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2023-12-31-accounts

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 2023

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 2023

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 for the Year Ended 31 December 2023

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 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Charity was established to provide financial assistance to any member of the League of Nurses whatever their age, in times of need. Assistance can also be provided to present or former members of the nursing staff of the Royal London Hospital. The fund is administered in a completely confidential manner. Contact is made through the president.

Public benefit

The Trustees have given consideration to the question of the Charity's status with special regard to the benefit to the community beyond its own membership. They have referred to the guidelines on the Charity Commission website and are satisfied that both its activities and use of funds fully justify its charitable status.

They have also given due regard to the Charity Commission Guideline on public benefit in forming the objectives 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 number of members of the League of Nurses receiving grants remained stable. The grants were used for a variety of purposes including support for the rise in the cost of living, particularly in relation to heating and food costs.

The League keeps in contact with its more senior members by sending hampers over the Christmas holiday. 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 £1,188,495 at 31 December 2022 to £1,234,758 at 31 December 2023.

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 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

The President, Vice President and Honorary Officers stand as trustees of the Benevolent Committee. Two members are elected by the Executive Committee of the League of Nurses.

The Honorary Officers are appointed for three years, but may stand for re-election by the Executive Committee. Vice Presidents are elected by the Executive Committee for life and automatically become trustees of the Benevolent Fund unless they resign from the Trusteeship.

Organisational structure

The Royal London Hospital League of Nurses Benevolent Fund is managed by the trustees who are responsible for the administration, management and day-to-day control of the Charity.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees review the major operational risks which the charity faces and ensure that systems are in place to mitigate those risks.

The trustees consult at any time considered necessary with the fund manager of the charity for the specific purpose of assessing financial performance.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the 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 2023

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

We have audited the financial statements of The Royal London Hospital League of Nurses Benevolent Fund (the 'charity') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 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 nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no 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

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities.This description forms part of our Report 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 report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the 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 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
Raising donations and legacies
5
Other trading activities
Investment management costs
6
Charitable activities
7
Providing financial assistance to league members
Providing financial assistance to other entities
Other
Total
Net gains/(losses) on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
40,154
31,051
71,205
-
713
5,880
6,593
76,349
-
12,576
95,518
70,576
46,263
1,188,495
1,234,758		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2023
Total
funds
£
40,154
31,051
71,205
-
713
5,880
6,593
76,349
-
12,576
95,518
70,576
46,263
1,188,495
1,234,758		 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

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 2023

Notes
FIXED ASSETS
Tangible assets
14
Investments
15
CURRENT ASSETS
Stocks
16
Debtors
17
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
18
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
19
Unrestricted funds
TOTAL FUNDS		 Unrestricted
fund
£
325
1,182,701
1,183,026
4,212
3,103
54,017
61,332
(9,600)
51,732
1,234,758
1,234,758		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-		 2023
Total
funds
£
325
1,182,701
1,183,026
4,212
3,103
54,017
61,332
(9,600)
51,732
1,234,758
1,234,758
1,234,758
1,234,758		 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

The financial statements were approved by the Board of Trustees and authorised for issue 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 2023

1. GENERAL INFORMATION

These financial statements cover the individual charity; The Royal London Hospital League of 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.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and 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

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost 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

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once all of the following criteria have been met:

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 2023

2. ACCOUNTING POLICIES - continued

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - Straight line over 4 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity 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.

Restricted funds can only be used for particular restricted purposes within the objects of the 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

Investments are initially recognised at their transaction value and subsequently measured at their market value at the Balance Sheet date using the closing quoted market price. The Statement of Financial 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 2023

3.
DONATIONS AND LEGACIES
Donations
Sales
4.
INVESTMENT INCOME
Income from fixed asset investments
Deposit account interest
5.
RAISING DONATIONS AND LEGACIES
6.
INVESTMENT MANAGEMENT COSTS
Portfolio management
7.
CHARITABLE ACTIVITIES COSTS
Direct
Grant
Costs (see
funding of
note 8)
activities
£
£
Providing financial assistance to league
members
14,693
59,154

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 2023

8. DIRECT COSTS OF CHARITABLE ACTIVITIES

DIRECT COSTS OF CHARITABLE ACTIVITIES
2023 2022
£ £
Christmas hampers for league members 14,693 15,448

9. SUPPORT COSTS

SUPPORT COSTS
Management
£
Other resources expended
-
Providing financial assistance to league
members
881
807		 Governance
Finance
costs
£
£
-
12,576
1,243
378
1,317
12,954		 Totals
£
12,576
2,502
15,078

10. AUDITORS' REMUNERATION

AUDITORS' REMUNERATION
2023 2022
£ £
Fees payable to the charity's auditors for the audit of the charity's financial
statements 10,554 9,282

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

During the year grants and reimbursed expenses totalling £10,855 were paid to 3 trustees (2022: £3,725).

Executive committee transactions

1 member of the executive committee was reimbursed for general postage and meeting costs totalling £62 (2022: 2 members reimbursed for £168).

2 members of the executive committee (2022: 2) received grants of £4,250 (2022: £2,905) inline with the charity's normal grant application procedures.

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 2023

12. STAFF COSTS

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

13. 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
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
£
-
-
-
-
-
-
-
-
-
-
-
-		 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

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 2023

14. TANGIBLE FIXED ASSETS

COST
At 1 January 2023 and 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for year
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
15.
FIXED ASSET INVESTMENTS
Shares
Other
Additional information as follows:
MARKET VALUE
At 1 January 2023
Additions
Disposals
Revaluations
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022		 2023
£
1,169,079
13,622
1,182,701		 Computer
equipment
£
744
233
186
419
325
511
2022
£
881,782
26,251
908,033
Listed
investments
£
881,782
740,926
(524,205)
70,576
1,169,079
1,169,079
881,782

There were no investment assets outside the UK.

The fixed asset investment is a portfolio managed by Coutts & Co, consisting of 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.

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 2023

15. FIXED ASSET INVESTMENTS - continued

Investments (neither listed nor unlisted) were as follows:

Cash held for investment
16.
STOCKS
Stocks
17.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
Prepayments
18.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
19.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.23
£
1,188,495
1,188,495		 2023
£
13,622
2023
£
4,212
2023
£
3,103
-
3,103
2023
£
9,600
Net
movement
in funds
£
46,263
46,263		 2022
£
26,251
2022
£
-
2022
£
-
4,925
4,925
2022
£
9,222
At
31.12.23
£
1,234,758		 2022
£
26,251		 2022
£
26,251
2022
£
-
2022
£
-
4,925
4,925
2022
£
9,222
1,234,758

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 2023

19. MOVEMENT IN FUNDS - continued

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 71,205 (95,518) 70,576 46,263
TOTAL FUNDS 71,205 (95,518) 70,576 46,263

Comparatives for movement in funds

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.22
£
1,082,807
1,082,807		 Net
movement
in funds
£
105,688
105,688		 At
31.12.22
£
1,188,495
1,188,495

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

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
339,908
339,908		 Resources
expended
£
(103,578)
(103,578)		 Gains and
Movement
losses
in funds
£
£
(130,642)
105,688
(130,642)
105,688

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

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.22
£
1,082,807
1,082,807		 Net
movement
in funds
£
151,951
151,951		 At
31.12.23
£
1,234,758
1,234,758

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 2023

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined 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 411,113 (199,096) (60,066) 151,951
TOTAL FUNDS 411,113 (199,096) (60,066) 151,951

20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

Page 19

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 2023
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Sales
Investment income
Income from fixed asset investments
Deposit account interest
Total incoming resources
EXPENDITURE
Other trading activities
Purchases
Closing stock
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
Carried forward		 2023
£
39,012
1,142
40,154
29,972
1,079
31,051
71,205
4,925
(4,212)
713
5,880
14,693
-
59,154
73,847
772
35
807
609
609		 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
1,230

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 2023

Finance
Brought forward
Bank charges
Computer equipment
Governance costs
Auditors' remuneration
Legal fees
Total resources expended
Net (expenditure)/income before gains and
losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments
Net income		 2023
£
609
522
186
1,317
10,554
2,400
12,954
95,518
(24,313)
70,576
46,263		 2022
£
1,230
387
186
1,803
9,282
-
9,282
103,578
236,330
(130,642)
105,688

This page does not form part of the statutory financial statements

Page 21

Virtual Cabinet Portal Digital Signatures

Digital Signature Verification

You can verify that this is a genuine Virtual Cabinet Document Portal signed document by uploading it to the following secure web page:

https://www.virtualcabinetportal.com/VerifySignedDocument

Signature Dates and Times

All dates and times shown in the signatures below are expressed in Coordinated Universal Time (UTC), which is generally equivalent to GMT. You can find out more about UTC at the following web page:

http://www.virtualcabinetportal.com/WhatIsUTC

Signature 1

Signed by Cath Comley using authentication code d08zKUtQS0JQVXVk at IP address 86.144.245.65, on 2024/06/20 15:28:22 Z.

Cath Comley's e-mail address is: c.comley@hotmail.co.uk.

Signature 2

Signed by James Knights using authentication code YklMbCUkWGp8RFhF at IP address 20.117.102.58, on 2024/06/27 08:16:20 Z.

James Knights's e-mail address is: james@knightslowe.co.uk.

James Knights added the following comments:

"Audit Report Signed"