MOUNT VERNON HOSPITAL COMFORTS FUND Registered number 254331 

## Financial Statements 

## Year ending 31[st] March 2021 

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## **MOUNT VERNON HOSPITAL COMFORTD FUND** 

Registered number 254331 

## **FINANCIAL STATEMENTS** 

## **YEAR ENDED 31[st] MARCH 2021** 

|**CONTENTS**|1|
|---|---|
|Trustees annual report|2-4|
|Independent examiner's report to the trustees|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notes to the financial statements<br>|8-10|



## **TRUSTEES** 

The trustees and officers who served the Charity during the period were:- 

Mr R. Elkeles: Chairman 

Mr A Newell: Hon Treasurer Miss G Andrew Ms C Burland Mr J Collis (resigned June 2020) Ms E Jones Mr S Kanabar Mr J Laycock Ms A Norman 

Mrs L Almond: Administrator 

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## **Mount Vernon Hospital Comforts Fund** 

Registered number 254331 

## **Trustees Annual Report Year ended 31[st] March 2021** 

## **Structure, Governance and Management** 

The fund’s objectives are to raise money to provide the patients and staff of Mount Vernon Hospital with equipment and services at the Hospital to benefit patient experiences and outcomes. 

The Comforts Fund operates a shop, which provides a variety of soft drinks, confectionery, toiletries, novelties, newspapers and stationery to patients, staff and visitors. It operates a trolley service to the Wards and provides stock to the Fund’s other outlets. The Fund also operates a busy refreshment facility in the Radiotherapy department and to complement these services operates a ‘Look in’ centre which sells goods, mainly clothes and bric-a-brac. There is also a well-used Bookshop adjacent to the Shop and occupational therapy aids are now on sale in response to demand from patients visiting the site. 

## **Achievements, performance and future plans** 

The current year has been somewhat blighted by the Covid-19 pandemic. We entered the year in a lockdown with all our outlets closed and were only able to resume the outlets that were not located in Clinical areas of the hospital, namely The Shop, the Book Shop and the Look In Shop. These outlets operated for four days a week and more limited hours between July and early November, and for a few weeks in December, otherwise they were unable to open under Government restrictions. All the outlets were risk assessed to ensure we could operate safely within the Government guidelines, and we invested in screens at the counters and contactless payment equipment for all outlets. 

Consequently, our total sales were substantially reduced to only £9,344 and the surplus generated from these activities was £6,910, compared to £75,536 in the previous year. 

The grants made by the Fund to departments at Mount Vernon Hospital reduced in the year to £34,066, and a grant in the previous year for £93k was cancelled when the hospital decided not to proceed with the refurbishment of the Minor Injuries Unit. The net impact of these activities is a reduction in Commitments of £70,796 at the year end, to £10,421. 

The outlook for our operations continues to be overshadowed by the Covid-19 pandemic. We are re-opening the three outlets that operated outside of the lockdowns last year from the 12 April 2021 and hope to be in a position to resume the 

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other outlets from late June if the Governments roadmap from exiting restrictions is achieved. 

Thanks to the tireless efforts and loyalty of all our volunteers the Charity is confident that it continues to have a useful future at Mount Vernon Hospital. 

## **Financial review** 

The activities of the fund have struggled this year, with the impact of the pandemic, with a surplus before grants of £19,518 (2020 £122,805) this reflects bequests received during the year of circa £15k with the operating surplus on our trading activities significantly reduced to circa £7k. Amounts requested by the Hospital staff during the year led to awards of £34,066 (2020 £155,303) being approved for investment in new equipment and facilities. This lower value of awards recognises both the impact of the pandemic on hospital activities as the NHS re-prioritised resources towards fighting the pandemic, and also the fact that in the prior year we had approved a significant grant of £93k which was not only not repeated, but in the end did not proceed. 

The overall impact of this reduced activity was a surplus on the Statement of Financial Activities for the year of £90,314 largely reflecting the reversal of grants made in the previous year of £70,796 and the near £20k underlying surplus mentioned above. This has increased the reserves at the year end to £324,528. 

## **Policy on reserves** 

The Fund’s policy on reserves is to retain sufficient working capital to operate its activities efficiently and meet its ongoing obligations in the event of unforeseeable interruption to its activities. In current circumstances it is considered this could be met by the retention of £50,000 in accumulated unrestricted reserves. However, it is recognised that the flow of grants awarded is unlikely to run at an even pace, resulting in accumulating funds increasing above the minimum referred to above. In the current situation with the Covid-19 pandemic this places the Fund in a strong position to weather the storm. 

## **Trustee Board** 

The Trustee Board has been stable through the year with one resignation and no new appointments. The Trustee Board would like to thank John Collis for his significant contribution to the Fund as both a Trustee and a volunteer for many years. 

## **Responsibilities of the Trustees** 

Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year. Under the law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable 

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law). The financial statements are required to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing these statements, the trustees are required to:- 

- *select suitable accounting policies and then apply them consistently; 

- make judgements and estimates that are reasonable and prudent; 

*prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. The trustees 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. 

## **Independent Examiner** 

A resolution to re-appoint Mrs Margaret Anthony BA, FCA, DchA of Hardcastle Burton as independent examiner for the ensuing year will be proposed at the Annual General Meeting. 

Signed on behalf of the trustees 

Robert Elkeles - Chairman Mount Vernon Hospital, Northwood, Middlesex HA6 2RN 12 May 2021 

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## Mount Vernon Hospital Comforts Fund Independent Examiner’s Report to the Trustees of Mount Vernon Hospital Comforts Fund Year ended 31[st] March 2021 

I report on the accounts of the Charity for the year ended 31[st] March 2021 as set out on pages 6 to 10. 

## **Respective responsibilities of Trustees and Independent Examiner** 

The Charity’s trustees are responsible for the preparation of the accounts. The Charity’s trustees consider that an audit is not required for this year under s.144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. 

It is my responsibility to: 

- examine the accounts (under section 145(1)(a) of the Act; 

- to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the Act, and 

- to state whether particular matters have come to my attention. 

## **Basis of Independent Examiner’s Statement** 

My examination was carried out in accordance with the General Directions given by the Charity’s Commissioners under s.145(5)b. An examination included a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement above. 

## **Independent Examiner’s Statement** 

In connection with my examination, no matter has come to my attention: 

- (1) which gives me reasonable cause to believe that in any material respect the requirements: 

   - (a) to keep accounting records in accordance with section 130 of the Act; and 

   - (b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act 

   - have not been met; or 

- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

Mrs M J Anthony BA, FCA,DChA, Independent Examiner 36, Dene Road, Northwood, Middlesex, HA6 2DA. 

May 2021 

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## **Mount Vernon Hospital Comforts Fund** Statement of Financial Activities incorporating The Income and expenditure Account for 

Year ended 31[st] March 2021 

||**Note**|Total Funds*<br>2021<br>£|Total Funds*<br>2020<br>£|
|---|---|---|---|
|**Income **||||
|Incomingresources fromgeneratingfunds:||||
|Voluntaryincome|2|14,939|44,880|
|Investment income|3|2,726|2,389|
|Incomingfrom charitable activities|4|9,344|134,760|
|||||
|**Total income**||27,009|182,029|
|||||
|**Expenditure**||||
|Charitable tradingactivities|5|7,491|59,224|
|Provision of equipment and services to patients and<br>staff|5|(70,796)|133,316|
|Governance costs|5|0|0|
|||||
|**Total Expenditure**||(63,305)|192,540|
|||||
|**Net (expenditure)/income  before other**<br>**recognisedgains and losses**||90,314|(10,511)|
|||||
|**Total Funds brought forward**||234,214|244,725|
|||||
|**Total Funds carried forward**||324,528|234,214|



* All the Funds are unrestricted 

The statement of Financial activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared 

All the above amounts relate to continuing activities 

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## MOUNT VERNON HOSPITAL COMFORTS FUND 

## BALANCE SHEET As at 31[st] MARCH 2021 

||**Note**|Total Funds*<br>2021<br>£|Total Funds*<br>2020<br>£|
|---|---|---|---|
|**Current Assets**||||
|Stocks|7|4,975|8,140|
|||||
|Debtors|8|491|804|
|||||
|Cash at Bank|9|347,052|361,699|
|||||
|||352,518|370,643|
|||||
|**Creditors**: amounts falling due<br>within oneyear|10|27,990|136,429|
|Net current assets||324,528|234,214|
|||||
|Total Assets less Current Liabilities||324,528|234,214|
|||||
|**Total Funds**|11|324,528|234,214|



* All the Funds are unrestricted 

These financial statements were approved by the trustees on 12 May 2021 and were signed on their behalf by: 

Robert Elkeles – Chairman 

Andrew Newell – Treasurer 

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## Mount Vernon Hospital Comforts Fund 

Notes to the Financial Statements Year ended 31[st] March 2021 

## !. Accounting policies 

Basis of accounting 

The financial statements have been prepared under the historical cost convention and in accordance with FRS102 (Charities SORP(FRS102)) and the Charities Act 2011. 

## Fixed assets 

All fixed assets are initially recorded at cost. Amounts less than £5,000 are written off in the year of purchase. 

## Stocks 

Stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow-moving stock. 

## 2. Voluntary income 

|2. Voluntaryincome|||
|---|---|---|
||Unrestricted<br>Funds<br>2021|Unrestricted<br>Funds<br>2020|
||£|£|
|Donations|14,749|43,114|
|CollectingBoxes|190|1,603|
|Fund Raising|0|163|
|Total|14,939|44,880|



## 3. Investment Income 

|3. Investment Income|||
|---|---|---|
||Unrestricted<br>Funds<br>2021|Unrestricted<br>Funds<br>2020|
||£|£|
|Bank interest receivable|2,726|2,389|



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## Mount Vernon Hospital Comforts Fund 

## Notes to the Financial Statements 

## Year ended 31[st] March 2021 

## 4. Income 

|4. Income|||
|---|---|---|
||Unrestricted<br>Funds<br>2021|Unrestricted<br>Funds<br>2020|
||£|£|
|Sale of goods and services|9,344|134,760|



## 5. Cost of Charitable activities 

|5. Cost ofCharitable activities|||
|---|---|---|
||Unrestricted<br>Funds<br>2021|Unrestricted<br>Funds<br>2020|
||£|£|
|Tradingactivities|7,491|59,224|
|Provision of equipment and services to<br>patients and staff|<br>(70,796)|133,316|
|Governance Costs|0|0|
|Total|(63,305)|192,540|



## 6. Staff costs and emoluments 

The Charity does not employ any staff and no payments have been made for the services of volunteers, including trustees during the year. Payments made to a selfemployed administrator amounted to £3,863 (£4,886 – 2020). 

## 7. Stocks 

|7. Stocks|||
|---|---|---|
||2021|2020|
||£|£|
|Stock|4,975|8,140|



## 8. Debtors 

|8. Debtors|||
|---|---|---|
||2021|2020|
||£|£|
|Trade Debtors|93|456|
|Prepayments|398|348|
|Total|491|804|



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## Mount Vernon Hospital Comforts Fund 

## Notes to the Financial Statements Year ended 31[st] March 2021 

## 9. Cash at Bank 

|9. Cash at Bank|||
|---|---|---|
||2021|2020|
||£|£|
|Cash in hand and at bank|47,052|121,699|
|Treasurydeposits|300,000|240,000|
|Total|347,052|361,699|



## 10. Creditors 

|10. Creditors|||
|---|---|---|
||2021|2020|
||£|£|
|Trade creditors|606|791|
|Accruals|27,384|135,638|
|Total|27,990|136,429|



## 11. Unrestricted income funds 

|11. Unrestricted incomefunds|||
|---|---|---|
||2021|2020|
||£|£|
|Balance at 1stApril 2020|234,214|244,725|
|net incoming (outgoing) resources for<br>year|90,314|(10,511)|
|Balance 31stMarch 2021|324,528|234,214|



All the net assets are unrestricted funds 

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