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THE FRIENDS OF GUY'S HOSPITAL
Charity Registration No: 264150
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2005
THE FRIENDS OF GUY'S HOSPITAL
CONTENTS
Page
Legal and Administrative Information 1
Executive Committees’ Report 2 - 3
Independent Auditors’ Report 4
Statement of Financial Activities 5 - 6
Balance Sheet 7
Notes to the Accounts 8 - 15
WILKINS KENNEDY CHARTERED ACCOUNTANTS BRIDGE HOUSE LONDON BRIDGE LONDON SE1 9QR
THE FRIENDS OF GUY'S HOSPITAL
LEGAL AND ADMINISTRATIVE INFORMATION
Executive committee
President: Lord Harris of Peckham
Vice Presidents: K. Glendinning MBE Lady Harris Hon Mrs. J. McBeath Lady Robens Mr. W. White
Chairman: Dr. M. O’Brien (appointed in May 2005)
Vice Chairman: M. Watson
Treasurer: K.M. Jeremiah
Other Members: Her Honour Judge S. Coates Mrs. D. Hay Professor R. Hay (resigned in April 2005) P. Hiscock A.J. Roles Professor J. Rowe C. Saunders J.R. Simpson (resigned in April 2005) Dr. T. Mant O.H. Shaheen MS FRCS (retired as Chairman in May 2005) Dr. D. Tony Mrs. A. Franklin co-opted member Professor S. Chellecombe (appointed in April 2005)
Principal office
Level 2, Thomas Guy House, Guy’s Hospital, St. Thomas’ Street, London, SE1 9RT.
Auditors
Wilkins Kennedy, Bridge House, London Bridge, London SE1 9QR.
Bankers
National Westminster Bank Plc, London Bridge Branch, 10 Southwark Street, London, SE1 1TT.
THE FRIENDS OF GUY'S HOSPITAL
executive COMMITTEES’ REPORT
The Executive Committee are pleased to present their report together with the financial statements of the Charity for the year ended 30th September 2005.
Legal and administrative information set out on page 1 forms part of this report. The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the Charity’s Articles of Constitution, current statutory requirements and the Statement of Recommended Practice - Accounting and Reporting by Charities.
Constitution
The Friends of Guy’s Hospital is a registered Charity number 264150. The Charity was formed by an amalgamation of The Guild of Ex-Patient and Friends of Guy’s Hospital, and Guy’s Hospital Ladies Association, and traces its origin back to 1895. The Charity’s governing documents are its Articles of Constitution.
Objects and activities
The Charity provides amenities for patients and staff. Medical research is also supported and substantial grants are made for works of improvement which benefit patients, staff and visiting relatives. The Charity is able, from time to time, to purchase medical and surgical equipment which Guy's Hospital is not able to buy from its own budget. The Charity's wholly owned subsidiary, The Friends of Guy's Trading Company Limited, operates a shop in the grounds of Guy's Hospital selling flowers, gifts, second hand clothes and sundry items in order to raise funds for the Charity.
Organisation The Executive Committee who served during the year are set out in the Charity’s Legal and Administrative Information. Members of the committee are appointed by Executive Committee. At each annual general meeting one third of committee members retire from office and may be reappointed.
Review of activities
The financial statements for the year ended 30th September 2005 show net incoming resources of £84,318 (2004 incoming resources £134,073).
Subscriptions and donations amounted to £47,049 (2004 - £50,120). £15,000 (2004 £15,000) was donated from The Friends of Guy’s Trading Company Limited, the Charity’s subsidiary, which runs the shop in the grounds of Guy’s Hospital.
Legacies receivable for the year were £41,012 (2004 - £155,706) and investment and deposit account interest £27,820 (2004 - £19,582).
Reserves policy
The Friends of Guys Hospital have a reserve policy of holding £400,000 because of the uncertain timing of their income and expenditure. A large part of the income comes from legacies and donations which by their nature are irregular and uncertain. Conversely it is obliged to manage the uncertain nature of grant applications which can include very expensive items of medical equipment where additional specific contributions can sometimes be obtained from wealthy benefactors provided the Friends themselves are in a position to match the donors funds. Holding a substantial reserve ensures the Friends are always in a position to maximize the benefit it is able to provide to the Hospital and the Medical and Dental Faculty of the embedded University. However the Friends are also faced with considerable expenditure in the foreseeable future in respect of the cost of reconstructing their shop premises which provides a steady core annual income for the Charity. Reconstruction is expected to occur during 2006 and therefore the Charity’s unrestricted funds at the year end are at the higher level of £734,205.
Investment powers
Under the Articles of Constitution, the Charity has the power to make any investment which the Executive Committee sees fit.
THE FRIENDS OF GUY'S HOSPITAL
executive COMMITTEES’ REPORT
(continued)
Risk management
The Executive Committee actively review the major risks to which the Charity is exposed on a regular basis and confirm that systems have been established to mitigate those risks.
Responsibilities of members of the Executive Committee
The Articles of Constitution requires the members of the Executive Committee 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 surplus or deficit of the charity for that period. In preparing those financial statements the members of the Executive Committee are required to:
SYMBOL 183 \f "Symbol" \s 10 \h Select suitable accounting policies and then apply them consistently; SYMBOL 183 \f "Symbol" \s 10 \h Make judgements and estimates that are reasonable and prudent; SYMBOL 183 \f "Symbol" \s 10 \h State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and SYMBOL 183 \f "Symbol" \s 10 \h Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The members of the Executive Committee are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditors
A resolution will be proposed at the Annual General Meeting that Wilkins Kennedy be appointed as auditors to the charity for the ensuing year.
Approved by the Executive Committee and signed on their behalf by:
Dr. M. O’Brien Chairman Guy's Hospital, St. Thomas Street, London, SE1 9RT.
THE FRIENDS OF GUY'S HOSPITAL
INDEPENDENT
AUDITORS’ REPORT
TO THE EXECUTIVE COMMITTEE OF THE FRIENDS OF GUY'S HOSPITAL
We have audited the financial statements of The Friends of Guy’s Hospital for the year ended 30th September 2005 which comprise the Statement of Financial Activities, the Balance Sheet and the Related Notes numbered 1 to 18. These financial statements have been prepared under the historical cost convention as modified by the revaluation of investments and the accounting policies set out therein.
This report is made solely to the Charity’s members as a body, in accordance with regulations issued under Section 44 of the Charities Act 1993. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of members of the Committee and auditors The members of the Executive Committees’ responsibilities for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards are set out in the statement of responsibilities of members of the Executive Committee.
Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and United Kingdom Auditing Standards.
We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Charities Act 1993. We also report to you if, in our opinion, the Executive Committees’ report is not consistent with the financial statements, if the Charity has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding the members of the Executive Committees’ remuneration and transactions with the Charity is not disclosed.
We read the Executive Committees’ Report and consider whether it is consistent with the audited financial statements. We consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the financial statements. Our responsibilities do not extend to any other information.
Basis of opinion We conducted our audit in accordance with Auditing Standards issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the members of the Committee in the preparation of the financial statements, and of whether the accounting policies are appropriate to the Charity's circumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements.
Opinion In our opinion the financial statements give a true and fair view of the state of affairs of the Charity as at 30th September 2005 and of the incoming resources and application of resources, in the year then ended and have been properly prepared in accordance with the Charities Act 1993.
Wilkins Kennedy Chartered Accountants and Registered Auditors Bridge House London Bridge London, SE1 9QR
THE FRIENDS OF GUY'S HOSPITAL
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30TH SEPTEMBER 2005
Restricted Unrestricted Total Total funds funds funds funds Note 2005 2005 2005 2004
Incoming resources Subscriptions and donations 2,111 44,938 47,049 50,120 Legacies 500 40,512 41,012 155,706 Grants receivable (2) - 8,000 8,000 - Activities for generating funds: - Hire of galleria - 18,365 18,365 17,718 - Other income (3) - 3,579 3,579 6,820 - Christmas and other stalls income - 8,688 8,688 4,232 Investment income and interest (4) - 27,820 27,820 19,582 ______ ______ ______ ______
Total incoming resources 2,611 151,902 154,513 254,178
Less: Costs of generating funds: - Depreciation of plant and machinery - (3,380) (3,380) (3,380) ______ ______ ______ ______ Net incoming resources available for charitable application 2,611 148,522 151,133 250,798 ______ ______ ______ ______ Charitable expenditure - Grants and donations payable (5) 2,611 13,603 16,214 67,843 - Support costs (6) - 37,899 37,899 32,682 - Managing and administering the charity (7) - 12,550 12,550 12,485 ______ ______ ______ ______
Total charitable expenditure 2,611 64,052 66,663 113,010 ______ ______ ______ ______
______ ______ ______ ______ Net incoming resources before revaluations - 84,470 84,470 137,788
Other recognised gains and losses - Unrealised (loss) on investment - (152) (152) (3,715) ______ ______ ______ ______ Net incoming resources before transfers c/fwd. - 84,318 84,318 134,073
THE FRIENDS OF GUY'S HOSPITAL
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30TH SEPTEMBER 2005
Restricted Unrestricted Total Total funds funds funds funds Note 2005 2005 2005 2004
Net incoming resources before transfers b/fwd. - 84,318 84,318 134,073
Gross transfers between funds (3,380) 3,380 - - ______ ______ ______ ______
Net movement in funds (9) (3,380) 87,698 84,318 134,073
Total funds brought forward 10,140 646,507 656,647 522,574 ______ _______ _______ ______
Total funds carried forward £6,760 £734,205 £740,965 £656,647 ______ _______ _______ ______
The Statement of Financial Activities includes all gains and losses recognised in the year.
None of the charity’s activities were acquired or discontinued during the above two financial years.
The notes on pages 8 to 15 form part of these financial statements.
THE FRIENDS OF GUY'S HOSPITAL
BALANCE SHEET
AS AT 30TH SEPTEMBER 2005
Note 2005 2004
Fixed assets Tangible assets (10) 6,922 10,806 Investment in subsidiary (11) 2 2 _____ _____
6,924 10,808 _____ _____ Current assets Investments (13) 117,319 117,471 Debtors (14) 10,330 61,166 Cash on deposit 656,770 516,520 Cash at bank and in hand 10,299 4,979 ______ ______
794,718 700,136
Creditors: amounts falling due within one year (15) (60,677) (54,297) ______ ______
Net current assets 734,041 645,839 ______ ______
Net assets £740,965 £656,647 ______ ______ Funds Unrestricted surplus (16) 734,205 646,507 Restricted surplus (16) 6,760 10,140 ______ ______
£740,965 £656,647 ______ ______
Approved by the Committee on and signed on their behalf by:
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Dr. M. O’Brien - Chairman
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K.M. Jeremiah - Treasurer
The notes on pages 8 to 15 form part of these financial statements.
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2005
1. Accounting policies
The principal accounting policies, which have been consistently applied, are:-
(a) Basis of accounting
The financial statements are prepared under the historical cost convention modified to include the revaluation of investments, in accordance with applicable accounting standards and the Statement of Recommended Practice “Accounting and Reporting by Charities”.
(b) Basis of consolidation
The Charity has taken advantage of the exemption provided by the Statement of Recommended Practice “Accounting and Reporting by Charities” not to prepare group financial statements. The financial statements present information about the Charity as an individual undertaking and not about its group.
(c) Incoming resources
Income from donations and grants, including capital grants, is included in incoming resources when these are receivable, except as follows:-
· when donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods. · when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met.
When donors specify that donations and grants, including capital grants, are for particular restricted purposes, which do not amount to pre-conditions regarding entitlements, this income is included in incoming resources of restricted funds when receivable.
Legacies are also recognised on a receivable basis. In accordance with this policy, legacies are recognised when advice is received from a representative of an estate that a payment will be made and the amount involved can be quantified. Legacies of uncertain timing or amount that have been advised at the year end are not recognised, but disclosed in a note to the accounts.
(d) Resources expended
Resources expensed are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.
Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities.
(e) Tangible fixed assets
Fixed assets are stated at original historical cost less aggregate depreciation.
Depreciation is provided at rates calculated to write off the cost of each asset on a straight line basis over its estimated useful life as follows:-
Office equipment - 20% per annum Plant and machinery - 20% per annum
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2005
(f) Investments
Investments are shown at market value. Unrealised gains and losses are recorded in the statement of financial activities as they arise.
(g) Fund accounting
Funds held by the charity are either:
Unrestricted funds – these are funds which can be used in accordance with the charitable objects at the discretion of the Executive Committee.
Restricted funds – these are funds that can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
(h) Cash flow statement
The Charity has taken advantage of the exemption in Financial Reporting Standard 1 from producing a cash flow statement on the grounds that it is a small Charity.
2. Grants receivable Restricted Unrestricted Total Total funds funds funds funds 2005 2005 2005 2004
Lord Harris of Peckham £- £8,000 £8,000 £- ___ _____ _____ ______
3. Other income Restricted Unrestricted Total Total funds funds funds funds 2005 2005 2005 2004
Income from automaton - 3,179 3,179 5,242 Concert and CD income - - - 1,043 Sale of cook books - - - 5 Advertising income - 400 400 530 ____ _____ _____ ____
£- £3,579 £3,579 £6,820 ____ _____ _____ ____
4. Investment income Restricted Unrestricted Total Total funds funds funds funds 2005 2005 2005 2004
Income from investments - 7,100 7,100 7,100 Interest on deposit account - 20,720 20,720 12,482 ___ ______ ______ _____
£- £27,820 £27,820 £19,582 ___ ______ ______ _____
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2005
5. Grants and donations payable Restricted Unrestricted Total Total funds funds funds funds 2005 2005 2005 2004
Research grants 500 15,580 16,080 15,284 Medical committee - (23,093) (23,093) 41,668 Amenities grants - 19,305 19,305 7,021 Christmas grant - 1,811 1,811 1,670 Donation: Breast cancer unit 2,111 - 2,111 2,200 ____ ______ ______ ______
£2,611 £13,603 £16,214 £67,843 ____ ______ ______ ______
Individual research, medical committee and amenities grants committed/(unutilised/recovered) for the year ended 30th September 2005 are as follows:-
2005 Amenities grants Thomas Guy Fitness Centre - 3 exercise bikes 4,633 - replacement of sauna 8,093 Flowers for chapel, bereavement office and paediatric mortuary 7,000 Palliative care – Furniture for carers 1,343 Palliative care – Toys for children (445) Nucler medicine – TV/Video (27) Guy’s Nursery – Toys/equipment (1,202) Radiology – Fridge (90) _____
£19,305 _____
Medical grants Stanley Chemotherapy Unit – Cancer back-up-file 225 Paediatric Metabollic – body warn alarms 192 Paediatric – Resuscitation manikins (200) Anaesthetics Department – Doppler Probe (12,500) Dietetic Department – Pictorial guide (850) Haematology Day Unit – Cancer backup files (190) GKT Dental Institute – Upgrade teaching facilities (5,036) Orthopaedic equipment (5,043) Site nurse practitioner service – electronic stethoscope 309 ______
£(23,093) ______
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2005
5. Grants and donations payable - (continued) 2005
Research grants Conservative dentistry 2,480 Cancer Research UK 2,500 Virology 2,500 Reproductive health 4,000 Asthma 3,900 Department of Medical and Molecular Genetics 7,400 Medical Genetics 3,900 Wolfson Centre for age related diseases 3,200 Department of immunobiology 3,700 Paediatric care Caleb Ward 2,500 Less research grants already committed in 2004 (20,000) ______
£16,080 _____
Reconciliation of grants payable 2005 2004
Commitments at beginning of year 39,947 41,133
Commitments made in the year 44,412 74,042
Grants recovered or not requested by grantee within one year of date granted (20,230) (8,399) _____ _____
Grants payable for the year 24,182 65,643
Grants paid during the year (17,887) (66,829) ______ ______
Commitments at end of year £46,242 £39,947 ______ ______
A further £10,079 of grants were recovered during the year, being amounts not requested by the grantee after more than one year of the date granted.
6. Support costs Restricted Unrestricted Total Total funds funds funds funds 2005 2005 2005 2004
Staff costs (direct costs of fundraising) - 36,204 36,204 32,043 Printing and stationery - 1,049 1,049 - Telephone - 268 268 287 Depreciation of tangible fixed assets - 378 378 352 ___ _____ _____ _____
£- £37,899 £37,899 £32,682 ___ _____ _____ _____
Part of the Charity’s administrative, overhead and staff costs have been allocated to support costs on the basis of a proportional allocation of such expenditure where they are identifiable as an integral part of the cost of activities in furtherance of the charity’s objects.
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2005
7. Managing and administering the Restricted Unrestricted Total Total Charity funds funds funds funds 2005 2005 2005 2004
Staff costs (general administration) - 4,022 4,022 3,561 Printing and stationery - 117 117 - Accountancy - 5,405 5,405 5,905 Telephone - 30 30 32 Bank charges /interest - 555 555 813 Sundry expenses - 2,295 2,295 2,057 Depreciation of tangible fixed assets - 126 126 117 ___ _____ _____ _____
£- £12,550 £12,550 £12,485 ___ _____ _____ _____
8. Staff costs and Executive Committees’ remuneration 2005 2004
Total staff emoluments for the year were as follows:
Wages and salaries 34,148 30,982 Social Security costs 6,078 4,622 _____ _____
£40,226 £35,604 _____ _____
The average number of staff excluding members of the Executive Committee, employed during the year was 2 2 ____ ____
Members of the Executive Committee received no remuneration (2004 - £nil) and were reimbursed £nil (2004 - £nil) of their expenses in the year.
9. Net movement in funds 2005 2004
Net movement in funds is arrived at after charging:- £ £
Depreciation 3,884 3,849 Auditors’ remuneration 5,405 5,905 _____ _____
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2005
10. Tangible fixed assets Plant and Office machinery equipment Total Cost At beginning and end of year 16,900 6,924 23,824 _____ _____ _____
Depreciation At beginning of year 6,760 6,258 13,018 Charge for the year 3,380 504 3,884 _____ _____ _____
At end of year 10,140 6,762 16,902 _____ _____ _____ Net book value At end of year £6,760 £162 £6,922 _____ _____ _____
At beginning of year £10,140 £666 £10,806 _____ _____ _____
11. Fixed asset investments Subsidiary undertaking
At beginning and end of year £2 ___
Subsidiary undertaking
Subsidiary undertakings and the proportions of share capital held by The Friends of Guy's Hospital are as follows:- 2005 2004
The Friends of Guy's Trading Company Limited 100% 100%
The above subsidiary undertaking is incorporated in Great Britain and registered in England and Wales.
The company runs a shop in the grounds of Guy's Hospital selling flowers, gifts and confectionery and second hand clothes.
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2005
12. Profit and loss account 2005 2004
Turnover 55,832 53,339 Cost of sales (16,024) (21,187) _____ _____
Gross profit 39,808 32,152 Administrative expenses (23,975) (18,235) Donation to The Friends of Guy’s Hospital (15,000) (15,000) _____ _____
Profit/(loss) on ordinary activities before interest and taxation 833 (1,083) Interest receivable and similar income 324 73 _____ _____
Profit/(loss) on ordinary activities before taxation 1,157 (1,010) _____ _____
Retained in subsidiary £1,157 £(1,010) _____ _____
At 30th September 2005, the aggregate of the share capital and reserves of The Friends of Guy's Trading Company Limited amounted to £3,928 (2004 - £2,771).
13. Current asset investments 2005 2004
Market value at beginning of year 117,471 121,186 Loss in the year (152) (3,715) ______ ______
Market value at end of year £117,319 £117,471 ______ ______ Investments at market value comprise: Quoted UK Government securities £117,319 £117,471 ______ ______
Historical cost £87,756 £87,756 ______ ______
14. Debtors 2005 2004
Amounts due from group undertakings 5,619 9,384 Prepayments and accrued income 4,711 51,782 _____ ______
£10,330 £61,166 _____ ______
15. Creditors: amounts falling due within one year 2005 2004
Grants payable 46,242 39,947 Accruals 14,435 14,350 ______ _____
£60,677 £54,297 ______ _____
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2005
16. Funds Other recognised At start of Incoming Outgoing gains and At end of year resources resources losses Transfers year Unrestricted General 646,507 151,902 (67,432) (152) 3,380 734,205 Restricted Automaton 10,140 - - - (3,380) 6,760 Breast Cancer Fund - 2,111 (2,111) - - Children and Heart Patients Fund - 500 (500) - - - _______ ______ ______ ______ _____ _______
£656,647 £154,513 £(70,043) £(152) £- £740,965 _______ ______ ______ ______ _____ _______
Automaton represents a grant made to the charity by Guy’s and St. Thomas’ Charitable Foundation for the purchase of an automated coin slot donations box for Guy’s Hospital. The restricted fund reduces annually by the amount of depreciation associated with the asset originally acquired.
Breast Cancer Fund relates to a donation received by the Charity specifically for the Breast Cancer Unit of Guy’s Hospital. The money was donated to the Unit in the year.
Children and Heart Patients Fund relates to a legacy received by the Charity specifically for the benefit of children and heart patients. The money formed part of the £2,500 grant made for Paediatric Care in Caleb Ward during the year.
17. Analysis of net assets between funds Restricted Unrestricted funds funds Total
Tangible fixed assets 6,760 162 6,922 Investment in subsidiary - 2 2 Cash on deposit - 656,770 656,770 Cash at bank and in hand - 10,299 10,299 Other net current assets - 66,972 66,972 ______ ______ ______
£6,760 £734,205 £740,965 ______ ______ ______ 18. Related party transactions
(i) Lord Harris of Peckham, the Charity’s President has made donations totalling £8,000 to the Charity during the year.
(ii) During the year the Charity received a donation of £15,000 from The Friends of Guy’s Trading Company Limited.
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