Charlty nurnbor: 502242 WREXHAM HOSPITAL LEAGUE OF FRIENDS UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 AUGUST 2023 Protecting your future.
WREXHAM HOSPITAL LEAGUE OF FRIEND8 CONTENTS Page Ref•ranc• and Admlnlstrat5ve Detalb of the Ch•rityi its Tr¢9 and Advisers Chalm)an's Stat•mont Trusteos. Report Independent Examlnorfs Report Statsment of Flnanclal Actlvlties Balance Sheet Statement of Cash Flow8 10 Notes to the Flnanclal Statements 11-28
WREXHAM HospifAL LEAGUE OF FRIENDS REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, rrs PATRONS. TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023 Patrons and Trustees Lord Thomas of Gtsf0rd OBE QC. President Sir Chartes Gladstone, Bl, Hon VIC8 Pr8sid8nt Mr Lh)yd Fitzhugh OBE, Hon Ve President Mr E R Hanm8r, Hon Vice President Irasioned 16 January 20231 Mrs B M Bryden, BEM, Chaimian Mr T M Williams MBE, Wice Chaiman Mrs M Elli$. Commrttee Mrs D Evans. Committee Mr D Holmes, Committee (appointed 16 January 20231 Mr T Jones, Committee Mrs M Story. Committa8 Mrs A Thomas, Committee (resigned 16 January 20231 Mr W Thomas, Committee (resigned 16 January 2023) Mr T Williams, Committee lappoinled 17 Odober 20221 Charity r8gi8ter•d number 502242 Prlnclpal offk¢ 16 Ch8ntideer Close Wrexham Chvyd LL13 9EQ Accountsnts WR Partners Chartered Accountants Belmont House Shrewsbury Business Pa Shrewsbury Shrop$hire SY2 6LG Bank•rs HSBC PLC Regent street Wrexbam In¥¢$tment Fund Manager6 Quilter Chgviol 5 Sl Paul's Square verpool L3 9SJ Tilney 6 Chesterfield Gardgns Mayfair London W1J 5BQ Page 1
WREXHAM HOSPITAL LEAGUE OF FRIENDS CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023 The chairman presents her statement for the year. This year sees u8 in a much better position. As we all know the obj8Ctive of the Wrexham Hospital League of Friends is to provide fvnds for the purchasing of SPeall$l medical 8quipm8nt for th8 b8nefft of patients who have a need lo visit this hospital. We have quite a lot of problems this year wth BCUHB with the funding, as staff who had knowledge of the pr¢xedure8 have now left. A replacement was appointed bul only stayed a few months. We are Still waibng for BCUHB to pppoinl someone whom we can liaise with, who can hopefvlly sort the problems we face al the present. We had gifted over £400,000 for the purcha88 of sp8ciali8t equipmnt but m081 of the equipment has yet to arrive. Our retsil sales are now doing well since many restrKtions to visitors have now been lrfled. We ar8 slowly building up on new stock. A few of our okler volunteers decided to retire. but l am happy lo say that we have teen able to retain, and recrurt others. I would like lo thank the Shcp staff, all the Trustees, and all our faithful volunteers vtho have weathered the slom over a difficult time. We look fOard lo moving on and getting back to normality w¢th enthusiasm. Mrs M Bryden BEM Chairman Page 2
WREXHAM HOSPITAL LEAGUE OF FRIENDS TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees pre88nl their annual report t&Jether with the financial statements of the Charity for the Fetiod from 1 September 2022 to 31 August 2023. OblectNes and avItIes Pollcles and oblecllves The Wrexham Hospitsl League of FrEnds was established to.. Raise funds for and provide physical amenits'e$ for the benefit of patients at the Wrexham Maelor Hospital., 8nd Support the charitable work of the Ho8Pit81. In setbng objectives and planning for activities, the Trustees have given du8 consid8ralion to general guKlance published by the Charty CommissKin relating to public beneff(, inctuding the guidante'Publie benefrt.. running a chartty IP821'. b. Activities undertaken lo achleve obloctlves We have reler¥ed to the guidance ntsIned in the Charity Commmissicffl's general 9uidance on public benefit when reviewing our aims and objectives and in planning our future aetivilies. In particular. the trustees consider how planned activrbes will contribute to the aims and objectives they have sel. The aelivrtle8 of the Le8gu8 potenlplly benefrt all vsers of the Wrexham Maelor Hospital, through the purchase of addrtional medical equipment for the hospital'8 use, or through the provision of on-site shc¢) facilit. The League 1$ committed to equal access by hospital users to the bgnefts that it provides. c. Grnnt4naklng polkle¥ The League invites applicali¢Jns for funding of speafic projKts within Wrexham Maelor Hospital. These are consTder8d annually by the Committee. In recgnt years bids hav8 been accept8d by the L8ague of Friends but due to 8dminislralive deL4ys at BCUHB, final invoices have not been submilled. We anticipate that this will be resolved In the near future. Achievements and performance Revlew of activtties A review of the years aL*ivrties 1$ included within the Chaiman's ststement on page 2. Page 3
WREXHAM H08PITAL LEAGUE OF FRIENDS TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 Achlevements and rfOrManCe lcontinuodl b. Investment pollcy and perforniance There are no restrictions on th& League's power lo invesL On 24th August 2012 the Leaguo received a legacy from the estate of Mrs M Jenkins in the Sum of £1,750,000., further sum of £194,314 was recewed during the year to 31st August 2012. The committee decided to treat this as a 8eparate designated fund, which is known as tre Jenkins Fund. To this end. £1.850,000 was inve81ed during August 2012 with fund managers wrth the objeth've to Produce an income stream together wrth some growth for distribution by the League in flrture years. This is in accordanca with the St81emenl of Investment Policy, Objectives & Guidelines drawn up for the League under guidance of an Independent Financkgl Advisor. Thè main aim of the Jenkins Fund is to provide as regular and secure an income stream as possible, loplher with some grovrth in the fund, in order to secure the future viability of the League. in accordance with its aims and tjbjectives. The Commrttee ¢on8pJer that these obj'ectives have bo8n achieved by the investment managers during this financial year. Financial rnvlew Golng concem After making appropriate enquiries, the Trustees have a reasonabb expedation that the Charity has adequate resource8 lo continue in operational existence for the foreseeable future. For this reason. they continue to adopt the going concem basis in preparing the financial Statements. b. Reserves pollcy The Trustees have reviewed the League's needs for the reserves in line woth the guidance issued by the Charty Commission and propose that at lea8175% of the League's annual nel income, excluding restricted funds, be donaled each year for charitablg purposes in accordan with accepted procedures, and that any remaining balances be applied g(fher to unforg$8en commrtm8nts thin the Same accounting year or added lo balance$ for distributs'on in the following year in accordance with this policy. Not¥wthstsnding the 4bove policy statement the Trustees reserve the right lo accumulats balances extseding those stated where they fomially agree lo support a long temi prOjeJ5cheme to whh reference will be made in the Annual Report. During 2023 we gave out a grant for £100,000 I13rd$ a laser for the Urology DepartrnenL Free reseryes stand at £371,74912022 £301,398) as stated as the unfestriet&J funds. less the designated ftjnds and the tangible fixed assets. Designated reserves comprise the Jenkins Fund as noted above. The value of this fund al 31 August 2023 was £2,940,21212022. £3,005,003). Structure. govemanee and m•nagomenl . Constltutlon Wrexham Hosprtal League of Friends is a registered charity. number 502242, and is Constited under a Trust deed. Page 4
WREXHAM HOSPITAL LEAGUE OF FRIENDS TRUSTEES. REPORT ICONnNUED) FOR THE YEAR ENDED 31 AUGUST 2023 Structure, govemanc• and man8g•ment leontinuedl b. M8thod8 of apwlntment or electlon ol Trust90S New Committee members are appoinlod upon the recomm8ndalion of existing m8mbars, and seNe for a three year tem. The Le8gue is administered by a Committee with a wide range of skills. All members of the Management Committee give their time valuntarily and receNe no benefits from the charity. Any expenses reclaimed from the charrty are sel out in note 13 in the accoLtnls. Organlsatlonal stru¢ture and deci$ion4naklng pollcles The League is g)vefll8d by a Commrttee, which meets 10 times a year. through whth all the busne88 of th8 League ts carried out. Within the CtJmmittg9 a Chairman, Treasurer and Secretsry ar8 appointed. In addition the Committee may delegatg possws to specific sub-committees. All actions of th8 sub-ccfftmittees will be reported to ant1 confirmed by the Committee. On 3rd November 2004 the activities of Wr8xham's Hospital Broadcasting Servic& (formerly an independent charity) were merged wth those of the League. "Radio Maelorf. now q)erates as a restricted fund within the League, administered by tts own sutKommitte8. The League 15 deFendent C th6 contribution and support of volunteers who work in the League shops within the Hospital, raise funds, and work wthin the Committee. 11 also employs a paid shop manager. who reports to the Shop's sub•committee and also the Finance & Inve81menl sub-committee. d. Pollcle8 adoptsd for tha Inductlon and trdining of Trustges New members of the Committee are provided wth copies of the Charity Commission's leaflet CC3, describing Responsibilities of Charity Trustees. o. Related party rolatlonshlps The League is a member ofATTENO, formerfy the National A880ciation of Ho8pftal & C¢)mmunity Friend$. f. Flnancial rfsk managemgnl The Trust80s have assessed the major risks to whh the charity is exposed, in particular thos8 related to the ¢Jperalions and finances of the charity, and are Satisfied that systems and prccedures are in place to mrtig8te our exposure to the major risks. Intemal risks are minimised by the implementation of prttedures for outhorssation of all Iransaetions and projects. These procedures are Feriodicalty revlewed to ensure that they still meet the negds of the charity. Plans for ftrture perl¢xlg We alm lo continue to opeiate both shcps, continue fvndraising and support Wiexham Maelor Hospital as bkls are provhywj to us. Page 5
WREXHAM HOSPITAL LEAGUE OF FRIENDS TRUSTEES, REPORT ICONMNUED) FOR THE YEAR ENDED 31 AUGUST 2023 Statement of Trustees. r•sponsibiliti88 The Trustees are responsible for prèparing the Trusts8s' Report atKI th8 financial statements in accordance th applicable and United Kingdom AUntIng Stsndards Iunited Kingdom Generally Accepted Aeeounling pract). The law applicable to charities in England & Wal8s requires the Trustees to prepar8 financial st8t9m9nts for each financial whh give a true and fair view of th8 Stale of affairs of the Charity and of its incoming resources and application of resources, including ils income and expenditure. for that period. In preparing Ihese financial statements, the Truslaes are required to". sglect suitable acwunting poli¢ie$ and then app them consistently- observe the methods and principles of the Charities SORP {FRS 102}', make judgments and accounting estimates that are reasonable and prudent., stste whether applicable UK Aecounling Standards IFRS 1021 have teen followed. subject to any matsrial departures di$clo$8d and 8xplained in the financial 5taternenls'. prepare the financial statements on the going concein basys unless rt is inappiopriate to presume that the Charty will continue in business. The Trusteos are spOnsIb for keeping adequat& acwunling rocords that ore sufficient to show and explain the Chartys tran$8Ctions and disclose with reasonable accuracy at any time the finanual position of the Charity and enable them lo ensure that the financial ststements Comp with the Charities Act 2011, the Charity {Accounl$ and Reports) Regulations 2008 and the piovisions of the Trust dee(J. They are 8180 respcrf)sible for safeguarding the assets of the Chanty and hence for taking reasonable steps for the prevention and detection of fraud and olhei irregularities. Approv8d by order of the members of the board of Truslges and signed on their behalf by.. Mr5 8 M Bryden Chainnan Pag8 6
WREXHAM HOSPITAL LEAGUE OF FRIENDS INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2023 Independent Examlnerfs Report to the Trustees of Wrexham Hospital Leagu8 of Friends ('Ihg Charlty.) I rert to the charity Trustees on my examination of the accounts of the Charty for the year ended 31 August 2023. Tho Charity has received a dispensation from audri dated 1S Juty 2024 from the Charty Ccfnmission. Responglbllftles and Ba818 of Roport As the Trustees of th& Charity you aro rgsponsibb for the preparalKJn of the account8 in accordance with the requirements of the charits Ad 2011 Ilhe 2011 ACVI. I report in respect of my examination of the Charfty's accounts carried out under section 145 of the 2011 Act and in carying out my examinalK*n I hove follfftd the applicable Directions given by Ihe Charty Commission under seCtn 145(5}Ibl of the 2011 Act. Independent Examine$ sLernet I have completed my examination. l eonfimi that no matters have come lo my attention in connedion with the examination giving me cause to believe that in any material respect.. accounb'ng records were not kept in respect of the Ch8frty a$ required by section 130 of the 2011 ACL or the accounts do not COrd wi(h those records.. or the accounts do not comply with the applicable requirements conceming the fofm and content crf aUnts set out in the Charities (Accounts and Reports) Regulatn$ 2008 other than any requirement that the acmunts give a Irue and fairf view whth is not a matter consKlgred 0$ part of an independent examination. I have no con¢gms and have como across no other matters in connedion with the examination to which attention shoulj be drawn in this report in order to enable a proper understanding of the accounts to be reached. Bookkeeping seNic8s from a sepera18 WR Partners office have been provided lo the Charity during the year. The bwkkeeping Sorvicg 15 independent of the independent examiner's work. I confirm that the FRC'S Revised Elhul Standard has been appropriately applied. This rep)rt is made solety to the Charity's Trustges, as a boty, in xcordance with Part 4 of the Charitie5 {Accounts and Reports) RegulalK)ns 2008. My work has been undertaken $0 that I might $late to the Chanty'$ Trustees those matters l arn required lo state to them in an Independent Examinefs Report and for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility lo anyone other than the Charity and the Charitls Trustees as a body. for my work or for this reF)Ort. Signgj.. Dated.. 22 SJ Tweed BSC, FCA, DChA WR Partners Chartered Accountants Belmont House Shrewsbury Business Parf( Shrewsbury SY2 6LG Page 7
WREXHAM HOSPITAL LEAGUE OF FRIENDS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 Restricted Unr•strictsd funds funds 2023 2023 Total funds 2023 Total funds 2022 Note In¢ome from: Donations and leg8ue8 Other tra¢Jing aclivf(ie8 Inve$lments 16A16 8,842 361,988 48,765 40.048 112.7S3 42. 725 361,986 46,766 Totsl Incom• 16.816 417.693 433.409 195.526 Expendlturn on: Raising fvnds Charitable activrii88 270.625 163,112 270.625 103,112 703,262 50,690 10 Total expendlturo 433,737 433,737 153,952 Net incoméll•xpenditurel before net galn8111088esl on investJnents Net gain81lh)ssesl on investments 1SM16 {16.1441 9.092 13281 9.092 41,574 (120,533) Net Incomellexpgndlturel Transfers betsveen funds 15.816 113,9041 17.0521 13.904 8.764 178.959J 18 Net movornent In fund$ 1,912 6.852 8,764 (78,959) Ro¢¢)n¢illatlon of nds. T¢Jtsl fund$ brought forward Net movernent in funds 35.929 1.912 3,310.379 6.852 3.346.308 8.764 3.425,267 (78,959J Totsl fvnds carri8d forward 37,841 3.317.231 3.355.072 3,346,308 The Slalement of Financial Activtties includes all gains and losses recognised in the year. The notes on pages 11 to 26 fom part of these financial statements. Page 8
WREXHAM HOSPITAL LEAGUE OF FRIENDS BALANCE SHEET FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Note Fixod I0ts Tangible assets Investments 14 5.270 2,940.212 3,978 3,005.003 15 2.945A82 3,008,981 Current a88ets Stocks Cash at bank and in hand 16 6,839 427,430 5,980 350,416 434,269 356,396 Credrtors.. aUnIS falling due within one year 17 (24.879} (19,069J Not current assets 409,590 337.327 Totsl ossets less current Ilabllftle8 3.366.072 3,346,308 Total net assets 3,355.072 3,346,308 Charity funds R8$trided funds Unrestricted funds 18 18 37,841 3,317,231 3&929 3,310,379 Total funds 3.355,072 3,346,3Q8 The financial Statements were approved 8nd authorised for issue by the Trustees and signed on their behalf by- Mrs B M 8ryden BEM Chaimian Date.. 11 19( The noles on pages 11 to 26 fomi part of these financial $18lements. Page 9
WREXHAM HOSPITAL LEAGUE OF FRIENDS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Note Cash flows from operating activltles N81 cash used in operating aclivi(ie$ 20 1310.185) 30.474 Cash flows from invèsting activiti•# Purthase of tangible fixed assets Sale of investments Purchase of investrnents 12,275). 1.629.714 491,946 11,240.240) (502,235) Net C88h provldod byl{used Inl Investlng actlvltlos 387,199 1112891 Ca8h flow8 from flnanclng adlvltles Net cash provlded by Ilnanclng actlvltles Change In cash and cash equlvalents th• y•ar Cash and cash equivalents al the beginning of the year 77,014 18,185 332.231 350.416 Cash and cash equtvalents at the end of the year 21 427.430 350.416 The notes on pages 11 to 26 form part of these finanaal statements Page 10
WREXHAM HOSPITAL LEAGUE OF FRIEND8 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 General inforniatlon Wrexham Hospital League of Friends is a charity registered in England and Wales. The address of th8 regiOred office is given in the charity infomation on page 1 of these flnan¢ial st8tements. The League wa5 established to raise fvnds for. and provKle physical aneni(ies for the benefrt of patients at Wrexham Maèlor Hospital, and to support the ch8riiable work of the Hospital. Accounting poli¢ies 2.1 Bas1¥ of preparatlon of flnanclal 8tatèments The financial statements have been prepared in accordance wilh the Charities SORP IFRS 1 Q21- AuntIng and Reporting by Charities.. Statement of Recommended Practice applicable to charitios prepariro their accounts in accordance w((h the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charitses Act 2011. The financial statements have been prepar&J lo gwe a 'true and fair. wew and have dep8rted from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required to provide a Irue and fairf view. This departure has involved follov*ing the Charities SORP IFRS 102} published in October 2019 rather than the Accounting and Reporting by Charities.. Stalement of Recommended Practice effeCte from 1 April 2005 which has sincg begn withdrawn. Wrexham Hospital League of Friends meets the definition of a public benefit entty under FRS 102. Assets and liabilities are in5tially reCniSed at hist(Jrical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Golng ¢oncem The financial $tal8m8nts havo boen prepared the going concern basis. Page11
WREXHAM HOSPITAL LEAGUE OF FRieNDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng poll¢ies (continued) 2.3 Incomg All In¢ome is reeognised once the Charity h88 entitlement to the income. it is probable that the income will bè reeeivad and the amount of Income rec8lvable can be m8asur8d r81iably. Grants are included in the Statement of Financial Activities on a receNable basis. Th8 balance of income rec8iv8d for specific purposes but not expended during the period is Shown in tha relevant funds on the Balance Sheet. Where income is received in aance of entitlement of receipt, its recognition is deferred and included in credrtors as deferr8d income. Wheo entiuement occurs before income is received, the inconp is a¢w¢d. Gifts in kind donated for distribution are included at valuation and recogntS8d as income when they are distributed lo the projects. Gifts donated for res819 arg includgd as income when they are sold. Where the donated 9¢x is a fixed asset, it is measured al fair value, unl8ss it is impractical to Measu this reliably. in which case the cost of the item to the donor should be used. The gain is recconlsed as income from donatK)ns and a corresponding amount is included in the appropriate fixed asset d8ss and depreciated over the useful economic lrfe in accordance wrth the Chantys ¥xounling policies. On recèipt. donated professional seNices and facilities are recognised on the basis of the value of the gift to the Charity whh is the aUnt il would have Èeen willing to pay lo obtain services or tscilits of equivalent economlc benefit on the open market., a eorresponding amount is then recognised in expenditure in the period of receipt. Income tax reeoverable in relallon lo donalons receiv under Glft Akl or deeds of covenant is recognised at the b'me of the donation. Income lax recoverablg in relation to inve5trnent inwme 15 rewgnised al the time the investment income is receivablg. 2.4 Expendlturo Expendféure is recognised once there is a logal or ¢onstructive obligatn lo transfer economic benefrt lo a Ihird paty, il is probable that a transfer of economic beneffts will be required in settlement and the amount of the obligation can be measu1 reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs. Including support costs involved in undertaking each activty. Direct costs attributable to a single &INily are allLxated directly lo that activty. Shared costs which conlribLrte lo more than one aetiviiy and support costs which ar& not attributable to a single actiV7ty are apportioned betsveen those twilie$ on a basis consistent with the use of resources. Expenditure cffl raising lunds indudes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundrai8ing activities events and nonwch8ritable trading. Expenditure on charitable activit8 is incurred on directty undert8king the actNities which fiJrther the Charity's objectives, a$ well as any associated support costs. Grants payable are charged in the year en the offer is made except in Ihose cases where the offer is conditional, wjch grants being recogni8ed a8 expenditure when the conditlS attsching are fulfilled. Grants offered Subject to Conditn$ whth have not begn met at the year end are noted as a commitment. bul not accrued as expenditure. All expendtiure Is Inclusive of irrecoverable VAT. Page 12
WREXHAM HO8PITAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting poli¢ie$ l¢ontlnuedl 2.5 Government grants Govemmenl grants received are treal&J as irKome in the Statement of Financial AGtivilies. 2.6 Interest recelvable Interest on funds hèld on deposit is included when receivable and Ihe 8mounl can be measured feliably by the Charity.. this 1$ noM)a1 upon notifition of the interest paKJ or payable by the instf(ution wrth whom the funds are deposrted. 2.7 Tanglbl• flxèd assèts and d•precl•tlon Tangib fixed assets are capitalised and recognised when future economK beneffts are probable and tha cost or value of the a888t can be m8asured relk?bty. Tangible fixed assets are inilialty recognised al cost. After recLwnition, under the Cost mod81. tsngible fix8d assets a measured al cost less accumulated depreciation and any ac¢Lrmulaled impairment bsses. All costs incurred to bring a tangible fixed asset into i(s intended w01ng ndition should be indud&l in the measurement of cost. DeprerAation is charged so as lo allocate the cost of tangible fixed assets bss their rgsidual value over their estimated useful INes. on a reducing balance basis. Depre¢iation 18 provided on the followlng b8sIs.' Property improvements Fixtur8s and fttings Office equipment 10°h Redu¢ing Balance 150A R8ducing BaLanca 25% Reduelng Balance 2.8 Investmonts Fixed ass8t inv8Stmenls are a fomi of financial instrumant and arg initially recognised at their transaction cost and Subwuenlty measured at fair value al the Balance Sheet dale, unless the value cannot be measured reliabty in which case il is measure(l at cost less impainnent. Investment gains and losses, whether realised or unraalised, 8re combined and presented as'GainsllLosses) on inveslmenls. in the Slalemenl of Financial Adivities. 2.9 Stocks Stocks are valued at the lower of cost and net realIsab value after making due allowance for obsc4ete and sk)W-moving Stocks. 2.10 Cash at bank and In hand Cash at bank and in hand inclLxles cash ard short4emi h)h liquid inve5trnents wilh a short m81urty of three months or less from the date of acquisiiion or opening of the deposit or similar account. Page 13
WREXHAM HOSPITAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng policies (Gontlnuodl 2.11 Llabllltlos and provlsions Liabilrties are recognised when the 1$ an obligation al the Balance Sheet date as a resum of a past event. it is prob8bb that a transfer of economie b8n8fft wlll be required in settlement, and the amount of the settlement be estimated reliably. Liabilities are recognisgd at Ihg amount that tha Charrty anticipates it will pay to sgttso the debt or the amount it has received as a¢fvanced payments for the goods or services it must provide, 2.12 Flnanclal Instruments The Charty tlY has financi81 assets and financial liabilities of a kind that quglify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and SubsUenY measured al their selllement value wth the exception of bank 108n8 whh are subs8quently measured at amort18ed cost using the effective interest methad. 2.13 Oporating leases Rentals paid under operating kases are charged lo the Statement of Financial Activities on strdighl lin8 basis over the a58 term. 2.14 Fund accounting General funds are unrestricted funds whth are available for use al the discretion of the Trustees in furtherance of th8 general objectives of the Chanty and whh have not been designated for other purposes. De8ignated funds ttimprise unreslrided funds that have been set aside by the Tru8tee8 for particular PulS8s. The aim and use of 8ach designated fund is Set out in the notes lo the financial stslemenls. Restricted funds are funds which ore to te Lrsed in accordance with specific restrictvJns imposed by thnors or which have raised by the Charrty for particular purposes. The costs of raising and &dminislering such fund5 are charged against the sp8crfic fund. The aim and use of each r9stricted fvnd is sel out in the notes to the ffnancial slalemgnls. Investment income, g8ins and losses are althatod to the appropriate fund. Critlcal accountlng estlmates and areas of Judgm•nt Estimates and judgmenls are continually evaluated and are based on historul experience and other factors, inciuding expectations of future events that are believed to be reasonable under the ircum6tances. Critical actounling estimates and assumptions.. The Ch8rity makes e8timales and a8sumpliciis concerning the fvture. The resulting accounting e8tlmate8 and assumptnS will, by definition, seldom equal th9 rglatad actual r8sulis. Th8r8 are no estimates and as5umpt¢ons that have a signrficant risk of causing a material adjuslmenl lo the carying amounts of assets and liabiif(ies within the next financial year. Pag& 14
WREXHAM HosprrAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Income from donations and legacies Restrlcted UnrostriGtsd fund8 funds 2023 2023 Total nds 2023 Total nds 2022 Donations Government grants 15,818 8,842 24,858 3T,935 2,113 15,816 8,642 24,658 40.048 Total 2022 40,048 40.048 The government grant income In 2022 includes £2,113 Job Retent*)n Scheme paymonts. Incomo from othgr tr•ding 4rtivitios Unrestrictsd funds 2023 Total funds 2023 Total lunds 2022 Shop income 361,986 361.986 112,753 Total 2022 112, 753 112. 753 Page 15
WREXHAM HOSPITAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Inveslment Income Unrestrictgd funds 2023 Total funds 2023 Tolal funds 2022 Ineome from quoted investments Depost account interest 34,493 12,272 34,493 12,272 36.273 6,452 46.765 46,765 42. 725 Tot812022 42, 725 42,725 Exp8nditur8 on raising funds Costs of ralslng voluntary Income Unrestrlctsd funds 2023 Totsl funds 2023 Total funds 2022 Fundraising costs 136 Total 2022 136 136 Other tradlng expenses Rèstricted Unrestrtct•d funds funds 20fJ 2023 Total funds 2023 Tot funds 2022 Shop expenditure 239,421 239.421 70,909 Total 2022 38 70,8TI 70,909 Page 16
WREXHAM HosprrAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Inv•8tmont management Unregtrfcted funds 2023 Total funds 2023 Total funds 2022 Inv8strnent managOTnent f8e5 31,204 31.204 32.277 Total 2022 32,217 32,217 Analy8iB of grants Grants lo In8tltutlons 2023 Total funds 2023 Total funds 2022 Grants 100,0(Y) 100,000 (1.820) Tot812022 (1,820) (1,820) The current year grant is lo thè hospital lo purchas• a laser for the Urology Department. 10. Analysls of oxpendfture on charftable actlvttles Summary by fund typg Unrestrlcted funds Total 2023 Tolal 2022 Grants payab Wages & Salaries Depreciat¢on Accountancy & Independent Examination fees Sundry adMinistratn 100,000 $6,443 983 4.790 100.000 66A43 983 4.790 (7.&20) 47,116 729 4.665 163.112 163,112 50.690 Total 2022 50,690 1,690 Page 17
WREXHAM HOSPITAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 11. Analy818 of expgnditure by a¢tlvltl88 Aeti¥iti•s undertaken directly 2023 Grant funding of activitles 2023 Total funds 2023 Total funds 2022 Grants payable Wages and SaLgrie8 Depreciation AOUntaneY & Independent Examinatlon 1?,000 100,000 56.443 (1,820) 47,116 T29 56,443 4.79J 896 4,790 896 4,665 Sundry administration 63,112 100,000 163,112 50.690 Total 2022 52,510 (1,820) 50,690 12. 8taff costs 2023 2022 Wages and 6alarKg$ 56A43 47.116 56A43 47,116 Tho average number of persons enwloyed by the Charity during the year was as folkm.. 2023 No. 2022 Na Employees No gmploye8 recved remuneratvJn amunting lo more than £60.000 in 8Fth8r y8ar. Page 18
WREXHAM HOSPITAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 13. Trustegs, romuneratlon and gxp9ns95 During tho year, no TNslees received any remuneration or other beneffts (2022- £NIL). During the year ended 31 August 2023, no Trustee expense8 have been incurred f2022- £NILJ. 14. Tanglble flxed assets Property Flxtures and improvements Ilttlngs Offico equlpment Total C¢)st or valuatlon At 1 September 2022 AddFtrons 10.810 12.915 2,000 6,383 276 30.108 2.275 At 31 August 2023 10,810 14,915 6.658 32,383 Dwroci8tion At 1 Soplgmb8r 2022 Charge for the year 10.810 9.114 870 6.206 26,130 Al 31 August 2023 10,810 9,984 6.319 27,113 Not book value At 31 August 2023 4.931 339 6,270 Al 31 August 2022 3,801 177 3,9T8 Pag6 19
WREXHAM HosprrAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 1& Flxed a88Ot Invo8tm•nts Listsd Unllsted InVtments Investments Total Cost or valuation At 1 S8plember 2022 Additions Disposals al c05t RevalLtration8 2.898,380 1.240.240 11.$57.1901 324.683 106.623 3,005.003 1.240,240 172,524) 11.629,7141 324,683 At 31 August 2023 2,906,113 34,099 2.940.212 Net book value Al 31 August 2023 2,906.113 34,099 2,940.212 At 31 August 2022 2,898.380 106,623 3,005,LX13 16. Stocks 21r23 2022 Goods for resale 6.839 5,980 Page 20
WREXHAM HosprrAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 17. Creditors: Amounts falling du• within on• year 2023 2022 Trade creditors Other taxation and social s&urity Accruals and deferred inc¢)me 6.034 6.806 12.839 11,564 3,975 24,679 19,069 Page 21
WREXHAM HOSPITAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 18. Ststement of funds statement of funds - current year Balance at 1 S•ptomb•r 2022 8alanee at Galn81 31 Augu8t (Losses) 2023 Transfors inlout Incom• Exnditr• Unrestricted funds Designated funds Myra Jenkins Legacy 3,005,003 34493 {31,2041 (77,1721 9,092 2.940.212 Gengral funds General Funds 305,376 383,100 1402,6331 91,076 377.019 Total Unre8trfct8d funds 3,310,379 417,593 1433,7371 13.904 9.092 3.317.231 Restrlcted funds Sewn Hugh85 Legacy Radio Fund Small Restricted Donations 20.000 13.904 20,000 {13,904) 2.025 1&816 17,841 35,929 15,816 113,904 37,841 Total of funds 3.346.308 433,409 (433.7371 9,092 3.365.072 Page 22
WREXHAM HOSPITAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 18. Statèment of funds Icontlnued) Ststomont of funds - prlor yoar Balance al I S8Ptember 2021 8818nce at 31 Augusf 2022 Transfers in/oul Gain (Losses) Incon Expenditu Unrestrfcted funds Deslgnated fund8 Myra Jenkins Legacy 3.11&030 36.273 (32.21 T) 6,4 (120,533J 3,005,C3 G8n8ral fund8 Gener81 Fund8- all funds 274.270 159.253 (121, 697) (6,450) 30&376 Tolal Unrestrlctsd funds 3,389,3CQ 195,526 {7,914) (120,533) 3,310.379 Re8trleted funds Sewn Hughes Legacy Radio Fund Small Restrfcted Donatn8 20,000 13.904 13,942 (38) 2,025 2,025 35.967 (38) 35.929 Total of funds 3,425.267 195,526 (153,952) {120,533) 3,346,308 Page 23
WREXHAM HOSPITAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023 18. Statsment of funds (Contlnuedl Funds from the Selwn Hughes Legacy wer8 recewed by the League in 1985. Interest from the invested Sum was lo be used annually and specifically in respect of medicine for the elderty. On 24th August 2012 the League r8ceNed 8 gacY from the estate of Mrs M Jenkin$ in the ¥um £1,750.000-, a fiJrthei sum of £194.314 was receiv during the year lo 31st August 2012. The Committee have derAded lo treat this as a separate designated fund. which is known as the Jgnkins Fund. To this end, £1.850.000 was invested duiing August 2012 with fund managers with the 0.¢tive to produee an income stream together with some growth for distribution by the League in future years. A tran$fer has been made $0 that the balance in the fund agrees to the value of the investments. With effect from the 2017 aounts, it has been decided lo gather smaller donath)ns receNed that are for specifi'c purposes into a combined re$lricted fvnd. During the Trent year this has had incc¥ne of £15.816 generously given by B818 League of Friends towards medical equpment. 19. Analysis of net assets beiween funds Analysls of net a58ets between fund8 - current year Rg91TiGtod UnrgStrfGtgd funds funds 2023 2023 Tolal funds 2023 Tangible fixed assets Fixed asset investsnenl8 Current assets Creditors due wrthin one year 5,270 2,940.212 396.428 124,6791 6.270 2,940,212 434,269 (24.6791 37.841 Totsl 37.841 3,317,231 3.355.072 Page 24
WREXHAM HOSPITAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 19. Analysis of net assets between funds (contlnuedl Analysls of net as$ets bgiwegn fund$ - prior yoar Resti7Cted Unreslricted fund8 funds 2022 2022 Total funds 2022 Tangible fMd assets Fixed asset inv8Stments Current assets Creditors due wthin one yoar 1978 3.9T8 3,OO&C193 3,005,003 320.467 356,396 (19.069) (19.069) 3&929 Total 35,929 3,310,379 3.346,308 20. Roconclllatlon of net movom•nt In funds lo n•t cash flow from operatlng actlYRle$ 2023 2022 N8t incomelexpenditure for the year (8$ per Statement of Financial Activities) 8,764 (78,959) Adjustments for: Depreciation charges Decreaselllncreasel in stocks Decrease in debtors Decrea$ellincraas81 in creditors Revaluations 983 {869) 466 Ll,610 1324,6831 (12, 137) t20,316 Net cash provtd•d byllus•d in} opgrating activiti08 (310.185) 30,474 21. Analy818 of cash and ¢a6h ¢quEvalents 223 2022 Cash in hand 427.430 359,416 Total cash and cash equlvalents 427,430 350.416 Paga 25
WREXHAM HOSPITAL LEAGUE OF FRIENDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Analysis of chang•8 In n•t debt At31 August 2023 Septembei 2022 Cash flow8 Cash al bank ond in hand 350.416 77.014 427,430 350,416 77,014 427A30 Grant commitments The Charity has committed to addItnal grant awards of £203,209 whh will be accounted for onL irwoices are received. Related party transactions The Charity has not entered into any related paty transaction during the year, nor a the any oulslanding balances owing ben related parties and the Charity al 31 August 2023. Page 26