QCH Report FINAL V2 - Flipbook - Page 25
Queenscourt Hospice (Registered company number 2102320)
Notes to the Financial Statements
For the year ended 31 March 2024
1
Accounting policies (continued)
Freehold Land:
Freehold Buildings:
Leasehold Improvements:
Equipment:
Fixtures and Fittings:
Motor Vehicles:
NIL
Between 2% and 4% per annum of cost
10% per annum of cost
Between 5% and 50% per annum of cost
Between 4% and 20% per annum of cost
Between 17% and 20% per annum of cost
Investments
Fixed asset investments and shares are included at market value at the balance sheet date.
Investment property is shown at most recent valuation.
The Statement of Financial Activities includes the net gains and losses arising on revaluations
and disposals throughout the year.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event
that will probably result in the transfer of funds to a third party and the amount due to settle the
obligation can be measured reliably. Creditors are normally recognised at their settlement
amount after allowing for any trade discounts due.
Financial instruments
The Group only has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised at transaction value
and subsequently measured at their settlement value.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of
the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for
particular purposes. The aim and use of each designated fund is set out in the notes to the
financial statements.
Restricted funds 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.
Pension costs and other post-retirement benefits
The Group contributed to the personal pension plans of 142 (2023: 137) of its employees. The
pension cost charge represents contributions for the period payable to by the Group.
Superannuation employers’ contributions are paid for employees remaining in the NHS pension
scheme.
P a g e | 25
