## **FRIENDS OF ST MARY’S HOSPITAL, W2 REPORT OF THE EXECUTIVE COMMITTEE** ## **AND AUDITED ACCOUNTS** **FOR THE YEAR ENDED 31 DECEMBER 2021** **CHARITY NO: 252665** **GLAZERS CHARTERED ACCOUNTANTS 843 FINCHLEY ROAD LONDON NW11 8NA** **FRIENDS OF ST MARY’S HOSPITAL, W2** ## **CHARITY INFORMATION** ## Executive Committee The Lady J Fellowes - Patron Dr R Rivers - President Ofcers Chairman – Post vacant Miss J Winslow - Deputy Chairman Members Mrs D Akan Mrs M Aslan Mrs N Barnett Mrs M Carville Miss S Lennon Ms M R Harper Mrs L Pickley Mrs J Prendergast Fr P Thomas Mrs M Linford Administration Mrs R Bahar – Secretary Mr W Umpleby – Treasurer Mrs M Aslan – Membership Secretary Charity Number 252665 Charity Ofces Friends of St Mary’s Hospital Praed Street London W2 1NY Auditors Glazers 843 Finchley Road London NW11 8NA Bankers National Westminster Bank plc 69 Baker Street London W1U 6AT -1- **FRIENDS OF ST MARY’S HOSPITAL, W2** ## **CONTENTS** |
Report of the Executive Committee

Auditors’ Report
Statement of Financial Activities

Balance Sheet

Notes to the Accounts|**PAGE**
3-7
8-10
11
12
13-16| |---|---| -2- **FRIENDS OF ST MARY’S HOSPITAL, W2** ## **ANNUAL REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2021** The Executive Committee presents its report for the year ended 31 December 2021 under the Charities Act 2011 together with audited accounts for the year and confirm that the latter comply with the requirements of the Act, the Constitution and the Charities SORP applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **REFERENCE AND ADMINISTRATIVE INFORMATION** The Charity was founded in 1906 and is registered with the Charity Commission under charity number 252665. The Executive Committee and principal address of the Charity are as listed on Page 1 together with particulars of the Charity’s professional advisors. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Charity is a single organisation. The funds raised through donations, membership subscriptions and fundraising activities are used to further the Objects, Aims, Objectives and Activities of the Friends of St Mary’s Hospital, W2 (Friends). The Charity is governed by its constitution dating from 1906 and last amended in June 1999. The Governing Body is the Executive Committee, and members are elected annually at the Annual General Meeting. The members of the Executive Committee, as the charity trustees of the Charity, are legally responsible for the overall management and control of the Friends and meet eleven times a year. The trustees who served during the year were: The Lady J Fellowes – Patron, Dr R Rivers – President, Miss J Winslow – Deputy Chairman, Mrs D Akan, Mrs M Aslan, Mrs N Barnett, Mrs M Carville, Ms M R Harper, Miss S Lennon, Mrs L Pickley, Mrs J Prendergast, Fr P Thomas and Mrs M Linford. All trustees give their time freely and no trustee remuneration was paid during the year. There were no expenses claimed by trustees during the year. The day-to-day running of the Friends is delegated to the Chairman, assisted by a part-time secretary, and part-time treasurer. The Executive Committee is responsible for the management of the risks faced by the Friends. Detailed consideration of risk is delegated to the Chairman and the Managers of the Services. Risks are identified, assessed and controls established, and matters requiring formal action are reported to the Executive Committee. In addition the Friends comply with risk assessment procedures in force in The Imperial College Healthcare NHS Trust. As the post of Chairman has been vacant for some time, the Chairman’s responsibilities as noted above have been shared amongst the Executive Committee and Officers. It is hoped to appoint a new Chairman at the AGM this year. The Friends is constituted as an unincorporated association. Its objects are to undertake: - (a) Any charitable work, which from time to time is shown to be needed for the benefit of patients and staff. - (b) To raise funds and to receive contributions from any persons or organisations by way of subscription, covenant, donation or otherwise. - (c) To provide facilities or equipment which may be required for the treatment of patients or for the efficient running of the Hospital and which may not be readily available through the National Health Service. - (d) To provide amenities in the Hospital for patients and staff. -3- ## **FRIENDS OF ST MARY’S HOSPITAL, W2** ## **ANNUAL REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2021** ## **OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES (continued)** The Friends meets these objectives by receiving donations and bequests and by fundraising through an Annual Christmas Bazaar, Raffle, Flag Days, Book Sales and collecting boxes throughout the Hospital and in local shops. Departments and Wards in the Hospital are invited to submit bids for grants, which are considered by the Executive Committee at their regular meetings. Each year Departments are also invited to submit bids for the Special Project. The former Friends Shop premises were taken over by the Trust and our staff transferred under the TUPE (Transfer of Undertakings, Protection of Employment) Regulations in December 2020, and the Café was similarly taken over in July 2021 and staff TUPEd, just leaving the part-time Secretary and Treasurer on the Friends payroll. The Western Eye kiosk has remained closed. The members of the Executive Committee have referred to the Charity Commission’s guidance on public benefit when reviewing the Charity’s aim and objectives and planning future activities. The Friends of St Mary’s Hospital does not use professional fundraisers for any of its fundraising activities, nor has it or its voluntary fundraisers been subject to any undertaking to be bound by any scheme, except when Flag Days are held on Rail Stations, when their code of conduct is followed. Fund raising events (book and cake and toy sales, flag days, Christmas Card Sales, and the Christmas Bazaar had to be cancelled again during 2021 due to the coronavirus pandemic. No complaints were received by the Friends or by our volunteers concerning our fundraising activities. ## **REVIEW OF ACHIEVEMENT AND PERFORMANCE FOR THE YEAR** 2021 was a difficult year for the Friends with no sales outlets at the Hospital, following the closure of our Shop, Out-Patient Café and Western Eye kiosk due to the coronavirus pandemic. We continued to receive membership subscriptions and donations and held our annual raffle and sold Christmas Cards and some memorabilia items. ## **FINANCIAL REVIEW AND RESULTS FOR THE YEAR** Gross income from sale of old stock from the services during the year amounted to £1,173 (2020: £70,513). Other indirect costs amounted to £1,125 (2020: £34,281 including £30,930 salaries and pension), with direct costs (purchases of goods to sell) £1,099 (2020: £51,900). These reductions compared to 2020 being due to the enforced closure since March 2020. Although the furlough scheme only reimbursed 80% of salaries, The Executive Committee agreed to continue to pay furloughed staff their full salary so that they were not financially disadvantaged. The net cost of £23,671 (2020: £79,343) was charged to the General Fund. Support and administration costs including the net cost of furloughed staff amounted to £49,748 (2020: £108,329), salary & pension costs amounted to £16,639 (2020: £16,639). -4- ## **FRIENDS OF ST MARY’S HOSPITAL, W2** ## **ANNUAL REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2021** ## **FINANCIAL REVIEW AND RESULTS FOR THE YEAR (continued)** Income from Subscriptions totalled £790 (2020: £975), from 2007, on the advice of the VAT office, where Friends have paid more than the suggested minimum rate of £10, the excess has been recorded as a donation – in 2021 these amounted to £2,012 (2020: £2,263). Collection boxes around the Hospital and in local shops and pubs raised a total of £723 (2020: £1,326), reflecting reduced use of cash and closure of our Shop and Café and Western Eye kiosk, The Bazaar had to be cancelled again, but the raffle raised £6,933 (2020: £4,186), Book and cake sales £55 (2020: £100). Flag days were also cancelled. Christmas card sales raised £1,547 (2020: £1,342). We are grateful to Knight Frank who sponsored the printing of our Annual Report. During the year £1,834 (2020: £2,592) has been received through Just Giving from individual donors and sponsored events by grateful patients of the hospital and their friends and families. We are very grateful for all donations, including the following: £1,200 Knight Frank (Annual Report Printing) £1,000 GMS Estates (Raffle Prizes) £200 SEBRA (Raffle Prizes) £1,500 Fitton Trust The Executive Committee approved the following grants during 2021: £660 Gresham Collective training £552 Chairs for Alec Bourne Ward £3,268 Equipment for the Labour Ward £9,990 Therapy Equipment for the Dementia Team The following recurring gifts and grants approved in 2020 were held over to 2021, however due to continued covid-19 restrictions most were not able to be used, and have been carried over to 2022: £1,300 Aquaria Rentals/Maintenance £2,960 Chapel Music £1,500 Chapel Flowers £1,000 Christmas Gifts for Patients £1,000 Christmas Ward Festivities and Decorations £500 Emergency Packs for Patients £250 Porters and Security Staff, etc. Gratuities £2,800 Music in Hospitals (24 Concerts) £600 Remembrance Service for Babies (Printing/Refreshments) £100 Wool for Home Knitters The balance in the General (unrestricted) Funds at 1 January 2021 was £70,701. During the year, total income for General (unrestricted) Funds amounted to £105,442 compared to total expenditure of £65,495 leaving a carry forward balance of £110,648. The total carried forward in Restricted Funds was £10,335. Funds not required for immediate use are held in a Post Office National Savings Investment Account. Other funds are held in Current Accounts linked to Business Reserve Accounts at the National Westminster Bank. ## **RESERVES POLICY** During 2021 the balance in the unrestricted funds increased to £110,648, the two months figure for unrestricted charitable expenditure has reduced considerably. The trustees aim to maintain free reserves in unrestricted funds which equate to approximately two months of unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds to respond to applications for grants and ensure that support and governance costs are covered. -5- ## **FRIENDS OF ST MARY’S HOSPITAL, W2** ## **ANNUAL REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2021** ## **FUTURE PLANS AND PRINCIPLE RISKS** The NHS Trust continue to run our former Shop and the Café has been closed and replaced by vending machines. The space previously occupied by the Western Eye kiosk and Paterson Wing Trolley continue to be used for clinical care and improved access for disabled patients and covid safe space requirements. It is clear that we will be unable to restart these retail outlets, but we are hoping to be granted space in which to sell mainly non-food items, including a click and collect service for memorabilia, etc. so that we can re-establish a presence in the Hospitals and increase our fundraising potential. We have been permitted to hold fortnightly book and toy sales outside the QEQM Wing and trust that this will continue and that we may be able to hold a, possibly limited, Christmas Bazaar in 2022. The Imperial College Healthcare NHS Trust continues to review its service provision and use of buildings across the St. Mary’s, Western Eye, Hammersmith, Charing Cross and Queen Charlotte’s sites, but the Friends of the constituent Hospitals have all agreed that they should remain separate bodies while maintaining close links. The NHS has indicated that significant funding will be made available to bring St Mary’s Hospital up to modern standards and this will involve major rebuilding over the next few years. The recruitment of volunteers is dealt with through the Imperial Health Charity and we are hopeful that when we are able to open a non food outlet we will be able to recruit volunteers through them again. We have suspended consideration of grant applications for support from our unrestricted funds, as our main sources of income have reduced. ## **STATEMENT OF EXECUTIVE COMMITTEE RESPONSIBILITIES** The Executive Committee are required under the constitution of the charity to prepare financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Executive Committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements the Executive Committee are required to:- - (a) select suitable accounting policies and apply them consistently; - (b) observe the methods and principles in the Charities SORP 2019 (FRS 102); - (c) make judgements and 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; - (e) prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Executive Committee are responsible for keeping proper accounting records that 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **FRIENDS OF ST MARY’S HOSPITAL, W2** ## **ANNUAL REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2021** ## **STATEMENT OF DISCLOSURE TO AUDITORS** So far as the Trustees are aware, there is no relevant audit information of which the Charity's auditors are unaware. Additionally, Trustees have taken all the necessary steps that they ought to have taken as Trustees in order to make themselves aware of all relevant audit information and to establish that the charity’s auditors are aware of that information. ## **APPROVAL** This report was approved by the Executive Committee on the date shown below and signed on their behalf by:- ................................. ....................................... Miss J Winslow - Deputy Chairman Mr C W Umpleby – Treasurer Date…………………….. Date…………………….. -7- ## **INDEPENDENT AUDITORS’ REPORT TO THE EXECUTIVE COMMITTEE OF THE FRIENDS OF ST MARY’S HOSPITAL W2** ## **Opinion** We have audited the financial statements of The Friends of St. Mary’s Hospital W2 (the ‘charity’) for the year ended 31 December 2021 set out on pages 11 to 16. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. In our opinion the financial statements: -give a true and fair view of the state of the charity’s affairs as at 31 December 2021 and of its incoming resources and application of resources for the year then 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 Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts 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** We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: - the Executive Committee’ use of the going concern basis of the accounting in the preparation of the financial statements is not appropriate; or - the Executive Committee has not disclosed in the financial statements any identified material uncertainties that may cast doubt about the charity’s ability to continue to adopt the going concern basis of accounting for the period of at least twelve months from the date when the financial statements are authorised for issue. ## **Other information** The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Executive Committee is responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are require 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 requires us to report to you if, in our opinion: - the information given in the Annual Report of the Executive Committee is inconsistent in any material respect with the financial statements: or - sufficient accounting records have not been kept; or - the 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. -8- ## **INDEPENDENT AUDITORS’ REPORT (CONTINUED) TO THE EXECUTIVE COMMITTEE OF THE FRIENDS OF ST MARY’S HOSPITAL W2** ## **Responsibilities of the Executive Committee** As described more fully in the statement of the Executive Committee responsibilities, the Executive Committee is responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the Executive Committee determines 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 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 Executive Committee either intend to liquidate the 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 auditors under section 144 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 an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not 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, is detailed below. We gained an understanding of the legal and regulatory framework applicable to the charity, and considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focussed on law and regulations which could give rise to material misstatements in the financial statements, including, but not limited to, the Charities Act 2011. Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponcibilities. This description forms part of our auditor’s report. This report is made solely to the Executive Committee of the Charity, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Executive Committee 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 charity and its’ Executive Committee as a body, for our audit work, for this report, or for the opinions we have formed. -9- **Glazers Statutory Auditor 843 Finchley Road London NW11 8NA Date: …………………………** Glazers is eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006. **FRIENDS OF ST MARY’S HOSPITAL W2** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** |Income
_Voluntary Income:-_
- Donations, gifts and legacies
- Subscriptions
_Income from charitable_
_activities:-_
- Gross income from services
- Fundraising ventures
Government furlough refund
Investment income
Total income
Expenditure:-
_Costs of generating funds:_
_General fund – Direct_
Costs of services - Direct
- Indirect
_Charitable expenditure:_
Gifts, grants and research
advances
Support and administration
costs:-
-Net cost of furloughed Shop
and Café Staf
- Other support and
administration costs
Total expenditure
Net movement in funds
Total funds b/fwd.
Total funds c/fwd.|Notes
(2)
(2)
(2)
(3)
(4)
(4)||
General
Funds
£
74,378
790
1,173
9,277
19,816
8
105,442
78
3
1,099
1,125
12,749
23,671
26,068
65,495
39,947
70,701
110,648|
Restricted
Funds
£
10,000
-
-
-
-
-
10,000
-
-
-
3,500
-
3,500
6,500
3,835
10,335|| |---|---|---|---|---|---| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| **FRIENDS OF ST MARY’S HOSPITAL W2** ## **BALANCE SHEET** ## **AS AT 31 DECEMBER 2021** |Notes
FIXED ASSETS
Tangible Fixed Assets
(6)
Investments
(7)
CURRENT ASSETS
Stocks
(8)
Debtors
(9)
Cash at Bank and In Hand
Current Liabilities
(10)
Total Assets Less Current
Liabilities
Funds of the Charity
General Funds
(1.8)
Restricted funds
(1.8, 5)
(11)|2021
£
£
73
22,243
22,316
3,148
4,418
103,955
111,521
(12,854)
98,667
120,98
3
110,64
8
10,33
5
120,98
3|2020
£
£
140
22,241
22,381
4,928
10,189
81,289
96,406
(44,251)
52,155
74,53
6
70,70
1
3,83
5
74,53
6|2020
£
£
140
22,241
22,381
4,928
10,189
81,289
96,406
(44,251)
52,155
74,53
6
70,70
1
3,83
5
74,53
6| |---|---|---|---| ||||22,381
52,155| ||||74,53
6| ||||70,70
1
3,83
5| ||||74,53
6| The accounts set out on the attached pages were approved by the Executive Committee of Friends of St Mary’s Hospital and signed on their behalf by:- …………………………… ……………………………… Miss J Winslow - Deputy Chairman Mr C W Umpleby - Treasurer Date ……………………… **FRIENDS OF ST MARY’S HOSPITAL W2** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** ## 1. Accounting policies ## 1.1 Accounting convention The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated. The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, “Accounting and Reporting by Charities” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## 1.2 Going Concern The financial statements have been prepared on going concern basis, at the time of approving the financial statements, the Executive Committee have a reasonable expectation that the charity will have adequate resources to continue in the foreseeable future as fully explained in reserve policy note on page 5. The Covid-19 pandemic led to The NHS Trust taking over our former Shop and Cafe site to run an in-house Service. The space previously occupied by the Western Eye kiosk and Paterson Wing Trolley have been taken over for clinical use and improved access for disabled patients and covid safe space requirements. We had to furlough our Shop and Café staff, who were subsequently TUPEd to the Trust. It is clear that we will be unable to restart these retail outlets, but we are hoping to be granted space in which to sell non-food items, including a click and collect service for memorabilia, etc. so that we can re-establish a daily presence in the Hospitals and increase our fundraising potential. We have therefore suspended consideration of grant applications for support from our unrestricted funds, as one of our main sources of income have ceased. ## 1.3 Fixed Assets All tangible fixed assets are for use by the charity, held within the UK, and are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures, fittings & equipment - 25% pa on reducing balance basis Hospital Shop - 10% pa on straight line basis (i.e. over 10 years) Quoted Investments are stated at market value. ## 1.4 Income Voluntary income and donations are accounted for as received by the charity. The income from fundraising ventures and services is shown gross, with the associated costs relating to the latter, included in service costs. Investment income is accounted for in the period in which the charity is entitled to receipt. ## 1.5 Expenditure - Expenditure is included on an accrual basis and has been classified under headings which aggregate all costs relating to that category. ## 1.6 Stock Stocks of goods for resale by the General Fund and Services are included in the accounts at the lower of cost and net realisable value. ## 1.7 Investments Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year. **FRIENDS OF ST MARY’S HOSPITAL W2** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** cont.…… ## 1.8 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. In respect of this, The Executive Committee are of the opinion that it is prudent to set aside a provision, out of unrestricted funds, in respect of closure costs and other unforeseen liabilities. They consider that the balance of unrestricted funds available should be sufficient for this. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income and gains are allocated to the appropriate fund. |Services|||Western Eye|| |---|---|---|---|---| ||Hospital|Friends|Hospital –|| ||Shop|Cafe|Tea Bar|Total| ||£|£|£|£| |Sales|737|436|-|1,173| |Direct Expenses|(1,099)|-|-|(1,099)| ||(362)|436|-|74| |Indirect Expenses|(784)|(341)|-|(1,125)| |Surplus/(defcit) for year,||||| |excluding Investment|(1,146)|95|-|(1,051)| |Income||||| ## 2. Services The staff costs for the year amounted to £40,310 (2020: £126,911). The average number of full time and part time employees was 4 (2020: 8). The staff are paid by the NHS Trust and the charity is invoiced monthly with the cost. The charity did not pay more than £60,000 for any one employee. ## 3. Gifts and Grants Details of gifts and grants awarded during the year are as detailed in the report of the Executive Committee. ||Support and administration Costs|2021|2020| |---|---|---|---| |||£|£| ||Salaries and pension|16,639|16,639| ||Net cost of furloughed Shop and Café Staf|23,671|79,343| ||Printing, postage, stationery and|976|1,883| ||telephone||| ||Bank charges|183|208| ||Insurance|1,230|2,634| ||Accountancy and audit|5,315|6,285| ||Other administration costs|1,724|1,337| |||49,738|108,329| ## 4. Support and administration Costs ## 5. Movements in Restricted Funds |Balanc
e
1.1.21
Income|Investme
nt
Income|Outgoing
s|Balanc
e
31.12.2| |---|---|---|---| ||||1| ||£|£|£||£|£| |---|---|---|---|---|---|---| |Sundry||||||| |legacies||||||| |and Ward|3,835|10,000||-|3,500|10,335| |funds||||||| |held||||||| Restricted funds are represented by investments and funds held at bank as at 31.12.21. -14- **FRIENDS OF ST MARY’S HOSPITAL W2** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** cont. …… ## 6. Tangible Fixed Assets |6.Tangible Fixed Assets|||||| |---|---|---|---|---|---| |Cost
At 1 January 2021
At 31 December 2021
Depreciation
At 1 January 2021
Charge for the year
At 31 December 2021
Net Book Value
At 31 December 2021
At 31 December 2020
7.Investments
Post Ofce Investment Account
8.Stocks
Stocks comprise goods for resale at:-
- General Fund (Christmas Cards)
- Hospital Shop
9.Debtors
Other debtors
10.Creditors, falling due within one year
Other creditors and accruals||2021
£
22,243
22,243
560
2,588
3,148
4,418
12,854
12,854||Fixtures,
Fittings &
Equipment
£
55,217|| ||||||| ||||||55,217| ||||||55,077
68| ||||||55,145| ||||||72| ||||||140| ||||||2020
£
22,241| ||||||22,241| ||||||896
4,032| ||||||4,928| ||||||10,189| ||||||44,251| ||||||44,251| -15- **FRIENDS OF ST MARY’S HOSPITAL W2** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 DECEMBER 2021** cont.……… ## 11. Reconciliation of Movement on Funds for the year |GENERAL FUND
Balance at 1.1.20
Less:
Excess of income over
expenditure after transfers from
other funds
FRIENDS CAFÉ FUND ACCOUNT
Balance at 1.1.20
Add:
Excess of expenditure over
income
Less
:Transfer to General Fund
HOSPITAL SHOP FUND ACCOUNT
Balance at 1.1.20
Add:
Excess of income over
expenditure
Less:
Transfer to General Fund
WESTERN EYE HOSPITAL-TEA BAR
FUND ACCOUNT
Balance at 1.1.20
Add:
Excess of income over
expenditure
Less:
Transfer to General Fund|2021
£
£
129,870
47,496
177,366
(46,33
8)
9
6
(46,24
2)
-
(46,24
2)
(12,049
)
(1,14
5)
(13,19
4)
-
(13,194)
3,05
3
-
3,05
3
-
3,053
120,983|2020
£
£
84,989
44,881
129,870
(38,60
8)
(7,73
0)
(46,33
8)
-
(46,33
8)
(3,664
)
(8,38
5)
(12,04
9)
-
(12,049)
3,09
0
46
3
3,55
3
(500)
3,053
74,536|2020
£
£
84,989
44,881
129,870
(38,60
8)
(7,73
0)
(46,33
8)
-
(46,33
8)
(3,664
)
(8,38
5)
(12,04
9)
-
(12,049)
3,09
0
46
3
3,55
3
(500)
3,053
74,536| |---|---|---|---| ||||74,536| ## 12. Members Remuneration The members neither received nor waived any emoluments during the year (2020: £NIL).