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2024-12-31-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 2024

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 2024

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 2024

TRUSTEES Catherine Comley President
Gary Caughey Honorary Treasurer
Trudy Wood Vice President
Anne Gee Vice President (deceased 5.2.25)
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 2024

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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 £1,234,758 at 31 December 2023 to £1,300,050 at 31 December 2024.

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.

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 2024

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.

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 2024

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 2024 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 2024

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
Other
Total
Net gains on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
11,112
32,819
43,931
-
190
6,729
6,919
63,926
12,008
82,853
104,354
65,432
1,234,758
1,300,190		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2024
Total
funds
£
11,112
32,819
43,931
-
190
6,729
6,919
63,926
12,008
82,853
104,354
65,432
1,234,758
1,300,190		 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

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 2024

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
£
139
1,282,563
1,282,702
4,022
-
23,928
27,950
(10,462)
17,488
1,300,190
1,300,190		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-		 2024
Total
funds
£
139
1,282,563
1,282,702
4,022
-
23,928
27,950
(10,462)
17,488
1,300,190
1,300,190
1,300,190
1,300,190		 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

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 2024

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 2024

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.

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 2024

3. DONATIONS AND LEGACIES

2024
£
Donations
10,532
Sales
580
11,112
4.
INVESTMENT INCOME
2024
£
Income from fixed asset investments
32,237
Deposit account interest
582
32,819
5.
RAISING DONATIONS AND LEGACIES
2024
£
6.
INVESTMENT MANAGEMENT COSTS
2024
£
Portfolio management
6,729
7.
CHARITABLE ACTIVITIES COSTS
Direct
Grant
Support
Costs (see
funding of
costs (see
note 8)
activities
note 9)
£
£
£
Providing financial assistance to league
members
16,610
45,499
1,817		 2023
£
39,012
1,142
40,154
2023
£
29,972
1,079
31,051
2023
£
2023
£
5,880
Totals
£
63,926

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 2024

8. DIRECT COSTS OF CHARITABLE ACTIVITIES

2024
£
Christmas hampers for league members
16,610
SUPPORT COSTS
Governance
Management
Finance
costs
£
£
£
Other resources expended
-
-
12,008
Providing financial assistance to league
members
364
1,453
-
364
1,453
12,008
AUDITORS' REMUNERATION
2024
£
Fees payable to the charity's auditors for the audit of the charity's financial
statements
10,080		 2023
£
14,693
Totals
£
12,008
1,817
13,825
2023
£
10,554

9. SUPPORT COSTS

10. AUDITORS' REMUNERATION

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

During the year no grants and reimbursed expenses were paid to trustees (2023: £10,855).

Executive committee transactions

No members of the executive committee were reimbursed for general costs (2023: 1 member reimbursed for £62).

2 members of the executive committee (2023: 2) received grants of £4,784 (2023: £4,250) 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 2024

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
Raising donations and legacies
Other trading activities
Investment management costs
Charitable activities
Providing financial assistance to league
members
Other
Total
Net gains 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
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 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

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 2024

14. TANGIBLE FIXED ASSETS

COST
At 1 January 2024 and 31 December 2024
DEPRECIATION
At 1 January 2024
Charge for year
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
15.
FIXED ASSET INVESTMENTS
Shares
Other
Additional information as follows:
MARKET VALUE
At 1 January 2024
Additions
Disposals
Revaluations
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023		 2024
£
1,274,110
8,453
1,282,563		 Computer
equipment
£
744
419
186
605
139
325
2023
£
1,169,079
13,622
1,182,701
Listed
investments
£
1,169,079
990,299
(989,622)
104,354
1,274,110
1,274,110
1,169,079

There were no investment assets outside the UK.

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 2024

15. FIXED ASSET INVESTMENTS - continued

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.

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
18.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
19.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.24
£
1,234,758
1,234,758		 2024
£
8,453
2024
£
4,022
2024
£
-
2024
£
10,462
Net
movement
in funds
£
65,432
65,432		 2023
£
13,622
2023
£
4,212
2023
£
3,103
2023
£
9,600
At
31.12.24
£
1,300,190
1,300,190

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 2024

19. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
43,931
43,931		 Resources
expended
£
(82,853)
(82,853)		 Gains and
Movement
losses
in funds
£
£
104,354
65,432
104,354
65,432

Comparatives for movement in funds

At 1.1.23
£
Unrestricted funds
General fund
1,188,495
TOTAL FUNDS
1,188,495
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
71,205
(95,518)
TOTAL FUNDS
71,205
(95,518)		 Net
movement
in funds
£
46,263
46,263
Gains and
losses
£
70,576
70,576		 At
31.12.23
£
1,234,758
1,234,758
Movement
in funds
£
46,263
46,263

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 2024

19. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
TOTAL FUNDS		 At 1.1.23
£
1,188,495
1,188,495		 Net
movement
in funds
£
111,695
111,695		 At
31.12.24
£
1,300,190
1,300,190

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
115,136
115,136		 Resources
expended
£
(178,371)
(178,371)		 Gains and
Movement
losses
in funds
£
£
174,930
111,695
174,930
111,695

20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2024.

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 2024
2024 2023
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 10,532 39,012
Sales 580 1,142
Investment income 11,112 40,154
Income from fixed asset investments 32,237 29,972
Deposit account interest 582 1,079
32,819 31,051
Total incoming resources 43,931 71,205
EXPENDITURE
Other trading activities
Opening stock 4,212 -
Purchases - 4,925
Closing stock (4,022) (4,212)
Investment management costs 190 713
Portfolio management 6,729 5,880
Charitable activities
Christmas hampers for league members 16,610 14,693
Grants to individuals 45,499 59,154
Support costs 62,109 73,847
Management
Postage and stationery 364 772
Travel and catering - 35
364 807

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

Detailed Statement of Financial Activities
for the Year Ended 31 December 2024
2024 2023
£ £
Management
Finance
Sundries 746 609
Bank charges 521 522
Computer equipment 186 186
Governance costs 1,453 1,317
Auditors' remuneration 10,080 10,554
Bookkeeping 1,928 -
Legal fees - 2,400
12,008 12,954
Total resources expended 82,853 95,518
Net expenditure before gains and losses (38,922) (24,313)
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments 104,354 70,576
Net income 65,432 46,263

This page does not form part of the statutory financial statements

Page 21

Virtual Cabinet Portal Digital Signatures

Digital Signature Verification

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https://www.virtualcabinetportal.com/VerifySignedDocument

Signature Dates and Times

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Signature 1

Signed by Cath Comley using authentication code d08zKUtQS0JQVXVk at IP address 86.170.125.58, on 2025/05/31 10:30:07 Z.

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

Signature 2

Signed by James Knights using authentication code bnI3NmnCo1hGeER1Vg== at IP address 94.228.44.8, on 2025/06/02 09:08:33 Z.

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

James Knights added the following comments:

"Audit Report Signed"