``` 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 2025 ``` ``` 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 2025`** ||**`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 2025 ``` |**`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 2025`** ``` Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December 2025. ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended Practice applicableto charities preparing their accountsin accordancewith the FinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` The Charitywas establishedto provide financialassistanceto any member of the League of Nurses whatever their age, intimesofneed.Assistancecanalsobeprovidedtopresentorformermembersofthenursingstaffofthe Royal London Hospital. The fund is administered in a completely confidential manner. Contact is made through the president. ``` ## **`Public benefit`** ``` The Trusteeshavegivenconsiderationto the questionof the Charity'sstatuswithspecialregardto the benefitto the communitybeyondits own membership.They have referred to the guidelineson the CharityCommissionwebsite and are satisfied that both its activities and use of funds fully justify its charitable status. ``` ``` TheyhavealsogivendueregardtotheCharityCommissionGuidelineonpublicbenefitinformingtheobjectives 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. ``` ## **`ACHIEVEMENTS AND PERFORMANCE`** ## **`Charitable activities`** ``` The numberof members of the Leagueof Nursesreceivinggrantsremainedstable.The grantswere used for a variety of purposes including support for the rise in the cost of living, particularly in relation to heating and food costs. ``` ``` TheLeaguekeepsincontactwithitsmoreseniormembersbysendinghampersovertheChristmasholiday. This contact enables the President to offer assistance which members may not feel able to request themselves. ``` ## **`Fundraising activities`** ``` The charity does not carry out significant fundraising activities ``` ## **`FINANCIAL REVIEW`** ## **`Financial position`** ``` Reserves grew from £1,300,190 at 31 December 2024 to £1,325,731 at 31 December 2025. ``` ## **`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 2025`** ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Recruitment and appointment of new trustees`** ``` The President,Vice Presidentand HonoraryOfficers stand as trustees of the BenevolentCommittee. Two members are elected by the Executive Committee of the League of Nurses. ``` ``` The HonoraryOfficersare appointedfor threeyears,butmaystandfor re-electionby the ExecutiveCommittee. Vice Presidentsare electedby the ExecutiveCommitteefor life and automaticallybecome trusteesof the Benevolent Fund unless they resign from the Trusteeship. ``` ## **`Organisational structure`** ``` The RoyalLondonHospitalLeagueof NursesBenevolentFundis managedby the trusteeswho are responsiblefor the administration, management and day-to-day control of the Charity. ``` ## **`Risk management`** ``` Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate controls are in place to provide reasonable assurance against fraud and error. ``` ``` The trustees review the major operationalrisks which the charity faces and ensure that systems are in place to mitigate those risks. ``` ``` The trustees consultat any time considerednecessarywith the fund manager of the charityfor the specific purpose of assessing financial performance. ``` ## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES`** ``` The trusteesare responsiblefor preparingthe Reportof the Trusteesandthe financialstatementsin accordance with applicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAcceptedAccounting Practice) includingFinancialReportingStandard102"TheFinancialReportingStandardapplicableintheUKandRepublic of Ireland". ``` ``` Charitylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyear.Underthatlaw,the trustees haveelectedtopreparethefinancialstatementsinaccordancewithUnitedKingdomGenerallyAccepted Accounting Practice (United Kingdom Accounting Standards and applicable law). ``` ``` Under charitylaw the trustees must not approve the financialstatementsunless they are satisfied that they give a true and fair view of the state of affairs of the charityand of the incomingresources and applicationof resources, including theincomeandexpenditure,ofthecharityforthatperiod.Inpreparingthosefinancialstatements,thetrustees are required to ``` - `select suitable accounting policies and then apply them consistently;` - `observe the methods and principles in the Charities SORP;` - `make judgements and estimates that are reasonable and prudent;` - `prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.` ``` Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any timethefinancialpositionof thecharityandtoenablethemtoensurethatthefinancialstatementscomplywith the CharitiesAct2011andTheCharity(AccountsandReports)Regulations2008.Theyarealsoresponsible for safeguardingthe assets of the charityand hence for takingreasonablesteps for the preventionand detectionof 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 2025 ``` ``` Approved by order of the board of trustees on ............................................. and signed on its behalf by: ``` ``` ........................................................................ Catherine Comley - Trustee ``` ``` Page 4 ``` ## **`Report of the Independent Auditors to the Trustees of The Royal London Hospital League of Nurses Benevolent Fund`** ## **`Opinion`** ``` WehaveauditedthefinancialstatementsofTheRoyalLondonHospitalLeagueofNursesBenevolentFund (the 'charity')for the year ended 31 December 2025 which comprise the Statement of FinancialActivities,the Balance Sheet andnotestothefinancialstatements,includingasummaryofsignificantaccountingpolicies.Thefinancial reporting frameworkthathasbeenappliedintheirpreparationisapplicablelawandUnitedKingdomAccounting Standards (UnitedKingdomGenerallyAcceptedAccountingPractice),includingFinancialReportingStandard102'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. ``` ## `In our opinion the financial statements:` - `give a true and fair view of the state of the charity's affairs as at 31 December 2025 and of its incoming resources and application of resources, for the year then ended;` - `have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and` - `have been prepared in accordance with the requirements of the Charities Act 2011.` ## **`Basis for opinion`** ``` WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK))andapplicable law. OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfortheauditof the financialstatementssectionofourreport.Weareindependentofthecharityinaccordancewiththe ethical requirementsthatare relevantto our auditof the financialstatementsin the UK, includingthe FRC's Ethical Standard, andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeserequirements.Webelievethat the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ``` ## **`Conclusions relating to going concern`** ``` In auditingthe financialstatements,we have concludedthat the trustees'use of the going concern basis of accounting in the preparation of the financial statements is appropriate. ``` ``` Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingtoevents or conditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharity'sabilitytocontinueasa going concern for a period of at least twelve months from when the financial statements are authorised for issue. ``` ``` Our responsibilitiesand the responsibilitiesof the trusteeswith respectto going concernare describedin the relevant sections of this report. ``` ## **`Other information`** ``` Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisestheinformationincluded in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. ``` ``` Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttotheextent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. ``` ``` Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand, in doingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsor our knowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentifysuch material inconsistenciesor apparentmaterial misstatements,we are required to determine whether this gives rise to a material misstatementinthefinancialstatementsthemselves.If,basedontheworkwehaveperformed,weconclude that thereisamaterialmisstatementofthisotherinformation,wearerequiredtoreportthatfact.Wehavenothing to report in this regard. ``` ``` Page 5 ``` ## **`Report of the Independent Auditors to the Trustees of The Royal London Hospital League of Nurses Benevolent Fund`** ## **`Matters on which we are required to report by exception`** ``` We have nothingto report in respectof the followingmatterswhere the Charities(Accountsand Reports) Regulations 2008 requires us to report to you if, in our opinion: ``` - `the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or` - `sufficient accounting records have not been kept; or` - `the financial statements are not in agreement with the accounting records and returns; or` - - `we have not received all the information and explanations we require for our audit.` ## **`Responsibilities of trustees`** ``` As explainedmore fullyin the Statementof Trustees'Responsibilities,the trusteesare responsiblefor the preparation ofthefinancialstatementswhichgiveatrueandfairview,andforsuchinternalcontrolasthetrusteesdetermine is necessaryto enable the preparationof financialstatementsthat are free from materialmisstatement,whether due to fraud or error. ``` ``` Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilitytocontinueas a goingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasis of accountingunlessthetrusteeseitherintendtoliquidatethecharityortoceaseoperations,orhaveno realistic alternative but to do so. ``` ``` Page 6 ``` ## **`Report of the Independent Auditors to the Trustees of The Royal London Hospital League of Nurses Benevolent Fund`** ## **`Our responsibilities for the audit of the financial statements`** ``` We have been appointedas auditors under Section 144 of the Charities Act 2011 and report in accordancewith the Act and relevant regulations made or having effect thereunder. ``` ``` Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from material misstatement,whether due to fraud or error, and to issue a Report of the IndependentAuditorsthat includes ouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconducted in accordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarise from fraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpected to influence the economic decisions of users taken on the basis of these financial statements. ``` ``` The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ``` ``` Our approachto identifyingand assessing the risks of material misstatementin respect of irregularities,including fraud and non-compliance with laws and regulations, was as follows: ``` ``` -theengagementpartnerensuredthattheengagementteamcollectivelyhadtheappropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; ``` ``` -weidentifiedthelawsandregulationsapplicabletothecharitythroughdiscussionswiththetrusteesand other management, and from our knowledge and experience of the charity's operating sector; ``` ``` - we focusedonspecificlawsandregulationswhichwe consideredmayhaveadirectmaterialeffectonthe financial statementsortheoperationsofthecharity,includingtheCharitiesAct2011,taxationlegislation,data protection, anti-bribery, employment, environmental and health and safety legislation; ``` ``` -weassessedtheextentofcompliancewiththelawsandregulationsidentifiedabovethroughmakingenquiries of management and inspecting legal correspondence; and ``` ``` - identifiedlawsandregulationswere communicatedwithintheauditteamregularlyandtheteamremainedalert to instances of non-compliance throughout the audit. ``` ``` Weassessedthesusceptibilityofthecharity'sfinancialstatementstomaterialmisstatement,includingobtaining an understanding of how fraud might occur, by: ``` ``` - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; ``` ``` - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; ``` ``` To address the risk of fraud through management bias and override of controls, we: ``` ``` - performed analytical procedures to identify any unusual or unexpected relationships; ``` - `tested journal entries to identify unusual transactions;` ``` -assessedwhetherjudgementsandassumptionsmadeindeterminingtheaccountingestimateswereindicative of potential bias; ``` - `investigated the rationale behind significant or unusual transactions;` ``` Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial ReportingCouncil's website at www.frc.org.uk/auditorsresponsibilities.This descriptionforms 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 reportis made solelyto the charity'strustees,as a body,in accordancewith Part 4 of the Charities(Accounts and Reports)Regulations2008.Our auditwork has been undertakenso thatwe might stateto the charity'strustees those matterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.Tothefullest extent permittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharityandthe charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. ``` ``` Knights Lowe Limited Eldo House Kempson Way Suffolk Business Park Bury St Edmunds Suffolk IP32 7AR ``` ``` Date: ............................................. ``` ``` Page 8 ``` ## **`The Royal London Hospital League`** ## **`of Nurses Benevolent Fund The Royal London Hospital (Whitechapel) League of Nurses Benevolent Fund`** ## **`Statement of Financial Activities for the Year Ended 31 December 2025`** |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`3`
`Investment income`
`4`
**`Total`**
**`EXPENDITURE ON`**
**`Raising funds`**
`Other trading activities`
`Investment management costs`
`5`
**`Charitable activities`**
`6`
`Providing financial assistance to league members`
`Providing financial assistance to other entities`
`Other`
**`Total`**
`Net gains on investments`
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`fund`
`£`
**`713`**
**`26,912`**
**`27,625`**
**`315`**
**`7,041`**
**`7,356`**
**`75,738`**
**`10,513`**
**`12,812`**
**`106,419`**
**`93,821`**
**`15,027`**
**`1,300,190`**
**`1,315,217`**|`Restricted`
`fund`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**|**`2025`**
**`Total`**
**`funds`**
**`£`**
**`713`**
**`26,912`**
**`27,625`**
**`315`**
**`7,041`**
**`7,356`**
**`75,738`**
**`10,513`**
**`12,812`**
**`106,419`**
**`93,821`**
**`15,027`**
**`1,300,190`**
**`1,315,217`**|`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`| ``` 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 2025`** |`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`13`
`Investments`
`14`
**`CURRENT ASSETS`**
`Stocks`
`15`
`Cash at bank and in hand`
**`CREDITORS`**
`Amounts falling due within one year`
`16`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`17`
`Unrestricted funds`
**`TOTAL FUNDS`**|`Unrestricted`
`fund`
`£`
**`-`**
**`1,285,848`**
**`1,285,848`**
**`3,707`**
**`36,062`**
**`39,769`**
**`(10,400)`**
**`29,369`**
**`1,315,217`**
**`1,315,217`**|`Restricted`
`fund`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**|**`2025`**
**`Total`**
**`funds`**
**`£`**
**`-`**
**`1,285,848`**
**`1,285,848`**
**`3,707`**
**`36,062`**
**`39,769`**
**`(10,400)`**
**`29,369`**
**`1,315,217`**
**`1,315,217`**
**`1,315,217`**
**`1,315,217`**|`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`| |---|---|---|---|---| ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on ............................................. and were signed on its behalf by: ``` ``` ............................................. Catherine Comley - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 10 ``` ``` The Royal London Hospital League of Nurses Benevolent Fund The Royal London Hospital (Whitechapel) League of Nurses Benevolent Fund ``` ``` Notes to the Financial Statements for the Year Ended 31 December 2025 ``` ## **`1. GENERAL INFORMATION`** ``` These financialstatements cover the individualcharity; 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 financialstatementshave been prepared to give a 'true and fair' view and have departed from the Charities (AccountsandReports)Regulations2008onlytotheextentrequiredtoprovidea'trueandfairview'. This departurehasinvolvedfollowingtheAccountingandReportingbyCharities:Statementof Recommended PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard applicablein theUK andRepublicof Irelandissuedin October2019ratherthantheAccountingand 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`** ``` Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the CharitiesAct 2011. The financialstatementshave been preparedunder the historicalcost convention,with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ``` ## **`Financial reporting standard 102 - reduced disclosure exemptions`** ``` The charity has taken advantageof 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 2025`** ## **`2. ACCOUNTING POLICIES - continued`** ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement andtheamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccruals basis andhasbeenclassifiedunderheadingsthataggregateallcostrelatedto thecategory.Wherecostscannot be directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the use of resources. ``` ``` Grants offered subject to conditionswhich have not been met at the year end date are noted as a commitment but not accrued as expenditure. ``` ## **`Tangible fixed assets`** ``` Depreciationis providedat the followingannualratesin order to write off each assetover its estimated useful life. ``` ``` Computer equipment- Straight line over 4 years ``` ## **`Stocks`** ``` Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and slow moving items. ``` ## **`Cash at bank and in hand`** ``` Cash at bank and in hand includes cash and short term highly liquid investmentswith a short maturityfrom the date of acquisition or opening of the deposit or similar account. ``` ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ``` There are currently no restricted funds held in the charity. ``` ## **`Investment assets`** ``` Investmentsare initiallyrecognisedat their transactionvalue and subsequentlymeasured at their market value at the BalanceSheetdateusingthe closingquotedmarketprice.The Statementof FinancialActivities includes net gains or losses on revaluations and disposals throughout the year. ``` ``` continued... ``` ``` Page 12 ``` ``` of Nurses Benevolent Fund The Royal London Hospital (Whitechapel) ``` ## **`The Royal London Hospital League`** ## **`League of Nurses Benevolent Fund`** ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 December 2025`** ## **`3. DONATIONS AND LEGACIES`** |**`2025`**
**`£`**
`Donations`
**`470`**
`Sales`
**`243`**
**`713`**
**`INVESTMENT INCOME`**
**`2025`**
**`£`**
`Income from fixed asset investments`
**`26,505`**
`Deposit account interest`
**`407`**
**`26,912`**
**`INVESTMENT MANAGEMENT COSTS`**
**`2025`**
**`£`**
`Portfolio management`
**`7,041`**
**`CHARITABLE ACTIVITIES COSTS`**
`Direct`
`Grant`
`Support`
`Costs (see`
`funding of`
`costs (see`
`note 7)`
`activities`
`note 8)`
`£`
`£`
`£`
`Providing financial assistance to league`
`members`
**`17,748`**
**`56,998`**
**`992`**
`Providing financial assistance to other`
`entities`
**`-`**
**`10,513`**
**`-`**
**`17,748`**
**`67,511`**
**`992`**|`2024`
`£`
`10,532`
`580`| |---|---| ||`11,112`| ||`2024`
`£`
`32,237`
`582`| ||`32,819`| ||`2024`
`£`
`6,729`
`Totals`
`£`
**`75,738`**
**`10,513`**| ||**`86,251`**| ## **`4. INVESTMENT INCOME`** ## **`5. INVESTMENT MANAGEMENT COSTS`** ## **`6. CHARITABLE ACTIVITIES COSTS`** ``` 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 2025`** ## **`7. DIRECT COSTS OF CHARITABLE ACTIVITIES`** |**`2025`**
**`£`**
`Christmas hampers for league members`
**`17,748`**
**`SUPPORT COSTS`**
`Governance`
`Finance`
`costs`
`£`
`£`
`Other resources expended`
**`-`**
**`12,812`**
`Providing financial assistance to league`
`members`
**`992`**
**`-`**
**`992`**
**`12,812`**
**`AUDITORS' REMUNERATION`**
**`2025`**
**`£`**
`Fees payable to the charity's auditors for the audit of the charity's financial`
`statements`
**`10,220`**|`2024`
`£`
`16,610`| |---|---| ||`Totals`
`£`
**`12,812`**
**`992`**| ||**`13,804`**| ||`2024`
`£`
`10,080`| ## **`8. SUPPORT COSTS`** ## **`9. AUDITORS' REMUNERATION`** ## **`10. TRUSTEES' REMUNERATION AND BENEFITS`** ``` There were no trustees'remunerationor other benefitsfor the year ended 31 December 2025 nor for the year ended 31 December 2024. ``` ## **`Trustees' expenses`** ``` During the year no grants and reimbursed expenses were paid to trustees (2024: £NIL). ``` ## **`Executive committee transactions`** ``` 3membersoftheexecutivecommittee(2024:2)receivedgrantsof£7,355(2024:£4,784)inlinewith the charity's normal grant application procedures. ``` ## **`11. STAFF COSTS`** ``` The charity employed no staff in this or the prior year. ``` ``` continued... ``` ``` Page 14 ``` ## **`The Royal London Hospital League of Nurses Benevolent Fund The Royal London Hospital (Whitechapel) League of Nurses Benevolent Fund`** ## **`Notes to the Financial Statements - continued for the Year Ended 31 December 2025`** ## **`12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`Investment income`
**`Total`**
**`EXPENDITURE ON`**
**`Raising funds`**
`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`
`£`
`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`
`£`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`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`| ``` 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 2025`** ## **`13. TANGIBLE FIXED ASSETS`** |**`COST`**
`At 1 January 2025 and 31 December 2025`
**`DEPRECIATION`**
`At 1 January 2025`
`Charge for year`
`At 31 December 2025`
**`NET BOOK VALUE`**
`At 31 December 2025`
`At 31 December 2024`
**`FIXED ASSET INVESTMENTS`**
`Shares`
`Other`
`Additional information as follows:`
**`MARKET VALUE`**
`At 1 January 2025`
`Additions`
`Disposals`
`Revaluations`
`At 31 December 2025`
**`NET BOOK VALUE`**
`At 31 December 2025`
`At 31 December 2024`|**`2025`**
**`£`**
**`1,271,639`**
**`14,209`**
**`1,285,848`**|`Computer`
`equipment`
`£`
**`744`**
**`605`**
**`139`**
**`744`**
**`-`**
`139`
`2024`
`£`
`1,274,110`
`8,453`
`1,282,563`
`Listed`
`investments`
`£`
**`1,274,110`**
**`302,936`**
**`(399,228)`**
**`93,821`**
**`1,271,639`**
**`1,271,639`**
`1,274,110`| |---|---|---| ## **`14. FIXED ASSET INVESTMENTS`** ``` There were no investment assets outside the UK. ``` ``` ThefixedassetinvestmentisaportfoliomanagedbyCoutts&Co,consistingofequities,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 2025`** ## **`14. FIXED ASSET INVESTMENTS - continued`** ``` Investments (neither listed nor unlisted) were as follows: ``` |`Cash held for investment`
**`15.`**
**`STOCKS`**
`Stocks`
**`16.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other creditors`
**`17.`**
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.1.25`
`£`
**`1,300,190`**
**`1,300,190`**|**`2025`**
**`£`**
**`14,209`**
**`2025`**
**`£`**
**`3,707`**
**`2025`**
**`£`**
**`10,400`**
`Net`
`movement`
`in funds`
`£`
**`15,027`**
**`15,027`**|`2024`
`£`
`8,453`
`2024`
`£`
`4,022`
`2024`
`£`
`10,462`
`At`
`31.12.25`
`£`
**`1,315,217`**||`2024`
`£`
`8,453`| |---|---|---|---|---|---| |||||`2024`
`£`
`4,022`
`2024`
`£`
`10,462`|`2024`
`£`
`4,022`| ||||**`1,315,217`**||| ``` Net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
**`27,625`**
**`27,625`**|`Resources`
`expended`
`£`
**`(106,419)`**
**`(106,419)`**|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
**`93,821`**
**`15,027`**
**`93,821`**
**`15,027`**| |---|---|---|---| ``` 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 2025`** ## **`17. MOVEMENT IN FUNDS - continued`** ## **`Comparatives for movement in funds`** |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.1.24`
`£`
`1,234,758`
`1,234,758`|`Net`
`movement`
`in funds`
`£`
`65,432`
`65,432`|`At`
`31.12.24`
`£`
`1,300,190`| |---|---|---|---| ||||`1,300,190`| ``` Comparative 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`| |---|---|---|---| ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.1.24`
`£`
`1,234,758`
`1,234,758`|`Net`
`movement`
`in funds`
`£`
`80,459`
`80,459`|`At`
`31.12.25`
`£`
`1,315,217`| |---|---|---|---| ||||`1,315,217`| ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`71,556`
`71,556`|`Resources`
`expended`
`£`
`(189,272)`
`(189,272)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`198,175`
`80,459`
`198,175`
`80,459`| |---|---|---|---| ``` 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 2025 ``` ## **`18. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 31 December 2025. ``` ``` 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 2025 ``` |**`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`**
`Opening stock`
`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`
**`Finance`**
`Sundries`
`Bank charges`
`Computer equipment`|`2025`
`£`
**`470`**
**`243`**
**`713`**
**`26,505`**
**`407`**
**`26,912`**
**`27,625`**
**`4,022`**
**`(3,707)`**
**`315`**
**`7,041`**
**`17,748`**
**`10,513`**
**`56,998`**
**`85,259`**
**`-`**
**`327`**
**`526`**
**`139`**
**`992`**|`2024`
`£`
`10,532`
`580`
`11,112`
`32,237`
`582`
`32,819`
`43,931`
`4,212`
`(4,022)`
`190`
`6,729`
`16,610`
`-`
`45,499`
`62,109`
`364`
`746`
`521`
`186`
`1,453`| |---|---|---| ``` 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 2025`**
**`Finance`**
**`Governance costs`**
`Auditors' remuneration`
`Bookkeeping`
`Total resources expended`
**`Net expenditure before gains and losses`**
**`Realised recognised gains and losses`**
`Realised gains/(losses) on fixed asset`
`investments`
**`Net income`**|`2025`
`£`
**`10,220`**
**`2,592`**
**`12,812`**
**`106,419`**
**`(78,794)`**
**`93,821`**
**`15,027`**|`2024`
`£`
`10,080`
`1,928`
`12,008`
`82,853`
`(38,922)`
`104,354`
`65,432`| |---|---|---| ``` 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 aHdzWG5aMVlJWSkv at IP address 86.140.242.246, on 2026/06/23 11:32:56 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 2026/06/23 16:54:58 Z. James Knights's e-mail address is: james@knightslowe.co.uk. James Knights added the following comments: "Accountants Report Signed"