Temple Street Annual Report 2015

T E MP LE STREET FOU N DAT I ON A N N UA L R EP O RT & ACCO U N TS 2 01 5

AN NUA L R E PO RT & ACCO UN TS 2 01 5

1

T E MP LE STREET FOUN DAT I ON A N N UA L R EP O RT & ACCO U N TS 2 01 5

FUNDS R A I S E D LI VE S SAV ED

FUNDS RAIS E D, LIVE S SAVE D

CONTENTS

OUR VISION & MISSION

4

WELCOME – CHAI R MAN & CEO

6

WHER E YOUR MONEY GOES

9

JACOB’S STORY

10

HOSP ITAL R EDEVELOP MENT & N E W S E RV I CE S

12

VITAL EQUIP MENT

14

MEDICAL R ESEAR CH

15

PATIENT SUP P ORT SERVICES

17

P LANNING FOR THE FUTUR E

18

ACCOUNTS

19

DI R ECTOR S AND OTHER I NFOR M ATION

20

STATEMENT OF FI NANCI AL ACTIV ITIE S

21-22

BALANCE SHEET

23

STATEMENT OF CASH FLOWS

24

NOTES TO THE FI NANCI AL STATE M E N TS

2

25 -37

3

FOUN T E MP LE STREET FOU N DAT I ON A N N UA L R EP O RT & ACCO U N TS 2 01 5

M ISS IO N & VI SI ON

FUNDS RAIS E D, LIVE S SAVE D

SU P P O RT I N G T EM P L E ST R EET’S L I F E- SAV I N G WO R K

For more than 140 years, Temple Street Children’s Hospital has been the first port of call for sick and injured children all over Ireland. Around the clock, seven days a week, its doctors and nurses work tirelessly to heal sick children and bring comfort to worried parents.

And this year, over 143,000 children came through the doors of its hospital seeking the special care that only Temple Street can provide.

OVER 143,000 CHILDREN WERE TREATED IN TEMPLE STREET CHILDREN’S HOSPITAL IN 2015.

52%

37%

11%

OUTPATIENTS DEPARTMENT

EMERGENCY DEPARTMENT

IN-PATIENTS

74,937

53,043

15,672

Here in Temple Street Foundation, our aim is to support this life-saving work and ensure that our little patients receive the world-class treatment they need and deserve.

We do this by funding new medical equipment, supporting ground-breaking research, revitalising worn-out wards and providing a range of patient support services.

But these improvements are only possible with the generous donations we receive from individuals, communities and corporate supporters. This support saves lives every day – creating bright futures for some of the sickest children in Ireland.

“OUR AIM IS TO SUPPORT THIS LIFE-SAVING WORK AND ENSURE OUR LITTLE PATIENTS RECEIVE THE WORLD-CLASS TREATMENT THEY NEED AND DESERVE.”

53%

1330 CT SCANS

6325

2400

OPERATIONS WERE CARRIED OUT

MRI SCANS

OF CHILDREN TREATED IN TEMPLE STREET WERE UNDER THE AGE OF SIX

MI SSI ON STATEMENT To make a real difference to the children and parents in Temple Street Children’s University Hospital by funding the re-development of hospital facilities, purchasing vital life-saving equipment, financing research and by creating a caring environment.

CARING FOR CHILDREN FROM EVERY COUNTY

MONAGHAN

11,261 DUBLIN

97,261

CAVAN

1,782 VI SI ON STATEMENT To raise funds to enable Temple Street Children’s University Hospital to continue to provide world class medical care to babies and children from all over Ireland in a family focused environment.

WICKLOW

3,106

GALWAY

1,469 CORK

1,276 Temple Street treats sick children from every county in Ireland - with hundreds of thousands of patients from all over the country coming through our doors every year. Above is a snapshot of where just some of these children came from in 2015.

4

5

T E MP LE STREET FOUN DAT I ON A N N UA L R EP O RT & ACCO U N TS 2 01 5

C H AI R M AN & C E O W E LCO ME Welcome to Temple Street Foundation’s 2015 Annual Report. As we look back on the past year, we’re reminded what a privilege it is to be part of an organisation that makes such a profound difference in the lives of children every day.

FUNDS RAIS E D, LIVE S SAVE D

“WE ARE INCREDIBLY LUCKY TO HAVE SUCH UNWAVERING SUPPORT AND WE KNOW NONE OF WHAT WE DO WOULD BE POSSIBLE WITHOUT THIS SUPPORT.”

2015 has been the most successful year yet in the charity’s history, with €6.7million income from our fundraising activities. And we are thrilled to share these successes with you as we look to the future with optimism about what we can accomplish for Temple Street Children’s University Hospital.

DENISE FITZGERALD Chief Executive, Temple Street Foundation

DAVID MCCANN Chairman, Temple Street Foundation

6

making the hospital a better place sends such a strong message of support to patients, families and Temple Street staff.

In the last 12 months we have seen a record number of families and communities fundraising for Temple Street and our campaigns and events have continued to go from strength to strength. We are incredibly lucky to have such unwavering support and we know none of what we do would be possible without this support.

Creating a positive and healing environment for sick children goes far beyond bricks and mortar. As we head into 2016, the hospital and the Foundation continue to work closely together to ensure funds generously donated are put to best use across four key priorities; life-saving equipment, new services, medical research and patient and parental support services.

Since 2001, Temple Street Foundation has generated more than €50million to meet the hospital’s most urgent needs and ensure that we remain a leader in clinical care and medical research.

Once again, we have continued to see positive growth in the number of supporters giving on a monthly basis to our Miracle Club. This type of commitment allows us to forecast and plan more effectively each year which really is invaluable.

As patient numbers continue to rise, the pressure on the hospital’s facilities continues to grow. And it is of vital importance that we are in a position to meet these demands. With this in mind, we continue to actively review our fundraising strategy and mechanisms to ensure that we can continue to raise funds in a sustainable way in the coming months and years.

2015 really has been a very positive year; however with no guaranteed income and as we wait patiently for a decision to be made on the new children’s hospital, we must continue to invest in the future. We must grow and evolve with the needs of the hospital and the patients it treats today to ensure they can continue to deliver world class care to every family that needs it.

Another busy year has passed in Temple Street with over 143,000 children treated here in 2015.

The support of our new National Advisory Council (NAC) in recent years has proven invaluable. This group of dedicated volunteers have been working tirelessly behind the scenes to help develop our presence right across the country. In the year ahead, we will build on this momentum by creating a number of regional advisory groups who can assist us at a local level to achieve our ambitious goals. By working together we can lead transformational change that will improve the lives of sick children and their families all over Ireland.

As always we are fully committed to fundraising openly, honestly and transparently, so that you can clearly see where donations are put to use in the hospital. Your trust is extremely important to us.

We are immensely grateful to all our corporate supporters, who help us spread the Temple Street message to a wider net; garnishing support through their colleagues and extended networks. Their dedication to

Most importantly, thank you to every single person who gives so generously to Temple Street. Your faith and trust in Temple Street Foundation is helping us to transform our hospital and save little lives every single day.

We would like to acknowledge the leadership of our dedicated Board members, who freely give their time and expertise. Thank you also to the management and staff of Temple Street Children’s University Hospital for their support and guidance throughout the year.

7

T E MP LE STREET FOUN DAT I ON A N N UA L R EP O RT & ACCO U N TS 2 01 5

FUNDS RAIS E D, LIVE S SAVE D

WHERE YOUR MONEY GOE S Funds generously donated to the hospital go to support our four main priorities: redeveloping outdated facilities, purchasing vital life-saving equipment, funding medical research and investing in patient and parental support services

201 5: €4, 846, 9 4 0

Everywhere you look in Temple Street in every ward and every department - you can see our generous donors’ funds hard at work. From essential medical equipment to modern, patient-centered facilities, the impact of these donations is felt every day.

And behind the scenes, these vital funds are also being used where they are needed most in developing new treatments and cures for our patients, and giving families the support they badly need at difficult times.

"IN TEMPLE STREET FOUNDATION WE RELY ON OUR AMAZING FAMILY OF SUPPORTERS TO KEEP THE HOSPITAL GOING AND MAKE CHANGE HAPPEN." Denise Fitzgerald, Chief Executive, Temple Street Foundation

62%

DE S I G N ATE D TO OU T PAT I E N TS U N I T: € 3 ,000,0 0 0 *

23%

E QU I PM E N T: € 1,12 8 ,0 6 4

6%

PAT I E N T S E RV I C E S : € 2 8 6 ,0 69

5%

RE S E A R C H : € 2 50,41 7

4%

RE DE V E LO PM E N T: € 18 2 ,39 0

*2015 commitment – pending Completion of Outpatients Unit

8

9

T E MP LE STREET FOUN DAT I ON A N N UA L R EP O RT & ACCO U N TS 2 01 5

FUNDS RAIS E D, LIVE S SAVE D

JACOB ’ S STO RY

Jacob is now three years old and growing rapidly. He must regularly visit the Metabolic Clinic for check-ups and tests, and Conor describes it as their ‘safety net’. He says, “Getting Jacob to go for his appointment is never a problem - the clinic is so childcentered. In fact, our problem is getting him to leave! It’s great that when we say, ‘we need to go to the hospital today’, that he isn’t scared or anxious in any way.”

In order to test Jacob’s blood samples, the Metabolic Lab uses a specialised piece of equipment called an Amino Acid Analyser.

This is used to test the levels of the problem amino acid in Jacob’s blood. Temple Street is the only hospital in the Republic of Ireland to provide this service, and everyone affected by a metabolic disorder is tested here – even as adults.

In 2015, thanks to our supporters, a new Amino Acid Analyser was bought for the hospital, replacing an old and unreliable machine.

Being able to purchase this crucial piece of machinery ensures that metabolic lab has the best possible equipment on hand to carry out its vital screening and patient monitoring 24/7.

“BEING TAUGHT HOW TO TAKE HIS BLOODS WAS SCARY, I WAS WORRIED ABOUT GETTING IT WRONG. THERE WAS JUST SO MUCH TO TAKE IN, IT WAS PRETTY OVERWHELMING.”

When little Jacob Byrne arrived into the world, his parents Gemma and Conor wanted nothing more than to bring their new baby home safe and sound. But their worlds were turned upside-down just one day after arriving home from the hospital when they received a call from the screening unit. It was a call they hoped they’d never get.

Jacob’s new-born tests revealed that he had a very rare genetic condition called Phenylketonuria (PKU). In PKU, the body is unable to break down a particular amino-acid in foods, which builds up in the blood and can have devastating consequences if untreated. It meant that Jacob would have to immediately go on a special diet and be monitored extremely carefully over the course of his entire life.

Mum Gemma says, “We spent that night crying and looking at Jacob, just wondering what we’d done wrong, feeding him milk that I knew was doing him harm. My heart was broken.”

“GETTING JACOB TO GO FOR HIS APPOINTMENT IS NEVER A PROBLEM - THE CLINIC IS SO CHILD-CENTERED. IN FACT, OUR PROBLEM IS GETTING HIM TO LEAVE!”

Jacob’s parents find that preparation is the key to managing his condition. Jacob can have four ‘exchanges’ a day, which are measurements of foods within his daily allowance. Gemma says that they soon realised how big a part food plays in their lives – in particular their social lives. “There have been days when I just can’t take saying no to Jacob any more but I am his parent, I have to be strong for him now as this is something he will have to deal with for the rest of his life and it’s my job to give him the strength to do that.”

These days Jacob is just like any three-year-old should be – running around and playing! Dad Conor says, “He’s my little PKU superhero and I love him for it. I still wish he could join me for a steak some day!”

The very next day, Jacob’s anxious parents brought him to Temple Street’s Metabolic Clinic, where they could ask their many, many questions. The treatment for PKU involves a protein restricted diet for life, and taking regular supplements which contain amino acids, vitamins and minerals. This also meant that Jacob would have to follow a diet that is largely based on synthetic foods, supplied by the pharmacy, and low protein vegetables.

Conor says, “I had never heard of PKU so just getting my head around that was tough. Being taught how to take his bloods was scary, I was worried about getting it wrong. There was just so much to take in, it was pretty overwhelming.” But by keeping the level of the problem amino acid within a safe range, there was no reason why Jacob couldn’t live a full and healthy life.

10

Little Jacob Byrne playing in the multi-sensory room.

11

T E MP LE STREET FOUN DAT I ON A N N UA L R EP O RT & ACCO U N TS 2 01 5

HOSPI TA L R E D EVE LO P M E N T & NE W S ERV I C ES

FUNDS RAIS E D, LIVE S SAVE D

“THE DOCTORS AND NURSES IN TEMPLE STREET TRY THEIR BEST TO LOOK AFTER PATIENTS IN THE CURRENT ENVIRONMENT BUT THAT’S NOT WHAT THEY NEED. THE REQUIREMENT IS VERY DIFFERENT. THE TRUTH IS THE FACILITIES AS A WHOLE ARE COMPLETELY INADEQUATE. THIS NEW UNIT IS LONG OVERDUE - IT’S NOT A COMPLIMENT OR A LUXURY - IT IS A NECESSITY AND A FOUNDATION THAT IS NEEDED FOR OPTIMAL PATIENT CARE.” Dr. Atif Awan, Consultant Nephrologist

Temple Street is a national centre of excellence for paediatric Neurology and Renal Dialysis & Transplantation

BUILDING A WORLD-CLASS NEUROLOGY & RENAL UNIT €5MILLION TOTAL COST The Foundation’s plans to develop a new Neurology & Renal Outpatients Unit at Temple Street is the single biggest project in our history and will cost E5million to construct. This year, we are delighted to have moved one step closer to making this modern, spacious facility a reality.

The existing Neurology Unit currently operates out of what was once an attic, making it an extremely cramped environment. This unit is dedicated to treating children suffering from complex conditions like cerebral palsy, epilepsy and rare brain disorders. As you can imagine, they require specialist care and a bespoke environment tailored to their needs. On any given day there could be eighty staff, patients and family members in the department, putting extreme pressure on already limited and exhausted facilities.

12

The picture in the Renal Department is much the same – as patients are treated for a range of kidney disorders in cramped and outdated conditions. Every child in Ireland with kidney problems is referred to Temple Street for diagnosis and treatment. As a result, the current area it occupies is no longer fit for purpose.

To accommodate both of these units, we plan to construct a new two-storey building above the existing Outpatients Department with a designated floor for each. This new build will transform patients’ experience and treatment.

It will increase capacity and provide additional clinical rooms with spacious waiting rooms and patient play areas. Having a new child friendly environment for both Neurology and Renal will make a huge difference to patients and families, giving them much needed space and privacy. It should also significantly reduce waiting times.

Construction on this new unit will begin in early 2016 and has only been made possible with the phenomenal support of our dedicated network of donors and fundraisers – thank you to everyone who has donated to make this a reality for our young patients.

13

T E MP LE STREET FOUN DAT I ON A N N UA L R EP O RT & ACCO U N TS 2 01 5

FUNDS RAIS E D, LIVE S SAVE D

VI TAL EQ UI P M EN T

MEDICAL RESEARCH

IN 2015 €1,128,000 WAS SPENT ON PURCHASING VITAL EQUIPMENT FROM ULTRASOUND SCANNERS AND MICROSCOPES TO ECG MACHINES AND DIALYSIS MACHINES.

THE GROUNDBREAKING RESEARCH THAT IS CARRIED OUT IN TEMPLE STREET IS VITAL TO DEVELOPING NEW TREATMENTS AND CURES FOR OUR LITTLE PATIENTS.

TESTING FOR INFECTIOUS DISEASES €37,500 When a child arrives in Temple Street with a suspected infection, our Microbiology Laboratory is on hand to help identify the problem. This helps inform our doctors and nurses as to the best treatment for our little patients. New state-of-the-art equipment purchased for the laboratory this year has made a huge difference to the length of time it takes to test a patient’s blood sample and pinpoint the infection rapidly and reliably. This means less time in hospital as worried parents wait for a diagnosis and treatment that will help their little ones get better sooner.

AMINO ACID ANALYSER €103,000 The amino acid analyser tests babies for the signs of twenty rare and potentially fatal metabolic disorders. These conditions can make it impossible for children to break down fats, protein or carbohydrates. Early screening and diagnosis means that the child is put on the correct diet immediately. These analysers are crucial for monitoring metabolic conditions over a lifetime. Temple Street is the only hospital in the Republic of Ireland that offers this important monitoring.

Temple Street is currently undertaking research in metabolics, neurosurgery, obesity management, cystic fibrosis, paediatric surgery, bone health, physiotherapy to name but a few.

The Foundation actively funds this important research in a number of key areas. Below are examples of some the vital research we funded in 2015: REVIEWING THE NEWBORN SCREENING PROGRAMME FOR CONGENITAL HYPOTHYROIDISM Dr. Niamh McGrath Congenital hypothyrodism (CHT) is a rare and very serious condition where babies’ thyroid glands cannot make enough thyroid hormone. It affects around fifty babies born in Ireland each year and causes permanent brain damage if not treated immediately after birth.

INFUSION PUMPS €117,500 When a child is ill in hospital, infusion pumps are used to precisely deliver vital fluids, pain relief and medications. This year, a large number of new state-of-the-art syringe and infusion pumps were purchased for four of our wards and theatre. They replace large, bulky and heavy pumps that were up to 14 years old.

The new equipment is modern, portable and light-weight. These new machines are now standard across the hospital.

14

Research is a core part of Temple Street’s work. It paves the way for future clinical care and the development of new and life-changing treatments. In Temple Street, research and care go hand in hand. Temple Street collaborates with many national and international research teams, with many clinicians, nurses and health professionals involved.

Temple Street is the only hospital in Ireland that carries out the national new-born screening programme that involves testing a small blood sample taking from the baby’s heel. Our labs test samples from every baby in Ireland for a variety of potentially life-threatening conditions.

PHYSIOTHERAPY STUDY: TORTICOLLIS IN INFANTS Anthea Seager - Senior Physiotherapist Torticollis literally means ‘twisted neck’ in Latin and is a condition that affects young babies in which the head is turned or tilted to one side.

This study focuses on how the condition is diagnosed and treated by physiotherapists in Ireland and involves taking videos of babies who attend the physiotherapy department for Torticollis.

The condition can be caused by neck muscle injury or by flatness on the side of the head, and means that the baby’s head falls to that side, sometimes causing considerable pain.

These recordings are then shared with a panel of physiotherapists for their input, with a view to enhancing accuracy of diagnosis and treatment plan of babies affected.

SEED FUNDING Temple Street Foundation provided two seed funding grants in 2015, which are small grants integral to the development of new research studies. This funding supports pilot studies that explore potential new areas of research development. The seed projects funded in 2015 focused on the evolution and treatment of bacterial meningitis and studying the RSV respiratory virus in Irish children over a ten year period.

This study is a review of the screening programme that tests for CHT, to make sure that Temple Street is meeting international standards, as advancements are made in the diagnosis and treatment of this serious condition.

15

FUNDS RAIS E D, LIVE S SAVE D

PATIENT SUPPORTS TEMPLE STREET FOUNDATION IS COMMITTED TO SUPPORTING FAMILIES BY FUNDING A RANGE OF INITIATIVES TO REDUCE STRESS AND PROVIDE A POSITIVE HOSPITAL ENVIRONMENT. SUPPORTING FAMILIES IN DIFFICULT TIMES

PET THERAPY €5,400

Having a seriously sick child in hospital is a frightening and overwhelming experience for families. At these difficult times, it is crucial that there are supports in place to help them cope with this huge upheaval in their lives.

Funds raised by our generous donors allow us to support the vital work of Temple Street’s Medical Social Work team, which provides counselling and practical help. These supports include, the hospital’s Samaritan Fund, which provides emergency financial assistance to families and the Long-Term Fund, which helps to ease some of the financial burden from the shoulders of worried parents.

We also fund Temple Street’s invaluable Sibling Camp, which helps the brothers and sisters of our seriously ill patients come to terms and cope with their condition.

At Temple Street, two therapy dogs – Buster and Buttons – visit the hospital regularly to help with physical therapy, easing anxiety and pain management amongst many other things. Coordinated by the Play Therapy Team, this team of unique volunteers bring smiles and joy to our patients and their families.

MULTI-SENSORY EQUIPMENT €3,500 Spending time in hospital can be an unsettling and stressful experience for children. As part of their work, the Play Specialists use multisensory equipment to give our patients an opportunity to relax and unwind. Multi-sensory equipment can include fibre optics, bubble tubes, projectors, wall projections and much more. These tools help our little patients immerse themselves in a wide range of sensory experiences for therapy, learning and fun.

16

17

T E MP LE STREET FOUN DAT I ON A N N UA L R EP O RT & ACCO U N TS 2 01 5

PL A NN IN G FOR THE F UTUR E

FUNDS RAIS E D, LIVE S SAVE D

ACCOU NTS

We are very proud of the Foundation and everything it has achieved for the little patients in the care, and we are committed to building on the tremendous success of 2015. We are conscious that the pressures placed on Temple Street Children’s University Hospital will only grow as patient numbers rise in the years ahead, and we will review and refine our fundraising strategy in 2016 to ensure that we are well-positioned to meet these needs.

Temple Street Foundation has no guaranteed income - we are entirely dependent on the goodwill of the public to carry out our work.

As such, we will continue to track and monitor all of our income streams to ensure that we can continue to raise the money needed to provide world-class services and facilities to patients and fund transformational research.

In the year ahead, we will also continue to build on our established and successful regular giving campaign strategy of building a sustainable revenue stream which will allow us reach our ambitious goals.

We are committed to maintaining the highest standards of corporate governance and believe that this is a key element in ensuring that Temple Street Foundation operates effectively and transparently. The support we receive from the public is dependent on their trust in us. Temple Street Foundation works hard to ensure that we are transparent in all our activities and can clearly demonstrate how donations are spent.

In partnership with the hospital, we prioritise equipment and services that will have the greatest impact on patients’ lives.

“WE WILL CONTINUE TO WORK HARD TO GROW AND RAISE THE FUNDS THAT OUR WONDERFUL HOSPITAL SO URGENTLY NEED.”

18

We have made huge strides towards raising the €5million required to build our new, much-needed, Neurology & Renal Outpatients Unit.

This year, we have made huge strides towards raising the €5million required to build our new Neurology & Renal Outpatients Unit. We hope to complete the fundraising for this ambitious project in the year ahead and begin construction in 2016, to be completed by Quarter 2 2017.

Temple Street Foundation looks forward to building on our busy calendar of events in the year ahead and working closely with our many community fundraisers, who work so hard to develop their own inventive, creative and positive events in support of Temple Street Children’s University Hospital.

We will continue to work hard to grow and raise the funds that our wonderful hospital so urgently need. Every single patient who comes through our doors deserves world-class treatment in the best possible facilities. With the support of loyal and dedicated supporters, we can continue to give our patients the very best care in the months and years to come.

19

T E MP LE STREET FOUN DAT ION ( A comp any l im ited by g u a ra n tee a n d n o t h av in g a s h a re c a p it a l)

DIRECTORS AND OTHER INFORMATION

REPO RTS AND FINANCIAL STAT EM ENTS FO R T HE FINANCIAL Y EAR E NDE D 31 DE CE MBE R 2015

STATEMENT OF FINANCIAL ACTIVITIES FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

DIRECTORS

Mr. D. McCann (Chairman) NOTES

2015 Restricted €

2015 Unrestricted €

2015 Total €

Donations and legacies

4

724,375

3,861,117

4,585,492

Fundraising activities

5

11,465

2,065,816

2,077,281

Investments – interest

6 -

103,075

103,075

735,840

6,030,008

6,765,848

7

-

2,069,802

2,069,802

8 & 19

239,625

1,607,315

1,846,940

10

-

371,736

371,736

239,625

4,048,853

4,288,478

11

496,215

1,981,155

2,477,370

14

-

-

-

496,215

1,981,155

2,477,370

Ms. S. Brady Ms. E. Finnan Mr. C. McAlinden Mr. M. Monaghan

INCOME FROM:

Mr. T. O’Rourke Ms. A. Ryan Mr. V. Sheridan Mr. D. Spring SECRETARY

Ms. A. Neill

REGISTERED OFFICE

50 Fitzwilliam Square, Dublin 2

REGISTERED NUMBER

328920

SOLICITORS Arthur Cox, Earlsfort Centre Earlsfort Terrace Dublin 2 BANKERS

Allied Irish Banks plc 62 St. Brigid’s Road, Dublin 5

Income Total EXPENDITURE ON: Raising funds Charitable activities Other Total Net income Taxation

Bank of Ireland Ballsbridge, Dublin 4

Net movement in funds

AUDITORS Deloitte

Chartered Accountants and Statutory Audit Firm Deloitte & Touche House Earlsfort Terrace, Dublin 2

RECONCILIATION OF FUNDS Total funds brought forward

16

1,426,484

7,453,811

8,880,295

Total funds carried forward

16

1,922,699

9,434,966

11,357,665

BUSINESS ADDRESS Children’s University Hospital Temple Street, Dublin 1 CHARITY NUMBER

20

13534

21

T E MP LE STREET FOUN DAT ION ( A comp any l im ited by g u a ra n tee a n d n o t h av in g a s h a re c a p it a l)

REPO RTS AND FINANCIAL STAT EM ENTS FO R T HE FINANCIAL Y EAR E NDE D 31 DE CE MBE R 2015

STATEMENT OF FINANCIAL ACTIVITIES (CONT’D.)

BALANCE SHEET

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

AS AT 31 DECEMBER 2015

NOTES

2014 Restricted €

2014 Unrestricted €

2014 Total €

Donations and legacies

4

426,910

2,388,032

2,814,942

Fundraising activities

5

43,939

2,680,925

2,724,864

Investments – interest

6

Income Total

Other

Taxation

€

15

786,302

799,661

16

187,959

278,468

11,049,068

8,517,188

11,237,027

8,795,656

(665,664)

(715,022)

NET CURRENT ASSETS

10,571,363

8,080,634

TOTAL NET ASSETS

11,357,665

8,880,295

Tangible assets CURRENT ASSETS

-

123,064

123,064

470,849

5,192,021

5,662,870

Cash at bank and in hand

CREDITORS: (Amounts falling due within one year) 7

-

2,331,158

2,331,158

8 & 19

285,670

2,515,722

2,801,392

10

-

332,700

332,700

285,670

5,179,580

5,465,250

11

185,179

12,441

197,620

14

-

-

-

185,179

12,441

197,620

Total Net income

€

Debtors

EXPENDITURE ON:

Charitable activities

2014

FIXED ASSETS

INCOME FROM:

Raising funds

2015

NOTES

Net movement in funds

RECONCILIATION OF FUNDS Total funds brought forward

16

1,241,305

7,441,370

8,682,675

Total funds carried forward

16

1,426,484

7,453,811

8,880,295

17

FUNDS OF THE CHARITY: Restricted funds

19

1,922,699

1,426,484

Designated funds

19

8,993,125

6,606,941

General funds

19

441,841

846,870

11,357,665

8,880,295

The financial statements were approved and authorised for issue by the Board of Directors on 16th June 2016 and signed on its behalf by David McCann, Director, and Terence O’Rourke, Director.

There are no other recognised gains or losses other than those listed above and the net movement in funds for the financial year. All income and expenditure derives from continuing activities.

22

23

T E MP LE STREET FOUN DAT ION ( A comp any l im ited by g u a ra n tee a n d n o t h av in g a s h a re c a p it a l)

REPO RTS AND FINANCIAL STAT EM ENTS FO R T HE FINANCIAL Y EAR E NDE D 31 DE CE MBE R 2015

CASH FLOW STATEMENT

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

NOTES

2015

2014

€

€

CASHFLOWS FROM CHARITABLE ACTIVITIES Net cash generated from charitable activities

20

2,440,733

Payments to acquire tangible fixed assets NET CASH PROVIDED BY INVESTING ACTIVITIES CHANGE IN CASH AND CASH EQUIVALENTS IN THE REPORTING YEAR

CASH AND CASH EQUIVALENT AT THE BEGINNING OF THE REPORTING YEAR CASH AND CASH EQUIVALENT AT THE END OF THE REPORTING YEAR

Basis of Preparation

103,075

123,064

(11,928)

(2,893)

91,147

120,171

2,531,880

96,014

8,517,188

8,421,174

11,049,068

8,517,188

11,049,068

8,517,188

RECONCILIATION TO CASH AT BANK AND IN HAND: CASH AND CASH EQUIVALENT AT THE END OF FINANCIAL YEAR

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding year.

(24,157)

CASH PROVIDED BY INVESTING ACTIVITIES Interest received

1. ACCOUNTING P OLICIES

(i) I n accordance with Section 1180(8) of the Companies Act 2014, the company is exempt from including the word “Limited” in its name.

The company is limited by guarantee and has no share capital. (i) I n prior years, company law scoped out companies not trading for gain for the members from the requirements with regard to formats and content of financial statements which applied to for profit companies thus permitting the adoption of a format appropriate to a charity.

The Companies Act 2014 became effective in law on 1 June 2015 and from that date applies the format and content of financial statements requirements appropriate for a company trading for the profit of its members to a company that is a not-for-profit organisation such as Temple Street Foundation. This would require Temple Street Foundation for example, to present a profit and loss account and report on items such as turnover, cost of sales, profit or loss on ordinary activities before taxation, along with related notes. In the view of the directors, this is neither an appropriate presentation nor terminology for a not-for-profit organisation.

In order to provide information relevant to understanding the stewardship of the directors and the performance and financial position of the charity, Temple Street Foundation has prepared its financial statements in accordance with the formats provided for in the Statement of Recommended Practice (SORP 2015) “Accounting and Reporting by Charities” in accordance with the Financial Reporting Standard applicable in the UK (which has been recognised as best practice for financial reporting by charities in Ireland) and Republic of Ireland (FRS 102), issued by the Financial Reporting Council, and promulgated for use in Ireland by the Institute of Chartered Accountants Ireland, effective 1 January 2015 and the Companies Act 2014. No material adjustments

24

were required on adoption of FRS 102 in the current year. For more information see note 24.

Comparative amounts for the prior year have been re-presented where necessary on the same basis as those for the current financial year. The functional currency of Temple Street Foundation is considered to be euro because that is the currency of the primary economic environment in which the company operates.

Going Concern The organisation’s forecasts and projections, taking account of reasonable possible changes in performance, show that the organisation will be able to operate within the level of its current cash and investment resources. The Board have a reasonable expectation that the organisation has adequate resources to continue in operational existence for the foreseeable future.

Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. Accordingly, these financial statements do not include any adjustments to the carrying amount and classification of assets and liabilities that may arise if the company was unable to continue as a going concern.

Incoming Resources – Donations and Legacies Donations and Legacies is represented by donations, gifts and legacies and are included in full when received.

Incoming Resources – Charitable Activities Income from fundraising events organised by the company is accounted for when earned with the exception of fundraising income in respect of future events which is recorded as deferred income until such time as the event takes place.

As with many similar charitable organisations, independent groups from time to time organise fundraising activities and may operate bank accounts in the name of Temple Street Foundation.

However, as amounts collected in this way are outside the control of the Foundation, they are not included in the financial statements until received by the Foundation.

25

T E MP LE STREET FOUN DAT ION ( A comp any l im ited by g u a ra n tee a n d n o t h av in g a s h a re c a p it a l)

REPO RTS AND FINANCIAL STAT EM ENTS FO R T HE FINANCIAL Y EAR E NDE D 31 DE CE MBE R 2015

NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)

NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

Incoming Resources – Investment Investment income is accounting for on a receivable basis.

The annual rates of depreciation are as follows: Buildings – 2% Equipment – 20%

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Expenditure Expenditure is recognised when a liability is incurred. Contractual arrangements are recognised as goods or services are supplied.

Pensions The company make contributions to pension plans selected by relevant employees and administers contributions made by (and on behalf) of employees invested in PRSAs.

In 2015, the salaries of staff involved in charitable activities, fundraising activities, management and administration and governance activities were apportioned across those four expenditure categories on a reasonable, justified and consistent basis. The 2014 comparatives have been restated to accord with the current year’s presentation.

Governance costs are defined as costs related to the general running of the Foundations as an entity as opposed to the direct management functions inherent in generating funds and include audit and accountancy, legal and professional fees.

Funds Accounting The company maintains the following funds: Restricted Funds Restricted funds represent donations, fundraising events income, legacies and other income received, which can only be used for those purposes that have been specified by the donor.

Designated Funds Designated funds represent donations which have been designated by the Project Appraisal Committee and by the Board of Directors for specific purposes.

Unrestricted General Funds Unrestricted funds represent amounts which are expendable at the discretion of the Board of Directors in furtherance of the objectives of the charity.

Foreign Currency Transactions in foreign currency are recorded at the rate ruling at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the Statement of Financial Activities.

Tangible Fixed Assets Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation of fixed assets is provided on cost in equal instalments over the estimated useful lives of the assets.

26

Financial Instruments Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities are classified according to the substance of the contractual arrangements entered into. (i) F inancial assets and liabilities All financial assets and liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the company, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.

In the application of the Company’s accounting policies, which are described in note 1, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

There were no significant judgements and estimates made by the directors for the current financial period.

3. COMPANY STATUS

The company is limited by guarantee and does not have a share capital. Every member of the company undertakes to contribute to the assets of the company in the event of the company wound up while he/ she is a member, or within one year after he/she ceases to be a member, for payment of the debts and liabilities of the company contracted before he/she ceases to be a member, and of the costs, charges and expense of winding up, and for the adjustment of the rights of the contributors among themselves, such amounts as may be required not exceeding €1.27.

4. DONATIONS AND LEGACIES

Donations, corporate donations and regular giving Legacies

Unrestricted €

724,375

3,789,758

4,514,133

2,789,942

-

71,359

71,359

25,000

724,375

3,861,117

4,585,492

2,814,942

Unrestricted €

2015 Total €

2014

Restricted €

11,465

2,065,816

2,077,281

2,724,864

5 . FUNDR AISING ACTIVITIES

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Balances that are classified as payable or receivable within one year on initial recognition are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

Restricted €

2015 Total €

Campaigns, Appeals and Events

2014 €

€

27

T E MP LE STREET FOUN DAT ION ( A comp any l im ited by g u a ra n tee a n d n o t h av in g a s h a re c a p it a l)

REPO RTS AND FINANCIAL STAT EM ENTS FO R T HE FINANCIAL Y EAR E NDE D 31 DE CE MBE R 2015

NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)

NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

6. IN V EST M E N TS

Restricted €

Unrestricted €

2015 Total €

-

103,075

103,075

Deposit interest

2014

123,064

9. ANALYSIS OF SUP P OR T COSTS

2015 €

2014 €

419,401

370,712

20,440

19,060

58,749

59,853

Research

20,440

19,060

Redevelopment and new service development

20,440

19,060

120,069

117,033

539,470

487,745

Unrestricted €

2015 Total €

2014

Restricted €

Administration

-

314,207

314,207

294,707

Governance

-

35,634

35,634

27,373

IT

-

12,563

12,563

10,620

HR

-

9,332

9,332

-

-

371,736

371,736

332,700

€

Fundraising activities (Note 7) 7. E X P E N D I T URE ON RA I SI N G F U N DS

Restricted €

Unrestricted €

2015 Total €

2014

-

918,442

918,442

Medical equipment €

-

731,959

731,959

1,056,706

Support costs (Note 9)

-

419,401

419,401

370,712

-

2,069,802

2,069,802

2,331,158

8. E XP E N D I T URE O N C H A R I TAB L E AC T I VIT IE S

Medical equipment Patient and parental support services

Total

10. OTHER EX P ENDITUR E

Activities undertaken directly

Grant funding of activities

Support costs (Note 9)

Total 2015

Total 2014

€

€

€

€

€

-

1,107,624

20,440

1,128,064

Salary costs - % time spent on activities

903,740

Fundraising activities - campaigns, appeals and events

Activity

Fundraising team - % time spent on activities

Charitable activities:

Patient and parental support services Raising donations, legacies, corporate donations and regular giving

Basis of allocation

1,572,661

101,977

125,343

58,749

286,069

575,940

Research

-

229,977

20,440

250,417

452,145

Redevelopment and new service development

-

161,950

20,440

182,390

200,647

101,977

1,624,894

120,069

1,846,940

2,801,393

€

The Foundation had designated funds of €8,993,125 at 31 December 2015, awaiting disbursement Note 19).

28

29

T E MP LE STREET FOUN DAT ION ( A comp any l im ited by g u a ra n tee a n d n o t h av in g a s h a re c a p it a l)

REPO RTS AND FINANCIAL STAT EM ENTS FO R T HE FINANCIAL Y EAR E NDE D 31 DE CE MBE R 2015

NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)

NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

11. NET I N CO M E

2015 Total €

2014 €

The net income for the financial year is stated after charging/(crediting): Directors’ remuneration

-

-

Auditors’ remuneration

8,000

8,000

25,287

25,087

(103,075)

(123,064)

Depreciation of tangible assets Interest receivable

Auditors’ remuneration disclosure(excluding Value Added Tax):

12. EMP LOY EES AND R EMUNER ATION

The average number of persons employed by the company during the financial year was 16 (2014: 15) and is analysed into the following categories:2015

2014

Management

3

3

Fundraising

8

7

Support

5

5

16

15

€

€

692,740

651,095

73,213

69,972

8,367

8,367

774,320

729,434

2015

2014

1

1

2015

2014

104,000

104,000

Other benefits, including pension costs

6,197

6,197

Employer social security costs

11,180

11,180

The staff costs amounted to:7,000

7,000

Tax advisory

-

-

Social Welfare costs

Other assurance

-

-

Pension costs

2,500

-

Audit

Other non-audit services

Salaries

Employee remuneration exceeding €70,000: > €70,001

13. KEY MANAGEMENT COMP ENSATION

This comprises of benefits paid to the Chief Executive during 2015.

The Chief Executive receives a salary and benefits package Including pension allowance Salary

30

31

T E MP LE STREET FOUN DAT ION ( A comp any l im ited by g u a ra n tee a n d n o t h av in g a s h a re c a p it a l)

REPO RTS AND FINANCIAL STAT EM ENTS FO R T HE FINANCIAL Y EAR E NDE D 31 DE CE MBE R 2015

NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)

NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

14. TAXAT I ON

15 . TANGIBLE ASSETS (CONTINUED)

No corporation tax liability arises for the financial year as the company is exempt from taxation due to its charitable status.

At 1 January 2014 Buildings €

Equipment €

Total €

At 31 December 2015

Charge for financial year At 31 December 2015

18,107

6,980

25,087

126,596

31,364

157,960

Net book value:

11,928

11,928

At 31 December 2014

778,768

20,893

799,661

905,364

64,185

969,549

At 31 December 2013

796,875

24,980

821,855

2015 €

2014 €

122,068

268,236

65,891

10,232

187,959

278,468

2015 €

2014 €

Deferred income

226,400

37,823

Accruals and other creditors

439,264

677,199

665,664

715,022

126,596

31,364

157,960

18,107

7,180

25,287

144,703

38,544

183,247

16. D EBTOR S: AMOUNTS FALLING DUE W ITHIN ONE Y EAR

Other debtors Prepayments

25,641

786,302

At 31 December 2014

778,768

20,893

799,661 17. C R EDITOR S: AMOUNTS FALLING DUE W ITHIN ONE Y EAR

In respect of prior financial year: Buildings

Equipment

Total

€

€

€

905,364

49,364

954,728

-

2,893

2,893

905,364

52,257

957,621

Cost:

32

132,873

-

760,661

At 31 December 2014

24,384

957,621

At 31 December 2015

Additions

108,489

52,257

Net book value:

At 1 January 2014

Total €

905,364

Depreciation: At 1 January 2015

Charge for financial year At 31 December 2014

Cost:

Additions

Equipment €

Depreciation:

15. TA N G I BL E ASS E TS

At 1 January 2015

Buildings €

Included in accruals and other creditors is an amount of €160,227 (2014: €157,201) due to The Children’s University Hospital, Temple Street, Dublin 1, which was paid subsequent to the balance sheet date.

33

T E MP LE STREET FOUN DAT ION ( A comp any l im ited by g u a ra n tee a n d n o t h av in g a s h a re c a p it a l)

REPO RTS AND FINANCIAL STAT EM ENTS FO R T HE FINANCIAL Y EAR E NDE D 31 DE CE MBE R 2015

NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)

NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

18. P EN SI O N CO MMI T ME NTS

19. FUNDS OF THE CHAR ITY (CONTINUED)

The company make contributions to pension plans selected by relevant employees and administers contributions made by (and on behalf) of employees invested in PRSAs. The company made contributions of €8,367 during the year (2014: €8,367). There were no amounts outstanding at the current or previous financial year end.

In respect of prior financial year:

19. FUN DS O F T H E C H AR I T Y

Opening balance 1 January 2014 Restricted Funds €

Designated Funds €

General Funds €

Total €

Net income/(expenditure) for financial year Closing balance 31 December 2015

1,426,484

6,606,941

846,870

8,880,295

496,215

2,386,184

(405,029)

2,477,370

1,922,699

8,993,125

441,841

11,357,665

The organisation’s designated projects are in respect of commitments approved by Board of Directors of the Foundation totalling €8,993,125 for the benefit of Children’s University Hospital, Temple Street, Dublin 1 as at 31 December 2015.

Designated Funds €

General Funds €

Total

1,241,305

4,652,808

2,788,562

8,682,675

185,179

1,954,133

(1,941,692)

197,620

1,426,484

6,606,941

846,870

8,880,295

Net income/(expenditure) for financial year Closing balance 31 December 2014

Opening balance 1 January 2015

Restricted Funds €

€

The organisation has projects and commitments approved by the Board of Directors of the Foundation totalling €8,033,425 for the benefit of the Children’s University Hospital, Temple Street, Dublin 1 at 31 December 2014. Other projects and commitments being brought to the board seeking approval subsequent to financial year end amount to €2.2m.

20. R ECONCILIATION OF NET INCOME TO CASH USED IN CHAR ITABLE ACTI V I TI E S

2015 €

2014 €

2,477,370

197,619

25,287

25,087

(103,075)

(123,064)

90,509

(151,700)

(49,358)

27,901

2,440,733

(24,157)

The designated funds at 31 December 2015 can be analysed as follows: Designated Funds Medical Equipment Patient and Parental support services Research Redevelopment and new service development

€ 1.6M 0.6M 1.4M

NET INCOME FOR THE REPORTING PERIOD (as per the Statement of Financial Activities) Adjustment for: Depreciation Interest received and similar income Decrease/(increase) in debtors

5.4M

* (includes €5m designated for the development of a Neurology & Renal Out-patient unit, which project commenced in late 2015 and disbursements will be made in 2016 in relation to this project).

(Decrease)/increase in creditors NET CASH GENERATED FROM CHARITABLE ACTIVITIES

Restricted funds of €1.9m represent donations, fundraising events income, legacies and other income received, which can only be used for those purposes that have been specified by the donor.

34

35

T E MP LE STREET FOUN DAT ION ( A comp any l im ited by g u a ra n tee a n d n o t h av in g a s h a re c a p it a l)

REPO RTS AND FINANCIAL STAT EM ENTS FO R T HE FINANCIAL Y EAR E NDE D 31 DE CE MBE R 2015

NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)

NOTES TO THE FINANCIAL STATEMENTS (CONT’D.)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015

21. FI N A N C I A L I NST R U ME N TS

23. FINANCIAL RISK MANAGEMENT

Continuity of funding

The carrying values of the company’s financial assets and liabilities are summarised by category below:

Financial assets Measured at undiscounted amounts receivable Debtors (Note 16)

2015 €

2014 €

122,068

268,236

The Foundation has no guaranteed income; if it is to continue its work it is entirely dependent on the goodwill of the public and on the relations it builds with institutions. In order to reduce the risk of significant fluctuations in income the Foundation aims to foster public commitment to the growing needs of Temple Street Children’s University Hospital through positive public relations; and good relations with institutional donors.

All income streams are consistently tracked and monitored to ensure negative trends are identified early and appropriate plans put in place. The Foundation monitors changes in giving trends and adapts its strategy to meet these changes.

Cash Flow Risk

Financial liabilities Measured at undiscounted amounts payable Creditors (Note 17)

665,664

715,022

Temple Street Foundation hold a number of bank accounts deposited in a number of different financial institutions ensuring the security of our funds and also endeavouring to maximise the return available.

The organisations’ activities expose it primarily to the financial risks of changes in interest rates. Interest bearing assets are held at fixed rates to ensure better certainty of cash flows.

22. R E L AT ED PA R T Y T R A N SAC T I O NS

Temple Street Foundation (TSF), which is based at Temple Street, is Temple Street Children’s University Hospital’s (CUH) dedicated fundraising arm. The hospital is the beneficiary of all its fundraising activities.

Each year clinical, nursing, support services and research teams in CUH apply to TSF for funding for a wide range of projects from medical equipment purchases and redevelopment of wards to support services for patients and their families.

These projects allow the hospital to advance the treatment and service provided for the children in its care.

TSF is governed by a Board of Directors, chaired by David McCann. Ms. S. Brady is a non-executive director for both CUH and TSF.

24. EXPLANATION OF TRANSITION TO FRS 102

This is the first year the company has presented its financial statements under Financial Reporting Standards 102 (FRS 102) issued by the Financial Reporting Council. The last financial statements under previous Irish GAAP were for the year ended 31 December 2014 and the date of transition to FRS 102 was therefore 1 January 2014. As a consequence of adopting FRS 102, a number of accounting policies have been changed to comply with that standard. None of these changes have resulted in an adjustment to equity reported under previous Irish GAAP at 31 December 2014 or 1 January 2014 and there was no effect on net income previously reported for the year ended 31 December 2014.

During the financial year, TSF disbursed €1,846,940 (2014: €2,725,000) of which €250,417 (2014: €425,000) related to research and €1,596,523 (2014: €2,300,000) was in respect of patient services, redevelopment projects and equipment purchases.

At 31 December, 2015 the company owed €160,227 (2014: €157,201) to CUH. This was paid subsequent to the balance sheet date.

36

37

T E MP LE STREET FOUN DAT ION ( A comp any l im ited by g u a ra n tee a n d n o t h av in g a s h a re c a p it a l)

NOTES

38

T E MP LE STREET FOU N DAT I ON A N N UA L R EP O RT & ACCO U N TS 2 01 5

T EMPLE STREET CH I L D R EN ’S UN IV ER SIT Y HOS P I TA L , DU B L I N 1 T EL : 01 878 4 34 4 E MAIL: INFO@TEMPL EST R EET.I E T EMPLESTREET. IE @T EMP LE_STREE T T E MP LE STREET C HIL D R EN ’S UN IV ER SIT Y H OS P I TA L 40

C H Y 13534