2021-12-31-accounts - The Royal London Hospital League Of Nurses Benevolent Fund

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REGISTERED CHARITY NUMBER: 261295

The Royal London Hospital League
of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)
League of Nurses Benevolent Fund
Report of the Trustees and
Audited Financial Statements

for the Year Ended 31 December 2021

Knights Lowe Limited
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

The Royal London Hospital League
of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)
League of Nurses Benevolent Fund

`Contents of the Financial Statements for the Year Ended 31 December 2021`

	`Page`
`Reference and Administrative Details`	`1`
`Report of the Trustees`	`2 to 4`
`Report of the Independent Auditors`	`5 to 8`
`Statement of Financial Activities`	`9`
`Balance Sheet`	`10`
`Notes to the Financial Statements`	`11 to 19`
`Detailed Statement of Financial Activities`	`20 to 21`

The Royal London Hospital League
of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)
League of Nurses Benevolent Fund

`Reference and Administrative Details`	`Reference and Administrative Details`
`for the Year Ended 31 December 2021`
`TRUSTEES`	`Catherine Comley President`
	`Gary Caughey Honorary Treasurer`
	`Trudy Wood Vice President`
	`Anne Gee Vice President`
	`Pat Langstone Deputy President`
`PRINCIPAL ADDRESS`	`The Royal London Hospital`
	`5 The Post Room`
	`Whitechapel Road`
	`London`
	`E1 1FR`
`REGISTERED CHARITY NUMBER`	`261295`
`INDEPENDENT AUDITORS`	`Knights Lowe Limited`
	`Eldo House`
	`Kempson Way`
	`Suffolk Business Park`
	`Bury St Edmunds`
	`Suffolk`
	`IP32 7AR`
`BANKERS`	`Coutts & Co`
	`440 Strand`
	`London`
	`WC2R 0QS`
`INVESTMENT MANAGERS`	`Coutts & Co`
	`440 Strand`
	`London`
	`WC2R 0QS`

Page 1

`The Royal London Hospital League of Nurses Benevolent Fund The Royal London Hospital (Whitechapel) League of Nurses Benevolent Fund`

`Report of the Trustees for the Year Ended 31 December 2021`

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December 2021.
ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

The Charitywas establishedto providefinancialassistanceto any member of the League of Nurses whatever their age,
intimesofneed.Assistancecanalsobeprovidedtopresentorformermembersofthenursingstaffofthe Royal
LondonHospital.Thefundisadministeredinacompletelyconfidentialmanner.Contactismadethrough the
president.

`Public benefit`

The Trusteeshave givenconsiderationto the questionof the Charity'sstatuswithspecialregardto the benefitto the
communitybeyondits own membership.They have referredto the guidelineson the CharityCommissionwebsite and
are satisfied that both its activities and use of funds fully justify its charitable status.

Theyhavealsogivendueregardto theCharityCommissionGuidelineonpublicbenefitinformingtheobjectives and
activities of the Charity.

`Grantmaking and outgoings`

The grants and outgoings are provided from the income generated from the monies held in the Benevolent Fund.

`ACHIEVEMENT AND PERFORMANCE`

`Charitable activities`

The numberof members of the Leagueof Nursesreceivinggrantsremainedstable.The grantswere used for a  variety
ofpurposesincludingthepurchasealaptop,arampandfan,kitchenequipmentandsupportinthe extreme
circumstances caused by Covid-19.

TheLeaguekeepsincontactwithitsmoreseniormembersbysendinghampersovertheChristmasholiday. This
contact enables the President to offer assistance which members may not feel able to request themselves.

`Fundraising activities`

The charity does not carry out significant fundraising activities

`FINANCIAL REVIEW`

`Financial position`

Reserves grew from £1,010,128 at 31 December 2020 to £1,082,807 at 31 December 2021.

`Principal funding sources`

Funding is principally from income generated by the investment portfolio.

`Reserves policy`

The fund capital and any legacies received must be invested to generate income used for the purpose of the Charity.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The name of the charity is The Royal London Hospital League of Nurses Benevolent Fund.

The charity was established by Trust Deed dated 30 November 1970.

Page 2

The Royal London Hospital League
of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)
League of Nurses Benevolent Fund

`Report of the Trustees for the Year Ended 31 December 2021`

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Recruitment and appointment of new trustees`

ThePresident,VicePresidentandHonoraryOfficersstandastrusteesoftheBenevolentCommittee.Two members
are elected by the Executive Committee of the League of Nurses.

The HonoraryOfficersare appointedfor threeyears,butmay standfor re-electionby the ExecutiveCommittee. Vice
Presidentsare elected by the ExecutiveCommitteefor life and automaticallybecome trusteesof the Benevolent Fund
unless they resign from the Trusteeship.

`Organisational structure`

The RoyalLondonHospitalLeagueof NursesBenevolentFundis managedby the trusteeswho are responsiblefor the
administration, management and day-to-day control of the Charity.

`Risk management`

Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controls are in place to provide reasonable assurance against fraud and error.

Thetrusteesreviewthemajoroperationalriskswhichthecharityfacesandensurethatsystemsareinplace to
mitigate those risks.

The trustees consultat any time considerednecessarywith the fund manager of the charityfor the specific purpose of
assessing financial performance.

`STATEMENT OF TRUSTEES' RESPONSIBILITIES`

The trusteesare responsiblefor preparingthe Reportof the Trusteesand the financialstatementsin accordance with
applicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAcceptedAccounting Practice)
includingFinancialReportingStandard102"TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland"

ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(Accountsand Reports)
Regulations2008andtheprovisionsofthetrustdeedrequiresthetrusteestopreparefinancialstatementsfor each
financialyearwhichgiveatrueandfairviewofthestateofaffairsofthecharityandoftheincomingresources and
applicationofresources,includingtheincomeandexpenditure,ofthecharityforthatperiod.Inpreparing those
financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
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 business.

Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any
time the financialpositionof the charityandto enablethem to ensurethatthe financialstatementscomplywith the
CharitiesAct 2011, the Charity(Accountsand Reports)Regulations2008 and the provisionsof the trust deed. They  are
alsoresponsibleforsafeguardingtheassetsofthecharityandhencefortakingreasonablestepsforthe prevention
and detection of fraud and other irregularities.

Page 3

`The Royal London Hospital League of Nurses Benevolent Fund The Royal London Hospital (Whitechapel) League of Nurses Benevolent Fund`

`Report of the Trustees for the Year Ended 31 December 2021`

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................
Catherine Comley - Trustee

Page 4

`Report of the Independent Auditors to the Trustees of The Royal London Hospital League of Nurses Benevolent Fund`

`Opinion`

WehaveauditedthefinancialstatementsofTheRoyalLondonHospitalLeagueofNursesBenevolentFund (the
'charity')fortheyearended31December2021whichcomprisetheStatementofFinancialActivities,the Balance
Sheetandnotestothefinancialstatements,includingasummaryofsignificantaccountingpolicies.The financial
reportingframeworkthathasbeenappliedintheirpreparationisapplicablelawandUnitedKingdom Accounting
Standards(UnitedKingdomGenerallyAcceptedAccountingPractice),includingFinancialReportingStandard102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland'.

`In our opinion the financial statements:`

give a true and fair view of the state of the charity's affairs as at 31 December 2021 and of its incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
have been prepared in accordance with the requirements of the Charities Act 2011.

`Basis for opinion`

WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicable law.
OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditof the
financialstatementssectionofourreport.Weareindependentofthecharityinaccordancewiththe ethical
requirementsthat are relevantto our auditof the financialstatementsin the UK, includingthe FRC's Ethical Standard,
andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethat the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

`Conclusions relating to going concern`

In auditingthe financialstatements,we have concludedthat the trustees' use of the going concernbasis of  accounting
in the preparation of the financial statements is appropriate.

Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoevents or
conditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharity'sabilitytocontinueasa going
concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilitiesand the responsibilitiesof the trusteeswith respect to goingconcernare describedin the  relevant
sections of this report.

`Other information`

Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincluded in
the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand, in
doingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsor our
knowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuch material
inconsistenciesorapparentmaterialmisstatements,wearerequiredtodeterminewhetherthisgivesriseto a
materialmisstatementin the financialstatementsthemselves.If, based on the work we have performed,we  conclude
thatthereis a materialmisstatementof thisotherinformation,we are requiredto reportthatfact.We have nothing
to report in this regard.

Page 5

Report of the Independent Auditors to the Trustees of
The Royal London Hospital League
of Nurses Benevolent Fund

`Matters on which we are required to report by exception`

We have nothingto reportin respect of the followingmatters where the Charities(Accountsand Reports) Regulations
2008 requires us to report to you if, in our opinion:

the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

`Responsibilities of trustees`

As explainedmore fully in the Statementof Trustees'Responsibilities,the trusteesare responsiblefor the preparation
ofthefinancialstatementswhichgivea trueandfairview,andforsuchinternalcontrolasthetrusteesdetermine is
necessaryto enablethe preparationof financialstatementsthat are free from materialmisstatement,whetherdue  to
fraud or error.

Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilitytocontinueas a
goingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasis of
accountingunlessthetrusteeseitherintendtoliquidatethecharityortoceaseoperations,orhaveno realistic
alternative but to do so.

Page 6

Report of the Independent Auditors to the Trustees of
The Royal London Hospital League
of Nurses Benevolent Fund

`Our responsibilities for the audit of the financial statements`

WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreportinaccordancewith the
Act and relevant regulations made or having effect thereunder.

Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from
materialmisstatement,whether due to fraud or error, and to issue a Report of the IndependentAuditorsthat  includes
ouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconducted in
accordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarise from
fraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpected to
influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Ourapproachtoidentifyingandassessingtherisksofmaterialmisstatementinrespectofirregularities, including
fraud and non-compliance with laws and regulations, was as follows:

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the charity through discussions with the trustees and other management, and from our knowledge and experience of the charity's operating sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

Weassessedthesusceptibilityofthecharity'sfinancialstatementstomaterialmisstatement,includingobtaining an
understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; or;
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;

 To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;
investigated the rationale behind significant or unusual transactions;

Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReport of
the Independent Auditors.

Page 7

`Report of the Independent Auditors to the Trustees of The Royal London Hospital League of Nurses Benevolent Fund`

`Use of our report`

This reportis made solely to the charity'strustees,as a body,in accordancewith Part 4 of the Charities(Accounts and
Reports)Regulations2008. Our auditwork has been undertakenso that we might state to the charity'strustees those
matterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.Tothefullest extent
permittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharityandthe charity's
trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Knights Lowe Limited
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Date: .............................................

Page 8

`The Royal London Hospital League`

`of Nurses Benevolent Fund`

`The Royal London Hospital (Whitechapel) League of Nurses Benevolent Fund`

`Statement of Financial Activities for the Year Ended 31 December 2021`

`Notes` `INCOME AND ENDOWMENTS FROM` `Donations and legacies` `3` `Investment income` `4` `Total` `EXPENDITURE ON` `Raising funds` `Investment management costs` `5` `Charitable activities` `6` `Providing financial assistance to league` `members` `Total` `Net gains on investments` `NET INCOME` `RECONCILIATION OF FUNDS` `Total funds brought forward` `TOTAL FUNDS CARRIED FORWARD`	`Unrestricted` `fund` `£` `86,325` `14,312` `100,637` `5,510` `5,510` `84,614` `90,124` `62,166` `72,679` `1,010,128` `1,082,807`	`Restricted` `fund` `£` `-` `-` `-` `-` `-` `-` `-` `-` `-` `-` `-`	`2021` `Total` `funds` `£` `86,325` `14,312` `100,637` `5,510` `5,510` `84,614` `90,124` `62,166` `72,679` `1,010,128` `1,082,807`	`2020` `Total` `funds` `£` `4,214` `13,505`
				`17,719` `6,029`
				`6,029` `32,925`
				`38,954` `30,700`
				`9,465` `1,000,663`
				`1,010,128`

The notes form part of these financial statements

Page 9

`The Royal London Hospital League of Nurses Benevolent Fund The Royal London Hospital (Whitechapel)`

`League of Nurses Benevolent Fund`

`Balance Sheet`

`31 December 2021`

`Notes` `FIXED ASSETS` `Tangible assets` `13` `Investments` `14` `CURRENT ASSETS` `Debtors` `15` `Cash at bank` `CREDITORS` `Amounts falling due within one year` `16` `NET CURRENT ASSETS` `TOTAL ASSETS LESS CURRENT LIABILITIES` `NET ASSETS` `FUNDS` `17` `Unrestricted funds` `TOTAL FUNDS`	`Unrestricted` `fund` `£` `697` `1,029,663` `1,030,360` `4,765` `56,322` `61,087` `(8,640)` `52,447` `1,082,807` `1,082,807`	`Restricted` `fund` `£` `-` `-` `-` `-` `-` `-` `-` `-` `-` `-`	`2021` `Total` `funds` `£` `697` `1,029,663` `1,030,360` `4,765` `56,322` `61,087` `(8,640)` `52,447` `1,082,807` `1,082,807` `1,082,807` `1,082,807`	`2020` `Total` `funds` `£` `-` `958,699` `958,699` `24,684` `31,885` `56,569` `(5,140)` `51,429` `1,010,128` `1,010,128` `1,010,128` `1,010,128`

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:

.............................................
Catherine Comley - Trustee

The notes form part of these financial statements

Page 10

The Royal London Hospital League
of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)
League of Nurses Benevolent Fund

`Notes to the Financial Statements for the Year Ended 31 December 2021`

`1. GENERAL INFORMATION`

Thesefinancialstatementscovertheindividualcharity;TheRoyalLondonHospitalLeagueof Nurses
Benevolent Fund only.

All transactions are reported in £ Sterling, rounded to whole pounds only.

The financial statements comply with the provisions of SORP 2019.

The charity constitutes a public benefit entity as defined by FRS 102.

Thefinancialstatementshavebeenpreparedtogivea'trueandfair'viewandhavedepartedfrom the
Charities(Accountsand Reports)Regulations2008 only to the extent requiredto providea 'true and fair view'.
This departurehas involvedfollowingthe AccountingandReportingby Charities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicablein the UK andRepublicof Irelandissuedin October2019ratherthanthe Accountingand Reporting
by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn

`2. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsof thecharity,whichis a publicbenefitentityunderFRS 102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CharitiesAct 2011. The financialstatementshave been preparedunder the historicalcost convention,with the
exception of investments which are included at market value, as modified by the revaluation of certain assets.

`Financial reporting standard 102 - reduced disclosure exemptions`

Thecharityhastakenadvantageofthefollowingdisclosureexemptionsinpreparingthese financial
statements,aspermittedbyFRS102'TheFinancialReportingStandardapplicableintheUKandRepublic of
Ireland':

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirement of paragraph 33.7;
• the requirement of paragraph 24(b) of IFRS 6.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesonceallofthefollowingcriteriahave been
met:

The charity has entitlement to the funds Any performance conditions attached to the items of income have been met or are fully within the
- control of the charity
There is sufficient certainty that receipt of the income is considered probable
The amount can be measured reliably

continued...

Page 11

The Royal London Hospital League
of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)
League of Nurses Benevolent Fund

`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`

`2. ACCOUNTING POLICIES - continued`

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.

Grants offered subject to conditionswhich have not been met at the year end date are noted as a  commitment
but not accrued as expenditure.

`Tangible fixed assets`

Depreciationis providedat the followingannualrates in orderto write off each asset over its estimated useful
life.

Computer equipment- Straight line over 4 years

`Cash at bank and in hand`

Cashatbankandinhandincludescashandshorttermhighlyliquidinvestmentswithashortmaturity from
the date of acquisition or opening of the deposit or similar account.

`Fund accounting`

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

In 2019 there was a fund restrictedspecificallyto help retired nurses experiencingfinancialhardship.Since this
aimwassocloselyalignedwiththegeneralpurposeofthecharity,itwasconsideredappropriateto transfer
the remaining fund balance to the general fund and continue to provide this support via this fund.

There are currently no restricted funds held in the charity.

`Investment assets`

Investmentsareinitiallyrecognisedattheirtransactionvalueandsubsequentlymeasuredattheir market
valueattheBalanceSheetdateusingtheclosingquotedmarketprice.TheStatementofFinancial Activities
includes net gains or losses on revaluations and disposals throughout the year.

continued...

Page 12

The Royal London Hospital League
of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)
League of Nurses Benevolent Fund

`Notes to the Financial Statements - continued`

`for the Year Ended 31 December 2021`

`3. DONATIONS AND LEGACIES`

`2021` `£` `Donations` `86,311` `Sundry incoming resources` `14` `86,325` `4.` `INVESTMENT INCOME` `2021` `£` `Income from fixed asset investments` `14,308` `Deposit account interest` `4` `14,312` `5.` `INVESTMENT MANAGEMENT COSTS` `2021` `£` `Portfolio management` `5,510` `6.` `CHARITABLE ACTIVITIES COSTS` `Direct` `Grant` `Support` `Costs (see` `funding of` `costs (see` `note 7)` `activities` `note 8)` `£` `£` `£` `Providing financial assistance to league` `members` `12,955` `61,390` `10,269` `7.` `DIRECT COSTS OF CHARITABLE ACTIVITIES` `2021` `£` `Christmas hampers for league members` `12,955`	`2020` `£` `3,882` `332`
	`4,214`
	`2020` `£` `13,478` `27`
	`13,505`
	`2020` `£` `6,029` `Totals` `£` `84,614`
	`2020` `£` `8,183`

continued...

Page 13

The Royal London Hospital League
of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)

`League of Nurses Benevolent Fund`

`Notes to the Financial Statements - continued`

`for the Year Ended 31 December 2021`

`8. SUPPORT COSTS`

`Governance` `Management` `Finance` `costs` `£` `£` `£` `Providing financial assistance to league` `members` `105` `1,024` `9,140` `AUDITORS' REMUNERATION` `2021` `£` `Fees payable to the charity's auditors for the audit of the charity's financial` `statements` `9,140`	`Totals` `£` `10,269`
	`2020` `£` `1,570`

`9. AUDITORS' REMUNERATION`

`10. TRUSTEES' REMUNERATION AND BENEFITS`

There were no trustees'remunerationor other benefitsfor the year ended 31 December 2021 nor for the year
ended 31 December 2020.

`Trustees' expenses`

1 trustee (2020: 2) was reimbursed for general postage and meeting costs totalling £851 (2020: £
627).

In 2020 1 trustee was also reimbursed for a grant of £1,000 paid via personal funds (2021: £nil).

`Executive committee transactions`

1 memberoftheexecutivecommitteewerereimbursedforgeneralpostageandmeetingcoststotalling £437
(2020: 5 members reimbursed for £628).

3 membersoftheexecutivecommitteereceivedgrantsof£3,100(2020:£Nil)inlinewiththecharity's normal
grant application procedures.

In 2020 1 member of the executive committee received a loan of £300 which was repaidduringthe year  (2021:
£Nil).

`11. STAFF COSTS`

The charity employed no staff in this or the prior year.

continued...

Page 14

`The Royal London Hospital League of Nurses Benevolent Fund The Royal London Hospital (Whitechapel)`

`League of Nurses Benevolent Fund`

`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`

`12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

`INCOME AND ENDOWMENTS FROM` `Donations and legacies` `Investment income` `Total` `EXPENDITURE ON` `Raising funds` `Investment management costs` `Charitable activities` `Providing financial assistance to league` `members` `Total` `Net gains on investments` `NET INCOME` `RECONCILIATION OF FUNDS` `Total funds brought forward` `TOTAL FUNDS CARRIED FORWARD` `13.` `TANGIBLE FIXED ASSETS` `COST` `Additions` `DEPRECIATION` `Charge for year` `NET BOOK VALUE` `At 31 December 2021` `At 31 December 2020`	`Unrestricted` `fund` `£` `4,214` `13,505` `17,719` `6,029` `6,029` `32,925` `38,954` `30,700` `9,465` `1,000,663` `1,010,128`	`Restricted` `fund` `£` `-` `-` `-` `-` `-` `-` `-` `-` `-` `-` `-`	`Total` `funds` `£` `4,214` `13,505`
			`17,719` `6,029`
			`6,029` `32,925`
			`38,954` `30,700`
			`9,465` `1,000,663`
			`1,010,128`
			`Computer` `equipment` `£` `744` `47` `697` `-`

continued...

Page 15

The Royal London Hospital League
of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)

`League of Nurses Benevolent Fund`

`Notes to the Financial Statements - continued`

`for the Year Ended 31 December 2021`

`14. FIXED ASSET INVESTMENTS`

`Shares` `Other` `Additional information as follows:` `MARKET VALUE` `At 1 January 2021` `Additions` `Disposals` `Revaluations` `At 31 December 2021` `NET BOOK VALUE` `At 31 December 2021` `At 31 December 2020`	`2021` `£` `1,000,602` `29,061` `1,029,663`	`2020` `£` `947,771` `10,928` `958,699` `Listed` `investments` `£` `947,771` `507,747` `(517,082)` `62,166` `1,000,602` `1,000,602` `947,771`

There were no investment assets outside the UK.

Thefixedassetinvestmentis a portfoliomanagedbyCoutts& Co,consistingof equities,bonds,property and
cash. It includes investments in countries outside the United Kingdom.

Fixed asset investments are valued on an open market basis by Coutts & Co. at the year end.

Investments (neither listed nor unlisted) were as follows:

	`2021`	`2020`
	`£`	`£`
`Cash held for investment`	`29,061`	`10,928`

continued...

Page 16

The Royal London Hospital League
of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)

`League of Nurses Benevolent Fund`

`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`

`15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`Other debtors` `Prepayments` `16.` `CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Other creditors` `17.` `MOVEMENT IN FUNDS` `Unrestricted funds` `General fund` `TOTAL FUNDS` `Net movement in funds, included in the above are as follows:` `Incoming` `resources` `£` `Unrestricted funds` `General fund` `100,637` `TOTAL FUNDS` `100,637` `Comparatives for movement in funds` `Unrestricted funds` `General fund` `TOTAL FUNDS`	`At 1.1.21` `£` `1,010,128` `1,010,128` `Resources` `expended` `£` `(90,124)` `(90,124)` `At 1.1.20` `£` `1,000,663` `1,000,663`		`2021` `£` `-` `4,765` `4,765` `2021` `£` `8,640` `Net` `movement` `in funds` `£` `72,679` `72,679` `Gains and` `losses` `£` `62,166` `62,166` `Net` `movement` `in funds` `£` `9,465` `9,465`	`2020` `£` `24,684` `-` `24,684` `2020` `£` `5,140` `At` `31.12.21` `£` `1,082,807` `1,082,807` `Movement` `in funds` `£` `72,679` `72,679` `At` `31.12.20` `£` `1,010,128` `1,010,128`

continued...

Page 17

The Royal London Hospital League
of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)
League of Nurses Benevolent Fund

`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`

`17. MOVEMENT IN FUNDS - continued`

Comparative net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Gains and`	`Movement`
	`resources`	`expended`	`losses`	`in funds`
	`£`	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`17,719`	`(38,954)`	`30,700`	`9,465`
`TOTAL FUNDS`	`17,719`	`(38,954)`	`30,700`	`9,465`

A current year 12 months and prior year 12 months combined position is as follows:

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`At 1.1.20` `£` `1,000,663` `1,000,663`	`Net` `movement` `in funds` `£` `82,144` `82,144`	`At` `31.12.21` `£` `1,082,807`
			`1,082,807`

A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:

`Unrestricted funds` `General fund` `TOTAL FUNDS`	`Incoming` `resources` `£` `118,356` `118,356`	`Resources` `expended` `£` `(129,078)` `(129,078)`	`Gains and` `Movement` `losses` `in funds` `£` `£` `92,866` `82,144` `92,866` `82,144`	`Gains and` `Movement` `losses` `in funds` `£` `£` `92,866` `82,144` `92,866` `82,144`
				`82,144`

continued...

Page 18

The Royal London Hospital League
of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)
League of Nurses Benevolent Fund

`Notes to the Financial Statements - continued for the Year Ended 31 December 2021`

`18. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 December 2021.

Page 19

of Nurses Benevolent Fund
The Royal London Hospital (Whitechapel)
League of Nurses Benevolent Fund

`The Royal London Hospital League`

`Detailed Statement of Financial Activities` `for the Year Ended 31 December 2021` `INCOME AND ENDOWMENTS` `Donations and legacies` `Donations` `Sundry incoming resources` `Investment income` `Income from fixed asset investments` `Deposit account interest` `Total incoming resources` `EXPENDITURE` `Investment management costs` `Portfolio management` `Charitable activities` `Christmas hampers for league members` `Grants to institutions` `Grants to individuals` `Support costs` `Management` `Postage and stationery` `Travel and catering` `Finance` `Sundries` `Bank charges` `Computer equipment` `Governance costs` `Auditors' remuneration`	`2021` `£` `86,311` `14` `86,325` `14,308` `4` `14,312` `100,637` `5,510` `12,955` `31,054` `30,336` `74,345` `105` `-` `105` `603` `374` `47` `1,024` `9,140`	`2020` `£` `3,882` `332`
		`4,214` `13,478` `27`
		`13,505`
		`17,719` `6,029` `8,183` `-` `21,467`
		`29,650` `908` `797`
		`1,705` `-` `-` `-`
		`-` `1,570`

This page does not form part of the statutory financial statements

Page 20

`The Royal London Hospital League of Nurses Benevolent Fund The Royal London Hospital (Whitechapel) League of Nurses Benevolent Fund`

`Detailed Statement of Financial Activities`

`for the Year Ended 31 December 2021`

`Total resources expended` `Net income/(expenditure) before gains and` `losses` `Realised recognised gains and losses` `Realised gains/(losses) on fixed asset` `investments` `Net income`	`2021` `£` `90,124` `10,513` `62,166` `72,679`	`2020` `£` `38,954` `(21,235)` `30,700` `9,465`

This page does not form part of the statutory financial statements

Page 21

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Signed by James Knights using authentication code L1Yva8KjWkVcWnowaw== at IP address 213.129.74.45, on 2022/06/27 09:04:35 Z.

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James Knights added the following comments:

"Audit Report Signed"