**REGISTERED CHARITY NUMBER: 269602**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FOR**
**THE FRIENDS OF BARNET HOSPITAL**
**THE FRIENDS OF BARNET HOSPITAL**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Cash Flow Statement**||7||
|**Notes to the Cash Flow Statement**||8||
|**Notes to the Financial Statements**|9|to|16|
|**Detailed Statement of Financial Activities**|17|to|18|
**THE FRIENDS OF BARNET HOSPITAL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. 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), the Charities Act 2011 and the Charities (Accounts Reports) Regulations 2008.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The object of the Charity is to support the work of Barnet Hospital. The aim is to purchase requested equipment and comfort items for patients and staff. The Charity raises funds and runs a hospital shop in support of the hospital. There have been no changes to the aims, objectives or strategy in 2022.
## **Significant activities**
During the year, hospital staff were still dealing with the effects of Covid 19 and therefore did not have the time to make requests for equipment provided by the Charity, hence the low level of spending referred to in this report.
The Charity has Unrestricted Funds that are split into a General Fund and a Shop Fund.The surplus generated from the shop is allocated to the Shop Fund. A transfer is then made from this fund to the General Fund. The hospital shop has provided funds for the Charity's General Funds of £200,000 (2021: £70,000).
Throughout the year, the Hospital Radio Barnet continued to be run on automation and ceased operation in 2023.
## **Social investments**
The Trustees have given due consideration to the Charity Commissions' published guidance on the operation of the public benefit requirement. The Trustees consider the public benefit provided to be the supply at no charge to Barnet Hospital of equipment, facilities, comfort items, and convenience shop.
## **Volunteers**
The Charity had 25 volunteers available per month in the Hospital Shop.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Charity continued to be able to meet its objectives by continuing to support the work of Barnet Hospital. It was able to purchase new medical equipment for the hospital totalling £2,700 in 2022 (2021: £27,196). During the year to 31 December 2023, the Charity was able to fund more facilities and equipment for Barnet Hospital.
## **Investment performance**
The Charity only receives investment income from interest on cash deposits. The interest receivable increased due to the improved rates of interest paid on the deposits.
## **FINANCIAL REVIEW**
## **Financial position**
Income from the shop amounted to £846,461 (2021: £669,752) and its expenditure was £713,881 (2021: £563,740) resulting in a net shop surplus of £132,580 (2021: £106,012). In addition, the charity received legacies, donations and investment income totalling £9,483 (2021: £11,477) and funded requests for medical equipment and Barnet Hospital radio amounting to £2,700 (2021: £28,043). There were support costs of £5,000 (2021: £4,550) and overall, the charity made a surplus of £134,363 (2021: £84,896) and the trustees were pleased with this result.
The total reserves as at the year end were £708,368 (2021: £574,005). The trustees acknowledge that these are substantial and are pleased that they will be able to supply the hospital with medical equipment and staff facilities when requests are made.The trustees are actively seeking ways to support Barnet Hospital.
## **Principal funding sources**
The Charity's incoming resources are substantially generated from the hospital shop.
Page 1
**THE FRIENDS OF BARNET HOSPITAL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FINANCIAL REVIEW**
## **Reserves policy**
The Trustees have examined the requirement for free reserves, which are those not invested in fixed assets, designated for specific purposes or otherwise committed. They consider that it is desirable to maintain this at a minimum level of £50,000 for the general fund and £50,000 for the shop fund, to earn interest and allow for future hospital expenditure, maintaining sufficient working capital for the shop and the running costs of the Charity. At 31 December 2022, the free reserves of the general fund and shop fund were £656,000 (2021: £456,033) and £50,863 (2021: £116,418) respectively.
## **FUTURE PLANS**
The Charity plans to continue to supply hospital equipment and comfort items for the staff and patients of Barnet Hospital which is requested by their representatives.
The Charity will continue to operate the hospital shop for the foreseeable future in order to generate funds to help meet the above objectives.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Charity is controlled by its governing document, "Object and Rules" adopted in 1953 and subsequently amended in 1954, 1956, 1957, 1976, 1995, 2000, 2005, 2010 and 2020. The Charity is registered in England and is constituted as an unincorporated association.
## **Recruitment, appointment, induction and training of new trustees**
Candidates are selected if they are already known to the Committee and have the expertise required to be a Trustee. The Trustee is recruited only after having had an interview with the Committee.
New trustees are provided with the documents relating to the constitution, objects and activities of the charity, together with current financial and other information relating to its operations. All trustees are expected to keep up-to-date with the requirements provided by the Charity Commission. Trustees are encouraged to be alert to issues that might affect the charity.
## **Organisational structure**
Under the provisions of the governing document the Charity is managed by a Committee which currently consists of seven members including the three Trustees, all of whom are members. Approximately one third of the Committee, being those that are the longest serving since last elected must retire at the conclusion of the annual general meeting. Retiring members of the Committee are available for re-election. The Chairman is elected at the first Committee meeting after the annual general meeting. The Committee also elects a Treasurer and Secretary from their number.
The Committee normally meet once a month.
Requests are made by hospital staff for equipment and comfort items in writing and they are invited to make a presentation to the Committee. Actions are taken only after a majority vote with the Chairman having the casting vote in the event of a tie.
The hospital shop is run by the shop manager and the day-to-day running of the shop is being carried out by four assistant managers, working on a rota basis.
The day-to-day administration of the Charity itself, including correspondence and enquiries, is dealt with by the Chairman, Robert Andrew Henderson.
## **Key management remuneration**
The Charity's key management personnel do not receive any remuneration.
## **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 consider the misappropriation of cash takings and stock from the hospital shop to be the major risk facing the Charity. The Trustees believe that the current controls that are in place minimise the risk of the Charity suffering any losses.
Page 2
**THE FRIENDS OF BARNET HOSPITAL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 269602
## **Principal address**
Barnet Hospital Shop Level 1 Barnet Hospital Wellhouse Lane Barnet EN5 3DJ
## **Trustees**
R A Henderson Chairman S Kelly Ms D S Gallagher
## **Independent Examiner**
Alfonso Del Basso FCCA, BA (Hons) Keelings Limited Chartered Tax Advisers and Chartered Certified Accountants Broad House 1 The Broadway Old Hatfield Hertfordshire AL9 5BG
## **Bankers**
HSBC 789 High Road North Finchley London N12 8JX
NatWest 120 High Street Barnet Herts EN5 5FF
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... R A Henderson - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FRIENDS OF BARNET HOSPITAL**
## **Independent examiner's report to the trustees of The Friends of Barnet Hospital**
I report to the charity trustees on my examination of the accounts of The Friends of Barnet Hospital (the Trust) for the year ended 31 December 2022.
## **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 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I 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:
1. 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 independent examination.
I have no concerns and have come across no other matters in connection 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.
Alfonso Del Basso FCCA, BA (Hons) The Association of Chartered Certified Accountants
Keelings Limited Chartered Tax Advisers and Chartered Certified Accountants Broad House 1 The Broadway Old Hatfield Hertfordshire AL9 5BG
Date: .............................................
Page 4
**THE FRIENDS OF BARNET HOSPITAL**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**2022**
**Unrestricted**
**funds**
Notes
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**2,349**
Other trading activities
3
**846,461**
Investment income
4
**7,134**
**Total**
**855,944**
**EXPENDITURE ON**
Raising funds
5
**713,881**
**Charitable activities**
6
Hospital equipment
**-**
Other hospital expenditure
**2,700**
Other
**5,000**
**Total**
**721,581**
**NET INCOME**
**134,363**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**574,005**
**TOTAL FUNDS CARRIED FORWARD**
**708,368**|2021
Total
funds
£
7,517
669,752
3,960|
|---|---|
||681,229|
||563,740
24,727
3,316
4,550|
||596,333|
||84,896
489,109|
||574,005|
The notes form part of these financial statements
Page 5
**THE FRIENDS OF BARNET HOSPITAL**
## **BALANCE SHEET 31 DECEMBER 2022**
|**2022**
**Unrestricted**
**funds**
Notes
**£**
**FIXED ASSETS**
Tangible assets
11
**1,505**
**CURRENT ASSETS**
Stocks
12
**20,179**
Debtors
13
**9,016**
Cash at bank and in hand
**705,605**
**734,800**
**CREDITORS**
Amounts falling due within one year
14
**(27,937)**
**NET CURRENT ASSETS**
**706,863**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**708,368**
**NET ASSETS**
**708,368**
**FUNDS**
15
Unrestricted funds
**708,368**
**TOTAL FUNDS**
**708,368**|2021
Total
funds
£
1,554
21,918
4,155
565,247
591,320
(18,869)
572,451
574,005
574,005
574,005
574,005|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. R A Henderson - Trustee
The notes form part of these financial statements
Page 6
**THE FRIENDS OF BARNET HOSPITAL**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash provided by investing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning**
**of the reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|**2022**
**£**
**134,284**
**134,284**
**(1,060)**
**7,134**
**6,074**
**140,358**
**565,247**
**705,605**|2021
£
75,268|
|---|---|---|
|||75,268|
|||-
3,960|
|||3,960|
||||
|||79,228
486,019|
|||565,247|
The notes form part of these financial statements
Page 7
**THE FRIENDS OF BARNET HOSPITAL**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**|
|---|---|---|---|
|||**2022**|2021|
|||**£**|£|
||**Net income for the reporting period (as per the Statement of Financial**|||
||**Activities)**|**134,363**|84,896|
||**Adjustments for:**|||
||Depreciation charges|**1,109**|897|
||Interest received|**(7,134)**|(3,960)|
||Decrease/(increase) in stocks|**1,739**|(4,305)|
||(Increase)/decrease in debtors|**(4,861)**|388|
||Increase/(decrease) in creditors|**9,068**|(2,648)|
||**Net cash provided by operations**|**134,284**|75,268|
**2. ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.1.22|Cash flow|**At 31.12.22**|
|---|---|---|---|
||£|£|**£**|
|**Net cash**||||
|Cash at bank and in hand|**565,247**|**140,358**|**705,605**|
||**565,247**|**140,358**|**705,605**|
|**Total**|**565,247**|**140,358**|**705,605**|
The notes form part of these financial statements
Page 8
**THE FRIENDS OF BARNET HOSPITAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. 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.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for at least the next twelve months. Consequently, they believe it is correct to adopt the going concern basis in preparing these financial statements.
The charity meets the definition of a public benefit entity as set out in the Charities SORP.
The presentation currency of the financial statements is the Pound Sterling (£).
## **Critical accounting judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires the trustees to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the trustees opinions, there are no significant judgements or key sources of estimation uncertainty.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds or the services have been provided, it is probable that the income will be received and the amount can be measured reliably.
## **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.
## **Raising funds**
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes, where relevant.
Fundraising costs are those incurred in seeking voluntary contributions in support of the charitable activities.
## **Charitable activities**
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Governance costs**
Governance costs include all costs associated with the compliance of the legal framework of the Charity, including independent examination and accountancy fees.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 20% on cost
The charity has a policy of capitalising tangible fixed assets purchases in excess of £500 at cost.
continued...
Page 9
**THE FRIENDS OF BARNET HOSPITAL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **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.
Further explanation of the nature and purpose of individual funds is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Donations and legacies**
Grants and legacies are accounted for as soon as the charity is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt is reasonably certain.
## **Financial instruments**
The charity's financial assets and liabilities all qualify as basic financial instruments that are initially recognised at transaction value.
Creditors are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of value to a third party and the amount payable can be measured or estimated reliably.
## **2. DONATIONS AND LEGACIES**
||**2022**|2021|
|---|---|---|
||**£**|£|
|Donations|**1,079**|569|
|Donations in memoriam|**-**|5,759|
|Legacies|**1,000**|-|
|Subscriptions|**-**|497|
|Collection boxes|**270**|692|
||**2,349**|7,517|
continued...
Page 10
## **THE FRIENDS OF BARNET HOSPITAL**
|**NOTES TO THE FINANCIAL STATEMENTS - continued**
**FOR THE YEAR ENDED 31 DECEMBER 2022**
**3.**
**OTHER TRADING ACTIVITIES**
Shop sales and commission
**4.**
**INVESTMENT INCOME**
Bank interest receivable
Employment allowance
**5.**
**RAISING FUNDS**
**Other trading activities**
Opening stock
Purchases
Closing stock
Staff costs
Insurance
Administration
Bank charges
Repairs, maintenance and IT
Sundries
Depreciation
**6.**
**CHARITABLE ACTIVITIES COSTS**
Hospital equipment
Hospital radio
Other hospital expenditure|**2022**
**£**
**846,461**
**2022**
**£**
**1,674**
**5,460**
**7,134**
**2022**
**£**
**21,918**
**597,198**
**(20,179)**
**84,045**
**725**
**1,718**
**20,995**
**3,221**
**3,131**
**1,109**
**713,881**
**2022**
**£**
**-**
**-**
**2,700**
**2,700**|2021
£
669,752
2021
£
108
3,852
3,960
2021
£
17,613
480,463
(21,918)
65,612
689
1,335
15,255
793
3,001
897
563,740
2021
£
24,728
846
2,469
28,043|
|---|---|---|
||||
continued...
Page 11
**THE FRIENDS OF BARNET HOSPITAL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
|**7.**
**SUPPORT COSTS**
Other resources expended - accountancy and independent examination
**8.**
**TRUSTEES' REMUNERATION AND BENEFITS**
No Trustee received remuneration or benefits during the year (2021: £nil).
**Trustees' expenses**
During the year, there were no expenses incurred by the Trustees (2021: £nil).
**9.**
**STAFF COSTS**
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Shop staff (part time)
No employees received emoluments in excess of £60,000.
**10.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Other trading activities
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Hospital equipment
Other hospital expenditure
Other
**Total**|**2022**
2021
**£**
£
**5,000**
4,550
**2022**
2021
**£**
£
**76,684**
60,809
**5,844**
3,852
**1,517**
951
**84,045**
65,612
**2022**
2021
**6**
6
Unrestricted
funds
£
7,517
669,752
3,960
681,229
563,740
24,727
3,316
4,550
596,333|
|---|---|
continued...
Page 12
**THE FRIENDS OF BARNET HOSPITAL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
|**10.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**||
|---|---|---|---|
||||Unrestricted|
||||funds|
||||£|
||**NET INCOME**||84,896|
||**RECONCILIATION OF FUNDS**|||
||Total funds brought forward||489,109|
||**TOTAL FUNDS CARRIED FORWARD**||574,005|
|**11.**|**TANGIBLE FIXED ASSETS**|||
||||Fixtures,|
||||fittings|
||||and|
||||equipment|
||||£|
||**COST**|||
||At 1 January 2022||**60,329**|
||Additions||**1,060**|
||At 31 December 2022||**61,389**|
||**DEPRECIATION**|||
||At 1 January 2022||**58,775**|
||Charge for year||**1,109**|
||At 31 December 2022||**59,884**|
||**NET BOOK VALUE**|||
||At 31 December 2022||**1,505**|
||At 31 December 2021||1,554|
|**12.**|**STOCKS**|||
|||**2022**|2021|
|||**£**|£|
||Stocks|**20,179**|21,918|
continued...
Page 13
**THE FRIENDS OF BARNET HOSPITAL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
|**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Taxation and social security
Other creditors
**15.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.1.22
in funds
£
£
**Unrestricted funds**
General fund
**456,033**
**(33)**
Shop Fund
**117,972**
**134,396**
**574,005**
**134,363**
**TOTAL FUNDS**
**574,005**
**134,363**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**3,608**
Shop Fund
**852,336**
**855,944**
**TOTAL FUNDS**
**855,944**|**2022**
2021
**£**
£
**9,016**
4,155
**2022**
2021
**£**
£
**13,124**
6,704
**8,415**
6,393
**6,398**
5,772
**27,937**
18,869
Transfers
between
At
funds
31.12.22
£
£
**200,000**
**656,000**
**(200,000)**
**52,368**
**-**
**708,368**
**-**
**708,368**
Resources
Movement
expended
in funds
£
£
**(3,641)**
**(33)**
**(717,940)**
**134,396**
**(721,581)**
**134,363**
**(721,581)**
**134,363**|
|---|---|
continued...
Page 14
**THE FRIENDS OF BARNET HOSPITAL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **15. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Shop Fund
**TOTAL FUNDS**|At 1.1.21
£
407,408
81,701
489,109
489,109|Net
movement
in funds
£
(21,375)
106,271
84,896
84,896|Transfers
between
funds
£
70,000
(70,000)
-
-|At
31.12.21
£
456,033
117,972|
|---|---|---|---|---|
|||||574,005|
|||||574,005|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Shop Fund
**TOTAL FUNDS**|Incoming
resources
£
7,616
673,613
681,229
681,229|Resources
Movement
expended
in funds
£
£
(28,991)
(21,375)
(567,342)
106,271
(596,333)
84,896
(596,333)
84,896|Resources
Movement
expended
in funds
£
£
(28,991)
(21,375)
(567,342)
106,271
(596,333)
84,896
(596,333)
84,896|
|---|---|---|---|
||||84,896|
||||84,896|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Shop Fund
**TOTAL FUNDS**|At 1.1.21
£
407,408
81,701
489,109
489,109|Net
movement
in funds
£
(21,408)
240,667
219,259
219,259|Transfers
between
funds
£
270,000
(270,000)
-
-|At
31.12.22
£
656,000
52,368|
|---|---|---|---|---|
|||||708,368|
|||||708,368|
continued...
Page 15
**THE FRIENDS OF BARNET HOSPITAL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **15. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|11,224|(32,632)|(21,408)|
|Shop Fund|1,525,949|(1,285,282)|240,667|
||1,537,173|(1,317,914)|219,259|
|**TOTAL FUNDS**|1,537,173|(1,317,914)|219,259|
## **Transfers between funds**
Transfers of £200,000 (2021: £70,000) were made from the shop fund to the general fund. The purpose of the shop fund is to generate income which enables the general fund to make charitable expenditure.
## **16. CONTINGENT LIABILITIES**
There has been correspondence between the Charity and HMRC regarding the use of built up reserves. It is expected that further requests will be made for hospital equipment to be provided. The impact of this will mean that the Charity's reserves will be expended. However, it is deemed appropriate to disclose the possibility of a Corporation Tax charge arising on shop income not yet spent.
## **17. OTHER FINANCIAL COMMITMENTS**
At the year end the Committee had given general approval for future expenditure of £19,415 (2021: £29,658) on equipment for Barnet Hospital.
## **18. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **19. GENERAL VOLUNTEERS**
The Charity has 25 (2021: 25) volunteers who work in the hospital shop.
Page 16
**THE FRIENDS OF BARNET HOSPITAL**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Donations in memoriam
Legacies
Subscriptions
Collection boxes
**Other trading activities**
Shop sales and commission
**Investment income**
Bank interest receivable
Employment allowance
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Opening stock
Purchases
Wages
Social security
Pensions
Insurance
Administration
Bank charges
Repairs, maintenance and IT
Sundries
Depreciation of fixtures, fittings and equipment
Closing stock
**Charitable activities**
Hospital Radio Barnet
Clocks for various wards
Supply and install equipment in Plaster Room
Ankle Brachial Index kits
Various items under £2,000|2022
£
**1,079**
**-**
**1,000**
**-**
**270**
**2,349**
**846,461**
**1,674**
**5,460**
**7,134**
**855,944**
**21,918**
**597,198**
**76,684**
**5,844**
**1,517**
**725**
**1,718**
**20,995**
**3,221**
**3,131**
**1,109**
**(20,179)**
**713,881**
**-**
**-**
**-**
**-**
**2,700**
**2,700**|2021
£
569
5,759
-
497
692
7,517
669,752
108
3,852
3,960
681,229
17,613
480,463
60,809
3,852
951
689
1,335
15,255
793
3,001
897
(21,918)
563,740
847
6,728
15,345
2,654
2,469
28,043|
|---|---|---|
This page does not form part of the statutory financial statements
Page 17
**THE FRIENDS OF BARNET HOSPITAL**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 DECEMBER 2022**|||
|---|---|---|
|**Support costs**
**Governance costs**
Accountancy
Total resources expended
**Net income**|2022
£
**5,000**
**721,581**
**134,363**|2021
£
4,550|
|||596,333|
|||84,896|
This page does not form part of the statutory financial statements
Page 18