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 2022
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 2022
|
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 2022 |
|
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 2022
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December 2022.
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
of purposes including support for the rise in the cost of living, particularly in relation to heating and food costs.
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 £1,082,807 at 31 December 2021 to £1,188,495 at 31 December 2022.
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 2022
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 2022
Approved by order of the board of trustees on 9 June 2023 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')fortheyearended31December2022whichcomprisetheStatementofFinancialActivities,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 2022 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;
-weidentifiedthelawsandregulationsapplicabletothecharitythroughdiscussionswiththetrusteesand 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;
-weassessedtheextentofcompliancewiththelawsandregulationsidentifiedabovethroughmakingenquiries 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;
- 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;
-assessedwhetherjudgementsandassumptionsmadeindeterminingtheaccountingestimateswereindicative 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 2022
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
Providing financial assistance to other entities
Total
Net gains/(losses) on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
fund
£
325,136
14,772
339,908
5,517
5,517
73,992
24,069
103,578
(130,642)
105,688
1,082,807
1,188,495 |
Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
- |
2022
Total
funds
£
325,136
14,772
339,908
5,517
5,517
73,992
24,069
103,578
(130,642)
105,688
1,082,807
1,188,495 |
2021
Total
funds
£
86,325
14,312 |
|
|
|
|
100,637 |
|
|
|
|
5,510 |
|
|
|
|
5,510
53,560
31,054 |
|
|
|
|
90,124 |
|
|
|
|
62,166 |
|
|
|
|
72,679
1,010,128 |
|
|
|
|
1,082,807 |
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 2022
Notes
FIXED ASSETS
Tangible assets
13
Investments
14
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
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
£
511
908,033
908,544
4,925
284,248
289,173
(9,222)
279,951
1,188,495
1,188,495 |
Restricted
fund
£
-
-
-
-
-
-
-
-
-
- |
2022
Total
funds
£
511
908,033
908,544
4,925
284,248
289,173
(9,222)
279,951
1,188,495
1,188,495
1,188,495
1,188,495 |
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 |
|
|
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon9 June2023and 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 2022
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 2022
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.
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.
3. DONATIONS AND LEGACIES
DONATIONS AND LEGACIES |
|
|
Donations
Sundry incoming resources |
2022
£
325,136
-
325,136 |
2021
£
86,311
14 |
|
|
86,325 |
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 2022
4. INVESTMENT INCOME
2022
£
Income from fixed asset investments
14,529
Deposit account interest
243
14,772
5.
INVESTMENT MANAGEMENT COSTS
2022
£
Portfolio management
5,517
6.
CHARITABLE ACTIVITIES COSTS
Direct
Grant
Support
Costs (see
funding of
costs (see
note 7)
activities
note 8)
£
£
£
Providing financial assistance to league
members
15,448
46,180
12,364
Providing financial assistance to other
entities
-
24,069
-
15,448
70,249
12,364
7.
DIRECT COSTS OF CHARITABLE ACTIVITIES
2022
£
Christmas hampers for league members
15,448
8.
SUPPORT COSTS
Governance
Management
Finance
costs
£
£
£
Providing financial assistance to league
members
1,279
1,803
9,282 |
2021
£
14,308
4 |
|
14,312 |
|
2021
£
5,510
Totals
£
73,992
24,069 |
|
98,061 |
|
2021
£
12,955 |
|
Totals
£
12,364 |
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 2022
9. AUDITORS' REMUNERATION
AUDITORS' REMUNERATION |
|
|
|
2022 |
2021 |
|
£ |
£ |
Fees payable to the charity's auditors for the audit of the charity's financial |
|
|
statements |
9,282 |
9,140 |
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees'remunerationor other benefitsfor the year ended 31 December 2022 nor for the year
ended 31 December 2021.
Trustees' expenses
3 trustees(2021:1) were reimbursedforgeneralpostage,giftcardsandmeetingcoststotalling£3,725 (2021:
£851).
Executive committee transactions
2 membersoftheexecutivecommitteewasreimbursedforgeneralpostageandmeetingcoststotalling £168
(2021: 1 member reimbursed for £437).
2membersoftheexecutivecommittee(2021:3)receivedgrantsof£2,905(2021:£3,100)inlinewith the
charity's normal grant application procedures.
11. STAFF COSTS
The charity employed no staff in this or the prior year.
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
Providing financial assistance to other entities |
Unrestricted
fund
£
86,325
14,312
100,637
5,510
5,510
53,560
31,054 |
Restricted
fund
£
-
-
-
-
-
-
- |
Total
funds
£
86,325
14,312 |
|
|
|
100,637 |
|
|
|
5,510 |
|
|
|
5,510
53,560
31,054 |
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 2022
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Total
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
13.
TANGIBLE FIXED ASSETS
COST
At 1 January 2022 and 31 December 2022
DEPRECIATION
At 1 January 2022
Charge for year
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021 |
Unrestricted
fund
£
90,124
62,166
72,679
1,010,128
1,082,807 |
Restricted
fund
£
-
-
-
-
- |
Total
funds
£ |
|
|
|
90,124 |
|
|
|
62,166 |
|
|
|
72,679
1,010,128 |
|
|
|
1,082,807 |
|
|
|
Computer
equipment
£
744
47
186
233
511
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 2022
14. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
Shares
Other |
2022
£
881,782
26,251
908,033 |
2021
£
1,000,602
29,061 |
|
|
1,029,663 |
Additional information as follows:
MARKET VALUE
At 1 January 2022
Additions
Disposals
Revaluations
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021 |
Listed
investments
£
1,000,602
685,689
(673,867)
(130,642)
881,782
881,782
1,000,602 |
|
|
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:
|
2022 |
2021 |
|
£ |
£ |
Cash held for investment |
26,251 |
29,061 |
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 2022
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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
339,908
TOTAL FUNDS
339,908
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS |
At 1.1.22
£
1,082,807
1,082,807
Resources
expended
£
(103,578)
(103,578)
At 1.1.21
£
1,010,128
1,010,128 |
|
2022
£
4,925
2022
£
9,222
Net
movement
in funds
£
105,688
105,688
Gains and
losses
£
(130,642)
(130,642)
Net
movement
in funds
£
72,679
72,679 |
2021
£
4,765
2021
£
8,640
At
31.12.22
£
1,188,495
1,188,495
Movement
in funds
£
105,688
105,688
At
31.12.21
£
1,082,807
1,082,807 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 2022
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
100,637
100,637 |
Resources
expended
£
(90,124)
(90,124) |
Gains and
Movement
losses
in funds
£
£
62,166
72,679
62,166
72,679 |
Gains and
Movement
losses
in funds
£
£
62,166
72,679
62,166
72,679 |
|
|
|
|
72,679 |
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
At 1.1.21
£
1,010,128
1,010,128 |
Net
movement
in funds
£
178,367
178,367 |
At
31.12.22
£
1,188,495 |
|
|
|
1,188,495 |
A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:
Unrestricted funds
General fund
TOTAL FUNDS |
Incoming
resources
£
440,545
440,545 |
Resources
expended
£
(193,702)
(193,702) |
Gains and
Movement
losses
in funds
£
£
(68,476)
178,367
(68,476)
178,367 |
Gains and
Movement
losses
in funds
£
£
(68,476)
178,367
(68,476)
178,367 |
|
|
|
|
178,367 |
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 2022
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
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 2022
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 |
2022
£
325,136
-
325,136
14,529
243
14,772
339,908
5,517
15,448
24,069
46,180
85,697
434
845
1,279
1,230
387
186
1,803
9,282 |
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 |
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
Total resources expended
Net income before gains and losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments
Net income |
Detailed Statement of Financial Activities
for the Year Ended 31 December 2022 |
2022
£
103,578
236,330
(130,642)
105,688 |
2021
£ |
|
|
|
|
|
|
|
90,124 |
|
|
|
10,513
62,166 |
|
|
|
72,679 |
This page does not form part of the statutory financial statements
Page 21
Virtual Cabinet Portal Digital Signatures
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Signature 1
Signed by Catherine Comley using authentication code V2VtJDZ6Rmk2dVZX at IP address 208.127.199.138, on 2023/06/09 11:25:09 Z.
Catherine Comley's e-mail address is: cath.comley@nhs.net.