FRIENDS OF ST MARY'S HOSPITAL W2 REPORT OF THE EXECUTIVE cOMMIEE AND AUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 CHARITY NO: 252665 GLAZERS CHARTERED ACCOUNTANTS 843 FINCHLEY ROAD LONDON NW118NA
FRIENDS OF ST MARY'S HOSPITAL W2 CHARITY INFORMATION Ex8cutiv• Cornmi The Lady Jane Fellowes- Patron Dr R fv'vers- President Chairmartr P05t vacant Mkss J Wlnsh)w- Deputy Chaimian igs S Lennon- Dgputy Chalrman Mem Mrs O Akon Mrs M A51an Mrs N Bamètt Mrs M Carvil Mrs M Cochrana Ms M R Harper Mrs L Plckley Mrs J Prenderg&41 Mrs M Llnford Administration Mrs R Bahar - Secretary Mr W Umploby- Traasurer Mrs M Aslan- Memborshlp Secretsry Chari 252665 harlt Offices Friends of St Mary's Fh)spital Praed Stre¢t London W2 1 NY Auditors Glazers 843 FIhleY Road LcOn NW118NA Bankers National Westrnlrtster Bank plc 69 Baker Stre&t London W1U SAT
FRIENDS OF ST MARY'S HOSPITA W2 CONTENTS Report ofthe Extreuknve Committee 3-7 Auditors, Report &10 ststement of Financial Activthes 11 B818nco Sheet 12 Notes to the Accounis 13-16
FRIENDS OF ST MARY'S HOSPITAL W2 ANNUAL REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2023 The Ex8CUtive Committee prasents its report for the year end8d 31 December 2023 under the Charities Act 2011, together with audited accounts for the y8ar and confimi that the latter comply with the requirements of the ACL the Corists"tution and the Charities SORP applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabb in th• UK and R8publir ol Iland IFRS 102) leffectiv6 1 January 20191. ERENCE AND AD INISTRATIVE INFORMATION The Charity was founded in 1906 and Is reglstered with the Charity Commission under charity number 252665. The Exeeutjve Committ8e and principal address of the Charity ara as listed on Page 1 logethar with particulars of the Charity's professional advisors. STRUCTURE GOVERNANCE AND MANAGEMENT The Charity is a 5Ingle organisation. The funds raised through donallons, mèmbership $ubscriptlons and fundraising activities arg used to further the Objects. Aim5, ObjectiV95 and Activities of the Friends tsf St Mary's Hospital, W2 IFri8nd51. Thg Charily is govem8d by its constilubon dalng from 1906 and Lqst arnended in June 1999. The Governing Body 1$ the ExeculNe Cornmittèa. and members are elected annually at th8 Annual General Meeting. The member5 of the Executive Committee. as the eharily tru3t88s ol Ihe Charity, are legally responsible for the overall management and (x)ntrol ol the Friends and meel ebven times a year. The tnJst988 who served during tha yèar were., Miss J Winsk>w- Deputy Chairman, Mr5 D Akan. Mrs M Aslan, Mrs N BarnÈtt, Mrs M Carvillo, Mrs M Crthrane, Ms M R Harpèr, Mrs L Pickley. Mr8 J Prendergast, and Mrs M Linford. l imstees glve their trrne freely and no trustee rernuneration was paid during Ihe year. Thara were no exp8n5es claimed by Iru3t88s during the year. The day-lts-d8y running of th8 Fri8nds is dglegated to the PSid8nl, assisted by a part-time secretary, aThJ part- time treasur8r. The Execubv8 Committee is responsible for the manag8ment of the risks faced by the FTiends. Detailed consid8ration ol risk is dalegated lo Ihe Pr85id•nt. Risks ar• identified, assessed and controls established, and matters requirin9 formal action ar8 rèported to the Executive Cornmrtté•. In addilK)n the Friends comply with risk assessment procedurès in force in Thè Imperial College Heallhcare NHS Trust. As tha posl ol ChaLmi8n has b8en vacant for Some time, the Chalman's respon8ibiliti&s as nolgd abovè have been shared amongst th8 Ex8CUtive Committe9 and OffirS The Fri8nds is constituted as an uninctrpofated assoriation. Its objects arÈ to undertake: lal Any charit8blè work, which from timé to time is shown to be needed tr)r thé benefit of pationts and stsff. Ibl To raise funds and to receive conlribullons frorn any persons or organisalions by way of subscription, covènant, donat*)n or olhervAse. Icl To prowde facilities or equipment which may be required fof the treatment of patSenls or for the efflcient running ol the Hospital and which may not be readily availablè through the National Health Service. Idl To provi¢Je amenitie3 in lh8 Hospital Icf patients and staff.
FRIENDS OF ST MARY'S HOSPITAL W2 ANNUAL REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2023 OBJECTS AIMS OBJECTIVES ANO ACTIVITIES continued The Friends meets these objectives by receiving donations and kwuesls and by fundraisin9 through an Annual Christtnas Bazaar. Raffle, Flag Days. Book Sales and collecting boxes throughout the Hospital 8nd in knal shops. Departments and Wards th the H05Pltal are invited to submit bids for grants, which ar8 considered by the Executive Committee at their regular rn89tings. Each y9ar Departments are also invited to Submit bids for the Spacial Project. The foTmer Friends Shop premises were lak8n over by the Trusl and our staff transferred under the TUPE ITransf8r ol Undertaking5. Prolection Df Employmenll Regulations In December 2020. and Ihe Café was simllarly taken over in July 2021 and staff TUPEd, just leaving Ihè part-lime Secretary and Tr¢asurer on the Friends payroll. The We5tgm Eye kiosk has r8mained closed. The members of the ExecutNe Committee have referred to the Charity ¢ommlssKsn's guidan on wbli¢ benefit when r8viewln9 the Chari¢y's airn and obje¢tives and PnnIng future activlties. The Friends of St Mary s Hospitsl does not US8 professional lundraisers for any of it5 fundraising activities. nor has it or its voluntary fundrAisers been subject to any undertaking to be bound by any scheme, #xcept when Flag Days are held on Rail Stations, when their ¢ode ol conduct is follow8d. No complaints were received by the Frlends or by our volunteers concerning our fundraising activities. CHIEVEMENT AND FORMANCE FOR THE YEAR REVIEW OF 2023 was another difficult y8ar for the Friends wth rw sales oullets 8t the Hospital. ft>1kjng the closurg of our Shop, Out-Patlent Calo and Wg¥t¢m Eye kK¥sk during lh8 coronavirus pand•mic and not bng permitted t reopen them. We continued to receive memb8rship subscriptions and donations. and he our annual bazaar aTKI raffte and sold Chri$tm8s Cards and some mernorabilia items. EV EW AND RESULT FOR T Gross income from the services during the year amounted to £4.501 12022.. £2.0401. Oiher Indlrect Cosis amounted to £69712022". £4181, with dir9cI eosts (purchases of goods lo sell) £1,40712022.' £2,763). &Apport and administration costs incknding salaries amounted to £29,628 (2022.. £27,967), salary & wnsion costs amounted to £19.07712022.' t16,7391. Income from Subscriplions tot8118d £665 12022.. £7401, trom 2007, on the advice of the VAT offi. where Friends have paid more than the suggested minimum rate of £10, the excess has been recorded as a donati in 2023 thes6 amounted to £1,75712022'. £1,942). Collection boxes around the Hospi181 and in local shops and pubs rais8d a total of £42612022.. £1.0161, refiecling reduced use of cash 3nd closure of our Shop and Calé and Western Eye kiosk, The Bazaar arKI the raffle raised £7,61812022. £8,200), Book and cake sales £1,443 12022.. £1.2981. Flag doys raised £27512022.. £3521. Chrislma8 card sales raised £1.48712022'. £2,254).
FRIENDS OF ST MARY'S HOSPITAL W2 ANNUAL REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2023 FINANCIAL REVIEW AND RESULTS FOR THE YEAR contlnu8d During lh8 year £109 12022-. £2,489) has bèèn received throLwJh Just GivirwJ from Individual donors and snSored events by grateful patients ol the hospit81 and Iheir friends and families. We are very gral&ful for all donations, including Ihe following.. £10,000 Burns £1,500 Knight Fr8nk18az8ar Donationl £1,000 GMS Estates IRaffle Piizesl £1.525 Eileen Smith (Painting5 sale donation) £1.000 Bayswaler Residents Association £4.905 Fitton Trust The Executiv8 Committee approved the following grants clurlng 2023.. E28,080 Nordic Neurolab £2,330 Croyde Medical £737 Mortuary £761 Maternity Bereavement The folh)wng rècurring gffts and grants were approved in 2023, however most wer• not able to be used, and have been carried over to 2024.. £2.960 £1,000 £1,000 £250 £2,800 £6(X) £1C4) Chapel Music Christmas Gifts for Palienls Ghristmas Ward Festivities and Decorations Porters and Security Staff, ètc. Gratuities Music in Hospila15124 Concerts) Remembrance Service for Babies {PiintlnglRefreshrnentsl Wool for Home Knitters The balance in the General (unrestrted} Funds al 1 January 2023 was £123,143. Durlng the year, total income foi General lunr9strietedl Funds arnounted to £45,134 ¢ompar8d to total expenditure of £73,694 leaving a ¢airy foNard balan of £94.583. The total rArried fOrard in Restrted Funds was £12,028. Funds not requir8d for imrnadiate use are held in a P05t Office National Savings Investm8nt Account. Othar fvnd5 are hald in Current Accounts linked to Busine53 Rèservè Accounts at th* NAts"onal We8lmin51or Bank. RESERVES POLICY Dunng 2023 the balance in th8 unrestn'cted funds decreased lo £94,583. the fv40 month5 figure for unrestricted charftable expendil¢Jre h88 r8ducèd considerably. Thg trustees aim to maintain fre8 rès8rve5 in unrestricted funds which equate to approximately two months of unrestricted charitable expenditure. The irustees consider that this leval will provide sufficienl funds to respond to appllcations lor grants and 8nsur• that support and governance costs are covered.
FRIENDS OF ST MARY'S HOSPITAL W2 ANNUAL REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2023 FUTURE PLANS AND PR NCIPLE RISKS The NHS Tru51 closed our Shop and Out-patient Cafè. along wlth th8 Western Eye kiosk and Paterson Wing Tiolley in 2020. It is clear th3t we will be un8ble to reslilrt these retail outl&ts, but we are hoping to be granted space in which to sell mainly non-food items, ineludlng a click and collect service for memorabilia. etc. so that we Can reoslablish a presence in the Hospitals and In¢a$8 our fuThYraising polonlial. We hav8 been permittèd to hold weekty book and toy sales outside the QEQM Wing and trust that thls VAII continue and will be able to hold our Christmas Baz8ar again in 2024. The Imperial College Health¢are NHS Trust continues to r8view its service provision and use ol buildlngs across the St. Mary's, Western Ey8, Hammersrnith, Charing Cross and Queen Charlotte'5 Sltes. but the Friends of the constituent Hospitals havg 811 aged thal they 5hotsld remain separate bodies while maintaining close links The r•cruitment of volunteer3 1$ dealt with through the Impgrial Health Charity, and we a hopeful that when we are able to open a non-food oull8t. we will b8 able to recrult volunteers through them again. W8 have resurned advertising for grant appIltiOnS fcrf support. STATEMENT OF EXECUTIVE COMMITTEE RESPONSIBILITIES The Executive Committee are required under the constitutn of the charity to prepare financial statements in accord8rice with applicable law and United ffjngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicè). Thè law applicablè lo chanti8s in England & Wales requlras tho Executivè Commlttee to prepare financial statetnents lor 88ch financial year which give a true and fair vi8w ol the state ol affairs of the charity and ol the incorning resources and application ol resources of the chatity for that perDd. In preparing those finala1 $tat8ments the Ex8CUtNe Cornmrttee are iequired to:. lal select suilable accounting poSicies and apply Ihem consistently-, Ibl observe the rnethods and prinCipS In the Charit18s SORP 2019 IFRS 1021.. 1¢) make judgements and eslimales that are reasonable and prud8nt,. Idl slate whether applicable accountin9 Staridards have been followèd. subject lo any material departures disclosed and explained in th8 financial 5ts18ments". lel prepare the fLnancial sta¢8m8nts on a going concem b88is unLess il is inappropri8te to presume that the Charity will continu8 in Operatn. The Executive Committee ara responsible for keeping proper auounting r8¢ord5 that disclos8 With aSOnable accuracy at any time the financial position ol the charity and enable th8m lo ensure that the financial statement5 comply with the Charities Act 2011. the Charity (Accounts and Reports) Rogulalions 2008 and the provisions of the constitution. They are also responsibb for saleguaidirvJ the ass&ts of the ¢h8rily and hencg for tsking r9950nable steps for the prevention and detectr'on of fraud and othèr irregularilig5.
FRIENDS OF ST MARY'S HOSPITAL W2 ANNUAL REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 DECEMBER 2023 STATEMENT OF DISCLOSURE TO AUDITORS So far as lh& Truslee5 are aware, there is no relevant audit inlormalion of which the Charity's audiloTS ar8 unawar8. Additionally, Trusloes hav8 lak8n all the necessary steps Ihat they ought lo have takern as Tru51ees in order to make thernselv8s aware of all r818vant audit information and to eslablish that the charlly's auditor5 are aware of Ihat InfoTrnalion. APPR This report wa$ 4pproved by the Exacutive Committee on thè date shown below and signod on their behalf by'.- $ J Winslow- Deputy Chaimi8n Mr C IIW Umple rel Date...... Date....
INDEPENDENT AUDrroRS' REPORT TO THE EXECUTIVE COMMITTEE OF THE FRIENDS OF ST MARY'S HOSPITAL W2 Oplnlon We have audited the financial slatem&nts of Th8 Friends of St. Mary's Hospital W2 (the 'charity'l for Ihe year ended 31 December 2023 set out on pages 11 to 16. The financial reporting framework thal has b88n applie¢J in their preparation is applicable law and United Kingdom Accounting Standards IUnit8d Kingdom Ganerally Accepted Accountsng Practic81 including FRS 102 'The Flnancial Reporting Standard applicable in the UK ènd Rewjblic of Ii•land'. In our opinion the financial statements.. -give a true and fair view of the stal8 of the charity S affairs as at 31 December 2023 and of its Incoming resources and application of resources for the year then &nded,. -have been properfy prepared in accordance with United Kin dom Generall A¢cepted Accounts'n9 Practiee., and have been prepared In accordan wlh the requirernenls o the Charities Act2011. Basls for opinion We conducted our oudll in accor(lanc6 wlth International Standards on Audibng IUKI IISAS IUKII and appliEabk law. Our responsibilities under those standards are further describgd in th& Auditor's r8sponsibilities lor th8 audit ol the acc¢wnts sèclion of our report. W8 a ind8p8nd8nt ol the charity in accordanc8 Wlth the ethical rèquirements that are relevant to our audit of the accounts In the UK. including the FRC'S EthicAI standard. and we have fulfilled our oth•r ethical re5pornsibilities In acrdanCe with thes8 raquiremenls. W8 believe Ihat the audit evidence we h8v8 obtained is sufficient and appropri8te to provide 8 basis lor our opinion. Con¢luslon8 rglatlllg to goin9 concèrn We have nothing to report in resped of the following mlgrs in relation to which the ISAS IUKI require us io rep lo you where: the ExecutNe Committ8e' us8 of the going conc9rn basis of ¢he accountirrfj in th8 preparation of the financial sialernenls is nol appropriate,. or the Executiv8 Commiltee has not disc105ed in the financial slaiements any identified material uncertainties that may cast doubl about thè charity's ability tt) conllnu6 to &Yopt the going concern basis of aecounling for the p8riod tsf at least bY81ve rnonths from the date when the financial slatements are aulhorised lor issue. Othgr inforrnatlon The other information comprises the Infomation includ8d in the annual report, other than the ffinancial statements and our audltor's report th8reon. The Executive Ctsmmittee is responsible for the other infofmatK)n. Our opinh)n on th8 financial statements doès mt cover the othgr infomiation and w8 do not express any form of assurance conclusion thèrèon. In cOnn8Ctn wlth our 8udit ol the financial stslements, our responsibility is to ad information and, in doing so, consider wh8ther Ihe other inforrnation is materially incon515t8llt with the financial statements or our Knoedge obtained in th8 audit or otherwise app&ars lo be materially missialed. If w& identify such material incons151encies or apparent material mtsststernents, we ar8 r8qyired to determine whether Iher8 is a material misstatement in the financlal statements or a material misstaternent of the other information. 11. bas8d on the work we have performed, we ctsnclude that th8re is a material misstatement of this other infomiation, wo are require to report that fact. We have nolhing to rèport in thi5 regard. Matters on whleh we are requlred to report by exceptlon Wa have noihing to r8POrt in respect of the following rnatteTS in relation to which the Charities {Accounts and Reports) Regulations 200B requiras us to report to you If, in our opinion.. the information given in thè Annual Report of the Executive Committèe is incon8isttrnl In any mat181 r8sp8et with the financial slatem6ntS.' OT SLJffici8nt &counting records have not been kept., or the financial statements are not in agr88ment with the accounb.ng records 8nd retums.. or we have not recewed all the information and 6xplanabons wa require for our audit.
INDEPENDENT AUDITORS, REPORT CONTINUED TO THE EXECUTIVE COMMITTEE OF THE FRIENDS OF ST MARY'S HOSPITAL W2 Responslbllltl•s of tho Exe¢uilve Committ•• As dgscribed more lully in the stat8rnent of the Execubve Commllteè SPonSibl11t1&5. lh8 Execubve Committ88 1$ responsible for the pparatIOn ol financial statements wh give a true and fair vi8w, and for such internal control 88 the Executive Committee dotermlnes is necessary to enable the preparation of financial statements that are free from material misst8t8rnent, whèther du8 to fraud or error. In preparing the financial statements. the tmst8as are responsible for a55e55ing the charily's ability lo continue a5 a going concern. disclosing as applicable. m8tteT5 rdated to goiThJ concern and using the going conc&rn bas15 of accounting unless tho Executive Committ88 erther intend to liquidatè the company or to cease OperatnS, or have no realistic atternative but to do so. AudiloVs rosponslbllltle8 for the audbt of the Ilnanclal gtatamonts We hav8 be8n appointed as auditors under section 144 of the Charities Act 2011 and report in accordance wilh the Act and relevant iegukticffls made or having effect theunder. Our objectives are to obtain reasonable assurance about whelher the finanaal statements as a Who are free from material misststement. whether due to fraud or error, and to issue an auditoi's report thal includ8s our opinion. Reasonable assurance is a high level of assuranc8 but is wt guarantee that èn audit conducted in arKordance with ISAS IUKI will alway5 delect a material misstaternent when il exists. Mi55tatements can arise from fraud or error and are considered material il. individualty or in the aggre9at8, they could reasonably expec¢eiJ to influenca Ihe economic decision5 of users taken on the basis of these financial statements. Irregularities. including fraud, are instanc8s of non-eompliance with laws and regulations. We design procedures in line with our r8sponsibilities. outlined above. io detect rnaterial misstatements in respect of irregularities, including fraud. The extent to whith our procedures 8r9 copablè ol d8tgcbng Irregulariii•s. including fraud. is detsi18d btslow. We gained an undèrstanding of th818gal and regulatory framework applicable to the charity, and considered the risk of acts by the charity that W8r8 contrary to applicable laws and regulations. including fraud. We desvJned audit proc8dures to respond to the risk, reeognising that Ihe risk of not detectlng a material rnisstatement due to fraud 15 higher than the risk of not dgtecting on• resulting frorn error, as fraud may involve deliberate concealment by, for example. forgery or intentional MIspreSentatIons, or through collu3ion. We Iocu538d on18w and regulations which could givè tse to material misstat8ments in the financial statements, including, but not limited to, the Charities Act 2011. Our tests included 89r88ing the financial statements disck)sures to underlyin9 SUPPtrrting documentation and 8nquiries wth manag8ment. There are inherent limitations in the audit procedur85 described above and. the furlher removed non-compliance with laws and regulations is from tho avents and transactions rèflècted in the financial statements, the 18ss likely we would become aware of it. We did not identify any k8y audit matters relating to irregulariti&s, Including fraud. As in all our audits, we alw addr85sed the risk of mana9ern8nt override ol intemal controls, inCding testing journals and evaluating wh8th8r thère was ovidence of bigs by the direciors that r8pr8sènted a risk of materi81 misstaternent due to fraud. A knrthgr description ol our responsibilit18s for the audit of the fin8ncial statements is locat8d on the Financial Reporting Council's web511e at". hltp'.Ilwww.trc.org.uklauditorsresponcibilities. This description forms part of our auditorfs report.
INDEPENDENT AUDITORS, REPORT CONTINUED TO THE EXECUTIVE COMMITTEE OF THE FRIENDS OF ST MARY'S HOSPITAL W2 Thls report is made sdety to th8 Exècutive Cornmitte8 of thè Charity. as 8 body, In accordance with part 4 of the Charlties IA¢¢ounts and Rtportsl Regulations 2008. audrt work has b88n und8rtaken so that we might 5tat8 to the ExecutlV8 Comrnittae those matters we 8re required to stsle to th8m in an auditorfs report and for no other purpose. To the full1 extent Permitted by law. we do not aept or assumè responsibility to anyone other than the charty and rts, Executive Comrnittee a5 a body. for our audll w¢xk. for this report. or for the OnionS w? have formed. Glaz•rs Statutory Audltor 843 Finchlèy Road London NW118NA l¢¥l.k)l.kni.*.... Glazers is elvJib18 to act as an auditor in ter of Section 1212 of the Companiès Act 2006. -10-
FRIENDS OF ST MARY'S HOSPITAL W2 BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes FVXED ASSETS Tangible Fixed Assets Investrnent5 10 22.264 22,274 171 22,436 22,443 CURRENT ASSETS Sto¢ks Oebtors Cash at Bank and In Har 181 191 801 344 93,939 95.084 1.446 32.110 90.726 124,282 Currwrt Liabilities 110} 11,648 84.168 112.634 Total Assets Less Current LiabilitSes 106,611 134.908 F nds ol the Chari G8nèral Funds Re8tri¢ted funds 11.8} 11.8. 51 94,583 12,028 123.143 11,765 106,611 134.SK)8 The accounts set (Mjt on thè attached page8 were gpproved by the Executive Committ88 ol Friends of St Mary's Hospital and swn8d on their behaff by'.- J Winslow- Deputy Chairman Mr C W Umplebii . Treasurer I-t, -12.
FRIENDS OF ST MARY'S HOSPITAL W2 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 General Fund Restricted Funds Total Total Incorne Voluntary Income... Donations, gilts and leg8Cleg Subscription5 In¢orne from charitablg activilies.'_ - Gross income from services FundraiSg v9ntures Govemment furlough refund Inv85tmenl income income 28,376 665 1.000 29.376 665 42,613 740 121 4,501 9,716 4,501 9,716 2.040 10,703 1.876 45.134 1.876 46,134 219 56.315 1,000 ndilure.. Cosls of g8neratin9 fijnds.. G8ner&l tund- Direct Costs of seNices- Direct - Indirect Charitable &xp&nc1itu.' Gths, grants and research advanc•s Support and 8drninistration costs.. -N•t cost ol lurbughed Shop and Café Staff - other support and adminislr8tk)n cost5 7,397 1,407 697 7.397 1,407 697 934 2,763 418 121 121 13) 34,565 737 35.302 10,308 141 141 29,628 29,628 27,967 Total ex 73,694 737 74,431 42.390 Net movament in funds 128,5601 263 128.2971 13,925 Total fund8 blfvrfd. Total funds cifwd. 123,143 94.583 11,765 12,028 134,908 106.611 120.983 134,908
FRIENDS OF ST MARY'S HOSPITAL W2 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountin licies 1.1 Accountin convention The financial ststements have been prepared under the histor1 cosl convention with ilèms recognised at cost or transackntsn vahJe unless otherwise statèd. Th8 accounts have been prepared In accordance with appIable accounting standards. the Statement f Recommendèd Practice, "Accounting and Reporting by Charilies. applicablè to Charitiés preparing th81r accounts in accardance with the Financial Reporting Standard applicabl8 in the UK and Republic of Ir91and IFRS 1021 leffective 1 January 20191. 1.2 Goin Concern The financial stalernenis have been prepared on goiTr3 concem basis, at the tir of approving the financial slai8ments, the Executivè Committee have a reasonable expecl8tion that the ¢harity will have adequa¢e resource5 to continue in the foreseeable future as fully explaird in reserve policy nole on ge5. 11 is clear thal w& will be unablÈ to rest3rt our Shop. Calé. and kiosks, but we 3re hoping to b8 granted space in which to sell nc>n-food items, including a click and collect service for memorabilia, elc., so that We can re-eslablish a daily presenc8 in the Hospitals and increase our fundraislng potenlial. We continue to receive m8mbèrship subscriptions, donations and occasional legacies and have started to advertise lor applications for gran18 frorn wards and deportmonts at tho Hospital. 1.3 Fixèd Assets Ai tangible fix8d assets ar8 for use by the charrty, hekl within the UK, and are statgd at cost less depreciation. Depr8ciation is provid8d at ¥ates cakul8ted lo write off the cost or valuation of fixed a85ets, less their estimated residual valu9, over their expected useful I'v8s on the followin9 bases: Fixtur85. ffit"ngs & equipment- 25% pa on reducing balan¢8 basis Hospi¢al Shop 10Yd pa on straight line basis li.e. OV 10 year51 Quotsd Investments arè stated at market value. 1.4 Incorne Voluntary incom8 and donaiions arè accounted for as received by the charrty. The incomè from fUndraisg veniures and services 18 shown gross. with the asswi8led costs relaling to the latter. includ8d in service ¢1)sls. Investment income ts wjunted for in the period in whith the charily is entitled to reeeipl. 1.5 Ex 8ndilure Expenditure is included on an accrual basis and has been clas$rfied under hèadings which aggregate all costs relatsng to thal category. 1.6 Stock Stocks of goods for resale by th• General Fund and Servicgs are included in tha accounts at the wer ol cost and net realisable v81ue. 1.7 Inve8tmants Inv8Stments are 5totad at market valu8 at the balanc8 Sheet date. The SOFA includ85 the net gains and kn5885 arising on revaluation5 and disp05als throughout the year.
FRIENDS OF ST MARY'S HOSPITAL W2 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 cont.. 1.8 Fund a¢countin General fund5 ar8 unrèstricted funds which are available fr)r use al the discretion of the trustees In lurtheranc8 of the general objectives of the charity and which have not been designated lor other purposes. In r8specl ol this. The Executive Committee are of the opinion Ihal il Is prudenl lo s61 aside a provision. out unrestricl8d luniys. in resp8Ct ol closure costs and other unforeseen liabllilies. They consider that Ihe balance of unrestricted funds availabl& shoukj be 5uffici8nt for this. ReStrted funds are funds which ar8 to be used in aceordance with speciflc restricOn5 irnposed by donors or ¥vhich have been raised by the charity for particular purptss6s. The cost of raising and 8dministerlno such fund5 are charged against the specific fund. The aim and use of each restrict@d fund is 89t out in the notes to thè financial statements. Investrn8nt Ineome and g8in5 are allocated to Iha appropriate fund. 2. seice5 Western Ey8 Hospital Tea Bar Hosptsl Sho Friends Cale Total Sa18S Oiwt Expenses 4,501 1,167 2.637 697 4.501 1.407 240 12401 Indirect Expenses suru$lldeI1ut) for year. excludlng Investment Incomg 240 1,940 2.397 The stsff costs lor the year amounted to £19,07712022.. £16,739). The averag8 number of full time and part time employees w8s 2 12022". 21. Th8 Staff are paid by the NHS Trust and th8 eharity is invoiced monthly with the cost. The charity dld not pay rnort than £60,000 lor any one employee. 3. Gifts and Grants Details of 9tfts and grants awarded during tha yoar are as detaId in the report of the Executive Commlttee. rt and administr "on Costs 2023 2022 Salaries and pension Printing, postag8, Statlonery and lelephone Bank char985 Insurance Accountancy and audit Olhw adminislralion costs 19,077 16,739 904 217 1.288 6.385 2.434 27,967 386 1.025 6,500 1.696 29,628 5. Mov In Restricted Funds Balance nvestment ncom8 lanctr neo ut oin Sundry18gacies and Ward funds held 11,765 1,000 737 12,028 Restricted fund5 ar8 psented by investments and fund5 held at bank as at 31.12.23. -14-
FRIENDS OF ST MARY'S HOSPITAL W2 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 cont. Fixed A Fixturgs Fittin At 1 January 2023 At 31 December 2023 55.217 55.217 Depreciation At 1 January 2023 Charge for the year At 31 Dacember 2023 55,206 55.210 Net Book Valu At 31 Decemb8r 2023 At 31 December 2022 10 2022 lrnents Post Office Investrnent Account 22,436 22.4 22.264 22.264 8. Stocks stocks comprise goods for resalè 8t'.- General Fund Ichrislrnss Cards) Hospital Shop 801 1.446 801 1.446 9. Dabtors Other debtors (prepayments and l•gaeAes receivable) 32,110 10.cre due wi Other creditors and 8c¢ruals 10,916 10.916 11,648 -15-
FRIENDS OF ST MARY'S HOSPITAL W2 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 conl.......... 11. Re¢onciliation of Mov8ment on Funds lor eaf 2023 2022 GENERAL FUND Balance al 1.1.23 192.4 177,366 . Excess of expendilui8 ovor income after transfers frorn other funds 30,891 15,034 161.509 192,400 FRIENDS CAFÉ FUNO ACCOUNT 8alance at 1.1.23 Add.. Excess of in¢ome over expenditurè 144,5041 2.746 141,7581 146,2421 1.739 144,5031 Less.. Transfer lo General Fund 141,7581 144,5031 HOSPITAL SHOP FUND A Balan al 1.1.23 Add.. Exc8ss ol 8xpenditure ovgr income COUNT 116.0471 185 116.232} 113,1941 2,853 {16,0471 Less.. Transfer to G8n8ral Fund 116.2321 116,0471 WE TERN EYE H FUND ACCOUNT Balance al 1.1.23 Add.. Excess ol incorne over expenditure PITA BAR 3,059 33 3.092 3,053 3,058 Les$.' Transfer to General Fund 3.092 106,611 3,058 134,908 12. Me bers R unerati Th9 members neither rèceivod nor waived any •molum8nts during the year12022.' £NILI. -16-