ISLES OF SCILLY MEDICAL LAUNCH TRUST ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2024
ISLES OF SCILLY MEDICAL LAUNCH TRUST ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2024 Contents Page Trustees, Annual Report Independent Examiner's Report Stalement of Financial Activities Balance Sheet Notes to the Accounts
ISLES OF SCILLY MEDICAL LAUNCH TRUST TRUSTEES. ANNUAL REPORT YEAR ENDED 31 MARCH 2024 Reference and administrative information Charity Commission registered number.. 265346 Address.. Health Centre St Mary's Isles of Scilly TR21 OHE Trustees: Mr C. Simmonds Mr D. Godfrey Professional advisors.. Bankers Barclays Bank plc, Leicester, LE87 2BB Independent examiners Francis Clark LLP, Lowin House, Tregolls Road, Truro, Cornwall Structure. Governance and Management Governing document: Trust deed dated 22 January 1973 The power of appointing new trustees is vested in the existing trustees, subject to certain restrictions set out in the trust deed. Investment powers" The trustees have absolute discretion over the choice of inveslments. Objectives and Activities Objects.. The trust was constituted for general charitable purposes and in particular for the furtherance of health and the relief of poverty, distress and sickness among the communily in the Isles of Scilly. In furtherance of these objects the trustees have the power to purchase or hire a motor launch to carry patients. medical supplies, doctors, dentists, nurses and other persons working for the health of the people of the Isles of Scilly. In planning our activities for the year we kept in mind Ihe Charity Commission's guidance on public benefit.
ISLES OF SCILLY MEDICAL LAUNCH TRUST TRUSTEES, ANNUAL REPORT (continued) YEAR ENDED 31 MARCH 2024 Achievements and Perfom7ance The Medical Launch Trust has steadily re]Ved on going local fundraising donations throughout the year 2023124, the Trust is looking to improve the amount of donations received. Scottish Widows investments remain the same until it is agreed to utilize the funds in th8 futura. The Medical Launch Trust is currently in the process of recruiting replacement trustees, this is in progress. Donations remain low, but the Trust hope to engage with the local communities to donate proceeds towards the Trust from various events held. Going Concern Due to SLfficient levels of reserves held, the Tnjstees ¢onsider the Charity to remain a going concem. Financial Review Reserves.. The reserves are held to cover any future deficil arising, in order lo enable the Trust to continu8 to provide boat transport within the Isles of Scilly and on occasion to the mainland. At 31 March 2024 reseNes st¢X)d at £73,490 and the trustees consider this level of reserves appropriate. Signed on behaK of the Trustees Trustee Date.. i¥ lJsC<ffi6&l knY+ (2)
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ISLES OF SCILLY MEDICAL LAUNCH TRUST I reportto the trustees on my examination ofthe accounts ofthe Isles of SGilly Medical Launch Trust for the year ended 31 March 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the Act,). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5llb} of the Act. Independent examiner's statement I have completed my examination. confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by section 130 of the Act., or 2. the accounts do not accord with those records., or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independenl examination. I have no concerns and have Gome across no other matters in conneGlion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Darren Perry ACA DChA CHARTERED ACCOUNTANT Dale.. 19/12124 FRANCIS CLARK LLP Lowin House Tregolls Road TRURO 13)
ISLES OF SCILLY MEDICAL LAUNCH TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024 2024 2023 Note Income and endowments from: Launch hire Donations & Legacies Interest receivable 16,148 7,665 1,797 16,813 3,397 658 Total 25,610 20,868 Expenditure on: Charitable activities Launch running expenses Independent examiner's fee 21.545 1,671 23,435 1.265 23.216 24,700 Net income l (deficit) 2,394 13,832) Net movement in funds 2,394 13,832) Fund balance brought forlvard at 1 April 2023 71,096 74,928 Fund balance carried forward at 31 March 2024 73,490 71,096 All funds in the current and previous year were unrestricted. 14)
ISLES OF SCILLY MEDICAL LAUNCH TRUST BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Current assets Debtors and prepayments Cash at bank and in hand 63 76,483 90 73,836 76,546 73,926 Current liabililies Creditors and accruals (3.056) (2,830) Net current assets Total assèts less current Ilabllltles 73,490 71,096 Funds Unrestricted 73,490 71,096 Approved by the board of trustees and signed on its behalf by: Trustee Date.. 1% tJÉcÉM8ÉI (51
ISLES OF SCILLY MEDICAL LAUNCH TRUST NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (al Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Stslemenl of Recommend Practice applicable lo 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) - {Charilies SORP {FRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Charities Act 2011. {bl Basis of preparation Isles of Scilly Medical Launch Trust meets the definition of a public benefit entity under FRS 102. Assets and liabililies are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. (cl Going Concern The trustees have considered all matters surrounding the Charity and its ability to continue as a going concern. The truslees consider that there are no malerial uncertainties aboul the Charity's ability to continue as a going concern. (dl Income and endowments Contributions and interest receivable are included in the Slalemenl of Financial Activities {SOFA) when receivable. Donations are included in the SOFA when the charity becomes entitled to the donation and any conditions for receipt are met. {el Expenditure and liabilities Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to Ihe expenditure. 16)
ISLES OF SCILLY MEDICAL LAUNCH TRUST NOTES TO THE ACCOUNTS {continued> YEAR ENDED 31 MARCH 2024 LAUNCH HIRE 2024 2023 Medical practitioners Community Healthcare Trust Others 8,004 8,004 140 8,004 8,004 805 16,148 16,813 DONATIONS & LEGACIES 2024 2023 Donations and legacies Gift Aid reclaim 7,703 (381 3,420 1231 7,665 3,397 CREDITORS 2024 2023 Accruals 3,056 2,830 3,056 2,830 RELATED PARTY TRANSACTIONS There are no related party transactions in the period requiring disclosure. No remuneration or expenses have been paid to any trustee or persons connected with them. (7)