**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 - 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. 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'. - In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 December 2024 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** 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: - 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 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: - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the charity through discussions with the trustees and other management, and from our knowledge and experience of the charity's operating sector; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining 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; - assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; - investigated the rationale behind significant or unusual transactions; 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': - 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** All income is recognised in the Statement of Financial Activities once all of the following criteria have 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 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. - 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 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** 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 86.170.125.58, 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"