Notes to the financial statements2.4. Description and structure of fundsa) Endowment fundsDuring 2023/24, the Charity Commission agreed to liftthe restriction on the £100K received from the will ofVirginia Rowbotham, which was transferred to generalfunds. At 31 March 2024, the value of the endowmentfund was NIL (2023: £100K).b) Restricted fundsRestricted funds are made up of funds where theincome was restricted by the donors for specificuse. This includes income from specific fundraisingappeals. The funds with balances over £100,000 arelisted below:• The Cancer Treatment and Research Fund isrestricted to spending on cancer treatment andresearch activities;• The Paediatric Liver Research Laboratories Fundconsists of money donated to enable King’s CollegeHospital to build and equip brand new state-ofthe-art laboratories, learning facilities and researchactivities conducted at the laboratories;• The D E Hughes Special Trust Fund is restrictedto spending on a strategic grants programmeestablished by the Trustees to support majordevelopments at King’s College Hospital NHSFoundation Trust;• The Transforming Liver Care Fund was established toraise funds for transforming the care of children withacute liver disease;• Renal legacy (Spratt); and• Paediatric liver research (Flynn).54S U P P O R T K I N G S .O R G .U Kc) Unrestricted fundsUnrestricted funds are made up of clinicallydesignated funds, a designated fund for strategicgrants, development of capital projects and generalfunds.Donations and legacies are allocated to designatedfunds where the donor has given an indicationthat they wish the funds to be used for a particularpurpose. There are over 230 clinical designated fundsheld by the Charity for different medical specialtiesand service areas within the hospital. The value of theindividual funds range from under £1K to over £800K.At 31 March 2024, £4.87M (2023: £3.5M) was held ina designated fund for strategic purpose. The valueis equivalent to the projected level planned to beinvested in strategic projects over the three-yearperiod of the Charity’s strategy.In addition, a fund of £0.97M (2023: £1M) has been setaside for pump priming major capital projects.During the year, the Charity transferred £1.5M (2023:£3.4M) to (2023: from) designated funds from (2023:to) unrestricted general funds to support the Fund forstrategic purpose.
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