Greenwich & Bexley Community Hospice GREENWICH & BEXLEY COMMUNITY HOSPICE LIMITED IA charitable company limited by guarantee} FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Company Number.. 2747475 Registered Charity Number.. 1017406 Greenwich & Bexley Community Hospice CONTENTS Page Reference and administrative detsils Trustees, Report Report of the Auditors 34 Consolidated Statement of Financial Activities 36 Consolidated Balance Sheet 37 Consolidated Cash Flow Statement 38 Notes to the Financial Ststemenls 39 Greenwich & Bexley Community Hospice REFERENCE AND ADMINISTRATIVE DETAILS Directors and Trustees Mrs Ruth Russell Mr Tim Gutteridge Mr David Atterbury Thomas Chair lalso Chair of Quality & Safety Committee to March 2022) Deputy Chair and Chair of Trading Board Treasurer and Chair of Finance Informats'on Goverriance and Infomation Technology Committee Company Secretary and Chair of Lottery Board Mr Gerald Peters Ms Lekshmi Babarujan (resigned 21 July 20211 Mr Simon Di Marino Ms Paula Keats Mrs Estelle Kerridge Ms Kate McGranaghan (appointed 10 November 20211 Ms Rebecca Middleton Mrs Mairead O'Reilly Dr Mary-clare Parker Mrs Manal Saéik (appointed 10 November 20211 Mrs Komal Whittaker-Axon Mr Michael Williams {appointed 10 November 20211 Chair of Investment Committee Chair of Remunerats"on Committee Board Safeguarding Champion Fundraising Link Trtjstee Board Equity, Diversity and Inclusion Champion Chair of Quality and Safety Committee markeb.ng and Communications Link Trustee Membership of Board Comrnittees Quality & Safety Committee Finance. Infomiation Governance and Infomation Technology Committee Investment Committee Remuneration Committee Lottery Board Trading Board (from August 2021) Recovery and Transfomiab"on Programme Board lunb'l November 2021) Non-Trustee Advisors Mr Mike Davis Mr Barry Dow Mr Ivan Izikotwitz Mr Alan Powell Non-Executive Director for GBCH Trading Non-Executive Director for GBCH Trading Non-Executive Director for GBCH Trading Chief Executive Ms Kate Heaps Senior Leadership Team Mr Victor D'Arcy-Smith Mr Jon Devlin Ms Wendy Lelhem Ms Aneta Saunders Mrs Susan Smyth (resigned May 20211 Mr Graham Turner (appointed Sept 20211 Reglstered Manager Ms Ellen Tumelty Registered Office 185 Boslall Hill Abbey Wood London SE2 OGB Banke National Westminster Bank Ltd 1 Townley Road Bexleyhèath Kent DA6 7JG Greenwich & Bexley Community Hospice REFERENCE AND ADMINISTRATIVE DETAILS Auditors Haysrnacintyre LLP 10 Queen Street Place London EC4R 1AG Registered Charity Number 1017406 Company Number 2747475 Greenwich & Bexley Community Hospice TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 The Board of Trustees present their report and the consolidated financial statements of Greenwich & Bexley Community Hospice Limited IGBCHI for the year ended 31 March 2022. The financial statements have been prepared in accordan￿ with the Statement of Recommended Practi for Charities ISORP 20151 (Second Edition, effective 1 January 2019). applicable law and the Charity's governing document STRATEGIC REPORT OBJECTIVES AND ACTIVITIES The Charitys public benefit as set out in the objects clause in its Articles of Association is, for the relief of pain and suffeiyng an70ng the ill, the pmvision, management and maintenanGe of a hospice and associated communty and outreach seryices for people wrfh life-limiting illness and their families and friends, the pmteetion 2nd preservation of the health of those affected by bereavement and the advancem8nt of education of professionals and the public in the relief of paffn and suffering. At Gr*nwich & Bexley Communty Hospice. we believe that every person facing death should have the best quality of life possible. experien￿ dignity, peace and comft)rt and be supported to make the chol￿S that are right for them. Our organisational purpose is to support and care for people facing death and those close to them, their families and professional carers, acting as a system and community leader and connector, supporting others and delivering expert care to achieve our vision. As we strengthen our relationships across the community and health and care system, we will be generous with our skill and expertise to increase the profile of end of life issues and hospice care, improving access and extending reach. Our staff work within our own seNices and in partnership with others to help patients maintain connections with their community and maximise their quality of life. We continue to be creative in our approach to care, reimagining support at home and for families, all the time responding to diverse needs arid the challenges our patients and communities face. We actively listen and respond to everyone who needs our care and at times, this requires us to lobby those in powerto ensure that the necessary resources are available and that we can address barrierslchallenges. We recognise that our people are our greatest asset., we recruit, develop and relain the best people, creating opportunities and an environment for all of our staff so that they can be themselves and perform at their best. Greenwich & Bexley Community Hospice Our Values Carry for and cart •NJ I*•u5vvkasat*am Striving for the best arKI being forward thinking a d￿se organisaL￿n wecan %•th thstJfy*rgty.ackncMAe&Jty ihat i.'n h￿nIrS t+om othws Lvntir•J¢YJ51yiTnmwJ Ve￿11 rnamtain ur aM￿LIc￿ io 1*5LaThJlO i￿51091¥**￿￿ caie.supwrt an from ts)nI#l￿*Tr￿È 8eAltyJf W*rA4yait￿1X)n Lothpynall Ihirw the ffVJFE d1licu￿1hroJS•1K be Public Benefit The Trustees have paid due regard to the guidance provided by the Ch8rity Commission on Publi¢ Benefit. They are assured that the aims and objectives, along with the outcomes of the activities of the Charity have mel the Public Benefit requirerllent and acknowledge the generosity of its supporters who have enabled the public to benefit from the Charity's activities. This Trustees report demonstrates how this was achieved. Greenwich & Bexley Community Hospice TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2022 (continued) OBJECTIVES AND ACTIVITIES Icontinuedl Our Strategy The last year has been fijll of challenges and triumphs,. when we first entered the Coronavirus Pandemic, none of us expected il to last a year, let alone two,. but unfortunately, it has been what has coloured much of our lives in 2021122 as well as the previous year. Across the hospice, colleagues have learned to adapt to ensure that whatever their role they are still able to deliver,. whether that is in our income generation team, in our back offices and support functions or in our frontline clinical seNices. Our multi-professional team has adapted their practise, testing themselves regularly to keep our patients and their colleagues safe,. becoming proficient at communication over video or behind a mask and adapting their knowledge and skills lo respond to fresh challenges to ensure that we maintain the best service we can for everyone who needs our care. This virus has in some way impacted the lives and wellbeing of everyone in society, and al the hospice we have not only had to respond lo greater need in our community, but we've had to take even greater care of one another. Colleagues have themselves been impacted by the virus, many have lost loved ones themselves or been very sick and some impacted by the protracted effects of long COVID. Nonetheless, those who were able have worked tirelessly lo keep shifts covered and patients cared for. Throughout 2021122, we continued to use our Recovery and Transformation Programme {RTPI to set our direction, ensure we maintained opemtions and to develop our hospice. The programme focused on seven priority areas, identified and cry5talli5ed by the COVID-19 experience. 1. Service Transformation 2. Refreshing Voluntèering 3. Staff Wellbeing and Development 4. Equity, Diversity and Inclusion 5. Retsil and Commercial Development 6. Fundraising Development 7. Stakeholder Engagement The programme has helped us during a time of significant uncertainty and change to make progress towards achieving our vision, respond lo opportunities and become more resilient to future threats. Through the RTP, and working with Nesta and Julie Dodd. a digital transformation consultant, we were able to build on what we've learned and begin to pul the last two years behind us with our new strategy, approved by the Board of Trustees in March 2022. Some headlines from engagement conducted by Nesta on behalf of the hospice are outlined below.. People feel overwhelmingly positive about GBCH'S current care and support We osked people to tel us howthey about GBCK'score WPPLYF¢u￿￿￿llYlrorn 1-10. oft heard Irom 239 peop￿.. 4&-, 0.4% 3% 2.3% Ex¢epSonul neg Greenwich & Bexley Community Hospice TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2022 Icontinuedl OBJECTIVES AND ACTIVITIES Icontinugdl Overall opportunities for setvice transformation P¢th•Khlps and to*¢ QiidWiger&yStern1e￿eth s¥oport.. PEO￿￿0$￿* W•al•sta￿tt ErthDNDn951ollor • In¢￿ ASwg11 u Fee￿￿ IntQ seryte tr￿fUm￿l￿l.lheJEot1￿￿U￿rf￿s&fjCnvsRk toottwCr￿ h8ve 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. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilitie5 under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitylgroup in accordance with the ethical requireTnents 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. Vve believe that the audit evidence we have obtained is suffficienl and approprTale to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial slaternenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relab.ng to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of al least twelve months from when the financial statements are 8Uthorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this reporL Other information The trustees are responsible for the other infomiation. The other information comprises the information included in the Trustees, Annual Report. Our opinion on the ff nancial statements does not cover the other information and, ex￿pt to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the finaneial statements or a material misstatement of the other information. If, based on the work we have perfomied, 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. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit. 33 Greenwich & Bexley Community Hospice INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF GREENWICH & BEXLEY COMMUNITY HOSPICE LIMITED Icontinued the information given in the Trustees, Report (which includes the strategic report and the directors, report prepared for the purposes of company lawl for the financial year for which the financial statements are prepared is consistent with the financial statements., and the strategic report and the directors, report included within the Trustees, Report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and the parent charitable company and ils environment obtained In the course of the audit, we have not identified material misstatements in the Trustees, Report Iwhich incorporates the strategic report and the diiectors, report). We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us lo report to you if, In our opinion". adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us., or the parent charitable company financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. Responslbllltles of trustees for the financial ststements As explained more fully in the trustees, responsibilities slalement sel out on page 32, the Iruslees (who are also the directors of the charitable company for the purposes of company lawl 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 lo enable the preparation of financial statements that are free from material misslalemenl, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group's 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 Iruslees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic allernalive bul to do so. Auditor's responsibilities for the audit of the financial statements Our objective5 are to obtain reasonable assurance about whether the financial slalemenls as a whole are free from material misslatemenl, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misstatement when it exists. Misstalemenls can arise from fraud or error and are considered material If, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial slalemenls. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misslatement5 in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Based on our understanding of the group and the environment in which il operates. we identified that the principal risks of non-compliance with laws and regulations related lo compliance with regulatory requirements of the Care Quality Commission, Charity Commission, employment law and health and safety regulations, and we considered the exlenl to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct Impact on the preparation of the financial statements such the Companies Act 2006, the Charities A¢1 2011, the Slalemenl of Recommended Practice for Charities ISORP 20151 (Second Edition, effective l January 20191, payroll taxes and VAT. Greenwich & Bexley Community Hospice INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF GREENWICH & BEXLEY COMNIUNITY HOSPICE LIMITED (continued} We evaluated managemenfs incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were re18ted to recognition of income and management bias in certain accounting estimates. Audit procedures performed by the engagement tearn included.. Inspecting trustees, meeting minutes., Inspecting correspondence with regulators and tax authorities., Discussions with management including consideration of known or suspected instsnces of non- compliance with laws and regulation and fraud., Evaluating management's controls designed to prevent and detect irregularities.. Identifying and testing journals, in particularjoumal entries posted at the year-end or with unusual descriptions,. and Challenging assumptions and judgements made by management in their critical accounting estimates. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and tfftnsactions reflected in the financial slatemenls, as we will be less likely lo become aware of instanTrs of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the auditof the financial statements is located on the Financial Reporting Council's website at.. www_frc.or .uk/auditorsres onsibilities. This description forms part of our audilorfs report. Use of our report This report is made solely to the charitable company's members, a5 a body, in accordanTr with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale lo the charitable company's members those matters we are required lo slate 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 anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Siobhan Holmes (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP Statutory Auditors 10 Queen Street London EC4R 1AG Date.. 35 Greenwich & Bexley Community Hospice CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {Incorporating INCOME AND EXPENDITURE ACCOUNT) Unrestricted Funds General Designated Restricted Fund5 2022 2021 Notes INCOME FROM: Donations and Legacies.. Voluntary Income General donations Charity shop donations Legacies Charitable activities.. Operating a Hospice Other trading activities.. Charity shop income Lottery income Other sales income Rental income Investment.. Other income.. 954,565 229,602 969,279 139,925 1,094,490 229,602 969,279 1,562,094 42,093 682,327 4,481,335 4,481,335 4,121,839 1,882,365 417,442 38,482 10,311 21,923 726,493 1,882,365 417,442 38,482 10,311 21,923 1.432,916 662,490 282,685 57,926 9,410 20,222 2,268,013 4a 4b 706,423 Total Income 9,731,797 846,348 10,578,145 9,709,099 EXPENDITURE ON: Raising funds. Fundraising and marketing costs Charity shop expenditure Lottery expenditure Charitable activities.. Operating a Hospice Clinical expenses 629,424 629,424 591,095 1,587,580 255,591 1.587,580 255,591 1,642,466 215,212 6,330,157 925,266 7,255,423 6,530,776 Total Expenditure 8,802,752 925,266 9,728,018 8,979,549 Net (lossesllgains on investments 10 67,064 67,064 89,180 Net incomel{expenditure) 996,109 178.9181 917,191 818,730 Transfers between funds 16 922,391 {843.20SI 179,1851 Net movement In funds 1,918,500 (843,2061 (158.1031 917.191 818,730 BALANCE BROUGHT FORWARD at 114121 2,777,702 1,966,349 6,269,308 11.013.359 10,194,629 BALANCE CARRIED FORWARD at 3113122 4,696,202 1,123,143 6,111,205 11,930,550 11,013,359 All recognised gains and losses are included in the consolidated slalement of financial activitie5. All transactions are derived from continuing activities. The accompanying notes form part of these financial slalernenls. Full comparative figures for the year ended 31 March 2022 are shown in note 21. 36 Greenwich & Bexley Community Hospice COMPANY NUMBER: 2747475 CONSOLIDATED AND CHARITY BALANCE SHEETS As at 31 March 2022 The Group 2022 The Charity Notes 2021 2022 2021 FIXED ASSETS Tangible assets Investments 6,089,764 891,566 6,210,485 811,342 6,089,764 6,210,485 892.568 812,344 10 6,981,330 7,021,827 6,982,332 7.022,829 CURRENT ASSETS Stocks Debtors Cash on deposit, at bank and in hand 11 12 5,457 1,736,456 3,063,749 2,708,338 4,825,528 3,160,586 2,257.589 4,338,029 2,911,964 7,533,866 4,805,662 7,498,615 5,169,553 CURRENT LIABILITIES CREDITORS.. Amounts falling due within one year 13 12,584,646) 1814,130) 12,334,170) 1657,2961 NET CURRENT ASSETS 4,949,220 3,991.532 5,164,445 4,512,257 NET ASSETS 11,930,550 11.013,359 12,146,777 11,535,086 FUNDS UNRESTRICTED FUNDS". General Fund Designated Funds Fixed Assets Fund Legacy Fund RTP Fund Building Development Fund 4,696,202 2,777,702 4,912,429 3,299,429 223,143 274,680 1,191,669 500,000 223,143 274,680 1,191,669 500,000 600,000 300,000 600,000 300,000 RESTRICTED FUNDS: Propety Fund others 5,866,621 244,584 5,935,805 333.503 5,866,621 5,935,805 244,584 333,503 16 11,930,550 11.013,359 12,146,777 11,535,086 51- The financial statements were approved and authorised for issue by the Board of Directors on L l i< 6 k / 2022 and were signed below on its behalf by.. MrsR uss Director David Atterbury Thomas- Director The accompanying notes form part of these financial statements. The net income for the charty only for the year is £611,691 12020121=£1.340.4571 37 Greenwich & Bexley Community Hospice CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Notes CASH FLOWS FROM OPERATING ACTIVITIES 1,842.590 1,762,349 CASH FLOWS FROM INVESTING ACTIVITIES Interest received Payments to acquire fixed assets Disposal of fixed assets Purchase Df investments 1,166 181,9771 2,240 1143,9631 9,750 111,0301 CASH PROVIDED I (USED INI INVESTING ACTIVITIES 1,761,779 1,619,346 INCREASEI (DECREASE} IN CASH IN THE YEAR 1,761,779 1,619,346 Cash and cash equivalents at the beginning of the year 3,063,749 1,444,403 TOTAL CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 4.825,528 3,063,749 NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT A. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2022 2021 Net income las per the Statement of Financial Acliviliesl 917,191 818,730 Depreciation charge Profil on disposal of fixed assets Gainson Investments Decrease in stock Ilncieaselldecrease in debtors Increase in creditors Interest received 202,698 194,640 19,7501 1100,4601 3,989 712,743 144,697 12.2401 180,2231 5,457 1971,8821 1.770,515 11,1661 Net cash used in operating activities 1.842,590 1,762,349 ANALYSIS OF NET DEBT The charity has no nel debt and therefore no analysis is required. 38 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sourees of estimation uncertainty in the preparation of the financial stslements are as follows.. Statement of compliance The financial ststements have been prepared in accordan￿ with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} leffecb.ve 1 January 2015)- the Statement of Recommended Practice for Charities {SORP 20151 (Second Edition, effective 1 January 20211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Greenwich & Bexley Community Hospi￿ Limited meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise staled in the relevant accounting policy note{s}. General infomiation The charity is a private company limited by guarantee, incorporated in England and Wales (company number 27474751 and a charity registered in England and Wales Icharty number. 10174061 the charity's registered office is shown in the referen￿ and administrats.on section. The charity is set up as a company limited by guarantee. Preparation of accounts on a going concern basis Im act of economic factors on our business The COVID-19 worldwide pandemic has generated an economic tsunami, demonstrating the inherent volatility to revenue income, coupled with the conflict in Ukraine and the rising cost of living, we continue to operate in incredibly uncertain times. We were pleased lo see the lrfting of many lockdown measures in April 2021, but our community remains understandably cautious and, as a result, it is difficult to predict how people will shop, donate and volunteer their time into 2022123. Following the instigation of our business continuity plan the previous year, many changes remained in place for significant parts of the year. Most notably, we continued to rely on more remote video and telephone consultation. although we were glad to bring outpatients back into the building and gradually relax some of our visib.ng arrangements for our inpatient unil. We have continued to see an increased need for care in the community, and the demand for Inpalienl and hospital support is also above pre-pandemic levels. We welcomed more volunteers back into all areas of our operation,. it was refreshing to see their generosity and commiknent which has been the lifeblood of the hospice fi)r so long. We designed our fundraising plans to be flexible and adaptable to sccommodate supporter behaviour and we were excited lo open our shops earlier than we had budgeted for, gaining an addib.onal three months, worth of income. We were glad to be able to benefit from an additional £706.423 Hospice Emergency funding from NHS England, and were sUPPOrted by an additional £299,000 of COVID-19 funding from the local NHS. The cost of living crisis has seen a significant increase in inflation instigated by high energy price5. The company will benefit from the various measures that the govemment is putting in pla￿ to support companies through this crisis. 3? Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS Icontinuedl ACCOUNTING POLICIES Icontinuedl In addition.. We have free reserves of £5.6m and have liquid funds of £4.8m in our bank account5 a5 at the year-end We are able lo Iiquidale the investment portfolio if necessary. Based on the plans and measures described above, the Trustees consider there are no material uncertainties about the Charity's ability lo continue as a going coricern. The review of our financial position, reserves levels and future plans gives Trustees confidence the charity remains a going concern for the foreseeable future. Consolidation The group financial stslemenls consolidate the financial statements of the charitable company and its wholly owned subsidiaries, GBCH Trading Limited and Greenwich & Bexley Community Hospice Lottery Limited. 11 is the group's policy to transfer the profits of the subsidiaries lo the charity under Gift Aid. A separate Statement of Financial Activities and Income and Expenditure Account for the charity has not been presented because the Charity has taken advantagè of the exemption afforded by section 408 of the Companies Act 2006. The surplus of the parent charity was £917,191 12021.. £818,730). The registered office for both GBCH Trading Limited and Greenwich & Bexley Community Hospice Limited is 185 Boslall Hill, London, SE2 OGB. Uniform accounting policies have been applied. Income recognition All income, including government grants, is rec￿nISed once the charity has enlillemenl lo income, il is probable that income will be received and the amount of income receivable can be measured reliably. Donations and legacles Donations and gifts and are included in full in the Statement of Financial Activities when there is entitlement. probability of receipt and the amount of income receivable can be measured reliably. Gifts in kind Gifts in kind represent assets donated for distribution or use by the Charity. Assets given for distribution are recognised as income only when distributed. Assets given for use by the charity are recognised when receivable. Gifts in kind are valued at the amount actually realised from the disposal of the assets or at the price the charity would othe￿ise have paid for the assets. Personal Protective Equipment IPPE} The group received donated PPE during the year, organised by Hospice UK. Grant$ Grants (including government grants) are recognised in full in the statement of financial activities in the year in which the charity has entitlement lo the income, the amount of income receivable can be measured reliably and there is probability of receipt. Income from charitable activities Income from charitable activities is recognised as earned as the related services are provided. Income from other trading ackn'vities is recognised as earned as the related goods are provided. Other Income Income received from pension recovery, salary recharges, Bexley adult social care contract, and NHS England are included in other income. Investment income Investment income 15 recognised on a receivable basis once the amounts can be measured reliably Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS {continued) ACCOUNTING POLICIES Icontinuedl Expenditure Expendbture is recognised On￿ 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. Expenditure is classified under the following activity headings.. Costs of raising funds wmprises-, fundraising and marketing, charity shop and lottery expenditure. Expenditure on charitable activities comprises Hospice operating costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred Expenditure is allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned based on staff time attributable lo each activity. Allocation of costs St8ff costs are allocated be￿een direct charitable expenditure and supptsrt costs based on the time spent on these activities. Other costs are allocated directly to the relevant heading. Fixed assets Depreciation is provided to write off the cost or valuab"on, less estimated residual values, of all fixed assets, except f￿ehOld land over their expected useful lives. It is calculated at the following rates.. Freehold buildings Fixture, Fittings and equipment Motor vehicles 10/0 Straight line 331130/0 and 1 OOA straight line 25Vo straight line Donated assets are induded at value on the date received. Investments Investments are a form of basic financial instruments and are initially shown in the financial slalements al market value. Movements in the market values of investrnents are shown as unrealised gains and losses in the Ststement of Financial Aclivilies. Stocks Stocks are valued al the lower of cost and nel realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal. The Trustees have concluded and agreed thatthe valuing of shops donated goods for resale on receipt is impractical due to the high volume of low value fiems, lack of stock system for recording these items and the administrative cost involved. Instead the income is recognised in the accounts when these goods are sold. Financial 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 al transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. 41 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl ACCOUNTING POLICIES Icontlnued} Creditors and provisions Creditors and provisions 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 p3rly and the amount due to sellle the obligation can be measured or estimated reliably. Creditors and provisions are normally cognised al their settlement amount after allowing for any trade discounts due. Debtors Trade and other debtors are recoonised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short malurily of three months or less from the date of acquisition or opening of the deposit or similar account. Operating leases Renta15 payable under operating leases are charged lo the Statement of Financial Activities (SOFA} as incurred over the term of the lease. Funds Unrestricted funds are funds that can be used in accordance with the charitable objects at the discretion of the trustees. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Re51riGted funds Comprise monies raised for, and their use restricted lo a specific purpose or donations subject lo donor-lmposed conditions. Estimates and judgements Estimates and judgements are continually evaluated and are based on historical experience and other factors, Including expectations of future events that are believed to be reasonable under the circum51ance5. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately may differ from those estimates. The Trustees consider the eslimalion of useful life of fixed assets lo be the area of judgement and eslimalion that have a significant effect on the financial statements. Further details on Ihesejudgemenls are provided above under tangible fixed assets. Legacies are recognised when the following conditions are confirmed.. there has been grant ol probate by the end of the financial year the executors have established that there are sufficient funds to pay the legacy any conditions altsched lo the legacy are either within the control of the Charity or have been met Employee benefits Short term benefits Short term benefits including holiday pay are recognised as an expense in the period in which the service is received. Employee lermin8tion benefrts Termination benefits are accounted for on an accrual basis and in line with FRS 102. Pension scheme Contributions to the NHS and Stakeholder pension schemes in respect of eligible employees are charged to the income and expenditure account as they become payable. The Stakeholder scheme is 8 defined contribution scheme and the NHS a final Salary scheme. 42 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS Icontinuedl DONATIONS AND LEGACIES 2022 Totsl 2021 Total Donations Legacies 1,329,092 969,279 1,604,187 682,327 2,298,371 2,286,514 INCOME FROM CHAR ￿ABLE AcTIV￿lEs Operating a HoSpi￿- NHS income 4.481.335 4,121,839 4a. OTHER SALES INCOME 2022 2021 Catering Income Training Income 5,184 33,298 2,072 55,854 38,482 57,926 4b. OTHER INCOME 2022 2021 Pension Recovery Medical Insurance Claims Landlord Contribtjtion to shop repairs Kickstart Rebates Covid Testing charges Leasè Extension Salary Recharge secondment Retail, Hospitality and Leisure Grant Furlough Refund including Trading NHS England Support Adult social Care Contract Charge for provision of medical notes Others 22,528 4.463 22,528 55,854 2,055 12,000 32,562 21,660 30,605 52,002 10,446 706,423 539,546 29,707 198,732 414,537 1,386,599 210,000 50 681 1,432,916 2,268,013 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl ANALYSIS OF GROUP EXPENDITURE 5a Direct and Support Costs Direct Costs Support costs Total 2022 Raising Funds Fundraising and marketing costs Charity shop expenditure Lottery expenditure 491,838 1.549,753 251,391 137,586 629,424 37.827 1.587,580 4,200 255,591 Charitable activities Operating a Hospice Clinical expenses 5,835.296 1,420,127 7,255,423 Expenditure 8, 128,278 1,599,740 9,728,018 Direct and Support costs Direct costs Support costs Total 2021 Raising Funds Fundraising and marketing costs Charity shop expenditure Lottery expenditure 495,074 1,606,183 211,372 96,021 591,095 36,283 1,642,466 3,840 215,212 Charitable activities Operating a Hospice Clinical expenses 5.548,610 982,166 6.530,776 Expenditure 7.861.239 1,118,310 8.979,549 44 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS Icontinuedl ANALYSIS OF GROUP EXPENDITURE Icontinuedl 5b. Support costs Administration Finance and IT Office Costs Governance Total 2022 Raising funds Fundraising and marketing Costs Charity shop expenditure Lottery expenditure 65,463 57,270 9,771 5,082 137.586 33,287 4,540 4,200 37,827 4,200 Clinical expenses 660,713 615.974 100.532 42,908 1,420,127 759,463 681,984 110,303 47,990 1,599,740 Support costs Administration Finance and IT Office Costs Governance Total 2021 Raising funds Fundraising and markeb'ng costs Charity shop expenditure Lottery expenditure 34,666 48,501 9,054 3,800 96,021 31,683 4,600 3,840 36,283 3,840 Clinical expenses 359,792 502.655 89,395 30,324 982,166 426,141 559,596 98,449 34,124 1,118,310 sc Governance costs include: 2022 2021 Staff costs Auditoff s remuneration. Audit work Other services 47,990 34,124 13,900 10,900 {2001 61,890 44,824 Where support costs are not incurred specifically for an activity heading, they are allocated on the basis of the number and level of staff ernployed within the appropriate activity heading. Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS Icontlnued) ANALYSIS OF GROUP EXPENDITURE leontlnuedl Employees The Group 2022 2021 Number Number The Charity 2022 2021 Number Number Average number of employees. excluding Directors Full lime equivalent figures 179 156 178 157 143 122 134 118 Staff costs consisted of: 2022 2021 2022 2021 Salaries Social security costs Other pension costs Redundancy payments 5,350,454 5,192,777 4,435,247 4, 190,992 540,939 499,901 465.838 422,939 369,278 368,642 332,792 326.220 20,062 20,062 6,260,671 6,081,382 5,233,877 4,960,213 Agency Medical services 175,719 222,163 29,422 283,955 169,416 222,163 29,422 283,955 6.658,553 6,394,759 5,625,456 5,273,590 The number ofemployees whose emoluments were £60.000 or above per annum were.. 2022 2021 £60,000- £69,999 £70,000- £79,999 £80,000-£89,999 £100.000 - £109,999 Of these, 8 employees are accruing pension contributions totslling £55,796 12021'.7 employees, accruing £44,105). The total employèe benefi'ts of the key management personnel of the Group were £524,915 12021. £448,572) Of this, £491,732 12021.. £416,889) relates to the key management personnel of the charity. TRUSTEES REMUNERATION AND EXPENSES No expenses were fftimbursed to trustees in the current year.12021.' £Nill. No Trustee received remuneration in the current or prior year. 46 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS {continued) NET INCOME 2022 2021 The net income is stated after charging-. Auditors, remuneration (excluding VATI For audit For tax compliant services Lease payments Depreciation 16,700 5,940 343,297 202,698 15,500 3,640 333,750 194,640 TANGIBLE ASSETS- GROUP Subsidiary Furniture, Equipment & Vehicles Group Total Freehold Land & Buildings Equipment Motor Fumiture & Vehicles Fittings Charity Total Cost or valuation Al 1 April 2021 Additions Disposals 6,918,444 2.116,082 60,627 69,650 21,350 140,8861 9,104.176 81.977 140,8861 127,801 9,231,977 81,977 1127,8011 11 $8,687) At 31 March 2022 6.918,444 2,176,709 50,114 9.145,267 9,145,267 Depreciation At 1 April 2021 Provided for the year Disposals 982,639 69,184 1,849.320 123.138 61,732 10.376 140,8861 2,893,691 202,698 140,886) 127,801 3,021,492 202,698 1127,801} {168,6871 At 31 March 2022 1,051,823 1.972,458 31,222 3,055,503 3,055,503 Net Book Value Al 31 March 2022 5,866.621 204,251 18,892 6,089,764 6,089.764 At 31 March 2021 5.935,805 266,762 7,918 6,210,485 6,210.485 47 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS (continued 10. FIXED ASSET INVESTMENTS 2022 2021 Charlty.. Shares in subsidiary companies al cost Listed Investments 1,002 891,566 1,002 811,342 At 31 March 2022 892,568 812,344 The historical cost of listed investments at 31 March 2022 was £750.00012021.' £750,000). 2022 2021 Al 1 April 2021 Additions Disposals Gainl Ilossl on investment nveslmenl Income Investment Fees 811,342 699,852 11,030 66,871 20,952 17,5991 100,460 17,983 16,7031 Al 31 March 2022 891.566 811,342 2022 2021 Investment in subsidiary undertakings Cost GBCH Trading Limited Greenwich & 8exley Community Hospice Lottery Ltd 1,000 1.000 Al 31 March 2022 1,002 1,002 The charitsble company owns 1000/0 of the share capital of GBCH Trading Limited being 1,000 Ordinary Shares of £1 each and 100Q/o of the share capitsl of Greenwich & Bexley Community Hospice Lollery Limited being 2 Ordinary Shares of £1 each. The subsidiaries are registered in the United Kingdom. The principal activity of GBCH Trading Limited (company registration number.. 56120681 is the operation of chaiily shops. The principal activity of Greenwich & Bexley Community Hospice Lottery Ltd Icompany registration number". 064837681 is lo generate funds for the p8rent company through the operation of a lottery. Where applicable, the lolal nel taxable profits are distributed to the Charity by gift aid. A summary of the results of the subsidiaries are shown on the next p8ge. 48 Greenwich & Bexloy Community Hospice NOTES TO THE FINANCIAL STATEMENTS {continued) 10. FIXED ASSET INVESTMENTS Icontinued} 2022 2021 GBCH Tradlng Llmhed Turnover Cost of sales 1.882,365 111,604) 662.490 {6,2391 Gross profit Administrative expenses 1,870,761 656,251 11.575,9771 11,636,227) Operating Ilossllprofit Other Income 294,784 1979,9761 10,716 390,163 305,500 1589,8131 13,505 Corporation Tax ProfiU(Lossl for the year 305,500 1576,308} ProfiVILossl brought forward 1521,727} 54,581 ProfiVILossl carried forward {216,2271 {521,7271 The assets and liabilities of the subsidiary were.. Fixed assets Current assets Current liabilities 583,422 257,214 1798,6491 1777,9411 Total net assets 1215,2271 1520,7271 Aggregate share capital and reserves 1215,2271 1520,7271 The net Iliabiltbesllassets of the subsidiary as at 31 Mareh 2022 were £ {215,227112020121.. £1520,7271. Greenwich & Bexley Community Hospice Lottery Limited 2022 2021 Turnover Cost of sales 417,442 282,685 {71,912} 167,600) Gross profi't Administmtive expenses 345,530 215,085 1183.6791 1147,6121 Operating profit 161,851 67,473 161,851 67.473 (161,8511 167,473) Distribution to parent charity Retained in subsidiary 49 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS lcontinuedl 10. FIXED ASSET INVESTMENTS {continuedl The Current assets and liabilities of the subsidiary were.. Current assets Current liabilities 223,148 112.853 1223,1461 1112,8211 Total nel assets Aggregate share capital and reserves The nel assets of the subsidiary as al 31 March 2022 were £212021.. £21. 11. STOCKS The Group 2022 The Charity 2022 2021 2021 Materials 5,457 12. DEBTORS The Group The Charity 2022 2021 2022 2021 Trade debtors Prepayments Legacies Other accrued income NHS England grant other debtors Amounts due from subsidiaries 689,226 349,053 878,116 54,811 644,089 93,043 96,284 225,536 923,559 58,311 318,120 114.646 686,351 71,693 878,116 39.000 644,089 70,060 771,277 86,443 58,482 923,559 42,500 318,120 94,527 733,958 2,708,338 1,736.456 3,160,586 2,257,589 13. CREDITORS: amounts falling due within one year The Group The Charity 2022 2021 2022 2021 Trade creditors Other taxes and social security Accruals Other Creditors Deferred income Inole 151. 489,798 132,693 804,218 897,087 260,850 239,858 127,599 316,381 49,900 80,392 446,571 132,094 630,113 897,087 228,305 222,122 127,599 205,984 49,886 51,705 2.584,646 814.130 2,334,170 657,296 50 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS (continued) 14. ANALYSIS OF DEFERRED INCOME Group Charity 2022 2021 2022 2021 Deferred income at 1 April Applied during the year Released during the year 80,392 211,546 131,0881 74,242 28,687 122.5371 51,705 179,000 {2,4001 51,705 Deferred income at 31 March 260,850 80,392 228,305 51,705 15. STATEMENT OF FUNDS {20221 At 3113122 At 114121 Income Expenditure Transfers & Gains Unrestricted Funds General Fund 2,777,702 9,731,797 (8.802.752) 989,455 4.696,202 Designated.. Fixed Assets Fund Legacy Equalisation Fund Recovery & Transformation Fund Building Development Fund 274,680 1,191,669 500,000 151,5371 11,191,669) 142,208 223,143 142,2081 600,000 300,000 300,000 Restricted Funds Donations Propety Fund 333,503 5.935,805 846,348 1925,2661 {10,0011 244,584 {69,1841 5,866,621 Group Total 11,013,359 10,578,145 19,770,226) 109,272 11,930,550 51 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS {continuedl STATEMENT OF FUNDS12021) At 3113121 At 114120 Income Expenditure Transfers Unrestricted Funds General Fund Designated.. Fixed Assets Fund Legacy Equalisalion Fund Recovery & Transformation Fund Restrlcted Funds Donations 2,049.220 8,003,163 17,443,203) 168,522 2,777,702 260,048 1,691,669 14,632 1500,0001 500,000 274,680 1,191,669 500,000 193,501 1.705,936 11,536,3461 129,5881 333,503 Property Fund 6,000,191 1.705,936 164,3861 5,935,805 Group Total 10.194,629 9,709,099 18,979,549) 89,180 11,013.359 The Trustees have deslgnated funds out of the unrestricted funds for speGrfi¢ Pu￿OS9S as follows.-. Fixgd Assets Fund In order lo fulfil its charitable objectives the Charity needs ils fixed assets. These assets, although unrestricted, cannot be realised wilhoul undermining the Charity's work and the Trustees therefore feel that it is appropriate to reflect the investment in fixed assets by means of a designated fund. Legacy Equalisation Fund In 2016117 the Trustees created a Legacy Equalisalion Fund taking advantage of the record legacy income in that year. The fund was established lo be used to moderate the fluctuating nature of legacy income by allocating any annual excess of legacy income received over the ten year average legacy income lo the Equalisalion Fund and lo release funds back lo the General Fund in years where the legacy income falls below the ten year average. Due to above average income in 2021120, £735,291 was transferred to the Legacy Equalisalion Fund from the general fund. The Board took the decision lo wind down the 'Lega¢y Equalisalion Fund, this year, and to invest this into the two remaining designated funds with the balance transferred to the General Fund Recovery and Transformation Fund This fund has been set up lo invest In a number of projects to support the Recovery & Transformation Programme. The Hospice Recovery and Transfomialion Programme was approved by the Board of Trustees al the end of 2021. The purpose of the programme is lo help us recover from the effects of the pandemic and lo support transformation in seven priority areas, Identified and crystallised by the COVID-19 experience.. Service Transfomation Refreshing Volunteering Staff Wellbeing and Development Equality, Diversity and Inclusion Retail and Commercial Development Fundraising Development Stakeholder Engagement Building Developrnent Fund Thi5 fund will be used lo support the development of the building post pandemic, including investment in our inpalienl unil, creating more single bedrooms to enable easier infection control and improvement of our staff changing and rest facilities to improve staff wellbeing. We are grateful lo CRASH Charity for facilitating a review of our Bostall Hill sile in 2021122. Thi5 created a feasibility study of the options available lo improve our building post pandemic. 52 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS Icontinuedl The Charity has the following restricted funds." Donations Fund This represents funds received where the donor has declared where the gift should be spent During the year, £228,843 was released into general reserves. Property Fund The predecessor organisation to the Hospice, an unincorporated charity, transferred the land and buildings on which the Hospice's main operations are located, to the Hospi￿ on restrictive tem)s for the sum of £1. The transfer documentation predates the SORP and Charities Act, but legal opinion elarified restrictive temis that the propety is held on trust by Greenwich & Bexley Community Hospice Limited on behalf of the predecessor org2nisab"on. However, the Charty has the legal right to register charges against the propety and it could be indemnified OLtt of the premises in respect of liabilities properly inCUr￿d in the Charity's role of Trustee. Accordingly, the net book value of the land and buildings together with all improvements made to date on the premises are reported as a separate restricted fund. Transfers betsveen funds reflects the capital building project and movement in fixed assets. Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS Icontinugd) 16. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS AS AT 3113122 General Fund Designated Restrlcted Fund Funds Subsidiary Reserves Total Fixed assets Investments Current assets Current liabilities 223,143 5,866,621 6,089,764 891,566 806,570 7,533,866 11,022,797} {2,584,6461 891,566 5,582,712 11,561,849) 900,000 244,584 4.912,429 1,123,143 6,111,205 {216,2271 11,930,550 ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS AS AT 3113121 General Fund Designated Rostrlcted Fund Funds Subsldlary Reserves Total Fixed assets Investments Current assets Current liabilities 274,680 5,935,805 6,210,485 811,342 4,805,662 {814.130} 811,342 2,410,423 77,664 1,691,669 333,503 370,067 1891,7941 3,299.429 1,966.349 6,269,308 1521,7271 11,013,359 17. PENSIONS The company contributes to the NHS and Stakeholder pension schemes in respect of eligible employees. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost represents contributions payable by the company to the pension scheme funds. The NHS scheme is a multi-employer deferred benefits scheme which is underwritten by the Treasury. The Charity's obligations are limited to its annual contributions. The scheme currently has an employee contribution of be￿een 50/0 and 13.5Yo and an employer contribution of 14.30k. The Stakeholder Scheme has an employee contribution decided by the employee and the employer contribution is 10/0 above the employee's contribution5 UP to maximum of 70A. The total employers pensions contribution for the year amounted to £332,792 {2021'. £326,220} and as al the balance sheet date the company held lolal contributions of £53,207 {2021'. £49,841) that were payable lo the pension schemes. The charity does not have any further commitments under these pension schemes. 54 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS Icontinuedl 18. OPERATING LEASE COMMITMENTS 2022 2021 Land & Buildings Land & Buildings Other Other As at 31 March 2022, the charity had annual lease rental commitments totalling.. Leases expiring within 1 year Leases expiring within 1-5 years Leases expiring after 5 years 208,897 6,884 193,049 4,065 511,699 8.658 490,998 8,073 5,151 18,332 725,747 15,542 702,379 12,138 19. CAPITAL COMMITMENTS 2022 2021 Aulhorised 5,000 20. RELATED PARTY TRANSACTIONS In 2022 the following transactions took place belween the Charity and its wholly owned subsidiaries GBCH Trading Limited (company number.. 056120681 and Greenwich & Bexley Communty Hospi Lottery Limited (company number.. 06483768).. Amounts due to the parent company at the yearend was £771,277. There are no other outstanding balanTrs with related parties as at 31 March 202212021.. £nill. The total amount of donations received from the trustees in the year was £9,15512021." £ 31,1131. 55 Greenwich & Bexley Community Hospice NOTES TO THE FINANCIAL STATEMENTS Icontinuedl 21. COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES120211'. Unrestricted Funds Restricted General Designated Funds 2021 Notes INCOME FROM: Donations and Legacles.. Voluntary Income General donations Charity shop donations Legacies Charitable activities.. Operating a Hospi¢e other trading aGtivities.- Charity shop income Lottery income Other sales income Rental income Investn7ent.- other incom8.' 1,242,757 42,093 882,327 319,337 1.562,094 42.093 682,327 4,121.839 4,121,839 862.49D 282.685 57.926 9,410 20,222 881,414 662,490 282.685 57.928 9.410 20,222 2.268,013 4a 4b 1,386.599 Total In¢ome 8,003,163 1.705.936 9,709,099 EXPENDITURE ON.. Raisijjg funds.. Fundraising and marketing costs Charity shop expenditure Lottery expenditure Charitable activtities.. Operating a Hospice Clinical expenses 591.095 591,095 1,642,466 215,212 1,642.466 215.212 4,994,430 1,536,346 6,53D.776 Total Expenditure 7,443,203 1.536.346 8,979,549 Net Ilossesllgains on investments 89,180 89,180 N•t incomellexpenditurèl 649,140 169,590 818,730 Transfers between funds 16 79,342 14,632 193,974) Net movement in lunds 728,482 14,632 75.616 818,730 BALANCE BROUGHT FORWARD at 114120 2,049,220 1,951,717 6,193,692 10,194,629 BALANCE CARRIED 2,777,702 1,986,349 6,269,308 11,013,359 FORWARD at 3113121 56