Kettering General Hospital NHS Foundation Trust General Charitable Fund CONTENTS

Transcription

1 Kettering General Hospital NHS Trust General Charitable Fund Annual Report and Accounts 2014/2015

2 Kettering General Hospital NHS Foundation Trust General Charitable Fund CONTENTS Page Charitable Fund Details (i)-(iv) Annual Report (v)-(x) Statement of Trustees Responsibilities (xi) Auditor s Report (xii)-(xiii) Foreword to Accounts 1 Statement of Financial Activities 2 Balance Sheet 3 Note 1 Accounting Policies 4-6 Note 2 Incoming Resources 7 Note 3 Allocation of support costs 7 Note 4 Resources Expended - Other 7 Note 5 Resources Expended - Governance Costs 8 Note 6 Staff Costs 8 Note 7 Changes in Resources Available 8 Note 8 Analysis of Net Assets Between Funds 8 Note 9 Tangible Fixed Assets 9 Note 10 Analysis of Fixed Asset Investments 9 Note 11 Analysis of Debtors 9 Note 12 Analysis of Short term investments and Deposits 9 Note 13 Analysis of Creditors 9 Note 14 Analysis of Funds 10 Note 15 Contingencies 10 Note 16 Commitments 10 Note 17 Post Balance Sheet Events 11 Note 18 Legacies receivable after Balance Sheet Date 11 Note 19 Trustees and Connected Persons 11 Note 20 Trustee Indemnity Insurance 11 Note 21 Loans or Guarantees 11 Note 22 Related Parties 11

3 Kettering General Hospital NHS Foundation Trust General Charitable Fund Trustees The Trustee of the above Charitable Fund is the corporate body of Kettering General Hospital NHS Foundation Trust. The Corporate Trustee for the Charity changed from Kettering General Hospital NHS Trust to Kettering General Hospital NHS Foundation Trust on 1 November The Foundation Trust completed a Supplemental Deed of Declaration on 12 December 2008 confirming the change of status of the Corporate Trustee. The individual members of Kettering General Hospital NHS Foundation Trust are listed below: Name Title Changes Mr G Foster Chairman Mr D Sissling Chief Executive From 1 st April 2014 Mr K Sidhu Dr A Chilton Finance Director &IM&T Medical Director Mr A Gurney Chief Operating Officer From 1 st April 2014 Ms C Culpin Director of Strategic Partnership, Corporate Governance/Deputy Chief Executive Ms L Hackshall Director of Nursing From 1 October 2014 Mr C Marson Acting Director of HR & Org Development From 31 May 2013 to 1 June 2014 Mr M Smith Director of HR & Org Development From 2 June 2014 Ms S Fitzgerald Director of Corporate Services Left employment 31 December 2014 Mr J Hawksfield Non-Executive Director Mr C Saunby Non-Executive Director Left employment 3 October 2014 Mr S Ramsden Mr P Harris-Bridge Non-Executive Director Non-Executive Director Mrs A Reed Non-Executive Director Left employment 31 August 2015 Mr J Halliwell Non-Executive Director From 27 October 2014 to 30 June 2015 Mrs J Gray Non-Executive Director From 27 October 2014 Mr C Dennis Non-Executive Director From 7 September 2015 Mrs L Hanna Non-Executive Director From 7 September 2015 Charity Governing Document and Registration The Governing Document of the Charity is a trust deed, dated the 13 December 1995, which is registered with the Charity Commission. The Charity Registration number is i

4 Registered Charity Address: Auditors: Kettering General Hospital NHS Foundation Trust Rothwell Road Kettering Northants NN16 8UZ KPMG LLP One Snow Hill Snowhill Queensway Birmingham B4 6GH The Charity Banker is: Government Banking Service Southern House Wellesley Grove Croydon CR9 1WW The Charity Investment Manager is: Royal London Cash Management Ltd 55 Gracechurch Street London EC3V OUF Structure, Governance and Management The Charity s unrestricted fund was established using the model declaration of trust and all funds held on trust at the date of registration were either part of this unrestricted fund or registered as separate restricted funds under the main umbrella Charity. Subsequent donations and gifts received by the Charity that are attributable to the original funds are added to the fund balances within the existing Charity. The Charity s main fund has NHS wide objectives as follows: The Trustees shall hold the trust fund upon trust to apply the income, and at their discretion, so far as may be permissible, the capital, for any charitable purpose or purposes relating to the National Health Service and mainly for services provided by Kettering General Hospital NHS Foundation Trust. During 2010/2011 the Board decided that the registration and administration of the restricted funds was overly complex and did not help the Charity make proper spending decisions and decided to approach the Charity Commission to remove the restricted nature of these funds. This was approved by the Charity Commission on the 1 October All existing funds are treated as designated funds. The hospital has many wards and departments and to allow ward managers to manage donations in their own area, individual funds have been set up. There are 49 of these individual funds. Board members Board members consist of the Executive and Non-Executive Directors. Non-Executive Directors of the Board of Directors are appointed by the Trust s Council of Governors and Executive members of the Board are subject to recruitment by the Foundation Trust Board. Members of the Board are not individual trustees under Charity Law, but act as agents on behalf of the corporate trustee. Charitable Funds Committee The Board of Directors has devolved responsibility for the on-going management of the funds to the Charitable Funds Committee, which administers the funds on behalf of the corporate trustee. This Committee consists of three Executive and three Non-Executive Directors. The Committee is required to: Control, manage, and monitor the use of the fund s resources. Ensure best practice is followed in the conduct of its affairs fulfilling all its legal responsibilities. ii

5 Be responsible for the day-to-day management of the investments of the charitable fund in accordance with its investment strategy as detailed in its Investment Policy. The record of attendance of the committee members is shown below: Name Position 8 May Aug Nov 27 Mar G Foster (Chair) Chairman YES YES YES YES D Sissling CEO NO YES NO NO P Harris-Bridge Non-Exec Dir YES YES YES YES J Hawksfield Non-Exec Dir YES YES NO YES S Ramsden Non-Exec Dir NO YES YES YES A Reed Non-Exec Dir N/A N/A YES YES C Saunby Non-Exec Dir NO YES N/A N/A K Sidhu Finance Director YES YES YES YES A Chilton Medical Director NO NO NO YES The Board of Directors of the hospital, who act on behalf of the Corporate trustee, are bound by the hospitals policies and procedures, which includes the induction and training arrangements for all employees. Audit Committee and controls The Corporate Trustee (Kettering General Hospital NHS FT) administers the charity transactions and the Hospital Audit Committee, on behalf of the Charity, reviews the performance, controls, risks and treasury functions of the charity. The Audit Committee reports to the Board of Directors of any concerns it has regarding the management and financial controls relating to the charity. No concerns have been reported to the Board of Directors. Principal adviser to the Board The Finance Director of the NHS Foundation Trust, under the scheme of delegation approved by the corporate trustee, has day to day responsibility for the management of the Charitable Fund, and personally approves, on behalf of the corporate trustee, all expenditure over 5,000 with an upper limit of 19,999, using his delegated authority. Expenditure up to 5,000 is delegated to the Trust Associate Medical Directors or Divisional Directors. The Finance Director also maintains a list of delegated fund managers and their approved financial limit. Fund managers The Board of Directors has devolved responsibility for spending decisions to individual ward and department managers (within an upper financial limit). It believes staff on the front line have a good appreciation of their patients needs and can target expenditure to meet those needs. However, all proposed spend is validated to ensure it meets the objectives of the fund and the Charitable Funds Committee receive quarterly reports on the income and expenditure of each fund. The Charitable Funds Committee is also informed of material legacies. Risk Management The major risks to which the Charity has been exposed have been identified and considered. In order to mitigate these risks the Charity adopts the Scheme of Delegation, Standing Financial Instructions, and Accounting procedures approved by the Board of Directors. These documents identify the procedures that staff involved with receipts and payments have to adhere to. Additionally income and expenditure is monitored on a monthly basis to detect trends as part of the risk management process. iii

6 The most significant risk relates to potential losses arising from the failure of commercial banks in which the Charity deposits surplus funds using a third party investment company. To mitigate against this risk the Treasury Management Policy lists the approved banking institutions and maximum levels and periods of investment that meets its risk criteria. The Charitable Funds Committee reviews the Treasury Management Policy on a periodic basis. One area of charitable activity that has a risk, which is not under the control of the Charity, is fund raising activity by members of the public. The Charity can advise donors of their responsibilities when fund raising for the Trust Charity but it cannot be accountable for errors or omissions made by the donor. The Charity is fully accountable for all monies after the point of receipt into the hospital. Public Benefit Statement The Board members confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties. iv

7 Annual Report 2014/2015 Aims and Policies of the Charity The aim of the Charity is to use donations to Kettering General Hospital NHS Foundation Trust in such a way as to provide for a greater level of care to our patients. The charitable income supplements the hospital s NHS income and provides services and equipment for patients and staff that otherwise it could not afford. The fund is registered with the Charity Commission to identify where and how the income is utilised. Within the hospital, fund managers are authorised to utilise this income within their own areas for the maximum benefit of their patients and staff. The wish of the donors is paramount in deciding how this income is used. The Charitable Funds Committee approves all major commitments and grants and all material donations and legacies are brought to their attention. The Trust has a Fundraising Officer and the general aim of this role is to actively promote fundraising for the KGH Charity Fund, which is the working name of Kettering General Hospital NHS Foundation Trust General Charitable Fund. This will enable the Charity to progress through development of fundraising opportunities and donor relationships, whilst striving for growth in income. A further detailed description on the fund raising activities during 2014/2015 is found towards the end of this report. The Board acknowledge and greatly appreciate the hard work sustained by other charitable groups, including the WRVS, League of Friends, Kettering and District Medical Charitable Trust (KDMCT) and the Crazy Hats Charity. Without donations from these groups and individual members of the public the extra facilities for patients and staff would not have been made possible. Activities during 2014/2015 During the year, the funds continued to support a wide range of charitable and health related activities benefiting both patients and staff. The major contribution towards hospital services in 2014/2015 was the funding of medical and surgical equipment, in excess of 290,000 hospital-wide. The comprehensive range of medical equipment was mainly funded by: Crazy Hats Charity Kettering and District Medical Charitable Trust League of Friends Legacies The Charity received a total income of 666,215 ( 423, /2014) and expended 718,986 ( 567, /2014) during the same period. An analysis of the income and expenditure is detailed in the next section. v

8 Analysis of Income During 2014/2015 the total income received was 666,215 ( 423, /2014). The Charity received donations of 206,079 ( 169, /2014), legacy income of 408,076 ( 154, /2014), grants of 47,557 ( 94, /2014) and interest of 4,503 ( 5, /2014). Charitable Fund Income 2014/2015 ( 000's) Donations Legacies Grants 408 Interest Income from donations The Trust received many donations from both corporate bodies and individual members of the public ranging in value from a few pounds to many thousands of pounds. These monies are identified to individual funds for managers to utilise in accordance with the wishes of the donors. Examples of general donations received are: For the SCBU Fund Puddle Duck Club 4,760 For the Wish List Fund Arnold & George Yeoman Feakin Trust 4,000 For the Diabetes Fund Happy Feet Dance Company 3,500 The main corporate donations received, due to fundraising activities, were: For the SCBU Fund Barclays Bank 2,040 For the SCBU Fund E Surv Chartered Surveyors 1,200 For the SCBU Fund Barclaycard 1,013 For the Undesignated Fund Tollers 1,000 vi

9 Income from legacies The Charity received one large legacy during 2014/2015: Medical Equipment through the General Fund Mr B S 238,476 The Trust has been notified of a further 4 legacies due to the charity and has accrued for the estimated value of 169,600. The estates are yet to be finalised. Grants received from other Charities and organisations League of Friends 34,008 Crazy Hats Appeal 12,000 Grants from Kettering & District Medical Trust 897 Analysis of Expenditure During 2014/2015 the Charity spent 718,986 ( 567, /2014) and issued 323 separate payments for charitable purposes. Equipment purchases The Charity purchased a number of medical equipment items during the year at a cost of 292,199. The major items purchased were: Ultrasound machine 88,000 Auditory Brainstem Response machine 23,092 Blood gas Analyser 20,000 Biomat Safety Cabinet 14,305 DBI Table 12,000 Alaris Theatres 11,620 Sherlock 3CG System 10,830 Eye Surgery Stretcher 9,916 vii

10 Other main items of expenditure Computer Equipment 110,076 Patient Entertainment System 52,715 Computer Recreation & Hall Office Equipment 26,921 Doctors Mess 24,954 Reserves Policy The Charity has an Undesignated Fund and the fund balance on this fund was 316,316 at 31 March 2015 ( 403, /2014). The Undesignated Fund can be used for any purpose as defined in the Charity s Governing Document. The policy of the Trust is to retain monies in this fund to cover exceptional items of expenditure that have not already been funded from the designated funds. In addition, income from investments attributed to these funds is used to provide additional funding for the Hospital. In relation to balances held as part of the designated funds, it is the policy of the Trustees to delegate responsibility for the management of those funds to hospital managers. Where expenditure is above their approved financial limit the Trustees must approve the commitment. Managers of designated funds can expend fund monies subject to the requisite approval. The Trustees aspire to turnover all reserves within a 12 month period. Investments The Charity Investment Policy takes a very cautious, low risk approach to investment of surplus charitable funds. The current policy allows investments on the money market with banking and government institutions which are rated at AA- or above on the Standard & Poors index. All sums invested are available to be withdrawn without notice. The Investment Policy and investment performance is reviewed on an annual basis. For 2014/2015 the Charity received 4,503 bank and money market interest ( 5, /2014). Fundraising Activity 2014/2015 Fundraising Department Annual Report April March 2015 The Fundraising Department has seen significant change and activity over the last financial year aided by the recruitment of a part time Fundraising Assistant. This resource was greatly needed and has already proved beneficial to the department and charity as a whole. Income recorded by the Fundraising Department has grown across the board, most noticeably from Gift Aid, Virgin Money Giving and Community Groups - all at least doubled their income from the previous year and set new records. However, the exception was grants received from Trusts and Foundations. Unfortunately we saw a drop of 77,776 on the previous financial year due to the significant decline in funds available from one of our key Trusts and Foundations. This resulted in an overall income drop of 43,944 which was really disappointing given the progress made in all other areas. viii

11 Charity Income Breakdown (trackable income recorded via Fundraising Department) Fundraising Dept Income 2014/ /2014 Community Groups 17,004 1,313 Corporate 16,097 13,718 T&F's 11,577 89,323 Individuals 43,474 28,942 Appeal of the year 2,579 13,106 (LEA) TEXT (Little Extras Appeal) 0 67 Pins & Tins 1, ,275 (2,412 received via VMG) 2,224 (798 received via VMG) Gift Aid Virgin Money Giving (Gift Aid received via VMG is not included in this figure - see 'Gift Aid' column) 11,973 5,252 Staff Lottery 14,303 12,667 TOTAL 123, ,436 Key activities and achievements have included: - 1,482 generated following our Easter Raffle (new to fundraising calendar) - 6,304 raised through annual Christmas Raffle - Over 1,000 raised for Urology Services following Movember fundraiser generated through Bag Packing event over 2 days in December using volunteers at M&S Kettering - 1,022 raised from the Midnight Walk & Pyjama Party Fundraiser jointly organised by The Five Charities - Recruitment of Fundraising Assistant (PT 20hrs) - Significant support gained from large corporations such as Wellingborough Golf Club, Sainsbury s Kettering, M&S Kettering and Barclaycard - New relationship built with NCS (National Citizen Service) which to date has generated for the charity - The design and order of attractive merchandise to help enhance the charity profile. This includes charity T-Shirts, new banners and book markers - Significant increase in KGH Staff Lottery participants through proactive approach. 1, now generated each month via the lottery ( 743 when it was first launched in Dec 2012) - Creation of comprehensive fundraising Policy and Code of Procedures document for internal use to assist staff with charity related matters/queries and operations ix

12 - Production of new charity receipt book which updated original content and now gives an alternative option to donate to the Staff Benefit Fund (new fund opened to ensure separation of donations for staff and patient benefit) - Implementation of 11 Wish List items to the value of 25, Launch of general charity text code to allow instant donation via mobile Fundraising Objectives Fundraising Objectives 2014/2015 Objective Met Invest in a part time Fundraising Assistant Y recruited August 2014 Continue providing a fast and efficient Y recruitment of a new Fundraising Assistant response to donors and all leads which has helped respond to all enquiries in a timely could result in income for the charity fashion Achieve as many objectives as possible outlined in the Fundraising Strategy Strengthen grant making links with new and existing Trusts and Foundations Explore the option of implementing a Textile Clothing Bank (located on site) that will generate sustained revenue Invest time in improving the charity pages of the hospital website so they are more factual, user friendly and appealing On-going 4 out of 6 objectives are being explored or met N We have seen a decrease in income from T&F s On-going initial research has taken place. The outlook for a textile bank is positive On-going areas of the website have been updated and cleaned up, but further work still needs to take place Fundraising Objectives 2015/2016 Over the next financial year the department aims to: Continue focusing fundraising efforts on sourcing funding for Wish List items (designed to improve patient care, services, facilities and environment) Deliver Events Calendar (this will include the largest number of events the charity has ever hosted in one year) and will have a greater focus on aligning efforts with the Trusts Health and Wellbeing objectives Identify grant making links with new Trusts & Foundations in a bid to build back up T&F income Continue providing a fast and efficient response to donors and all leads which could result in income for the charity Recruit new charity volunteers to help assist department on an ad-hoc basis Achieve as many objectives as possible outlined in the Fundraising Strategy, with a strong focus on income generation. x

13 STATEMENT OF TRUSTEES RESPONSIBILITIES The Trustees are responsible for: keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the funds held on trust and to enable them to ensure that the accounts comply with requirements in the Charities Act 2011 establishing and monitoring a system of internal control; and establishing arrangements for the prevention and detection of fraud and corruption. The Trustees are required to prepare accounts for each financial year such that they give a true and fair view of the financial position of the funds held on trust, in accordance with the Charities Act In preparing those accounts, the Trustees are required to: select suitable accounting policies and to apply them consistently, ensuring that their estimations/judgments are both reasonable and prudent. make judgements and estimates which are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts. prepare the financial statements on the going concern basis The Trustees confirm that they have met the responsibilities set out above and complied with the requirements for preparing the accounts. The Trustees have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the Charity s auditor is aware of that information. As far as the Trustees are aware, there is no relevant audit information of which the Charity s auditor is unaware. The financial statements set out on pages 2 to 11 attached have been compiled from and are in accordance with the financial records maintained by the Trustees. By Order of the Trustees Signed: Mr David Sissling Mr Kishamer Sidhu Chief Executive Director of Finance & IM&T Date: 15 January 2016 Date: 15 January 2016 xi

14 xii

15 xiii

16 KETTERING GENERAL HOSPITAL NHS FOUNDATION TRUST GENERAL CHARITABLE FUND Funds Held on Trust Annual Accounts 2014/2015 The accounts of the funds held on trust by the Trust FOREWORD TO THE ACCOUNTS These accounts have been prepared by the Trustees in accordance with the Charities Act 2011 and the Charities Statement of Recommended Practice (SORP) The Hospital NHS Trust registered its fund held on Trust with the Charity Commission and the Charity Registration number is Objectives of the Charitable Fund The Trustees shall hold the trust fund upon trust to apply the income, and at their discretion, so far as may be permissible, the capital, for any charitable purpose or purposes relating to the National Health Service and mainly for services provided by Kettering General Hospital NHS Foundation Trust. Signed on behalf of the Trustees Date: 15 January 2016 Mr David Sissling Chief Executive Mr Kishamer Sidhu Director of Finance & IM&T 1

17 INCOMING RESOURCES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH / /2014 NOTE VOLUNTARY INCOME General Donations Corporate Donations Legacies Grants receivable SUB-TOTAL VOLUNTARY INCOME Investment income 4 6 TOTAL INCOMING RESOURCES RESOURCES EXPENDED CHARITABLE ACTIVITIES Staff Costs 6 (37) (29) Activities in the furtherance of the Charity objectives 4 (667) (524) SUB-TOTAL DIRECT CHARITABLE EXPENDITURE (704) (553) Governance Costs 5 (15) (14) TOTAL RESOURCES EXPENDED (719) (567) NET MOVEMENT IN FUNDS 7 (53) (143) Fund balances brought forward at 31 March 1,085 1,228 FUND BALANCES CARRIED FORWARD 8 1,032 1,085 The notes on pages 4 to 11 form an integral part of these financial statements 2

18 BALANCE SHEET NOTES 31 March March FIXED ASSETS Investments TOTAL FIXED ASSETS 0 0 CURRENT ASSETS Debtors Short term investments and deposits Cash at bank and in hand TOTAL CURRENT ASSETS 1,080 1,163 Creditors: Amounts falling due within one year 13 (48) (78) NET CURRENT ASSETS 1,032 1,085 TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: Amounts falling due after more than one year 1,032 1, NET ASSETS 1,032 1,085 FUNDS: Income Funds 14 1,032 1,085 TOTAL FUNDS 1,032 1,085 The notes on pages 4 to 11 form part of this account Mr David Sissling Chief Executive Date:15 January

19 NOTES TO THE ACCOUNTS 1. ACCOUNTING POLICIES 1.1 Accounting Convention The financial statements have been prepared under the historic cost convention, as modified for the revaluation of certain investments, and in accordance with applicable United Kingdom accounting standards and policies for the NHS approved by the Secretary of State and the Statement of Recommended Practice Accounting and Reporting by Charities issued by the Charities Commissioners in Incoming Resources a) All incoming resources are included in full in the statement of financial activities as soon as the following three factors can be met: i) entitlement arises when a particular resource is receivable or the Charity s right becomes legally enforceable; ii) certainty when there is reasonable certainty that the incoming resource will be received; iii) measurement when the monetary value of the incoming resources can be measured with sufficient reliability. b) Gifts in kind i) Assets given for distribution by the Charity are included in the Statement of Financial Activities only when distributed. ii) Assets given for use by the Charity (e.g. property for its own occupation) are included in the Statement of Financial Activities as incoming resources when receivable. iii) Gifts made in kind but on trust for conversion into cash and subsequent application by the Charity are included in the accounting period in which the gift is sold. In all cases the amount at which gifts in kind are brought into account is either a reasonable estimate of their value to the Charity or the amount actually realised. The basis of the valuation is disclosed in the annual report. c) Intangible Income Intangible income (e.g. the provision of free accommodation) is included in the accounts with an equivalent amount in outgoing resources, if there is a financial cost borne by another party. The value placed on such income is the financial cost of the third party providing the resources. d) Legacies Legacies are accounted for as incoming resources once the receipt of the legacy becomes reasonably certain. This will be once confirmation has been received from the representatives of the estates that payment of the legacy will be made or property transferred and once all conditions attached to the legacy have been fulfilled. Material legacies, which have been notified but not recognised as incoming resources in the Statement of Financial Activities, are disclosed in a separate note to the accounts with an estimate of the amount receivable e) Grants Grants receivable from other Charities are analysed by the name of the Charity in the relevant note. Grants are recognised when the grant making body has, in writing, confirmed the grant will be made and has not subject the grant to restrictions that must be met by the Balance Sheet date. f) Interest income The Charity allocates interest from bank deposits on a fund balance apportionment basis. 4

20 1.3 Resources Expended The funds held on trust accounts are prepared in accordance with the accruals concept. All expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. a) Cost of generating funds The costs of generating funds are the costs associated with generating income for the funds held on trust. b) Charitable activities Costs of charitable activities compromise all costs incurred in the pursuit of the charitable objectives of the Charity. These costs comprise direct costs and an apportionment of overhead and support costs. c) Grants payable Grants payable are payments made to third parties (including NHS bodies) in the furtherance of the funds held on trust s charitable objectives. They are accounted for on an accruals basis where the conditions for their payment have been met or where a third party has a reasonable expectation that they will receive the grant. This includes grants paid to NHS bodies. d) Governance costs Governance costs comprise all costs incurred in the governance of the Charity. These costs include costs related to the statutory audit. e) Staff, Management and administrative costs The Charity does not directly employ Charity administrators but have these services provided by members of Kettering General Hospital NHS Foundation Trust. Staff costs relate to one employee of Kettering General Hospital NHS Foundation Trust whose sole duty is to provide a fundraising function for the Charity. As such the costs of this employment are charged in full to the Charity and disclosed in note 6 Staff Costs in accordance with the SORP Pension disclosures are shown in the Kettering General Hospital NHS Foundation Trust accounts. Administration costs are apportioned across the Charity s other expenditure lines in accordance with the SORP The relevant note to the accounts analyses these costs. 1.4 Irrecoverable VAT Irrecoverable VAT is charged against the category of resource expended for which it was incurred. 1.5 Structure of funds In 2010/2011 the Charity decided to remove the restricted nature of the funds. This was approved by the Charity Commission on the 1 October All existing funds are treated as designated funds. The hospital has many wards and departments and to allow ward managers to manage donations in their own area, individual funds have been set up. There are 43 of these individual funds. a) The major designated funds held within these categories are disclosed in notes 14.2 and b) Transfer between funds is allowable if the objective of the funds permits a transfer for example from un-restricted to designated funds where the Board have decided to allocate un-restricted funds for a specific purpose. 1.6 Fixed Assets The charity does not own fixed assets. Where the charity purchases equipment for Kettering General Hospital the equipment is granted to the hospital and Kettering General Hospital NHS Foundation Trust will account for the asset as a donated asset. 5

21 1.7 Investment Fixed Assets Investment fixed assets are shown at market value. i) The Charity does not own any property assets ii) Quoted stocks and shares are included in the balance sheet at mid-market price, exdividend. iii) Other investment fixed assets are included at trustees best estimate market value. 1.8 Investment gains and losses All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (or date of purchase if later). Unrealised gains and losses are calculated as the difference between market value at the year end and opening market value (or date of purchase if later). 1.9 Intangible Fixed Assets Intangible fixed assets are included at the trustees best estimate of value Pensions Contributions The Charity does not directly employ staff but is re-charged for the cost of administration by Kettering General Hospital NHS Foundation Trust, which participates within the NHS Pension scheme for the relevant staff Change in the Basis of Accounting There has been no change in the basis of accounting during this year Prior Year Adjustments There has been no change to the accounts of prior years Pooling Scheme An official pooling scheme was operated for investments related to all funds. The scheme was registered with the Charity Commission on 26 February 2001 and subsequently removed 1 October Taxation The Charity is considered to pass the test set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable trust for UK income tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Part 10 Income Tax Act 2007 or section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 6

22 2. Details of Incoming Resources Incoming Resources 2014/ / General Donations (inc Gift Aid) Corporate Donations Legacies * Grants Receivable Interest TOTAL * The legacy income includes four legacies where the estate is waiting to be finalised. Three legacies require the executors to sell a house and the sums due are estimated using an estate agent appointed by the executor. The eventual sale value may be different due to fluctuations in the housing market. Any variance in income receivable by the charity will be accounted for in the following financial period. 3. Allocation of Support costs Governance Direct Charitable Activity / / Financial administration (bought in from Kettering General Hospital ) Internal & External audit Insurance Board costs Details of Resources Expended Other Costs before Support allocation of Costs 2014/ /2014 support costs Patients welfare and amenities Staff welfare and amenities Medical equipment Computer & office equipment Staff training & books Other TOTAL

23 5. Analysis of Governance Costs 2014/ / External Audit Fee 5 5 Insurance 3 2 Board costs 7 7 TOTAL Staff Costs * 2014/ / Gross Wages & Salaries Employers National Insurance Conts. 2 2 Pension Costs 4 3 TOTAL * Staff costs relate to two employees who do not earn more than 60k; Whole Time Equivalent is 1.56 at the 31 March Changes in Resources Available for Charity Use for the year ended 31 March / /2014 Funds Funds Net movement in funds for the year TOTAL NET MOVEMENT IN FUNDS (53) (143) (53) (143) 8. Analysis of net assets between funds for the year ended 31 March Mar 2015 Funds 31 Mar 2014 Funds Current assets 1,080 1,163 Current liabilities (48) (78) TOTAL 1,032 1,085 8

24 9. Tangible Fixed Assets The Trustees held no fixed assets at the Balance Sheet Date. 10. Analysis of Fixed Asset Investments The Trustees held no fixed asset investments at the Balance Sheet Date. 11. Analysis of Debtors 11.1 Amounts falling due within one 31 Mar Mar 2014 year Amount due from donors/legacies Interest Receivable 9 5 Other debtors 2 3 TOTAL DEBTORS FALLING DUE WITHIN ONE YEAR Analysis of Short term investment and deposits 31 Mar Mar Short term money market deposit* TOTAL *Surplus cash is invested on the money market with banking institutions in accordance with the Charity Investment Policy and managed by Royal London Investment Management Ltd 13. Analysis of Creditors 13.1 Amounts falling due within one year 31 Mar Mar Trade creditors Amounts due to KGH NHS FT 5 13 Other creditors 6 5 TOTAL CREDITORS FALLING DUE WITHIN ONE YEAR

25 14. Analysis of Funds 14.1 Endowment funds The Charity has no Endowment funds at the Balance Sheet date Restricted Funds The Charity applied to the Charity Commission in 2010/2011 to remove the restriction on all funds and this was granted on the 1 October All funds are now treated as designated funds as listed in section 14.3 below. Designated funds are funds that have been set up separately to allow the charity to monitor the different types of expenditure. Individual donations may be received which have a restriction placed upon them. In these cases, for large donations, a new fund would be created. For smaller donations the relevant fund manager would be responsible for ensuring the donation is expended in accordance with the donor s restriction Designated and un-designated funds The Charity has the following major designated fund groups at the Balance Sheet date. Material funds Balance at 31 March Incoming Resources 000 Resources Expended 000 Transfer between funds 000 Balance at 31 March Department Funds Equipment Funds Un-designated fund Grants from WRVS Patient Welfare Funds (172) (24) (65) (286) (16) (2) (125) Staff Funds (55) (2) 27 TOTAL 1, (719) The funds above relate to groups of individual funds with a similar purpose, for example the purchase of medical equipment. Transfers between funds relate to shared funding contributions where one fund has incurred the total expense. 15. Contingencies The Charity had no contingent gains or losses at the Balance Sheet Date. 16. Commitments The Charity has no commitments at the Balance Sheet Date. 10

26 17. Post Balance Sheet Events There are no post balance sheet events to report. 18. Legacies Legacies are accrued in the accounts when the amount of the legacy has been estimated by the executor of the estate. The Charity is a beneficiary to one legacy but the amount and timing of the legacy is not known at the balance sheet date. This legacy is not therefore accounted for in the income and expenditure position of the Charity in 2014/ Trustees and Connected Persons 19.1Trustee expenses reimbursed The Charity has not received any Trustee expense claims 19.2 Trustee remuneration No Trustee remuneration has been paid 19.3 Details of transactions with Trustees or connected persons The Charity had no transactions with Trustees or connected persons. 20. Trustee indemnity insurance Fidelity Guarantee and Trustee Liability insurance is in place for the Trustees. 21. Loans or Guarantees secured against assets of the Charity The Charity has no loans or guarantees. 22. Related parties The Corporate Trustee of the Charity is Kettering General Hospital NHS Foundation Trust. The Board of Directors of the Foundation Trust act as agents for the charity. The Charity's objectives relate wholly to services provided by the Hospital and therefore expenditure incurred by the Charity is for the benefit of patients and staff at the Hospital. 11