KCHC Annual Review 2023-24 WEB Singles - Flipbook - Page 63
Notes to the financial statements
5.5. Creditors falling due after one year
As at 31 March 2024
As at 31 March 2023
£’000
£’000
474
1,168
474
1,168
Grants payable
Grants payable comprises a number of grants to King’s
College Hospital NHS Foundation Trust where the
Trustees have committed to expenditure and costs are
expected to fall due in future years.
As at 31 March 2024, grants payable falling due
after more than one year included £349K relating to
restricted funds (2023: £174K).
5.6. Reconciliation of grants payable
2023/24
2022/23
£’000
£’000
At 1 April 2023
7,155
6,228
Grants awarded in the year
2,564
2,578
(1,820)
(1,629)
(100)
(22)
7,799
7,155
Grants paid in the year
Grants cancelled in the year
5.7. Commitments
The Charity had NIL commitments at 31 March 2024
(2023: NIL) which do not yet satisfy all conditions for
recording as a grant payable.
6. Related party
transactions
7. Subsidiary
The number of Trustees at 31 March 2024 was 12 (2023:
ten). None of the Trustees received remuneration for
their services to the Charity (2022/23: NIL) and no
Trustees (2022/23: NIL) were reimbursed for costs
necessarily incurred on Charity business.
A total of £6,153 (2023: £1,936) donations were made
to the Charity by individual Trustees. Indemnity cover
is provided for Trustees by the Charity.
The Charity provides the majority of its grants by
number and value to the Trust (see Note 4.3). It also
receives services from King’s free of charge including
offices and facilities management (see Note 3.1).
King’s College Hospital Charity owns 100% of the
issued ordinary shares of KCHC Trading Limited, a
company incorporated in England and Wales (company
registration number 11881179). The principal activities
of the subsidiary are to manage the trading activities
of King’s College Hospital Charity. KCHC Trading
Limited was dormant throughout the current year and
prior year.
8. Post balance sheet event
We received confirmation on 23 April 2024 that our
Gambling Commission application for lottery activity
had been approved.
K I N G’ S CO L L E G E H O S P I TA L C H A R I T Y A N N UA L R E P O R T A N D F I N A N C I A L S TAT E M E N T S 2 0 2 3/ 24
63
