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2021-12-31-accounts

Birmingham Hospital Saturday Fund Medical Charity and Welfare Trust

Charity number: 502428

Annual Report Year ended 31[st] December 2021

BIRMINGHAM HOSPITAL SATURDAY FUND

MEDICAL CHARITY AND WELFARE TRUST

CONTENTS PAGE
TRUSTEES’ REPORT 1-3
TRUSTEES’ RESPONSIBILITIES 4
STATEMENT OF FINANCIAL ACTIVITIES 5
BALANCE SHEET 6
NOTES TO THE FINANCIAL STATEMENTS 7-9

BIRMINGHAM HOSPITAL SATURDAY FUND

MEDICAL CHARITY AND WELFARE TRUST

TRUSTEES’ REPORT FOR YEAR ENDED 31[st] DECEMBER 2021

CONSTITUTIONAL AND ADMINISTRATIVE DETAILS

TRUSTEES:

Mr Stephen G Hall FIPPM (Until 2[nd] March 2021) Mr Eric S Hickman

Dr Paul Kanas BM BS MRCP FFOM

Mr Michael Malone

Mr David J Read JP

Mr James Salmons

Mr David Nuttall MBA FCIPD Ms Freya Leontas

SECRETARY AND REGISTERED OFFICE:

Mrs K Lister MA

13[th] Floor, 54 Hagley Road, BIRMINGHAM, B16 8PE

ADVISERS:

Bankers:

Unity Trust Bank, Planetary Rd, WILLENHALL, WV1 9DG

Solicitors:

Pinsent Masons LLP, 55 Colmore Row, BIRMINGHAM, B3 2FG

Investment Manager:

Brewin Dolphin, 9 Colmore Row, BIRMINGHAM, B3 2BJ

Appeals Administrator:

Mrs K Lister MA

Registered Charity Number: 502428

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BIRMINGHAM HOSPITAL SATURDAY FUND

MEDICAL CHARITY AND WELFARE TRUST

TRUSTEES’ REPORT FOR YEAR ENDED 31[st] DECEMBER 2021 TRUSTEES’ ANNUAL REPORT

The trustees have pleasure in submitting their Annual Report and Accounts for the year ended 31[st] December 2021. The Trust held three Board meetings during the Financial Year at which grant applications were approved. The Board also met on one other occasion to discuss strategy and governance. All 4 meetings were virtual due to the restrictions imposed by the COVID-19 pandemic.

Structure, governance and management

The BHSF Medical Charity and Welfare Trust was established in 1972 and its operations are governed by the terms of its Trust Deed.

The minimum number of trustees is four. In selecting persons to be appointed as trustees, the trustees take into account the benefits of appointing a person who is able by way of his or her personal or professional qualifications to make a contribution to the pursuit of the objects or management of the Trust.

In the appointment of new trustees, a potential nominee is invited to attend a meeting of the trustees as an ‘observer’. This initiates a two-way process of enabling both the observer and existing trustees to learn more about each other before any appointment is finalised.

Objectives and activities

The principal objects of the Trust are to provide comforts and amenities for patients or staff in hospitals and medical charities, assist medical research, education and science and support charitable organisations concerned with the sick or disadvantaged.

Public benefit statement

The trustees confirm that they have referred to the Charity Commission’s general Guidance on Public Benefit in reviewing the Trust’s aims and objectives and have taken due regard of its content in confirming its grant-making strategy for the year ahead.

Achievements and performance

During the year donations were made to hospitals and medical charities amounting to £9,166 (2020: £14,632), after adjusting for donations pledged in previous years which have not been taken up and have therefore expired.

The Trust’s investments incurred gains of £34,493 during the year (2020: investment gains of £3,634).

Including grants awarded, support and governance costs, this has resulted in an overall surplus for the year of £21,949 (2019: deficit of £(14,571)).

Donations by the Trust

The trustees were pleased to be able to allocate charitable donations to benefit the work of NHS hospitals, medical research and charities. In keeping with the policy of making donations to a wide range of organisations, the trustees pledged donations totalling £11,787 during the year (2020: £14,857). Details are recorded on pages 8 to 9.

Risk Management

The trustees are satisfied that appropriate management systems and controls are in place to mitigate risks.

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BIRMINGHAM HOSPITAL SATURDAY FUND

MEDICAL CHARITY AND WELFARE TRUST

TRUSTEES’ REPORT FOR YEAR ENDED 31[st] DECEMBER 2021

Reserves Policy

It is envisaged that the reserves of the Trust may last in the region of 10 or more years which ensures the longevity of the charity, enabling it to support causes in the future. However, circumstances may arise which would result in a change to this time span.

Investment Policy

1. Aims and Objectives

The trustees’ investment objective is to ensure that the assets of the charity are sufficient to meet :-

2. Strategy

The trustees have considered the primary objective of the Reserves Policy is to make secure the reserves last for a period of at least 10 years in order to meet potential future demand for support from the Trust and have therefore decided that a low to medium risk investment strategy should be pursued.

3. Asset Allocation

The trustees may choose to seek advice from one or more qualified and authorised investment specialists when reviewing their asset allocation.

Asset allocation decisions will take account of the low to medium risk strategy adopted by the trustees.

During 2014, the trustees appointed Brewin Dolphin to manage the Trust’s investment portfolio and £320,000 was transferred to Brewin Dolphin. They are required to measure and to report on their performance against agreed benchmarks. The choice of investment specialists will be reviewed periodically - at least every 3 years.

Approved by the Board of Trustees on 4[th] July 2022 and signed on its behalf by:-

Dr P Kanas D J Read Trustee Trustee

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BIRMINGHAM HOSPITAL SATURDAY FUND

MEDICAL CHARITY AND WELFARE TRUST

TRUSTEES’ REPORT FOR YEAR ENDED 31[st] DECEMBER 2021

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare Financial Statements for each Financial Year that give a fair and true view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for the year. In preparing those Financial Statements the trustees are required to:-

The trustees are responsible for keeping accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the Financial Statements comply with the Charities Act 2011 and regulations made thereunder. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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BIRMINGHAM HOSPITAL SATURDAY FUND

MEDICAL CHARITY AND WELFARE TRUST

TRUSTEES’ REPORT FOR YEAR ENDED 31[st] DECEMBER 2021

STATEMENT OF FINANCIAL ACTIVITIES Yr end 31[st] December 2021

Note
Incoming Resources
Investment gains/(losses)
2
Donations
Total incoming resources
Resources expended
Charitable activities:
Grant making
3
Support costs
4
Total resources expended
Net incoming/(outgoing resources)
Accumulated fund as at 1st January 2021
Accumulated fund as at 31st December 2021		 Unrestricted Funds
2021
2020
34,493
3,634
72
549
34,565
4,183
9,166
14,632
3,450
4,122
12,616
18,754
21,949
(14,571)
331,723
346294
353,672
331,723		 Unrestricted Funds
2021
2020
34,493
3,634
72
549
34,565
4,183
9,166
14,632
3,450
4,122
12,616
18,754
21,949
(14,571)
331,723
346294
353,672
331,723
4,183
14,632
4,122
18,754
(14,571)
346294
353,672 331,723

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BIRMINGHAM HOSPITAL SATURDAY FUND

MEDICAL CHARITY AND WELFARE TRUST

TRUSTEES’ REPORT FOR YEAR ENDED 31[st] DECEMBER 2021

BALANCE SHEET 31[st] December 2021

----- Start of picture text -----
2021 2020
Note
Current Assets
Investments 2 359,506 335,013
Cash in Bank and in hand 5,479 13,818
364,985 348,831
Creditors
Amounts falling due within one year 5 (11,313) (17,108)
Net Current Assets 353,672 331,723
Represented by:
Accumulated Fund 353,672 331,723
----- End of picture text -----

Approved by the Trustees and authorised for issue on 4[th] July 2022 and signed on their behalf by:

Dr P Kanas D J Read Trustee Trustee

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BIRMINGHAM HOSPITAL SATURDAY FUND

MEDICAL CHARITY AND WELFARE TRUST

TRUSTEES’ REPORT FOR YEAR ENDED 31[st] DECEMBER 2021

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

Basis of accounting

The Financial Statements have been prepared under the historical cost convention. The accounts are in accordance with the Statement of Recommended Practice 2005 (revised 2008) Accounting and Reporting by Charities.

Fund accounting

General unrestricted funds comprise accumulated surpluses and deficits on general funds and the cumulative realised and unrealised gains on investment. They are available for use at the discretion of the trustees in furtherance of the general charitable activities.

Taxation

No Corporation Tax has been provided in theses accounts because the income of the charity is within the exemptions granted by Sections 466 to 493 of the Corporation Taxes Act 2010.

Income

Donations are accounted for when received or where the donor has a legal obligation to complete the donation at the year end. Investment income is included in the accounts when it is receivable.

Legacy income is recognised when the charity has been notified of receipt and the amount can be assessed with reasonable certainty.

Resources expended

Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional; such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment but not accrued as expenditure.

Grants which have not been claimed within the time levels set out in the grants letters are added back to funds through a credit to resources expended.

Support costs are those costs incurred directly in support of expenditure on the objectives of the charity. Governance costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.

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BIRMINGHAM HOSPITAL SATURDAY FUND

MEDICAL CHARITY AND WELFARE TRUST

TRUSTEES’ REPORT FOR YEAR ENDED 31[st] DECEMBER 2021

NOTES TO THE FINANCIAL STATEMENTS

2. INVESTMENT GAINS OR LOSSES

Investment gains or losses for the the year include such dividends and interest and movements in the capital value of the assets in the investment portfolio. Investment gains or losses are presented net of investment management charges as follows:

g g 2021 2020
Investment Income 9,222 9,286
Capital appreciation/(depreciation) 28,805 (2,211)
Investment management expenses (3,534) (3,441)
Investment gain/(loss) 34,493 3,634
3.
DONATIONS APPROVED IN 2021		 £
BHSF Company charitable activities 524
For staff activities
Better understanding of Dementia for Sandwell 450
Regular fitness and stretch yoga sessions for members
Handicapped Children’s Action Group, Grimsby 750
Specialist equipment for two Birmingham children
Muscular Dystrophy Support Centre, Coventry 1,000
Pro-care Medica chair
Birmingham Centre for Arts Therapies 2,000
Regular drama music and play sessions for those referred and affected by trauma due to Covid 19
Haemochromatosis UK, Peterborough 900
Printed information materials to distribute through Birmingham hospitals to families living with the condition
Autistica, London 640
Travel costs for parent-led therapy trial for children with learning disabilities
John Taylor Hospice, Birmingham 978
Training equipment to maintain and improve clinical skills
Cancer Support UK, London 1,000
Cancer kits for chidren receiving treatment in the West Midlands
REACT, Kew, Surrey 552
Sensory toys for Birmingham child with Hydrocephalus and development delay
Acorns Children’s Hospices, West Midlands 1,713
Three sets of oxygen monitors
Tommy’s, London 500
Consumables for research trials project at Warwick University
Walsall Society for the Blind 780
Magnification Aids

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BIRMINGHAM HOSPITAL SATURDAY FUND

MEDICAL CHARITY AND WELFARE TRUST

TRUSTEES’ REPORT FOR YEAR ENDED 31[st] DECEMBER 2021

NOTES TO THE FINANCIAL STATEMENTS

Totals
Less donations approved and pledged in prior years but expired
All grants made to charitable institutions
4.
SUPPORT COSTS
Outsourced Costs
Postage and stationery
Insurance and licences
Telephones
Bank charges
Miscellaneous
Totals		 2021
£
3,210
0
48
120
72

3,450		 11,787
2,621
9,166
2020
£
3,600
16
313
120
72
1
3,450 4,122

Premiums of £48 (2020: £313) were paid on a professional indemnity policy to protect the charity and trustees from loss arising from neglect or defaults of trustees.

It was agreed by the trustees that, as the charity gross income is lower that £25,000 (Excluding investment revaluations), there is no need for an audit or independent examination of the Trust's Statement of Accounts.

No remuneration or expenses were received by the trustees.

5.
CREDITORS: Amounts falling due within one year
Donations pledged but not paid
Accruals		 2021
£
7.983
3,330
11,313		 2020
£
13,372
3,736
11,313 17,108

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