REGISTERED CHARITY NUMBER: 298933
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
ISLE OF WIGHT DIABETIC FUND
Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ
ISLE OF WIGHT DIABETIC FUND
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
----- Start of picture text -----
Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 14
Detailed Statement of Financial Activities 15
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ISLE OF WIGHT DIABETIC FUND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31March2024. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicableto charitiespreparingtheir accountsin accordancewith the FinancialReportingStandardapplicablein the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objects of the charity
The relief and treatmentof persons suffering from diabetes and any other disease which is co-existentwith or related to
diabetes;
The promotionof publiceducationand researchinto the nature,causes,preventionand treatmentof diabetesand the
dissemination of the useful results of any such work;
Promotingthe healthand welfareof personssufferingfrom diabetesby the purchaseof equipmentor by the provision
of medical nursing or other staff or facilities necessary for the treatment or relief of diabetes; and
Promotingeducationinandtheincreaseofpublicknowledgeof,thenature,cause,preventionandtreatment of
diabetes by such means as are charitable as the trustees shall determine from time to time.
Review of the activities and future developments
The charity continued to pursue its general objectives during the year. No exceptional events occurred and the
trusteesare satisfiedwith the charity'sprogress.The charitywill continueto seek donations,sponsorshipand grants to
providesufficientresourcestofulfilitscharitableobjectivesandsupportthediabetespatientsupportgroup alongside
supporting educational training and development where considered necessary.
Public benefit
Alltheactivitiesofthecharityfocusondeliveringcommunitybenefitandareinaccordancewiththeobjectsof the
charity.ThetrusteeshavecompliedwiththeirdutytohavedueregardtotheCharityCommission'spublic benefit
guidance when exercising any powers or duties to which the guidance is relevant.
FINANCIAL REVIEW
Financial position
Incomingresourcesfortheyearamountedto£109,082,(2023-£22,266).Costsofcharitableactivitiesamounted to
£29,886(2023-£16,328)andunrealisedgainsoninvestmentsamountedto£152(2023-£30).Unrestricted and
restrictedfundscarriedforwardattheendoftheyearamountedto£768,282,(2023- £687,901)and£10,944(2023 -
£11,977) respectively.
Reserves policy
It is the policyof the charityto maintainunrestrictedfunds,whichare the free reservesof the charity,at a level which
equatesto approximatelysix months unrestrictedexpenditure.This providessufficientfunds to cover management and
administration and support costs.
Currently,thereisashortageofsuitableprojectsforthecharitytosupport.Consequentlythelevelofreserves has
exceeded the target set by the trustees. The trustees are actively searching for other worthwhile projects in the diabetes
field.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Organisational structure
Thecharityis managedbyitstrusteeswhomeetasoftenasis necessaryfortheadministrationandproperconduct of
the charity. New trustees may be appointed by the existing trustees.
Page 1
ISLE OF WIGHT DIABETIC FUND
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management
Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controls are in place to provide reasonable assurance against fraud and error.
It is the charity'spolicy not to borrow money but to work within the its existing funds in additionto ensuring that money
spentisinkeepingwiththeobjectivesofthecharity.Thecharityalsohastwoboardmemberscontrollingdayto day
affairs in addition to the chairman's role in signing larger sums.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
298933
Principal address
St Mary's Hospital
Newport
Isle of Wight
PO30 5TG
Trustees
Dr A K Baksi (resigned 13.3.24)
Mrs E Whittingstall
G Hall (resigned 13.3.24)
P St John Jacobs
R Newnham
Dr V Lawrence
Mrs M P Wilson
Mrs T E Porteous
Mrs S Stanley
T M Willey (appointed 13.3.24)
D Mitchell (appointed 13.3.24)
Independent Examiner
Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ
Approved by order of the board of trustees on 20 November 2024 and signed on its behalf by:
P St John Jacobs - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
ISLE OF WIGHT DIABETIC FUND
Independent examiner's report to the trustees of Isle of Wight Diabetic Fund
I report to the charitytrustees on my examinationof the accountsof Isle of Wight DiabeticFund (the Trust) for the year
ended 31 March 2024.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
I report in respect of my examinationof the Trust's accountscarried out under Section 145 of the Act and in carrying out
my examinationI have followed all applicableDirectionsgiven by the Charity Commission under Section 145(5)(b)of the
Act.
Independent examiner's statement
I have completedmy examination.I confirm that no material matters have come to my attentionin connectionwith 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
J Palmer
The Association of Chartered Certified Accountants
Bright Brown Limited
Chartered Accountants
Newport
Isle of Wight
19 December 2024
Page 3
ISLE OF WIGHT DIABETIC FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
88,095
Investment income
3
19,112
Total
107,207
EXPENDITURE ON
Charitable activities
4
Education and research into nature, cause etc of
diabetes, relief and treatment for people
suffering with diabetes
26,978
Net gains on investments
152
NET INCOME/(EXPENDITURE)
80,381
RECONCILIATION OF FUNDS
Total funds brought forward
687,901
TOTAL FUNDS CARRIED FORWARD
768,282 |
Restricted
funds
£
1,875
-
1,875
2,908
-
(1,033)
11,977
10,944 |
2024
Total
funds
£
89,970
19,112
109,082
29,886
152
79,348
699,878
779,226 |
2023
Total
funds
£
15,851
6,415 |
|
|
|
22,266 |
|
|
|
16,328 |
|
|
|
30 |
|
|
|
5,968
693,910 |
|
|
|
699,878 |
The notes form part of these financial statements
Page 4
ISLE OF WIGHT DIABETIC FUND
BALANCE SHEET 31 MARCH 2024
Notes
FIXED ASSETS
Tangible assets
9
Investments
10
CURRENT ASSETS
Debtors
11
Cash at bank
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
14
Unrestricted funds
Restricted funds
TOTAL FUNDS |
2024
£
13
404
417
15,755
764,434
780,189
(1,380)
778,809
779,226
779,226
768,282
10,944
779,226 |
2023
£
25
252 |
|
|
277
11,256
689,605 |
|
|
700,861
(1,260) |
|
|
699,601 |
|
|
699,878 |
|
|
699,878 |
|
|
687,901
11,977 |
|
|
699,878 |
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon20November2024 and
were signed on its behalf by:
P St John Jacobs - Trustee
T E Porteous - Trustee
The notes form part of these financial statements
Page 5
ISLE OF WIGHT DIABETIC FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1 January2019)', Financial
ReportingStandard102'TheFinancialReportingStandardapplicablein theUK andRepublicof Ireland'and the
CharitiesAct2011.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,with the
exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it
is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charityto that expenditure,it is probablethat a transferof economicbenefitswill be requiredin settlement and
the amount of the obligationcan be measured reliably. Expenditureis accountedfor on an accruals basis and has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimated useful
life.
Plant and machinery- 25% on cost
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 particularrestricted 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 each fund is included in the notes to the financial statements.
Donations under deeds of covenant
Donationsunder deeds of covenant,together with the associatedincome tax recovery, are recognised as income
when the donation is received.
Revaluation of quoted investments
Quoted investments are included at their fair value at the balance sheet date.
continued...
Page 6
ISLE OF WIGHT DIABETIC FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
2. DONATIONS AND LEGACIES
2024
£
Donations
17,899
Legacies
72,071
89,970
3.
INVESTMENT INCOME
2024
£
Interest received
19,112
4.
CHARITABLE ACTIVITIES COSTS
Direct
Support
Costs (see
costs (see
note 5)
note 6)
£
£
Education and research into nature,
cause etc of diabetes, relief and
treatment for people suffering with
diabetes
28,216
1,670
5.
DIRECT COSTS OF CHARITABLE ACTIVITIES
2024
£
Sundries
60
Nurse training
1,748
Conference expenses
1,160
Bank charges
72
Support diabetic patient group
20,630
Podiatry conference
2,333
Bookkeeping
2,200
Depreciation
13
28,216 |
2023
£
15,851
- |
|
15,851 |
|
2023
£
6,415 |
|
Totals
£
29,886 |
|
2023
£
-
-
3,582
78
8,950
585
1,800
13 |
|
15,008 |
continued...
Page 7
ISLE OF WIGHT DIABETIC FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
6. SUPPORT COSTS
----- Start of picture text -----
Governance
costs
£
Education and research into nature, cause
etc of diabetes, relief and treatment for
people suffering with diabetes 1,670
Support costs, included in the above, are as follows:
Governance costs
2024 2023
Education
and
research
into
nature,
cause etc
of
diabetes,
relief Total
and activities
£ £
Independent examiners' remuneration 1,670 1,320
----- End of picture text -----
7. TRUSTEES' REMUNERATION AND BENEFITS
The charity remunerated the following trustees for providing bookkeeping services:
Mrs E Whittingstall £1,000 (2023 - £1,000)
Mrs T Porteous £800 (2023 - £800)
Trustees' expenses
Duringtheyear,thecharityreimbursedthetrusteesexpensestotalling£4,330(2023-£1,023)incurred in
connection with the activities of the charity.
continued...
Page 8
ISLE OF WIGHT DIABETIC FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
12,350
Investment income
6,415
Total
18,765
EXPENDITURE ON
Charitable activities
Education and research into nature, cause etc
of diabetes, relief and treatment for people
suffering with diabetes
12,746
Net gains on investments
30
NET INCOME/(EXPENDITURE)
6,049
RECONCILIATION OF FUNDS
Total funds brought forward
681,852
TOTAL FUNDS CARRIED FORWARD
687,901 |
Restricted
funds
£
3,501
-
3,501
3,582
-
(81)
12,058
11,977 |
Total
funds
£
15,851
6,415 |
|
|
22,266 |
|
|
16,328 |
|
|
30 |
|
|
5,968
693,910 |
|
|
699,878 |
continued...
Page 9
ISLE OF WIGHT DIABETIC FUND
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
9. TANGIBLE FIXED ASSETS
Freehold
Plant and
property
machinery
£
£
COST
At 1 April 2023
162,400
2,880
Disposals
-
(424)
At 31 March 2024
162,400
2,456
DEPRECIATION
At 1 April 2023
162,400
2,855
Charge for year
-
12
Eliminated on disposal
-
(424)
At 31 March 2024
162,400
2,443
NET BOOK VALUE
At 31 March 2024
-
13
At 31 March 2023
-
25
10.
FIXED ASSET INVESTMENTS
Shares in
group
Listed
undertakings
investments
£
£
MARKET VALUE
At 1 April 2023
1
251
Revaluations
-
152
At 31 March 2024
1
403
NET BOOK VALUE
At 31 March 2024
1
403
At 31 March 2023
1
251 |
Totals
£
165,280
(424)
164,856
165,255
12
(424)
164,843
13
25
Totals
£
252
152
404
404
252 |
|
|
|
|
|
|
There were no investment assets outside the UK.
The historical cost of the fixed asset investments at the year end was £1 (2023 - £1).
continued...
Page 10
ISLE OF WIGHT DIABETIC FUND
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
13.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
funds
£
Fixed assets
13
Investments
404
Current assets
769,245
Current liabilities
(1,380)
768,282
14.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Practice nurse evening
Restricted funds
Nurse education
IOW diabetes and endocrinology
Peer counselling
Patient education
Website and newsletter
Diabetes centre
Foot service
TOTAL FUNDS |
Restricted
funds
£
-
-
10,944
-
10,944
At 1.4.23
£
684,743
3,158
687,901
6,143
1,463
433
1,242
1,386
1,210
100
11,977
699,878 |
2024
£
15,755
2024
£
1,380
2024
Total
funds
£
13
404
780,189
(1,380)
779,226
Net
movement
in funds
£
80,381
-
80,381
(1,748)
640
-
-
-
75
-
(1,033)
79,348 |
2023
£
11,256
2023
£
1,260
2023
Total
funds
£
25
252
700,861
(1,260)
699,878
At
31.3.24
£
765,124
3,158
768,282
4,395
2,103
433
1,242
1,386
1,285
100
10,944
779,226 |
2023
£
11,256 |
2023
£
11,256 |
|
|
|
|
|
2023
£
1,260 |
continued...
Page 11
ISLE OF WIGHT DIABETIC FUND
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Nurse education
IOW diabetes and endocrinology
Diabetes centre
TOTAL FUNDS |
Incoming
resources
£
107,207
-
1,800
75
1,875
109,082 |
Resources
expended
£
(26,978)
(1,748)
(1,160)
-
(2,908)
(29,886) |
Gains and
Movement
losses
in funds
£
£
152
80,381
-
(1,748)
-
640
-
75
-
(1,033)
152
79,348 |
|
|
|
|
Comparatives for movement in funds
Unrestricted funds
General fund
Practice nurse evening
Restricted funds
Nurse education
IOW diabetes and endocrinology
Peer counselling
Patient education
Website and newsletter
Diabetes centre
Foot service
TOTAL FUNDS |
At 1.4.22
£
678,694
3,158
681,852
3,843
3,844
433
1,242
1,386
1,210
100
12,058
693,910 |
Net
movement
in funds
£
6,049
-
6,049
2,300
(2,381)
-
-
-
-
-
(81)
5,968 |
At
31.3.23
£
684,743
3,158 |
|
|
|
687,901
6,143
1,463
433
1,242
1,386
1,210
100 |
|
|
|
11,977 |
|
|
|
699,878 |
continued...
Page 12
ISLE OF WIGHT DIABETIC FUND
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
14. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Gains and |
Gains and |
Movement |
|
resources |
expended |
losses |
|
in funds |
|
£ |
£ |
£ |
|
£ |
Unrestricted funds |
|
|
|
|
|
General fund |
18,765 |
(12,746) |
30 |
|
6,049 |
Restricted funds |
|
|
|
|
|
Nurse education |
2,300 |
- |
|
- |
2,300 |
IOW diabetes and endocrinology |
1,201 |
(3,582) |
|
- |
(2,381) |
|
3,501 |
(3,582) |
|
- |
(81) |
TOTAL FUNDS |
22,266 |
(16,328) |
30 |
|
5,968 |
The nurses education fund comprises of monies donated to further training of nurses at the centre.
The IOW diabetesand endocrinologyfund comprisesof monies donatedto enable doctorsand nurses to attend
major conferences which relate to the activities of the centre.
The peer counselling fund comprises of monies specifically to use for peer advisory meetings.
The patient education fund comprises of monies donated towards patient education.
Thewebsiteandnewsletterfundconsistsofagrantspecificallytosupporttheproductionofawebsite and
newsletter.
The diabetes centre fund comprises of monies specifically to use within the diabetes centre.
The foot service fund comprises of monies specifically to use for podiatry.
Thepracticenurseeveningfundcomprisesofmoniesdesignatedtouseforthehireofvenues,and other
associated costs, to hold update meetings with the nurses.
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
continued...
Page 13
ISLE OF WIGHT DIABETIC FUND
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
16. SUBSIDIARY UNDERTAKING
The charityowns 100% of the issued share capitalof The Isle of Wight DiabeticFund Trading Company Limited, a
companyincorporatedin Englandand Wales. The companytradesin supportof the Isle of Wight Diabetic Fund.
The netassetsof thecompanyattheyearendamountedto £56,943,(2023- £55,903),profitandloss reserves
amounted to £56,942,(2023 - £55,902) and the share capital amounted to £1 (2023 - £1) representing1 ordinary
shareof£1each.Itsturnoverandprofitbeforetaxfortheyearthenendedamountedto£40,593,(2023 -
£36,450)and£17,060(2023-£11,341)respectively,ofwhich£15,925,(2023-£11,086)wasdonatedto the
charity.
Page 14
ISLE OF WIGHT DIABETIC FUND
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
16,024
1,875
Legacies
72,071
-
88,095
1,875
Investment income
Interest received
19,112
-
Total incoming resources
107,207
1,875
EXPENDITURE
Charitable activities
Sundries
60
-
Nurse training
-
1,748
Conference expenses
-
1,160
Bank charges
72
-
Support diabetic patient group
20,630
-
Podiatry conference
2,333
-
Bookkeeping
2,200
-
Depreciation of tangible fixed assets
13
-
25,308
2,908
Support costs
Governance costs
Independent examiners' remuneration
1,670
-
Total resources expended
26,978
2,908
Net income
80,229
(1,033) |
2024
Total
funds
£
17,899
72,071
89,970
19,112
109,082
60
1,748
1,160
72
20,630
2,333
2,200
13
28,216
1,670
29,886
79,196 |
2023
Total
funds
£
15,851
- |
|
|
15,851
6,415 |
|
|
22,266
-
-
3,582
78
8,950
585
1,800
13 |
|
|
15,008
1,320 |
|
|
16,328 |
|
|
5,938 |
This page does not form part of the statutory financial statements
Page 15