KCHC-AR-2023 Final Signed - Flipbook - Page 71
Notes to the financial statements
5.5. Creditors falling due after one year (continued)
As at 31 March 2023, grants payable falling due after
more than one year included £174,000 relating to
restricted funds (2022: £80,000).
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.
5.6. Reconciliation of grants payable
2022/2023
£’000
2021/2022
£’000
At 1 April 2022
6,228
6,397
Grants awarded in the year
2,578
964
(1,629)
(1,133)
Grants paid in the year
(22)
Grants cancelled in the year
7,155
6,228
5.7. Commitments
The Charity had NIL (2022: NIL) commitments at 31 March 2023, which do not yet satisfy all conditions for recording
as a grant payable.
6 Related party transactions
The number of Trustees at 31 March 2023 was ten (2022:
twelve). None of the Trustees received remuneration
for their services to the Charity (2021/22: £nil) and
no Trustees (2021/22: £nil) were reimbursed for costs
necessarily incurred on Charity business.
A total of £1,936 (2022: £1,994) donations were made to
the Charity by individual Trustees. Indemnity cover is
provided for Trustees by the Charity.
Professor Jon Cohen is a non-executive director of
King's and became a Trustee in December 2020.
The Charity provides the majority of its grants by
number and value to the Trust. It also receives services
from King's free of charge including offices and facilities
management.
7 Subsidiary
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 year.
8 Post balance sheet event
No events have occurred since the balance sheet date that require disclosure.
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