COMPANY NUMBER: 02651828 CHARITY NUMBER: 1023311 THE CITY HOSPICE TRUST LIMITED FINANCIAL STATEMENTS FOR THEYEAR ENDED 31ST MARCH 2025 THE CITY HOSPICE TRUST LIMITED Contents Report of the Trustees Report of the Indapand8nt Auditors 19 statement of Financial Activities 22 Balance Sheet 23 statement of Cash Flows 24 Not&8 to the Financial Statements 25 THE CITY HOSPICE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2025 The trustees are pleased to present their annual report together￿th the financial statements ofthe charity for th8 y8ar ending 31 March 2025, which are also prepared to meet the requir8ments for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandurn and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicabk to charities preparing their accounts in accord8nce with the Financial Rerx)rting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). The report also complies with the Charit16s (Protection & Swial Investment) Act 2016. Th8 company name is The City Hospice Trust Limited, but the Trust uses th8 working name of City Hospic8. 1. CHAIR'S REPORT As Chair ofthe Board of Trustees, l am pleased to present City Hospice's Annual Report for 2024125, This year has marked another important chapter in our jeumey towards achieving our long-term stra189iC obJ￿tIVeS.ll has also be8n a y8ar of signrficant operational and financial challenges. with staff shortages plaGing additional pressure on our t8am8. Despite these difficulties, our team's d￿lGatIOn and resilience have ensur￿ that patient care remains central to all we do. On behalf of the Board, l extend sincere thanks to our CEO, Liz Booyse, for her leadership during the year, and to our Clinical Director, Dr Margred Capel, for continuing to18ad with 8xpertise and compassiDn. Each year, I like to highlight a group whose efforts have particularly stood out, This year, I want to thank our nursing team. Their commitment, empathy, and prcfessionalism in supporting patients and families during the most diFficult of times has been truty inspirational. They have been unwavering in their support for our pali8nts and a source of strength for the entire organisation. This year also marked a major milestone for City14ospice as we celebrated 40 years of Service to the people of Cardiff. Highlights included a Chairfs Lunch and an excellent event at the Sen￿ld, bcth ofwhich brought together supporters, staff, volunteers, and stakeholders to recognise the Hospice's journey and enduring impact. It was a privilege to be part of these moments and to see the widespread appreciation for the Hospice's role in the community. Financially, it has been a challenging year, but l am pleased to report that our deficit was smaller than budgeteL￿a positive trend we've seen in recent years. The Board's strategy of drawing on reserves to invest in services and infrastructure is beginning to bear fwit, and we are now close to reaching a break- even position. This improved financial outlook has taken immense team effort, esp8cialty from our remarkable fundraising team led by Amanda Fenton. a true lead6rship role model. We are also grateful for tha work of our CEO, Liz Booyse, whose engagement with the Welsh Government and oth8r funders has play8d a vital role in securing the sUPPOrt we need. Finally, l am grateful to our volunteers, staff, ambassadors, fellow trustees, and many supporters across Cardiff. Your belief in City Hospi￿ makes all the difference, Thank you. Michael Baker, Chair of the Board of Trustoos 2. OBJECTIVES AND ACTIVITIES In preparlng this report and reviewing our objectives and activities during the year, the trusl88s have had regard to the Chaiity Commission's general guidanc& on public benefit. The charity 18 8stabli8hed for Ihe public b8n8fit by reli8ving sickness and pain to persons suffering from any chronic or lerminal illness, irrespective of race, colour or creed and to provide moral and spiritU81 support to relatives of such person8. All services are free of charge. No individual is ever excluded. The patients, and theirfamily and carers, are the most important relationships we hav&, and we listen carefully to their views so thatwe fully understand and appreciate their particular requirements. The clinical se￿l¢e and holistic support that we provide is d8sign8d to allow patl8nts lo stay at home, support8d by their carers, and to di8 in their preferred place of death, which is usually in their own home. Our Purpose, Mission and Values are the guiding principles of the ch8rty: Purpose Our purpose is to provide exceptional speclalist pallialive care and support to the people of Cardiff affected by a lif8-limiting or terminal illness. We empower people to live fulfilling lives whi18 also planning for a dignified death. Mission Our mission is to excel as a clinical service while ensuring financial sustainability. We aspire to be embraced by the people of Cardiff as their trusted end-of-life support service. To achieve this, we will develop a highly engaged workforce and live our values. Strategic Alm8 1. Clinical Excellence 2. Financial Sustainability 3. Engaged Team 4. Embraced by the people of Cardiff Values Passion and compasslon We work together with pride, compassion. purpos8 and dedicalion. Our charity ke8PS P8ople at Ihe heart of what we do and we recognis8 the vilal role played by our volunteers and supporters in delivering our services to the P80ple of Cardiff. Sharlng and empowerlng We focus on shared decision making with patients, peopl8 close to them and the wider communiti8s to empower people with lrfe-limiting conditions. As a team we share and celebrate success and give people tools to do theirjob, empowering decision making and encouraging innovation. Knowlodgeable and responsible We act with responsibilty and professionalism as a team, to provide the highest care, comfort and support lo our patients and peopl8 close to them. 3. APPROACH TO FUNDRAISING This section of the r8POrt, in line with the reporting requiremenls set out in the Charities Act 2016, explains our approach to fundraising activiti8S. A diverse and sustainable approach to incom8 generation and fundraislng 18 essential rf City Hosp￿@ is to continue lo expand and meet the needs of our pat18nts. As a local charity 8mb6dded in its I￿al community, and dependent on that local community for Its support, we benefit from the high visibility of our seNices and of the work we do lo support palients and their familieslcarers across the city. We have our own income generation t8am and sprEad our fundraising activities across a numker of different income streams, including fundraising from the communty, local businesses, gifts in wills, and applying for grants from trusts and foundations. It is very important lo Cty Hospice that our fundraising is carried out to the highest Standard as any failur8 in those standards would be immediately evident to our supporters and would impact directly on the support we currently receive. We are registered with the Fundraising Regulator and Fundraising Preference Servits and, addilionally, we have d8veloped a set of principles and policies, which set the way in which we work with our support8rs to raise rNoney. Fundraising activities carried out on our behalf are monilored as closely as possible. Members of th8 public raising funds 'in aid of City Hospice are asked to provide full information about their activity to us in advance ()f it taking place wherever possible. City Hospice takes particular care to protect vulnerable people who may wish to donate in support of ourwork. Our approach to working with vulnerable supporters is outlined in our Fundraising Policy. Many of our support8rs could be deemed to be in vulnerable circumstances due to current or previous bereavement. We hav8 olear guidelines in place Ihat stipulate the terms in which we may make contact with a patient I family member, which provides an element of r8assurance regarding their vuln8rabilty. However, wherever we suspect a sUPPOrter is in vulnerable circumstances or lacks capacity in our contact with them, our fundraisers must take steps to end that contact in a positiv8 and kind manner that prot8Ct8 their dignty 8nd any desir8 they have expressed lo support Cty Hospice. We recognise that everyone has the right to support their favourite causes and charities, but we also acknowledge that Cty Hospice has an obligation to protect those in vulnerable circumstances. It may be difficult in some situations forfundrais&rs to make a clear-cut decision as to wheth@r or not someone is in a vulnerable circumstance or lacks capacty, especially where the interaction is short lived, or th@ support8r is a stranger to the fundraiser, or the contact is not fac8 to face. Th&r&for6. we will always err on Ihe side of caution and support our fundraisers to terminate contact as outlined above if they are in any doubt at 811 regarding the vulnerability of the supporter they are dealing with. This apprO￿h has b88n infomied by the Institute of Fundraising document 'Treating Donors Fairly- Guidance for fundraisers responding to th8 needs of people in vulnerable circumstances and helping donors make informed decisions. City Hospice's fundraising plans and related activities are overseen and monitored by a su￿coMmittee ofthe Board of Trustees, the Inccme Oversight Committee. During the financial year 2024125 therewas no failure to adhere to the Fundraising Standards Board Codes of Fundraising Practice, no opt out requests or complaints about fundraising w8re received during the year via the Fundraising Preference Service. 4. ACHIEVEMENTS AND PERFORMANCE The year 2024 marked the 40th anniv8rsary of the Gharity, providing a wonderful opportunity to c&lebrate four decades of delivering outstanding palliative cara and support to the peopl@ of Cardiff. In May 2024, we were delighted to receiveth8 news that King Charles111 would continue as our patron. This significant announc8m8nt was warmly w81comed and r8f18Cts the King's long-stsnding commitm&nt to City Hospice. As we revlew the achievements and p&rformanc8 of 2024r25, we also tak@ this moment to reflect on the charity's accomplishments ovèr the past 40 years. and to recognise the many individuals whose dedication has enabled Cty Hospice to grow and thrive. In doing so, we have considered.. a. Cllnlcal Excellence b. Financial Sustalnablllty c. Engaged Team d. Embraced by the people of Cardiff a. Clinical Excellence Cty Hospice provides Gommunity palliative care to all patients registered with Cardiff General Practitioners. Most pati8nts referred to th8 Service have a cancer diagnosi8: approximately 40 % of patients hav8 a non- cancer diagnosis such as dementia, frai5ty, heart failure, chronic obstructive pulmonary disease (COPD) and pulmonary fibrosis. Cty Hospice re￿iVeS over 100 referrals for new patients p&r month resulting in a caseload of over 500 patients being cared for by City Hospice staff at any time. To work efficiently and PTioritise the time we can spend with patients the clinical staff are aligned with GP practices and review patienls within defined geographical areas. City Hospice's clinical seNices provides a holistic approach to care through a multidisciplinary team that assesses both the m8dical needs of patients and the support n88ds of th8ir cargrs. Our staff agree on a schedule for intervention, moniloring and follow up with each individual. Should a patient's condition chang8 between planned follow-up appointments, they are encouraged to contact our clinical line to alert staff. The incluBion cf specialist paramedics within the team has enabled a prompt response to reviews wh8n an individual's condition changes. Troublesome symptom5 are assessed and treated as thes8 arise. Individuals, fears and concerns can be explored and discussed. The staff provide the patient and their familylcarers the opportunity to 8xplore their understanding of the disease and the implications for them through futu￿ care p18nning The clinical service aims to., Provide specialised palliative assessment and patient-centred care to people with cancer and non- malignant life limiting illnesses Maximise people's independence and quality of life for as long as possible Support P8ti8nts with their preferences for end-of-life care, including ensuring patients achieve a dignified and peaceful death in th8 place of their choice and that their remaining loved ones are supported appropriately in their bereavement Urgent referrals to the service are respond8d to in two days. routine refe￿a￿S within seven days Advice and assessments by our Clinic81 Nurse Specialists (CNS) can be accessed seven days a week th￿ughoUt the year. Recognising the need for support to patients throughout the weekend our CNS team and palliative paramedics are based with th& Out of Hours GPS. The doctors participate in the Cardiff and Vale UHB on call rota. Respecting the need ft)r sustainability and broader access to holistlc SèNtces, we have expanded our Day Centre provision throughout 2024 and 2025. Friday morning offars an integrated palliative medicine clinic in which new patients can be review6d by a d(￿tor, w&lfar8 rights officers and cccupational therapists in a 'one stop shop,. F8edback has been very positive. with 820/D of patients retuming to th8 doctor-led clinic at Ty Hosbis after their initial assessment. 80/ discharged at this first assessment (because all issues were addressed), and 12°A CNS follow up at home because their h8alEh needs required this. Olh8r services now available for pali8nts at TP Hosbis include outpatient clinics, fatigu8 management groups, relaxatlon groups, compl8mentary therapy group8, day centre 80Ci81 groups and b8r8av8ment coffee mornings. We are supported in our provislon of servi￿8 by the amazing group of volunteers. Our Lead CNS Terri Gazi has retired after 18 years of dedicated clinical seNice at City Hospice but has retumed to support Ihe hypnoth8rapylrelaxation groups. Terri has baen a huge part ofthe clinical team and seNice delivery for so many years. City Hospic&'s breathlessn￿ management programme, 'Be inspired,, continues to thrive under the guidance of our Occupational Th8r8PlSts. Patients leam breathlessness management techniques. Some patients choose to attend a series of three sessions at Ty Hosbis at which the cause of the breathlessnes8 IS identified and explored with the individual, reversible causes investigated and treated, and both drug and non-dnjg techniques to manage breathlessness 8xplor8d. Som8 of thes8 S8ssions included working with their peer group and immediste carers to perfect the non-drug techniques and devek)p individualised care plans. Our service is committed to education and acc8Pts stud8nts or health prof8ssionals who wish to learn mor8 about our work. Catriona Seed, our Ecfucatton Lead, coordinates and delivers much of the teaching. We are curr8ntly exploring options to promote our training al a cost to a wider audignce. We work with Cardiff University to support medical stud@nts and doctors from the UK and abrcad wishing to 8xperience community palliative medicine during short placements with us and Cardiff University occupational therapy and nursing students. W8 take paramedic sludents from Swansea UHB as part of their training programme. We ar8 a training site recognised by H8alth Education and Improvement Wal8s IHEIW) with regular placements from d￿tOrS training to be palliative medicine specialists and general practitioners. In addition. W8 provide teaching sessions on symptom control and aspects of palliafive medicine lo other health and social care profes8ionals and care homes within Cardiff. We also support reflexology students who provide valuable support to the hospice. Cty Hospice has continued its collaboration with Cancer Relief, Gibraltar, another entirely communty-based h05pice like ours. This hospic8 outreach collaboration includes regular digital clinical meelings, clinical govemance meetings, teaching and peer support. Our s8rvice adheres to the designated National Standards for Specialist Palliative Car8 defin8d by th8 Cancer Services Coordinating Group 2005. the Quality Standards for end-of-lif8 care (Palliative Care Cymru Implementation Board) and The National Institute for Clinical Excellence 2004 guidance on Supportive and Palliative Care. W8 Operate a mu Ilifaceted audit programme, measure activity and clinical effectiV8n8SS through use of STAS {Supporl Team Assessment Schedule) and return information lo The National Council for Palliative Care and the Palliative Care Implementation Group and our sewice commissioners. W6 seek qualitative feedback from patients and families raga￿ling their experience of our seNice8 to inform our development using annual satisf8Ction su￿eY8. Patient Satisfaction Surveys Are you satisfied with the respect shown for your... Are you satisfied with the amount of tHne spent by our.., Ar8 you satisfiad that you were given the Opportunity.., Are you sat18fied with the attitude of eur sta Are you satisfied wilh the quality of care given by our How satisfied are you that the staff discussed the care... How satisfied ara you with the information given by.,. How satlsfied ara you with th9 infomiation giv8n by.. How satisfied are you with the contact made by our... 10 20 30 40 50 60 70 80 90 Very Dissatsfied Di8satisfied ll Satisfied llvery Salisfied A total of 88 suNey8 were reviewed. All surveys showed a Very Satisfi'ed or Satisfied result. Every aspect of care City Hospice provides was complitnented from coun5elling. welfare rights, occupational therapy and reflexology. Suggestions to be included in patient leaflets were details about secretaries and receptionistslwaiting areas. Services that they would like Cty Hospice to provide include collating a handout of relevant contacts Involved in the care of terminally ill patients and Muslimllmam help to reinforce religion at this difficult time. Physiotherapy and more relaxation services were also mentioned. Fortnightly nu￿8 visits wer8 se8n as es88ntial, City Hospice $8rvic8 was impeccabl8, and th8y had no id8a of all th8 S@rvices we offer. The importance of future car8 planning is an ess8nlial component of managing @ndwof-life care, ensuring adequate preparation has b88n made for delivering symptom control and that appropriate equipment is in place. Family and carers are aware of actions to take and who to contact in the event of needing int8rv8ntion. Other sewices, including Ihe distrl¢t nurs8s, arè involved in delivering care to support the individual and their family. Patients who for s8V@ral r&asons ar8 unwilling to explore and plan for these events 8re more Ilkely to be admitted to hospital at the end oftheir lives. During 2024- patients with a non-cancer diagnosis represented 35.4 % of all patient deaths known to our seNice. 89.5'/o of patients who expressed a wish about their preferred place of dealh were able to achieve their preferenc8 88.80/0 of patients who wanted to die in their own home were able to achieve this 83.50/0 of patients who wanted to die as an inpatient in the local hospic8 w8r& able to achieve this Bereavement and Counselling Service In 2024125, our bweavement and counselling seNices continued to develop in response to the needs of the communities we support. Over the past year, we have reached more people through our outreach clinics, increased 8cce&8 to bereavem8nt cafés across Cardiff, and deliv8red support in a growing number of schwls. Our bereavement and counselling seNices have been made possible through the sUPPOrt of our community, and the funding from several trusts and foundations. including a four-year grant from the National Lottery Community Fund's People and Places programme. The Bereavement Care In the Community project was cr8ated tD'. Help peop18 living with terminal illness, and their families, to receive the support th6y need to come to18rms with their situation and f88118ss afraid Enable those who are bereaved to access support that h81ps them understand their grief and develop ways to cope Build confidence in community organisations, including local businesses, to offer bereavement support safely and appropriately Reduce inequalities and inconsistencies in the availability of bereavement services We are pleased that in 2024125 more people accessed tailored pre-bereavement and bereavem8nt support 8t home, in communty settings closer to where Ihey liv8, and at our TSI Hosbis base in INhitchurch, Cardiff. This has been delivered through a fully integrateA. multi-disciplinary approach. As part of our broader commitment to reach people wherever they are, we also extended our counselling provision by establishing a new bereavement Se￿Ice within HMP Cardiff, alongside continued work supporting childr8n and young people in schools. Day Hospice and Wellbelng Sgrvice In 2024. the development of an expanded range of Day Hospice and Wellbeing Services for patients and families was identified by the Board of Tru8l8es as a strategic priority for City Hospic8. With a focus on enabling people with life-limiting conditions and t8rminal illnesses and their families and carers to live well and cope better, this approach is integrated with and complements our existing specialist palliative care. In the second half of the year, building cn feedback from p8tients and families, the following priorities were identified.. A new six week'Living Well, COLJrse providing information and support to help people feel more prepared for the future. A selection of 'PiGk and Mi* one-off sessions and short courses providing flexible support and activities focused on control, choice and independence, including living with pain, sle8ping bett@r and creative activities. Carer support services including opportunities to meet with and learn frorn other carers lo build confidence and provide peer support. Increased access to compl8m8ntary th@rapi8s such as reflexology. B8reavem@nt support including b8reav8ment cafès and w8llb8ing walks. We have also changed how we are delivering our day hospice seNice to increase capacity so more people can participate and provide more focused support and access to nurse assessment. This new approach has four key comerstones: 'Connectlng' with others and being part of a community of support. 'Learning' new skills through wothshops, demonstrations and participation. 'Focuslng on Ilvlng, including experiencing joy and fuifilment. 'Acknowledging dying, through reminiscence, reflection and remembrance. We know this new way of working is making a difference because people have told us: .1 f891 Jess lonaly because I havg somewhere to go and talk about things- it's 8 bit easigr than when I'm at home" 'Day Hospice JS SD much more Ihan a place to me - its family 8nd frisnds all mlled in to one. .1 really couldn't live without if We are so excited to see our plans unfold and make an even bigger difference. Thank you to the charitable trusts and foundations whose funding has made these first positive steps possible. b. Financial Sustainability In 2024 to 2025, Cty H05pice continued to str8ngthen its financial su5tainabilitythrough a diverse and adaptive approach lo income gen&ration. W8 marked our 40th annivarsary wilh a renewed focus on long term impact, building on four decades of care. connection and community support. Wort(ing across departments. including fundraising, retail and volunteering, we introduced new initialives, expanded existing relationships and remained responsive to the evolving needs of the Cardiff CDmmunty. Our efforts 8nabl8d Ihe delivery and development of essential services, ensuring we can continue to provide high quality, compassionat8 care for patients and th8ir families. Fundralslng This year, fundraising remained al the heart of our suslainability strategy. Our team launched a wide range of events and campaigns that engaged individuals, businesses and partner organisalions across Cardiff. We proudly celebrat8d our anniversary with a series of memorable ev6nt8 including our Anniversary event at the Senedd. the Sparkle Walk and a deeply moving Christmas Remembrance Service at Llandaff Cath@dral. Our Forever Flowers campaign returned for its fourth year, attracting MO￿ than 1.000 flower dedications and drawing visitors to Cardiff Castle for a h8artfelt Cel8bTation of Life. We also launched our new Hospi￿ Lottery, as a vital income stream for the charily. enabling people to regularly support our work. Community fundraising was especially strong. From the Ribbons of Remembrance campaign to Ihe festive Rudolph Run, schools, nurseries and community groups helped raise vital funds while strengthening local engagement. Corporate support also grew, with our 40 Charity Challenge encouraging cr8ative initiatiV88 across dozens of workplaces. Events such as our Celebrity Golf Day, the Chairman's Lunch and a 200 foot abseil down Bwnel House further boosted awarengss and income. We ar8 incr8dibly grat8ful forthe support ofcharitabletru8ts and foundations. whc)s8funding made a significant contribution to our clinical, counselling and w8llbeing s8rvices. We acknowledge the generosity of The Hodge Foundation. The Moondanc8 Foundation, the National Lotl8ry and many oth8rs whose support 8nables u8 to extend our care to more people across the cty. Our Light up a Lif& appeal, refreshed with a new identity in 2024. raised over £150,000, bolstered by match funding from The Hodge Foundation. Th6 campaign remains one of our mosttre8sured and effective appeals, offering comfort and connection during the winter months. Rotail Actlvitios Our retail team continued to adapt to a challenging high street environment while contributing to th8 organisation's wid8r financial goals. The opening of our Colch8St8r Av@nue superstore marked a major step fomard, allowing us toexpand our retail range lo includefurniture and electrical ilems, and improve operational efficiency with addilKJnal warehouse space. Specialist shops in Whitchurch and Penarth adopted a more focused retail approach tailored to local communty needs, while our stores in Rhiwbina, Ely and Llanishen remained importanl touchpoints for customer8 and donors alik8. City Hospice r8tail activity also made a notable environmental impact, proc8ssing over 30 tonnes of donations and diverting more than 21 tonn88 of reusabl8 it8ms from landfill. Our commitment to sustainability through reuse and recycling continues to be a key parl of our retail strategy. Volunteerlng Volunteers remain central lo every aspect of life at Cty Hospice. In 2024 to 2025. we welcomed more volunteers than ev8r before and invested in improving reoruitm&nt. support and recognition. Th8ir time, skills and compassion underpin all that we do, from retail and fundraising to ev8nts and hospice care. We were proud to receive the Investing in Volunteers Award, the UK'S recognised standard for best practice in volunteer management. This achievement followed a rigorous 18-month assessment process involving staff, trustees and volunteers, 11 reflects the strength of our volunteer programme and eur commitment to offering a rewarding ancl inclusive experience for everyone who chooses to give their time. Corporate volunleering also expanded, particularly at our Colchester Avenue store, wher6 local and national businesses 8ng8ged in meaningful, hands-on 8UPPOrt. These partnerships continue to enrich our work while deepening community ties. Ourvolunteers are the heart of City Hospice. Their generosity enables us to care, to grow and to remain a vital setvice for the people of Cardiff. We are deeply grateful for their ongoing dedication. c. Engaged Team The continued success of City Hospice is driven by the dedication and passion of our entire leam. Our administration, finance, volunteering. fundraising and retail staff and volunteers work tirelessly alongside clinical colleagues, all united in our core purpose of delivering compassionate, expert care to the p&ople of Cardiff. Throughout 2024 to 2025. we have prioritised engagement and dèv61opment acro8S the organisation. A series of Lunch and Learn sessions were held, covering important topics such as supporling Muslim colleagues in the workplac8, m8nopause awarenes8, updates on the Ty Hosbis dev&lopment. and a special session with the High Sheriff of South Glamorgan. These events fostered leaming, inclusion and collaboration among staff. We also celebrated a significant milestone by holding our first staff Annual General Meeting, where our CEO, Liz Booyse outlined key priorities for the year ahead. The focus for 2025 lo 2026 includes: 1. Enhancing Patient Care Expanding the Day Hospice Plan to reach more people Continulng the development of T9 Hosbis as a modern and welcoming facility 2. Strengthening Communication Improving patient materials to help families navigate car8 With confidence Expanding remembrance initiatives to provide refl8Ction and support 3. Ensuring Financial Sustainability Securing fair funding and d6v81oping strategic fundraising Maximising retail potential lo sustain and grow services 4. Supportlng Our Workforce Prioritising wellbeing. collaboration and leadership development Leveraging digital innovation to improve efficiency and patient care This year also saw the 8xpansion of our fundraising team, further slrengthening our capacity to support vital services. We marked the achievement of the Investing in Volunteers Award. recognising our commitment to creating a supportive and rewarding environment for volunteers. Seasonal activities brought staff and patients together in celebration and community spirit. Highlights included a f8Stive afternoon tea for patients served by staff, a festive quiz, and the opportunity for two members of staff to attend a special Carol Se￿ice at Westminster Abbey. Additionally, all staff were invit8d to watch a recording of our 40th Anniv8rsary 8vent held al The Senedd in Jun8 2024. reinforcing the sh8red pride in our hospice's hi810ry and future. We also welcomed new team members, particularfy within our Day Hospice and Wellbeing setvice, ensuring that our workforce continues lo grow in line with the evolving needs ofthe people we care for. Our 8ngag8d, skilled and compassionate team remains atthe h8art of City Hospice. Th8irco118Ctive dedication, professionalism and kindness 8nable us to d81iv8r on our mission ev8ry day. provKling hope and support to th(k88 facing the mosl challenging moments of life. d. Embraced by the people of Cardrff What a remarkable year it has been for City Hospice as we proudty marked our 40th Anniv8rsary- four decad8S of care. compassion and communily spirit for the people of Cardiff. In 2024, we were privileged to support more than 1,800 people and their families. Each of these individuals has a story of connection. strength and rBsilience, and it has been our honour to walk alongside them, ensuring no one faces the end of life alone. Our anniversary year was not onty a time to reflecl on our history but also a chance to look fo￿ard. We considered how best to shape Tg Hosbis into a space that continues tc meet the evolving neads of our patients, carErs, families and the wider community, a true home for hospice care in Cardiff. Throughout the y@ar. we 8xpand8d se￿ice8, str8ngthen8d partnerships and simplrfied access to vital support, These developments were underpinned by the continued loyalty and generosity of the Cardiff community, We have been deeply moved by the outpouring of support from individuals, schools, communty groups and local businesses. Whether fundraising, volunteering, donating or simply spreading the word. our supporters have stood beside us with unwavering commitment. Their actions have not only raised essential funds, but also awar&n8ss and understanding of the importance of hospice care. This sense of shared purpose has been celebrat8d during our 40th Anniversary year. We have seen first-hand how th8 peopl8 of Cardiff have embraced City Hospice as a trusted and valued part of the community. 10 As we move fop14ard, we do so with immens8 gTrtitude for this support. It strengthen5 our resolve to continu8 delivering compassionate care for all who n88d it, now and in the yearE to come. 5. FINANCIAL REVIEW As report8d last y8ar, w8 made an overall deficit of£325,299 in 2023124 and metthis by reducing our reseN6s. In preparing our budget for 2024125 w8 anticipated another difficult y&ar financially and s@t a budget that anticipated a deficit of £418,945, with a further reduction in the level of our r6senre8. The year-end position as reported in these flnancial statements shows our income forthe yearwas £3,199,502 (compared to £2,758,700 in 2023124) with expenditure totalling £3,572,450 (£3,126,268 in 2023124). This defrcit of £372,948 on oparational activities was increased by £4,639 as a result of the decrease in market value of investments. A net decreas8 in rese￿&S of £377,557 (against the budgeted deficit of £418,945). In cverall terms, our 'free reseNes' now stand at £1,498,974, but W8 have revised the lev@1 of our designated revenue reserves to £293,398, which mainly relates to the Tg Hosbis r8d8v81opm8nt. The total therefore of our'free reserves, and designaled funds is £1,792,372, compared to£2,243,697 lastyear, this dces not include the fixed asset designated reserve of £1,067,659 (£522,922 2023124). The significant movement in the fixed asset designated reserve is because the restrictions relating to the Big Lott8ry funding towards the building of th8 hospice centre awarded in 2005 is now removed {th8re was an original 20 year 'clawback' period), so we have be8n able to transf8r the net book value of the buildings from restricted funds to the fixed assat d8signat8d resetve. a. Investment powers and pollcy Our M8rnorandum and Articles of Assc(iation allow the trustees to invest the monies of the charity not immediately required, in inv8Stments, securities or property. All monies are therefore invested except for that portion retsined as working capital in cash necessary to m8et our day-to4ay cash flow requirements. Approximately half of our reserves are held in bank deposits for varying tenM5 and as part of our financial risk management approach. The Bank of England's Monetary Policy Committee has maintained interest rates during 2024125 between 5.25% and 4.50 /0. The City Hospice holds investments with fund managers Brewin Dolphin. Our investment policy is to earn dividend and interest that exceeds inflation and bank account interest, and lo maintain a level of investments that at least malGh the movement in the ￿SE 100 index. However, during 2024125 the retum on investm8nts ha5 been below th@se levels and we have also had to draw down £500,000 from our investsments in order to support cash flow requirements. We will continue to monitor both the level and r8tum on our investments during 2025126. As reported above, the decrease in market value at the end of the year was £4,639 (compared to an increase in value of £42,268 lasl year). We recognise that the stock market remains velatile at the mornent, and Ihat our investments are held for the long term. b. Reserves policy The purpcse of Cty Hospice's reserves policy is to ensure that the charity's ongoing and fulure activities are reasonably protected from unexpected variances in its income and expenditure. As part of financial monitoring during the year, Trustees regularly review our reserves end designated funds policy. In reviewing our reseNes policy for 2024125, the Trustees have taken into account the risks to the sources of income that th& charity faces, whilst at the same time recognising the need to make reserves available for furthering our objectives. In consid8ring this, a reseNes level of betW88n 6 to 12 months clinical 11 exp8ndtture,18ss the level of SLA funding we receive has been set, me8ning that W8 should hold reserves of b8tw@8Jn £729k and £1.457k. As reported above, our gen8ral purpose res8rv&s stand at £1,498,974, which remains above this range. The trustees agreed to decrease the level of designated funds to £1,361,057 which have been split into the following categories: Futur8 plans & commitments - funds set aside for strategic developments. Capital programme funds - this fund has been designated to fund emergency and planned maintenance of our buildings. Tangible fixed a&sets funds - this is an accounting reserve that matches the fixed asset n&t book valu6 less the closing valu8 of the restricted capital funds. Our total r6serves now stand at £3,878,016 and can be summarisad as.. Restricted funds £1,017,985 (of which £1,000,000 relates to the original hospbce centre funding) £273,398 £20,000 £1,067,659 £1,498,974 £3,878,016 Future plans & commitments designated funds Capital programme fvnds Tangibl8 f￿8d assets designated funds Free reserves Total r&s8rv@s c. Golng Concem Funding from Cardiff & Vale University Health Board was subject to a three-year agreement that start8d April 2022. however, this has been extended by one ￿rther year to March 2026. The Cty Hospice anticipates a further budget deficit of £330,364 for 2025126 but has sufficient funds to manage this position. The trustees th8r&fore of th8 view thal the charity is a going concern, and the financi81 statements have been prepared on that basis. d. Rlsk Management The trustees fully recognise their responsibility for managing risk and the need for identifying. assessing and minimising the major risks to wh￿h the charity is exposed. Through the various committees all risk8 which th8 charity fac8s are properly identifi'ed. reviewed and evaluated, and systems and processes are then put in place to mitigate the8e risks. The key risks we have identified are summarised below, showing how we have responded to the risks identified from last year and any new signrficant risks for 2025126: Key Risks Financial investments Our investsnent strategy recognises that we need to invest some of our funds to achieve a h￿her rate of retum. Control measures Annual review of investment performance and approval of an investment strategy and in-year monitoring of investment performan￿ by the Finance Ccmmittee. In year performance monitoring by the Income Oversight Committee, with further oversight by the Finance Committee. Perfomiance In 202412S Due to the volatility of financial investments and the need to consider future cash flow requlrements this risk remains for 2024125. Retail operations Our Retail Operations review highlights the need to improve performanc8 of our shops, During 2024125 we have continued to inv88t in our retail activities, but have yet to see the 12 recognising that this delivers both a financial retum and maintains a City Hospice presence in local communlties. full impact of this in increased sales. This remains a significant risk are for 2025126. 6. PLANS FOR THE FUTURE a. The Cllnlcal and Counselllng Servlces Looking ahead to 2025126. our clinical and counselling services will continue to evolve in response to the increasing demand for patienl care, and the changing needs of those we support. Central to our plans is the continued enhancement of our Day Hospice and Wellbeing Service, with a particular focus on &xpanding access so that more people across Cardiff can benefrt from a holistic model of support. We remain committed to devaloping T9 Hosbis into a modem, w61coming space, that m88ts both current and future needs for patients, carers, staff and volunteers. Our ambition is to cr8ate a setting that promotes dignity. comfort and connpLtion. where patients feel valued and famili85 f881 supported. Improving communication will be another key priority. We aim to ensure thaf all patienl-facing materials are clear, accessible and supportive, helping people and their loved ones to navigate care with confidence. In parallel, we will continue to expand our remembrance initiatives, recognising how vital r8fl@ction and legacy are to the families we serve. W& will also continue to engage actively with the Welsh Gov8rnm8nt on the development of the new Service Specification for PalliatlV6 and End of Life Care. and the 8merging hospice commissioning framework. We hope these crucial steps towards consistent, fair and sustainable h05pice funding across Wales will be implemented in 2026. Through il all, we remain focused on what matters most- always seeing th& p8rson in the patient and ensuring that no on8 fac8S the end of life alone. b. Income Generation To ensure we can meet growing n￿dS and suslain our services into the future, financial sustainabilty will remain a core focus. We will continue to diversify and strengthen our income generation strategy, building on th8 foundations laid dun'ng our 40th anniversary year. Strategic fundBising will be key to this work. We will seek to grcmhr our grant funding portFolio, deepen donor relationships, and pursue new opportunities across individual, corporate and community giving. We will al30 continue to advocate for fair statutory funding, as part of our wider work with national partners and policyrnakers. Our retail operation will also play an important role in supporting future seNic8 delivery. We will work to maximise thé potential of our new Colchester Avenue superstore. while continuing to adapt our local shops to b8St rneet community needs. Volunteer engagement and environmantal responsibility will remain at th@ heart of our ret8il activities. As a team, w8 will continu8 investing in our people. Supporting staff well-being, nurturing leadership and fostering collaboration will be central to our approeKh. Together, these plans w'll help us build a sustainable future, that ensures CILY Hospice remains a vital, responsive and compassionate presence for the people of Cardiff for many years to come. 13 7. STRUCTURE, GOVERNANCEAND MANAGEMENT a. Gov6rning document The George Thomas Memorial Trust was registered as a charity on 30th June 1983 and Inco￿orated as a company limited by guarantee on 7th October 1991, The change of name to The City Hospice Trust Limited was registered at Companies Hous& on 20 June 2017 and approved by the Charity Commission on 7 September 2017. During 2024125 the charity benefiled from th& patronage of His Royal Highness the Prince of Wales, now His Royal Highness King Charles 111,. a President and nine Vice Pr8sidents. We greatly value Ihe work of the holders of these offices and thank them for Iheir splendid support which forms a most important link with the community we serve, b. Appointment of trustees As set out in the Articles of Association, the number of trustees (members of th8 charity) shall nol be less than 6, or more than 15. The Articles also provide for a regular rotation of members on an annual basis. which ensures that collectively there is a broad range Df skills and experience at the charity's disposal. Recruitment 18 carried out in accordance with our governing d￿Ument and statutory requirements and are carried out by public advertisement. We expect our truste8S to bring time, understanding and effort to the rol8 of governance. Their various skills embrace governance, Strateg￿ planning, p&rformanc& management, cotnplianc8, financ8, estates, accountability and creating ov8rarching policies and 8tandards. c. Trusfee Induction and training New trustees undergo orientation to brief them on their legal obligations under charity and company law, Charity Commission guidanc8 and the contenl of the Memorandum and Articl8s of Association. Trustees ar8 also encouraged to attend appropriate extemal training events wherethese facilitate th8 understanding ofth8ir rol8. d. Organisation The Board of Trustees adminislers the charty. The Board usually meets every 3 months and is supported by the following sub-committees.. Finance, Risk, Audit & Investment Committee Clinical Governance Committee Income Oversight Committee HR Committee The Committees meet b6tW89n 4 and 6 times a year and report on their work to the Board. A Chief Executive is appoint8d by the trustees to manage the day-to-day op6tations of the charity and has delegated aLrthority within a scheme of delegation approved by the trustees for operational matters. The Chief Executive is supported by the Senior Leadership Team, which includes, the Clinical Director and consultant in palliative medicine in respect of all clinical and patient orientated Services, and the Finance and Commercial Director, who is also the Depuly CEO, HR and Organisational Develcpment Manager and Fundraising and Marketing Director. 14 e. Pay pollcy for senlor staff staff salaries are reviewed each year by the Remuneration Committ￿. In reaching their decisions, Trustees also take into account any annual pay awards made by the National Hea]th Service {NHS). f. Related parties and co-operation with othor oryanisations The trustees consider that the Board of Trustee5 (made up of the Trusys truslees), and the senior leadership team (made up of the Chief Executive, the Clinical Director. Finance & Commercial Director, HR & Organisational Development Manager and Fundraising & Marketlng Direclorl, comprise the key management personnel of the charity in charge of direcling and controlling, running and operating the Trust on a day-to-day basis. Any connection between a trustee or senior manager of the charity with a SPDnsor, donor or suppli8r to th8 charity must b8 disclosed to the full Board ofTrust6es in the sameway as any other contractual r8lationship wtth a related party. No related party transactions were reported. All trustees give of their time freely and no trustee received remuneration in the year, allhough in some instanGes, trav81 expenses can be paid. No trustee expenses were, however, incurred in 2024125. 15 8. REFERENCE AND ADMINISTRATIVE DETAILS Charity numbér: Company number R8gist8red Office.. 1023811 02651828 T9 Hosbis, Whilchurch Hospital Ground8, Park Road Cardiff CF14 7BQ Our advisers: Auditors HSJ Accountsnts LTD. Bankers Uoyds Bank Solicitors Eversheds, Cardiff Investment managers Brewin Dolphin Patron: HRH King Char18s111 Presldent: Captain Sir Norman Lloyd Edwards Vice Pr88idents: Dr Mike Bloomfield Baroness Ikira Finlay of Llandaff Mr Graham Hinchey Mrs Anne Hinchey Mr Robert Hodge Mrs Morfydd Meredith HM Lord-Lieut8nant of South Glamorgan Th8 Most Reverend Dr Barry Morgan Mrs Margaret Pritchard MBE Rabbi Michoel Rose, Cardiff United Synagogue Key management personnel: trustees and directors (as at 31 March 2025) Chair: Vice Chair.. Company S8cretary'. Treasurer.. Mr Michael Baker Mr Gerald Puttock Mr Andrew Burns Mr John Dwight Trustees: Mrs. Hannah Bates Dr Diana Evans Mrs. Amy Hill Mrs. Emma James Mrs. Dorothy Johnson Dr Clifford Jones Dr Elinor Knapp 16 Mrs. Its McNeil-Jones Mr. Maurice Prendergast Mr. Richard Thomas Ms. Susan Toner Key management personnel: officers Chief Executive.. Clinical Director & Consuttant in Palliative Medicine: Finance & Commarcial Director l Deputy CEO: Interim Financ6 Director: Fundraising & Mark8ting Director. Head Murse.. HR & Organisational Development Manager.. Dr Liz Booyse Dr Margred Capel Miranda McGinn (resigned December 20251 Tracey Marsh (started December 2025) Amanda Fenton Terri Gazi Sian Jones Declarations The trustées d8clar6 that they have approved the trustees, report above, Signed on b8half of the charity's trustees: Signature.. Name.. Position.. Date. Michael Bak8r Chair 17 Trustees. responslbllllies In relatlon to the flnanclal statements The trustees, who ar8 also th& directors of The City Hospice Trust Limited for the purpose of company law, ar8 responsible for preparing the Trust8es' Report and the financial statements in accordanc8 with applicable law and United Kingdom Accounting Standards (United Kingdom Gen&raily Accepted Accounting Practice). Company Law requires the trustees to prepare financial statem6nts for 8ach financial year which give a tru8 and fair view of the state of affairs of the oharty and of the incoming resources and application of resources, including the income and expenditure, of the chsritable company for that year. In preparing these financial statements, the trustees are required to: 86lact suitable accounting policies and then apply them consistentty; observe the methods and principles in the Charities SORP; make judgements and estirnates that are reasonable and prudent, prepare the financial slat8m8nts on the going concern basis unless it is inappropriat8 to pr8sume th8t the charity will continue in operation. The trustees are responsible fer keeping adequate accounting records that disclose with reasonable accuracy at any tim8 the financial position ofthe charity and enable them tc ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charty and hence for taking reasonable steps for the pr8V8ntion and detection of fraud and other irregulariti8S. The trustees are responsible forthe maintenanc8 and integrty of the charity and financial information included an the charily's website. Legislation in the United Kingdom governing the preparation and dissemination of finanGial statements may differ from legislation in other jurisdictions. By order of the Council (the Board of trustees) M Baker {Chair) 7r Date of approval of the report and financial statements: 18 Audlt Re ort Opinion We have audited the financi81 statements ofThe City Hospice (the 'charity') for the year ended 31 March 2025 which comprise the statem&nt of financial activities, th8 balance sheet, the statement of cash flows and the notes tothe financial statements, including a summary ofsignificant accounting policies. Thefinancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {Unit6d Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements -give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended., -have been properly prepared in accordance with Uniled Kingdom Generally AG¢epted Accounting Practice,, and -hav& been prepared in accordance wilh the requirements of the Companiés Act 200S, Basls for oplnion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities und8r 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 charity in accordance wilh the ethical requirements that are relevant to our aud1( of the financial statements in Ihe UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide basis for our opinion. Conclusions relating to going concern In auditing the financial statement8. we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on Ihe work we have perfomied, we have not identrfied any material uncertainties r81ating to events or conditions that. individually or colleclivety, may cast significant doubt on the charty's abilty to continue as going concem for a p8riod of at least ￿e1ve months from when the financial statements are 8Uthorised for Issue. Our responsibilities and the responsibilities of the trustees with respecl to going concern are described in the relevant sections of this report. other informatlon The other information comprisas the information includéd in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained wtthin the annual report. Our opinion on the financial statements does not cover the other infomiation and we do not expr88s any form of assurance conclusion thereon. Our re8ponsibilily is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in Ihe course of the audit, or otheNise appears to be malerially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detèrmine wh8th8rthis gives rise to a malerial misstatement in the financial statements thems8lves. If, based on the work w8 hav8 performed, we concludethatthere is a malerial misstatement ofthis othér information, we ar8 required to report that fact. We have nothing to report in this r8gard. 19 Matters on which we arg requlred io report by exception We have nothing to report in respect of the following matters in relation to which the Gharities (Accounts and Reports) R8gulations 2008 require us to report to you if, in our opinion.. -the information given in th8 financial statements is inconsistent in any material respect with th8 trustees, r8port', Dr -5ufficient accounting records hav@ not been kept,. or -the financial statements are not in agreement with th8 accounting records., or -we have not received all the inft)miatiDn and explanations we require for our audit. Responsibllitios of trustees As explain6d mor8 fully in the statement of trust86s' responsibilities, the trustees, who are also the directors of the charity for th8 purpose of company law, are responsible for the preparation of the financial stalem&nts and for being satisfied that they give a tru8 and fairview, and for such internal control as the truste8s det8rmine is necessary to enable the preparation of financial stat8m8nts that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing tha Charity's abilty to continue as a going concern, disclosing, as applicable, matters related to going concern and using th8 going concern basis of accounting unless the trustees either intend lo liquidate the charitable company or to ceas8 operations, or have no realistic alternative but to do so. Auditor'8 r8spon8ibilrtie5 for Ihe audit of th8 financial statements We have been appointed as auditor under section 144 of the Charitl8s Act 2011 and report in accordanc8 wilh the Act and relevant regulations made or having effect th6r8under. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditoffs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantse that an audit conducted in 8ccord8nc8 with ISAS (UK) will always d8t8Ct a mat8rial misstatement when it exists. Misstatements can arise from fraud or error and ar8J considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decision8 of us8rs taken on th8 basis of th8S8 financial statements. A further descriplion of our Esponsibilities is available on the Financial Reporling Council's website at: https:IIwv4w.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. Extent to which the audit wa8 consldered capable of detectlng irregularltles, Includlng fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. W8 design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website. to detect material misstatements in respect of irr8gularities, including fraud. We obtain and update our understanding of the enlily, its activities, its control environment, and likely future developm8nts, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of Ihe financial statements, whether due to fraud or error, design and perform audit procedur&s responsive to those ri8ks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes conBideration of the risk of acts by th8 &ntity that W6re contrary to applicable lawws and regulations, including fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we d&signed proc8dures which included: .Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleg8d fraud., .Reviewing mTnul8s of m8etings of Ihose charged with governance; .A5sessing the extent of complianGe with the law8 and regulations Considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection,. 20 .Reviewing flnancial stalement disclosures and testing to supporting d￿uMentatIon to assess compliance with applicable laws and regulaiions. .Performing audit work ov8r the risk of managemant bias and override of Gontrols, including testing of journal entries and other adjustm8nts for appropriateness, evaluating the buBiness rationale of significant transaction8 outside the normal course of business and reviewing acccunting estimates for indicators of potential bla8. Because of the inherent limitations of an audit, there is a rlsk thal we will not detect all irregulariti68, including those leading lo a material misstatement in the financial statements or non-complian￿ with regulation. This risk increases the more that compliance with a law or regulation is removed from th8 events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is hlgher than for cne re8ulting from error, as fraud may involve collusion, fcrgery, intentional omissions, misrepresentations, ¢r the overrlde of internal control. Use of our report This report is made solely to the charty's trustees, as a body, in accordanc8 With part 4 of the Charit18S (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charity's trustees those matlers we are required to slate to them in an auditcrs, report and for no olher purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and e charity's trustees as a body, for our audit work, for Ihis report, or for th8 opinion8 W8 have formed J Audlt Llmiled Chartered Accountants statutory Auditors Severn House Hazell Drive Newport NP10 8FY 21 THE CITY HOSPICE TRUST LIMrrED INAN IALA vi IES FOR THE YEAR ENDED 31 MARCH 2025 Full comparative Statem8nt of Financial Activi93 for the prior yoar is Included af the back of tho flnancial 3tatements UnreBtrlct8d Fund5 Ro5tr1 Undesl nat8 Donaflon8 andlagacl88 569,101 181.952 751,Q53 558,934 Ingomlng from vharltable o¢*fviir Operation ol Hospi￿ care 1,497,487 101267 1,602,754 1,430,489 ¢omlng from olhertrèdlng•¢tlvftl•s OtherTradingAcAivili88 Gr088 8hop S*s 387,389 395,703 367.3B9 395,703 330,607 361,797 lnv8Bfn￿nt irKont8 71,8LII Y1,801 62,942 otherlncon 10,8D2 10,B02 13,924 Total 2,912,283 287,219 4199,502 2,758,70 Ralslng funds C08ts of ruming 8hop8 FLmdraislng & voluntary irKome 388,402 529,106 917,BO8 105A57 S3￿55 158A12 493.759 S82.161 1,075.920 343,687 454.592 798.279 ChaAitabl8 activiti85 H¢spic8 care 1180,482 27.829 288.219 2.496,530 2.327.090 Total D97,99 186341 288319 3,571450 3,128,268 Net (kn5llgain50n inve5tmEnt 14639 4,639} 42,2fj8 t l&xp6ndltUYg1 1190.3461 1186.2411 1377.587} 1325,2991 Translers betweerj lunds N61 movemenl In funds 17 456,23D 26S.884 13,770 1470,0001 1172,471} 1471,000} 1377.5871 1825,29PI R8concJllatlon of fund8 Total funds bro￿htf0N&rd 1,233.090 1 J3S,$28 IN8B,985 425S,603 4,580,gD1 Total fundB caTrled forward 1,498,974 1 J61,057 1.017,985 3.878,016 4,266,602 siaternenl ol flnancial acbvltles includes al gakns and Ic6ses reccgnlsed In t￿Year. All income and ¥AFendilure derive from conlinLing activitie& 22 THE CITY HOSPICE TRUST LIMITED COMPANY NO: CHARrrY NO: 2651828 1023314 Mot FIXED A88ETS Tangible assets Investments Tofal fJxgda&sets 2,067,658 826.901 2,894.559 1,987,922 1 306.328 3,294,250 CURRENT ASSETS Debtors Stock Cash In hand 8NJ bank Tot&1 cunent assets 605,801 967 867 386 1A74,154 568.551 13 853,861 1,422,412 LIABILrriES Crodltors . amovnt$ falllng due wlthln one year 11 429,573 399.936 NET CURRENT ASSErs 1,044581 1,022,478 TOTAL A&8Efs LE&8 CURREMT LIABILITIES ProvlslDns for liabilltl8S 14 61,124 61,124 TOTAL ASSETS 3,878,016 4,255,602 Unrastrlctèd funds General Reserves D&signalBd funds 17.1 17.6 1A98,974 1.361,057 1.233.090 1533.528 2,860,031 1.017,985 2,766.617 1,488.985 Rg¥trlctgd funds 17.3 Total Funds 3 878 016 4 255 602 Forthe financial year in question the company wa8 6ntilled lo exemption under section 477 of the Companies Act 2006 relating lo small cornpanies. No members have required Ihe company lo obtain an audit of 118 acoounts for Ihe year In quesllon8 in accordance wilh Section 476 of I1￿ Companie8 Act 20￿. The directors acknowledge Iheir responslbllity for complying VAth the requirernents of the Acl ￿th r88pect to accountlng record8 and for the preperalion of acounts. These accounts have been prepared in accordance with the Provisions applicable to companles sublecl lo Ihe small L%Jmpanles rogime. The notes fomi part of these financial statements Shjned Mr M Baker, Chair of Irusts8s, on behalf of the tNslee8 Mr J D￿ght, Treasurer Approved by the Iruslea8 on ....,...., 23 THE CITY HOSPICE TRUST LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 Notes 2025 2024 Cash flows from operating activitigs Cash operating activities 20.1 1420,171} 1778,981) Cash flows from Invosllng actlvltlos Interest received 71,801 62,942 Proceeds on disposal of inve8tment8 604090 485.028 Purchase of Investhienls (133,314) (482,897) Purchase of tangible fixed assets (112,893) (32.504) Nel cash from investing a¢tivrties 429 684 Increase In Cash and &ish equlvalents In the year 9,513 (746,412) Cash and cash oqulvalents at the b8glnnlng of the year 20.2 866,457 1,612,869 Total cash and cash 8quivalentB at the end of 20.2 the year 875,970 886,457 24 THE CITY HOSPICE TRUST LIMITED NOTES TO THE ACCOUNTS Charfty information The City Hospice Trust Limited is a private company limited by guar8nt6e incorporated in England and Wales. The registered office is Ty Hosbi8, Whilchurch Hospital Grounds, Park Road, Whitchurch, Cardiff, Wales, CF14 7BF. Note 1- Basls of preparation 1.1 Basls of accountlng The financlal statements have been prepared in accordance with the charity's governing documenl, the Companies Act 2008 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland (FRS 102)" (as amended for accounting periods comm8ncing from 1 January 2019). Th8 charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statement8 have been prepared under the historical cost ¢onv8ntion. The principal accounting policies adopted are set out beS0w. 1.2 Going concern Our funding from Cardiff & Vale University Health Board is now subject to a new three year agreement starting in April 2022, Th8 charity reported a d8ficit for the year, in line with our original budget for the year and which we planned to fund from reseNe8. Our year-end reserves remain above the Trustees reserves policy. The trustees are therefore of the view, and as expressed in the trustees report. that the charity is a going con￿rn and the financial statements have been prepared on that basis. 1.3 Chango in accounting pollcy No changes to accounting policy have occurred in the reporting period. This has not resulted in any adjustments to prior year financial statements. 1.4 Changes to accounting estlmales No changes to accounting estimates have occurred in the reporting period. 25 THE CITY HOSPICE TRUST LIMITED NOTES TO THE ACCOUNTS Not8 1- Basls of preparatlon (continued) 1.5 Charltable funds Unrestricted funds are available ft)r use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been de8ignated for other purposes. Designated funds comprise funds which have been set aside at the discretion of thé trustees for specific purposes. The purposes and uses of th6 designated funds are set out in the noles to the financial statements. Restricted funds are subject lo specrfic conditions by donor8 as to how they may be used. The purposes and uses of r8Stict8d funds are S@t out in the notes to the financial statements. 26 THE CITY HOSPICE TRUST LIMITED NOTES TO THE ACCOUNTS Note 2 - Accounting policies Incoming resources Income is recognised when the charity is legalty entitled to it afler any perfomiance conditions have been met,the amounts can be measured reliably, and it is probable that the income will be received. Cash donations ar8 r&cognissd on rÉ¢aipt. other donations are reC￿nISed onc8 the charity has been nolified of the donation, unless performance conditions requiré deferral of the amount. Income tax recoverable in relation to donations received under Gfft Aid or deeds of covenant 18 recognised at the time of the donation. Legacie5 are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and ￿ceipt is expect8d. If the amount is not known, the Segacy is treated as a contingent asset. Grants are only included in the Statement of Financial Activities when the g8n6ral income recognition criteria are met. In the case of performance related grants, income must only be reGognised to th8 extent that th8 charity has provided the sp8cified goods or services as entitlement to the grant only occurs when the perfonnance relat8d conditio)ns are met. Where the performance related conditions have not been met the income is deferred. Capital grants are released lo the Statement of Financial Activities in the year of receipt. Fixed assets relating to capital grants are capitalised, and depreciation charged is offset againt the grant income, in a restricted fund. Clothing and other items donaled for resale through the charitls shops are included as incoming resources within the activities for generating funds when they are sold. Donated professional services and donated facilities are recognised as income when the charily has control over th8 It8m, any conditions associated with the donated il8m have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charrf(ies SORP IFRS 102). the general volunte8r time 18 not recogni88d and refer to the trustees, annual report for more infomiation about their contribution. Qn receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount th8 charity would hav8 been willing to pay to obtain services or facilities of equivalent economic benefit on the open matket; a corresponding amount is Ihen recognised in expenditure in the period of receipt. Fundraising income is recognised when the event takes place. The valu6 of any voluntary help received is not included in the accounts but is d8scribed in the trustees, annual report. Incom8 from interest and dividends is included in the financial statements when receipt is probable and the amount receivable can be measured reliably. Turnover is measured at the fair value of the consideration recewed or receivable and repr8S8nts amounts reGeivable for goods and serviGes provided in the normal course of business, net of discounts, VAT and other sales related taxes. 27 THE CITY HOSPICE TRUST LIMITED NOTES TO THE ACCOUNTS Note 2 - Accountlng pollcies (contlnued) 2.2 Resources expended Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, il is probable that settlement will be required and the amount of the obligation can be measured reliably. Exp8nditur8 is classrfied under the following activity headings.. Costs of raising funds comprise of direct costs a$s￿l8ted with attracting grants and fundraising income, being the proportion of time spent for direct headcount costs Charitabl8 8XP8nditure compri8e8 the costs inCu￿ed by the charily in the d81iv8ry of its activiti8s, being both costs directly altributable and indirect support costs • Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 2.3 Governance and Support costs Support costs have be￿ allocal8d b8tween gov8rnanc@ costs 8nd other support. Gov8rnanc8 Costs Gomprise all costs involving public accountability of the charity and its compliance with regulation and good practi￿. Support costs include central functions and hav8 b88n allocated to activity cost categories on a basis consistent with the us8 of resources. Property costs by floor areas, Staff costs per capita (based on hours worked) and other costs by their usage. Repairs and renewals to rented properties are NVTilten off in the period in which they are incurred. 2.4 Tangible fixed assets Tangible fixed assels are initially measured at cost and subsequently measured at cost or valu8tion, net of depreciation and any impairment losses. These are capitalised rf th8y C8n be used for more than one year, and cost at least £2,500. Depreciation is recognised so as to write off the cost or valution of assèts less their residual values over their useful lives on the following bases.. Land No depr8ciation Buildings 2 % straight lin8 on Driginal cost 100/0 Straight line on components relaling to second floor conversion. hearing loops, solar panels and boiler. 100/0 Straight line 20 % straight line 25% r￿UcIng balance 33 /trStraight line Office equipment Medical and other equipment Mini bus and van Computer 6quipment Th8 gain or loss arising on the disposal of an ass8t is determined a8 the difference be￿een the sale proceeds and the carrying value of the asset, and is recognised in nel incomelexpenditure for the year. 28 THE CITY HOSPICE TRUST LIMITED NOTES TO THEACCOUNTS Note 2 - Accountlng pollcles (contlnued) 2.5 Flxed asset Investments Fixed asset inv8stm8nts are initially measured at transaction price excluding transaction costs, and ar8 subsequently measured at fair value at each reporting date. Chang8$ in fair value are r6cognised in net incomelexpenditure for the year. Transaclion costs are expensèd as incurred. 2.6 Stocks stocks are stated at th8 lower of cost and estimated selling price less costs to complete and sell. Net realisable value is estimated selling price less all estimated costs of completion and costs to be incurred in marketlng, selling and distribution. 2.7 Cash and cash equivalents Cash and cash 8quivalents include cash in hand, deposits held at call with banks, Oth8r short- tenm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdfafts are shown within borrowings in current liabilities. 2.8 Financlal Instrumants The charity has 818Ct8d to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all ts financial instruments. Financial instruments are recognised in the charit￿5 balance sheet when the chsriLy becomes party to the contractual provisions of the instrument. Financial assets and liabilities are oftset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to sett16 on a net basis or to realise Ihe asset and s8tt18 the liabilty simultaneously. 2.9 Baslc flnanclal assets Basic financial assets, which included debtors and cash and bank balanpEs, are initially measured at tr8n8action price including transaction costs. Financial assets classified as receivable within one year are not amortised. Where amortisation is appropriate, subsequent carrying values are amortiscfl using the eff8Ctive interest method un18SS the arrangement constitute8 a financing transaclion, where the transaction is m&asured at the present value of the future receipts discounted al a market rate of intsrest. Derecognltlon of financial assets Financi81 assets are derecognised onty when th8 contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or rf some significant risks and rewards of Own8￿hlP ar8 retained but control of the asset has transferred to another paty that is able to sell the asset in its entirety to an unrelated third party 29 THE CITY HOSPICE TRUST LIMITED NOTES TO THE ACCOUNTS Note 2 . Accounting policies (continued) 2.10 Basic flnancial liabilities Basic financial liabilities, Including creditors and bank loans are initially recognised at Derecognltlon of flnanclal liabilities Financial liabilities are derecognised wh8n th8 charity's contractual obligations 8xpire or are discharged or cance118d 2.11 Employee benefits The Costs of short-t&rm employee benefits are recognlsed as a Ilablllty and an expense, unless those costs are required to be recognised as parl of the cost of stock or fixed assets. The Cost of any unused holiday entiuement Is recognlsed In the perfod In whlch the employee's services are received. 2.12 Termination ben8fifs Termination benefits are recognlsed immediately as an expense when the charity is demonstrably committed to terminate the employm8nt of an 8mploye8 or to provide termlnatlon benefrts. 2.13 Retirernent benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due 2.14 Leases Rental charges are charged on a straight line basis over the term of the lease. 2.15 Taxation As a r8gislered charity, The Clty Hospi￿ Trust Limited is entitled to the exerrption from taxation in respect of income and capital gains received ￿th sections 478489 of the Corporation Tax Act 2010 and seclion 258 of the Taxation of Chargeable Gains Act 19S2 to the extent that these ar& applied to its charitable objects purposes only. 30 THE CITY HOSPICE TRUST LIMITED NOTES TO THE ACCOUNTS Note 2 - Accountlng pollcles {contlnued) 2.16 Deferred income Income received in advanc8 is accounted for as a liability and shown on the balance sheet as deferred incom8. D8f8rred income is released to income in the reporting period in which th& performance related or other conditions that limit recognition are mat, 2.17 Provlslons Provisions are r8cognis8d wh8n the charty has a legal or constructiv@ present obligation as a result of a past event, it is probable that the charily will be r8quir8d to seltle that obligation and a reliable estimate can be made of the amount of the obligation. Provisions for the expected cost of charity shop dilapidations are recconised on inception of the shop lease. at the trustees best estim8te of the expenditure required to settle the charivs obligation. 2.18 Crltlcal accountlng estlmates and judgements In the application of th6 charity's accounting policies. th8 trust88s ar6 required to make judgements. 8Stimates and assumptions about the canying amount of assets and liabiliti8S that are not readily apparent from other sources. The estirnates and associated assumptions are based on historical experience and other factors thal are considered to be relevant. Actual rEsuIts may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basÉs. Rwisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that p8riad, or in the period of th8 r8vision and future periods where the r8vision affects both Qu￿ent and future periods. The estimates and assumptions which have a significant risk of causing a material adjustment lo the carrying amount of assets and liabilities are as follow8- Dilapidotions provision Determining the value of the future dilapidation costs of the charity8 Stx shops requires estimation. The estimation techniquè used by the charity includes the use of quotations for repairs as well as using data from previous settlement transactions. It is unlikely that future costs will be material to the financial statements. The provision can be found in note 14 of the financial stat6m8nts. 31 THE CITY HOSPICE TRUST LIMITED NOTES TO THE ACCOUNTS 3 Analysis of Income Unrestricted Restrlcted Funds Funds Total 2025 Total 2024 3.1 Donatlons, legacles and oth&r incom• Donations from foundation & trusts 163,467 181,952 345,419 181,540 Donations frcln community groups & individuals 261,965 261,965 217,288 Subscriplions 160 160 250 Legaci8S 137,703 137,703 156,269 Retail gift aid 5,806 5,806 3,586 569,101 181.952 751,053 558,934 3.2 Fundralslng Fundraising events 367.389 367,389 330,607 3.3 Grants and other incomlng resources from actlvltlgs to further th8 Charity's objects Unrestricted Restrlcted Funds Funds Total 2025 Total 2024 Cardiff and Vale ULHB End of Life Board Reimbursed expenses Big Loltery Other grants 1,321.526 133,000 21,871 1,321,526 133,000 21,871 105,267 21.090 1.602.754 924.882 133.000 24,010 93,737 255,070 1,430,499 105,267 21,090 1,497,487 105,267 Unrestrlctèd Restricted Funds Funds Total 2025 Total 2024 3.4 Interest recelved and miscellanoous incom? DeposiE interest and Dividend income Other 71,801 10,802 71,801 10,802 62,942 13,924 82,603 82,603 76,865 32 4JJ IY)￿0 Inw) %8 VJ 14 ou rLCq o ocJcJa oo LLrtsL)￿ C>< Detslls of certaln ltsm¥ ofpxpenditurg Fggs pald gxamlnallon of thè accounts 2024 Auditort8 fee8- exlem81 audFtors examlnallon 4,950 8,635 Paid gmployeos 6.1 Staff ¢0818 2025 024 Gross 59larf8$ Social securtty B08ts P8nslon &1Sfe as6urgwe 1,906,J57 1,614.472 198,424 163.721 155813 2,258,7Y4 1.915,841 424.709 2,683.503 2.372,483 Con8ultsntPhy81D expendllurelParamedlc Consultsnt expendlture repre8ents the charge made on the City Ho8pice Tru8t Limit￿1 by Velindre Unfversity NHS Trust in respoct of ourfull Ilm& consuttants and olhar consultant support $6sslons. staff numbers The average number ol employeeB analysgd by funct]on was.. ospice Care Governano6 & adrTblnlslrallon 34 30 64 29.5 22.5 52.0 Staff nwmber The full Ilme 8qulvalBnl numbèr of èMploy88s analysèd by functlon was: Hospice Care GovemaneA & adminislralion 2025 202 30 25 55 24 20 On& omployo6 hgd 8mploy66 ban8fi1s (excluding ernployer pension cost8 in exces8 of £60,000 12024= 21 2025 2024 8and £fjO,00(k£70,000 £70,OD1-£80,(M)O £80,001- £90.Crf Conlribulion5 totalling £4.154 12024.. £7,108) were mad8 to defined contrfbullon penslon schemes on behalf of 6mploye8s whose emoluM8nts axcs6d £60.000. Th8 key management p8rsonnel of the Trust. comprfse the Iruslees and the senlor manag&mtsnt team Ilhe Chief Executive, Ci)nsullanls, Lead Nurse, Flnance & Commercial Diredor, Fundraising & Markellng Dlr8dor, Hogpi¢8 Practice Manager and HR Manager}. The lotsl employee benéfits of the key management personnel of the Trnsl Oncludlng th8 consultan18 employed by Vellndre Unlverslty NHS Trust) was £63328812024.. £643.3851. Thè ehalty operate8 a defined contribution pension scheme for all qualifying employees, although clin0918lalf are gliulble lo tak8 part In lh8 NHS Pension schemts, The assets of th8 delln8d ontribulion scheme are held separately from Ihose of the ch8rfty in an Independently admini51eTed fund. The ch8ig8 lo prolil or loss In respact of th8 panslon schemes was £148,984 {2024: £128,688). Amounts outstand5no al the year end toiallad É34.12012024 £20,232). Durlny ya8r setilemenl payments were made of £27,793 {2024'. £nill. There were no amounls oulstarKlkng at the year end. 34 ) co coco THE CITY HOSPICE TRUST LIMITED NOTES TO HE ACCOUNTS Investment assets Fixed asset Investments 2025 2024 Listed investments Carrying (Fair) Value 1.04.2023 Additions to investments at cost Disposals at carrying value Net gainl(deficit> on revaluation Carrying {Fair) Value 31.03.2024 1,293,732 1,253,596 133,314 482,897 1604090) (485,028) (4,6391 42,268 818,317 1,293,732 Cash In portfollo 8,584 12,596 Tolal investmgnts 826,901 1,306.328 An analysis of the investment portfolio is as follows.. UK equities, UK bonds. propety & cash Over8888 equities & ov8rs8as bonds 52° Stocks 2025 2024 Trading activitigs: Opening Added in period Expensed in period Closing 434 967 434 967 434 38 THE CITY HOSPICE TRU ITED NOTES TO THE ACCOUNTS 10 Debtors and pr8paymentS 2025 2[)24 Amounts due wlthln one yèar Trade debtors Prèpaymants & accrued income VAT refund due 14,590 162.941 563,228 380.480 27,983 25.131 605,801 568.551 11 Credltors and accruals 2025 2024 Amounts dua wlthln one year other taxatlon and soctal security Deferred income Trade creditors Other Greditor5 Accruals 80,478 62,379 180.541 30,333 129,109 122,278 1,522 136,184 37,923 48,763 429,573 399,936 11.1 Def8rred income Deferred income represents income received dunng the year which will be reo)gnised in 2025r26 and relates to incom& towards fundraising events and specifiGally funded projects, to be held in 2025126. Movom&nt In doferrèd income account 2025 2Q24 BalanGe at start ofthe year Amounts added during th& year Amounts released to income from the previDU8 year Balance at the end of the year 30,333 180,541 (30,333) 180,541 715 30,333 {7151 30,333 37 THE CITY HOSPICE TRUST LIMITED NOTES TO THE ACCOUNTS 12 Contingent Ilabllltles and assets The Charity has no contingent liabilities or a55ets af the year end. 13 Cash at bank and in hand 2025 2024 Short t8Tm cash investments (less than 3 months maturity date) Short tenn deposts Cash at bank and on hand 848,826 479.178 322,493 52,190 853,861 18,560 867,386 14 Provlslons pro￿lS1on8 are classif￿d based on the amounts that ar8 expected to b8 settl8d after more than 12 months from the reporting dale, as follows., 2025 2024 Dilapidation provlslon BIF Utilisation of provision Dllapldation provision CJF 61,124 61,124 61,124 61.124 The nature Of the the Charity's actrvities requires it to 8nt8r into18as8 agr86m6nts for various properties. This provision relates ID the managemenys best estimate of costs in respect to the egal obligation the Charity is liable under the terms of each lease. 15 Falr valu8 of a55ets and liabilities 15.1 Exposure to rlsk The charity's exposure to risk Fs as follow5: credit risk (the risk of incurring a loss due to a debtor not paying what is ow8d) 18 low. the value of trade and indmdual debtors carried on the balance sheet is £14,590 (2024.. £162,941). liquidty risk (the risk of not being able to meet short term financial demands) is low market risk (the risk that th8 value of an investment will fall due to change in the mark&l) is significanl at present, given the volatility in stock markets , This risk is managed through regular dialogue with our investment fund managers. 15.2 Chango in falr value Instrum8nts measure at fair value (investments) through profit and loss are £818,317 (2024.. £1,293,733). 38 THE CITY HOSPICE TRUST LIMITED NOTES TO THE ACCOUNTS 16 Events after the end of the reportlng period Th8r& ar6 no evenls after the end of the reporting period that need to be disclosed. 39 TED NOTES TO THEACCOUNTS 17 Charlty fund8 17.1 Analy618 of not assots b•twagn funds for the current rgporting pgriod Flx•d •ss•ts Inv•stm•nts N•t ¢urr•mt as$•ts Provlslon5 Total 1,000,000 17.985 1017,985 nrnstrlctgd funds Dosi T8ngible fjxed a88el8 Capital P￿gramme Future Plgns & Commltrnents 1,06Y,659 1,067,659 20,DQO 273,398 1,361057 1.498,974 20.000 273,398 293.398 733,197 1067 659 826.9)1 161,1241 Total 2￿87.859 828,gD1 1,044,580 61.124 3,878.016 17.2 Analy¥lg of net assets betwogn lund8 for thè prevltsus reportlng perlod Fixed assets Inveslments Nel current assels Provi5ion8 Tolal Reslrlcted funds 1.485.000 23,985 1,488.985 nreslrlcled fund8 T9nglble fixed a880t8 Capital Prouramme Future Pjans & ComrnStments Total daslgnalÉd lundg 522,922 s22,￿22 64,780 945.826 1.533.528 151,1241 1,233,090 64.780 945,626 1.010.806 112,1141 522.922 1,3(￿,328 Total 1,987,922 1,308,328 1,022,478 61,1241 4255,602 40 THE CITY HOSPICE TRUST LIMrrED OTES TO THE ACCOUNTS 17 Charity funds (continued) 17.3 Analy818 of r•Btrlc(ed lundo for th$ ¢urr¢nt reporllng porlod Op#nlnu In¢om¥ Expon8e8 Transfers Closlng balance balance Flx¢d Assets Wèlsh Goverrnm8rrt Big Lottery Fund Revenue Expendlluro End of Llfa B09rd Th6 Craft Gr¥Jup MorrlsonB Foundallon GrourKlworks One Slop The Llnder Foundallon Masonic Chanlable Foumlatiorb Wales Coundl forvountary ActloTr Simon Glbson Charitable Trust Independerrt Age oondance FollndallDn WatertDO Foundation Nallonal Lottery Third S￿{or Fund Shell8 John8ton Hum6 Coop Bank Switch and Save Pobl St J8més Place Foundation The Big Lottery Fund 1,DDQODD 465,000 1,000,OOD 1465,0001 20,160 2,825 15,0001 15,160 2,825 1,000 11,0001 10,646 110,6461 23,342 123.342) 21,664 121.664) e,046 16.0461 40,000 140.LIOOI 11,244 111.244) 11,651 111,6511 16,044 116.0441 11,449 111,4491 2,000 [2,0001 1.000 11.0001 915 19151 25,950 125,950) 105267 10 267 1,488,985 287.218 288,218 470.000 1.017.985 17.4 Ana]ysls of Yestrlctod fund• forthè prevlou8 reportlng perlod Openlng balance Income Expense8 frnnsf8r8 Closlng balance Fixed Assets Welsh GDvthmment Big Lottery Fund Ray6￿u& Exp•ndltur8 End of Llfè Board The Craft Group Morrfsons Foundatton Groundwork8 One Stop Cardlff 3rd S8clor Councll screwr￿ Foumlalion The oakda￿ Tru81 The Caron Keating Foundallon WSP UK Ltd Hosplttè LFK- Linder Hospice UK MCF 2022 Hospltal Saturday Fund Hulm Llille Pot James Tudor F￿ndat￿l￿ St Jam&s Plscè Foulldalion Thè Febtuary Foundatlon Th8 Inlight The Biy Loltery Fund 1,ODO,000 480,000 1,000,000 465.ODO 115,OIM)I 5,436 2,825 16,329 1,000 4.710 67 12761 15.000 20,180 2,825 118,3291 1,000 14,7101 671 4,000 14,0001 2,000 (2,0001 2,500 12,5001 8,566 18,5661 10,413 11 D,4131 2,000 12,0001 2,500 12,5001 16,000 116,0001 2,411 12,4111 5,000 15,0001 5,000 15,0001 93,737 {93,7371 1510 367 154 127 175,509 1,488,985 41 ITED NOTES TO THE ACCOUNTS Charlty funds (continued) 17.5 D8tails of r88triGted funds R•8tr1ctsd funds Wdsh Govemment Pu ose FL4)ding to purchas8 land for the hospice centre In 2￿5, 5ubleGt to clawback arrangament overan 80 year P￿70d. Fundino towards building the hOSp￿e centre in 2005, subject to claknck arngements over a 20 year period. This p￿70d has been completed and the fund8 have released to the designated funds. traMfws1om the Big Loltery fund rel*sto the release of the fundlng from restNt￿ fund based on the Ty Fk)sb18 bu￿[D9 as per at*)ve narratfve under Blg Lottery Fvnd" Blg Lottery Fund Transfers Transfers Qui of the End of Life Board Fund is to ￿rract loo much LEing Ip4nsferred in, In 2023r24. Funding to ensure improved conrEctnn and accessibilty for MlSPlffS wth Can1￿ IT System arKI its everrtu* repkG?TN¢nl. End of Lifè Board The Craft Group Donation re￿Ved for Ihe benefit ofthe users ofthe hospi￿. Gnundwths UK (Orts slop) Items for Garden Room inclLKThng childrens tabth and book dlsplays. Fundlng lo support th& d&velopmenl and Itelfvery of bor88v&mant (x)unsalling g8rvic8s for paopl8 In wlson. A grant to supth the delivery ol timely and expert wella bweffts advk8 for ￿0p1& arxasslng hosplca seivlc8s. A grant to suprx)rt voluntèar d8￿lopmant through Ihè introthcbon ofa new'Know. Grow and Flow trainiw Funding to support the dellvgry of out of hour8 nur￿ng servKes for peorA&vMh Ilfe-llrnltlng conditions and terrninal IllnèssÈ5. Th6 Under FoMdatb)n M8sonlc CharKable Foundation Wales c￿lne11 for Voluntary Arlion Slrnon Glbson Chgrtt8ble Trwl In(kperKlentAge Multpyear fU￿ling to r￿lUCe the risk ol financiaj detriment Ihrwgh maklng116a8ler forothr peoplo to acces8 weKare beneffts support. FLmding to enable Ihg development and delivery of day pica and wellbelw Serwices frx pw)le ¥Mlh life-limlllng arKI lermlnal Imnos M￿ndance Foundation Walwloo Foundatknn Funding to Support d8velopment a￿1 deiivery o* Servic&8 lo support rsrèrs InclLKllng vth6n carfng ￿)MeS to an eMI. A grant to an8tA8 thè d8vèlopm8nt of g￿VIc￿ to support carers of people fwing with liftrlimitiro illnesses. A grant lo purthase items inclLMfirvJ Indo￿ and outdoor furniture to irKregse access lo our day hospice environment and ardons foroul liènts. Funding for'kits for care. prtsviding essentigj equIp￿nt for doctor4 nurse4 and param￿lIC8 supy)rt¥ig al home. NaOonal Lotterw Awards All Third Sector Fund sh￿la Johnston Hulm Coop Bank S￿l¢h ard Savg FL￿dIng to sw>port Chrtstmss w&nts and ￿t￿ltIeS for patients allending day hospice and their families. A grant for 8mall116ms of equlpmenl for day hosplce, Includlng crockery. A grant lo suwort Our,&￿1¥ proje¢l and paramedlc Se￿1 reducing the waltiwd Yme for people needing urgent help and sUp[￿t at home. A mulli-year grant tr> enable the development arKI delivery of bereavement care support across Car(liff. Pobl St Jrn pla￿ F￿nd￿tK)n Nation81 Lollory Large People and Places Gr9nt 42 ED ARCH 2025 17 Charlty funds {contlnued) 17.6 An8lysl$ of de8lgnatgd fund5 forthfr current rgportlng porlod At Aprll 2024 Al March 2025 Incomo Expendlture Trnn$fers Capitsl Programme Future Plans & Commitmen18 Tangible fixed asset fund 64,780 945,826 522.922 1533 528 (13,178) 131,602) 20,000 1173,063) 1499,365} 273,398 544,737 1.067,659 13.770 1.361,057 186,241 17.7 Analys18 of deslgnoted fund8 for thè pr8vlou8 r81)ortlng perlod AtApril 2023 Al March 2024 Incom8 Exp&ndiiur6 Transfer5 Capital Programme Future Plans & CoMmiknent8 Tangible fixed asset fund 106,500 561,500 502 871 1170 871 (20,6181 121,1021 64,780 {35,9111 420,237 945,826 20,051 522,922 419,188 1,533,528 The tangible fixed a5sel fund represents th8 inv88tm8nt in fixed assets for use by the charity. The Capital Programme aTrd Futu￿ Plans & Commitments designated funds represent cos15 sel a8ide to ensure our buil¢Jing5 arvj other assel$, and our servi￿ provision arrangements are sufficient lo meet an anticipated in¢rea5e in ¢Jemand. D8signat8d fijnds comprlse funds ￿1¢h have been set aslde at the dlscrellon of the trustges for specific purposes. Transf￿3 out of the Capital Programme fund have been made, ensuring that suffiaenl funds remain to maintain the Ty Hosbi$ building. Transfers out of the Future P5ans & Commitments fund h9ve been made 18aving sufficient fun(fs to enhance our servic8s and patient exper(ence. Transfers into the Tangible fixed assel fund relate to the release of reslricled funding in line with the grant conditions for the Big Lottery Fund. 43 THE CITY HOSPICE TRUST LIMI ED NOTES ON THE ACCOUNTS- 31 MARCH 2025 18 Obligations under18ases At 31 March 2025, the company had annual commitments under non-cancellable operating leases as set out below,. 2025 2024 Land and Bulldlngs Land and Buildings Operating leases which expire: Du8 in oné year B8tW88n two to five years More than 5 years 60,000 77,931 28,365 58,233 19 Transactions with trustses and related party 19.1 Trusta8 remuneratlon, beneflts and expenses The charity trustees were not paid or received any other benefits from the Tru8t12024'. £nil). No trustees were reimbursed for travel expenses during the year (2024: £nil). No charity trustee received payment for prof8ssional or oth&r s8rviGes supplied to the charity <2024= £nil)- 19.2 Tran8actions with relatgd partigs There are no related party transactions or outstanding balances wilh related parties, 44 THE CITY HOSPICE TRUST LIMITED NOTES TO THE ACCOUNTS 20 Notes to the cashflow statemenl 20.1 Reconclllatlon of deficit to ￿sh flow from operatlng actlvities 2025 2024 (Deficlt) for the y&ar Add bad( depreciation charg8 Deduct interest income shown in investing aclivities Decreasel(Increase) in listed investments (Incr8ase)IDecrease in stock (InGrease) in debtors Increasel(Decrease} in creditors Increasel(Decr8ase) in provisions Cash gon9ratgd from operatlons 1377,586) 33,156 (71,801) (325.299> 32,889 (62,942) 4,639 (967) (37,25D) 29,638 (42,288) 434 (337,128) (44,667) 420,171 778,981 20.2 Cash and Cash Equivalent8 The amounts disclosed on the Cash Flow Statement in respecl of cash and cash equivalents are in respect of th8S8 balance sh8et amounts.. 2025 2024 Year ended 31st March 2025 Cash and cash equivalents {include8 investment cash in PDrtfolio) 875,969 866,457 2024 2023 Year 8nded 31st March 2024 Cash and cash equivalents (includes investment cash in portfolio) 866,457 1,612,869 20.3 Anaty5is of changes in net debt The charity had no net debt during the year. 45 THE CITY HOSPICE TRUST LIMITED FULL COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE PRIOR YEAR 31 MARCH 2024 EAR ENDED Not98 UDre8trlctad Funds Restrfctsd Totals Unde51 notod D•$1 Funds 2024 Incom• Donatlons and legacigs 498.544 80,390 558,934 Incomlng from tth&rltsbJg adlvltles Operatlon of Hosplce care 1,336,762 93,737 1.430,499 In￿mIng from othertradlng Aetfvltle Other Tradlng Acllvllles Gross Shop Sal&s 330.607 1.797 330,607 381,797 Investm6nl InGomg 62,D42 62.942 Ofherlncome 13.924 13,924 Total 2,604,576 154.127 2,758.701 Ex enditure on Ralslng funds G051s of running shop8 Fund￿l$l￿g & volun18ry income 316.792 449.493 766.286 28,894 5.099 31.993 343,687 454.5W2 798.279 Charitable activityes Hospice care 2,127.944 24,536 17S,509 2.327,9 Total 2.894.230 66.529 175.509 3,128.268 Nel gains on investment 13 42.268 42,268 Net expendilure (247.3B7) 156.F29) 121,382) 1325.2991 Tran8fgr8 betwaen fLThIs Net movernent in funds 15 {419.186) (666.573} 419,186 362,657 121,3821 (325.2991 Raconclllatlon of fund8 Total funds brought forward 1,899,863 1,170.871 1.510,387 4,580.901 Total fund$ corrled forward 1,233.090 1,533,528 1.488,985 4.255,602 46