friends of University College London Hospitals reg. charity no. 266669 Annual Report and Accounts for the year ended 31 March 2022 Contents l. Legal and administrative information 2. Structure, governance and management 3. Objects and activities 4. Achievements, performance and plans 5. Financial review 6. Statement of Trustees, responsibilities 7. Independent examinerfs report 8. Statement of financial activities 9. Balance sheet l O. Notes to the financial statement5 funding extras for patients and staff l. Legal and administrative information Name ofthe Charity The full name of the charity is the Friends of University College London Hospitals I'thefriends'l. The charity is registered with the Charity Commission for England and Wales, registration number 266669. Trustees and Officers During the year, Gillian Vaughan Hudson was President of the friends, Diana Scarrott w85 Chair and Mike Shipley was Honorary Treasurer. The Trustees holding office during the year were.. Jo Bakris ffre3surer elect) Leslie Brantingham Katie Ginger Maggie Gormley (until November 20211 Peter Harries Tom Hughes, Vice Chair (until March 20221 Ros Jacobs Vice Chair Diana Scarrott, Chair Mike Shipley, HonoraryTre3surer (until July 20221 John Sparrowhawk Angela Wedgwood The Tfusrees report with gre3t S3dness thai Tom Hughes, a trustee since 2016, died in March 2022 and that Mike Shipley, a trustee since 2012, died in July 2022 Both were active trustee5 to the end and their contribution to thefriends was enormou5. Office The Charity's office is on the 21d floor, Maple House, 149 Tottenham Court Road, London Wl P 9LL. The address for correspondence is Friends of UCLH, c/0 UCLH Charity, Y, Floor East, 250 Eusion Road, London NWI 2PG. Advisors The Charity's bankers are Coulls and Co, 440 Strand, London WC2R OQS. The Independent Ex3miner is Geoffrey Frost BSC (Honsl FCA, Blue Spire Limited, Cawley Priory, South Pallant, Chichester, West Sussex POI 9 15Y. The Charity's Investment advisor is Tim Lavis, working with.. CCLA Investment Management Limited, Senator House, 85 Queen Victoria Street, London EC4V Schroders Invesimenis Limiied, 31 Gresham Sireei. London EX2V 7QA Black Rock Fund Managers Limited,12 Thr(umorton Avenue, London EC2N 2D M&G Securities Limited, 10 Fenchurch Avenue, London EC3M SAG. 2. Structure, governance and management The charity is an unincorporated associaiiorb of members governed by a constitution firsi approved by the Charity Commission on 19 November1973 and most recently amended and adopted on I I November 2013. The possibility of becoming a charitable incorporated org3nis3tion is being investigated but this work has been delayed by the pandemic. Decisions are made by the Trustees acting in commiiiee. New trusiees 3re proposed by the Commirree of Trustees and elected by the Members al an Annual General Meeting. Additional Trustees may be cckopted by the Commirree of Trustees at any time. The friends, financial activities are administered on behalf of the Trustees by the accounting staff of University College London Hospita15 Charity (charity registration number11653981 The Trustees remain very giaieful 10 UCLH Charity for this help, especi311y since 2020 when rhe friends were especially active because of the Covid 19 pandemic. The friends are also indebted to UCLH NHS Foundation Trust which provides office accommod3rion and IT supporr, and ro rhe Trust's voluntary services wiihoul whom some of our p3rienr suppori work would nor be possible. 3. Objects and activities With the aim of helping the hospitals, Iheir paiienrs 3nd staff, by providing faciliiies and ameniries which are noi available from rhe National Healih Service, the objecrs of Ihe friends as ser our in irs constitution, are to 'relieve patienf5, formerpatient5, 5t3ff and former5faff of the h05Pltols Wlthin the UCLA NHS Foundation Tru5f and other person5 in the community who are sick, convole5cent, disabled, handicapped, infirm 01 in need of financial 35515fance and, generally, to SUPPOrt the charitable work of rhe hospiralg. In pursuing Ihese objects, the Trusiees have regard ro rhe guidance of rhe Charity Commission on wblic tEnefir. The friends are registered wilh Ihe UCLH Trust's Chari13ble Funds Management Committee, as one of the Trust'S'3SSOC13red' charities. The friends invite requesis for grants from hospiral sraff at all levels and across 311 UCLH hospital sires. Gr3nts must fall wiihin the objects and powers of Ihefriends as specified in the consrifution. In practice, the only restriction 15 that grants are not given for individual staff or patient use, The friends would not, for example, give a grant to a staff member for attendance at a conference. Reliance on the imagination of staff has become one of the friends, key messages, so important that two prizes are awarded each year for imaginative grant application5. 4. Achievementsi performance and plans The friends, work during 2021-22 continued to be overshadovEd bythe Covid 19 pandemic The fast- track decision processes introduced in 2020 remained in use and Trustees continued to meet on Zoom, with a second Zoom AGM 3150 held. Many of the new working methods iniroduced 10 deal with the pandemic will be permanent. Speed of decision continues 10 be a priority. Improving communicarions is also imporranr, with rhe qu3rierly newsleiier launched in 2020 conrinuing to be produced. Altogether, l 01 grants were approved in 2021-221102 in 2021>21 l. The siaremeni of financial activifies Ipage 71 shows charirable activities ar £145,4711£132,849 in 202Ck21 I, a planned increase afier a reduction in 202fy21 when certain grants could not be progressed because of the pandemic. The Trustees are graieful 10 everyone who helped find opportunities for the friends 10 support rhe Trust during such difficult times. Although the friends sirapline is aboul funding exrras'for paiienrs and siaff,, some exir3s benefit both. This was especially the case in 2021-22, with almost two third5 of spending bringing general benefit because of two £30k donations to Trust refurbishment appeals, and a further £30k contribution to the Trust's arts 3nd heritage programme. Grants to benefit staff specifically accounted for a fifth of the **----- Start of picture text -----**
£180,000
£160,000
£140,000
£120,000
£100,000 Income
£80,000 Expenditure
£60,000
£40,000
£20,000
£0
2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22
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P a g e | **3** The Trugiees aim ro maintain a level of reserves sufficienr ro meet the charily's ongoing commitments, allowing for fluciuaiions in rhe reiurns Ihat these generaie. 2021-22 w35 rhe charify's second year wiihoul Staff and Iherefore without ongoing salary commiiments. The friends is now run eniirely by volunteers, apart from the financial management help provided by UCLH Charity. Thi5 increases the opportunity for ch3ritable spending and fuiiher spending in excess of income c3n be expecied. At 31 March 2022 the level of reserves wa5 £872,011. The statement of financial activities Shows charitable spending in 2021-22 accounting for 970h of total spending198% in 202￿211. A formal review of thefriends, investments is made once a year, overseen by the HonoraryTreasurer and the charity's independent advisor The balance sheet on page 8 shows that at 31 March 2022, £880,212 was held in invesrment funds and £109,160 in cash1£890,927 and £82,918 a year earlier). Credirors1£124,9761 represenr accrued grants awarded during the year, trade credirors and other accruals1£113,702 in 20211. The Trustees hold units in common invesimeni funds which meet two key requirefflenrs of the reserves policy outlined above.. provision of a regular income to supplement donation income, and protection of the capital value of the investments con515tent with policies on grant giving. 6. Statement of Trustees, responsibilities The law applicable to charities in England and Wales requires the Trustees to prepare financial siatemenis for each fin3ncial year which give a true and fair view of the siaie of affairs of the charity and of rhe incoming resources and application of resources of the charily for that period. In preparing these financial Statements, the Trustees are required tO'.'select 5Ultable accounting policie5 and then apply rhem con5isrenily,' observe rhe meihods and principles in rhe Charilies SORP,. make judgemenrs and e5timafe5 that are reasonable and prudent,. State whether applicable accounting 5t3nd3rd5 have been followed, subjeci 10 any material dep3rrures disclosed and exp13ined in the financial 51aremeni5,' prepare Ihe ffinancial srarements on rhe going concern basis unless it is inappropri31e 10 presume Ihai the charity will confinue in operation,. The Trusiees are responsible for keeping proper accounting records thai disclose wilh reasonable accuracy at any time the financial posltion of the charity and enable them to ensure that the financial $13temenis comply wilh the Ch3rities Act 2011, rhe Charity (Accountg and Reporisl Regulaiions 2008 and the provisions of the constitution. They are also responsible for safeguarding the asset5 of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other iriegu13riries. Approved by the Trustees on 23 and signed on their behalf by: D_f Chair 7. Independent examiner's report to the Trustees of the Friends of University College London Hospitals I report to the charity Trustees on my examination of the accounts of the charityfor the year ended 31 March 2022 which are set out on pages 7 to 14. Responsibilities and basis of report As the charity's Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the Act'l. I report in respect of my examination of the charity'5 accounts carried out under section 145 of the Act and in carrying out my examination I have followed 811 the applicable Directions given bythe Chaiity Commission under seciion 1451511bl of the Act. Independent examiner's statement I h3ve completed my examinaiion. I confirm thai no material m3tters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. l. accounting records were noi kept in respeci of the charity 3s required by section 130 of the Act., 2. the accounts do not accord with those records., or 3. the accounts do not comply with the applicable requiremenis concerning rhe form and contenr of the accounts set out in the Charities (Accounts and Reports) Regulation5 2008 other than any requirements Ih3t the accounts give a 'irue and fair view, which is not a matter considered as part of an inspection. I have no concerns and have corne across no other matters in connection with the examination to which attention should be drawn in this report in order fo enable a proper understanding of the accounis 10 be reached. 01 December 2021ieolf Frost BSC (Honsl FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex POI 9 ISY 8. Statement of financial activities for the year ended 31 March 2022 Note Unrestricted total funds 2021-22 Unrestricted total funds 2020-21 Income and endowments from.. Donations and legacies Investments Total 32,810 31,540 64,350 47,821 29,704 77,525 Expenditure on: Office cosis Promotion/fundraising Charitable acrivities Toial 2,088 1,842 145,471 149,401 1,962 585 132,849 135,396 Net income/lexpenditurel 185,0511 157,8711 Net gains/llosses1 on invesrmenis 89,285 155,529 Net income/lexpenditurel and movement in funds Reconciliation of funds.. Total funds brought forward at start of year 867,777 770,119 Total funds carried fotward at end of year 872,011 867,777 9. Balance sheet Nore Unrestricted total funds 31 Mar 2022 Unresiricted total funds 31 Mar 2021 Fixed assets Investments 880,212 890,927 Current assets Debtors Cash at bank and in hand Total current assets 7,615 109,160 116,775 7,634 82,918 90.552 Creditors.. amounts falling due within one ye3r 10 1124,9761 1113,7021 Net current assets 18,2011 123,1501 Net assets 872,011 867,777 Funds General funds 872,011 872,011 867,777 867,777 The notes numbered 1-1 I form part of these accounts. Approved by the Trustees ori 25 lot and signed on their behalf by= Chair ## **Notes to the financial statements** P a g e | **8** 1.5VAT The charity is not registered for VAT and is unable to recover VAT incurred. On this basis cosI5 are recorded inclusive of VAT within the SOFA. 1.6 Fixed asset investments Investment5 are recognised initially at fair value, which 15 normally the tran￿([1￿ price excluding trans3Clion costs. subsequently, they are me3sured ai fair v31ue with changes recognised in 'nei gainslllossesl on investments, in the SOFA where investments are publiclytraded, or their fair value can otherwise be measured reliably. 1.7 Debtors receivable and creditors payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price, Any105se5 arising from impairment are rec(uni5ed in expenditure. 1.8 Taxation The charity is considered to pass the iesis set out in sectiong 521 to 536 Income Tax Acr 2007 IITA 20071. As such, no income tax is payable on the ch8rity'5 activities. 1.9 Funds structure Unrestricted income funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity 3nd which h3ve not been designared for other purposes. Design3ted funds are a portion of unrestricLed funds set aside by theTrustees for a particular purpose and represent the investment assets of the charity. 1.1 O Going concern The financial statements have been prepared on a going concern basis as theTrustees believe that no maieri31 uncerrainties exist. TheTrusiees have considered the level of funds held and rhe expecred level of income and expenditure for 12 months from authorising these financial Statements. The budgeted income and expenditure ig sufficient with the level of reserves for the charity to coniinue as a going concern. 2. Voluntary income Unrestricred total funds 2021-22 Unrestricted total funds 2020-21 Donations and subscriprions Gr3nt from UCLH Charity Grant from Astor Foundation Donated professional services 10,344 15,000 5,000 2,466 32,810 20,475 20,000 5,000 2,346 47,821 Donated professional services are accountancy services provided by UCLH Charity. The equivalent amount is allocated to the'5UPPOrt' cost5, the costs of generating voluntary income - see note 4. 3. Investment income Unrestricted toral funds 2021-22 Unrestricted total funds 2021>21 Common investment funds within the UK Bank deposit income 31,526 14 31,540 29,630 74 29,704 4. Cost of generating voluntary income Spending on raising funds in the SOFA, £2,0881£1,962 in 2021>211 is based on the following apportionmenr. The residu31 amount is counied 3s 'charitable activity,. Together with grants of £142,838, charitable activity then totalled £145,471 in 2021-221£132,849 in 2021>211. Expenditure type 2021-22 Basis of apportionment total costs Cost of generating funds Residual Office costs Independent examiner 1,399 Split equally, other than specific items (AO Split equally, other than specific items 700 320 699 320 Insurance Don3ted accountancy 216 Split equally, other than specific item5 2,466 Allocared on time 4.721 108 960 2,088 108 1,506 2,6_33 5. Analysis of charitable expenditure Grant funded activity Support costs Unresrricted toial funds 2021-22 Unrestricted 10131 funds 202(>21 Improving environment Equipment for patient care Improving patienr experience Support for staff activities Equipment for staff use Grants written back 98,916 1,671 100,587 35,093 28,680 13,404 61,746 18,639 124,7131 132,849 7,765 38,919 10,306 113,0681 142,838 131 657 174 7,896 39,576 10,480 113,0681 145,471 2,633 6. Grants awarded during the year 2021-22 Number ofgrants 202(k21 Numberof grants Aggregate amount paid Aggregate amount paid Improving environment Equipment for patient care Improving paiieni experience Support for staff activities Equipmeni for staff use Grants writren back 98,916 34,534 28,223 13,191 60,764 18,342 124,7131 130,341 10 13 58 19 7,765 38,919 10,306 113,0681 142,838 80 101 102 The friends approved grants of £142,838 during the year, ranging in size from £60 10 £30,000. An analysis of grants appears in seciion 4 of rhe 3nnual report. All granrs were paid 10 UCLH NHS Foundarion Trust. 7. Staff costs and trustee remuneration No staff are currently employed I202(>21'. none). None of the ch3firy's trustees received remuner3tion. No Irusiees12020-21'. nonel were reimbursed expenses during the year under review. 8. Fixed asset investments 2021-22 2020-21 Markei value 31 start of ye3r Additions at cost Disposals at market value Net gain/llossl on rev31u31ion Market value at end of year 890,927 735,398 191,9131 81,198 880,212 155,529 890,927 Historic cost 582,146 633,912 All investments are held in the UK in common invesrment funds.. Market value at 31 March 2022 COIF Charities Invesrment Fund Income Units Schroder Charity Equity Fund Income Units Charishare Resiricied Common Invesrmeni Fund Income Shares COIF Charities Propety Fund Units COIF Global Equity Income Fund Income Units M&G Charifund Income Units 169,490 164,179 139,986 166,667 113,549 126,341 880,212 9. Debtors 2022 Total funds 2021 Total funds Prepayments and accrued income 7,615 7,634 7,615 7,634 l O. Creditors.. amount5 falling due within one year 2021-22 Total funds 2020-21 Total funds Trade creditors Other creditors Accruals 2,650 121,626 700 124,976 33.754 79,288 660 113,702 Other creditors consist of grants which have been approved but not yet spent. 1 l. Analysi5 of unrestricted funds Balance at 31 March 2021 Incoming resources Resources expended Transfer5 Gainsand losses Balance at 31 March 2022 General funds 867,777 867,777 64,350 64,350 1149,4011 1149,4011 89,285 89,285 872,011 872,011 The rrusrees previously design3ted investments for long-ierm income gener3tion. In 2020-21 if Was decided to undesign3te these funds.