809.899 Approved by Ihg Truste￿ glgned on ty". ,,/.12ez< Mrs Page 9 ## **League of Friends Musgrove Park Hospital** **Consolidated Statement of Financial Activities for the Year Ended 31 January 2025** |
**Note**
**INCOMING RESOURCES**
Donations and Gifts
Legacies and Estate Income Received
Interest Received
Fundraising Activities
Other income
Gross Income of Trading Subsidiary
11
**TOTAL INCOMING RESOURCES**
**Expenditure on:**
Raising funds
Costs of Trading Subsidiary:
Cost of Sales
11
Administration Expenses
11
Depreciation
Charitable Activities
Direct Charitable Expenditure
7
Management & Admin
13
Shop refurbishment
Depreciation
On projects
**TOTAL RESOURCES EXPENDED**
**NET INCOMING/(OUTGOING) RESOURCES**
Fund Balances brought forward
at 1st February
**FUND BALANCES carried forward**
**at 31st January**|**2025**
**Unrestricted**
**funds**
**£**
52,573
599,024
59,441
6,188
18,250
723,708
**1,459,184**
481,523
136,493
226
7,818
-
17,675
306,146
**949,881**
509,303
1,785,055
**2,294,358**||**2025**
**Restricted**
**funds**
**£**
2,821
33,524
-
-
-
-
**36,345**
-
-
-
-
17
-
19,037
**19,054**
17,291
52,992
**70,283**|**2025**
**Total Funds**
**£**
55,394
632,548
59,441
6,188
18,250
723,708
**1,495,529**
481,523
136,493
226
7,818
17
17,675
325,183
**968,935**
526,594
1,838,047
**2,364,641**|**2024**
**Total Funds**
**£**
35,084
59,479
46,568
6,565
750
478,880
**627,326**
349,114
88,906
3,464
8,004
171
17,383
1,734,032
**2,201,074**
(1,573,748)
3,411,795
**1,838,047**|**2024**
**Unrestricted**
**funds**
**£**
33,711
59,479
46,568
6,565
750
478,880
**625,953**
349,114
88,906
3,464
7,754
-
17,383
1,733,782
**2,200,403**
(1,574,450)
3,359,505
**1,785,055**||**2024**
**Restricted**
**funds**
**£**
1,373
-
-
-
-
-
**1,373**
-
-
-
250
171
-
250
**671**
702
52,290
**52,992**| |---|---|---|---|---|---|---|---|---| Page 10 |**League of Friends Musgrove Park Hospital**
**Consolidated Cash Flow Statement at 31 January 2025**
**Cash flows from operating activities**
Net movement in funds
**Cash flow from investing activities**
Interest income
Purchase of tangible fixed assets
Net cash from investing activities
Increase in cash and equivalents
Total funds at beginning of year
**Total funds at end of year**
**Reconciliation of cash flows from operating activities**
**Net incoming/(outgoing) resources for the reporting period**
**Adjustments for:**
Depreciation charges
Interest from investments
(Increase)/Decrease in stock
(Increase)/Decrease in trade and other debtors
Increase/(Decrease) in trade and other creditors
**Net cash provided by operating activities**
**Analysis of changes in net funds**
Cash and in hand and in bank
Cash and in hand and in bank||**2025**
**£**
380,937
59,441
-
59,441
440,378
1,674,165
**2,114,543**
**2025**
**£**
526,594
17,901
(59,441)
(12,532)
1,246
(92,831)
**380,937**
**31/01/2025**
**£**
2,114,543
**31/01/2024**
**£**
1,674,165||**2024**
**£**
(1,520,760)
46,568
(19,095)
27,473
(1,493,287)
3,167,452
**1,674,165**
**2024**
**£**
(1,573,748)
17,665
(46,568)
(2,420)
(2,365)
86,676
**(1,520,760)**
**01/02/2024**
**£**
1,674,165
**01/02/2023**
**£**
3,167,452| |---|---|---|---|---| Page 11 **League of Friends Musgrove Park Hospital** ## **Notes to the Consolidated Financial Statements for the Year Ended 31 January 2025** ## **1. ACCOUNTING POLICIES** ## **General information and basis of preparation** The charity is an unincorporated charitable trust. The financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities, preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102)", and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared to give a true and fair view. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound. There are no significant areas of judgement or key sources of estimation uncertainty. ## **Going Concern** After reviewing the charity and the groups cash balances and requirements the trustees have a reasonable expectation that the charity and the group have adequate resources to continue in operational existence for the foreseeable future encompassing at least 12 months from the date of signing the financial statements. Therefore the financial statements have been prepared on the going concern basis. ## **Income** All incoming resources are recognised once the group and charity has entitlement to the resource and it is probable that the resource will be received and the monetary value of the resource can be measured with sufficient reliability. ## **Expenditure** Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the group and charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under the following headings: ## **Raising Funds** Costs of generating funds comprises all costs associated with raising funds through different projects. ## **Charitable Activities** Charitable activities comprise all costs directly incurred in undertaking activities to fulfil the charities objectives. ## **Consolidation** The unaudited accounts of Hospital Friends (Taunton) Limited are consolidated with those of the charity as at 31 January, this being the normal accounting date of both entities. ## **Depreciation** Depreciation is calculated to write off the cost fixed assets over their estimated useful lives at the following rates: Shop Fittings 5% Office Equipment 15-25% Other Furniture and Fittings 20-25% ## **Stock** Stock is values at the lower of cost and net realisable value. ## **Fund Accounting** Restricted funds represent funds received by the charity for particular purposes as directed by the donors. In addition funds allocated by the Executive Committee for particular projects but not expended are classified as Designated Funds. No provision is made for future expenditure on restricted or designated funds. Page 12 **League of Friends Musgrove Park Hospital** ## **Notes to the Consolidated Financial Statements for the Year Ended 31 January 2025** ## **2. TANGIBLE FIXED ASSETS** |**Group**
**COST/BOOK VALUE**
At 31st January 2024
Additions
Disposals
At 31st January 2025
**DEPRECIATION**
At 31st January 2024
For the Year
Elimination on disposal
At 31st January 2025
**NET BOOK VALUE**
At 31st January 2025
At 31st January 2024
**Charity**
**COST/BOOK VALUE**
At 31st January 2024
Additions
Disposals
At 31st January 2025
**DEPRECIATION**
At 31st January 2024
For the Year
Elimination on disposal
At 31st January 2025
**NET BOOK VALUE**
At 31st January 2025
At 31st January 2024||**Freehold**
**Land and**
**Buildings**
**£**
70,000
-
-
**70,000**
-
-
-
**-**
**70,000**
**70,000**
**Freehold**
**Land and**
**Buildings**
**£**
70,000
-
-
**70,000**
-
-
-
**-**
**70,000**
**70,000**|**£**
276,540
-
-
**276,540**
95,791
13,827
-
**109,618**
**166,922**
**180,749**
**£**
276,540
-
-
**276,540**
95,791
13,827
-
**109,618**
**166,922**
**180,749**
**Leasehold**
**improvements**
**Leasehold**
**improvements**|**Equipment**
**£**
25,977
-
-
**25,977**
24,740
230
-
**24,970**
**1,007**
**1,237**
**Equipment**
**£**
2,205
-
-
**2,205**
2,097
5
-
**2,102**
**103**
**108**|**Furniture**
**& Fittings**
**Total**
**£**
**£**
26,142
398,659
-
-
-
-
**26,142**
**398,659**
9,852
130,383
3,845
17,902
-
-
**13,697**
**148,285**
**12,445**
**250,374**
**16,290**
**268,276**
**Furniture**
**& Fittings**
**Total**
**£**
**£**
26,142
374,887
-
-
-
-
**26,142**
**374,887**
9,852
107,740
3,844
17,676
-
-
**13,696**
**125,416**
**12,446**
**249,471**
**16,290**
**267,147**| |---|---|---|---|---|---| Fixed assets are stated at historic cost with the exception of the land (see note 3). ## **3. FREEHOLD LAND AND BUILDINGS** A 50% share in Freehold Land was bequeathed to the League some years ago and a sale to a developer was completed with payment received in instalments up to August 2014. The remaining land has been professionally valued at £70,000 on the basis of existing agricultural use. The charity received an option in the year of £17,500 held in other income. |**The Group**
**The Charity**
**£**
**£**
**4. STOCK**
Finished goods for resale
32,198
-
**5. DEBTORS DUE WITHIN ONE YEAR**
Other Debtors
6,218
111,910
**6,218**
**111,910**
**6. CREDITORS DUE WITHIN ONE YEAR**
Trade Creditors
20,309
5,560
VAT and other taxes
12,966
-
Other Creditors
-
-
Accruals
5,417
2,990
**38,692**
**8,550**
**2025**|**The Group**
**The Charity**
**£**
**£**
19,666
-
7,464
26,105
**7,464**
**26,105**
109,865
99,500
17,451
-
23
-
4,185
2,000
**131,524**
**101,500**
**2024**| |---|---| Page 13 **League of Friends Musgrove Park Hospital** ## **Notes to the Consolidated Financial Statements for the Year Ended 31 January 2025** ## **7. EXPENDITURE ON CHARITABLE ACTIVITIES** |Direct charitable activities
Support costs :
Bungalow and Shop refurbishment
Marketing and Fundraising Consultants
Audit and Accountancy
Depreciation
Other
Direct charitable activities
Support costs :
Bungalow and Shop refurbishment
Marketing and Fundraising Consultants
Audit and Accountancy
Depreciation
Other||**Undesignated**
**£**
24,818
-
1,621
1,999
17,675
4,198
**50,311**
**Undesignated**
**£**
-
-
814
4,605
17,383
2,335
**25,137**|**Designated**
**£**
281,328
-
-
-
-
-
**281,328**
**Designated**
**£**
1,733,782
-
-
-
-
-
**1,733,782**|**Restricted**
**£**
19,037
17
-
-
-
-
**19,054**
**Restricted**
**£**
250
171
-
-
-
250
**671**|**Total 2025**
**£**
325,183
17
1,621
1,999
17,675
4,198
**350,693**
**Total 2024**
**£**
1,734,032
171
814
4,605
17,383
2,585
**1,759,590**| |---|---|---|---|---|---| ## **8. RESTRICTED FUNDS** |Hestercombe garden
Bungalow Donation
Dunkery (stroke) Ward
Acutre Medical Unit
Cardiology
Coronary Care
Beacon Centre
Ward 9 Haematology
ICU (Minehead 41 Club)
ICU in memory Dean Thompson
Ultrasound Vein Scanner (Dumpleton)
Eliot Ward memory Connor
Eye Clinic
Cardiology
Hestercombe garden
Bungalow Donation
Dunkery (stroke) Ward
Acutre Medical Unit
Cardiology
Coronary Care
Beacon Centre
Ward 9 Haematology
ICU (Minehead 41 Club)
ICU in memory Dean Thompson
Ultrasound Vein Scanner (Dumpleton)
Urology
Orthopaedic
Eliot Ward memory Connor||**Balance at**
**1st February**
**2024**
**£**
605
3,538
201
307
20,213
250
1,210
151
50
94
25,000
1,373
-
-
**52,992**
**Balance at**
**1st February**
**2023**
**£**
605
3,709
201
307
20,213
250
1,210
151
50
94
25,000
250
250
-
**52,290**|**Incoming**
**Resources**
**Utilised**
**Released**
**£**
**£**
**£**
-
-
-
100
(17)
-
-
-
-
-
-
-
-
(19,037)
-
-
-
-
2,272
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
33,524
-
-
450
-
-
**36,345**
**(19,054)**
**-**
**Incoming**
**Resources**
**Utilised**
**Released**
**£**
**£**
**£**
-
-
-
-
(171)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(250)
-
-
-
(250)
1,373
-
-
**1,373**
**(421)**
**(250)**
**Movement in Funds**
**Movement in Funds**|**Balance at**
**31st January**
**2025**
**£**
605
3,621
201
307
1,176
250
3,482
151
50
94
25,000
1,373
33,524
450
**70,283**
**Balance at**
**31st January**
**2024**
**£**
605
3,538
201
307
20,213
250
1,210
151
50
94
25,000
-
-
1,373
**52,992**| |---|---|---|---|---| Page 14 **League of Friends Musgrove Park Hospital** ## **Notes to the Consolidated Financial Statements for the Year Ended 31 January 2025** ## **9. DESIGNATED FUNDS** |**Balance at**
**1st February**
**New**
**2024**
**Designations**
**£**
**£**
Orthodontic 3D printer
23,968
-
Urology - Narrow Band Imaging
227,900
886
Spinal table for Day Surgery
11,985
-
Cardiology
-
-
Chairs Dene Barton
875
-
Chairs Montacute Ward
5,410
-
CPM Physiotherapy
2,999
-
tens MACHINES X 4 Willow Ward
290
-
Artwork Willow Ward
1,440
608
ENT OPD Window art etc
671
-
Sara Stedy turner - discharge lounge
-
1,151
Bladder scanner - Gynaecology + Gynae Oncolog
-
5,405
Cardiology - Mobile sensory equipment for paedia
-
2,750
Eliot Ward bedside tables
-
7,893
Grab bags for LD in ED
-
887
Total Commitments
**275,538**
**19,580**
**Balance at**
**1st February**
**New**
**2023**
**Designations**
**£**
**£**
Exmoor Ward TV
200
-
MP3 players - re dementia patients (F2 doctors)
80
-
Paediatric diabetes dieticians' equipment (books)
320
-
Acute Pain IT System
14,500
-
Orthodontic 3D printer - to be confirmed
23,968
-
Opthalmic Microscope recording module
20,000
-
Light projectors - dementia
175
-
Dementia activities pack
294
-
Urology - Narrow Band Imaging
227,900
-
Ophthalmology - Phase 2 Development for Macu
183,000
-
Spinal table for Day Surgery
25,984
-
Rezum for Urology
29,750
6,000
Chairs Dene Barton
875
-
Chairs Montacute Ward
5,410
-
CPM Physiotherapy
2,999
-
Robot assisted surgery
1,500,000
-
tens MACHINES X 4 Willow Ward
290
-
Artwork Willow Ward
1,440
-
ENT OPD Window art etc
-
671
Total Commitments
**2,037,185**
**6,671**|**Utilised**
**£**
(24,465)
(228,786)
(11,985)
(12,365)
-
(7,488)
-
-
(2,048)
-
(1,151)
(5,405)
-
-
-
**(293,693)**
**Utilised**
**£**
-
-
-
(14,500)
-
-
(179)
(353)
-
(183,000)
-
(35,750)
-
-
-
(1,500,000)
-
-
-
**(1,733,782)**|**Released**
**£**
497
-
-
12,365
(875)
2,078
(2,999)
(290)
-
-
-
-
(1,876)
(1,373)
-
**7,527**
**Released**
**£**
(200)
(80)
(320)
-
-
(20,000)
4
59
-
-
(13,999)
-
-
-
-
-
-
-
-
**(34,536)**|**Balance at**
**31st January**
**2025**
**£**
-
-
-
-
-
-
-
-
-
671
-
-
874
6,520
887
**8,952**
**Balance at**
**31st January**
**2024**
**£**
-
-
-
-
23,968
-
-
-
227,900
-
11,985
-
875
5,410
2,999
-
290
1,440
671
**275,538**| |---|---|---|---| ## **10. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS** |Fund Balances at 31st January are
represented by:-
Tangible Fixed Assets
Current Assets
Current Liabilities||**Unrestricted**
**Funds**
**2025**
**£**
250,374
2,082,676
(38,692)
**2,294,358**|**Restricted**
**Funds**
**2025**
**£**
-
70,283
-
**70,283**|**Total**
**2025**
**£**
250,374
2,152,959
(38,692)
**2,364,641**|**Unrestricted**
**Funds**
**2024**
**£**
268,276
1,648,303
(131,524)
**1,785,055**|**Restricted**
**Funds**
**2024**
**£**
-
52,992
-
**52,992**|**Total**
**2024**
**£**
268,276
1,701,295
(131,524)
**1,838,047**| |---|---|---|---|---|---|---|---| Page 15 **League of Friends Musgrove Park Hospital** ## **Notes to the Consolidated Financial Statements for the Year Ended 31 January 2025** ## **11. NET INCOME FROM TRADING ACTIVITIES OF SUBSIDIARY UNDERTAKING.** The Charity has one trading subsidiary undertaking which is incorporated in the United Kingdom, Hospital Friends (Taunton) Limited which operates the hospital shop. It transmits the majority of its profits to the charity annually using the Gift Aid scheme. Its accounts are prepared in accordance with the special provisions of the Companies Acts relating to small companies. A summary of its trading result for the year ended 31st January is shown below. |Turnover
Cost of Sales
Gross Profit
Interest received
Administration Expenses
-Staff Costs (see note 12)
-Accountancy
-Other
Depreciation of Fixed Assets
**Net Profit**
Gross payment to the Charity as Gift Aid
**(Withdrawn from) / Retained in the subsidiary undertaking**
**12. STAFF COSTS**
-The Group
Wages and Salaries
Social Security
The average weekly number of employees was
No employees received emoluments in excess of £60,000 (2024: None)
**13. MANAGEMENT AND ADMINISTRATION EXPENSES**
Marketing and Fundraising Consultants
Audit and Accountancy (Including Independent Examination and Audit)
Other||**2025**
**£**
723,706
481,523
**242,183**
**2**
100,552
3,241
32,700
**136,493**
226
105,466
(105,692)
**(226)**
99,754
798
**100,552**
**6**
1,621
1,999
4,198
**7,818**|**2024**
**£**
478,880
349,114
**129,766**
**-**
73,332
4,229
14,527
**92,088**
282
37,396
(37,736)
**(340)**
73,332
-
**73,332**
**5**
814
4,605
2,585
**8,004**| |---|---|---|---| The Trustees have not received any remuneration or expenses during the year (2024: nil). Page 16 **League of Friends Musgrove Park Hospital** ## **Notes to the Consolidated Financial Statements for the Year Ended 31 January 2025** ## **14. CHARITY COMMITMENTS** In addition to the project expenditure stated above there are funding commitments to Somerset NHS Foundation Trust which are not contracted and for which no provision is made in these Accounts for the following estimated sums: Restricted Funds : £70,283 (2024: £52,992) Unrestricted Designated Funds : £8,952 (2024 £275,538) ## **15. RELATED PARTY TRANSACTIONS** There were no related party transactions in the year nor in the previous year. Page 17