THE FRIENDS OF ST. THOMAS HOSPITAL

Transcription

1 Charity Commission Reference: THE FRIENDS OF ST. THOMAS HOSPITAL Trustees Annual Report and Financial Statements 31 March 2015

2 Financial statements for the year ended 31 March 2015 Contents Pages Trustees Report 1-4 Independent Examiner s report 5 Statement of financial activities 6 Gifts Schedule 7-8 Balance sheets 9 Notes to the financial statements 10-14

3 Trustees Report for the year ended 31 March 2015 Reference and Administrative Details of the Charity, its Trustees and Advisors President Sir Barry Jackson Vice Presidents Lord Imbert The Mayor of Lambeth Mrs P Anderson Mrs S Bateman Mrs L Evans Mrs H Ross Russell (To 9 February 2015) Mrs Y Sparrow Mrs K Kinmonth Warren Mrs J Webb Mrs G Yates (To 22 November 2014) Executive Committee Chairman Mrs M. de la Piquerie Vice-Chairman Miss K. Riley Hon. Treasurer Mrs P.Percival Hon. Secretary and Membership Secretary Mrs P. Young Shop Managers Miss S Cooksey Miss N Tiddy Other Committee Members Mrs J. Armstrong Mr R Beardon Miss A Cockcroft Mrs D. Cockett, MBE Mrs D. Fallows Miss R. Grau Mr G. Haynes (co-opted 10 February 2015) Mr W. Jenkins Mr J. José, MBE Mrs C. Mayor (co-opted 10 March 2015) Miss I. Rikof (To 25 October 2014) Mrs C. Sheldon Mrs B. Stevens Mrs A. Thin (To 5 June 2014) Ex-Officio Member Miss K Rambert, Clinical Nurse Manager Main Theatres 1

4 Trustees Report for the year ended 31 March 2015 Reference and Administrative Details of the Charity, its Trustees and Advisors Principal Office The Friends of St. Thomas Hospital Office St. Thomas Hospital Westminster Bridge Road London SE1 7EH Secretary Mrs R Hollyer Independent Examiner Richard Willis FCA Moore Stephens LLP Russell Square House Russell Square London WC1B 5LF Bankers National Westminster Bank plc Lambeth North Branch 91 Westminster Bridge Road London SE1 7ZB Investment Managers Standard Life Wealth 30 St Mary Axe London EC3A 8EP Charity Registration number Structure, Governance and Management Constitution Today s Friends of St. Thomas Hospital was originally founded in 1880 as The Ladies Guild of St. Thomas Hospital with the aim of providing non-medical necessities for patients. Fund-raising became an essential part of its work. The Articles of Constitution were re-written in 1997 in accordance with the Charity Commission s guidelines and amended in May Trustees are recruited from members of The Friends and elected at the Annual General Meeting. Risk management The Trustees have examined and listed the major strategic, business and operational risks which the charity faces and confirm systems are in place to manage these risks. These are reviewed annually. The Trustees have prepared a formal risk register. 2

5 Trustees Report for the year ended 31 March 2015 Objects and Activities Objects Raising money in order to help provide extra amenities comforts and special equipment the National Health Service is unable to supply. Organising and maintaining The Friends Shop ( the shop ) and arranging other services for the benefit of patients and staff. Gift and grant making policy The Friends of St. Thomas Hospital invite applications for gifts and grants from the Wards and Departments of the Hospital. The applications are considered at the monthly Committee Meetings. Activities The main activities of the charity continue to be the raising of funds from a number of events held throughout the year. In addition income is received from subscriptions, donations and the investment portfolio. The charity continues to run the shop through its subsidiary undertaking The Friends of St Thomas Hospital Shop Limited. The results of that company are consolidated in the accounts of the charity and the profit is gift aided to the charity. The Trustees are very grateful to the many volunteers who help with these activities and to the hospital who donate the necessary facilities from which the charity and shop carry out their operations. Achievements and Performance The main fund raising events during the year were the Spring Raffle and the Christmas Market and Raffle. In addition to these sales of books and linens were made and a Mini Market was held in the Spring. The shop has again made a substantial contribution to the income of the charity. Fuller details of all these sources of income are shown in note 2 to the accounts. As a result of our activities we have again been able to make a substantial number of gifts to various Wards and Departments as shown on pages 7 & 8 of the accounts. Financial Review Results for the year During the year 87,252 (2014: 71,238) was raised, which included a legacy of 10, ,873 (2014: 46,408) was expended or pledged on gifts, details of which are shown on pages 7 and 8 of the accounts. The results for the year incorporate the operations of the Shop which, as shown in note 6 to the accounts, showed a net profit of 22,367 (2014: 21,869). Reserves and investment policies The general reserves policy of the charity is, subject to requests, to spend on charitable gifts in any one financial year such amounts approved by the Trustees, subject to retaining a sufficient amount to pay the administrative and other costs for the current year. Investments are held mainly to generate a dependable part of the annual income, but where necessary, relevant gains are realised and used as additional income. Details of the investments are shown in note 7 to the accounts. The Trustees are sufficiently satisfied with the performance of the investments during the year, bearing in mind the national economic situation. Christchurch Benefits Ltd, continue to review and advise on our investments, which are managed by Standard Life Wealth, meeting regularly with the Finance Sub Committee. The Finance Sub Committee then reports directly to the Executive Committee. 3

6 Trustees Report for the year ended 31 March 2015 Public Benefit The Trustees have had regard to the guidance issued by the Charity Commission concerning public benefit. They are satisfied that the information given in this report and in the attached accounts, particularly regarding the nature of the activities undertaken when read in conjunction with the objects of the charity, demonstrates that the requirements to identify public benefit have been met. Plans for the Future The Trustees will continue with their fund raising activities and provision of charitable gifts in accordance with the objectives of the charity and with regard to the guidance of the Charity Commission concerning public benefit. Statement of Trustees Responsibilities The Trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable the Trustees to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the charity s Trust Deed. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on 12 May 2015 and signed on their behalf by Mrs M. de la Piquerie Chairman 4

7 Report of the independent examiner to the Trustees I report on the financial statements of The Friends of St. Thomas Hospital for the year ended 31 March 2015, which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely to the charity s Trustees, as a body, in accordance with s.144(2) of the Charities Act My examination has been undertaken so that I might state to the charity s Trustees those matters I am required to state to them in an independent examiner s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity s Trustees as a body, for my examination, for this report, or for the opinions I have formed. Respective responsibilities of members of the Trustees and the examiner The charity s Trustees are responsible for the preparation of the financial statements. The charity s Trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)), and that an independent examination is needed. It is my responsibility to: examine the financial statements (under section 145 of the 2011 Act); to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act); and to state whether particular matters have come to my attention. Basis of independent examiner s report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a true and fair view and the report is limited to those matters set out in the statement below. Independent examiner s statement In connection with my examination, no matter has come to my attention: (1) which gives me reasonable cause to believe that in any material respect, the requirements: to keep proper accounting records in accordance with section 130 of the 2011 Act; and to prepare financial statements which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. Richard Willis FCA Chartered Accountant Moore Stephens LLP Russell Square House Russell Square London WC1B 5LF Date: 5

8 Consolidated statement of financial activities for the year ended 31 March 2015 Unrestricted Restricted Total Total Notes funds funds Incoming resources From generated funds Voluntary income Legacies 10,000-10,000 - Subscriptions 6,249-6,249 6,489 Donations 5, ,132 5,246 Gift Aid recovered 3,204-3,204 - Activities for generating funds Shop sales 2(a) 41,495-41,495 40,206 Other activities 2(b) 17,980-17,980 16,799 Investment income 3 3,192-3,192 2,498 Total incoming resources 87, ,252 71,238 Resources expended Costs of generating funds Shop trading 2(a) 16,783-16,783 16,115 Other activities 2(b) Indirect expenses 4 5,246-5,246 5,107 Investment management fees 3,829-3,829 4,006 Charitable activities Gifts (pages 7 & 8) 41, ,873 46,408 Indirect expenses 4 5,245-5,245 5,107 Governance costs 5 12,618-12,618 12,381 Total resources expended 85, ,279 89,833 Net incoming/ (outgoing) resources before other recognised gains and losses 1,224 (251) 973 (18,595) Other recognised gains and losses Gains on investment assets 7 18,654-18,654 5,449 Net movement in funds 19,878 (251) 19,627 (13,146) Total funds brought forward 300,254 1, , ,462 Total Funds carried forward 320, , ,316 The notes on pages 10 to 14 form part of these financial statements. 6

9 Gifts Schedule For the year ended 31 March 2015 Wards and departments Description of Gift Amount Accident and Emergency Sympathy Cards 264 Alan Apley Ward Furniture for the Day Room 787 Albert Ward TV 329 Cardiac Outpatients Microwave, Toaster, Lights 131 Children s Eye Department Games 25 Diabetes Day Centre 2 Therapy Chairs 4,540 Dimbleby Centre Information Leaflet Holder 71 Evelina London Children s Hospital PICU Russ Ventham-Music Therapy 6,120 Evelina London Children s Hospital PICU Giggle Doctor 5,000 Henry Ward TV 329 Nightingale Ward TV 329 OPU Wheelchair 212 Ophthalmology 6 Artificial Rose Bushes 291 Ophthalmology 14 Chairs 938 Physiotherapy Pulmonary Rehab 150 Exercise Handbooks 750 William Gull Ward TV 329 William Gull Ward 4 Radios 200 William Gull Ward Shower Trolley 4,474 25,119 Unpaid pledges at 31 March 2015 Accident and Emergency Notice Board, Sofa & Armchair 1,554 Evelina London Children s Hospital OT 2 Seating Systems 4,170 Evelina London Children s Hospital OT 2 Adjustable Tables & 1 Chair 447 Evelina London Children s Hospital OT Wheelchair 345 Adult OT 7 Wheelchairs 2,939 Alan Apley Blinds 1,714 OPU Wheelchair 212 William Gull 2 Tracheostomy Trolleys 750 Plastic Surgery DVD Player, Screen & Video 1,500 13,631 38,750 7

10 Gifts Schedule For the year ended 31 March 2015 Amount Total Wards and Departments 38,750 Less: Pledges overprovided in earlier years 3,634 35,116 Others Fish Tank Maintenance 2,812 Christmas grants for wards & departments. 3,945 6,757 Total for year 41,873 Gifts from unrestricted funds 41,501 Gifts from restricted funds ,873 8

11 Group and Charity Balance Sheets as at 31 March 2015 Group Charity Notes Fixed assets Investments 7 275, , , ,482 Current assets Shop stock 1(f) 13,459 13, Debtors and prepayments 10, , Amount due from subsidiary undertaking ,909 35,507 Bank deposit accounts 1, , Bank current accounts 40,504 25,760 11,754 2,239 66,074 41,071 63,774 38,821 Creditors: amounts falling due within one year 8 (20,544) (17,237) (19,244) (15,987) Net current assets 45,530 23,834 44,530 22,834 Total assets less current liabilities 320, , , ,316 Represented by: Funds Restricted , ,062 Unrestricted 320, , , , , , , ,316 Signed on behalf of the Trustees and authorised for issue by Mrs M. de la Piquerie ) Chairman ) ) Miss K Riley ) Vice Chairman Date: 12 May 2015 The notes on pages 10 to 14 form part of these financial statements. 9

12 Notes to the financial statements For the year ended 31 March Accounting policies a) Basis of accounting The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments, and in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities issued in March All items of income and expenditure are dealt with on an accruals basis. b) Consolidation The results of the subsidiary undertaking (see note 6) have been consolidated with those of the charity on a line-by-line basis in the Statement of Financial Activities on page 6. c) Taxation The Friends of St. Thomas Hospital is a registered charity and therefore is not liable to income or Corporation tax on income derived from its charitable activities. d) Fixed assets Fixed assets which cost less than 1,000 are written off in the year of purchase. Depreciation is provided using the following rates and bases to reduce by annual instalments the cost of tangible assets over their estimated useful lives:- Office equipment 25% straight line e) Investments Investments are stated at market value and any unrealised gain or loss on the revaluation is taken to the Statement of Financial Activities. f) Stock Stocks are valued at the lower of cost and net realisable value. g) Subscriptions, donations and legacy income Credit is taken for subscriptions, general income and legacy income in the year of receipt or otherwise if future receipts are known with certainty. h) Indirect expenses Indirect expenses are apportioned on an equal basis between the three main activities in the Statement of Financial Activities on page 6. An analysis of indirect costs is shown in note 4. i) Gifts Gifts are charged to the Statement of Financial Activities in full when pledged. 10

13 Notes to the financial statements For the year ended 31 March Activities for generating funds (a) Shop Sales 41,495 40,206 Less: Cost of sales (as adjusted by opening and closing stock) 16,783 16,115 Gross profit 24,712 24,091 The Friends Shop is staffed by volunteers and is operated from facilities donated by the hospital. During the year 20,000 (2014: 27,000) was transferred from the Shop bank account to other bank accounts of the charity. (b) Other activities Income Expenses Net Net Book sales 1,161-1, Mini Market 2,158-2,158 2,290 Summer Raffle 1, ,512 1,715 Christmas Market 4,459-4,459 4,206 Christmas Raffle 2, ,297 2,214 Annual Report Advertising and donations 3,850-3,850 3,250 Automaton 1,858-1,858 1,993 17, ,295 16, Investment income Investment dividends 3,184 2,489 Bank deposit accounts 8 9 3,192 2, Indirect expenses Secretarial services 14,166 13,726 Printing, postage and stationery Insurance and subscriptions Sundries ,736 15,321 Allocated to: Cost of generating funds 5,246 5,107 Charitable activities 5,245 5,107 Governance costs (note 5) 5,245 5,107 15,736 15,321 11

14 Notes to the financial statements For the year ended 31 March Governance costs Fees paid to independent examiner* Independent examination 2,190 2,270 Accounting and taxation services 2,085 1,922 4,275 4,192 Other professional fees: Accounting Services 1,548 1,482 Annual report 1,550 1,600 Indirect expenses (note 4) 5,245 5,107 12,618 12,381 * These fees are paid to a firm in which the Independent Examiner is a Partner 6. Investment in subsidiary undertaking The charity (via nominee shareholders) has a 100% interest in The Friends of Thomas Hospital Shop Limited, a company incorporated on 11 November The results of the company have been consolidated with those of the charity as shown on page 6. The results of the company for the year ended 31 March 2015 and its balance sheet as at that date are summarised below: Results Sales 41,495 40,206 Cost of sales 16,783 16,115 Gross profit 24,712 24,091 Other expenses 2,345 2,222 Net profit for the year 22,367 21,869 Balance brought forward - - Gift aid (22,367) (21,869) Balance carried forward - - Balance Sheet Current assets 42,209 37,757 Less: current liabilities 41,209 36,757 1,000 1,000 Share capital 1,000 1,000 Notes to the financial statements 12

15 For the year ended 31 March Investments Market value at 1 April , ,180 Additions 108, ,706 Disposal proceeds (130,098) (174,840) Net gains 18,654 5,449 Market value at 31 March see below 271, ,495 Cash held by Investment Manager 3,762 2,987 _ Group total 275, ,482 Investment in subsidiary undertaking at cost (note 6) 1,000 1,000 Charity total 276, ,482 The cost of investments (excluding cash held) held at 31 March 2015 was 250,515 (2014: 266,705). The investments are held in a portfolio especially developed for charities, incorporating the investment of funds in a general spread of asset classes throughout the world. 8. Creditors: amounts falling due within one year Group Charity Pledged gifts 13,631 11,107 13,631 11,107 Accruals 6,913 6,130 5,613 4,880 20,544 17,237 19,244 15, Restricted funds: Group and Charity Balance Balance 1 April Incoming Outgoing 31 March 2014 resources resources 2015 Page Ward Cardiac and Cardiology Gastroenterology Surgical Eye Department Northumberland Ward Evelina London Children s Hospital , Funds given for specific wards or departments are treated as restricted funds. 13

16 Notes to the financial statements For the year ended 31 March Analysis of net assets between funds: Group Fixed Current Current assets assets liabilities Total Restricted Funds Unrestricted Funds 275,413 65,263 (20,544) 320, ,413 66,074 (20,544) 320, Staff and Trustee costs The charity has no employees. During the year there were no payments made to Trustees for remuneration (2014: Nil) and no expenses were reimbursed to the Trustees (2014: Nil). 14