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2025-04-05-accounts

Charity registration number 900063 (England and Wales)

THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Rev'd J H Simmons Dr RE K Russell PhD, FRCP Mr A Simmons Dr D Laws FRCP Mr1 Hill (Appointed 11 June 2025)

Charity number g00063

Principal address Royal Bournemouth Hospital Castle Lane Bournemouth Dorset BH7 7DW

independent examiner Peter Barton FCCA ART Accountants Limited Ground Floor 11 Manvers Street Bath BA4 1JQ

Bankers National Westminster Bank Pic The Castlepoint Centre Castle Lane West Bournemouth BHB 9US

THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

CONTENTS

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Page
Trustees’ report 1-3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7-13
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THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

TRUSTEES’ REPORT FOR THE YEAR ENDED 5 APRIL 2025

The trustees present their annual report and financial statements for the year ended 5 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of ireland" and the Charities SORP "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)".

Objectives and activities

The Bournemouth Chest Diseases Charitable Trust was established in February 1989 in Bournemouth, Dorset with the purpose of “relieving persons under the care of the Chest Physicians in the East Dorset Health Authority and suffering from Chest Diseases”.

Strategies for achieving aims and objectives

In order to achieve these objectives the Trustees are empowered to “assist in the provision of improved facilities for investigation, diagnosis, education and treatment of patients attending the Royal National Hospital, the Royal Victoria Hospital and the Bournemouth General Hospital. The Trustees are furthermore empowered to assist persons with Chronic Chest Diseases in the management of their condition at home by the provision of any necessary services and equipment for the benefit of such persons’.

Since the drawing up of the Deed, the Royal National Hospital and the Royal Victoria Hospitals have closed, and the Bournemouth General Hospital has been renamed “The Royal Bournemouth Hospital’.

The Trustees identify projects and organisations they wish to support and so the Trust does not make grants to people or organisations that apply speculatively. They believe that the public benefit requirement is fully satisfied as the support is provided through Hospitals which are open to all within the catchment area covered by the Trust.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Grant making policy

Procedures and policy for making grants

The Trustees normally meet twice a year to consider what grants they will make and to review any feedback they have received. Nominations for grants are elicited by formal and informal means. The formal means involves inviting the Bournemouth and Poole Hospital Management to submit grant requests for developments that lie within the Trust’s objects. Though the Trustees make some small grants with no formal application, they normally ask other organisations to submit a formal application saying how the funds would be used and what would be achieved.

The Trustees’ policy, which is communicated to all beneficiaries, is to commit to grants for a maximum of three years, with no guarantee of funding beyond thai period.

Achievements and performance

Significant activities and achievements against objectives

Grants towards various projects have been continued during the year from the Designated Funds, as detailed in note 7 and 18 to the Accounts. It is the Trustees’ policy to utilise the Trust income mainly for such grants in future years. Grants are made in order to improve patient care where Health Service funding is not available. The impact of grants made is reviewed by the Trustees at each Trustee meeting, and they are satisfied that significant improvements in patient care have been achieved.

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THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Financial review

During the year ended 5th April 2025 the Trust received gifts, grants, legacies and bequests totalling £2,558 (2024 - £100). It also received investment income of £196,969 (2024 - £202,541).

The Trust's funds are all unrestricted, but the Trustees have designated funds for future projects separately. A transfer to the designated funds amounting to £103,802 has been made in the year, representing a net increase in the commitments agreed by the Trustees. At the year-end the balance of designated funds stood at £1,780,857 (2024 - £1,758,065), as summarised in note 18.

The overall result for the year shows a surplus of £87,746 (2024 - £193,994). Included in the surplus is an unrealised profit on the revaluation of the Charities Property Fund of £14,898 (2024 - £52,463) and an unrealised loss of £29,389 on the revaluation of the Rathbones investment portfolio (2024 - profit of £65,183). On 4th April 2025 the sum of £435,731 was realised from the Charities Property Fund in redemption of 50% of the holding in the fund. The closing fund balance stood at £4,498, 147, (2024 - £4,410,401).

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a minimum level equivalent to six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Investment policy

The Trustees’ investment policy is to invest partly in commercial property with an above average yield in order to maintain income for immediate use, and partly in a managed quoted portfolio to provide a balance between income and long term growth. The Trustees aim to retain sufficient liquid funds on immediate access and short term deposits to meet their future commitments.

Major risks

The trustees has assessed the major risks to which the chanity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The Trustees annually review the risks that the charity faces. To date these have mainly related to investment management and have been ameliorated by the sale of individual properties and reinvestment of the proceeds in the Charities Property Fund. Investments are held for the longer term, and are designed to provide sufficient income to enable the Trust to carry out its objectives.

Plans for future periods

The Trustees intend to continue providing grants in a similar way to the recent past continuing the emphasis on projects at Bournemouth and Poole Hospitals and with local Primary Care Trusts, and for training, but retaining flexibility as to the timing, and scale of grant making.

In June 2025 a grant of £1,387,958 was made to the Royal Bournemouth Hospital to cover the cost of a major refurbishment of the Thoracic Medicine Department. This was made from the designated fund of £1,500,000 previously set up and unused as at Sth April 2025. The balance unused is being carried forward against any remedial works which may be required.

Structure, governance and management

The charity was established in February 1989 and is registered with the Charity Commission No. 900063. The charity is an unincorporated body whose governing document is a Trust Deed.

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THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 inticc arent ee ee The trustees who served during the year and up to the date of signature of the financial statements were: Rev'd J H Simmons Dr JAM Tumer QHP, FRCP . (Resigned 29 September 2024) Dr RE K Russell PhD, FRCP Mr A Simmons Dr D Laws FRCP : Mr | Hill (Appointed 11 June 2025)

Recruitment and appointment of trustees The trust deed stipulated the first Trustees, who continue to serve. New Trustees are identified and appointed by the remaining Trustees. The chairman of the Trust is responsible for the induction of any new Trustee, which would involve awareness of a Trustee's responsibilities, the goveming document, administrative procedures, the history and philosophical approach of the charity. A new Trustee receives copies of the previous year's annual report and accounts and a copy of the Charity Commission teaflet ‘The Essential Trustee: What You Need to Know’.

:

Organisational structure

The Trustees have appointed an Honorary Secretary, Dr D. Laws, who is a consultant in the Thoracic Medicine Department of the Royal Boumemouth Hospital. They have also appointed an administrator who deals with correspondence and bookkeeping.

The trustees’ report was approved by the Board of Trustees.

Rev'd J H Simmons Trustee

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14 November 2025 Date! 20000... eee

THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 2,558 400
investments 4 196,969 202,541
Total income 199,527 202,641
Expenditure on:
Raising funds § 15,757 14,824
Charitable activities 7 81,534 6,543
Total expenditure 97,291 21,367
Net gains/(losses) on investments 11 (14,490) 12,720
Net income and movement infunds 87,746 193,994
Reconciliation offunds:
Fund balances at 6April 2024 4,410,401 4,216,407
Fundbalancesat5April2025 4,498,147 4,410,401

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

BALANCE SHEET

AS AT 5 APRIL 2025

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.
Fixed
assets
Investmentproperty
Investments
Notes
13
14
£ 2025 2025 £
1,200,000
1,998,398
£ 2024 £
1,200,000
2,460,677
Current assets ; 3,198,398 3,660,677
Debtors 15 362 -
Cash atbankand in hand 1,330,043 781,869
Creditors: amountsfallingdue within 16 1,330,405 . 781869
oneyear (30,656) (32,145)
Netcurrentassets . 1,299,749 749,724
Totalassetslesscurrentliabilities 4,498,147 4,410,401
Thefundsofthecharity
Unrestrictedfunds 18 4,498,147 4,410,401
4,498,147 4,410,401
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Rev'd J H Simmons
Trustee

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THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

Charity information

The Bournemouth Chest Diseases Charitable Trust is an unincorporated body whose governing document is a Trust Deed.

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows. The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Incoming resources

income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

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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 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 are allocated on the portion of the asset's use.

1.6 Investment properties

Investment property, which is property held to eam rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

Financia! instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

{Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

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|||||| |---|---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |2025|2024| |£|£| |Donations|and|gifts|2,558|100|

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4 Income from investments

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||||||| |---|---|---|---|---|---| |Unrestricted|Unrestricted| |.|funds|funds| |2025|2024| |£|£| |Rental|income|84,572|81,444| |Income|from|listed|investments|83,298|97,395| |Interest|receivable|29,099|23,702| |196,969|202,541|

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5 Expenditure on raising funds

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||||| |---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |2025|2024| |£|£| |investment|management|15,757|14,824|

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THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

6 Expenditure on charitable activities

Charitable
activities
Charitable
activities
2025 2024
£ £
Direct costs
Grantfunding ofactivities (see note 7) 77,183 2,815
Share ofsupport and governance costs (see note &}
Support 136 18
Governance 4,215 3,716
81,534 6,543
Analysis by fund
Unrestricted funds 81,534 6,543
Grants payable
2025 2024
£ £
Grants to institutions:
Hospital Developments Bournemouth 33,810 -
Training and StaffSupport 2,263 2,815
Nippy Ciearway 12,166 -
MSF Gift 1,000 -
StaffOverlap Costs 27,944 -
.
77,183 2,815
Support costs allocated to activities
2025 2024
£ £
BankCharges 136 18
Governance costs 4,215 3,710
4,351 3,728
Analysed between:
Charitableactivities 4,351 3,728

7 Grants payable

8 Support costs allocated to activities

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year except as disclosed below.

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THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

9 Trustees

(Continued)

Mr J H Simmons, a trustee, acted in a professional capacity and was paid fees of £1,600 (2024 - £1,600).

10 Employees

There were no employees during the year.

41. Gains and losses on investments

Unrestricted Unrestricted
funds funds
2025 2024
Gains/{losses) arising on: £ £
Revaluation of investments (64,389) 30,208
Sale of investments 49,899 (17,488)
(14,490) 12,720

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Investment property

Investment property
2025
£
Fair value
At6April2024and5April2025 1,200,000

Investment property comprises of a commercial unit, Unit R Elliott Road, Bournemouth. The fair value of the investment property has been arrived at on the basis of a valuation carried out in January 2022 by Goadsby Chartered Surveyors, who are not connected with the charity. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

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THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

14 Fixed asset investments

Listed Cash in Total
investments portfolio
£ £
Cost or valuation
At 5April 2025 2,441,970 18,707 2,460,677
Additions 220,362 - 220,362
Valuation changes (422,131) 414,580 (7,551)
Disposais (675,090) - (675,090)
At 5April 2025 1,565,111 433,287 1,998398
Carrying amount
At05April 2025 4,565,111 433,287 1,998,398
At05April 2024 2,441,970 18,707 2,460,877
2025 2024
£ £
Investments at fairvalue comprise:
Charities Property Fund 436,841 857,674
Rathbones Investment Management 1,567,557 1,603,003
1,998,398 2,460,677

Fixed asset investments revalued

Investments are included in the accounts on a fair value basis. The historical cost of investments is £1,822,241 (2024 - £2,186,379).

15 Debtors

15 Debtors
2025 2024
Amounts falling due within one year: £ £
Prepayments and accrued income 362 -
16 Creditors: amounts falling duewithin one year
2025 2024
Notes £ £
Other taxation and social security 8,258 8,388
Deferred income 17 - 18,036
Other creditors 22,398 5,721
30,656 32,145

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THE BOURNEMOUTH CHEST DISEASES CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

17 Deferred income

2025 2024
£ £
Arising from Rental income - 18,036
Deferred income is included in the financial statements as follows:
2025 2024
£ £
Deferred income is included within:
Current liabilities - 18,036
Movements in the year:
Deferred incomeat6April 2024 18,036 18,036
Released from previous periods (18,036) -
Deferred income at5April 2025 - 18,036
Unrestricted funds
The unrestricted funds ofthe charity comprise the unexpended balances ofdonations and grants which are
not subject to specific canditions by donors and grantors as to howthey they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At6April
2024
Incoming
resources
Resources
expended
Transfers Gains and
losses
At5April
2025
£ £ £ £ £ £
Grant
commitments
1,758,065
- (81,010) 103,802 - 1,780,857
General funds
2,652,336
199,527 (16,281) (103,802) (14,490) 2,717,290
4,410,401 199,527 (97,291) - (14,490) 4,498,147
Previous year:
At6April
2023
Incoming
resources
Resources
expended
Transfers Gains and
losses
At5April
2024
£ £ £ £ £ £
Grant
commitments
917,950
- (2,815) 842,930 = 4,758,065
General funds
3,298,457
202,641 (18,552) (842,930) 12,720 2,652,336
4,216,407 202,641 (21,367) - 42,720 4,410,401

18 Unrestricted funds

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