MOUNT VERNON HOSPITAL COMFORTS FUND Registered Charity number 254331 Financial Statements st Year ending 31 March 2025 MouNf VERNON HosprrAL COMFORTS FUND keg'sFered NmE*r 254331 FINANCIAL STATEMENTS YEAR ENDEt) 31st MARCH 2025 CONTENTS Trustees annual report 24 Independent examiner's report to the trustees Statement of f imncial activities Balance sheet Notes to the f inancial statements 8-10 TRUSTEES The trustees and off icers who serrfed the Charity duri￿ the period were:_ Mr R. Elkeles: Chairman Mr A Newell: Hon Treasurer MISS G Andrew Mr E Badke (co-opted 12 February 2025) Ms C Burland Mr J Laycock Ms A Norman (resi9ned 15 March 2025) Mrs L Almond.. Administrator (up to 31 July 2024) Mrs N Thakkar: Administrator (From l July 2024) Mount Vernon Hospital Comforts FWKI tystered Trjrn￿r 254331 Trustees An￿￿1 Report Ye(r ended 31st PAarch 2025 Structure. f2overnonce ¢Jnd Management The f und's objectives are to roise money to provide the patients and staf f 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 sof t drinks, conf ectionery, toi letries, novelties. newspapers and stationery to patients, staf f and visitors. The Fund also operates a 'Look in, shop which sells donated goods, mainly clothes and bric-o-brac. There is also a well-used 8¢Jokshop adjacent to the Shop. and occupational therapy aids ore now on sale in response to demand f rom patients visiting the site. Achievements, perfomance and futwe plans The current year has seen a small decline in the turnover in the two of the three outlets that have operated throughout the year, The Shop and Look In shop, with the Bookshop broadly f lat yeor on year. The Trustees consider this to be a satisfactory level of perf ormance. Our total sales declined by 4.670 on the previous year to £88.145 (2024 £92,131). The grants approved by the Fund to departments at Mount Vernon Hospital and Charities based on the site, in the year were £166.174. o threefold increase in the year. The improvement ref lected a decision by the Trustees to support Charities based on the Site includin9 Paul Strickland Centre and Michael Sobell House. This resulted in a pipeline of commitments at the year-end of £65,708 (£33,697 in 2024). The outlook f or 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. FintuKial review The activities of the fund remain stable with Sales Turnover down by 4.670 on the year at £88.145 {2024 £92.131) and Surplus f rom Trading activities down by 14/ty on the year at £49.183 (2024 £57.120). Investment Income at £12,812 (2024 £7.102) was up signif icantly ref lectin9 higher interest rates in the economy. Overall this was a steady achievement with a surplus bef ore grants of £63.571 (2024 £60.768). Amounts requested by the Hospital stof f duriThJ the year led to gross awards of £166,174 (2024 £51.036) although after cancellations of prior year awards that lapsed this became net awards of £147,745) (2024 £22,456) expensed in the year and outstanding commitments at the year-end of £65,708 (2024 £32.697) being approved f or investment in new equipment and facilities. The overall impact of these activities was a def icit on the Statement of Fironcial Activities f or the year of (£84.174) (2024 surplus of £38.312) ref lectin9 0 solid underlying f inancial perf ormance. 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 suf f icient workin9 capital to operate its activities eff iciently and meet its ongoiNJ obli9ations 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. Our reserves comf ortably exceed our minimum requirement and places the Fund in a strong position to weather the headwinds facin9 the UK economy. Trn￿tee Board The Trustee Board has seen one resi9rrtition towards the end of the year Of Andrea Norman. due to perSOr￿1 circumstances. and a new Trustee. Ed Badke, has been co- opted who will be proposed for election at the AGM. The Board of Trustees would like to place on record our thanks to Andrea for her si9nif icant contribution to the Charity duriw her time os Trustee. Responsibilities of the TTh￿$ Law applicable to charities in England and Wales requires the Trustees to prepare f inancial statements f or each f inancial year. Under the law the trustees hove elected to prepare the f inancial statements in accordance with United Kingdom Generally Accepted AccountiNJ Practice (United KiThJdom Accountin9 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 that period. In preparirg these statements. the trustees are required to:_ "select suitable accountiThJ policies and then apply them consistently: make judgements and estimates that are reasonable and prudent: prepare the f inancial statements on the 90ing concern basis unless it is Ir￿pprOprIate to presume that the charity will continue in operation. The trustees are responsible f or keep1￿j proper accountin9 records which disclose with reasonable accuracy at ary time the f inancial position of the charity and which enable them to ensure that the f irnncial statements comply with the Charities Act 2011. The trustees are also responsible f or saf eguarding the assets of the charity and hence f or takiTrJ reasonable steps for the prevention and detection of f raud and other irregularities. Independent Examiner A resolution to re-appoint Mrs Margaret Anthory BA. FCA. L)chA of Hardcastle Burton as independent examiner for the ensuing year will be proposed at the Annual Generol Meeting. Signed on behalf of the trustees Robert Elkeles - Chairman Mount Vernon Hospital, Northwood. Middlesex HA6 2kN 14 May 2025 Mount Vernon Hospital Comf orts Fund Independent Examiner's Report to the Trustees of Mount Vernon Hospital Comforts Fund Year ended 31SP March 2025 I report on the accounts of the Charity for the year ended 31° March 2025 as set out on po9es 6 to 10. Respective responsibilities of Trustees and Independent Exominer The Charity's trustees are responsible for the preparation of the accounts. The Charitys 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 sectlon 145(1)(a) of the Act: to f ollow 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 accountiw 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 seekin9 explanations f rom you as trustees concernin9 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 examimtion. no matter has come to my attention.. (l) which gives me reasonable cause to believe that in any material respect the requirements: (a) to keep accountirg records in accordance with section 130 of the Act: and (b) to prepare accounts which accord with the accounting records and comply with the accountirwj 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 understandiry of the accounts to be reached. Mrs M J Anthony BA. FCA.DChA, Independent Examiner 36, Dene Road. Northwood, Middlesex. HA6 2DA. 14 May 2025 Mount Vernon Hospital Comforts Fund Statement of Financial Activities incorporating The Income and expenditure Account f or Year ended 31st March 2025 Total Funds" 2025 Total Funds" 2024 I￿oMe Incomin9 resources f rom generatiThJ f unds: Voluntary income Investment income Incoming from charitable activities 1,576 12,812 88,145 (3.454) 7,102 92.131 Total income 102.533 95,779 Expendlture Charitable tradirg activities Provision of equipment and services to patients and staf f Govern(mce Costs 38,962 147.745 35,011 22,456 Total Expendlture 186,707 57,467 Net (¢xp¢nditureyln¢ome before othv Ised Ins and losses (84,174) 38,312 Total Funds brought forw¢wd 335.787 297,475 Total Funds carrid f¢)m 251,613 335,787 All the Fund$ Ijre uwestpicted The statement of FiTrJncial octiviti¢s includes all gains and losses in the yety thvefore a statement of totol recognised gains and bsses has rnjt been preFored All the above offwnts relote to corrtirnirg activities MOUNT VERNON HOSPITAL COMFORTS FUND BALANCE SHEET As at 31" MARCH 2025 Total Funds" 2025 Total Funds" 2024 Current Assets Stocks 4,154 4,698 Debtors 3,175 2,002 Cash at Bank 328.603 380,175 335.933 386,875 Creditors.. amounts falli￿ due within one ear Net current assets 10 84.320 51,094 251.613 335,781 Total Assets less Current Liabilittes 251,613 335,781 Total Funds 11 251.613 335,781 ' All the Funds are urrtstricted These f inancial statements were approved by the trustees on 14 May 2025 and were signed on their behalf by.. Robert Elkeles - Chairman And Newe urer Mount Vernon Hospital Comf orts Fund Notes to the FiTh]ncial Statements Year ended 31SP March 2025 l. Accounting policies Basis of accountir The f inancial statements have been prepared under the historical cost convention and in accordance with FRS102 (Charittes SORP(FRS102)) and the Charities Act 2011. Fixed assets All f ixed assets are initially recorded at cost. Amounts less than £5,000 are written off in the year of purch¢tse. Stocks Stocks are valued at the lower of cost and net realisable value. after maki allowance f or obsolete and slow-moviTh3 stock. 2. Volunta income Unrestricted Funds 2025 Unrestricted Funds 2024 t)onations Collectin Fund Raisi Total 1,083 392 ioi 1.576 (3,980) 381 145 (3,454) Boxes 3. Investment Income Unrestricted Funds 2025 Unrestricted Funds 2024 Bank interest receivable 12.812 7.102 Mount Verr￿n Hospital Comforts Fund Notes to the Fimncial Statements Year ended 31st March 2025 4. Income Unrestricted Funds 2025 Unrestricted Funds 2024 Sale of oods and services 88.145 92.131 5. Cost of Charitable activities Unrestricted Funds 2025 Unrestricted Funds 2024 Tradin activities Provision of equipment and services to atients and staf f Governonce Costs Total 38.962 147,745 35,011 22.456 186,707 57,467 6. Staf f costs and emoluments The Charity does not employ any staff and no payments have been made for the services of volunteers, includiry trustees duriThJ the year. Payments mode to a self- employed administrator amounted to £1,450 (£3.976 - 2024). Payments to an employed administrator amounted to £5,409 (£0 - 2024) 7. Stocks 2025 2024 Stock 4.154 4,698 8. Debtors 2025 2024 Trade Debtors Pre ments Total 2,193 982 3.175 1,063 938 2.002 Mount Vernon Hospital Comforts Fund Notes to the Financial Statements Year ended 31$* March 2025 9. Cash at Bank 2025 2024 Cash in hand ond at bank Treasu osits Total 58.603 270.( 328,603 70,175 310,000 380.175 10. Creditors 2025 2024 Trade creditors Accruals Total 1,186 83,133 84,320 966 50,128 51.094 11. Unrestricted income funds 2025 2024 8alance at lit ril 2024 net incomir9 (outg0iNJ) resources for 335,787 (84,174) 297,475 38.312 Balance 31st March 2025 251,613 335,787 All the net assets are unrestricted f unds io