ISLE OF WIGHT NHS TRUST Isle of Wight NHS Trust Charitable Funds Annual Report & Accounts Year Ended: 31st March 2016 Registered Charity No. 1049606 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 Who We Are Welcome to our annual report for 2015/16. IOW NHS Trust Charitable Funds is a registered charity, number 1049606 and operates as the umbrella charity of the Isle of Wight NHS Trust. We would like you to support us in our valuable work so please read on and let us tell you more about ourselves, what we do, what we have achieved and how we go about spending the money given to us. Objectives and Activities during the year Key Strategic Aim The Charitable Funds strategy will focus on ensuring utilisation of those funds in an effective and timely way:• • • • To ensure that legacies and donations are maximised through Gift Aid and applied in accordance with the donors’ wishes, but in line with the charity objectives To raise the profile of Charitable Funds using a variety of means such as training events for fund managers and publication of funding decisions in e Bulletin. To promote, develop and implement specific projects through an integrated approach with Fund Managers, Friends of St. Mary’s and Healing Arts in order to focus effort and avoid duplication. To ensure that there is an Investment/Reserve Policy which maximises income and capital growth while complying with the requirements of Acts of Parliament and Trustee responsibility to minimise risk Objectives • • • • • invest in the improvement of patient healthcare and welfare through enhancing the environment and services provided by the IOW NHS Trust enhance the working lives of staff by supporting the Trust to be an employer of choice. make the most effective use of all available charitable funds, ensuring that the funds are spent appropriately enhance and not substitute government funding of the core services of the NHS maintain effective stewardship and use of the funds in accordance with the donors’ wishes. This includes careful consideration and scrutiny towards the purpose of any funds and the nature of fundraising activities to ensure they are aligned to our objectives and strategic direction. The accounting records and the day-to-day administration of the funds are dealt with by the Finance Department located on the St Mary’s Hospital site. Isle of Wight NHS Trust Charitable Fund 1 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 Activities The Charity’s main fund has NHS wide objectives as follows: “To ensure that legacies and donations are applied in accordance with the donor’s wishes, whilst making the maximum contribution to enhancing both patient and staff welfare and amenities.” The Corporate Trustee takes account of the Charity Commission’s guidance on public benefit in reviewing the spending plans for each year and in setting or reviewing the guidelines for fund managers who are authorised to spend charitable funds. Annual Review During the year, the funds continued to support a wide range of charitable and health related activities benefiting both patients and staff. In general they are used to purchase the very varied additional goods and services that the NHS is unable to provide. Every effort is made to utilise funds for the charity’s purpose. The ward charitable funds receive many donations specifically given to thank the staff and these are used for training, morale boosting facilities or amenities which strengthen the Trust staff’s capacity to serve their patients well. The charitable funds also enable staff to attend courses, not funded by the NHS, which will update them on the new ideas and modern techniques in their specialties. The General Fund receives donations and legacies that can be used for any charitable purpose relating to the NHS. This flexibility has been used to contribute towards other departments/wards purchase additional equipment when their own ward funds are insufficient. Healing Arts: Isle of Wight Healing Arts, working as a department of the Trust, provides a comprehensive range of high quality programmes linking the arts with healthcare to bring about recovery from illness, improvements in health, and promoting the well-being of the Trust’s patients, staff and the Island community. Healing Arts is held as a restricted fund within the Isle of Wight NHS Trust’s Charitable Funds. Risk Management The major risks to which the charity is exposed have been identified and considered. They have been reviewed and systems established to mitigate those risks. These have been carefully considered and there are procedures in place to review the Investment Policy and to ensure that both spending and firm financial commitments remain in line with income. Isle of Wight NHS Trust Charitable Fund 2 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 Reserves Policy The Corporate Trustee has agreed that the level of the reserves should be a minimum of £200,000 which is equal to approximately one year’s operational costs and estimated annual commitments. The Corporate Trustee can revise this amount at any time according to relevant circumstances. The Reserves currently stand at £639k and are calculated as follows:Unrestricted Reserves – General Fund Unrestricted Reserves – Designated Fund Restricted Reserves Total Reserves £115k £265k £259k £639k Review of Finances, Achievements and Performance Performance The net assets of the charitable funds as at 31st March 2016 were £639k, a decrease of £10k from 2015. The charity continues to rely on donations, legacies and investment income as the main sources of income. Total incoming resources increased by £263k overall compared to 2015. There was a decrease in general donations of £43k plus an increase of £218k in legacy income. Included in the £425k income received during the year, the charity accepted a total of £192k from legacies which were for unrestricted use. Of the total expenditure, £430k was spent on direct charitable activity across a range of programmes, compared to £274k last year. Patient Welfare & Amenities The total spend of £245k represents a vital and valuable contribution to enhancing the provision of clinical care. In addition to numerous smaller items, some larger purchases were made as follows:- Improvements to Diagnostic Imaging waiting room Specialist trolley for ICU Cold caps for Chemotherapy Various toys for Children’s Ward Garden furniture for Stroke Unit Service leaflets for the Chaplain Complimentary therapies for breast care patients Isle of Wight NHS Trust Charitable Fund 3 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 Some funds were also spent on Christmas festivities and gifts for the patients helping to make their stay as enjoyable and comfortable as possible. The total spend figure also includes £51k funding from the Friends of St Mary’s for numerous items including:- Portable ultrasound bladder scanner for District Nursing and Continence Service Works to the shop at Ryde Community Clinic Accuvein vein viewing system for Afton ward Vital signs monitor for MAAU Battery powered wheelchair for porters Various smaller items for other departments including Community Rehabilitation, Paediatric Speech & Language and Podiatry Staff Welfare & Amenities A total of £74k was spent on smaller items of equipment such as office furniture and IT equipment helping to create efficient working environments for staff. Some funds were also spent on staff functions to benefit staff morale, where donations had been left specifically for this purpose. Staff Education – Resources & Courses A total of £111k included a contribution of £49k to Trust wide Further Education Awards plus numerous other ad hoc courses. Funding of £14k was spent on resources such as educational and training materials, all helping to further the knowledge and experience of a wide range of clinical staff. Investments Cash is held within the Charities Official Investment Fund (COIF) specifically designed for charities which obtains a competitive investment income return during the year. The interest rate for the period ended 31 March 2016 was 0.45% p.a. Plans for Future Periods Mindful of the many changes in the NHS, including efficiency reviews, Service Line Reporting etc, the future direction of the charity will be shaped by changes in the NHS. The reconfiguration of services and the plans for redesigning patient care to meet the needs of the future will influence the priorities for spending charitable funds. The Corporate Trustee reviews the spending priorities for the charity annually and aligns them with the Trust’s corporate objectives and the charity’s purpose. The focus for the coming year will cover:– Isle of Wight NHS Trust Charitable Fund 4 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 - improvements to the patient experience provide support to staff through Further Education and the Trust Awards Ceremony refinements to locality working to promote integrated care support Service Transformation The Corporate Trustee will make every effort to utilise as much of the available funds as possible in furtherance of the charity’s objectives. Reference and Administrative Details The Charity, Registered Number 1049606, was entered on the Central Register of Charities on 4 October 1995. Following the transfer of provider services from the Isle of Wight NHS Primary Care Trust to form the Isle of Wight NHS Trust, the Charity now operates as the umbrella charity of the Isle of Wight NHS Trust. Within this umbrella are the individual designated funds that relate to the various wards, departments and special projects within the Trust. The charity office and principal address is: Charitable Funds Isle of Wight NHS Trust St Mary’s Hospital Newport Isle of Wight PO30 5TG Tel: 01983 822099 x 6274 Corporate Trustee With effect from 1 April 2012, the Corporate Trustee changed to the Isle of Wight NHS Trust and is governed by the law applicable to Trusts, principally the Trustee Act 2000 and the Charities Act 2011. The names of those people who served as agents (Trustees) for the Corporate Trustee during the year ended 31 March 2016, as permitted under regulation 16 of the NHS Trusts (Membership and Procedures) Regulations 1990 were as follows: Danny Fisher Eve Richardson Karen Baker Christine Palmer Chairman (ceased July 2015) Chair (from August 2015) Chief Executive Executive Director of Finance (until September 2015) Executive Director of Financial & Human Resources (from October 2015) Isle of Wight NHS Trust Charitable Fund 5 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 Dr Mark Pugh Alan Sheward Katie Gray Shaun Stacey Dr Nina Moorman Charles Rogers David King Jessamy Baird Jane Tabor Lizzie Peers Executive Medical Director Executive Director of Nursing & Quality Executive Director of Transformation & Integration (ceased 18 August 2015) Chief Operating Officer (from 18 August 2015) Non Executive Director Non Executive Director Non Executive Director Non Executive Director Non Executive Director Non Executive Financial Adviser (non voting) Under a scheme of delegated authority approved by the Corporate Trustee, the Fund Managers have authority to approve all expenditure up to £1,000. Anything above this limit will follow the process defined in the Trust’s Standing Financial Instructions. Mrs Katie Parrott, Senior Financial Accountant, acted as the principal officer overseeing the financial management and accounting for the charitable funds during the year. Miss Karrie Kennedy, Assistant Financial Accountant, undertook the day to day duties. Advisers Principal Professional Advisers Bankers Barclays Bank PLC St James Square Newport Isle of Wight Independent Examiner Ernst & Young LLP Wessex House 19 Threefield Lane Southampton SO14 3QB Tel: 01983 276130 Contact: Kathy Davis Tel: 023 8038 2285 Investment Company COIF Investment Management Ltd COIF Charity Funds 80 Cheapside London EC2V 6DZ Tel: 020 7489 6010 Isle of Wight NHS Trust Charitable Fund 6 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 Structure, Governance and Management The charity’s unrestricted fund was established using the model Declaration of Trust and all funds held on trust as at the date of registration were either part of this unrestricted fund or registered as separate restricted funds under the main charity. Subsequent donations and gifts received by the charity that are attributable to the original funds are added to those fund balances within the existing charity. The Corporate Trustee fulfils its legal duty by ensuring that funds are spent in accordance with the objects of each fund and by designating funds the Corporate Trustee respects the wishes of our generous donors to benefit patient care and advance the good health and welfare of patients, carers and staff. The Corporate Trustee has given due consideration to Charity Commission published guidance on the operation of the public benefit requirement. The charitable funds available for spending are allocated to specialties within the Trust’s management structure. Each allocation is managed by use of a designated fund within the general unrestricted fund. For example, there are charitable funds for Respiratory, Coronary Care Unit, Chemotherapy etc., plus funds for numerous wards. This maintains a clear focus on different patients and patient conditions treated at the hospital sites and enables donor wishes to be more easily respected. Non-Executive Members of the Trust Board were appointed in 2015/16 by the Trust Development Authority and Executive members of the Board are subject to recruitment by the Trust Board. Members of the Trust Board are not individual trustees under Charity Law but act as agents on behalf of the Corporate Trustee. Newly appointed members of the Trust Board are provided with copies of the Corporate Trustee’s annual report and accounts, minutes, and information about trusteeship, including Charity Commission booklet CC3, The Essential Trustee. Partnership Working and Networks The Isle of Wight NHS Trust is the main beneficiary of the charity and is a related party by virtue of being Corporate Trustee of the charity. By working in partnership with the Trust, the charitable funds are used to best effect. When deciding upon the most beneficial way to use charitable funds, the Corporate Trustee has regard to the main activities, objectives, strategies and plans of the Trust. We remain indebted to the work of the volunteers of the Isle of Wight Friends of St Mary’s, who raise thousands of pounds each year for St Mary’s Hospital and also to the many members of staff who give up much of their spare time to fund raise. Isle of Wight NHS Trust Charitable Fund 7 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 On behalf of the staff and patients who have benefited from improved services due to donations and legacies, the Corporate Trustee would like to thank all patients, relatives and staff who have made charitable donations. Approved on behalf of the Corporate Trustee:- Signed Date Signed Date Isle of Wight NHS Trust Charitable Fund 8 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 Statement of Corporate Trustee Responsibilities The Corporate Trustee is 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 and those outlined - establishing and monitoring a system of internal control; and - establishing arrangements for the prevention and detection of fraud and corruption. The Corporate Trustee is required under the Charities Act 2011 and the National Health Service Act 1977 to prepare accounts for each financial year. The Secretary of State, with the approval of the Treasury, directs that these accounts give a true and fair view of the financial position of the funds held on trust, in accordance with the Charities Act 2011. In preparing those accounts, the trustees are required to: - apply on a consistent basis accounting policies laid down by the Secretary of State with the approval of the Treasury; - 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 unless it is inappropriate to presume that the charity will continue in business. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps or the prevention or detection of fraud and other irregularities The Corporate Trustee confirms that they have met the responsibilities set out above and complied with the requirements for preparing the accounts. The financial statements set out on pages 10 to 27 attached have been compiled from and are in accordance with the financial records maintained by the trustees. By Order of the Corporate Trustee Signed: Chair ……………………………….. Date: ………………………………... Isle of Wight NHS Trust Charitable Fund 9 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUNDS 2015-2016 Statement of Financial Activities for the year ended 31 March 2016 Restricted Funds £000 Endowment Funds £000 Total Funds £000 2014-15 Total Funds £000 364 0 0 2 7 52 0 0 0 0 0 0 0 0 0 416 0 0 2 7 157 0 0 2 3 373 52 0 425 162 5 0 0 5 0 233 72 104 0 12 2 7 0 0 0 0 0 245 74 111 0 172 18 84 0 Total resources expended 414 21 0 435 274 Net (outgoing)/incoming resources before transfers Transfers:Gross transfers between funds 19 (41) 31 0 (10) (112) 0 0 0 0 0 (41) 31 0 (10) (112) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Net Movement in Funds (41) 31 0 (10) (112) Reconciliation of Funds Total Funds brought forward Total Funds carried forward 421 380 228 259 0 0 649 639 761 649 Note Unrestricted Funds £000 Income and Endowments from:Donations & Legacies Charitable Activities Other Trading Activities Investment income Other 4 6 Total incoming resources Resources expended Raising Funds Charitable activities Patient Welfare & Amenities Staff Welfare & Amenities Staff Education - Courses & Resources Other 7 8 Net (outgoing)/incoming resources before other recognised gains and losses Other recognised gains and losses Gains on revaluation of fixed assets for charity's own use Gains/losses on investment assets Acturial gains/losses on defined benefit pension schemes Isle of Wight NHS Trust Charitable Fund 10 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUNDS 2015-2016 Balance Sheet as at 31 March 2016 Notes Unrestricted Funds £000 Restricted Funds £000 Endowment Funds £000 Total at 31 March 2016 £000 Total at 31 March 2015 £000 385 385 0 0 0 0 385 385 385 385 35 0 294 329 0 0 9 9 0 0 0 0 35 0 303 338 26 0 309 335 84 0 0 84 71 Net Current Assets 245 9 0 254 264 Total Assets less Current Liabilities 630 9 0 639 649 0 0 0 0 0 630 9 0 639 649 0 0 380 0 259 0 0 0 0 0 259 380 0 228 421 380 259 0 639 649 Fixed Assets Investments Total Fixed Assets 14 Current Assets Debtors 15 Short term investments and deposits Cash at bank and in hand 16 Total Current Assets Liabilities Creditors: Amounts falling due within one year 17 Creditors: Amounts falling due after more than one year Total Net Assets Funds of the Charity Expendable Endowment Funds Restricted Income Funds Unrestricted Income Funds Total Funds The notes at pages 12 to 27 form part of these accounts. Signed: Date Designation: Signed: Date Designation: Isle of Wight NHS Trust Charitable Fund 11 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUNDS 2015-2016 Statement of Cash Flow at 31 March 2016 Notes Cash Flows from operating activities: Net cash provided by (used in) operating activities Cash Flows from investing activities: Dividends, interest and rents from investments Net cash provided by (used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period Isle of Wight NHS Trust Charitable Fund 12 Total at 31 March 2016 £000 Total at 31 March 2015 £000 (8) (4) 2 2 2 2 (6) (2) 309 311 303 309 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 Notes to the Accounts 1 Accounting Policies 1.1 Basis of Preparation The financial statements have been prepared under the historic cost convention, with the exception of investments which are included at fair value. The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015. The Corporate Trustee considers that there are no material uncertainties about the IOW NHS Trust Charitable Funds ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts. In future years, the key risks to the Charity are a fall in income from donations. The Charity is a public benefit entity. 1.2 Reconciliation with previous generally accepted accounting practice In preparing these accounts, the Corporate Trustee has considered whether any restatement of comparatives was required to comply with FRS 102 and the Charities SORP FRS 102. No restatements were required although there has been a change in the analysis of governance costs. Previously, these had been separately analysed on the face of the statement of financial activity. Governance costs are now classified as a support costs and have therefore been apportioned between fundraising activities and charitable activities. There is no effect on the total expenditure for 2014/15 or 2015/16. The analysis of support costs is shown in Note 10. 1.3 Structure of funds Where there is a legal restriction on the purpose to which a fund may be put, the fund is designated in the accounts as a restricted fund. Funds where the capital is held to generate income for charitable purposes and cannot itself be spent are accounted for as endowment funds. Other funds are classified as unrestricted funds. Funds which are not legally restricted but which the Trustees have chosen to earmark for set purposes are designated funds. The major funds held in these categories are disclosed on notes 20.1 and 20.2. Isle of Wight NHS Trust Charitable Fund 13 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 1.4 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) ii) iii) b) entitlement - arises when a particular resource is receivable or the charity's right becomes legally enforceable; certainty - when there is reasonable certainty that the incoming resource will be received; measurement - when the monetary value of the incoming resources can be measured with sufficient reliability. 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. 1.4 Resources expended and irrecoverable VAT 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 cost of generating funds are the costs associated with generating income for the funds held on trust. b) 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 to relieve those who are sick. 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. c) Support Costs These are accounted for on an accruals basis and are recharges of appropriate proportions of the costs from the Isle of Wight NHS Trust, apart from the audit fee. Isle of Wight NHS Trust Charitable Fund 14 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 1.5 Fixed Assets The only fixed assets that the Fund has are investment assets. 1.6 Investment Fixed Assets Investment fixed assets are shown at market value. Other investment fixed assets are included at trustees' best estimate of market value. 1.7 Debtors Debtors are amounts owed to the charity. They are measured on the basis of their recoverable amount. 1.8 Cash and cash equivalents Cash at bank and in hand is held to meet the day to day running costs of the charity as they fall due. Cash equivalents are short term, highly liquid investments, usually in 90 day notice interest bearing savings accounts. 1.9 Creditors Creditors are amounts owed by the charity. They are measured at the amount that the charity expects to have to pay to settle the debt. Amounts which are owed in more than a year are shown as long term creditors. 1.11 Realised 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). 1.12 Value Added Tax (VAT) No income is generated by the charity which includes VAT. Purchases made by the charity are subject to VAT. Purchases of a medical nature are liable to zero rated VAT when purchased by the charity and VAT zero rated certificates are sent when ordering these goods. Irrecoverable VAT is charged against the category of resources expended for which it was incurred. Isle of Wight NHS Trust Charitable Fund 15 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 2 Prior year comparatives by type of fund 2.1 Unrestricted Funds - Statement of Financial Activities for the year ended 31 March 2016 2015-16 £000 2014-15 £000 364 0 0 2 7 373 149 0 0 2 3 154 5 0 233 72 104 0 414 135 18 79 0 232 (41) (78) 0 0 (41) (78) 0 0 0 0 0 0 Net Movement in Funds (41) (78) Reconciliation of Funds Total Funds brought forward Total Funds carried forward 421 380 499 421 Income and Endowments from:Donations & Legacies Charitable Activities Other Trading Activities Investment income Other Total incoming resources Resources expended Raising Funds Charitable activities Patient Welfare & Amenities Staff Welfare & Amenities Staff Education - Courses & Resources Other Total resources expended Net (outgoing)/incoming resources before transfers Transfers:Gross transfers between funds Net (outgoing)/incoming resources before other recognised gains and losses Other recognised gains and losses Gains on revaluation of fixed assets for charity's own use Gains/losses on investment assets Acturial gains/losses on defined benefit pension schemes Isle of Wight NHS Trust Charitable Fund 16 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 2.1 Unrestricted Funds - Balance Sheet as at 31 March 2016 Total at 31 March 2016 £000 Total at 31 March 2015 £000 Fixed Assets Investments Total Fixed Assets 385 385 385 385 Current Assets Debtors Short term investments and deposits Cash at bank and in hand Total Current Assets 35 0 294 329 26 0 80 106 84 70 Net Current Assets 245 36 Total Assets less Current Liabilities 630 421 0 0 630 421 Liabilities Creditors: Amounts falling due within one year Creditors: Amounts falling due after more than one year Total Net Assets Isle of Wight NHS Trust Charitable Fund 17 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 2.2 Restricted Funds - Statement of Financial Activities for the year ended 31 March 2016 Income and Endowments from:Donations & Legacies Charitable Activities Other Trading Activities Investment income Other Total incoming resources Resources expended Raising Funds Charitable activities Patient Welfare & Amenities Staff Welfare & Amenities Staff Education - Courses & Resources Other Total resources expended Net (outgoing)/incoming resources before transfers Transfers:Gross transfers between funds Net (outgoing)/incoming resources before other recognised gains and losses Other recognised gains and losses Gains on revaluation of fixed assets for charity's own use Gains/losses on investment assets Acturial gains/losses on defined benefit pension schemes Net Movement in Funds Reconciliation of Funds Total Funds brought forward Total Funds carried forward Isle of Wight NHS Trust Charitable Fund 18 2015-16 £000 2014-15 £000 52 0 0 0 0 52 8 0 0 0 0 8 0 0 12 2 7 0 21 37 0 5 0 42 31 (34) 0 0 31 (34) 0 0 0 0 0 0 31 (34) 228 259 262 228 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 2.2 Restricted Funds - Balance Sheet as at 31 March 2016 Total at 31 March 2016 £000 Total at 31 March 2015 £000 Fixed Assets Investments Total Fixed Assets 0 0 0 0 Current Assets Debtors Short term investments and deposits Cash at bank and in hand Total Current Assets 0 0 9 9 0 0 229 229 Liabilities Creditors: Amounts falling due within one year 0 1 Net Current Assets 9 228 Total Assets less Current Liabilities 9 228 Creditors: Amounts falling due after more than one year 0 0 Total Net Assets 9 228 Isle of Wight NHS Trust Charitable Fund 19 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 3 Related Party Transactions The Isle of Wight NHS Trust as Corporate Trustee receives the majority of the benefit provided by Charitable Funds. However, the individual members have not undertaken any material transactions with the Isle of Wight NHS Trust Charitable Funds during the year. During the year the staff involved in administering the charity were employed by the Trust and their costs totalling £13,217 were recharged to the charity. 4 Income from donations and legacies Donations from individuals Coporate Donation Legacies 5 Unrestricted Funds £000 Restricted Funds £000 114 58 192 364 6 0 46 52 2016 Total 2015 Total £000 £000 120 58 238 416 135 0 20 155 Role of Volunteers Like all charities, the IOW NHS Trust Charitable Fund is reliant on many volunteers for their involvement in fundraising by way of organising, publicising or undertaking physical challenges to raise funds for all areas of the Trust. The volunteers consist of members of the public and employees of IOW NHS Trust. In accordance with the SORP, due to the absence of any reliable measurement basis, the contribution of these volunteers is not recognised in the accounts. 6 Total gross Income from investments COIF Interest Isle of Wight NHS Trust Charitable Fund 20 2016 Held in UK Total £000 2015 Held in UK Total £000 2 2 2 2 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 7 Analysis of expenditure on raising funds Unrestricted Funds £000 Restricted Funds £000 5 0 5 0 0 0 Fundraising events Support Costs 8 2015 Total £000 £000 5 0 5 0 0 0 Analysis of Charitable Expenditure Activities Undertaken Directly £000 9 2016 Total 2016 2015 £000 Support Costs £000 Total £000 Total £000 Grant Funded Activity Patient Welfare & Amenities (inc. equipment) Staff Welfare & Amenities Staff Education & Resources Staff Education - Courses 0 0 0 0 234 71 14 92 11 3 1 4 245 74 15 96 172 18 13 71 Total 0 411 19 430 274 Analysis of grants The charity does not make grants to individuals. All grants are made to the IOW NHS Trust to provide for the care of NHS patients in furtherance of our charitable aims. The total cost of making grants, including support costs, is disclosed on the face of the Statement of Financial Activities and the actual funds spent on each category of charitable activity, is disclosed in note 8. Isle of Wight NHS Trust Charitable Fund 21 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 10 Allocation of Support Costs and Overheads Finance Information Technology Audit - Internal Audit - External Indemnity insurance Total Unrestricted Funds Restricted Funds Total Raising Funds £000 0 0 0 0 0 0 Charitable Activities £000 14 4 0 2 -1 19 2016 Total £000 14 4 0 2 -1 19 2015 Total £000 15 3 2 3 1 24 0 0 0 16 3 19 16 3 19 24 0 24 Basis of Allocation See note below Support costs are allocated ina two stage process. On a monthly basis, we take 5% of each donation amount and transfer it to unallocated to cover a proportion of the support costs. If the total of the costs exceeds the yearly contributions then the balance is taken from the General Fund. The total value of support costs is then allocated on a pro-rata basis against the activities for annual reporting purposes. The amount allocated against Raising Funds was under £1,000 so is not evident from this table. 11 Trustees Remuneration & Expenses The Trustees have received no remuneration or expenses in 2015/16 12 Analysis of Staff Costs Salaries & wages Social security costs Other pension costs Total Average monthly number of employees in the year 2016 Total £000 11 2 1 14 2015 Total £000 11 2 2 15 2 2 Employees: Senior Financial Accountant and Financial Accountant - both full time members of staff with IOW NHS Trust. A proportion of their time is recharged to the Isle of Wight NHS Trust Charitable Fund. They are both members of the IOW NHS Trust pension scheme. Neither employees had emoluments in excess of £60,000 Isle of Wight NHS Trust Charitable Fund 22 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 13 Auditor’s remuneration The auditor’s remuneration of £2,430 (2015: £3,240) related solely to the audit with no other additional work being undertaken. 14 Analysis of Fixed Asset Investments. 2016 £000 2015 £000 Market value at 31 March Less: Disposals at carrying value Add: Acquisitions at cost Net gain on revaluation Market value at 31 March 385 0 0 0 385 385 0 0 0 385 Historic cost at 31 March 385 385 Note: These investments are all held with CCLA Investments in a Charities Official Investment Fund (COIF). 15 Analysis of Current Debtors Amounts falling due within one year: Amounts due from subsidiary and associated undertakings Trade debtors Prepayments Accrued income Other debtors Total debtors falling due within one year 16 2016 £000 2015 £000 0 0 0 22 13 35 0 0 0 20 6 26 Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents Isle of Wight NHS Trust Charitable Fund 23 2016 £000 2015 £000 303 303 309 309 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 17 Analysis of Current Liabilities Amounts falling due within one year: Loans and overdrafts Trade creditors Amounts due to subsidiary and associated undertakings Other creditors Accruals Deferred income Total creditors falling due within one year 18 2015 £000 0 0 0 82 2 0 84 0 71 0 0 71 Reconciliation of net income/(expenditure) to net cash flow from operating activities Net income/(expenditure) for 2015/16 (as per the Statement of Financial Activities) Adjustments for: Depreciation charges (Gains)/losses on investments Dividends, interest and rents from investments Loss/(profit) on the sale of fixed assets (Increase)/decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by (used in) operating activities 19 2016 £000 0 0 2016 £000 2015 £000 -10 -112 0 0 -2 0 0 -9 13 (8) 0 0 -2 0 0 100 10 (4) Details of transfers between funds Transfer From fund Reason To fund Amount Fund Type £000 Breast Care Wig Funding as agreed 2.5 Unrestricted Breast Screening General Unused balance 0.1 Unrestricted Cardiac Investigations General Diagnostic Imaging General Luccombe Ward General Paediatric Diabetes General Speech & Language General Stoma Care General Isle of Wight NHS Trust Charitable Fund Unused balance 0.4 Unrestricted Unused balance 0.3 Unrestricted Unused balance 0.1 Unrestricted Unused balance 0.2 Unrestricted Unused balance 0.1 Unrestricted Unused balance 0.1 Unrestricted 24 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 20 Analysis of Funds 20.1 Restricted funds Balance Incoming Resources Transfers Gains and Balance 31 March Resources Expended Losses 31 March 2015 2016 £000 £000 £000 £000 £000 £000 Material funds A Healing Arts B Legacy C Legacy D Legacy E NICU - Barely Born Total Name of fund 8 0 30 157 33 228 0 0 0 46 6 52 (1) 0 (1) (15) (4) (21) 0 0 0 0 0 0 0 0 0 0 0 0 7 0 29 188 35 259 Description of the nature and purpose of each fund A Healing Arts Links arts with healthcare to improve recovery & promote well-being Funds are reserved for maintenance & repairs to existing art works B Restricted Legacy (Elderly) Legacy bequeathed for Elderly Services - Now closed C Restricted Legacy (Laidlaw ) Legacy bequeathed for Laidlaw Day Hospital D Restricted Legacy (ITU) Legacy bequeathed for Intensive Care E NICU - Barely Born Specific appeal for Neonatal Intensive Care Unit - note this was incorrectly included under Unrestricted funds in 2012/13. Isle of Wight NHS Trust Charitable Fund 25 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 20.2 Unrestricted Funds The purpose of all Unrestricted funds is to benefit patient and staff welfare including education and training where appropriate. Balance Incoming Resources Transfers Gains and Balance 31 March Resources Expended Losses 31 March 2015 2016 General Fund Designated Funds Breast Care Cancer Research Chapel Chemotherapy Childrens Ward Colwell Ward Community Heart Failure Coronary Care Unit Dr Harms Research Fund Intensive Therapy Unit Nurses Orthopaedic Department Post Grad Med Centre Respiratory Department Rheumatology Fund Stroke Services Wig Fund Other funds with movements less than £1000 or balances less than £4000 ** Friends of St Marys Roundings Sub Total £000 £000 £000 £000 £000 £000 119 258 (264) 2 0 115 69 19 5 66 4 4 17 8 5 2 4 4 6 18 22 8 3 6 0 5 8 11 0 1 0 3 4 0 0 0 6 0 3 0 (17) 0 (3) (12) (10) 0 (11) 0 (1) (2) (1) (1) 0 (13) (3) (5) (4) (3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 55 19 7 62 5 4 7 8 7 4 3 3 6 11 19 6 2 36 0 2 421 14 51 3 373 (13) (51) (3) (414) (2) 0 0 0 0 0 0 0 35 See next section 0 2 380 The purpose of all Unrestricted funds is to benefit patient and staff welfare including education and training where appropriate. Isle of Wight NHS Trust Charitable Fund 26 Annual Report & Accounts 31st March 2016 ISLE OF WIGHT NHS TRUST CHARITABLE FUND ANNUAL REPORT & ACCOUNTS AS AT 31 MARCH 2016 20.2 Unrestricted Funds (Continued) Balance Incoming 31 March Resources 2015 Resources Expended Transfers Gains and Losses Balance 31 March 2016 ** Breakdown of other funds with movements less than £1,000 or balances less than £4,000 Accident & Emergency Afton Ward Allergy Research Alverstone Ward Ambulance General Appley Ward Breast Screening Unit Cancer CNS Cardiac Investigations Childrens Community Fund Community Fund Community Stroke (CSRT) Diabetic Centre Diagnostic Imaging District Nurses Dr Al-bahrani Research fund Dr Magier Research Fund Endoscopy Unit England Fund Sevenacres Helipad Learning Disability Fund Luccombe Ward Maternity Medical Assesment Unit Ophthalmic Department Paediatric Diabetes Rehabilitation Unit Sevenacres Staff Fund Speech & Language Therapy St Helens Ward Stoma Care Urology Unit Whippingham Ward Rounded to £000's Isle of Wight NHS Trust Charitable Fund £ 1,481 968 126 1,099 3,135 3,173 88 2,513 396 484 0 519 3,339 338 904 878 1,961 1,181 592 613 556 237 1,127 1,333 1,821 275 2,171 471 100 941 93 1,424 1,232 35,569 36 £ 175 0 0 125 825 50 155 2,506 770 1,990 0 300 0 0 0 2,923 519 0 1,905 0 0 33 300 103 0 0 150 60 0 0 0 1,250 45 14,184 14 27 £ (9) (120) (126) (176) (241) (2,472) (8) (1,627) 0 (135) 0 (197) (459) 0 0 (878) (1,887) 0 (923) 531 (127) (102) (1,155) (219) (1,821) 0 (908) 160 0 (100) 0 (40) (137) (13,176) (13) £ 0 0 0 0 0 0 (107) 0 (396) 0 0 0 0 (338) 0 0 0 0 0 0 0 (102) 0 0 0 (275) 0 0 (100) 0 (93) 0 0 (1,411) (2) Annual Report & Accounts 31st March 2016 £ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 £ 1,647 848 (0) 1,048 3,719 751 128 3,392 770 2,339 0 622 2,880 (0) 904 2,923 593 1,181 1,574 1,144 429 66 272 1,217 0 0 1,413 691 (0) 841 0 2,634 1,139 35,166 35