MOUNT VERNON HOSPITAL COMFORTS FUND Registered number 254331 Firnncial Statements Year endin9 31st March 2023 Mov￿r VERNON HosprrAL COMFORTD FUND Re9sTrered runt*r 254331 FINANCIAL STATEMwrs YEAR ENDED 3151 MARCH 2023 Trustees amual report Independent examiner's report to the trustees Statement of f irnncial activities 8alance sheet Notes to the f imncial statements 8-10 TRUSTEES The trustees and of f icers who served the Charity durin9 the period were:_ Mr R. Elkeles: Chairman Mr A Newell.. Hon Treasurer Miss 6 Andrew Ms C 8urland Mr S Kanabar Mr J Laycock Ms A Norman Mrs L Almond: Administrator MThJnt VerTh￿ bknspital Comforts F￿K1 Re￿￿ered rnonbtr 254331 Year 31st March 2023 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 benef it patient experiences and outcomes. The Comforts Fund operates a shop, which provides a variety of soft drinks, conf ectionery, toiletries. novelties. newspapers and stationery to patients, staff and visitors. The Fund also operates o 'Look in. centre which sells donated 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. We were pleAsed that towards the end of the year that our, Trolley Service and Occupatiornl Therapy Aids service were able to Start operating a9ain after a long break due to Covid-19 restrictions. However, we were disappointed that we are unable to resume our Radiotherapy Tea Bar as the Hospital has reused this space for other purposes Achievements. perfrnaKe and fvtw¢ plans The current year has seen a good recovery in the turnover in the three outlets that have operated throu9hout the year, The Shop, Bookshop and Look In shop. The surplus in these three outlets exceeded comparable turnover for the last full year pre-covid 2019/20. This is encoura9in9, but the loss of the Radiotherapy Tea Bar on a permanent basis is a blow as pre-covid this ¢ontrib(rted amual surpluses in excess of £20k per annum. All the operating outlets were risk assessed to en￿re we could operate safely within the Government guidelines. Our total sales improved on the previous year to £79.329 (2022 £68.634) the Look In shop exceeded sales for 2020 (the last pre-covid year) by 177• and the other two open outlets achieved around 80% of the sales levels achieved in 2020. The overall sales were around 60% of our 2020 sales. largely reflectiry the closure of the Radiotherapy Tea Bar. which the Trustees consider to be a good perf ormance in the circumstances. The grants made by the Fund to departments at Mount Vernon Hospital in the year were £63.658 after cancellations of grants f rom prior years not utilised there was a reduction in grants duriThJ the year of £19.283. This resulted in a pipeline of commitments at the year-end of £35.561 (£108,900 in 2022). The major part of the cancellations durin9 the year related to refurtlishment of the Nurse led Urgent Treatment centre which has been delayed. dnd the Fund onticipotes that a further 9rant application will be received to support this refurbishment in the comin9 year. The outlook for our operations remains positive and the Trustees would like to thank all our volunteers for their tireless efforts and loyalty. The Charity is conf ident that it continues to have a useful future at Mount Vernon Hospital. Financial review The activities of the fund have recovered well following Covid-19 and the three outlets that have operated throu9hout the year have delivered surpluses on a like for like basis that represent a 9% improvement on those achieved in 2020 the last full year before Covid-19. Nevertheless, the loss of the Radiotherapy Tea Bar will result in surpluses goin9 forwards being circa £20k lower than was being achieved pre Covid-19. This was still a si9nif icant achievement with a surplus before grants of £53,693 (2022 £41.962). Amounts requested by the Hospital staff duriNJ the year led to gross owards of £63.658 although after cancellotions of prior year awards that lapsed this became net awards of (£19.283) (2022 £141.933) being approved for investment in new equipment ond facilities. The overall impact of these activities was a surplus on the Statement of Financial Activities for the year of £72.977 (2022 a def icit of £100.031) ref lectin9 a solid underlyin9 f inancial performance. The Trustees continue to work constructively with the Hospital authorities to identify opportunities to invest in improving the facilities on the Mount Vernon Hospital Site. Policy on reserves The Fund's policy on reserves is to retain sufficient working Capital to operate its activities efficiently and meet its on90iNJ obl15￿tIonS in the event of unforeseeable interruption to its activities. In current circumstances it is considered this could be met by the retention of £50,0(J) in accumulated unrestricted reserves. Our reserves comfortably exceed our minimum requirement and places the Fund in a stron9 Position to weather the headwinds facin9 the UK economy. T￿￿*¢¢ Board The Trustee Board has been stable through the year with M chaNJes in the Board composition. Responsibilities of the T￿￿ee$ Law applicable to charities in En9lond and Wales requires the Trustees to prepare financial statements for each f irnncial year. Under the law the trustees hove elected to prepare the f inanciol Sfatements in accordance with United KiNJdom Generally Accepted Accounting Practice (United Kirgdom Accounting Standards and applicable law). The f inancial statements are required to give a true and fair view of the state of affairs of the charity and of the surplus or def icit of the charity for thot period. In preparing these statements. the tTh￿eeS are required to'.- "select suitable accountiry policies and then appty them consistently: . make jud9ements and estiff￿te$ that are reasonable and prudent: "prepare the financial statements on the goiry concern basis unless it is irnppropriate to presume that the charity will continue in operation. The trustees are responsible for keepiry proper accounting records which disclose with reasonable accuracy at ary time the f inancial position of the charity and which er￿ble them to ensure that the f inancial statements comply with the Charities Act 2011. The trustees are also responsible for safeg￿rdIng the assets of the charity and hence for takin9 reasonable steps for the prevention and detection of fraud and other irregularities. Independent Examiner A resolution to re-appoint Mrs Mar9aret Anthony BA. FCA. DchA of Hardcastle Burton as independent examiner for the ensuirg year will be proposed at the Annual General Meeting. Signed o Aalf of the trustees Robert Elkeles - Chairman Mount Vernon Hospital, Northwood. Middlesex HA6 2RN 10 May 2023 Mount Vernon Hospital Comforts Fund Independent Examiner's Report to the Trustees of Mount Vernon Hospital Comforts Fund Year ended 31" March 2023 I report on the accounts of the Charity for the year ended 31" March 2023 as set out on pages 6 to 10. Respedive responsibilities of Trustees and Inth￿ 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) aNI that an independent examimtion is needed. It is my responsibility to: examine the accounts (under section 145(IXa) of the Act.. to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5Xb) of the Act, and to state whether particular matters have come to my attention. Basis of Ithpendent Examimr's Statement My examination was carried out in accordance with the fxneral Directions given by the Charity's Commissioners under s.145(5y). 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 ary unusual items or disclosures in the accounts, and seekiry explamtions 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 obove. Independent Examiner's Statement fn connection with my cxamination. no matter has come to my attention: (l) which gives me reasonable cause to believe that in ary material respect the requirements: (a) to keep accountiry records in accorthnce with section 130 of the Act,, (b) to prepare accounts which accord with the accounting records and comply with the accountiry requirements of the Act have not been met: or (2) to which, in my opinion, attention should be drawn in order to emble a proper understandiNJ of the accounts to be refjched. Mrs M J Anthory BA. FCA.DChA, Independent Examiner 36, Dene Road. Northwood. Middlesex. HA6 2DA. 10 May 2023 MLNMrt Vernon Fknspital Comfrt Fur Statement of Financial Activities incorporatin9 The Income and expenditure Account for Year erKled 31" March 2023 Total Funds" 2023 Total Funds" 2022 Income Incomiw resources f rom 9eneratiThJ funds: Voluntary income Investment income Incoming fram choritable activities 762 852 79.329 847 530 68,634 Total income 80.943 70,011 Exp¢ndltur¢ Charitable trading activities Provision of equipment and services to patients and staff Goverrnnce costs 27.249 (19,283) 28.049 141,993 Total Ex￿ndItUre 7.966 170,042 Net (expenditureyI￿l￿m¢ before ottr is¢d Ins and loss¢s 72,977 (100,031) Total Funds brwht forward 224.497 324,528 Total Funds caffled forw•Jrd 297.474 224,497 . All the FtWKb