Financial Overview

During the year, the charity received £103k in donations, which was down approximately 17% compared to last year. Legacies received totalled £72k compared to £5k in the previous year. Grants were received from NHS Charities Together’s Covid-19 Appeal totalling £31k and these have been largely spent or are in the process of being spent. Investment income of £8.4k is 27% down compared to last year.

The charity spent £158k which is just £1k down compared to last year including governance costs which have returned to a more normal level of £29k due an increase in work done and being fully staffed. Governance costs are made up of the costs of staff working to manage the funds and generally make sure that the charity is run legally and effectively. No mark-up or excess or profit is charged on this.

The value of long term investments rose in year by £24k reflecting the changing valuation of the investments held at the end of the year; these are all in the Charities, Churches and Local Authorities (CCLA) in Charities Official Investment Fund (COIF) Income Units. The CCLA COIF Income Units have a total historic cost of £137k and their market value at year end of £303k. Other investments and cash totalled £631k.

Money recorded as debtors includes interest due on investments & after-date receipts included in the accounts due to timing.

Money recorded as creditors include accruals towards the management and administration costs for the current year as well as a number of amounts owing for the purchases of the charity.

The balances held at the end of the year were £846k which is an increase of £80k in the year.

The accounts 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).