THE LEAGUE OF FRIENDS OF THE BRECOIY HOSPITAL TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL INDEX TO THE FINANCIAL STATEMENTS for thc year ended 31 March 2024 Page Legal and administrative details Report of the Trustees Report of the independent examiner Statement of financial activities B21ance sheet Note5 to the accounts
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Presidenl The Hon Dame Shan Legge-Bourke DCVO Chairnian Dr Gill Todd Secretary Mrs P Morgan Treasurer Col R Stafford-Tolley Address of the Truslees Cilgarenydd Pontfaen Brecon Powys LD3 9ND Registered Charity Number 703090 Independent Examiners WJJames&Co Bishop House 10 Wheat Sireet Brecon Powys Bankers HSBC Bank plc 5 High Street Brecon Powys Page I
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL REPORT OF THE TRUSTEES for the year ended 31 March 2024 STRUCTURE, GOVERNANCE AIYD MANAGEMENT The charity is constituted entirely of volunteers. Trustees are appointed when an office falls vacanl, if and when a willing volunteer can be found. Criminal Records Bureau clearances are sought where necessary. No forn)al training is offered. It is norn]al for the new and old Treasurers to work in tandem for a period of iwo months on a change in this position. Governing Document The charity Sjnctions in linc with the Charilieb Commission guidance and particularly that of public benefil about which the Trustees are aware and have complied in accordance with the Commission's guidance. The charity has been governed by a document daled September 1985 as amendcd on 15 May 1990 and 16 May 21)0 l entitled "Rules and Objects of the League of friends of the Brecon Hospital" This has been updated and agreed by the Committee and approved by ihe Charity Commission as a Constitution effective from September 2020. The prime object of the charity is to assist with the ¢haritable work of the said H05Pital by supporting patients and fornier patients of Brecon Hospital who are sick, convalescent, disabled, handicapped. infTh or in need of financial assislance. Organisation The charity is conbtituled by an elected committee from the members of the League. It Consists of a Chairperson, Secretary and Treasurer and not less than 20 or more than 35 other members. At every Annual General Meeting the Committee retire, but are eligible for re-election. The commillee elects a Chairperson and appoints a Treasurer from their number and a Secretary who may or May not be a committee member. At least 4 meetings of the full committee must be held each year. A qU0M of I S is required to nSact business. The committee has the power to conduct the business of the League where the rules do not require these to be exercised by the League in General Meeting. The Trnstees who have served during the year and since the year-end are set out on page l. Objectlves and aetivities for the pub]ic benefit In addition to the stated prime object, the rnain objects relevant to the activilies of the charity are:. a) To raise funds and to invite and receive contributions from any person or persons or Organisaiions whatsoever by way of sub5CriPtion, donalion or otherwise. b) To supplement the service provided by the Brecon Hospital for the health welfare and comfort of the patients therein by the provision of facililies, buildings and equipment which may be required for the trealment of such patients or for the efficient nmning of the hospital. ) To piovide or assist in the provision of amenities in the Brecon Hospital for patients and staff, including the provision and rnnning of the hospital shop. The main aclivities supporting these objects are:_ a) Fundraising.. An annual street collection in the towns of Brecon and Sennybridge. A Summer Fayre for the sale of goods given for the occasion. These require effort by a small group of volunteers but do nol yield very much. Their primary purpose is lo keep the Charity in the local publio eye and to encourage legacies. Page 2
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL REPORT OF THE TRUSTEES {CONTINUED) for lhe year ended 31 March 2024 b) A hospitsl shop is nonnally run on a weekday basis for the convenience of paiients, staff and visitor8. This has not been open during the most part of this financial year for the sale of convenience items appropriale to patienis/slatf, and the remaining refreshment stock has either been gifted or destroyed. We have, to the latter part of the year re-sto¢ked and re-opened the shop. c) A liquid refreshment machine selling hot drinks" has been removed. The hospital has inveqted in their own hot drinks machine for which we have not responsibility. The trnstees confirn) that they have referred to the Charity Commission's guidance on public benefit when reviewing the Trust's aims and objectives, in planning future activities. and settingF thc grant making policy for the year. Grant making pollcy Each request is treated on its merits. with most Jnedical and non-medical iten]s placed in a priority order and the overall payment capped within an agreed limit based on a prediGted annual income. Thi5 rcmains unchanged. Achievements and performance The investment into the COIF Investment Fund continues to provide encouraging rebjrns, and has been Closely monitored. In year income gained has been consisient with previous years. Fundlng policy Tlie TsleeS continue to exercise proper budgetary control. The League continues to be regarded as an essential source that miglit assiqt with any shortfall in the Local Health Board Budgei, in particular for Capital projects, The preferred option has been for the Hospital to submit in writing a wish list by l April each year, in order that the Management Committee can consider them in advance of the Annual General Meeting. With a need to place a cap each year on in year expenditure, the wish is a dynamic document with iten]s listed in priority order thus enabling the money available to be spent on the most needcd items. This was defcffed last year but has now recommenced and we will continue to review the list as further money above any capping becomes available, Financial revieH' No specific reserves are held. I"he League is reliant oll the income from its Flag Day. Autumn Fayre. the Shop and interest from its National Savings Bonds and its. Deposit Account and Investment Account with the Charities oiricial Investment Fund. Periodic reports continue lo be made to the Management Committee. and this ensurc that a close watch 1% kept on expenditure, consislent with money held and in year grants and donations, in order to assist with planned and ad hoc i'equesls. Investment pollcy and performance We have continued to hold £IOO,000 of Income Bonds, the interest from which is paid d1ctlY into the HSBC currenl account. This is infornially regarded as a general reserve without specific designation. In the current year we made a gain on our investments of £39.312 and with interest of £17,185 paid into our current account to meet hospital equipment Costs. The value of the original investment of £300,000 (in 2015) is now £473,609.69 at 31 March 2024. Page 3
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL REPORT OF THE TRUSTEES {CONTINUED) for the year ended 31 Mareh 2023 Plans for future perlods The Tntees, and the Managethent Committee, are strongly committed to supporting the Brecon Hospital for as long as there is a need. They are keen to examine all requesLs for equipment that have been ihrough a thorough business appraisal. as long as the principle is maintained that repair. maintenance and training in relation to the equipment is not the responsibility of the League. The Trustees will continue Éo give whole-hearted support to any viable.herneS that enhance the current services available at the hospital. Rewrves policy The Trnstees continue lo take the view that monies received should be used. wherever possible, and where applicable for the itcms for which they were donated, on a straightforward income and expenditure basis. The use of the Reserves, thal is the Income Bonds and the COIF Charities lllvc8tment Fund, will not be considered for use, except where decmed appropriate, to fund or part fund a larger requirement when il is not possible to meet this fron] the Cuent Account, into which the interest accrued from all of the investments is deposited. Risk Mana¥ement The Trustees see no real risks. Nevertheless systems have been put in place to ensure regular monitoring, audil and reporting to obviate any such possibility. General Dats Protection Regulations. The Trnstees have implemented changes for Data Protection and have briefed the management commiltee. A policy has been agreed and adopfrd. Trustees. responsibilities in relation lo the financfial stal¢ments The trustees are responsible for preparing the Trnstees, Annual Return and the financial stalements in accordance witli applicable law and Unikd Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclice). The law applicable to charities in England and Wales requi$ the trustees to prepare fUnCIal statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its flnancial position at the end of the year. In preparing those fmancial statMents, the trustees are required to: Select suitable accounting policies and then apply them consistenily,. Make judgements and estimates that are reasonable and pdent. State whether applicable accounting %tandards and statements of recommended practice have been followed subject to any departu5 disclosed and explained in the fUnCIal statements- and PrepaTe the fjnancial statement% on the going concern basis unles8 It is inappropriatc to presume that the charity will continue in businLss. The trnstees are responsible for kceping accounting records which disclose with reasonable accuracy at any time the financial po.4ition of the charity and which enable them to ensure that the financial statements comply wilh the Chariticg Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. Financial statemcnls Are prepared and presented at each commitice meeting. The tru%tees are responsible for safeguarding the asseL% of ihe charity and hence for taking reasonable si¢ps for the plention and detection of fraud and other irregularities. Approved by the trustees and signed on .. on their behalf by . Dr Gill Todd Chairnian Page 4
THE LEAGUE OF FRIENDS OF THE BRECOIY HOSPJTAL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LEAGUE OF FRIENDS OF THE BRECON HOSPITALS I report to the charity INslees on my examination of the a¢¢ounts of the Charity for the year ended 31 March 2024, which are Set out on pages 6 to I l. Responsibillties and basis of report As the charity's trustees you are responsible for the preparation of the accounts in a¢¢ordance with ihe requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity's accounts caThied out under section 145 of the Act and in carrying out my examination I have followed the Directions given by the Charily Commission under 8eclion 145(5)(b) of the Act. Independent examiner's statement I have compleled my examination. I confirni that no material matters have come lo my attention in comieclion with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by seclion 130 of the Act. or the accounts do not accord with tho%e records. or the accounts do not comply with the applicable requirements concerning the forn and ¢onlent of accounts set oui in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'tNe and faTr view, Ivhich is not a matter considered as part of an independent examinalion. I have no concerns and have come across no other malters in conne¢tion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the a¢¢ounls lo be reacl)ed. J M Roderick Bsc, ACA WJJames&Co Chartered Accountants Bishop House 10 Wheal Street Brecon Powys )5 Ho 2025 Page 5
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL STATEMENT OF FINANCIAL ACTIVITIES (ineluding income and expenditure account) for the year ended 31 March 2024 Restricted Unrestrieted funds funds Total 2024 Totsl 2023 Notes Income and endowments Donations and legacies 8,496 8,496 3,043 Other trading activities 2.348 2,348 1,884 Investment income and intercst 17,185 17,185 17,556 TOTAL INCOME 28,029 28,029 22,483 Expendlture Costs of raising fullds 61 61 97 Expenditure on charilable aciivites Grants payable Governance cosL8 24,057 24,057 265,065 2,682 2,682 2,722 TOTAL EXPEliDITURE 26,800 26.800 267,884 NET (EXPLI%DITURE)IINCOME BEFOR (LOSSES)/GAINS ON INVESTMENTS 1,229 1.229 (245.401) Net (losses)/gains on investment assets 39,312 39,312 (17,081) NET MOVEMENT IN FUIYDS 40,541 40,541 {262,482) Reconciliotion offvnds." Balances brouLFht fonvard at l April 2023 623,672 623,672 886,154 Balances Caled forward at 31 March 2024 664,213 664,213 623,672 Page 6
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL BALANCE SHEET as at 31 March 2024 2024 2023 FIXED ASSETS Investments Note 573,610 534,298 CURREIYT ASSETS Short tenn dep051ts Cash at bank and in hand 26.056 66,017 26,056 64,718 92,073 90.774 CREDITORS; Amounts falling due within one year io 1,470 1,400 NET CURRENT ASSETS 90,603 89,374 TOTAL ASSETS LESS CURRENT LIABILTTIES 664,213 623,672 FUNDS Unrestricted Restricted 664,213 623,672 664,213 623.672 Inby Jiv Approved by the Board of Trnstees on......-............... . and signed on its behalf by R stsfford-Tolley Trustee The notes on pages 8 to I I forni part of these accounts. Page 7
THE LEACUE OF FRIETrIDS OF THE BRECON HOSPITAL NOTES TO THE FINANCIAL STATEMENTS for the )'ear ended 31 March 2024 ACCOUNTING POLICIES The financial statements have been prepared in accordance with the Charities (Accounts and ReporL8) Regulations 2008 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 issued in October 2019 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The ttvst constitutes a public benefit entity as defined by FRSIO2. Accounting convention The financial statements are prepared on a going concern basis under the historical cost convention as modified by the revaluation of investments to market value. The financial statemenls are presented in sterling which is the thctional CuenCY of the charity. Investments Investments are stated al market value at the balance sheet date, with gains or losses on revaluation being recognised in the StatemLnt of Financial Activities. Incon)ing resources All income 1% recogniqed in the Ststcmenl of FinanGial Activities when the conditions for receipt have bcen met and there is reasonable assurance of receipl. Donations and collections Donations, collections and all voluntary incon]e is accounted for gro&s when received. Expenditure All expenditure is accounted for gross, and when incurred. DONATIONS AND LEGACIES 2024 2023 Unrestricted:_ Donations and collections Funeral donation5 GÉft Aid Menibership sub%LriPtions 5,906 1.580 190 820 ,555 630 178 680 8,496 3,043 OTHER TRADING ACTIVITIES 2024 2023 (Loss)/profit on operation of vending machine (see note 4) (Loss)/profit on operation of hospithl shop (see note 4) Autumn Fayre Flag Day Open Garden Coffee Morning Summer Fayre Conc¢rt 24 345 (39) (346) 424 497 1,299 49 435 695 849 2.348 1,884 Page 8
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 PROFIT ON TRADING ACTIVITIES 2024 2023 Vendfing machine Sales Cost of sales 92 68 31 70 ProfiV(loss) Hospital shop Sales Cost of sales 24 (39) 1042 697 170 516 ProfiV(loss} 345 (346) FUNDIL41SING COSTS Unrestricted Funds 2024 2023 Autumn Fayre Coffee Morning Open Garden Summer Fayre Concert io io 77 30 30 10 21 io 21 61 61 97 GRANTS PAYABLE Restrieted Fund UDrestricted Funds 2024 2023 Powys Teaching Health Board: Conlribution to Car Park 10 grants (2023:8} to Brecon War Memorial Hospital 250.000 24,057 24.057 15,066 Total institutional grants 24,057 24,057 265,066 GOVERNANCE COSTS Unrestricted Funds 2024 2023 Independent examination fee Insurance Other costs 1,534 900 248 1,534 900 248 1,400 855 467 2.682 2,682 2,722 Page 9
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL IYOTES TO THE FINANCIAL STATEMEY4TS for the year ended 31 March 2024 INVESTMENTS 2024 2023 Unli.Yted.. National Savings Income Bonds loo,000 i 00.000 Listed.- COIF Charities Investmeni Fund 473,610 434,298 573.610 534,298 Li.Fted iniyestments.. Market value at l April 2023 Disposal proceeds Realised and unreali5ed (losses)Igains in the year 434,298 451,379 39,312 (17,081) Market value at 31 March 2024 473,610 434.298 Historical co%t at 31 March 2024 305,768 305,768 SHORT TERM DEPOSITS 2024 2023 COIF Deposit Account 26,056 26.056 io. CREDITORS: AMOUN'fs FALLIIYG DUE WITHIN ONE YEAR 2024 2023 Accrued expen%es 1,470 1,400 1,470 1,400 Page 10
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 Mareh 2024 ii. AiYALYSIS OF IYET ASSETS BETWEEN FUIYDS Restricted fund5 Unrestricted funds Total funds Fund balances at 31 March 2024 are represenied by.. Fixed asset investments Current assets Current liabililies 573.610 92,073 (1,470) 573,610 92,073 (1,470) 664,213 664,213 12. REMUIYEIL4TIOI¥4 OF TRUSTEES AND CONNECTED PERSONS No remulleration has been paid to Trustees or connec*d persons during the year. £nil (2023.. £nil) has been paid to any {2023". nil) Trustees in respect of expenses T¢imbursed for expenditure inCued on behalf of The League of Friends of the Brecon Hospital during the year. 13. RELATED PARTY TRANSACTIONS There were no related i)arty transactions that require disclosure in these ftnancial statements. Pagell