Charity registration number 500115 LEAGUE OF FRIENDS OF NUNEATON HOSPITALS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr M Parsons (Chainnan) Mrs L Smith (Secretary) Mr R Parker (Treasurer) Mrs E Breeze Mrs C Cox Mrs J Bowns Mrs B Jones Mrs A Whitmore Mrs M Martin Mrs J C Dowsett Mr W J Roberts Mrs M French (Appointed 15 May 2024) (Appointed 15 May 2024) (Appointed 15 May 2024) (Appointed 15 May 2024) Charity number 500115 Registered office League of Friends Office George Eliot Hospital College Street Nuneaton Warwickshire CV10 7DT Independent examiner Azets Audit servIs 3Mc Middlemarch Business Park Siskin Drive Coventry United Kingdom CV3 4FJ
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 7-13
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trusl deed, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practi applicable to charities preparing their a(rounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" {as amended for accounting periods commencing from 1 January 2019) Objectives and activities The objective of the League shall be to relieve and assist patients in the Nuneaton Hospitals including the George Eliot and Maternity Hospitals in providing general. acute, matemity and community care and to support the charitable work in the hospitals. To supplement the seNice provided by NHS local care providers for the health, welfare and comfort of all patients therein by the provision and purchase of extra comforts, amenities and facilities, buildings and equipment which may be required for the treatment of such patients or for the efficient running of the Hospital which cannot be obtained from state funds. To Raise Funds and to invite and received contributions from any person or persons or organisation whatsoever, by way of subscription, donation or otherwise. To provide or assist in the running of outpatients tea bars. To recruit and assist in the recruitment of voluntary workers for the League. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should underlake. Achievements and perfonnance l am pleased to report that even though we are working in difficult times, our Leage of Friends, a modern friendly cafe in the main hospital, has continued to provide a good and successul seNice lo the patients. visitors and staff at the George Eliot Hospital. During the year we have reopened our second cafe now called Eliot's in the foyer of the Maternity Hospital. The cafe was extensively refurbished by the Hospital's Estates and is now offering the same friendly service to patients, visitors and staff. Our main regular income comes from both our cafes, which are staffed by our team of around 100 volunteers. We have seen trade gradually increasing Ihroughout the year, making a surplus of £123,035 in 2024. Donalions and legacies amounted to £2,778 for which we are extremely grateful. Collection boxes amounted to £2,422 and subscription were £242. The deposit interest has increased to £35,769 because of the rise in interest rates and our reserves policy to ensure that any surplus funds not needed for the immediate purchase of eqUIpEnt are plaGed on deposit until they are needed. We are pleased to report that equipment purchased for the Hospital increased to £99,928 in 2024 compared to £53,657 last year. We are continuing to work to promote the League in the Hospital publicising handovers of equipment and improving the process for managing applications for equipment from departments. Without our wonderful dedicated volunteers. none of this would be possible, so heartfelt thanks to everyone who so generously give up their time, to ensure the League of Friends continues to thrive. Financial review The Income and expenditure for the year and transfers to and from the various funds are shown in Ihe attached financial statements. The financial stalements are prepared in accordance with the current statutory requirements.
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 It is the policy of the charity that unrestricted fvnds which have not been designated for a specffic use should be maintained at a level equivalent to twelve month's expendilure or more. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity s current activities while consideration is given to ways in which additional funds may be raised. This level of reseeS has been maintained throughout the year. The constitution permits the trustees to make or hold investments. League of Friends of the Nuneaton Hospitals invests in COIF Charity Funds managed by CCLA Inveslment Management Limited. Where funds are not immediately required they are placed on short term investment at the best available rates. The trustees have developed a Business Strategy and review developments regularly to assess any strategic, business or operational risks. League of Friends of the Nuneaton Hospitals is an established charitable organisation of many years, which is reliant of donation, legacies, tea bar income and other fund raising activities. Donations are made from cash resources available and are not given rffunds are not available. The risks to which the charity is exposed, as identified by us the trustees, have been reviewed and systems have been established to mitigate those risks. Structure, governance and management The charity is govemed by its constitution which sets out its rules and objectives. League of Friends of the Nuneaton Hospital is an unincorporated charity (no 500115) managed by a board of trustees. A list of those serving during this financial year is shown on the charity information page. The trustees are appointed each year. Trustees meetings are held regularly and deal with the broad strategy of the organisation and monitoring of its implementation. The trustees are responsible for the overall financial running of the organisation. Most trustees are already familiar with the practical work of the charity. The induction process for any newly appointed trustee comprises of an initial meeting with the chaimian of the harity- The trustees confimi that they have had due regard for the guidance published by the Charity Commission on public benefit.
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Re5 Pohcy Tho ol malnlaning a feawsllc level of resepdes Is lo ts. Liver a pknO. th• wuests On average alm to spend our annual kK)me ne. over tsElve npJnlh$, aTrY to keep balances lo marnlain 6pproxlmatety 8 funher Th11$ lo c<hw any conthYnc or Lvgenl rwu86ts Twhich rroy atse. Slep5 1. to cover Ilucluakn m (1erfw. 2. of Iwelve months unless appe for a rtom. 3. to maintain 8 18¥01 ol su1u$ fr(n the cThnmercl81 seryieAd by vcknlws and ¢*ywlK)n$. The trustees have 8nd continue to mor¥kn aThJ aty81 the lo Mam1 th•18Yo1 do8m•J neces¥ary to last day of Ihe financial yw ID vhuch the tates. Mr M Parnon8 (ch•1mnI
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEAGUE OF FRIENDS OF NUNEATON HOSPITALS I report to the trustees on my examination of the financial statements of League of Friends of Nuneaton Hospitals (the charity) for the year ended 31 December 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial stslements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respecl of my examination of the charity's financial statements carried out under sedion 145 of the 2011 Acl. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under seclion 145I5){bl of the 2011 Act. Independent examinerfs statement Since the charity's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualrfied lo undertake the examination because l am a member of . which is one of the listed bcrflies. Your attention is drawn to the fact that the charity has prepared financial statements in aCcOrdae with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Rep(rting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practi issued on 1 April 2005 which is referred to in the extant regulalions but has now been withdrawn. understand that this has been done in order for financial statemen15 to provide a true and fair view in accordance with Generally Accepted Accounting Practice effeclive for reporbng periods beginning on or after 1 January 2019. I have compleled my examination. I confirm that no matter5 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 respecl of the charity as required by seclion 130 of the 2011 Act; or the financial statements do not accord with those records; or the financial statements do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thal the accounts give a true and fair view which is rnt 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 attenlion should be drawn in this report in orderAenab1e a proper understanding of the financial statements to be reached. RobertAnderson FCA Azets Audit Services 3Mc Middlemarch Business Park Siskin Drive Coventry CV3 4FJ United Kingdom Dated..
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Unrestricted funds funds 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments 2,778 289,187 35,769 2,525 189,527 24,598 Total income 327,734 216,650 endi Charitable activities re on: 272,051 168,610 Net inGome for the yearl Net movement in funds 55,683 48,040 Fund balances at 1 January 2024 1.051,154 1,003,114 Fund balances at 31 December 2024 1.106,837 1,051,154 The ststement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS BALANCE SHEET AS A T 31 DECEMBER 2024 2024 2023 Tanle ass 124.403 889.672 133,381 808.257 10 1.013.975 941,638 Si(KMs Deblixs Cash at in 11 12 1.814 60.792 88.976 61.192 105.831 170.988 1S1.582 Cr•dltor•: •rnounts l•llkng du• ono y¢•r 13 178.126) (42.066) 109.516 I.1.837 1.051.154 Incom• fund• Unfesincted turxJ8 t.1,837 1,CA51.154 1.11A.837 1,051.IS4 e. e Mr M Parsons (Chain) Twu•t•• Mr R Parker {Treaswer) Loefttsi KIE £M17 Trusts8 C Sfv¢
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity infomiation The charity information is given in the charity information page on these financial statements and the nature of the charities operations and principal activities are included in the Trustee Report. 1.1 Accounting convention The financial statements have been prepared in accordance wth the charitys governing document, the Charities Act 2011 and "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 charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterfing. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. [modified to include the revaluation of freehold properties and to indude investment properties and certain financial instruments al fair valuel. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements. the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existen for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitsble objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met. the amounts Gan be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations reiVed under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on reIpt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, il is probable that a transfer of economic benefrts will be required in setuement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dir costs and shared costs, including support costs involved in undertaking each activity- Direct costs attribulable to a single activity are allocated directly to that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent wilh the use of resources. Central staff costs are allocaled on Ihe basis of time spent, and depreciation charges are allocated on the portion of the asset's use. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is legal or constructive obligation to make payments to third parties. it is probable that the settlement will be required and the amount of the obligation can be measured reliably. The value of services provided by volunteers has not been included. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Tea Bar Refurbishment George Eliot Chapel Office Equipment 5 % 110 % per annum (straight line method) 1.67% per annum (straight line method) 25 % per annum (reducing balance method) The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carying value of the asset, and is recognised in the statement of financial activities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs. and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed assets At each reporting end date, the charity reviews the carying amounts of its tangible assets to detemiine whether there is any indication that those assets have suffered an impairment loss. If any such indicalion exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss {if any).
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.9 stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and. where applicable. direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in Guent liabilities. 1.11 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instrumenls are recognised in the charitys balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing Iransaclion, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or serviS that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non<uent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's (x)ntractual obligations expire or are discharged or cancelled.
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.12 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Donations and legacies Unrestricted Unrestricted funds funds 2024 2023 Donations and gifts 2,778 2,525 Charitable aGtivities Charitable Charitable Income Income 2024 2023 Tea bar Income Other 286,523 2,664 187,002 2,525 289,187 189,527 Investments Unrestricted Unrestricted funds funds 2024 2023 Interest ReiVed on Investments 35,769 24,598 10-
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable Activities Charitable Charitable Expenditure Expenditure 2024 2023 Purchases Affiliation Fee & Insuran Repairs & Maintenance Pens & Diaries Purchase of Hospital Equipment Accountancy Catering Charges Equipment Rental Staff l Officials Expenses Sundry Depreciation 127,266 1,430 179 698 99,928 2,300 24.053 3.137 2.879 1.202 8.979 79,166 1,354 303 369 53,657 2,360 17.120 2.803 1.729 731 9.018 272,051 168,610 272,051 168,610 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Staff Costs and Officials Expenses No remuneration was paid to the trustees during the year. The average number of volunteers was approximately 90. Several officials were reimbursed for postage and ststionery costs and travel expenses as disclosed in note 5. Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objecls. 11
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Tangible fixed assets Tea Bar George Eliot Refurbishment Chapel Office Equipment Total Cost At 1 January 2024 73.249 167,088 12,191 252,528 At 31 December 2024 73.249 167,088 12,191 252,528 Depreciation and impaimient At 1 January 2024 Depreciation charged in the year 21.031 6.075 86,400 2.785 11,715 119 119,146 8.979 At 31 December 2024 27.106 89.185 11.834 128.125 Carrying amount At 31 December 2024 46.143 77,903 357 124,403 At 31 December 2023 52.218 80,688 475 133,381 The Chapel is situated on land leased from the George Eliot Hospital NHS Trust. The lease has a temi of sixty years and it commenced on 21st June 1993. The annual rent is a peppercom rent. 10 Fixed asset investments CCLA Other Fixed InvestmentTerni Deposits Fund Total Cost or valuation At 1 January 2024 Additions Interest 505.230 45.000 25,886 303,027 808,257 45,000 36,315 10,429 At 31 December 2024 576,116 313,456 889,572 Carrying amount At 31 December 2024 576,116 313,456 889,572 At 31 December 2023 505,230 303,027 808,257 11 Stocks 2024 2023 Raw materials and consumables 3,965 1,814 12-
LEAGUE OF FRIENDS OF NUNEATON HOSPITALS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Deblors 2024 2023 Amounts falling due within one year: Other debtors Prepayments and accrued income 60,831 361 60.448 344 61,192 60.792 13 Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Trade creditors Accruals and deferred income 12,095 63,281 2,750 7.138 33,093 1,835 78,126 42,066 14 Related party transactions During the year the charity entered into the following transactions with related parties= The Chapel is situated on land leased from the George Eliot Hospital NHS Trust. The lease has a term of sixty years and it commenced on 21st June 1993. The annual rent is a peppercom rent. 13-