|
THE FRIENDS OF GUY'S HOSPITAL
Charity Registration No: 264150
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2006
THE FRIENDS OF GUY'S HOSPITAL
CONTENTS
Page
Legal and Administrative Information 1
Executive Committees’ Report 2 - 4
Independent Auditors’ Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 - 16
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
Vice Chairman: M. Watson
Treasurer: K.M. Jeremiah
Associate Members: Her Honour Judge S. Coates Mrs. D. Hay P. Hiscock A.J. Roles Professor J. Rowe (resigned in July 2006) C. Saunders Dr. T. Mant O.H. Shaheen MS FRCS Dr. D. Tong Mrs. A. Franklin (co-opted member until July 2006 when became full member) Professor S. Challacombe
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 2006.
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, and the Charities Act 1993.
STRUCTURE, GOVERNANCE AND MANAGEMENT
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.
Organisational Structure The Executive Committee who served during the year are set out in the Charity’s Legal and Administrative Information. Associate members of the Committee are appointed by the Executive Committee. The Committee meets four times a year to administer the charity and at each annual general meeting one third of committee members retire from office and may be reappointed. A secretary, Mrs Pat Hutton, is appointed by the Committee to manage the day-to-day operations of the Charity.
No Committee members had any contract or arrangement of a material nature with the Charity during the year under review.
Induction and Training of Executive Committee Members A process of induction for new members is being devised, which will include meetings with staff and the provision of key information, including the following:
· Mission Statement and Policy · Key Contacts · Role Description · Duties and Responsibilities Relationships with Affiliated OrganisationsThe Charity has a wholly owned subsidiary, The Friends of Guy’s Trading Company Limited, which operates the 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.
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. A high proportion of income arises from fundraising and the Executive Committee regularly monitor the progress of fundraising through the year.
OBJECTIVES 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.
Main objectives for the year The main objectives for the year were to continue to make grants for research, medical equipment and amenities for the benefit of patients, staff and visiting relatives. A list of grants made is shown in note 4 of the financial statements.
Strategies for achieving objectives The strategy of maintaining a high profile for the Friends within the hospital and therefore to maximise incoming resources was achieved by various fundraising activities during the year, including the Christmas Fair and raffle, hire of the galleria and encouraging the renewal of subscriptions.
THE FRIENDS OF GUY'S HOSPITAL
executive COMMITTEES’ REPORT (continued)
Review of activities The main fundraising activities of the Charity during the year were the hire of the galleria to outside traders, running stalls at the Christmas Fair and other events at the hospital during the year. Income from these activities rose by over £1,000 compared to 2005, much of which was due to the success of the Christmas raffle.
The financial statements for the year ended 30th September 2006 show net outgoing resources of £13,345 (2005: net incoming resources of £84,318). The Executive Committee closely monitor the financial position of the Charity throughout the year.
Subscriptions and donations amounted to £26,154 (2005: £32,049). £18,000 (2005: £15,000) was donated from the Charity’s subsidiary, from the sale of goods in the Friends’ shop. The higher donation was possible due to an increase in the subsidiary’s net profit from £16,157 in 2005 to £18,760 in 2006.
Legacies receivable for the year were £19,415 (2005: £41,012) and investment and deposit account interest £28,275 (2005: £27,820).
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 2006/07 and therefore the Charity’s unrestricted funds at the year end are at the higher level of £724,240.
Investment powers Under the Articles of Constitution, the Charity has the power to make any investment which the Executive Committee sees fit.
Plans for future periods The key objectives for the following financial year are to ensure the smooth transition of the activities of the Charity’s subsidiary when it starts to trade in the new shop, which is currently under construction. Negotiations are currently taking place with the owners of the site with regard to the lease terms.
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. THE FRIENDS OF GUY'S HOSPITAL
executive COMMITTEES’ REPORT (continued)
Statement as to disclosure of information to auditors So far as the Executive Committee are aware, there is no relevant audit information of which the Charity’s auditors are unaware, and each member has taken all the steps that he or she ought to have taken as a member in order to make himself or herself aware of any relevant audit information and to establish that the Charity’s auditors are aware of that information.
Auditors A resolution for the re-appointment of Wilkins Kennedy as auditors to the Charity will be submitted to the Annual General Meeting.
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 TRUSTEES 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 2006 which comprise the Statement of Financial Activities, the Balance Sheet and the Related Notes. These financial statements have been prepared in accordance with the accounting policies set out therein and the requirements of the Statement of Recommended Practice: Accounting and Reporting by Charities.
This report is made solely to the Charity’s trustees 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 trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Respective responsibilities of trustees and Auditors As described in the statement of responsibilities of members of the Executive Committee the Charity’s trustees are responsible for the preparation of the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland).
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 report to you whether in our opinion the information given in the Executive Committees’ Report is consistent with the Financial Statements.
Basis of opinion We conducted our audit under Section 43 of the Charities Act 1993 and in accordance with International Standards on Auditing (UK and Ireland) 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 trustees 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, in accordance with United Kingdom Generally Accepted Accounting Practice, of the state of the Charity's affairs as at 30th September 2006 and of its incoming resources and application of resources in the year then ended; · the financial statements have been properly prepared in accordance with the requirements of regulation 3 of the Charities (Accounts and Reports) Regulations 2005; and · the information given in the Executive Committee’s Report is consistent with the financial statements.
Wilkins Kennedy Bridge House, London Bridge, Chartered Accountants London SE1 9QR and Registered Auditor
THE FRIENDS OF GUY'S HOSPITAL
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30TH SEPTEMBER 2006
Restricted Unrestricted Total Total funds funds funds funds Note 2006 2006 2006 2005
INCOMING RESOURCES Incoming resources from generated funds Voluntary income - 45,569 45,569 81,061 Activities for generating funds - 31,749 31,749 30,632 Investment income and interest - 46,275 46,275 42,820 ______ ______ ______ ______
Total Incoming Resources (2) - 123,593 123,593 154,513 ______ ______ ______ ______ RESOURCES EXPENDED Cost of generating funds - 45,990 45,990 44,402
Charitable activities - 77,832 77,832 16,214
Governance costs - 10,105 10,105 9,427
______ ______ ______ ______
Total resources expended (3) - 133,927 133,927 70,043 ______ ______ ______ ______ Net incoming/(outgoing) resources before other recognised losses - (10,334) (10,334) 84,470
Other recognised losses - unrealised loss on investment - (3,011) (3,011) (152) ______ ______ ______ ______ Net incoming/(outgoing) resources before transfers - (13,345) (13,345) 84,318
Transfers (3,380) 3,380 - - ______ ______ ______ ______
NET MOVEMENT IN FUNDS (6) (3,380) (9,965) (13,345) 84,318
Fund balances brought forward 1 October 2005 6,760 734,205 740,965 656,647 ______ _______ _______ ______
FUND BALANCES CARRIED FORWARD 30 SEPTEMBER 2006 £3,380 £724,240 £727,620 £740,965 ______ _______ _______ ______
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 16 form part of these financial statements. THE FRIENDS OF GUY'S HOSPITAL
BALANCE SHEET
AS AT 30TH SEPTEMBER 2006
Note 2006 2005
Fixed assets Tangible assets (7) 3,380 6,922 Investment in subsidiary (8) 2 2 _____ _____
3,382 6,924 _____ _____ Current assets Investments (10) 114,308 117,319 Debtors (11) 12,514 10,330 Cash on deposit 638,096 656,770 Cash at bank and in hand 11,022 10,299 ______ ______
775,940 794,718
Creditors: amounts falling due within one year (12) (51,702) (60,677) ______ ______
Net current assets 724,238 734,041 ______ ______
Net assets £727,620 £740,965 ______ ______ Funds Unrestricted funds (13) 724,240 734,205 Restricted funds (13) 3,380 6,760 ______ ______
£727,620 £740,965 ______ ______
The financial statements were approved by the Executive Committee on and signed on their behalf by:
........................................
Dr. M. O’Brien - Chairman
.......................................
K.M. Jeremiah - Treasurer
The notes on pages 8 to 16 form part of these financial statements.
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2006
1. Accounting policies
The principal accounting policies, which have been consistently applied, are:-
(a) Basis of accounting
These financial statements have been prepared under the historical cost convention except that investments are carried at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP 2005) issued in March 2005.
(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 as the gross income, after consolidation adjustments of the group in the accounting period is no more than the threshold for a statutory charity audit. 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 full 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.
· Costs of generating funds are those costs incurred in attracting voluntary income. · Charitable expenditure comprises grants made to facilitate the purchase of medical and surgical equipment by Guy's Hospital, and for works of improvement which benefit patients, staff and visiting relatives. · Governance costs include those incurred in the governance of the charity and are primarily associated with constitutional and statutory requirements.
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.
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2006
(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
(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. Incoming Resources 2006 2005 £ £
2.1 Voluntary Income Subscriptions and donations 26,154 32,049 Legacies 19,415 41,012 Grants receivable (Lord Harris of Peckham) - 8,000 __________ __________ £45,569 £81,061 __________ __________
At the year end legacies amounting to £16,818 (2005: £nil) have not been recognised as it was uncertain when they would be received. THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2006
2. Incoming Resources - continued 2006 2005 £ £ 2.2 Activities for generating funds - Hire of galleria 18,170 18,365 - Other income 3,446 3,579 - Christmas and other stalls income 10,133 8,688 __________ __________ £31,749 £30,632 __________ __________ Other income is made up of: - Income from automaton 2,885 3,179 - Advertising income 300 400 - Printer cartridge income 261 - __________ __________ £3,446 £3,579 __________ __________ 2.3 Investment income Income from listed investments 7,100 7,100 Interest on deposit account 21,175 20,720 Income from subsidiary 18,000 15,000 __________ __________
£46,275 £42,820 __________ __________
Total Incoming Resources £123,593 £154,513 __________ __________
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2006
4. Grants and donations payable Restricted Unrestricted Total Total funds funds funds funds 2006 2006 2006 2005
Research grants - 43,776 43,776 16,080 Medical committee - 25,149 25,149 (23,093) Amenities grants - 7,426 7,426 19,305 Christmas grant - 1,481 1,481 1,811 Donation: Breast cancer unit - - - 2,111 ____ ______ ______ ______
£- £77,832 £77,832 £16,214 ____ ______ ______ ______
Individual research, medical committee and amenities grants committed/(unutilised/recovered) for the year ended 30th September 2006 are as follows:-
2006 Amenities grants Orthopedic Department – Leaflet rack 256 Orthopedic Department – Seating for patients 4,500 Orthopedic Department – Safety mat 685 Restorative Dentistry – Refurbishment of x-ray rooms 5,500 Palliative Medicine Department – Furniture 621 Spiritual Health Care – Musicians on special worship occasions 1,000 Colposcopy Unit – TV/DVDs 300 Statue in memory of Dr Bob Knight 4,000 Palliative Care – Furniture for carers (1,343) Thomas Guy Fitness Centre – replacement of sauna (8,093) ______
£7,426 _____
Medical grants ENT Department – Data projector 1,732 Urogynaecology Department – Electrical stimulation equipment 4,463 Day Surgery Unit – 3 Anaesthesia infusion pumps 5,030 Clinical Neuroscience Department 2,150 Anaesthetics Department 12,500 Paediatric Metabolic – Body warn alarms (192) Stanley Chemotherapy Unit – Cancer back-up file (225) Site Nurse Practitioner Service – Electronic stethoscope (309) ______
£25,149 ______
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2006
4. Grants and donations payable - (continued) 2006
Research grants Medical Education 7,000 Health & Social Care 2,300 Craniofacial Development 4,000 Anatomy & Human Sciences 4,000 Clinical Pharmacology 4,000 Cardiology 3,300 MRC Development – Neurobiology 4,000 Diabetes & Endocrinology 4,000 Nuclear Biology 4,000 Wolfson Centre for Age Related Diseases 7,200 Wolfson Centre for Age Related Diseases (24) ______
£43,776 _____
Reconciliation of grants payable 2006 2005
Commitments at beginning of year 46,242 39,947
Commitments made in the year 88,037 44,412
Grants recovered or not requested by grantee within one year of date granted (10,205) (20,230) _____ _____
Grants payable for the year 77,832 24,182
Grants paid during the year (84,166) (17,887) ______ ______
Commitments at end of year £39,908 £46,242 ______ ______
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2006
5. Staff costs 2006 2005
Total staff emoluments for the year were as follows:
Wages and salaries 36,176 34,148 Social Security costs 6,477 6,078 _____ _____
£42,653 £40,226 _____ _____
The average number of staff, excluding members of the Executive Committee, employed during the year was 2 2 ____ ____
None of the employees received remuneration exceeding £60,000 in the year (2005: none).
Members of the Executive Committee received no remuneration (2005: £nil) and were reimbursed £nil (2005: £nil) of their expenses in the year.
6. Net movement in funds 2006 2005
Net movement in funds is arrived at after charging:- £ £
Depreciation 3,542 3,884 Amounts paid to auditors - for audit 4,840 4,405 - for other services 1,000 1,000 _____ _____
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2006
7. Tangible fixed assets Plant and Office machinery equipment Total Cost At beginning of year 16,900 6,924 23,824 Additions - - - Disposals - (569) (569) _____ _____ _____
At end of year 16,900 6,355 23,255 _____ _____ _____
Depreciation At beginning of year 10,140 6,762 16,902 Charge for the year 3,380 162 3,542 Released on disposal - (569) (569) _____ _____ _____
At end of year 13,520 6,355 19,875 _____ _____ _____ Net book value At end of year £3,380 £ - £3,380 _____ _____ _____
At beginning of year £6,760 £162 £6,922 _____ _____ _____
8. 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:- 2006 2005
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 2006
9. Profit and loss account of subsidiary undertaking 2006 2005
Turnover 54,351 55,832 Cost of sales (13,989) (16,024) _____ _____
Gross profit 40,362 39,808 Administrative expenses (21,822) (23,975) Donation to The Friends of Guy’s Hospital (18,000) (15,000) _____ _____
Profit on ordinary activities before interest and taxation 540 833 Interest receivable and similar income 300 324 _____ _____
Profit on ordinary activities before taxation 840 1,157 Tax on profit on ordinary activities (80) - _____ _____
Profit for the year retained in subsidiary £760 £1,157 _____ _____
At 30th September 2006, the aggregate of the share capital and reserves of The Friends of Guy's Trading Company Limited amounted to £4,688 (2005: £3,928).
10. Current asset investments 2006 2005
Market value at beginning of year 117,319 117,471 Loss in the year (3,011) (152) ______ ______
Market value at end of year £114,308 £117,319 ______ ______ Investments at market value comprise: Quoted UK Government securities £114,308 £117,319 ______ ______
Historical cost £87,756 £87,756 ______ ______
11. Debtors 2006 2005
Amounts due from group undertakings 6,849 5,619 Prepayments and accrued income 5,665 4,711 _____ ______
£12,514 £10,330 _____ ______
THE FRIENDS OF GUY'S HOSPITAL
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2006
12. Creditors: amounts falling due within one year 2006 2005
Grants payable 39,908 46,242 Accruals 11,794 14,435 ______ _____
£51,702 £60,677 ______ _____
13. Funds Balance Other Balance 1 October recognised 30 September 2005 Income Expenditure losses Transfers 2006 Unrestricted General 734,205 123,593 (133,927) (3,011) 3,380 724,240 Restricted Automaton 6,760 - - - (3,380) 3,380 _______ ______ ______ ______ _____ _______
£740,965 £123,593 £(133,927) £(3,011) £- £727,620 _______ ______ ______ ______ _____ _______
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.
14. Analysis of net assets between funds Restricted Unrestricted funds funds Total
Tangible fixed assets 3,380 - 3,380 Investment in subsidiary - 2 2 Cash on deposit - 638,096 638,096 Cash at bank and in hand - 11,022 11,022 Other net current assets - 75,120 75,120 ______ ______ ______
£3,380 £724,240 £727,620 ______ ______ ______ 15. Related party transactions
During the year the Charity received a donation of £18,000 from its wholly owned subsidiary, The Friends of Guy’s Trading Company Limited. At the year end an amount of £6,849 was receivable from The Friends of Guy’s Trading Company Limited. The amount is interest free and without a fixed repayment date.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||