Charlty Reglstration No. 1019410 Company Roglstratlon No. 02803974 (England and Wales) ST BENEDICT'S HOSPICE, SUNDERLAND (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ST BENEDICT'S HOSPICE, SUNDERLAND LEGAL AND ADMINISTRATIVE INFORMATION Trusteos Mr D Moss Dr M J Walker MsJMBray Mr C H Trlvedy Mr R Acolllngs Ms M Bainbridge Mrs C Parry Ms M Wren Mr S Foster {Appolnted 19 Decernber 2023) (Appointed 10 Novarnber 20235 (Appointed 20 February 20241 {Appointed 10 Novgmber 2023) Charfty number 1019410 Company numbor 02803974 Rggistered office st Benedicfs Hospi St Benedicvs Way Ryhope Sunderf8nd SR2 ONY Auditor Inspire Compliance Llmited 6 Que8ns Court North Third Averiue Team Valley Trading Estate Gateshead Tyne and Wear NE11 OBU Banker8 HSBC ST BENEDICT'S HOSPICE, SUNDERLAND CONTENTS Pagè Thistee8' report Statement of Tru8t8es' ra$ponsibilitl8S Independent 8udltoVs report Stslement of flnancial activltles 10 Balance sheet 11 Statement of cash flows 12 Not&s to the financial statements 13-24 ST BENEDICT'S HOSPICE, SUNDERLAND TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Tr8 Trusteas present their annual report and financlal ststem8nts for the year end@d 31 March 2024. The financial statemenls hav8 been prepared in acwrdance wllh tha aGcountlng pollcles set out in note 1 of the financial statements and comply wlth Ihe charity's governing document, the Charities Act 2011 and 'Accounting and Reporting by Charfties.. Statement of Recommended Practice appllcable to charlties préparing thelr accounts in acLordan¢e with thè Flnanclal Reportlng Standard applicable In the UK and Republic of Ireland {FRS 102) (effectlva 1 January 2019)" Objectives and aGtlvitle8 st Benedicl's Hospl¢8, Sunderland Is a registerad charlty whlch supports St Benedi¢l's Hospice and Centre for Specialist Palliative Care, an NHS wn seNice offéring care and support to people from Sundarland and surrounding dlstricts. The charfty raises over £1 mllllon a year in voluntary and charitable donations for the hosplce, supporting a wlde range of actlvities, equipment and speclalist roles to support patients and lamllies. The charity currenlly funds the hospice counselling service, various medical and occupational therapy roles and provldes a wide range of 8pecialist and general equlpm8rit. Tha last 12 months have been challenging for tha tharfty. With th9 departure of the Dir8cior of Income Generation & Charity Oparalions and the restructure of roles across fundraising and retail the charity faced a period of 6 month where recwitmeni proved difficult. The role of Head of Retail and Fundraising has been fllled slnce November 2023 and the cha￿lY has seen a ratum to community-based income generation. Our relationship with corpordte supporkors, schools and businesses have grown and our social media statistlC5 Improve continually. The charlty team now has an additional fundraiser who will also manage the updating of the W8bsite whl¢h will be Instrumental in ralsing awarenass of the work we do. There hav6 been many damands on the charlty's funds during the past year. Not only have we conllnued to support the tradltlonal requests for patl8nt comforts., equlpm8nt tc 8nable better patient car8. trainlng for staff; and fundlng for many of Ihe hospica posts w& now face the Cosl of updating the transport vahicles usad by tho charity. As always, the charity would also like to thank the Board of Trustees for their ongoing expertlse and enthusiasm, ensuring the charily ¢ontlnues to grow and develop evan in thes8 challenglng times. Tha charity has contlnued to pursue Its a¢llvitie8 under five oblectives: To provide patients those comforts whlch are necessary to ensure that they b8nefll from the speclal atmospher& which Is unique to all Hospices,, especially St Benedlcts Hospice. Some of these are speclfic lo indlvlduals and their famllles To fundraise to meet the wst of the provision of Hosplce serviGes Support and provlde financlal a8SiStan¢8 to tha work in specialist palliallve Care with Ihe range of services provided for In-patients and out-patl8nts To continue to recruit and train volunt8ers To assist in the 8stablishment of a range of aducational programm88 that will improve the seNices provided at and through the Hospic8 The Charity Gonsiders that these objectives and adlvltles demonstrate clear beneflts to the publlc in the are85 sarved by tha Hospie8 based on the need ft)r palliative cara services. In seltlng objectlves and plannlng future d8velopments the Trustees have given careful conslderatlon to thè Charlty Commlsslon's genaral guidance on publlc benefit and are salisfied thal they me8t those requirements. ST BENEDICT'S HOSPICE, SUNDERLAND TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The policl8s of the ¢harlly 8re delermined by the Board of Trustees and &nsur8 day lo day decisions are Gonsistenl with these polici&s and associa16d procedures. Policies and prO￿dureS have t)een revlewed and r8vis8d, With new policles agreed where Identtfied. Limits of expenditure by delegat8d authority are clear and the Board Is Involv8d In making spendlng decisions. Where requests for expenditure requlre clinlcal and technical advlce, these ara provided by the Hospice Clinical Managem8nt Team. Fundralslng Updale Members of the Board, its st8ff, and the communlty $8rved by St Benedict's Hospice conllnuad to work hard lo ralse funds to support thg Charity In replacing fvnds lost durlng Covid. Apart from mgmbers of the fundraising team organlsing events, they also support membars of the local community in ralsing funds in the name of d9parted family members, and friends who may have received the excellent care offered by the Hospice. There are other community organisalions su¢h as darts clubs. other sporting assoclations who have been longstanding supporters of the Hospico, and continuo lo raise much wel(x)med funds. We are grateful to all of these members of tha Clty of Sunderland Community for thelr efforts. The charit￿8 prlmary source of Income is voluntary mon8y ralsed from the ganeral public, local buslnesses and charitable tru8ts and foundatlon8. Effective fundraising enables the Hospice to ensure thal pali&nls receive the best possible care, not confined to clinical care, but also their comfort in b8ing an Inpalient at St Benedict's. The Hospice has been operating for ov8r 10 years sinc8 Its opening in Ryhope. Many things have ch8nged such as tha croation of the Integrated Care Boards, how South Tyn@8id8 and Sunderland Foundotion Trust deliv&rs services and chang8S to the dellvery of care especially by Consultants, 8UPPQrting peop16 at home and in the Communlly and our valuablg out of hours nursing taam, muc* appreciat8d by Ihos8 r8ceiving home sarvices. In those 10 years some of the inpatlent and day patlent provision has changed and Ilke hou8ehDlds tt has been important to 8nsure our s@rvi¢es meet modern standards, including a thorough review of facilities In the inpati8nt ward and day s9rvIc￿. Thls has Included provlslon of n8w b@ds for patients and their farnilies If they wish to stay at the Hosplce, installation of smart televlslons in each of the rooms so that patients can watch Sky TV services etc., and mor6 modern eatlng arrangements for indlvlduals attending Day Servic8s through the purchase of new dinlng tab18 and chalrs and associated furnlture. These incurrad slgnificant expendiiur8 by the Charity but thavs why wa have the Charity and fundraislng activities. The transport team consisting malnly of volunteers, and provid8s an Invaluable servl¢e to indlvlduals attending either the day provlsion as well as the lymphoedema seNice or other clinics. and they ensure that indlviduals are picked up promptly from their home to attend appointments, and returned home as Soon as possibl& afterwards. The vehlcles used by the Transport team are provided by the Charlly and transport at no cost to the indlvldual, and the service Is muth appreciatad by those using it. Voluntaars are at Ihe core of delivery, whethor that be the Transport Team, Volunteers worklng in the Hospice Bistro or delivering actlvities such as raffles and other activities in the Community. The Trustee Board members are all volunteers and Iheir Job Is to ensure funds are avallablg to rneet patlonl needs. Trustees have held professional positions in a varlely of circumstances, and the Board is always keen to meet anyone who feels they have something to contribule lo the Board. An initial contact with our Fundraising staff based at the Hospi￿ can start the process. Please consider rf you can offer the tlme and expertise essential to become a member of the Board of Trustees. Th& charity Is reglst&red with the Fundral$ing Regulator and all our fundraising activllies comply wlth thèir Code of Fundralsing Practice. Thg organlsation has a Customer Relatlonshlp M8nagement {CRM) database In plac& which &nsur68 monitoring and support activltles of people fundraising for us. The CRM also ensur&s accurat8 financial record k8eping and thal we comply with tha General Data Protection Regulation (GDPR) which is r8gulated by the Infomialion Commlssioner's Offic8 (ICO). ST BENEDICT'S HOSPICE, SUNDERLAND TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The charily has a wide range of committad volunteers who regularly raise mon@y on bghalf of the charity, for example our Board of Tru8lees. These volunteers represent and ralse funds for the charity on a regular basis and 8s such we giva them the approprlate training and support to ensure thay maintain our fundraising slandards. Thls includes sharlng guidelin@s from the Code of Fundralsing Practlce, the Charity Govemance Code, regular meetings and oversight from the fundraislng t8am. The charity is CDmmitted to supportlng averyona who fundralsés for the charity and understand that some people may be classed as vulnerab18 due to their personal circumstances or the circumstanc8s of thélr loved onas. They ensure all of the slaff are trained and able to recognise someone who may be vulnérabla and WO￿ closely with the hospice clinical team to ensur8 the indivldual gets tha most appropriate support. The chaiity remalns commltted to growlng and nuriurlng the support we recélve from pèople who commlt to fundralse for the charity, often for very personal reasons. The Charlly remalns Incredible grats￿l for all the support it receives. Flnancial reviaw The charity reporlad a defI￿t during the flnancial year of £429,07812023: £407.017}. Thls was antidpated glven the staffing issues experienced during the year. A contribution from the retall operatlon of £196,975 <2023.. £203.668) reduced the overall defidt, Reserva8 Policy The R8serves Policy set by the Board of Trustees follow5 tha guidelines as laid oul by the Charity Commission. The truste@s have reviewed and updated the charIt￿S ReseNes Policy in light of the recent Covld-19 pandemlc to ensure there are unreslrided regerve funds in place to cover the following.. Continuity, R8sINcturfng, Cydical Mainlenance arKJ Dissolution. The Truslees are satisfied that there are sufficient reserves in place to cover these funds as of 31 March 2024. as laid out in their Reserves Statement for the year. Public Benefit The Trustees hav8 had regard lo the Charily Commlssion guldance on thelr18gal duty on public benefit. and are satisfied that the Charity delivers worlhwhlla public benafit. Due regard is pald to the guldance on publlc benefit when declding on what n8w projects the Charlty should undartake. Investmont Policy The Trustees have appointed Barclays Inveslmgnt8 Llmlted to advise them In rasp8Gt of its inve8lments. The charity is a long temi investor and seeks to obiain a raa60nable investment rotum. In placing funds lh8 high lev81 of Stock Management volatilily and continuing uncertainty regardlng world economic prospects have been taken Into account and balanced against an environment of low returns on cash funds, The investment brief 15 broadly deflned but ethlcal crlterla prevent Inv8Stment In companies that manufacture arms. alcohol or tobacco. The Trustees have jolned Flagstone C8sh Management which Is a piatfomi providing a basa for cash Investment runds, secured by the Government guarante8 scheme. Cash funds are held in these low-rlsk Investments which allow us to maximise available Inter8St rates. The Trustees have consld8red any effect which Br8xIt may have on the Invastments held. Rlsk Managembnt The Trusteas have a regularly r8vlawed Rlsk Register In place to assess the major risks to which the ¢harity is exposed, and are satisfied that systems are in place to mltlgat@ exposure to the major risks. The Trustees have overall responsibilily for tha System of internal conlrol for the charity, such a system, however, can provide onty a reasonable, but not 8bsolute assurance against fraud and error. Whilst palliatlve care services are largely funded by the NHS and the Foundation Trust, the major risk to which the Charity is exposed is a chang8 in government or NHS pollcies which may result in reconfiguratlon of service provision or reductlon of funding to Hospice servicas. Policles and pro¢edur8s have been revlewad and revls8d in order to mitigate rlsk. ST BENEDICT'S HOSPICE, SUNDERLAND TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARGH 2024 Future Policy The charlly is to continue developing its two charity 8trat8gy, which includes cost control, expansion of fundraislng activity and retall opor81ions. Structure, governance and managément st Benedict's Hospic8, Sunderland is a charilAblo company limlted by guarantee, whlch was incorporated on 18 March 1993 as Sunderland Cancer R8llef (Registered Charity No 1019410), with Fts Reglslered offi￿ St B6nedlct's Hosplce & Centre for Specielisl Palliative Care. St Benedicys Way, Ryhope, Sunderland, SR2 ONY. Th6 overall objective of the Charity is to "promote the rollef of sickness of persons from Sunderland and other parts of the North East of England sufferlng from cancer or any temilnal Illness or Intractable pain, and in particular bLrt without limiting tha foregoing by the provision of Hosplce and day centre facilitias. Tha Charlty works wlth South Tyn8sida NHS Foundatlon Trust through a Partn&rship Agreement @steblishad with Bffect from 1 October 2003. The charitable cornpany Is governed by Its Board of Twslees. The Twslees meet monthly at which a full ag8nda and flnancial statements are pr6sentgd. The Trusteas, who are also the directors for the purpos8 of company law, and who s8rved durfng thg year and up to thg date of signatur8 of the financial statements wer&.. Mr D Moss Dr M J Walker MsJMBray Mr C H Trivedy Mr R A Collings Ms L Brydon M$ M Balnbridge C Parry Ms M Wren Mr S Foster (Resigned 20 Aprll 2023) (Appointed 19 Decembar 2023) (Appolnted 10 November 2023) (Appointed 20 Febwary 2024) (Appointed l O November 2023) Recruitment and Appointm8nt of Trustees NBW Trnstaes are provlded wllh a proper Induction procass and a pack whlch providgs full Infomiation regardlng all they need to know about the charfty as well as their responsibllllies as Trustees. Auditor In a¢cordanc& wlth the companYs articles, a resolullon proposing that Inspire Compllanc8 Llmited be reappointed as auditor ofth8 company wlll be put at a General Meeting. Looklng Forward Our focus now Is to dallver against th8 charity's 5-year plan and eonlinu8 to bulld on its corporate and comtnunlty connectlons. Th6 charIty has pledged to be innovative and proactive in Its approach in dellvering its targ81s. Our commllmént to raising as much mon8y for the hosplc& as the charlty can, and in tho most eff6Ctive ways, remains Its prlority and are exdled to develop and grow its support in thg ¢omlng months and years. Th6 Twstees, report was approved by the Board of Truslaes. ST BENEDICT'S HOSPICE, SUNDERLAND TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Mr D Moss Chalrman Dated.. 1.7 ST BENEDICT'S HOSPICE, SUNDERLAND STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who ar8 also the dlrectors of St Benedicl's Hospl¢e, Sunderland for the purpose of company law, ar& responsible for preparlng the Trustees. Report and the financlal 8tat8ments In a¢cordance with applicable law and United Kingdom Accounting Standards (Unlted Kingdom Generelly Accepted Accounting Practice). Company Law requlras tha Truslees to preparo financial statsments for each flnanclal year whlch giv6 a true and fair vlew of the stal8 of affalrs of th@ charliy and of tha Incoming resources and applicalion of resources, including the income and expenditure. of the charltable company for that year. In preparlng these finandal statements, thè Trustses ar8 raquirad to: - 861@ct sultable accounting pollcles and Ihen apply them consistantly; - observa th6 methods and prtnciples In the Charllies SORP. make judgements and &stimates that are reasonable and prudent. state whether applicable UK Accountlng Standards have been followed, sublecl to any material departur&8 disclosed and explained in the financial slatemonls. and prepare the financial statement8 on the golng concem basis unless it is inapproprlate lo pr8sume that the charily wlll continue in operation, The Trustees are r8sponsible for keeping adequate accounting records that disclose reasonable accuracy at any tlme the financial positlon of the charity and enab18 th8m to ensure that th8 financial statements comply with Ihe Companies Act 2006. They ar8 also rasponsible for safeguarding the assets of the charity and hence for taking reasonablè steps for the pr8v8ntion and detection of fraud and other Irregularities. The Trustsgs are responsible for Ihe malntenance and integrity of th& charity and financial informatlon Included on the charity's webslle. LegislatlDn In the United Kingdom governing the praparallon and dissemlnalion of flnancial statements may diff8r from leglslatlon in oth8rjurFsdictlons. ST BENEDICT'.S HOSPICE, SUNDERLAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ST BENEDICT'S HOSPICE, SUNDERLAND Oplnion We have audited the financial statemants of St Benedicvs Hosplce. Sunderland (the 'charitl) for the year ended 31 March 2024 whlch comprlse the statement of financlal aclivities, the balance sheet. the siatement of cash flows and the notes lo the financial statements, Including Signifi￿nt accounting pollcies. The flnancial reportlng framework that has been applied In their preparation is appllcable law and Unlted Kingdom Accountlng Standards, including FRS 102 rho Financial Raportlng Standarf applicable in the UK and RepubliG of Ireland {Unit8d Kingdom Generally Accèptéd Aceountsng Pracllce). In our opinion, the financial statem8nl8: give a trua and falr view of the stste of the charitable company's affalrs as at 31 March 2024 and of Ils Incomlng resources and application of resources, for the year then anded., have been propety prepared in accordanc8 With United Kingdom Gen8rally Ac¢opt8d Accounting PraGti￿', and have bean prepared In accordance with the requlrements of the Charities Act 2011. Basi$ for opinion We conducted our audlt in accordance urith Internatlonal Standards on Audltlng (UK) (ISAS (UK)) and appllcable law. Our responsiblliti8s under those standards are further deS￿ibed in Ihe Auditor's r98ponsibllilies ft)r Ihe audll of Ihe flnancial slatements section of our report. We are Independent of tha charily In accordance wlth the ethical r8quirements thal are rèlevant to our audit of the financial statements In the UK includlng the FRC'S Ethical standard. and we have fulfilled our other ethical responsibilities in accordance with these requiréments. We balieve that the audit evldenc8 we have obtained Is sufficient and appropriate to provide a basls for our oplnlon. Concluslons relating to golng concem In auditing the financial slatements, we have concluded that the Truste8s' use of the going conc8m basis of accountlng in the preparation of the financial statem8nts is appropriate. Based on the work we have perfomed, w8 have not idenlified any material uncertainties ralating to events or (x)ndltions that, Indlvidually or collectively, may cast slgniflcant doubt on th8 charfws ability to contlnu8 as a going concem for a period of at least twelve months from when the financial 8tatemenls aro authori88d for Issuo. Our r8sponslbiliiles and the r6sponsiblllties of the Trusl8e8 Wlth respect to going concern are described in the relevant S8Ctions of this report. Othor informatlon The other information comprlses the inforrnatlon included In the annual report other than the financlal siatemants and our auditorfs report thereon. Tha Trustees are responsible for the other information contained withln the annual raporL Our oplnion on the flnancial statements does not cover the other infomiation and we do not express any fomi of assurance ¢onclusion thereon. Our responsibility Is to read the other information and, in dolng so, consider whether the other Infomiation is materially inconsistent with the financial statem6nts or our knowledge obtained in the course of the audit, or oth&TWi8e appears to be materially mlsstated. If we identify such material inconsist6ncl8S or apparent material mlsstatements. we are required to datermine whether thls glves rise to a material misststemenl In the financial stalements themselves. If, bas8d on tha worf( we have performed, wa conclude that there is a material misstaternent of this other infonnalion, we are required to report thal fact. W8 have nothing to report in thls regard. Matters on whlch we arè r&quired to report by excoptlon We have nothing to report In respect of the followln9 matters In relation to whl¢h the Charitias (Accounts and Reports) R8gulatlons 2008 require us to report to you if, In our opinion- the information given in the finan¢lal statemants is inconslstant in any materlal respect with the Trustees, report,, or sufficient accounting records have not bean kept., or the financial statements are not in agreement wlth Ihe accounting records., or we have not rec8ived all the infomialion and explanations we require for our audiL ST BENEDICT'S HOSPICE, SUNDERLAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ST BENEDICT'S HOSPICE, SUNDERLAND Responsibllltl88 of Trustees As @xplalned more fully in the statement of Trustees. responslbilltles, the Tru51aes, who are also the dir8Ctors of the Charlty for the purpose of company law, are responslble for the preparation of the flnan¢ial stat6menls and for being satisfied that th&y give a true and falr view, and for such Intemal control as the Trustees det&rmlne Is n&cessary to enable the preparatlon of flnancial statements Ihal are free from malerial misstatement, wheth@r due to fraud or 6rror. In preparlng the flnanclal 8latomenls, the Trusl8ès ar8 responsible for asse8slng the charity's abllity to contlnue as a going concern, dlscloslng, 88 applicable, rnatlers relat6d to going concem and using tha golng concem basls of accounllng unless the TnJ81eos either intend to liquldate the charllablo company or to ¢ease operatlons. or have no realistic altematlve but to do so. Audltorfs rosponslbllltles for the audit of the flnanclal statements The Trustees have elected for the financlal statements to b8 audlled In accordance wlth the Charitles Act 2011 rather than the Companies Act 2006. Accordingly w8 have been appointed auditors under sectlon 144 of the Charitles Act 2011 and report In accordance with regulatlons made under soctlon 154 of IhatAct. Our objectlves are to obtain reasonabl6 assuran￿ about whethèr the financial stat8ments as a whole are fr8e from materlal mis5tat&m8nt, wh&th8r due to fraud or emr. and to Issue an auditor's report that includes our oplnion. Reasonab18 assurance Is a high level of assurance butls not a guarantee that an audit conducted in accordance with ISA8 (UK) will always detect 8 matorlal misstatement wh8n It exlsts. Misslot8mants can arise from fraud or error and are considered material if, Indlvidually or in the aggr8gate, they could r8asonably b& expected to infiuen the economic decisions of users taken on the basis of these flnancial stat8ments. Th8 8Xtent to whlch our procedur88 are capable of detecting itregularltles, including fraud, Is detailed below. Our approach to identlfying and assessing the rlsks of material misstatement in respeol of Irregulariti@s, including fraud and non-compllan¢e with laws and ￿gUlatiOns, was as follows: The engagament partner ensured that the ongagement team collGCtlvely had the approprlale compelence, capabilillos and skllls to identify or recognise non-compliance wlth applicable laws and regulallons; We identlfled the laws and regulations applicable to tha company through dlscussions with Twslees and our management., We 888ess6d the exlent of compliance wlth laws and regulations idenJfied above through maklng enquiries of management and inspecting legal correspondence. Identlfied laws and regulations were communicated withln the audit team regularly and th& team remalned alert to inst8nc8s of non-compliance throughout tha audit. We asswed the susceplibilily of the charity's financial Btatsments to material missta18ment. Including obtaining an understandlng of how fraud mlght occur, by: Maklng enquirfes of managemènt as to where they ¢onsldered there was susceptlbility to fraud, thalr knowledge of actual. suspected and alleged fraud., Considering the internal controls in place to mitigate risks of fraud and non-0omp1ian￿ wlth laws and regulations; and Understandlng th8 design of the chan'ty's remuneration pollcies. To address th& risk of fraud through manag&ment bia5 and override of controls, we.. Performed anatydcal pmcgdures lo identify any unusual or unexpected relationships. Tested journal entrles to Identify unusual transactions-. Assgssèd whether judgements and assump￿On8 madé In d&termlnlng accountlng estimates were Indicative of potenll81 bias,. and Investigated Ihe ratlonale behlnd significant or unusual transactlDns. ST BENEDICT'S HOSPICE, SUNDERLAND INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ST BENEDICT'S HOSPICE, SUNDERLAND In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to.. Agreeing financial statement disclosures to underlying supporting documentstion., Reading the minLJtes of meetings of those charged with governance., Enquiring of management as to actual and potential litigation and claims., and Reviewing correspondence with HMRC, relèvant regulators and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is thal we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations lo enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve delibefate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at- httPS'.11 w￿.frC.org.UkIauditorSrasP0￿siblliIle$. This description forms part of our audilor's report. Use of OUT report This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our aLJdit work has been undertaken so that we might slate lo the charity's trustees those matters we are required to stste to them in an auditorfs 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have fomied. Richard Tait BFP ACA FCCA (Senior Statutory Auditor) for and on behalf of Inspire Compliance Limited Chartered Accountants Statutory Audltor 6 Queens Court North Third Avenue Team Valley Trading Estate Gateshead DH1 1TVV NE11 OBU Inspire Compliance Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as audilor of a company under section 1212 of the Companies Act 2006. ST BENEDICT'S HOSPICE, SUNDERLAND STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Deslgnated Restrictsd funds funds funds Total Total 2024 2024 2024 2024 2023 Notes nco Donations and legacigs Charitable activlties Other tradlng activities Investments 619,503 81,167 1,087,429 50,361 686,012 1,305,515 635,798 81,167 70.229 1,087,429 1,014,292 50,361 57.067 Total Income 1,838,460 686,012 2,524,472 1,777,386 gndituro on: Ralslng funds 294.420 294,420 304,892 Charftable actlvltles 1,145,099 865.378 2,010,477 1,195,250 Other 14 648,653 648,653 684,261 Total resources expendad 2,088,172 865,378 2,953,550 2,184,403 Net gxpendlture for the y8arl Nèl movement in funds (249.712) {179,366) (429,078} {407,017) Net expendlture for the yearl Net movement in funds (249,712) (179,366) 1429,078) (407.0171 Fund balances al 1 Aprll 2023 1,463,198 600,000 544,187 2.607,385 3.014.402 Fund balances at 31 March 2024 1.213,486 600,000 364,821 2,178,307 2.607.385 The statement of financlal aofjvilies Includes all gains and losses recognlsed in the year. Tha 8tatsment of flnancial actlvltles Includes all gains and losses recognised in the year. All Income and &xponditure d&rlve from continuing activities. Th8 Statom8nt of financial activlties also complies With the roquiremenls for an incom& and expenditure account under the Companies Act 2006. 10- ST BENEDICT'S HOSPICE, SUNDERLAND BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets Investments 76,440 52,556 17 52-,557 76,441 cuffent assets stocks Débt¢)rs Investments Cash at bank and in hand 18 19 20 5.627 82.711 448,915 1,734,500 6,198 755,515 541.086 1,986,342 2.271,753 3,289,141 Creditors: amounts falllng due within ono yoar 21 {146,003) {758,197) Net cuTh8nt assots 2,125,750 2.530,944 Total a8s6ts less Current liabilltles 2,178,307 2,607,385 Thé funds of the charily Deslgnated funds Restricied funds Unrestricted funds 22 600.000 364,821 1.213,486 600,000 544,187 1,463,198 23 2,178,307 2,607,385 The company is 8ntitled to tha ex8mpiion from the audit requlremant contained In sectlon 477 of the Companies Act 2006, for the year 8nd8d 31 March 2024, although an audit has beon carried oul under section 144 of th8 Charities Act2011. The dlrectors acknowledgg thelr responsibilliles for complying wlth the requirernents of the Companles Act 2006 wilh respect to ac(x)unting records and the preparatlon of financial stataments. The members have not required the company to obtsin an audlt of Its financlal statements under the requlrementS of th8 Companles Act 2006, for the yaar in questlon In accordance wlth sectlon 476. These flnancial statements have been prepared In accordance with the provlsions appllcable to companies subject to the small companies reglme. The financial statements Were approved by the Trustee8 on ... Mr D Moss Trusiaé Company reglstratlon number 02803974 (England 8nd Wales) ST BENEDICT'S HOSPICE, SUNDERLAND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notas Ca8h flows from operating acllvltlas Cash (absorbed byllgen&raled from operatlon5 26 (302,203) 345,773 Investlng a¢tfvitio5 Purchase oftangible fixed assets Investment income recelved 125,559) 57,067 50,361 Nel cash generated from Investlng a¢tiviti8s 50,361 31.508 Net cash used in financlng actlvltles Net (docrease)Ilnerease in cash and cash equlvalents (251.842} 377,281 Cash and cash aqulvalents at beginning of year 1,986,342 1.609.061 Cash and cash equlvalents at end of year 1,734,500 1,986,342 The notes on pages 13 to 24 form part of these financlal sL2tements. 12- ST BENEDICT'S HOSPICE, SUNDERLAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Charlty Infomiatlon st Benedicys Hosplc*, Sunderland is a privale company limited by guarantee incorwratéd in England and Walas and as such has no share capital. The registered offica is St Benedlct's Hospice, St Bengdict's Way, Ryhope, Sunderland, SR2 ONY. In the event of the charitable Company being wounns from suppliers. Amounts payable are classifi8d as current liabilities rf paymant is due within one year or le8s. If not, they are presented as non-curtBnl liabilltles. Trade creditors are recognised inltially at transaction price and subsequently measured at amortised cost using th& effective interest method. Derecognltlon of financial Ilabllltles Flnancial liabilities ara derecognised whan the charivs contractual obligatlons explre or ar8 discharged or cancelled. 1.12 Employee benefils The cost of any unused holiday entitlement Is recognised in th8 perlod in whlch the emplDyeo's seNlces are r8celved. Termination b8nefits are recognlsed immediately as an expense when th& charity Is demonstrably ¢ommltted to terminata the employment of an 8mployeé or to provide temiinatlon beneflts. 1.13 Roserves policy The Charity recognises Its important role In fundralsing to support the Foundation Trust In deallng with palliatlva Care, to that extent financial provislon by way of eslabllshing a reserve to ensuro the continuance of Ihls support. This position will be revlewed at each accounts year end and adjusted accordlngly lo meet any additional financial demands In the support given by the Charity. Above all the Chartiy must remaln flexlble in its commttments for the benefit of pationts either directly Dr indlrectly. It is the inl8ntion of the Charity to oxpand each year an amount at or equal to its incom8 on its charilable objectives. Any surplus will b8 invested at minimum risk so as to produce investmant income to supplemenl the CharrEies ability to meet the demand of th8 support sought, Crltlcal accounting estlmales and Judgemonts In the applicatlon ol the charity's accountlng policie8. th& Trusteos are required to mak8 judgements, estimates and assumptlons about the carrying amount of assets and liabilities thal are not readily apparent from other sources. The estlmales and a88ociated assumptions are based on hlstorical experienca and other factors that are considered to b8 relevant. Actual results may differ from these estimats8. The estlmates and underlying assumptions are reviewed on an ongoing basis. Revislons to accounting estimates are recognlsed in the period in which the estimate is revised where the revision afFecls only that perlod. or in the period of the revislon and future periods where thè revision affects both current and fulure periods. 16 ST BENEDICT'S HOSPICE, SUNDERLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donatlons and legaclo$ Unrastrlcted Restrlctèd funds funds Total Tota 2024 2024 2024 2023 Donallons and gifts Legacies receivable Grant income Trust Fund 300.143 304,380 300,143 304,360 686.012 15,000 433,873 36,541 136.620 28.764 686.012 15,000 619.503 686.012 1,305,515 635,798 Donatlon8 and glfts Donations In Memory Gift Aid 244,436 15,780 39,947 244,436 15,760 39,947 381,671 24,061 28.141 300,143 300,143 433,873 Charitable actlvlties Merchandl¥o Education InGome Ono Wl¥h Total 2024 Total 2023 2024 2Q24 2024 Ofihar income 10,793 29,720 40.654 81,167 70.229 Income from other trading actlvltles Unrestrlcted Unreslrlcted funds funds 2024 2023 Fundraising events Shop Incom8 Other income 201,543 845,627 40,259 90.929 891.560 31,803 other Irading activities 1,087,429 1,014,292 17. ST BENEDICT'S HOSPICE, SUNDERLAND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from investments Unrestrlctod Unrestricted funds funds 2024 2023 Other income 50,361 57,067 Raising lunds Unrestrlcted funds Total 2024 2023 Fundralsln Fundraising travel costs Staging fundraising events Fund￿lSIng requests Other fundraising CDSts Staff Ixsl8 27,384 31,731 33.389 19,122 68,386 21,310 31.979 43,386 14.005 71.008 Fundralslng and publicity 178,012 181.688 8ratin cos Merchandlslng IT and other offic@ costs Training actlvFtles staff costs 3,810 31,825 3,794 76,979 6,38g 27,719 3,594 85,502 Operating costs 116.408 123,204 294,420 304.892 18- ST BENFDICT'S HOSPICE, SUNDERLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable actNltle8 Hospice oporatlons 2024 Total 2024 Total 2023 Complementary tharapy Variable NHS support Special NHS support Transport servlces Sky Counsalling seNices Telephone Educational expens8S 816,012 489,985 508,875 54,047 6,584 71,781 1,129 816,012 489,985 508,875 54,047 6,584 71,781 1,129 515,752 508,941 49.625 1,351 71,781 1,386 9.410 1.948.413 1,948,413 1,158,246 Share of support costs (see nola 9) Share of governance costs (see note 9) 56,784 5,280 56,784 5,280 31.724 5.280 2,010.477 2,010,477 1,195,250 Anatysis by fund Unrestricted funds Restricted fvnds 1,145,099 1,145,099 1,083,947 865.378 865,378 111,303 2.010,477 2,010,477 1,195,250 Support costs Support Governance costs c¢sts 2024 2023 D&preciation Professional fee5 23,884 32,900 23.884 32,900 26,994 4,730 Audit fees 5,280 5,280 5.280 56,784 5,280 62,064 37.004 Analysed bébmeen Charitable actlvit18S 56,784 5.280 62,064 37,004 Governance cosls includes paym8nts to the audltors of £4,200 (2023- £4,200) for audit fees. 19- ST BENEDICT'S HOSPICE, SUNDERLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Not movement In funds 2024 2023 The nel mDvem8nl In fLJnds is slated afier chargingllcr6dlting}', Faes payable for the audil of the charlty's financlal slalements Depreclation of own6d tangible fixed assets 5,280 23,884 5,280 26,994 11 Trustee8 None of the Trustees (or any persons connected with them) received any remuneration or ben8fits from the charity durfng the year. 12 Employ•o8 The average monthly number of employees during the year was.. 2024 Number 2023 Number Full tima Part tlme 14 10 16 13 Total 24 29 Ther8 no amployees whose annual remungrallon was £60,000 or more. 13 Taxation As a Charlly, St Benedicvs HospFce. Sunderland Is exempt from t8x on income and gains falling within section 505 of Ihe Taxes Acl 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its chaiitable objectlves. No tax charges hava arisen In the Charity. 14 Other Unrestrlcted Unreslrlcted funds funds 2024 2023 Cost of 8811ing donated goods 648,653 684,261 648.653 884,261 15 Taxatlon Th8 charity is exampt from tax on income and gains falllng wlthln section 505 of tho Taxes Act 1988 or s@ction 252 of the Taxation of Chargeable Gains AGI 1992 to Ihe extent that these are applied to its charitable objects, -20- ST BENEDICT'S HOSPICE, SUNDERLAND NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2024 16 Tanglblo flxed assets Flxtures and Comwtfrrs Motor v•hlclg# flttlngs Tolal Cosl Al 1 April 2023 103,209 16,600 123,233 243,042 Al 31 March 2024 103,209 16,600 123,233 243.042 Deproclation and impalrment At 1 April 2023 D8preciation charg6d in thg year 65,919 10,438 10,719 5.129 89.964 8,317 166,602 23.884 At 31 March 2024 76.357 15,848 98.281 190,486 Carrylng amount Al 31 March 2024 26.852 752 24,952 52,556 At 31 March 2023 37.290 5,880 33,270 76,440 17 Flxed asset investments other Investmanls Cosl or valuatlon At 1 April 2023 & 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 2024 2023 other investments ¢omprls8: Notes Investments in subsidiaries The organlsation owns a slngle shara in North East Hospices Lottery Limited (Company Registration Number 03540674). 18 Slocks 2024 2023 Flnished gty)ds and good8 for resale 5,627 6.198 21 ST BENEDICT'S HOSPICE, SUNDERLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Dobtors 2024 Amounts falling du& wllhln one year 2023 Trade deblors Othèr debtors Prepayments and ac¢ru8d Income 686,012 6,520 62,983 44,209 38,502 82,711 755,515 20 Currènt asset Investment8 2024 2023 Unllsled investmgnls 448,915 541,086 The market value of the Barclays Investments at 31 March 2024 was £536.540 (2023.. £488,171), which Included an unrealised galn of £87,714 (2023.. £53,174). 21 Creditors: amounts falling due wtthln one year 2024 2023 Other taxation and social sgcurity Trade creditors Oth&r creditors Accruals and deferred incom8 6.973 128,875 1,770 8,385 55,720 702,477 146.003 758,197 22 Endowment funds - Designated funds These are endowrnent funds funds whlch are materlal lo the charltys acliviti&s. At l Aprll At 31 March 2023 2024 00,000 600,000 Previous year: At 1 Aprll At 31 March 2022 2023 600,000 600.000 -22- ST BENEDICT'S HOSPICE, SUNDERLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 unres1ri￿ed funds At 1 Aprll 2023 Incomlng resources R6sources At 31 March oxpended 2024 General funds 1,463.198 1.888,460 (2,088,172) 1,213,486 Previous year. At 1 Aprll 2022 In¢omlng Rasources At 31 March resources expanded 2023 General fvnds 1.895,427 1,640.766 (2,072,995> 1,463.198 At the ba5ance sheet date the charity had a commitmant to maka a further £500.000 special contrfbution to the NHS as It has done in previous yeats. In addition the charity has made a further £100,000 available for th8 garden project If needad. 24 Anatysls of net assets between funds Unrostrictod Deslgnatéd Restricted funds funds funds 2024 2024 2024 Total Total 2024 2023 Fund balances at 31 March 2024 are represented by: Tangible assets Investments Cu￿ent assetsl(liabilitles) 52,556 52.556 76,440 2,125.750 2.125,750 2.530,944 2,178,307 2,178,307 2,607,385 25 Related party transacllons The organisation owns 8 share in North East Hosp1￿5 Lottery Llmited. During th8 year donations were mada to tha organisation of£40.654 (2023.. £44,559). This income is shown in other income. -23- ST BENEDICT'S HOSPICE, SUNDERLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Cash generated from operalions 2024 2023 Deficit for the year (429,078} 1407,017) Adlustments for.. Investment income recognised in stat&ment of flnancial activltles Depreciation and impaimient of tanglbla flxed assets 150,361) 23,885 (57,067) 28,994 Movements In worklng capital: Decreasel(increase) in 81ocks Decr8as& in debtors {Decreaseylncrease In creditors Deceasel{increasel in Inv8slments 571 672,804 (612,194) 92,170 {4,223} 112.148 689,288 (14.348) Cash {absorbod by)Igenerat8d from oparatlons (302,203> 345,773 -24-