1Y Registered charity number 263055 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 CONTENTS Pag• 1. Legal and Admlnlstratlve Detslls 2. Annual Report 3. Annual Accounts 4. Independent Examlnerfs report 5. Balanco Sha•t 6. Statement of Flnanclal Actlvltl•s 10 7-9. Notes to the Accounts 11 Pagelof8
Th• Frionds of Charing Cross Hospltal Registered office Charing Cross Hosprtal Fulham Palace Road London 8RF Raglstsrnd charlty number 263055 Trust••8 durlng the porfod Mr Vincenzo Martinelli Chair (appointed as 10r21) Mr Kavyesh VN8k (appointed 10r21) Ms Luisa Messina {appoint8d 7r22) Mr Daniel de 101011 (appointed 7r22) Mr Kelvin Kwok Treasurer (appointod 1Iy22. reSned 5r23) Ms Chadotte Rawley (resigned 5r23) Accountants Chades Osei, Bsc {Hons). MSC. ACEI, AFA ATA MCIP Flat 3 11 Rochdale Way Deptford London SE8 4LY Page2of8
Annual report 1 July 2022 to 30 June 2023 The financial ststements have been prepared in accordance with aCcOtij policies set out in notes to the aGGounts and comply Voryth the charity's goveming document. Charities Act 2011 aThJ the relevant veNon of the Statement of Recommended Prarli apIcable to Charities pr8paring their accounts in accordan ith the Financd Reporting Standard applicable in the UK arKI Republic of Ireland (FRS 102). Objectlves The objectives of The Friends of Charing Cross Hospital are: to provide funds f equipmerrt and support woiects, to b8fft the Hospital, the patients and the local communty., to increase pUtlC awareness of the n18 of pab'erts of Charing Cro88 Hosprtal to mobilise support and raise furKJs" to develop and maintain an active membership of the charity; to liaise and connect wlth other likfrminded organisats'ons and a180 voluntary Services., Governance and manag•mont The chair in a voluntary capacty oversees the staff and general operation ofthe charit$ work, assisted by the Treasurer and the Board of Trustees. There have been Changes in the Board of trustees and these are still orvJoing. Two trustees had been recruited and appointed in July 2022. in O(ober 2021, with the addition of a new Treasurer in October 2022. The total number of current trustees at the end of the reporting period was four. It is expected lo have a new trustee recruitment campaign in Spn'ng 2024 wtth appointrnents during Summer 2024. Trustees are recruited through word of mouth andlor rmtrNJ of the roles on SFeufic recruitment channels for third sector voluTrteers. arKI some have been known to one or more of the current trustees. The Chair and other Board members are tasked with intervithmng prospective trustees. If a¢cepted, the trustee may join the Board 8trawht awdy and ttw are Its fomMlly voted in at th8 AGM. Grant Appllcatlon8 The ¢harity invites grant applicatsons fr(m the fwital and l(Kal communrty for grants to purchase equipment and fund wojects Ihat Viill support and beneffit the patients, staff and local community. The trustees take into account the purpose and neffl of each application before agreeing to provKle the funds in line wrth the objectsves of the charity. During the year. we supplied the fdloing grants: Maggie's. Kevl¢k Jencks- West Lond 3,000 The grant has 8upsed the work of Iwo Ben8ffts Aa4isors. [YodIng a wide range of advic8 to people with cancer and their families incI11n9 how to apply for benefits they may be entttled to. manage household bills. find the most approwiate accommcrfjabon. ¢lothirKJ. food and so on. Page3of8
Intwact Stroke Supwi Strok8 is the nunber one cause of lowerni disats.lty in the UK Research has shown that post stroke depression and a lack of neural stimulation CAn 'stow or even arrest recov,. InterArt Stroke Support tackles these issues wrth a live. interactive reading service. An InterAct actorlread8r have visrted the 9 We stroke ward (occasionalty others as wdl) to three times a week for iwo hours pw visiL w(Kk with the patients on a one-tfr( basis. tailonng the readings and conversation. as much as Fwible, to the intsrests and comprehension levels of each pat. Totsl Grants for tho yoar Investment Pollcy The Chanty's reseprfes pollcy is to hold a minimum of £30k as reser. leh r3 sufficientto cover three years. worth of planned expenditure to ensure continued financial security and to provide for contingencies. Frfends of Charing Cro83 Hosprtal seeks to woduce the bast financial return within an acceptable level of risk. The investment objective is to generate a return of infiation plus 3% per annum over the long tem, 8ft8r expenses Friends of Charing Cross HOS1 adopts a total retum approach to investment. generating th8 income gain from dividends repinv8Sted plus caytsl gains or losses. Assets shoukl be readily available to meet unanticipaied casmlryw reqUYarnts. The Trustees wish to keep at least 75% of the assets in Investsr that can b8 real1 withln three morths. A minimum of Six month's ljjdgeted cashlkm should be kept in cash or near cash investments at all times. Divtdends received ¢)n investrnents will be rewinvested. Friends of Charing Cross Hosytsl expects to exist in perty and Irwesln should be managed to meet the investment obj'ective and ensure this sustainabilty. As a resulL FrierKls of Charing Cross Hosprtal can adopt a k)ng tem investment horizon. Friends of Charing Cross Hospital exrActs assets to be invetsj in line with its aims. It expe¢t$ Its investment manager{s) to incorporate Environmental, Socaal and Govemance (ESG) factors as part of their management of the invesbnents for Responsibbe InVeStr to be ingrained into their inveslment thinking. The Chanty does not want to invest dire( into akohol. tobacco or amwments. Friends of Charing Cross Hospital appoints profew'onal investmenl management finns to manage its assets (excluding th8 direct Iw)erty} on a dis¢r8bonal basis in line with rts investment policy. Hospltal Communlty S•rvlces Tho Frlends, Shop In November 2020. our charity shop space on the first floor ofthe HO$ts1 was handed over pemanently to Imperial Trust our staff mwnbw was transfwrèa over too. Pa8e4of8
On•sits activities We have retained our office Spa on-gte at the Ho¥wlal, whith has been partialty converted into charity thp viith limited a¢cess by the public. On a week. For the same reasons, we have been unatle to hold our usual book sales, Chrisknas fund-raising actNlties, funding for live music on the wards and our Christmas ward gfts. We hope to resume these in the near future. Donations and legacies We receive donations our Wele and social media links., also through Paypal Giving. Occasionally. recVe donatsons through Chanties Aid Foundation. We can accept annual member subs(XiPb'on paym8nts through Go Cardless. We receive money on an irregul¥ basis from legaaes and on&off donations from grateful patients and their famili8S. Looklng ahead Charities are being called upon more than ever to support their communiti'es. whilst at the same time facing unprecedented challenges for the future. Support for most vulnerable and isolated community members played an essential part in h8ly.ng people continue to 8ur4ive and access the help they needed. We were in thefortunats positi'on of being able to collaborate *ith other local charits'es to ensure the most vulnerable we given some muth needed support. Wth our Board being strengthened with new trustees in place. bn'nging fresh ideas arKJ new energy, wthin the overall path defined by the new strategic plan, we will strive to grow and contrnue to swve the howal patents, NHS staff and the local communty in Hammersmth Signed on behall ot the trustees on 28r3r24 VinCz0 Martinalli, Chair PaEe5of8
THE FRIENDS OF CHARING CROSS HOSPITAL Charlty number 283055 Accounts ft>r the year ended 30th June 2023 Fulham Palac• Road London W6 8RF Pa8e6of8
THE FRIENDS OF CHARING CROSS HOSPITAL ststement of Trustees, Responsibilitie6 For the year ended June 2023 The Charities Act requires the Board of Trustees to prepare finan(aal for each financial year which give a and fair view of the state of affairs of the dnty as at the end of the financial year and of the surplus or defiot of the thlty. In wepanng those financial ststements. th8 Board is requiréd to.. Select suitable accounting policies and then appty then consistenty. Make judgements and estimates that are reasonable and pnhjent: and Prepare the finanaal **8ments on the going concem ba$ unless rt is inappropriate to wesume that the charity will cont5nue in IrneSS. State whether applicatAe accounting standards and staternts of recommended practice have been followed, subj'ect to any material departures di%losed and explained in the financial statements. The Trustees are also responsible for mairrtainirvJ adequate a¢¢ounb'ng re¢d$ which disclose wlth reasonable accuracy at any time thé financial posthn of the chanty and which are sufficient to show and explain the charity's transacts'on and enaL4e thwn to ensure that the financial ststements comply with regulations made under the Chanties Act. They are also responsible for safeguarding the assets of the Charity and hence ta"ry reasonable sieps for the wevention arKI detection of fraud and other irregulants'es. The Trustees are also responsible for the content of the trustees, reFth, and the responsibility of the irKlependent examiner in relation to the trustee8' report is limrted to examining the report and ensuring that, on the face of the report, there are no inconsi6ten¢i88 with the figures disclosed In the financial statements. The accounts were approved by the trustees on 2PJ3r24. And signed on th'r ljehaff by: Vincenzo Martinéili, Ciiair Page7of8
INDEPENDENT EXAMINERS. REPORT ON THE FINANCIAL STATEMENTS TO THE TRUSTEES THE FRIENDS OF CHARING CR PAL I report on the financtal statements for the year ended 30 June 21Y23 set out on pages 9- 13. Tlys pOrt is made sOty to the Trustees of The Friends of Charing Cross Hospital, as a body. in accordance regulaticffls made ufKJer section 145 of the Chanties Act 201 and Charity SORP. My Work has been urKlwtaken so that I might stst8 to the Tntstees matters l am required to state to them I am Indeperthnt Examinerfs report and for no ottw purpose. To the fullest exlent permitted by law, I do not accept or assume responsibilty to anyone other than the Charty arKI Charity's trustees for my independent examination work, for this reporL or for the sL*ement have gNen below. Respectlve respon8lbllltle• of Trustees and Independent Examlner As diarty trustees, for the purposes of thanty Iw, are responsitAe th8 pr8paration of the financial statements. the Truste8s consider that an audit is not requir8d for this yèar under saction 144{2) of the Charities knt 201 {the Act) and that an independent examination si needed Having satisfied myself that ts Chartty is not subject to an alIt under company18w and is elwJible for independent examination. rt is my responsrbilrty to.. al 8xamine the accounts under section 145 of th8 2011 Act: b) follow the proc&lures laid in the genwal Dire¢Xions g'ven by the Charity Comrnissionws und section 14515){b) of the 2011 A¢i'. and c) state whether palicular matters have come to my att8nts"on. Baslg of Independent examlnorf$ Stat¢mt My examination was carried in accordance with the general Diredions given by the Charity Commission. An examination includes a review of the accountsng records kept by the Charty, and a comparison of the accounts Kwnted with those rerds. It also indudes consideration of any unusual items or di8cl¢)sures in the accounts and Seeking explan8b'¢N)s from you as Trustees conceming any such matters. The procedures undertaken do not prowde al the evidence that would be required in an audit, and consequently no wnion is given as to Ththether the accounts Fyesent a 'lrue and fair viebv, and the reports limrted to those matters set out in the fo11ng statenw Independent examlnerf8 •tatom In connectlon wlth my examlrbatlon. no matter has wne to my attention.. 1) which gives me ffjasonable cause to believe that in any material resped th• requirements a) to keep accounting records in accordance with Seth'on 130 of the Charities Act,. and b) to prepare accounts which accord the accounting records arKI corrply wsth the accounting requirements of the Chartties Act have not been met,. or 2) to which, in my oynion, attention should drawn in ordw to able a prow undwstanding of tho accounts to be reached. Chatle$ Osei, Bsc (Hons), MSC, ACIE. AFA, ATA. MIP& MCIPP Flat 3, 11 Rochdale Way DeFrtford London SE8 4LY Date Page8of8
THE FRIEND5 OF CHARING CROSS HosprrAL Rogl¥tsr•d Charlty No. 263055 ALAN ESHE AS AT 30 JUNE 202 2023 2022 Cash at Bank and in hand 290,175 275,011 Cr8drtors Amount du8 vAthinoOne Year (Xher Credltors 1h.S (3,000) 15,6281 Net AssetslLialiI 287,175 269,383 RM•rvo• General Funds 283,259 260,967 Restncted Funds.. 3,916 8,416 287,176 Mr Vincenzo Maitnelli Chalr The not page 11- 13 lo part of these Financial Statsments
THE FRIENDS OF CHARING CROSS HosprrAL Rogl•terod Charity No. 263055 TATEMENT OF FINANCIAL AcTlEs FOR THE YEAR ENDED 30 J NE20 2023 2022 Fund• Fund• Total Funds Total Fund• R••our¢o8 Arf•lng Incomé from CharItab Pthrflt 29,818 29,818 65,228 Total Incom• 29.818 29,818 65,228 Dlr•¢t Charltabh Exwndltur• 12,028 43,171 Total Exp•ndltur• 7.528 12.026 43,171 Ro•ourcM r•t•ln•d for furth•r u•• 22292 (4,5) 17,792 22,057 Trnn•f•r b•twMn Fund• Not Mov•m•nt In Fund• R•con¢lllatlon• (rf Fund• Brought forward 0110712022 260.£67 8,416 269,383 247,328 Carrl•d forward 3010612023 269,383 Page 10
THE FRIENDS OF CHARING CROSS HosprrAL Rggl8tOf•d Charfty N•x 263055 NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 20 1. Accounllng Pollcl•• Ba818 of Pr•p•ratlon. These accounts have teen prepared on an acLrual basis and Ilde inLx)me and expenditu as they are earned or incurred, rather than 8$ cash receNed or pa. RefeTh¢e to the-charities SORFY. refers lo the Chantes SORP IFRS 1021.. Accountmg and Reporb'ng by Charities.. Statemenl of ReLxmmended Practice applicable to charit$ preparing their accounts in accordance yth the Finanual ReF4)iting Standard applicable in the UK and Republic of aland. 2nd edit effective 1 JanLWy 2019, and in a(xordance with the Companies Act 21M. la. Incom• All income 1$ recgnised once the Charty has enljt1mfrnt to the income, rt B wobabla that tho ino)m& will bo rgceived, and the amount of income receivable can be measured reiw. Grants are included in the Ststement of ffinancial activitss a recepéabk basi$. The balance of income received for specific purposes tt not explended during the Fer is slThvn in the relevant fvnds on th? Balanca Sh881. Where Income is received in advance of entthffthl of receipL its recognition is deferred and included in creditors as deferred Orne. Where entillement (xrn before Income L8 recew, tho income18 occrued. Income tax recoverab in relatlon to don8tlons recelved ur#ler Grt AKI or deeds (rf covenant is re(wni8ed at the tsme of th? donaty'on. Income tax re(xNerabb in relatiw to in¥e8lmont Irome ks recryn•a al tlme the investrnent incom8 is revable. Ib. Exp•ndltur• Expenditure recognised once there is a legal or c45r1ructi oNlgakn to transfer ec*nomic tenefft to a third party, it is possible thal a transfer of econom will b& requY&l in setllement and the amount of the oblyation can measured rnliabty. Expenditure on chanlable actrvibe$ is incurred on directy undertaknng the xtivillos fvrther the Charitys objectives. as well as any associated SUPFQrt costs. All expendlture is indu8Ne of ifre(x)vernble VAT. Ic. Gov•rnmont grnnts Govemrnent grants are ¢dIted to the Statement of financial actsvilEs as the related exp8nditiJre Is incurred. Id. Fund a¢¢ounllng UnstriCted Funds are receivable or generated for ts oty'ects of the charity fvrther specthed purpose and are available as general furKts. Restricted Funds are subjected to restrKaions on their expj1bjre impowj by the donor. Designated Funds are unrestricted fvnds but earmarked by the trustees for particuLqr F4JfpM)ses. Pa9e 11
THE FRIENDS OF CHARING CROSS HOSPtFAL Rogl•t•r•d Charlty No. 263056 NOTES TO THE ACC UNT FOR THE YEAR ENDED O JUNE 2023 10. Taxatlon The CharSty is consKlered to pass the tests set out in Paragraph 1 schedu 6 of tthe Finance Act 2010 and therefore rt meets the definition of a ¢hartsble company for UK ltiOn tax PUTFrt)ses. Awdingly, the Charty is pjtenbalty exempt from taxation in resFecI of irthme or ca1 gains received hthIn categories covered by Chapter 3 Part 11 of the Corporatim Tax Act 2010 or SeciKn 256 of the Taxation of Chargeable Gains Act 1992, to the ex2tent that such income or gains are aPpld exdusNdy to charitabb puwes. If. D•btor• Trade and other dobtorn are rrngnised at the settkn amount PrepayTnents are valued at amount propald. lg. Q•h at bank and In hand Cash al bank and in hand indudes sh and short4emi htrJhly inv85trnents wtth a short matujty of three months or less from the date ol acqutsrtK)n ar openinjg of the det)gt or simdar account Ih. Llabllltl•• and provhk•M Llabiltties are recc#Jnlsed when tt Is an oblwakn at the balance SW date as a result ol a pa81 evth)(11 Is probable th8t a transfer of ecorKmic benefft wll be required in $6ttltrmenL and the amount of the setuemenl can be 88timatod reliably. Hence, Ued expen of£3.000 wuirrwj as at the finaThial year dats. Liabillties 8re recognised at the amount that the Charity ant'pateS rt wll pay to settle the debt or th8 amount it has received a$ advanced payments for the gc#)ds iy servKes it must Provisions are measured al the best ests'male of the aTh)unts required to settle the obligatA)n. Where the effect of Ihe ts'me Value of money is material, the prowsion is based on the present value of those amounts, discounted at the prewlax discount rate that refts the rth to the liabilrty Tho unwinding of the discount is recogni8ed in the Slatement of financial 8(Ar¥it as a financé c¥t 11. Flnanclal In•irumont• Th& Charity onW has fnanci81 assets and finanual liabilities of a kind that qualrfy as tosic financial instrument8. Basic financial instruments are initialty renised at tranwtion value arKI subseqwity MeaSud at their settkment value with the excception of bank loans thich *e measured ai amortised cost using the effective interest method. IJ. Crltlcal accountlng 08tlmats• and •rg•8 ol Judgenwrt Eslmat&s and judgem8nts are contTrnualty vduatsd and are bas&J historKal exswlence and other factors, including exFectatMYbS of future events that are beled to be reasonab under the rcUMStanc. The Chanty does not currenly have any swnificant )Unts9 ests"rnates or area5 ofiudgemenL Pagè 12
THE FRIENDS OF CHARING CROSS HosprrAL R•glstsr•d Charlty 263055 NO THE ACCOUNTS YEAR EN Total 2023 Total 2022 2 INCOME FROM CHARITABLE ACTivmES 2023 2023 Donations Goneral Gro$s Intere8t Legaci88 Shop Taklng8 Sub8CfiPtio 677 1.243 27,$00 192 677 1,243 27,500 192 4,849 60.000 377 29.818 3 DIRECTisuppofff COSTS OF CHARITABLE ACTMTIES Unrn•trktsd 2023 Total 2023 Total 2022 2023 Grants- Proia¢t èxpen• Shop Overh6adB Rynning costs Totsl 15.308 189 103 103 7,423 4 CASH AT BANK AND HAND 2023 2022 8u8ino86 In8tant148181 Bu8lne88 Bank Instant I3) Depo811 Account TFOCCHL GBCL TKG8P001TSYLN Lloyd BB In8tant 23029068 Treaswer8 k¢ount112871 Treasurers Account16447. SW) SwttI8h WirKIty4 75.989 80.158 10,101 10,033 28.491 18 87,387 2UX1,175 275,011 275011 O CREDITOR8: AMOUNTS FALUNG DUE VIITHIN ONE YEAR 2023 2022 148 Other creditors A¢cruod experM8 3,000 6 TRUSTEEES. REMUNERATION AND BENEFrrs Tre were no tru8tee'$ renmM or Lthr bfftffts for ts yw 30 2tr23 for th8 year enJ. TRUSTEES. BENEM There were M IrustO8s' expms pald ts the yw ended 30 kn 2023. 7 RELATED PARTY OISCLOSURES There wore Th) rela P8rty1ran8 for ts year 30 ju 2023. Page 13