Charlty number: 510310 FRIENDS OF LINCOLN HOSPITALS ASSOCIATION UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION CONTENTS Page Reference and Administrative Detalls of the Charity, its Trustees and Advisers Trustees. Report Independent Examinerfs Report Statement of Financlal Activities Balance Sheet Notes to the Financial Statements 8-15
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Trustees Mr G Hewson Mrs L Lord Mrs T Robinson Charity registered number 510310 Principal office 152 8oultham Park Road Lincoln LN6 7TF Page 1
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Trustees present their annual report together with the financial statements of the Charity for the period 1 October 2023 to 30 September 2024. Objectives and activities a. Policies and objectives To benefit the patients and staff of the hospitals of Lincolnshire and generally support the charitable work of the hospitals by supplying equipment and facilities which cannot be provided out of public funds. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit. including the guidance 'Public benefit: running a charity (P821'. Achievements and perfomiance Main achievements of the Charity During the year ended 30 September 2024 the charity assisted local hospitals. All grants awarded in the year ended 30 September 2024 have been recognised in these financial statements. The charity trustees have agreed to support smaller worthwhile projects which fall outside the remit of the National Health Service. Financial review Going concern After making appropriale enquiries, Ihe Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves policy The Trustees regularly review the reserves of the charity and its present income streams. The Charity has no fixed commitments and considers each request for monies from its funds on an individual basis. The requests come from various departments of the Lincoln Hospitals and decisions are made bearing in mind the aims of the Charity. The Trustees may agree to fund the requests in full or in part. The Trustees feel it is prudent not to commit to more than 20Yo of its reserves in any one year unless there are exceptional circumstances relating to a request. Once funds are cornmitted the Trustees monitor them closely in relation to their final instruction for payment which can sometimes involve the relevant hospital's purchasing department. The Trustees are made aware of how much of the funds are committed at any one time. Page 2
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Structure, governance and management Constitution Friends of Lincoln Hospitals Association is a registered charity, number 510310, and is constituted under a Trust deed. The Charity is controlled by its goveming document, a deed of trust. and constitutes an unincorporated charity. The Charity is consts'tuted as a Trust Association. It is govemed by its Rules as adopted on 5 July 1948 and amended on S June 1980 and 2 November 1986. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. New Trustees are selected by the board. c. Organisational structure and decision4naking policies The Charity is govemed by its Board of Trustees who decide on the overall running and governance of the Charity. Decisions on the allotment of monies is undertaken by the Friends of Lincoln Hospitals Association Committee. The committee includes all Irulees as well as Other stakeholders. d. Pollcles adopted for the induction and training of Trustees All Trustees receive reference material from the Charity Commission website. Specific items relating to the Charity are discussed as a Board in the trustee meetings. e. Financial risk management The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity. and are salisfied that systems and procedures are in place to mitigate exposure to the rnajor risks. Page 3
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 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). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to= select suitable accounting policies and then apply them consistently., observe the rnethods and principles of the Charits'es SORP {FRS 102); make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements: prepare the financial slatements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitvs transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial stalements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Twst deed. 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. Approved by order of the 29 April 2025 and signed on their behalf by.. rnembers the board of Trustees on koy Mr G Hewson Mrs L Lord Page 4
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Independent Examiner's Report to the Trustees of Friends of Lincoln Hospitals Association I'the Charity,) I report to the charity Trustees on my examinats'on of the accounts of the Charity for the year ended 30 September 2024. Responsibilities and Basis of Report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the 2011 Act,). I report in respect of my examination of the Charitys accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission uncler section 145(51(b) of the 2011 Act. Independent Examlner's Statement Since the Charitvs gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confim that l am qualified to undertake the examination because l am a member of Instilule of Chartered Accountants in England and Wales, which is one of the listed bodies. Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practs'ce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} in preference to the Accounting and Reporting by Charities= Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examinalion. I confim that no matters have come to my attention in connection with the examination giving me cause to believe Ihat in any material respect: accounting records were not kepl in respect of the Charity as required by section 130 of the 2011 Act., or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charits'es (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper undersianding of the accounts to be reached. Signed: 4&th Dated.. 29 April 2025 Valerie Steward Bsc FCA FCCA FRSA Greenfield Farm, 23 West Street. Hibaldslow, North Lincolnshire, DN20 9NY Page 5
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Other trading activities Investments 318,000 32,614 7,333 318,000 32,614 7,333 671 26,550 4,870 Total income 357,947 357,947 32,091 Expendlture on: Raising funds Charitable activities 24,974 14.296 24,974 14.296 16,042 2,959 Total expenditure 39,270 39,270 19,001 Net movement in funds 318,677 318.677 13,090 Reconciliation of funds: Total funds brought forward Net movement in funds 7,185 191,344 318,677 198,529 318,677 185,439 13,090 Total funds carrled forward 7,185 510,021 517,206 198,529 The Statement of Financial Activities indudes all gains and losses recognised in the year. The notes on pages 8 to 15 form part of these financial statements. Page 6
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Note Flxed assets Current assets Stocks 2.313 60,120 454,773 2,981 Debtors Cash at bank and in hand 195,548 517,206 198, 529 Net current assets 517,206 198,529 Total assets less current liabllities 517,206 198, 529 Net assets excludlng pension asset 517,206 198,529 Total net assets 517,206 198,529 Charity funds Restricted funds Unrestricled funds 7,185 510,021 7, 185 191,344 Total funds 517,206 198,529 The financial statements were approved and authorised for issue 29 April 2025 and signed on their behalf by: by the Trustees on Mr G Hewson Mrs L Lord The notes on pages 8 to 15 forni part of these financial statements. Page 7
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 General infomiation Friends of Lincoln Hospitals Association is a registered charity in England and Wales (number 510310) with the registered office address being 152 Boultham Park Road, Lincoln. LN6 7TF. Further delails regarding the activities of the charity can be found in the trustees report. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance wth the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fairf view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Friends of Lincoln Hospitals Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to eslimate wth sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left lo them (through knowledge of the exislence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question wll not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expecled cash amount to be distributed lo the Charity, can be reliably measured. Income tax recoverable in relation to investment income is recognised al the time the investment income is receivable. Page 8
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies (continued) 2.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is 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 unclertaking each activity- Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable actiwties is incurred on directly undertaking the activities which further the Charitls objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made 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. All expenditure is inclusive of irrecoverable VAT. 2.4 Interesl receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity- this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.5 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost indudes all direct costs and an appropriate proportion of fixed and variable overheads. 2.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. prepaentS are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.8 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 9
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accounting policies {continued) 2.9 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income. gains and losses are allocated to the appropriate fund. Income from donations and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations Legacies 81 317,919 81 317,919 671 Total 2024 318,000 318,000 671 Tot812023 671 671 Page 10
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Income from other Irading activities Income from non charitable trading activities Unrestricted funds 2024 Total funds 2024 Total funds 2023 Shop Income 32,614 32,614 26,550 Total 2023 26.550 26. 550 Investment Income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Investment income 7,333 7,333 4,870 Tot812023 4,870 4,870 Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 30 September 2024. no Trustee expenses have been incurred (2023 - £NIL). Stocks 2024 2023 Finished goods and goods for resale 2,313 2,981 Page11
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Debtors 2024 2023 Due within one year Prepayments and accrued income 60,120 60,120 Page 12
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 statement of funds Statement of funds - current year 8alance at 30 September 2024 8alance at 1 October 2023 Income Expenditure Unrestricted funds General Funds 191.344 357,947 (39,270) 510.021 Balance at 30 September 2024 Balance at 1 October 2023 Income Expenditure Restricted funds Betty Hutchinson Trust 7.185 7,185 Total of funds 198,529 357,947 (39,270) 517,206 General Funds constitute those funds held by the charity to be spent to further the charitable objective in any way. The restricled fund donation from the Betty Hutchinson Trust is to be spent to further the best interests of the oncology department al the Lincoln County Hospital. Page 13
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Statement of funds (continued) Statement of funds - prior year 8alance at 30 September 2023 Balance at l October 2022 Income Expenditure Unrestricted funds General Funds 178,254 32,091 (19,001) 191,344 Restrlcted funds Restricted Funds - all funds 7, 185 7,185 Total of funds 185, 439 32,091 (19,001) 198,529 10. Summary of funds Summary of funds - current year Balance at 30 September 2024 Balance at 1 October 2023 Income Expenditure General funds Restricted funds 191.344 7.185 357,947 (39,270) 510,021 7,185 198,529 357,947 (39,270) 517,206 Page 14
FRIENDS OF LINCOLN HOSPITALS ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 10. Summary of funds (continued) Summary of funds - prior year 88lance at 30 September 2023 Balance at 1 October 2022 Income Expenditure General funds 178,254 7.185 32,091 (19,001) 191,344 7, 185 Restricted funds 185,439 32.091 (19.007) 198,529 11. Analysis of net assets between funds Analysls of net assets between funds - current period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Current assets 7.185 510,021 517,206 Total 7,185 510,021 517,206 Analysis of net assets between funds - prlor perlod Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Current assets 7,185 191,344 198,529 Total 7,185 191,344 198,529 12. Related party transactions The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 30 September 2024. Page 15