MOUNT VERNON HOSPITAL COMFORTS FUND Registered number 254331 ## Financial Statements Year ending 31[st] March 2022 0 ## **MOUNT VERNON HOSPITAL COMFORTD FUND** Registered number 254331 **FINANCIAL STATEMENTS** ## **YEAR ENDED 31[st] MARCH 2022** |**CONTENTS**||1| |---|---|---| |Trustees annual report|2-4|| |Independent examiner's report to the trustees|5|| |Statement of fnancial activities|6|| |Balance sheet|7|| |Notes to the fnancial statements
|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 Ms E Jones (resigned November 2021) Mr S Kanabar Mr J Laycock Ms A Norman Mrs L Almond: Administrator 1 ## **Mount Vernon Hospital Comforts Fund** Registered number 254331 **Trustees Annual Report Year ended 31[st] March 2022** ## **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. The Fund also 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. Throughout the year our Radiotherapy Tea Bar, Trolley Service and Occupational Therapy Aids service were unable to operate as they require access to clinical areas of the hospital which were restricted due to Covid-19 regulations. ## **Achievements, performance and future plans** The current year has continued to be affected by the Covid-19 pandemic, although to a lesser degree than the prior year. We entered the year tentatively coming out of lockdown with three outlets, The Shop, Bookshop and Look In shop opening for mornings only 4 days a week. By the second quarter we had progressed to longer opening hours for 5 days a week in these three outlets. However, our other services which operate in clinical areas of the hospital remained closed throughout the year 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. Our total sales therefore recovered to some extent on the previous year to £68,634 (2021 £9,344) the Look In shop exceeded sales for 2019 and the other two open outlets achieved around two thirds of the sales levels achieved in 2019. The overall sales were just over 50% of our 2019 sales, which the Trustees consider to be a good performance against the backdrop of the Covid19 pandemic. The grants made by the Fund to departments at Mount Vernon Hospital increased in the year to £141,933, and this resulted in a healthy pipeline of commitments at the year-end of £108,900 The outlook for our operations remains positive and the Trustees are hopeful that our three remaining outlets can re-open later this year as the NHS allows normal activities to resume in clinical areas of the hospital. 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 started to recover as the nation has started to 2 learn to live with Covid-19 but activity levels are still only achieving 50% of the sales achieved prior to the pandemic. This was still a significant achievement with a surplus before grants of £41,962 (2021 £19,518) this is even more impressive when considering that the bequests received in 2021 of £15k were not repeated in 2022. So, at a trading level we generated a surplus of £40,585 (2021 £1,853). Amounts requested by the Hospital staff during the year led to awards of £141,933 (2021 £34,066) being approved for investment in new equipment and facilities. This increased value of awards recognises that hospital activities are rebounding after the initial impact of the pandemic. These awards include a substantial commitment by the Fund to refurbish the facilities for the Nurse led Urgent Treatment Centre. The overall impact of this increased activity was a deficit on the Statement of Financial Activities for the year of (£100,031) reflecting the Trustees desire to use our significant level of reserves to improve the facilities at the hospital ## **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. Even with the investment made during the year in grants to the hospital, our reserves comfortably exceed our minimum requirement and places the Fund in a strong position to weather the headwinds facing the UK economy. ## **Trustee Board** The Trustee Board has been relatively stable through the year with one resignation and no new appointments. The Trustee Board would like to thank Liz Jones for her significant contribution to the Fund as a Trustee for several 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 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 3 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 xx May 2022 4 ## Mount Vernon Hospital Comforts Fund Independent Examiner’s Report to the Trustees of Mount Vernon Hospital Comforts Fund Year ended 31[st] March 2022 I report on the accounts of the Charity for the year ended 31[st] March 2022 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. 11 May 2022 ## **Mount Vernon Hospital Comforts Fund** Statement of Financial Activities incorporating The Income and expenditure Account for Year ended 31[st] March 2022 Total Funds* Total Funds* 2022 2021 £ £ **Note** 5 **----- Start of picture text -----**
Income
Incoming resources from generating funds:
Voluntary income 2 847 14,939
Investment income 3 530 2,726
Incoming from charitable activities 4 68,634 9,344
Total income 70,011 27,009
Expenditure
Charitable trading activities 5 28,049 7,491
Provision of equipment and services to patients 5 141,993 (70,796
and staff )
Governance costs 5 0 0
Total Expenditure 170,041 (63,305)
Net (expenditure)/income before other (100,031) 90,314
recognised gains and losses
Total Funds brought forward 324,528 234,214
Total Funds carried forward 224,497 324,528
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* 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 6 ## MOUNT VERNON HOSPITAL COMFORTS FUND ## BALANCE SHEET As at 31[st] MARCH 2022 **----- Start of picture text -----**
Total Funds* Total Funds*
2022 2021
Note £ £
Current Assets
Stocks 7 5,638 4,975
Debtors 8 1,886 491
Cash at Bank 9 344,815 347,052
352.339 352,518
Creditors : amounts falling due 10 127,842 27,990
within one year
Net current assets 224,497 324,528
Total Assets less Current Liabilities 224,497 324,528
Total Funds 11 224,497 324,528
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* All the Funds are unrestricted These financial statements were approved by the trustees on 11 May 2022 and were signed on their behalf by: Robert Elkeles – Chairman Andrew Newell – Treasurer 7 ## Mount Vernon Hospital Comforts Fund Notes to the Financial Statements Year ended 31[st] March 2022 ## !. 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 **----- Start of picture text -----**
Unrestricted Unrestricted
Funds Funds
2022 2021
£ £
Donations 187 14,749
Collecting Boxes 525 190
Fund Raising 135 0
Total 847 14,939
3. Investment Income
Unrestricted Unrestricted
Funds Funds
2022 2021
£ £
Bank interest receivable 530 2,726
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## Mount Vernon Hospital Comforts Fund Notes to the Financial Statements Year ended 31[st] March 2022 ## 4. Income Unrestricted Unrestricted 8 **----- Start of picture text -----**
Funds Funds
2022 2021
£ £
Sale of goods and services 68,634 9,344
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## 5. Cost of Charitable activities **----- Start of picture text -----**
Unrestricted Unrestricted
Funds Funds
2022 2021
£ £
Trading activities 28,049 7,491
Provision of equipment and 141,993 (70,796)
services to
patients and staff
Governance Costs 0 0
Total 170,041 (63,305)
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## 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 self-employed administrator amounted to £4,845 (£3,863 – 2021). ## 7. Stocks **----- Start of picture text -----**
2022 2021
£ £
Stock 5,638 4,975
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## 8. Debtors **----- Start of picture text -----**
2022 2021
£ £
Trade Debtors 1,173 93
Prepayments 713 398
Total 1,886 491
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9 ## Mount Vernon Hospital Comforts Fund ## Notes to the Financial Statements Year ended 31[st] March 2022 ## 9. Cash at Bank **----- Start of picture text -----**
2022 2021
£ £
Cash in hand and at bank 184,815 47,052
Treasury deposits 160,000 300,000
Total 344,815 347,052
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## 10. Creditors **----- Start of picture text -----**
2022 2021
£ £
Trade creditors 1,973 606
Accruals 125,869 27,384
Total 127,842 27,990
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## 11. Unrestricted income funds **----- Start of picture text -----**
2022 2021
£ £
Balance at 1 [st] April 2021 324,528 234,214
net incoming (outgoing) resources (100,031) 90,314
for year
Balance 31 [st] March 2022 224,497 324,528
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All the net assets are unrestricted funds 10