QCH Report FINAL V2 - Flipbook - Page 41
Queenscourt Hospice (Registered company number 2102320)
Notes to the Financial Statements
For the year ended 31 March 2024
18
Movement in funds
Designated Funds
Designated Funds represent a part of the Unrestricted Funds that have been set-aside by the
Trustees for specific purposes, these being:
Tangible Fixed Assets
This is required in order to fund future depreciation charges.
Budget Deficit
This is to provide cover for the forthcoming year’s forecast deficit
with the exception of depreciation charges which are included within
tangible fixed assets.
Capital Investment
This is to provide funds for both committed and planned capital
investment with the exception of where the Charity are holding any
restricted funds for this purpose.
The Dr Karen Groves
Legacy Development
Fund
This fund was launched 2023 with the objective of boosting support
to keep Queenscourt in service. Contributions to the fund are for
general use and are not restricted.
Specialist Palliative
Care Contracts
This fund has been set up so that any profits earned on these
contracted services can be carried forward and applied to support
expenditure or losses in future years and ensure that at no point will
the Hospice be supporting the contracts from charitable funds.
Contingency
This comprises funds set aside in the event that any future
organisational restructure may require non-recurring expenditure.
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