THE LEAGUE OF FIUENDS OF THE BRECON HOSPITAL TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL INDEX TO THE FL¥4ANCIAL STATEMEIYTS for the year ended 31 March 2025 Page al and administrative details Report of the Trustees Report of the independent examiner Statement of financial activities Balance sheet Notes to the accounts
THE LEAGUE OF FIUENDS OF THE BRECON HosprrAL 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE ThFORMATION Trustees President The Hon Dame Shan Legge-Bourke DCVO Chairman Dr Gill Todd Secretary Mrs P Morgan Trcasurer Col R Stafford-Tolley Address of the Trustees Cilgarenydd Pontfaen Brecon Powys LD3 9ND Registered Charity Number 703090 Independent Examiners WJJames&Co Bishop House 10 Wieat Street Brecon Powys Bankers HSBC Bank plc 5 High Street Bre¢on Powys Page I
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL REPORT OF THE TRUSTEES for the year ended 31 March 2025 STRUCTURE, GOVERNAIYCE AND MAI¥4AGEMENT The charity is constituted entirely of volunteers. Twstees 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 fonnal training is offered. It is nornial for the new and old Treasurers lo work in tandem for a period of two montbs on a change in this position. Governing Doeument The charity functions in line with the Charities Commission guidance and particularly that of public benefit. about which the TTrteeS are aware and have complied in accordance with the Conimission's guidance. The Charity has been governed by a documeni dated September 1985 as amended on 15 May 1990 and 16 May 2001 entitled "Rules and Objects of the League of Friends of the Brecon Hospital" This has been updated and agreed by th¢ Conunittee and approved by thc Clwity Coullnission as a Constithtion ¢ff¢ctiv¢ from Septem 2020. The prime object of the charity is to assist with the charitable work of the said Hospital by supporting patients and fonner patients of Brecon Hospital who are sick, conval¢s¢ent, dAsable4 handicapped, infm or in need of financial assistance. Organl8ation The Charity is constituted by an elected committee from the members of the League. It consists of a ChaiTperson, Secretary and Treasurer and not less than 20 or more than 35 other members. At every Annual Generdl Meeting the Conm]ittee retire, but are eligible for re-election. The c<Jmmitt¢e ¢Its a Chairperson and appoints a Treasurer from their nunLber and a Secretary who may or rnay not be a Committee member. At least 4 meetings of the full committee must be held each year. A quorum of15 is required to trdnsact 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 MeeL•ng. The Trnskes who have served during the year atsd since the year-end are set out on page l. Objectives and actlvities for the publie benefit tn addition to the stated prime objecL the n]ain objects relevani to the activities of the charity are.'- a) To rdise funds and to invite and receive contribution8 from any pcrson or persons or organi8ations whatsoever by way of subscription. donation or othLrwi%c. b) To %upplement 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 treatment of such patients or for the efficient nllming of th¢ hospital. ¢) To provide or assist in the provision of amenities in the Brecon Hospital for patients and stsff, including the provision and running of the hospital shop. The maill activities 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 not yield very much. Their primary purpose is to keep the charity in the Eocal public eye and to encourage legacies. Page 2
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL REPORT OF THE TRUSTEES (CONTINUED) for the year ended 31 March 2025 b) A hospital shop is nornllY run on a weekday basis for the convenience of patients, staff and visitors. This has not been open during the m08t part of this fiTVdncial year for the sale of convenience items appropriate to patientslstaff, and the remaining refrets'hmcnt stock has either been ¥ifted or destroyed. We have. to ihe latter part of the year re-stocked and re-opened the shop. c) A liquid refreshment machine selling hoi drinks bas been removed. The hospital has invested in their own hot drinks machine for which we have no responsibiliiy. The trustees confum that they have referred to the Charity Commission's guidance on public benefit when reviewing the Trust's aims and objectives, in planning tle activities, and setting the grant making policy for the Grant D]aking policy Each request is treated on its merits, with most medical and non-medical items placed in a priority order and the overall payment ¢apped within an agreed limit based on a predicted annual income. This remains unchanged. Aehievements and performance The investment into the COIF Investment Fund Continues to provide encouraging returns. and has been closely monitored. In year income gained has ]en consistent with previous years. Fundlng pollcy The Trnstees continue to exercise proper budgetary control. The League continues to be regarded as an essential source that might assist with any shortfall in the Local Health Board Budget, in particular for Capital projects. The preferred option has been for the Hospital to submit An writing a wish list by ISI ApTiI each year, in ord. 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 items listed in priority order thus enabling the Money available to be spent on the most needed items. This was deterred last year but now recommenced and we will continue to review the list &s further money above any capping beMeS available, Financial review No specific reserves are held. The League is reliant on 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 cRltieS Official Invesljnent Fund. Periodic rqrtS continue to be made to the Management Comn]ittee. and this ensures that a close viatch is Lept on expellditure, consistent with money held and in year grants and donations, in order to assist withplanned and ad hoc requesls. Investment policy and performance We have continued to hold £IOO.000 of In¢ome Bonds, the inter¢st from which is paid directly into the HSBC Cutrent account. This is infornially regarded as a general reserve without speciftc designation. In the cuent year we made a loss on OUT investments of £22,067 and with interest of £17,879 paid into our current account to meet hospital equipment costs. The value of the original investment of £300,000 {in 2015) is now £451.543 at 31 Mah 2025 Page 3
THE LEAGUE OF FiUEIW4DS OF THE BRECON HosPAL REPORT OF THE TRUSTEES (COiYTINUED) for the year ended 31 March 2025 Plans for future periods The TNstees, and the Management Conunittee, are strongly committed to supporting the Brecon Hospital for as long as there is a need. They are keen to examine all requests, for equipment that have been through a thorougb business apprdisal. 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 to give whole-hearted support to any viable schemes that enhance the current services available ai the ho%pital. Reserves policy The Trustees continue to take the view that monies received .thould be u8cd, wherever possil)le, and where applicable for the items for which they were donated, on a straightforward incomc and expenditure basis. The use of the Reservcs, that is the tncome Bonds and the COIF Charities Invesiment Fund, will not be considered for use, except where dcemed appropriate. to fijnd or part fijnd a larger requirement when it 1% not po&sible to meet this from the Current Account, into which the interest accrued from all of the investments is detio.4ited. Risk Illanagement The Trustees see no real risks. Neverthele&8 Systems have been put in place to ensure regular monitoring, audit and reporting to obviate any such possibilily. General Dats Protection Regulations. The Trustees have implemented changes for Data Protection and have briefed the management committee. A policy has been agreed and adopted. Tru$tee$' responsibilities in relation to the financial statements Tlie irnstees are responsible for preparing the Twstees, Annual Rern and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the trustees to prepare financial 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 pollv tion at the end of the year. In preparing those financial statements, the ttvstees are requiyd to: Select suitsble accounting policies and then apply them consistendy,. Make judgements and estimates that are reasonable and prudent: Stale whether applicable accounting standards and statements of recommended prdctice have been followed subjwt to any departures disclosed and explained ill the fjnancial statements. and Prepare the fmancial statements on the goin¥ concern basis unle&s it is inapproprtate to presume that the charity WAII continue in business. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the fmancial position of the charity aud which enable them to ensure that the financial statemcnts comply with the Charities Act 2011, the Clwity {Accounls and Reports.) Regulations and the provisions of the trust deed. Financial statements are prepared and presenied at each committee rneeling. The trustees are responsible for safeguarding the assets of the charity and henc¢ for taking Te&8onable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees and signed on ......... ... on their behalf by . r Gill Todd Chairnw) Page 4
THE LEAGUE OF FIUENDS OF THE BRECON HOSPITAL INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LEAGUE OF FRIENDS OF TIIE BRECON HosprrALS I report to the charity trnstees on my examination of the accounts of the charity for the year ended 31 Mar¢h 2025 which are set out on pages 6 to I l. Responsibilities and basis of report As the charity's truste¢s you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I rert in respect of my examination of the charity's accounts caled out under section 145 of the Act and in ¢aTrying out my examination I hav¢ followed the Directions given by the Charity Commission under section 145{5)(b) of the ACL Independent examiner's statement I have Completed rny examination. I Confirni that no material matters have come to my attention in connection with the examination giving me cause to believe that In any nMterial respect.. a¢UntIng records were not kept in respect of the chartty as required by section 130 of the Act. or the accounts do not accord with those records. or the accounts do not comply with the applicable requirements concerning the forn] and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not 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 attention should be drawn in this report in order to enable a proper understanding of the aGGounts to be reached. 0TN¢Adtr) J M Roderick Bsc, ACA WJJames&Co Chartered Accountants Bishop House l O Wheat Stre¢t Brecon Powys Page 5
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) for the year ended 31 March 2025 Restrlcted Unrestrieted funds funds Total 2025 Total 2024 Note5 Income and endowmenls Donations and legleS 8,773 8,773 8,496 Other trading activities 1,126 1,126 2,348 Investment income and illtcrest 17,879 17,879 17,185 TOTAL INCOME 27,778 27,778 28,029 Expenditure Costs of raising funds 89 89 61 Expendithre on charitable aclivites Grants payable Governance costs 19.380 19,380 2.900 2.900 24,057 2.682 TOTAL EXPENDITURE 22.369 22,369 26,800 NET (EXPEF4DITUREVINCOME BEFORE (ILISSES)IGAINS ON INVESTMENTS 5,409 5,409 1,299 Net (lossesygains on investment assets (22,067) (22,067) 39,312 NET MOVEMENT IN FUNDS (16,658) (16.658) 40,541 Recon¢iliolion offvnds." Balances broughi forward at l April 2024 664,213 664,213 623,672 Balances carTied fonvard at 31 March 2025 647,555 647,555 664,213 Page 6
THE LEAGUE OF FRIENDS OF THE BRECOI¥4 HOSPITAL BALAI¥JCE SHEET as at 31 Mareh 2025 2025 2024 FLKED ASSETS Investments Note 551,543 573,610 CURRENT ASSETS Short terni deposits Cash at bank and in hand 26.056 71,492 26,056 66,017 97,548 92,073 CREDrroRS: Amounts falling due within one year io 1,536 1,470 NET CURRENT ASSETS 96,012 90,603 TOTAL ASSETS LESS CURRENT LIABILITIES 647,555 664213 FUNDS Unrestricted Restricted 647,555 664,213 647,555 664,213 Approved by tbe Board of Trustees on .. . and signed on IL8 behalf by R Stafford-Tolley Trustee iiot¢S OD pages 8 to I I forni part of these accounts Page 7
THE LEAGUE OF FRIENDS OF THE BRECON HOSPIT.4L NOTES TO THE FINANCIAL STATEMENTS for the ye*r ended 31 ilIAr¢h 2025 ACCOUNTIIYG POLICIES The financial statements have been prepared in a¢¢ordan¢e with the chtIeS (Accounts and Reports) Regulations 2008 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable lo charities preparing their accounts in a¢¢ordan¢e 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 tnLQt constktutes a public benefit entity as defmed by FRS102. Aecountlng ¢onvention The tinancial staternents are prepared on a going concern basis under the historical Cost Convention as modified by -J]e iEvaluation of investments Éo market value. The financial ststements are presented in 8terling ivliitsh is the fimctional currency of the Charity. Investr.-Jellts Investsiiwt)ts are stated at market value at the balance sheet date, with gains or losses on revg41uation being recognied in the Statement of Financial Activities. Incoming resources All income is recognised in the Statement of Financial Activities when the oonditions for receipt have beal njet and the.re is reasor.sble assurance of receipt. Donations arAd f olle.etions DorAti.ons, c,"..IlecARQllS &nd all voluntary income is accounfrd for gmss when received. Expendit& All expeii.Jiture ts uccounted for gross, and when incurred. DOIYATIONS AND LEGACIES 2025 2024 Unrestri-ted:. DonaticAJs and Lollectians Funerdi donations Gift Aid nbership SLibs¢riptions 806 6.771 476 720 5.906 1.580 190 820 8,773 8,496 OTIJEit TRAfilliG .4CTIVITIES 2025 2024 (Loss)/pro%t 01 eperdtion of vending machine (see note 4) (Lossfvprofit on operdtinn of hospital shop (see note 4) Flag Day S4]MeT Fayre, Concert 24 345 435 695 849 286 489 351 1,126 2,348 Page 8
THE LEAGUE OF FRIEJYDS OF THE BRECON HOSPITAL NOTES TO THE FIIYANCIAL STATEMENTS for the year ended 31 .Vlarch 2025 PROFIT ON TIL4DIIYG ACTIvrriES 2025 2024 Vending machlne Sales Cost of sales 92 68 Profitl(loss) Hospital shop Sales Cost of sales 24 775 489 1042 697 Profitl{10&8) 286 345 FUNDk!AISING COSTS Unrestricted Fuuds 2025 2024 Coffee tdornlng Summer Fayre CoD.cert 20 20 30 io 21 69 69 89 89 61 GRANTS PAYABLE Restricted Fund UnrestrleteAI Funds 2025 2024 Powys','eaching Health Board: Contr.'iJution to C11stmaS presents Powys t eaching Health Board Staff Ckn.sunas xjay lunch 13 granii 12a24:10) to Brecon W2r Mcmorial Hospital 435 435 68 68 18,877 18,877 24,057 Total I&.11tUtiollaI grants 19,380 19,380 24,057 COVERNANCE COSTS Unrestricted Funds 2025 2024 Independent examination fee Insurance Other costs 1,602 910 388 1,602 910 388 1,534 900 248 2,900 2,900 2,682 Page 9
THE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL NOTES TO THE lCIAL STATEMENTS for the year ended 31 March 2025 IIYVESTMENTS 2025 2024 Unlisted.. National Savings Income Bonds ioo,(x)o loo,000 Listed.. COIF Chariti¢s Investment Fund 451.543 473,610 551,543 573,610 Listed inveslmenfs.. Market value at l April 2024 Disposal pro¢eed8 Realised and unrealised (losses)Igains in the year 473,610 434,298 (22,067) 39,312 Market valiie at 31 March 2025 451,543 473,610 Historical co.yL at 31 tdarch 2025 305.768 305,768 SHORT TERM DEPOSITS 2025 2024 COIF Dknl)OSlt Account 26,056 26,056 io. CRED0.s: AMOUNTS FALLL¥G DUE W'T'fviN ONE YEAR 2025 2024 Accrue(i eNpeiises 1,536 1,470 1,536 1,470 Page 10
TIIE LEAGUE OF FRIENDS OF THE BRECON HOSPITAL NOTES TO THE FINAP4CIAL STATEMENTS for the year ended 31 Mareh 2025 ii. ANALYSIS OF NET ASSETS BETWEEN FUI¥DS Restricted funds Unrestrficted funds Total funds Fund balances at 31 March 2025 are Tepresented by: Fixed asset investtnents Current assets cuellt liabilities 551,543 551,543 97,548 97,548 (1,536) (1,536) 647,555 647,555 12. REMUNERATION OF TRUSTEES AIYD COIYI¥4ECTED PERSONS No remuneration has been paid to Trnstees or connected persons during the year. £nil (2024.. £nil) has been paid to nil (2024: nil) Trnstees in respect of expenses reimbursed for expenditure incurred or. behalf of The League of Friends of the Brecon Hospital during the year. 13. RELATED PARTY TRANSACTIONS There were io rknlat party transactions that require disclosure in these financial statements. Pagell