The trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
Friends of Queen Mary's Sidcup Limited is a non-governmental, non-political, non-religious organisation. The Charity was incorporated on 24 February 2009 under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
The charity's objective is to relieve patients and former patients of Queen Mary's Hospital, Sidcup, who are sick, convalescent, disabled, infirm, or otherwise in need. It supports the charitable work of the hospital and acts as a successor to the League of Friends of Queen Mary's Hospital, Sidcup.
Additionally, the charity assists in providing amenities for patients, visitors and staff at the hospital, including running shops within the hospital. The charity through its trading subsidiary Friends Shops Limited, operate two outlets on the hospital site a café and a kiosk. The kiosk had remained closed following the Covid pandemic but re-opened in 2024 in a more convenient area of the hospital for staff and patients attending outpatients, following hospital building works.
These outlets provide a purposeful activity for local volunteers, enabling them to take part in a community project that generates tangible financial benefits. Trading surpluses are passed to the charitable parent, which applies the funds for charitable purposes, including grants requested by the hospital.
The hospital is now part of the Oxleas NHS Foundation Trust, which has undertaken a significant capital redevelopment project that is still ongoing. In setting objectives and planning activities, the Trustees have complied with their duty under Section 4 of the Charities Act 2006 to have due regard to the Charity Commission's guidance on public benefit.
All funds are held in cash deposits or interest-earning accounts. A review of the charity's accounts is currently being undertaken to maximise interest received on savings.
A representative of Queen Mary's Hospital presents applications for grants at monthly trustee meetings or in his/her absence to the Honorary Secretary prior to the meeting. The Trustees then vote on whether to approve the grant award.
In 2025, the charity donated £629.95 in sweets and stickers to the children’s Phlebotomy Department at Queen Mary’s Hospital and £1,000 to the Sidcup Speakability Group for stroke patients. Few requests were generated during 2025 due to the substantial ongoing building works on the hospital site.
The charity maintains sufficient unrestricted reserves to cover its liabilities and grant commitments. As of 31 December 2025, unrestricted reserves amounted to £635,028.
The Trustees regularly review the major risks facing the charity.
Health & Safety at Work Act: All new volunteers receive a volunteer information pack and undergo training.
Emphasis is placed on Health & Safety procedures, risk in the workplace risks, and lifting and handling. Every volunteer is in possession of a comprehensive Health & Safety handbookand volunteers sign and return an acknowledgement after completing training.
Food Safety Regulation Act 1995: Food hygiene and environmental health are closely monitored.
Housekeeping in each outlet is maintained to a high standard and regularly inspected. The temperature of chilled food delivered daily is checked for compliance, and the data is recorded. Cool cabinets and refrigerators are maintained at temperatures set by the Food Safety and Hygiene Regulations.
The charity maintains a comprehensive system of accounting and internal controls. While recognising some challenges with operating tills due to the age of some volunteers, the overall structure is believed to be as cohesive and robust as possible to minimise financial risks. Card readers were introduced in 2021, which has reduced cash handling.
The charity will continue to support Queen Mary's Hospital in the future, particularly regarding the purchase of new equipment and services required by the hospital.
The Trustees of the Charity are set out on page 1 of the Financial Statements. Trustees of the Charity are invited to join based on their professional and separate specific dedicated skills. The appointment is made by existing Charity Trustees. New trustees are invited to attend a training session which covers the obligations of the Members of the Organisation, the operational framework for the Organisation and present and future plans and objectives.
The Trustees appoint two managers who are responsible for the smooth running of the hospital shops.
The managers are required to be familiar with all aspects of Health & Safety at Work and Food and Hygiene Legislation.
The charity is based at Queen Mary's Hospital, Sidcup, Kent, and through its trading subsidiary, Friends Shops Limited, manages two retail outlets: a café and a refreshment kiosk. A new kiosk opened in 2024 in a more convenient area of the hospital for staff, patients and relatives attending the hospital.
The café opens from 7 am to 4 pm on weekdays, providing a comprehensive service to patients, relatives, and staff. A reduced service is offered at weekends for the Minor Injuries Unit. Approximately 41 volunteers provide the service, working on a managed rota system and supervised by two employed managers.
A Pricing Policy sub-committee is responsible for ensuring fair but realistic pricing for over 600 stock items.
The Charity has implemented a framework of accounting records and internal controls for managing income, expenditure, assets, and liabilities. A report is provided monthly at a Trustees' meeting, and financial information is passed to the Treasurer, who prepares Financial Statements and an overview for the Trustees.
Trustee meetings are held monthly. The Hospital representative presents grant applications for monetary requests for both medical facilities and equipment for the benefit of patients, staff and visitors particularly for items not available through Exchequer funds.
Urgent life-saving equipment is prioritised. The Honorary Secretary reports on donations and bequests, manages correspondence, and records requests in the Committee Meeting minutes. The Honorary Treasurer provides a financial statement and indicates available funds for distribution.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small company’s exemption.
The trustees' annual report (incorporating the directors' report) was approved on 01 October 2026 and signed on behalf of the board of trustees by:
The Trustees' annual report report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Friends of Queen Mary's Sidcup Limited (the charity) for the year ended 31 December 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The charity is a public benefit entity and a private company limited by guarantee, registered in England
and Wales and a registered charity in England and Wales. The address of the registered office is 98 Station
Road, Sidcup, Kent, DA15 7BY, United Kingdom.
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting
Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies
Act 2006.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of
certain financial assets and liabilities and investment properties measured at fair value through income or
expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at
the discretion of the trustees.
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Investment income on funds held on deposit is recognised when notification received from the bank confirming the interest being paid or becoming payable
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
Expenditure on raising funds includes the costs of all fundraising activities, events and non-charitable trading activities.
Grants payable are payments made for Queen Mary's Hospital Sidcup in the furtherance of the objects of the charity. An application request for a grant will be made which will then be considered by the committee and, if approved, the applicant will then be notified that the funds are available. These grants are not always taken up by the applicant and therefore provision is only made in the accounts when the grant is actually paid. A summary of the outstanding grant commitments which have not been accrued for is provided in note 10 to the accounts.
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated
impairment losses.
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
(a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
Consolidation
The charity is not required to prepare consolidated accounts in accordance with the Charities Act 2011, and has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the charity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
There are no significant estimates or assumptions made that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows: Nil
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The investment in subsidiary undertaking is a 100% shareholding in Friends Shops Limited, a trading subsidiary which operates the retail sites at Queen Mary's Hospital. All profits earned by the subsidiary are gifted by deed of covenant to Friends of Queen Mary's Sidcup Limited. The subsidiary has been valued in the financial statements at the original nominal value, which is equal to the value of reserves in the accounts of the subsidiary.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
There were no disclosable related party transactions during the year (2024 - none).
Details of the charity's subsidiaries at 31 December 2025 are as follows: