Notes to the financial statements1.10. Financial instrumentsThe Charity has elected to apply the provisions ofSection 11 ‘Basic Financial Instruments’ and Section 12‘Other Financial Instruments Issues’ of FRS 102 to all ofits financial instruments.Financial instruments are recognised in the Charity’sbalance sheet when the Charity becomes party to thecontractual provisions of the instrument. Financialassets and liabilities are offset, with the net amountspresented in the financial statements, when there isa legally enforceable right to set off the recognisedamounts and there is an intention to settle on a netbasis or to realise the asset and settle the liabilitysimultaneously.With the exceptions of prepayments and deferredincome, all other debtor and creditor balances togetherwith investments are considered to be basic financialinstruments under FRS 102.1.11. Fund accountingWhere there is a legal restriction on the purpose towhich a fund may be put, the fund is classified either as:• A restricted fund; or• An endowment fund.Restricted funds are those where the donor hasprovided for the donation to be spent in furtherance ofa specified charitable purpose.that affect the amounts recognised in the financialstatements. The following judgements and estimatesare considered by the Trustees to have most significanteffect on amounts recognised in the financialstatements:• The basis on which legacies are recognised inthe year (recognition takes place when receipt isprobable);• The point at which grants payable from designatedfunds are recognised as constructive obligations;• The allocation of grant commitments betweenamounts falling due within one year and falling duein more than one year; and• Estimating the value of gifts in kind.Estimates used in the financial statements,particularly with respect to the value of listedinvestments, where values are subject to globalmarket forces, are subject to a greater degree ofuncertainty and volatility.In the view of the Trustees in applying the accountingpolicies adopted, no other judgements were requiredthat have a significant effect on the amountsrecognised in the financial statements nor do anyestimates or assumptions made carry a significant riskof material adjustment in the next financial year.1.13. Linked charitiesEndowment funds arise when the donor has expresslyprovided that the gift is to be invested and only theincome of the fund may be spent.Unrestricted funds represent those monies whichare available for application towards achieving anycharitable purpose that falls within the Charity’scharitable objectives.• Cancer Treatment and Research Special Trust;• King’s College Hospital Patient’s Trust;Designated funds comprise unrestricted funds thathave been set aside by the Trustees and designated forparticular purposes.• King’s College Hospital Fund; and1.12. Critical accounting estimates andareas of judgementPrior to 1 April 2016, the Charity’s operations werecarried out through a registered charity of the samename (charity number 230729) and the financialinformation relating to the predecessor charity isconsolidated within these financial statements.In preparing financial statements, it is necessary tomake certain judgements, estimates and assumptions50Each of the following charities is registered separatelywith the Charity Commission under the umbrellaregistration for the main Charity:S U P P O R T K I N G S .O R G .U K• David E Hughes Hospital Trust Fund.
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