Weldmar
Hospicecare
Weldmar Hospicecare Limited
(A Company limited by guarantee and not having a share capital)
Company Registration No. 2520727 (England and Wales)
Charity Registration No. 1000414
Consolidated financial statements
For the year ended 31 March 2024

Weldmar Hospicecare Limited
INDEX
Logal and admlnlstratlve Inforniatlon
Report of the Trustees (Includlng Strateglc Report)
3-14
Report of the Independent auditors
15-18
Consolldated Statement of flnanclal a¢tlvlties
19
Consolldated and Charity balanco 8hoets
20
Con8olldated cash flow statamant
21
Notes formlng part of the con8olldated flnanclal statementg
22-42

Weldmar Hospicecare Llmlted
Lagal and administrative infomiation for the year ended 31 March 2024
Patron
His Majesty King Charles the Third
President
The Hon Mrs C Townsh8nd DL
Vlce Presidents
The Lord Fellowes of West Stafford DL
Mr J Gibson Fleming DL
DrGGuyMBBS
Mrs J Mains
Mrs C J Nickinson
Mrs D Sale RGN RCNT
Trustees
Mr S Baynard (Chair)
Mr J Lambert (Vice Chair)(Reslgned 25 July 2024)
Mrs D Smith (Vice Chair)
Mr M Addison (Appointed 15th September 2023)
Dr J De Kretser {Appolnted 15th September 2023)
Viscount FitzHarris
Mr D French
Mrs T Grant
Ms S Hawkett
Ms V Havercroft-Dixon
Mr J Jolcey-cecll
Mr P Lovibond
Mrs D Smith
Chlef Executlve
Caroline Hamblett
Company Secretary
Sarah Harbige
Reglstered and Prln¢lpal Offlce
Weldmar Hosplcecare
Herringston Road
Dorchester
DT1 2SL
Bankers
CAF Bank
25 Kings Hill Avenue
Kings Hill, West Malling
Kent
ME19 4JQ
Barclays Bank plc
10 South Street
Dorchester
DT1 1BT
National Westminster Bank PIC
49 South Street
Dorchester
DT1 1DW
Santander UK plc
100 Ludgate Hill
London
EC4M 7RE

Weldmar Hospicocare Limited
Legal and administrative informatlon for the year ended 31 March 2024
continued
Solicitors
Mogers Drewett
Spring House
East Mill Lane
Sherborne
Dorset
DT9 3DP
Registered Audltors
Saffery LLP
Midland House
2 Poole Road
Bournemouth
BH2 5QY
Investment Managers
Rathbones
8 Finsbury Clrcus
London
EC2M 7AZ

Weldmar Hospicecara Limited
Report of the Trustees for the year ended 31 March 2024
Weldmar HOspi￿Care Limited, known as Weldmar Hospicecare, is a registered incorporated charity.
under charity number 1000414 and company number 2520727 (England and Wales).
The TnAstees. who are also directors for the purposes of company legislation, are pleased to present
their annual Trustees, report together with the consolidated financial statements of Weldmar
Hospicecare and its subsidiaries for the year ending 31 March 2024.
The Trustees confirm that their report and the consolidated financial stat8ments comply with
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) (effective 1 January 2019) - (Charities SORP (FRS 102)). the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the
Companies Act 2006.
Alms. Objectives and Activitles
The objectives of Weldmar Hospicecare are to promote the relief of sickness by such charitable
means as the Trustees shall from time to time think fit, including by:
operating a hosplce
operatlng a home nursing team wlth speclallst services aimed at controlllng pain and other
dlstressing symptoms
offering support and counselling with a view to relievlng the suffering of relatlves or
dependants of any person in need of palliative care
assisting in the teaching or training of palliative care
Weldmar Hospicecare provides a public benefit by delivering personalised advice, care, and support
to people in Dorset who have complex needs at the end of life, supporting both the patient and those
important to them.
The Trustees have referred to the Charity Commisslon's general guidance on publlc benefit when
reviewing our alms and objectives and in planning our future activities, Our servlces are provided free
of charge.
Our services are integrated to cover North, Central and South Dorset. Each area has similar
populations but differing geographies and socioeconomic characteristics. Whilst North Dorset
provides the greatest number of patients. these patients prefer to be looked after in their own homes
or community hospitals.
In support of our charitable aims, we provide the following services.
a community specialist palliative care nursing service
wellbeing services at various locations across Dorset
12 inpatient hospice beds in a hospice in Dorchester (Inpatient Unit)
a hospice care at home service (Weldmar at Home)
medical consultancy for the community, hospice and on-call for local hospitals
social support including child and adult bereavement support, chaplaincy and counselling
services
wide ranging volunteer service5 from befriending to transport
education in specialist palliative care for specialists and generalists
Our teams are integrated to provide a genuinely seamless service based on patients, needs. It also
enhances our capacity to manage increases in demand by providing a stronger service in the
community, reducing the growth in demand for the Inpatient Unit services. The patients who attend
the Inpatient unit are now extremely complex. requiring the medical and nursing expertise only

Weldmar Hospicecare Limited
Report of the Trustees for the year end8d 31 March 2024
available in an inpatient setting. We also care for complex patients in a community setting which might
be their home, a nursing home or a community hospital.
In delivering our services we are also guided by our vision, mission and values as follows:
Our Vision
All people in Oorset living with a terminal illness being able to aC￿sS the palliative care services they
need, where they need it, and when they need it.
Our Mission
To provide the highest quality care for patients living with a life-limiting illness
To offer support to families and others affected by the patient's illness
To be an active and constructive partner in the health and social care community in Dorset
To provide our services free of charge
To provide excellent working conditions and development opportunities for our staff and
volunteers
Our Values
Caring.. W8 care for the people we support, who support us, each other and ourselves.
Integrity.. We act with Integrity by building relationships based on being honest and falr wlth
open communication.
Welcomlng.. We are warm and welcoming to everyone.
Adaptable.. We are always seeking ways to improve and develop as a charity and as
individuals.
Achievements and Performance
Servlce Quallty
As an organisation partially funded by the NHS, Weldmar Hospicecare is obliged to publish a Quality
Account for the year which can be found on our website
Corporate Objectives and Achlevoments
Progress against last year's stated objectives..
Alm
Financlal
Achievomont
1. To continue to invest in long-term income
generation.
1. There was significant investment in the year in
new retail stores and refurbishment of existing
stores.
Operational
1. To implement the new Patient Safety Incident
Response Framework.
1. Patient Safety Incident Response Framework was
successfully implemented in 2023
2. To improve the use of shared technology and
information sharing.
2. We have implemented Airmid, Systmone's
patient-facing app. for patients supported by our
Weldmar Community Nurse Team.

Weldmar Hospicacare Limited
Report of the Trustees for the year ended 31 March 2024
Aim
Achievement
Through the Dorset Care Plan template on
Systmone. Weldmar staff can now contribute
palliative care information to the patient's
personalised care plan which is available to other
healthcare services across Dorset.
We have also been sharing our patient records
with the Dorset Care Record (DCR) for those
health care services that cannot access
Systmone.
3. To extend the Reach of Family Support
Services
3. We have experienced a 60 /0 increase in
attendances to the new Wellbeing Support
Sessions and support available via our Patient and
Family Support Services team.
4. To secure a clinical workforce fit for the future.
4. We have increased the marketing of clinical roles
including running l attending recruitment events.
The shortaga of ragistered nurses n8tion8lly and
in Dorsat has led to ongoing vacancies on our
Inpatient unit.
5. To dellver End of Life and Anticipatory care
training for NHS Dorset
5. ACP trainlng was offered to all care homes In
central, north and west Dorset, supported by the
development of a document toolkit.
Strategic
1. To continue to implement the new strategy for
Weldmar Hospicecare for 2021-25.
In the year we have focused on identifying new
income opportunities and cost-saving options to
eliminate our operating deficit. We have also
progressed our long-lerm property strategy with
the sale of one office property and the pending
sale of anolher.
2. To continue to develop the workforce,
fundraising and retail strategies to underpin
Weldmar Hospicecare's main strategy.
2, We remained a Real Living wage employer and
have reviewed and updated our benefits package.
Complalnts and Other Feedback
There were five complaints during the year (2023: four). None of the complainants felt it necessary to
take the complaint to the Chairman or the Care Quality Commission. These five complaints related to
the Inpatient unit, community and external providers and involved communication issues, care
concerns or staff conduct. All were investigated and replied to, giving full responses to the concerns
raised by the complainants. Service provision is complex by its nature and is provided by a variety of
agencies. Weldmar Hospicecare will continue to develop our skills in helping patients and their
familieslcarers to navigate and understand these relationships and ensure we are as clear as we can
be where our commitments and responsibilities start and end.
Care Quality Commlsslon
Our services are regulated and inspected by the Care Quality Commission (CQC) with whom we are
registered under the Care Standards regulations. While we are independent of the NHS, our clinical
work is guided principally by the Guidelines on Palliative Care issued by the National Institute for
Clinical and Health Excellence (NICE) and the Quality Markers for End of Life Care. We were

Weldmar Hospicecare Limit8d
Report of the Trusteas for the year ended 31 March 2024
inspected by the CQC in March 2016 and our services were rated as outstanding. Since then, we
have had regular engagement and monitoring calls with the CQC and remain rated as outstanding.
Volunteers and Staff
Fundraising throughout the county is supported In many different ways by volunteers and we currently
have 416 registered fundraising volunteers (2023= 400) who contributed 6,250 hours.
Being a volunteer in one of our 23 charity shops can be fun as well as contributing to raising funds for
the care we provide throughout Dorset. We currently have 435 retail volunteers (2023.. 423) who
contributed 65,504 hours {2023'. 63,409 hours).
Befriending and caring, supporting and helping are words that describe our patient care volunteers.
We currently have 107 patient care volunteers (2023: 122) who contributed 7,320 hours (2023.. 5,680
hours).
So. whether it's the extra pair of hands at busy times, the specialist skills they offer, the cost savings
they bring, or their added value that wa just can't measure. all our volunteers have been amazing in
yet another incredible year.
Collectively, we would not be able to deliver the level of service that we do without the contrlbutlon of
all our volunteers.
Our volunteers have access to our Volunteer Fowm where they can put forward suggestlons and
ideas for improving or developing the support and Involvement of the volunteer contributlon. The
Forum met SIX times in the year.
We employ a wide range of staff to deliver care and support to our patients. raise funds, work in our
shops and manage and administer the organisation. At the end of March 2024, there were 261 staff
(2023: 261) broken down as follows..
Number of staff
Full-tlme
equlvalents
74.2
Clinical
Doctors and advanced nurse practltloners
Other patient care and support
Total patient care and support
87
35
130
27.9
106.8
Fundraising
Charity shops
Management and administration of the charity
10.7
62.1
22.8
202.4
92
27
261
Staff have access to an Employee Forum where they can raise issues of concern or ideas about
service development. It met 3 times in the year.

Weldmar Hospicecare Limited
Report of the Trustees for the year ended 31 March 2024
Gender pay gap results
Hourl Rate
Mean
Median
Quartlle
Women
Men
Quartile 1
Quartile 2
Quartile 3
Quartile 4
77.1%
90.0%
95.7%
84.1%
22.9Yo
10.0%
4.3%
15.9%
The median gender gap is negative, indicating that at Weldmar women earn £1.13 for every £1 that
men earn when comparing median hourly pay. Their median hourly pay is 12.7 % higher than men's.
When comparing mean (average) hourly pay, women's mean hourly pay is 17.9°/o lower than men's,
In comparison to the previous year, the median gender pay gap decreased by 11 % and the mean
gender pay gap increased by 7.30/0.
No bonuses were paid in the current or prlor year.
Addresslng the gonder pay gap
The mean gender pay gap result is driven by the combination of several factors. In general terms,
women are overrepresented in all the quartiles. Such proportion is connected to the nature of the
roles present in these quartiles (nurse. healthcare assistant, retail assistant). Although we have
relatively few male employees at any level of the organisation, proportionately more are in senior
roles or medical roles that attract higher pay.
Financlal revlew
Rosults
Weldmar Hospicecare ralsed £10.44m (2023.. £10.36m) and spent £11.54m {2023,. £10.40m) durlng
the year, resulting in an operating deficit of £1.10m (2023.. deficit of £0.04m). The financial
perfonnance was higher than the budget for the year.
Income
The Trustees continue a policy of diversification in income generation to lessen Weldmar
Hospicecare's reliance on any one strand of income. Charity shop income at £4.19m (2023: £4.04m)
was significantly above the target set by the Trustees.
Expenditure
After allocating support costs, which include management and administration costs and property
costs, based on the headcount of the activity being supported, Weldmar Hospicecare's expenditure
was broken down as follows..

Weldmar Hospicecare Limited
Report of the Trust88s for the year ended 31 March 2024
2024
2023
Inpatient unit
Community nursing service
Wellbeing services
Education
Weldmar at Home
Generating Funds:
Fundraising
Shops and trading
32
15
32
16
12
10
26
26
Subsldlary trading
Weldmar Hospicecare Trading Limited generates income from the sale of purchased goods.
predominantly Christmas and greetings cards. Total revenue was down 8 % to £93,000 in the year
(2023: £98,000).
Res•rvas
Current reserves stand at £21.62m (2023: £22,25m) broken down as follows
2024
£m
13.84
2.51
2.78
2.40
0.00
0.09
21,62
2023
£m
13.05
3.05
2.84
3.18
0.03
0.10
22.25
General fund
Capital fund
Revaluation reserve
Designated strategic fund
Restricted funds
Trading Subsidiary funds
Full disclosure of fund movements is made in Note 18 to the financial statements. A description of the
various reserve funds and their accounting treatment Is also provided in note 1.5 to the financial
statements.
General Fund
These are free reseNes to Insulate Weldmar Hospicecare from significant reductions in income from
either the NHS or the general public, including legacies. Their purpose is also to secure the long-term
operation of the service, for future capital expenditure, major refurbishment or service development
not yet specified.
The Trustees aim to hold 6-12 months of operational expenditure in General Funds. At 31 March
2024, general funds equated to 14 months. worth of operational expenditure (2023.. 15 months). The
current level is deemed more than sufficient for anticipated needs and risks in the next 12 months.
Trustees will be reviewing opportunities to utilise the excess funds to support Weldmar Hospicecare's
aims in a sustainable manner.
Deslgnatad Strateglc Fund
This is the amount set aside by Trustees for priming new services and Investing in more opportunities
for generating income to subsidise our patient services. The amount required is constantly under
review.
At 31 March 2024. the designated strategic fund was set aside by Trustees to support the Weldmar
at Home service for a further 3 years from 1 April 2024 to 31 March 2027. In addition, the Trustees
agreed, following the impending sale of Weldmar Hospicecare's office properties, to set aside £0.6m
to facilitate a move of office-based staff to the Inpatient Unit in the next 5 years.

Weldmar Hospicecare Limited
Report of the Trustees for the year ended 31 March 2024
Investments
Weldmar Hospicecare's investments are overseen by the Investment and Property Committee
(comprising Trustees and Forum of Advisers. members), who determine overall asset allocation
beiween cash, property and quoted securities. Detailed asset allocation and performance
management of quoted securities have been delegated to Weldmar Hospicecare's investment
manager, Rathbones. The objective given to the investment managers is that the portfolio should
achieve a balanced return with a defined level of risk (low to medium). and with no more than 30/0
invested in property funds or companies (due to other investments in property). The mandate 15 kept
under constant review.
The value of quoted securities as at 31 March 2024 was £10.14m (2023.. £9.87m). In addition, the
Trustees hold £0.51 m in the Charities Property Fund {2023: £0.54m), a Common Investment Fund
available to all charities in England and Wales that invests directly in UK commercial property.
The investment portfolio produced a combined return of 9.20kn (2023.. .2.2 % ).
Ethical Investment: It is the Trustees. view that no funds should be invested directly in tobacco
stocks because of the proven link belween smoking and death and especially premature death from
canc6r- the focus of our main charitable activity.
Fundraising practices and p8rformance
Weldmar Hospicecare seeks to ralse funds through donatlons, events and sponsored challenges,
lotteries. legacies. and selling donated goods.
In our fundraising activities, we follow the requirements of charity legislation, money laundering and
anti￿OrrUption legislation and the standards promoted by the Fundraising Regulator and the
Chartered Institute of Fundraising.
Weldmar Hospicecare therefore only accepts financial support on the following conditions..
The support Can contribute to the furtherance of Weldmar Hospicecare's charitable aims and
objectives.
The Trustees ar8 satisfied accepting such support will not cause adverse publicity which affects
our standing in the community in which we operate, our ability to raise funds from other
established supporters or which wlll be detrimental to our professional reputation as a servlce
provider.
We will not endorse or approve the services of any company, in particular those associated with Its
work (undertakers, solicitors etc.) whether in return for financial or other support or not.
Weldmar Hospicecare will not accept financial support or enter into partnerships with companies
involved with the commercial exploitation of tobacco because of the proven link5 between tobacco
consumption with cancer.
In addition, Weldmar Hospicecare will not share or sell any of its databases of donors for any reason.
All Weldmar Hospicecare fundraisers, including agency staff acting on our behalf, receive training on
how to identify and protect people in vulnerable circumstances. If we encounter someone showing
signs of distress, confusion or vulnerability, our fundraisers are trained to politely end the conversation
and refusa any donation offered in such circumstances. In the unlikely event of a donation being
taken in such circumstances, we will refund the donation.
Some of our lottery ticket selling and the running of our lottery are conducted on our behalf by a
carefully selected professional agent. We work very closely with the agent to make sure they
represent our work and our organisation to the highest standards. With the exception of our face to
face fundraisers selling lottery tickets and signing up regular donations, none of our fundraisers.
whether employed by us or one of our agencies, are paid commission.

Weldmar Hospicecare Limlted
Report of the Trustees for the year ended 31 March 2024
The number of complaints received in the year regarding fundraising was 4 (2023- 4). All the
complaints were resolved satisfactorily through our in-house procedures and none were escalated to
the Fundraising Regulator.
During the year, and the previous year, there were no instances of failures to comply with our
fundraising standards. Standards are monitored and maintained through mandatory training and the
use of mystery shoppers.
Performanco
Before the start of each financial year, the Trustees agree a target for our fundraising income,
excluding legacies, and associated costs. In 2024 Weldmar Hospicecare's fundraising generated total
income of £1.53m of income (2023.. £1.74m) and incurred costs of £0.53m {2023'. £0.76m). These
results represented a net contribution of £1.OOm (2023: £0.98m) ￿lch was £0.02m (2023.. £0.24m)
above the annual target.
Plans for Future Periods
Strateglc Plan
Our Strategic Plan addresses the challenges we face, alming to..
Develop partnerships to enhance the region's capaclty to provide a fast, coordinated, flexlble
response to patients in their own homes
Consider joint working beyond traditional boundarles and on different business models to
create this capacity
Improv8 mechanisms for obtaining patient and families, feedback
Develop more secure and diversrfied streams of income
Key Objectives for 2024125
Flnancial
To contlnue to explore and develop Income g8neration and cost savlngs opportunltles to
ensure Weldmar Hospicecare is financially sustalnable in the long term.
Operatlonal
To increase and enhance Patlent and Family Feedback
To remodel community services for future NHS commissioning
To implement E Prescribing at our Inpatient unit
Strateglc
To continue to implement th8 new strategy for Weldmar Hospicecare for 2021-25
To continue to develop the workforce. fundraising and retail strategies to underpin Weldmar
Hospicecare's main strategy
10

Weldmar Hospicecare Limited
Report of the Trustees for the year endad 31 March 2024
Structure, Governance and Management
Status
Weldmar Hospicecare was incorporated as a Limited Company by guarantee, on 10 July 1990.
We are registered, with the Charity Commission. under charity number 1000414, and our company
registration number is 2520727.
Governing documont
Weldmar HOSpi￿Care,S governing document is our Memorandum and Articles of Association.
Board structure
The company's governing body is a Board of Trustees whose members are elected by the members
of the company. The Board currently comprises 11 members and there are 9 sub-committees.
The Board meets 6 times a year and in between times delegates responsibility to a Chief Executiv8
(Caroline Hamblett) and the other senior managers. The Board has adopted the Code of Conduct for
Good Governance. It conducted an appraisal measured against the Code's standards in the year.
The list of Trustees who 58rved durlng the year can be found on page 1 of the accounts together with
other legal and administrativ8 Informatlon.
Board commlttee Structure
The board committees are as follows..
Audit
Nominations
Clinical Governance
Integratad Governance
Flnance
Investment and Property
People Services and Educatlon and Development
Incom8 Generatlon
Equality, Diversity and Inclusion
Each is chaired by a Trustee and includes other Trustees, members of the Forum of Advisers. staff
and often experts who volunteer their help on a specific topic but who are not part of the Board.
Board Nomlnatlons Committee and appointment of new Trustaas
The Board Nominations Committee met twice during the last financial year to review the skill mix and
membership of the Board. The focus of the Board Nominations Committee remains the refreshment of
the Board as long-serving Trustees come up for retirement over the next few years. There were two
appointments to the Board and no resignations from the Board in the year. Since the year end, there
has been one resignation from the Board. Appraisal of Board performance continues under the
Chairman.
When new Trustees are appointed, they are invtted to an induction day to brief them on their legal
obligations under charity and company law. fundraising regulations. the Charity Commission guidance
on public benefit, and inform them of the content of the Articles of Association. the committee and
decision-making processes, the strategic plan and recent financial performance of Weldmar
Hospicecare. During the induction day, they meet key employees and other Trustees. Trustees are
encouraged to attend appropriate external training events where these will facilitate the undertaking of
their role. They will also be briefed on a particular area of our work at the commencement of most
board meetings.

Weldmar Hospicecare Limited
Report of the Trustees for the year anded 31 March 2024
Key management personnel
Weldmar Hospicecare considers its key management personnel to comprise the Trustees and the
Directors Group, who are the Chief Executive, the Chief Operating Officer, the Director of Clinical
Services. the Director of Retail. and the Director of Finance and People Services.
The Trustees receive no remuneration.
As a specialist medical charity directly employing highly skilled clinical staff including nurses,
therapists, doctors and consultants to deliver our services, the Trustees are rnindful of the need to
have equally well-qualified and skilled senior managers to carry the responsibility for the day-to-day
operation of Weldmar Hospicecare including the responsibility to raise the funds needed to ensure
continuity of care. The Trustees have carefully considered the remuneration of the senior
management team and are satisfied that th8 remuneration offered is appropriate to the level of
responsibility held and in line with market rates for roles in similar-sized charitable organisations
delivering specialist medical care.
Tradlng Subsldlary
Weldmar Hospicecare has a subsidiary for generating funds: Weldmar Hosplcecare Trading Limited.
The trading activities of the subsidiary included the sale of new goods and agency commission from
the sale of gift-aided goods through the shops. Income from the sale of donated goods is dealt with
through the Charity's accounts.
All taxable profits ar8 paid to Weldmar Hosplcecare under gift aid. A quasl-subsidlary relationship
exists between Weldmar Hospicecare and Weldmar Hospicecare Trading Limited. Although it does
not fulfil the definition of a subsidiary, it is directly controlled by Weldmar Hospicecare and this
relationship gives ris8 to benefits for Weldmar Hospicecare that are in substance no different from
those that would arise if it were a subsidiary.
Rlsk Managemant
There Is an Assurance Framework matchlng the Terms of Reference of Board commlttees, wlth the
Rlsk Register and Strategy, ensuring that each area of activity is scrutinised by a Board Committee.
Each of the Clinical Governance sub-commlttees Is slmilarly mapped against the Cllnlcal Rlsk
Register to ensure com pr8hensiv8 scrutiny.
Weldmar Hospicecare employs independent Internal audltors (TIAA) to examine key areas of rlsk
in a programme of work which should cover the whole organisation every five years. This year they
looked at nutrition, key management financial controls, maintenance management and mystery
shopping at a sample of our retail shops. TIAA indicated that in rnost areas the Board had reasonable
assurance there were robust mechanisms in place to manage risk and operations.
Weldmar Hospicecare has a comprehensive Rlsk Management policy that sets out responsibilities for
risk identification, assessment, recording. reporting and monitoring. New risks are identified at
Directorate level and systematically reviewed by the Risk Appraisal Panel (the Directors, Group)
which meets quarterly to identify the key risks to the organisation. The Board reviews the Register
twice annua51y and the Audit and Risk Management, Integrated Governance and Clinical Governance
committees scrutinise risks and m itigating actions in more detail. Clinical Risks are identified by a
Risk subgroup of the Clinical Governance structure.
The table below identifies the principal risks identified and monitored by the Trustees during the year
based on the processes described above. The Truslees will continue to consider work carried out by
the Directors, Group on the identtfication and management of risk, including in relation to the delivery
of our planned community programs.
12

Weldmar Hospicecare Limited
Report of the Trustees for the year ended 31 March 2024
Risk
The inability to recruit, sufficient, suitably
qualified and experienced staff. results in
Weldmar Hospicecare not being able to deliver
its services.
ations
Increasing the number of channels we use to
recruit staff.
Implementing new retention strategies.
Providing apprenticeships and other training to
upskill staff.
Reviewing how services are delivered to
maximise the use of hi
hl skilled staff.
New sources of income are conlinually being
evaluated and implemented where appropriate.
Expenditure on targeted Marketing is being
increased.
The cost of providing our services is continually
reviewed.
In the short term, deficit budgets will be set to
ensure the impact is mitigated.
New sources of income are continually being
evaluated and implemented where appropriate.
Expenditure on targeted marketing is being
increased.
The cost of provldlng our services is continually
reviewed,
The operatlon of Weldmar at Home is carefully
reviewed and rnonitored.
The service is actively marketed.
New sources of fundin
are bein
The failure to generate sufficient funds means
Weldmar Hospicecare cannot deliver its
services.
External economic pressures, including the cost
of living crisis and the potential UK recession,
impact on resources available and recruitment
and retention of staff.
The Weldmar at Home servlce may fail to
generate funds, staff, or community support.
sou
ht.
Going Concorn
The Trustees consider that there are no material uncertainties 8bout Weldmar Hospicecare's ability to
continue as a going concern. In forming their opinion, the Trustees reviewed the forecast
performance of Weldmar Hospicecare prepared by management for the foreseeable future. In dolng
this they have considered the potential impacts of reasonably possible scenarios including the Impact
of reductlons In fundraising and retail income, Increases In costs caused by the ongolng war In
Ukraine and the cost of living crisis, and the uncertalnty around the timing of cashflows on legacy
income. The Truslees have concluded that Weldmar H05picecare has resilience in its liquid
resources to manage the impact of these risks and uncertainties.
13

Weldmar Hospicecare Limlted
Report of th8 Trustees for the year ended 31 March 2024
Statement of Trustees, Responsibilities
The Trustees (who are also directors of Weldmar HOspi￿Care for the purposes of company law) are
responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give
a true and fair view of the state of affairs of the charitable company and of the incoming resources
and application of resources, including the income and expenditure, of the charitable group for that
period.
In preparing these financial statements. the Trustees are required to:
select suitable accounting policies and then apply them consistently,.
observe the methods and principles in the Charities SORP.
make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards have been followed, subject to any
material departures disclosed and explained in the financial statements-,
prepare th8 financial statements on the going concern basis unless it is inappropriate to
presume that Weldmar Hospicecare will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charitable company and group and enable them to
ensure that the financial statements comply with the Companies Act 2006. They are also responsible
for safeguarding the assets of the charitable company and group and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial
information included on the charitable company's website. Legislation in the United Kingdom
governing the preparation and dissemination of financial statements may differ from legislation In
other jurisdiction8.
Statemont a8 to dlsclosure to our audltor8
So far as each of the Trustees, at the time of approving thls report, are aware.,
there is no relevant audit information of which the auditors are unaware, and
they have taken all steps they ought to have taken to make themselves aware of any relevant
audit information and to establish that the auditors are aware of that information.
Auditors
Saffery LLP are willing to remain in office as auditors to Weldmar Hospicecare and in accordance with
section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at
the Annual General Meeting.
Approved by the Trustees and signed on their behalf by..
Mr Stephen Baynard - Chair
26 September 2024
14

Weldmar Hospicecare Llmited
Independent auditors, raport to the members of Weldmar Hospicecar8 Limited
Oplnion
We have audited the financial statements of Weldmar Hospicecare Limited (the 'parent charitable
companW) and its subsidiary (the 'group') for the year ended 31 March 2024 which comprise
Consolidated Statement of Financial Activities, the Consolidated and Charity balance sheets, the
Consolidated Cash Flow Statement and notes to the financial statements. including significant
accounting policies. The financial reporting framework that has been applied in their preparation is
applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard
102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of th8 State of the affairs of the group and the parent charitable
company as at 31 March 2024 and of the group's incoming resources and application of
resources, including its income and expenditure, for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice. and
have been prepared in accordance with the requirements of the Companies Act 2006,
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and
applicable law. Our responslbilities under those standards are further described in the Auditors,
responsibilities for the audit of the financial statements section of our report. We are independent of
the group and parent charitable company in accordance with the ethical requirements that are
relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and
we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Concluslons relating to golng concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concern
basis of accounting In the preparation of the financial ststements is appropriate.
Based on the work we have performed, we hsve not Identified any mat8rlal uncertalnties relating to
events or conditions that, individually or collectively, may cast significant doubt on the group or the
parent charitable company's ability to contlnue as a going concern for a period of atleast twelve
months from when the flnancial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are
described in the relevant sections of this report.
Other informatlon
The Trustees are responsible for the other information. The other information Comprises the
information included in the annual report, other than the financial statements and our auditors. report
thereon. Our opinion on the financial statements does not cover the other information and. except to
the extent otherwise explicitly stated in our report, we do not express any form of assurance
conclusion thereon.
15

Weldmar Hospicecare Limited
Independent auditors, report to the members of Weldmar Hospicecare Limited
Our responsibility is to read the other information and, in doing so. consider whether the other
infonmation is materially inconsistent with the financial statements or our knowledge obtained in the
course of the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether this gives
rise to a material misstatement in the financial statements themselves. If. based on the work we have
performed, we conclude that there is a material misstatement of this other information,. we are
required to report that fact,
We have nothing to report in this regard.
Other mattars prascrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, Annual Report which includes the Directors. Report
and the Strategic Report for the financial year for which the financial statements are
prepared is consistent with the financial statements. and
the Trustees, Annual Report which includes the Directors, Report and the Strategic Report
has been prepared in accordance with applicable legal requirern8nts.
Matt•r8 on whlch we are requlred to report by 6xcoptlon
In the light of the knowledge and understanding of the group and the parent charitable company and
their environment obtained in the course of the audit, we have not Identlfled material misstatements in
the Trustees, Annual Report,
We have nothing to report in respect of the following matters where the Companies Act 2006 require
us to report to you if, in our opinion:
adequate accounting records have not been kept by the parant charitable company, or
returns adequate for our audit have not been received from branches not visited by us., or
the parent charitable company flnanclal statements are not in agreement wlth the accounting
records and returns., or
certain disclosures of trustees, remuneration speclfied by law are not made. or
we have not received all the information and explanations we require for our audSt.
Responslbllltles of trust0•3
As explained more fully in the Statement of Trustees, Responsibilities set out on page 13. the
Trustees (who are also the directors of the parent charitable company for the purposes of company
law) are responsible for the preparation of the financial statements and for being satisfied that they
give a true and fair view, and for such internal control as the Trustees determine is necessary to
enable the preparation of the financial statements that are free from material misstatement. whether
due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group and the
parent charitable company's ability to continue as a going concern, disclosing, as applicable. matters
related to going concern and using the going concern basis of accounting unless the Trustees either
intend to liquidate the group or the parent charitable company or to cease operations or have no
realistic alternative but to do so.

Weldmar Hospicecare Limited
Independent audltors, report to the members of Weldmar Hospicecare Limited
Auditors, r•sponsibilltles for the audlt of the financial statements
We have been appointed as auditors under the Companies Act 2006 and report in accordance with
regulations made under that Act.
Our objectives are to obtain reasonable assurance about whether the group and parent financial
statements as a whole are free from material misstatement, whether due to fraud or error and to issue
an auditors, report that includes our opinion. Reasonable assurance is a high level of assuran￿, but
is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered material
rf. individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design
prO￿dureS in line with our responsibilities, outlined above, to detect material misstatements in
respect of irregularities, including fraud. The specific procedures for this engagement and the extent
to which these are capable of detecting irregularities, including fraud are detailed below.
Identifying and assessing risks related to irregularities:
We assessed the susceptibility of the group and parant charitable company's financial statements to
material misstatement and how fraud might occur, including through discussions with the Trustees,
discussions within our audit team planning meeting, updating our record of internal controls and
ensuring these controls operated as intended. We evaluated possible incentives and opportunlties for
fraudulent manipulation of the financial statements. We identified laws and regulations that are of
signrficance in the context of the group and parent charitable company by discussions wlth Trustees
and updating our understanding of the sector In which the group and parent charltable company
operate.
Laws and regulations of direct significance in the context of the group and parent charitable company
include The Companies Act 2006 and guidance issued by the Charity Commission for England and
Wales.
Further, the group is subject to other laws and regulations where the consequences of non-
compliance could have a material effect on amounts or disclosures in the financial statements,
through significant fines, litigation or restrictions on the group's operations. We identified the most
significant laws and regulations to be those issued by the Care Quality Commission.
Audit response to risks identrfied,.
We considered the extent of compliance with these laws and regulatlons as part of our audit
procedures on the related financial statement items including a review of financial statement
disclosures. We reviewed the parent charitable company's records of breaches of laws and
regulations, minutes of meetings and correspondence with relevant authorities to identify potential
material misstatements arising. We discussed the parent charitable company's policies and
procedures for compliance with laws and regulations with member5 of management responsible for
compliance.
During the planning meeting with the audit team, the engagement partner drew attention to the key
areas which might involve non-compliance with laws and regulations or fraud. We enquired of
management whether they were aware of any instances of nonoompliance with laws and regulations
or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through
management override of controls by testing the appropriateness of journal entries and identrfying any
significant transactions that were unusual or outside the normal course of business. We assessed
whether judgements made in making accounting estimates gave rise to a possible indication of
management bias. At the completion stage of the audit, the engagement partner's review included
ensuring that the team had approached their work with appropriate professional scepticism and thus
the capacity to identify non-compliance with laws and regulations and fraud.
17

Weldmar Hospicecare Limited
Independent auditors, report to the members of Weldmar Hospicecare Llmlted
There are inherent limitations in the audit procedures described above and the further removed non-
compliance with laws and regulations is from the events and transactions reflected in the financial
statements, the less likely we would become aware of it. Also, the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error. as fraud
may involve deliberate concealment by, for example, forgery or intentional misrepresentations. or
through collusion.
A further description of our responsibiliti8s is available on the Financial Reporting Council's website
at: www.frc.or
.uklauditorsres
onsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the parent charitable CoMpan￿S members, as a body, in accordance
with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that
we might state to the parent charitable companls members those matters wa are required to state to
them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not
accept or assume responsibility to Snyone other than the parent charitable company and the parent
charitable company's members as a body, for our audit work, for this report, or for the opinions we
have formed.
S• LLP
Casidhe Baleri (Senior Statutory Auditor)
for and on behalf of Saffery LLP
Chartered Accountants
Statutory Auditors
Midland House
2 Poole Road
Boumemouth
BH2 5QY
Date: 14 October 2024
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
18

Weldmar Hospicecare Limited
Consolidated statement of financial actlvities (incorporating consolidated
income and expenditure account) for the year ended 31 March 2024
Unrestrlcted
funds
Restricted
funds
Total
funds
2024
Total
funds
2023
Notes
£'ooo
£'ooo
£'ooo
£'ooo
In¢ome
Donations and legacies
Charitable activities
Income from other trading
activities
Investment income
Other incoming resources
Total incomo
2,319
23
2.342
2,689
2,932
2,255
2,595
4.843
525
45
7,826
4,843
525
45
10,444
4,776
392
2,618
10,355
Expènditure on
Ralsing funds
Charitable activitles to provide
palliative care
Total expendltura
3,828
3,828
3,498
8,892
2,648
11,540
10.400
Net (expenditure from
operatlonal actlvltles
Net gains l (losses) on
investments
Net (doficit)
Othor rècognlsed galns
(Losses) on revaluation of fixed
assets
Not movemont In fund8
(1.066)
(30)
(1,096)
(45)
475
(591)
475
(621)
637
(682)
(30)
166
591
30
621
Roconclllation of fund8
Funds at 31 March 2023
Funds at 31 March 2024
22,216
21.625
30
22,246
21,62S
23,094
22,246
All of the group's activities are classed a5 continuing. Movements on reserves and all recognised
gains and losses are shown above. The notes on pages 22 to 42 form part of these financial
statements.
19

Weldmar Hospicecar8 Limlted
Balance Sheets as at 31 March 2024
The Group
Tha Charity
Notes
2024
£'ooo
2023
£'ooo
2024
£'ooo
2023
£'ooo
Fixed assets
Tangible assets
Investments
13
14
5,277
11.023
16,300
5.886
5,277
11.023
16,300
5.886
10.785
16.671
16,671
Current assets
Stocks
Debtors
Cash at bank and in hand
20
1,748
24
1,683
4,417
6,124
15
25
1,748
4,360
1.683
4.412
6,102
6.128
Liabllltles".
Creditors,. Amounts falling
due withln one year
16
600
549
678
625
Net current a88et8
5,528
5,575
5,436
5,477
Provislon for Ilabilities and
charges
17
203
203
Total net a88et8
Funds
Unrestricted funds:
General fund
Capital fund
Revaluation reserve
Designated strateglc fund
Restricted funds
Trading subsidiary funds
Total funds
18
18
18
18
18
18
18
13,841
2,510
2,782
2,400
13,049
3,047
2,839
3,183
30
98
22.246
13,841
2,510
2,782
2,400
13,049
3,047
2,839
3,183
30
92
The financial statements were approved by the Trustees on the 26th of September 2024
Signed on their behalf by Stephen Baynard
Company egistration No. 2520727 (England and Wales)
20

Weldmar Hospicecare Limitsd
Consolidated cash flow statement for the year ended 31 March 2024
Notes
2024
£'ooo
2023
£'ooo
Cash flows from operatlng activities:
Net cash (used) I provided by operating activities
Cash flows from Investlng actlvltles:
Dividends, interest and rents from investments
Proceeds from the sale of property, plant and equipment
Purchase of property, plant and equipment
Proceeds from the sale of investments
24
(1.213)
2,395
525
392
642
(248)
1,992
(1,755) (2,820)
1,156
{120)
(299)
2.607
Purchase of investments
Net cash provldad l (used) by investing aGtlviti•s
Change In cash and cash equivalents In the y•ar
Cash and cash equivalents at 31 March 2023
Cash and ¢a8h oqulvalents at 31 March 2024
(57)
4,417
4.360
2,275
2,142
4,417
25
21

Weldmar Hospicecare Llmited
Notes forming part of the consolldated financial statements
For the year ended 31 March 2024
1. Accounting Pollcles
The principal accounting policies adopted. the judgements, and the key sources of estimation
uncertainty in the preparation of the financial statements are as follows..
Basls of preparation
The financial statements have been prepared on a going concern basis and in accordance with
Accounting and reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act
2006.
Weldmar Hospicecare Limited, (the Charity) meets the definition of a public benefit entity under FRS
102. Assets and liabilities are initially recognised at historical cost or transaction value unless
otherwise stated in the relevant accounting policy note(s).
Where applicable, the amounts In these financial statements have been rounded to the nearest
£1,000.
Legal status of the Charity
The Charity is controlled by Its Trustees acting in concert. The Charity is limited by guarantee and as
such does not have a share capital. The members. who are also the Trustees, undertake to contribute
an amount not exceeding £1 in the event of a winding up.
Golng concern
The Trustees consider that there are no material uncertainties about the Charity's ability to continue
as a going concern. In forming their opinion, the Trustees reviewed the forecast performance of the
Charity preparad by management for the foreseeable future. In doing this they have considered the
potential impacts of raasonably possible scenarios including the impact of reductions in fundraising
and retall Income, increases in costs caused by the ongoing war in Ukraine and the cost of living
crisls, and Ihe uncertainty around the timing of cashflows on legacy income. The Trustees have
concluded that the Charity has resilience in its liquid resources to manage the impact of these risks
and uncertainties.
Group financlal statements
The consolidated results include those of a quasi-subsidiary, on a line-by-line basis, where the Charity
directs the financial and operating policies of the quasi-subsidiary with a view to gaining economic
benefit from it. No statement of financial activities is presented for the charity as permitted by section
408 of the Companies Act 2006.
Funds accounting
Funds held by the Charity are..
Unrestricted funds
General fund- these are reserves which can be used in accordance with the charitable objects at the
discretion of the Trustees.
Designated stratggic fund- these are reserves set aside by the Trustees out of the general fund for
specific future purposes or projects.
Capital fund - these are funds set aside by the Trustees based on Charity Commission guidance.
The Charity Commission advises trustees that they should exclude from reserves the va5ue of tangible
fixed assets as spending these funds may adversely impact the charity's ability to deliver its aims.
22

Weldmar Hospicecare Limited
Notes forming part of tha consolidated financial statements
For the year ended 31 March 2024
Restricted fvnds- these are funds that can only be used for particular restricted purposes within the
objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for
particular restricted purposes.
Further explanation of the nature and purpose of each fund is includ8d in the notes to the accounts.
The cost of raising and administering such funds is charged against the specific fund. Investment
income, gains and losses are allocated to the appropriate fund.
Income
Income is recognised when the Charity has an entitlement to the funds, any performance conditions
have been met, it is probable that the income will be received, and the amount can be measured
reliably.
Where income has related expenditure (as with fundraising or contract income), the income and
related expenditure are reported gross in the Statement of Financial Activities.
Donations, grants and gifts are recognised when receivable. If a donation is subject to fulfilling
performance conditions before the Charity is entitled to the funds, the income is deferred and not
recognised until it is probable that those conditions will be fulfilled in the reporting period. Income from
Gift Aid tax reclaims is recognised as Income in the same year as th8 corresponding donation. Any
amounts of Gift Aid not recelved by the year end are accounted for In Income and accrued income In
debtors.
Income from NHS contracts. government and other grants, whether 'capltal' grants or 'revenue'
granls are recognised when the Charity has an entitlement to the funds, any performance conditions
attached to the grants have been met, it is probable that the income will ba received and the amounl
can be measured reliably and is not deferred.
Legacy income is recognised when it is probable that it will be received. Pecuniary legacies are
recognised when probate is granted. Residuary legacies are recognised when probate has been
granted. provided the amount of the legacy can be determined with reasonable accuracy and there
are no unmet conditions for the legacy to be paid.
Residuary legacles that cannot be recognised at probate wlll be recognised once the uncertainty
relaling to them being received has been resolved. If the charity has received notification from
executors of their intention to make an interim distrlbutlon In respect of an unrecognised legacy, the
amount of the dlstributlon will be recognised as income.
Recognition of residuary legacies at any point before the final estate accounts are agreed gives rise to
sorne uncertainty as to the amount that will be finally received. This uncertainty is due to the variation
in amounts realised for assets, in particular properties and investments and to a lesser degree any
inheritance tax and costs of administration payable by the estate.
The Charity applies a discount to the valu8 of the legacies at the point of recognition to reflect this
uncertainty. The discount is calculated annually based on the Charity's experience of the final amount
received vs the amount expected at recognition, for residual legacies completed within the year.
Interest on deposit funds held is included when receivable and the amount can be measured reliably
by the Charity which is normally upon notrfication of the interest paid or payable by the bank.
Dividends are recognised once the dlvidend has been declared and notification has been received of
the dividend due, typically from the Charity's investment manager. Income tax recoverable in relation
to investment income is recognised at the time the investment income 15 receivable.
Sponsorship from events. fundraising and events registration fees are recognised as income when
received to the extent that the Charity is entitled to the income and any performance conditions have
been met. Income received for major challenge events is accounted for in the period in which they
take place.
23

Weldmar Hospicecare Limited
Notes forming part of the consolldated financial statements
For the year ended 31 March 2024
Lottery income is accounted for in respect of those draws that have taken place in the year.
Income received in advance for a future fundraising or challenge event. a future lottery draw. or for a
grant received relating to the following year is deferred until the criteria for income recognition are
met.
Trading income is recognised at the point of sale for both donated and purchased goods. Customers
have the right to return most goods, however. no provision for returns is made as the amounts are
immaterial.
Donated goods and services
Donated services or facilities are recognised when the Charity has control over the item, any
conditions associated with the donated item have been met, the receipt of economic benefit from the
use of the Item Is probable, and that economic benefit can be measured raliably.
Donated professional services and facilities are recognized as income at the estimated value of the
gfft to the Charity when received, bas8d on the amount that the Charity would have been prepared to
pay for these services or facilities had it been required to purchase them, with a corrasponding cost
recognised in the appropriate expenditure heading for the same amount. Donated fixed assets are
similarly recognised as income at th8 value to the Charity with a corresponding amount capitalised in
fixed assets.
Expendlture and Irrecoverabla VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third
party, it is probable that settlement will be required and the amount of the obligation can be measured
reliably. All expenditure is accounted for on an accruals basis under the following headings-
Costs of raising funds comprises fundraising costs incurred in seeking donations, grants and legacies.
investment management fees,. costs of fundraising activities include the costs of goods sold, shop
cosls, commercial trading and their associated support costs. Fundraising costs do not include
the costs of dissem inating information in support of the charitable activities.
Expendlture on charltable activities includes the costs of provldlng specialist palliative care and
support, community services and educational activities undertaken to further the purposes of the
Charity and their associated support costs.
Governance costs are assoclated with the governance arrangernents of the Charity and relate to the
general running of the Charity. These costs include audit, legal advice for Trustees and the costs
associated with meeting constitutional and statutory requirements such as the cost of Trustee
meetings and the preparation of statutory accounts.
Support costs are those costs which enable fundraising and charitable activities to be undertaken.
These costs include finance, human resources, information systems, communication,
property management and legal costs. Where expenditure incurred relates to more than one cost
category it is apportioned basad on staff numbers.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Volunteers
The value of the services provided by volunteers is not incorporated into these financial statements.
Further details of their contribution are provided in the Trustees Report.
24

Weldrnar Hospicecare Limited
Notes forming part of the consolidated financial statements
For the year ended 31 March 2024
1.10 Fixed a88ets
Tangible fixed asset5 Costing £500 or more are capitalised at cost and, other than freehold land
included in freehold property, are depreciated over their estimated useful economic lives on a straight-
line basis as follows-.
Asset category
Freehold property
Leasehold property
Motor vehicles
Fixtures, fittings and equipment
offi￿ equipment
Annual rate
over 50 years
over the shorter of the life of the lease or 50 years
25 % straight line
15 % straight line
20%-330/0 Straight line
No depreciation is provided on freehold land. Impairment reviews are carried out periodically. If an
asset is found to have a carrying value materially higher than its recoverable amount it is written down
accordingly,
Costs associated with the selting up of new shops or major refurbishment of existing shops are
capitalised where they meet the criteria for capitalisation, otherwise, they are expensed in the year
they occur.
1,11
Revaluatlon of tanglble flxod assots
The Charity has adopted the revaluation model to revalue freehold and leasehold property whose fair
value can be measured reliably. The revalualions are formally carried out every five years with
periodic informal reviews to ensure that the carrying amount does not differ materially from that which
would be determined using fair value at the end of the reporting period.
The fair value of land and buildings is determined from market-based evidence by appraisal
that is undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised In the Statement of Financial Activitle8 and added
to reserves in a separate R8valuation reserve.
Th8 Charity owns two mixed-use freehold properties, property held for operatlonal use as charity
shops and property held to earn rentals and for capital appreciation. These properties have been split
on a square foot basis and separated between investment property and property held for operational
use as a tangible fixed asset.
1.12 Intangible assets
In accordance with FRS102, computer software costing £500 or more is classed as an intangible
asset, capitalised at cost and is depreciated over its estimated econornic life on a straight line basis at
1.13
Investmonts
Investments held are either a form of basic financial instruments or investment properties. The former
are initially recognised at their transaction value and subsequently measured at their fair value as at
the balance sheet date using the closing quoted market price. The Statement of Financial Activities
includes the net gains and losses arising on revaluation and disposals throughout the year.
Investment properties are formally revalued every five years with periodic informal reviews, conducted
by the Trustees, to ensure that the carrying amount does not differ materially from that which would
be determined using fair value at the end of the reporting period. No depreciation is provided in
respect of freehold investment properties.
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains
25

Weldmar Hospicacare Limlted
Notes forming part of the consolidated financial statements
For the year ended 31 March 2024
and losses on financial investments are calculated as the difference between sales proceeds and
their opening carrying value or their purchase value rf acquired after the first day of the financial year.
Unrealised gains and losses are calculated as the difference between the fair value at the year end
and their carrying value. Realised and unrealised investment gains and losses are combined in the
Statement of Financial Activities.
The main form of financial risk faced by the Charity is that of volatility in equity markets and
investment markets due to wider economic conditions, the attitude of investors to investment risk.
and changes in sentiment concerning equities within particular sectors or sub-sectors.
1.14 Stock
Stock of retail goods is valued at the low8r of cost and net realisable value. Donated items of stock
for resale or distribution are not Included in the financial statements until they are sold or distributed.
The Trustees consider it impractical to be able to assess the number of donated stocks as there are
no systems in place which record these items until they are sold. Undertaking a stocktake would incur
undue cost which outweighs the benefits.
1.15 Debtors
Trade and other debtors are recognised at the settlement amount due after any tr8de dlscount
offered. Prepayments are valued at the amount prepaid net of any trade dlscounts due. Accrued
Income and tax recoverable are included at the best estimate of the amounts recelvable at the
balance sheet date.
1.16 Cash at bank and In hand
Cash at bank and cash in hand includes cash and short-term hlghly Ilquld Investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or
slmilar account.
1.17 Crodltors
Credltors are recognised where the Charity has a present obligation resulting from a past event that
will probably result in the transfer of funds to a third party and the amount due to settle the obligation
can be measured or estimated reliably. Creditor8 are normally recognised at their settlement amount
after allowing for any trade discounts due.
1.18 Flnanclal Instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value.
1.19 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the charity to the fund in raspect of the year.
The Charity also operates a defined benefit pension scheme. The scheme is a multi-employer
scheme where it is not possible. in the normal course of events, to identify on a conslstent and
reasonable basis, the share of underlying assets and liabilities belonging to individual participating
employers. Therefore, as required by FRS102 chapter 28 'Retirement benefits,, the charity accounts
for this scheme as if it were a defined contribution scheme. The amount charged to the Statement of
Financial Activity represents contributions payable to the scheme in respect of the accounting period.
Further details on contributlons are provided in note 22 of these financial statements.
26

Weldmar Hospicecare Llmited
Notes forming part of the consolidated flnancial statements
For the year ended 31 March 2024
1.20 Temilnation benefits
Termination benefits are measured at the best estimate of the expenditure required to settle the
obligation at the balance sheet date. If the expected settlement date of the termination payments is 12
months or more after making the provision and the effect would be malerial, the obligation is
discounted to its present value calculated using an appropriate discounl rate.
1.21
Dllapldatlon provlslons
Leasehold dilapidations relate to the estimated cost of returning a leasehold property to the state
required by the lease andlor meeting any redecoration obligations at the end of the lease, in
accordance with the lease terms. The cost is recognised as a repair cost over the remaining term of
the lease. The main uncertainty relates to estimating the cost that will be incurred at the end of the
lease. Provisions for dilapidations are estimated based on gross internal area.
1.22 Operatlng18ases
Rentals applicable to operating leases are charged to the Statement of Financial Activities in the
period in which the cost is Incurred.
1.23 Taxation
The Charity is consldered to pass the tests set out In Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable Company for UK corporatlon tax purposes.
Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporalion Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable purposes.
1.24 Accounting 88tlmates and Judgèments
In preparing the financial statements, the Trustees are required to maka estlmates and judgements.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised In the period in which the estlmate is revised where the revlslon
affects only that period. or in the perlod of the revision and future perlods where the revision affects
both current and future periods,
The matter below is considered to be the most important in understanding the judgements
made and the uncertainties that Gould impact the amounts reported in the financial statements.
Residual legacy income
Residual legacy income requires judgement about the probability of receipt which affects the timing
of income recognition. A discounting factor based on our experience of the likelihood of receipt of
income is applied to the expected value of the legacy. This factor will be reviewed each year based on
updated experience.
The Charity applies a discounting factor of 300/0 to residual legacies that meet the criteria for
recognition. As at 31 March 2024, the amount accrued for legacy income was £457,000.
The realisation of a number of our legacies is dependent on the sale of properties and investments,
and the amount and timing of these sales are uncertain. This uncertainty is accounted for in the
discount applied to residual legacies.
27

Weldmar Hospic8car8 Llmited
Notes forming part of the consolldated financial statements
For the year ended 31 March 2024
2. Donations and legacies
Unrestricted
General Funds
£'ooo
Restricted
Funds
£'ooo
Group
Total
£'ooo
2023
£'ooo
Donations and gifts
Friends donation8
Legacies
943
23
966
1,080
1.375
2.319
23
In 2023, of the total income from donations and legacies, £2,800,000 was to unrestricted funds and
£132,000 to restricted funds.
3. Incomo from charitabl8 actlvltles
Unrestrlcted
General Funds
£'ooo
R•strlct•d
Funds
£'ooo
Group
Total
£'ooo
2023
£'ooo
CCG service contract and
other contracts
Government Grants
Education and courses
Catering receipts
2,595
2,598
2,162
39
23
31
65
26
94
65
26
In 2023, of the total income from charrtable actlvities, £57,000 was to unrestrlcted funds and
£2,198,000 to restricted funds.
4. Income from other tradlng actlvitios
Unrestrlcted
General Funds
£'ooo
Rastrlcted
Funds
£'ooo
GTOUP
Total
£'ooo
2023
£'ooo
Fundraising income
Lottery
Charity shops
Sale of goods
368
195
4.187
93
4,843
368
195
4,187
93
452
204
4.036
84
In 2023, of the total income from other trading activities, £4,776,000 was to unrestricted funds and £nil
to restrlcted funds.
28

Weldmar Hospicacara Limited
Notes fonning part of the consolidated financlal statements
For the year ended 31 March 2024
5. Nèt incomè from trading actlvltles of subsldlary
The Charity had a subsidiary for the purpose of generating funds: Weldmar Hospicecare Trading
Limited.
The trading activities of the subsidiary included the sale of new goods and agency commission from
the sale of gift-aided goods through the shops. Income from the sale of donated goods is dealt with
through the Charity's accounts.
All taxable profits are paid to the Charity under gift aid.
Relevant financial information regarding Weldmar Hospicecare Trading Limited for both the financial
years ended 31 March 2024 and 2023 is as follows..
2024
£'ooo
2023
£'ooo
Tumover
Cost of sales
Gross proflt
Administrative expenses
Net proflt before taxatlon
Taxation
Not proflt after taxatlon
93
35
58
98
35
63
56
61
56
61
6. Investment income and Intern8t
Group
2024
£'ooo
2023
£'ooo
Deposit interest
Dividends and treasury stock
Property rental
193
295
37
525
74
280
38
392
Amounts included under property rental were all receivable in the current year under operating leases
of greater than two years duration. The minimum future rental receipts are £33,000 (2023.. £27,000).
29

Weldmar Hospicecare Limited
Notes forming part of the consolidatsd financial statements
For the year ended 31 March 2024
7. Net income from operatlonal actlvltles
This is stated after chargingl (crediting):
Group
2024
£'ooo
2023
£'ooo
Depreciation of tangible assets
(Profit) I loss on disposal of fixed assets
Operating lease rentals
Fees payable to the Charity's auditors for:
audit of the Charity's and subsidiary's financial 8tateTnents
tax advisory services
260
(45)
470
243
474
15
19
8. Analy818 of total resources exponded
Staff Costs
Direct
Costs
£'ooo
Support
Costs
£'ooo
Group
Total
£'ooo
£'ooo
Cost of generating fund8
Fundraising activitles
Costs of fundraising actlvities
Costs of running charity shops
Total cost of fundraising activities
333
1,710
286
1,165
182
86
268
801
Costs of managing investments
Total c08t of gen•ratlng funds
66
66
268
Dlrect Charltablo Expendituro
Inpatient unit
Community nurslng service
Patient and family support servlces
Education department
Weldmar at home service
Actlvltles to provida palliativo car•
2,405
1,321
442
60
897
521
31
43
951
365
217
14
365
3,877
1,717
702
74
1,342
80
675
Total resources expendad
7,168
2,192
11,540
30

Weldmar Hospicecare Limitsd
Notes forming part of the consolidated financial statements
For the year ended 31 March 2024
Comparativé figures for the prior year (Restated)
Staff Costs
Dlrect
Costs
£'ooo
Support
Costs
£'ooo
Group
Total
£'ooo
£'ooo
Cost of generating funds
Fundraising activities
Costs of fundraising activities
Costs of running charity shops
Total cost of fundraising activities
309
1.628
1,937
324
936
144
89
233
777
2,653
Costs of managing investments
Total cost of generating funds
68
68
233
Dlrect Charitable Expenditur•
Inpatient unit
Community nursing service
Patient and family support servlces
Education department
Weldmar at home service
Activltle8 to provide palllatlve care
2,230
1,333
363
102
630
4,658
408
38
30
832
357
211
26
278
3,470
1,728
604
129
971
63
540
Total resources expended
6,595
In 2023, of the total resources expended, £8,100,000 was from unrestricted funds and £2,300,000
from restricted funds.
In 2022-23 Wellbeing servic88 were transformed into Patient and family support services. Following
this transformation, the allocation of costs to palliative care activities was reviewed in 2023-24 and a
more appropriate allocation was agreed. This new allocation has baen applied to 2022-23 costs and,
although thls has not changed the overall cost, It has changed the allocation of dlrect and support
costs in the tabl8 above,
The actlvltlgs undorlying the actlvitios above, undor each headlng, are:
Fundraising activities - promoting awareness of the Charity and its work, organising events, running
charity shops and investing in products to create the income flow needed to support our activities.
Managing investments - brokers, fees for managing the investment portfolio and costs associated
with maintaining two freehold investment properties.
Inpatient unit- providing a 12-bed inpatient hospice in Dorchester.
Community nursing service- providing a specialist palliative care nursing service for adults in North.
South, and West Dorset.
Wellbeing services - providing social respite care places at the inpatiant unit In Dorchester. Trimar
House Weymouth, Bridport Community Hospital, and Blandford Community Hospltal.
Education - providing education In specialist palliative care to our staff and for generalists throughout
the health economy.
Weldmar at home- A service introduced in July 2021 to provide hospice care at home in North,
South, and West Dorset.
31

Weldmar Hospicecare Limited
Notes forming part of the consolidated financial statements
For the year ended 31 March 2024
9. Analysis of support costs
Management and
admlnlstration
£'ooo
Property
costs
Governance
osts
Group
Total
£'ooo
£'ooo
£'ooo
Inpatient Unit
Community nursing service
Patient and family support
services
Education
Weldmar at Home
Fundraising
Shops
830
319
115
951
365
190
26
217
14
12
319
15g
44
22
365
182
86
2,180
78
253
20
Comparatlve flguros for the prior yoar (Restated)
Management and
admlnlstratlon
£'ooo
Property
cost8
Governance
costs
Group
Total
£'ooo
£'ooo
£'ooo
Inpatient Unit
Community nursing service
Patient and family support
services
Education
Weldmar at Home
Fundraising
Shops
731
314
89
38
12
832
357
185
23
244
126
23
211
26
278
144
89
30
199
26
Management and administration costs are the support costs which enable fundraising and charitable
activities to be carried out. Property costs are the costs which enable the buildings from which the
Charity operates to function effectively.
Support costs are allocated based on staff numbers. Included in management and administration
expenses are staff costs of £1,213.000 (2023.. £1,061,000). Governance and professional support for
Trustees represent the costs of complying with statutory requirements, strategic planning and
providing legal and other support to Trustees.
In 2022-23 Wellbeing services were transfomied into Patient and family support services. Following
this transformation, the allocation of costs to palliative care activities was reviewed in 2023-24 and a
more appropriate allocation was agreed. This new allocation has been applied to 2022-23 costs and,
although this has not changed the overall cost, it has changed the allocation of direct and support
costs in the table above.
32

Weldmar Hospicecare Limited
Notes forming part of the consolidated financial statements
For the year ended 31 March 2024
10. Indemnity insurance
The Charity pays insurance premiums to indemnify Trustees and senior staff from any loss arising
from their duties. These costs amounted to £2,848 {2023.' £1,896).
11. Staff costs and emoluments
Group
2024
£'ooo
2023
£'ooo
Wages and salaries
Social security costs
Pension costs
7,124
627
581
8,332
6,487
584
527
7.598
The total amount Df terminatlon payments in the year, Included in wages and salari8s, was £25,000
(2023: £26,000). All terminatlon payments were pald In the year.
The average number of staff employed by the Group during the year was as follows:
Group
2024
Number
2023
Number
Inpatient unit
Community nursing service
Patient and family support services
Education
Weldmar at Home servlce
Fundralsing
Charity shops
Management and administration of the charity
68
29
12
63
27
16
25
13
87
26
261
21
11
84
25
249
Emoluments of employees earning over £60,000 per annum, including employer national insurance
contributions but excluding employer pension contributions and, in 2023 only, including termination
payments, fell within the following ranges..
Group
2024
Number
2023
Number
£70,001- £80.000
£80,001- £90,000
£90,001- £100,000
£100.001 - £110,000
£110,001 - £120,000
£120,001 - £130,000
£130,001 - £140,000
£140,001 - £150,000
33

Weldmar Hospicacare Limited
Notes forming part of th8 consolidated financial statements
For the year ended 31 March 2024
Contributions of £26.000 (2023.. £24.000) were made to the NHS Pension Scheme, a defined benefit
scheme for 2 higher-paid employees (2023= 2}. Contributions aTnounting to £62,000 (2023.. £51,000)
were made to a defined contribution pension scheme for 5 higher paid employees {2023: 5).
The Charity consid8rs its key management personnel to comprise the Trustees and the Directors
Group (senior management team), who are the Chief Executive, the Chief Operating Office, the
Director of Clinical Services, the Director of Retail. and the Director of Finance and People Services.
The separate role of Director of People Services, introduced in the prior year, was made redundant in
the year. The duties of the role were combined with those of the Director of Finance.
The total remuneration, including employer national insurance contributions, employer pension
contributions and termination payments of the senior management team was £703.000 (2023:
£573,000). The total remuneration figure includes £106,000 (2023.. £26.000) in respect of the Director
of People Services role that was made redundant.
12. Trustee8' remuneration and axponses
The Trustees received no remuneration in either year. The Trustees received no reimbursement of
travel costs for attending meetings (2023: £Nil). During the year Trustees waivad no expenses {2023:
£NII).
13. Flxed assets
Group and Charlty
Fixturos,
Freehold Laas•hold
Motor Flttlngs &
Offlce
Property
Proporty Vehicles Equlpment Equlprnent
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
Total
£'ooo
Cost or valuatlon
At 1 Aprll 2023
Additions
Disposals
At 31 March 2024
4,539
697
144
1,482
229
338
1,373
234
19
18
235
7,096
248
980
610
14
130
D•preclatlon
At 1 April 2023
Charge for the year
On disposals
At 31 March 2024
121
61
24
158
135
770
161
327
604
183
30
18
195
1,210
260
383
14
128
N•t Book Value
At 31 March 2024
3,771
769
5,277
At 31 March 2023
4,418
712
51
5,886
The freehold and leasehold properties, comprising the inpatient unit In Dorchester. Hammick House a
leasehold property in Dorchester, Trimar House a freehold property in Weymouth and a freehold
property in St Thomas Street, Weymouth, were valued in March 2021 by an independent firm of
Dorchester chartered surveyors, Symonds & Sampson.
34

Weldmar Hospicecare Llmited
Notes fonnlng part of the consolidated flnancial statements
For the year ended 31 March 2024
Contracts were exchanged for the sale of Trimar House during the year and the sal8 has been
completed since the year end. Hammick House has continued to be available for sale during the year
and the Trustees previously revalued the properly based on the expected realisable value from an
accepted offer. Since the year end the sale of Hammick House has been completed,
The inpatient unit was valued on a depreciated replacement cost basis, due to its specialised nature
as a purpose-built hospice facility. The other properties were valued on an open-market basis.
The property in St Thomas Street, Weymouth is a mixed-use property. the operational element is
recognised as a tangible fixed asset., the remaining element is recognised as an investment property
in Note 14.
Hlstorlcal cost Information at 31 March 2024
Historlcal
Net Book Value
£'ooo
Cost
£'ooo
Depreclation
£'ooo
Freehold Property
Leasehold Property
3,366
884
2,180
386
1,186
498
14. Invastments
Group and Charity
Fraehold
Charltl88
Inv8Stment
Llsted Property
Propgrtle8 Sacurltl88
Fund
£'ooo
£'ooo
£'ooo
2024
Total
£'ooo
2023
Total
£'ooo
Market value at 1 Aprll
Additions at cost
Disposals at carrylng value
Unrealised net gains Dn revaluation
Market valuo at 31 March
366
9,874
1,751
(1,872)
385
545 10,785
11,208
1,755
2,820
(1,872) (2,624)
30
355
619
515 11023
370
Historical cost at 31 March
67
10,138
500 10,705
9,598
The freehold property in St Thomas Street. Weymouth, included in investment properties, was valued
in March 2021 by an independent firm of Dorchester chartered surveyors, Symonds & Sampson. The
Trustees believe the current fair value is not materially different to the formal valuation at March 2024.
15. Dèbtors
Group
Charlty
2023
£'ooo
2024
£'ooo
2023
£'ooo
2024
£'ooo
Trade debtors
Other debtors
Prepayments
Accrued income
31
74
179
1,464
1,748
32
150
200
1,301
29
76
179
1.464
1,748
32
150
200
1.301
1.683
35

Weldmar Hospicecare Limited
Notss forming part of the consolidated financial statements
For the year anded 31 March 2024
The Charity has been notified of legacies with an estimated value of £780,000 (2023.. £780.000)
which have not been recognised as income at 31 March 2024 because the legacies have not yet met
the criteria to be recognised as income.
16. Credltors: Amounts falllng duo within one year
Group
Charity
2023
£'ooo
2024
£'ooo
2023
£'ooo
2024
£'ooo
Trade creditors
Amounts due to subsidiary undertaking
Other Creditors
Taxation and soclal security
Accruals
21
113
20
82
115
220
241
678
111
80
48
223
163
625
117
220
242
600
48
224
164
549
Included in other credltors are the following amounts of deferred Income. Thls income has been
deferred as it was received or receivable in advance of the point at which it can be recognised as
income by the Charity.
Amount8
released In
tha year
£'ooo
Addltlonal
provlslon8
mad•
£'ooo
At31
March
2024
£'ooo
At 1 Aprfl
2023
£'ooo
Charitable activities
Fundraising events
Other
38
(38)
106
106
41
41
109
17. Prov181on for charges and liab511ties
Amounts
released in
the year
£'ooo
Addltlonal
provlslons
made
£'ooo
At31
March
2024
£'ooo
At 1 Aprll
2023
£'ooo
Dilapidations
203
203
Dilapidations relate to properties where there is a legal responsibility to pay for these costs before the
end of the lease period.
36

Weldmar Hospicecare Limited
Notes formlng part of the consolldated financial statements
Forthe year ended 31 March 2024
18. Funds
At
31
March
2024
£'ooo
At
1 Aprll Incoming Outgoing
2023
£'ooo
Galns l Transfers
{Losses)
£'ooo
£'ooo
£'ooo
£'ooo
Restrlcted funds
NHS funding
Government grants
other restricted funds
Total restricted funds
2,595
(2.595)
30
30
23
2.618
53
Unre8trlcted funds
General fund
Capital fund
Revaluation reserve
Designated strategic fund
Trading subsidiaries,
funds
Unr•strlcted funds
13,049
3,047
2,839
3,183
7.993
(561)
(24)
328
(7,862)
24
(33)
(923)
475
186
13,841
2,510
2,782
2,400
(186)
98
93
92
475
Total funds
22,246
475
Description of restricted funds..
1)
NHS fundlng - The Charity has a Servlce Level Agreement wlth NHS Dorset. Under
the terms of the contract, the Charity has agreed to provide specialist palliative care,
both inpatient and day patlent facilities, to the term inally111. It has also contracted to
provide specialist nurse advice in the community, bereavement support, trained
volunteer support and education in palliative care, The Charity also receives NHS
funding under a contract to provide hospice at home services.
2)
The Government Grants Include grants recelved for 16 to 24 year olds the Charity
employed under the Kickstart Scheme. These were non-repayable grants.
3)
Other restricted funds- relates to other donations or legacies over £250 which have
been received to fund a particular part of the Charity's work. The majority of
donations received related to the Charitys new Weldmar at Home service which
started in the year.
Description of unrestricted funds:
4)
General fund - these are reserves which can be used in accordance with the
charitable objects at the discretion of the Trustees.
5)
Capital fund - these are funds set aside by the Trustees based on Charity
Commission guidance. The Charity Commission advises Trustees that they should
exclude from reserves the value of tangible fixed ass8ts as spending these funds may
adversely impact on a charitls ability to deliver its aims.
37

Weldmar Hospicecare Limited
Notes forming part of the consolidated flnancial statements
Forthe year ended 31 March 2024
6)
Revaluation reserve- This reserve represents the remaining surplus on the
revaluation of tangible fixed assets used for the Charity's charitable purposes and is
not available to fund future expenditure.
7)
Designated strategic fund - thes8 are reserves set aside by the Trustees out of the
general fund for specrfic future purposes or projects. At the balance sheet date. the
designated fund is reserved to provide funding for the Charity's hospice at home
service Weldmar at Home which was introduced in July 2021. The Trustees had
previously committed to fund the service from reserves until 31 March 2027 to enable
it to become established and financially self-sustaining. The amount included in this
fund represents the expected cost of providing the service less the expected direct
income. At the year end the amount required to fund the service until 31 March 2027
was re-assessed and £786,000 was released to the general fund.
During the year the Trustees set aside £600.000, from the proceeds of the sale of the
Charity's freehold property in Weymouth, to secure alternative office accommodation
within the next 5 years.
8)
Trading subsidiaries- This fund represents the accumulated surpluses from the
actlvltles of Weldmar Hospicecare Tradlng Limited.
Transfers have been made between the unrestrlcted fund balances to designate the amounts
needed to implement the Strategy and to maintaln the Capital Fund.
Comparatlve flguro8 for the prlor year
At
1 April Incomlng Outgolng
2022
£'ooo
At
31 March
2023
£'ooo
Galn8 1 Transfer8
(Losses)
£'ooo
£'ooo
£'ooo
£'ooo
Restricted funds
NHS funding
Government grants
Other restricted funds
Total restricted funds
2,159
(2,159)
(39)
102
2,300
132
30
30
Unrestricted funds
General fund
Capital fund
Revaluation reserve
Designated strategic fund
Trading subsidiaries,
funds
Unrestrlcted funds
12,669
2.946
3,055
4,331
7,642
(7,184)
(198)
{50)
{631)
(637)
559
299
13.049
3,047
2,839
3,183
(166)
285
(802)
93
23,094
98
8.025
37
56
98
22.216
803
Total funds
23,094
10,355
10,400
803
22,246
38

Weldmar Hospicecare Limited
Notes fonnlng part of the consolldated financial statements
For the year 8nded 31 March 2024
19. Analysls of group net assets between funds
Unrestricted
General Deslgnated Restricted
Funds
Funds
Funds
Total
Funds
2024
£'ooo
Total
Funds
2023
£'ooo
£'ooo
£'ooo
£'ooo
Fund balances are represented by:
Fixed assets
Investments
Net current assets
Total net assets
4,691
9,800
4,734
19,225
586
1,223
591
5,277
11,023
5,325
21,625
5,886
10,785
5,575
22,246
20. Operatlng leasè commitment8
At the balance sheet date, the Charity had the following future minimum lease payments, under non-
cancellable operatlng leases. for each of the following periods.,
Land and bulldings
Other
2024
£'ooo
2023
£'ooo
2024
£'ooo
2023
£'ooo
Operating lease payments due..
Not later than one year
Later than one year and not later than five years
Later than five years
Total payments
399
848
379
401
999
392
47
76
13
21. Capltal cornmitments
At the balance sheet date, the Charity had no capital commitments (2023.. nll).
22. Pension Comrnltments and other Post-rotiroment benefits
The Charity operates both a defined contribution and a defined benefit pension scheme which
require contributions to be made to separately administered funds for tha benefit of employees.
Defined contrlbution pension scheme
The Charity operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the Charity in an independently administered fund. The pension cost charge
represents contributions payable by the charity to the fund and amounted to £316.000 (2023..
£298.000). Contributions totalling £41.000 (2023: £38,000) were payable to the fund at the balance
sheet date and are included in creditors.
39

Weldmar Hospicecare Limited
Notes forming part of the consolidated financial statements
For the year endad 31 March 2024
Defined benefit penslon sch•m•
Employees that have previously been a member of the NHS pension scheme (the Scheme), before
joining the charity. have an option to continue being members of that scheme.
The NHS pension scheme is an unfunded defined benefit scheme that covers NHS employers, GP
practices, and other bodies allowed under the direction of the Secretary of State for England and
Wales. The scheme is not designed to be run in a way that would enable employers to identify their
share of the underlying scheme assets and liabilities. Therefore, the scheme is accounted for as if it
were a defined contribution scheme, with the cost to the Charity of participating in the scheme being
taken as equal to the contributions payable to that scheme for the accounting period.
The Scheme receives contributions from employees and employers to defray the costs of pensions
and other benefits. The pension cost charge represents contributions payable by the charity to the
fund and amounted to £265,000 (2023: £230,000). Contrlbutlons totalllng £35,000 (2023.. £35,000)
were payable to the scheme at the balance sheet date and are included in creditors.
An actuarial valuation of the NHS pension scheme was completed in February 2019 based on the
scherne's position as at 31 March 2016 and the liabilities of the scheme were valued at £278,1
billion.
As the NHS pension scheme Is an unfunded scheme, these liabilities are underwritten by HM
Treasury, which also funds or retains the year on year difference between the contrlbutlon Income
and pension paymenls.
Further information can be found on the NHSPA website,. vmw.nh
ensions
23. Related party transactlons
The Charity had the followlng transactions and amounts due with its subsidiaries that are ellminated in
these consolidated financlal statements.
Sales of goods and
servic68
2024
£'ooo
Amounts due to
related partle8
2024
2023
£'ooo
£'ooo
82
80
2023
£'ooo
Weldmar Hospicecare Trading Limited
The Charity had no other related party transactions during either the current or prior year.
40

Weldmar Hospicecare Limlted
Notes forniing part of the consolidated financial statements
For the year ended 31 March 2024
24. Reconclliation of not •xp8ndlture to net cash flow from oparatlng activities
Group
2024
£'ooo
2023
£'ooo
Net (deficlt) for the yoar (as per tho statement of flnanclal
actlvltles)
AdJustm•nts for:
Depreciation charge for the year
(Profit) I loss on sale of tangible fixed assets
(Gains) I losses on investments
Losses on revaluation of fixed assets
Dividends, interest and rents from investments
Decrease l (increase) in stocks
(Increase) I decrease in debtors
Increase l {decr8ase) in creditors
Net ¢ash (used) I provlded by oporatlng actlvltl
(621)
(848)
260
(45)
(475)
243
637
166
{392)
(5)
2,663
73
(525)
(65)
254
Analy819 of cash and cash equlvalents
Group
2024
£'ooo
4,108
252
2023
£'ooo
4,348
69
Cash In hand
Cash held as part of the investment portlollo
Total cash and cash oqulvalents
41

Weldmar Hosplcacare Limited
Notes forniing part of tho consolidatad flnancial statsments
For the year ended 31 March 2024
26.
Flnanclal performanc• of tha Charity
The consolidated statement of financial activities includes the results of the Charity's subsidiaries.
Weldmar Hospicecare Trading Limited. The summary performance of the Charity alone is as follows:
2024
£'ooo
10,352
61
2023
£'ooo
10.257
56
Income
Gift Aid from subsidiary companies
Total expenditure
Net gains l (losses) on investments
Net (losses) on revaluation of flxed assets
Net {deficit)
Total funds brought forward
Total funds ¢arrlod forward
11,503
475
(10,363)
(637)
166
853
23,001
22,148
615
21,533
Represented by:
Restricted funds
Unrestricted funds
30
21,533
42