Forest Holme Hospice Charity Annual Report and Financial Statements Year Ended 31 March 2024 Charity registration number: 1038021
Forest Holme Hospice Charity Contents Trustees. Report 1 to7 Reference and Administrative Details Statement of Trustees, Responsibilities Independent Auditors. Report 9t012 Statement of Financial Activities 13to14 Balance Sheet 15 Cash Flow Slalement 16 Notes to the Financial Statements 171027
Forest Holme Hospice Charity Trustees, Report Reference and Administrative Details Trustees Angle Smith, Chair of Trustees Rosemary Lewis, Treasurer and Vice-chair Lynn Cherrett Lavina Clarke Lewis Hamm Karen Johnson Dr. Beverly Lee Charlotte Lilley Richard Macmillan Carla Hobby (Appointed 161h May 2024) Senior Management I Leadership Team Hannah O'Hare. Chief Executive Paul Tucker, Communications Manager Sara Fripp. Fundraising Manager Joanne King, Financial Controller Charity Registration Number 1038021 Principal Office Forest Holme Hospice Charity 5 Seldown Road Poole Dorset BH15 1TS Auditor PKF Francis Clark LLP Chartered Accountants Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW Solicitors Coles Millers Solicitors LLP 4446 Parkstone Road Poole Dorset BH15 2PG Page 1
Forest Holme Hospice Charity Trustees, Report The Chair's Welcome On behalf of Forest Holme Hospice Charity. l extend a warni welcome to our annual report. It is with great pleasure that I present our achievements and the impact we have made over the past year. We are deeply grateful for the trust you have placed in us to make a difference in the lives of those affected by life-limiling illnesses and bereavement. The support from local businesses. community groups, and individuals has been both encouraging and heartwarming. Thanks to your generous contributions. we have been able to adapt and continue investing in the vital care our community relies on. This year, the Charity's income from fundraising and investment returns was £1,221k, while our expenditure was £1,320k. These funds were essential in making a lasting impact on our patients, their families, and the staff at Forest Holme. In 2023124, we allocated £111k towards counselling support, ensuring our care extends into bereavement. We continued lo offer complementary therapy treatments for cancer and palliative care patients, and our team was highly commended at the recent Great British Care Awards. Additionally. £29k was dedicated to supporting patients with Motor Neurone Disease, a debilitaling and progressive illness. We also funded key roles on the inpatient ward and invested £47k in nurse training and development to maintain the highest level of palliative care skills for Ihe future. Our most significant achievement was completing an intemal refurbishment of Forest Holme Hospi. This project, costing £428k, has made a noticeable dtfference to patients, visitors, and slaff. As part of the refurbishment, we installed two patient hoists, added en-suites lo the multi-bedded bays, and completed an internal redecoration of the hospice. New equipmenl was also purchased. including multi- functional chair beds. a complementary therapy couch, riser-recliner chairs, and dining room furniture. As we move forward, we remain committed to improving the lives of those affected by lrfe-limiting illnesses and bereavement. With your continued support, we will strive to make an even greater impact in the years to come. Once again, l extend my deepest gratitude to each and every one of you. Your compassion and generosity have made a real dtfference in the lives of those we serve. Together, we can continue lo provide the care and support that our community needs. Sincerely, Angle Smith Chair Page 2
Forest Holme Hospice Charity Trustees, Report Our Vision is for every adult in our community affected by a potentially lrfe limiting illness to have equal access to the support and service they need. whenever and wherever they are. in order to enhance their quality of life. Our Mission is to enhance the lives of adults in Dorset with lrfe limiting illnesses through clinical excellence. exceptional SeiCe and compassionate care. We are committed to., providing emots'onal and practical support., supporting innovation and research., striving for equity of service provision,. supporting training and education. Our Values underpin and influence all areas of our work. We are: ambitious to support the provision of world class palliative and end of life care., approachable in our manner.. committed to delivering the best possible service in a costeffective manner", person centred in all that we do to ensure the best possible outcome for the individual,. transparent in all that we undertake to deliver oui organisation's goals. Trustees Report The Trustees present their report and financial statements for the year ended 31 March 2024. The reference and administration set out on page 1 forms part ofthis report. The financial statements comply with current statutory requirements and the Statement of Recommended Practice Accounting and Reporting by Charities {SORP FRS102). Forest Holme Hospice Charity is proud to support Forest Holme Hospice. part of University Hospitals Dorset NHS Foundation Trust, to help provide exemplary Palliative and End of Life Care to over 1,500 patients and their families across Poole, Wimborne and the Isle of Purbeck. Forest Holme Hospice Charity funded the following services in 2023124 to achieve its aims: 1 . Counsellin and Bereavement Su ort The charity currently funds the majority of Counselling and Bereavement services at Forest Holme Hospice including,. individual and family Bereavement counselling, Palliative care counselling. Oncology patient counselling. Bereavement support groups and Cancer patient support groups. There were a total of 541 referrals to the Forest Holme counselling and bereavement services in 2023124. The charity continues to provide funding for pemianent and bank contract counsellors as well as funding for various support groups, literature, books and coaching. Page 3
Forest Holme Hospice Charity Trustees, Report 2. Pallialive Care on the in- atient ward in the communi and within Poole Hos During 2023124 the charity continued to fund various clinical roles at Forest Holme Hospice including- overnight health care assistants, 2 ward clerkslreceptionists, a therapy assistant, nursing on the inpatient ward. nursing within the hospital palliative care team and specialist nursing wilhin the community palliative care team. 3.Aran eofcom lementa thera ies The complementary therapy team based al Forest Holme Hospice were highly commended as part of the Great British Care Awards_ The team has seen a positive progression in attitudes and uptake of Complementary Therapy. Referrals have increased, and at present they are receiving 24 new patient referrals a month. These referrals are from Palliative care nurses, Doctors, The Ladybird unit. Cancer Support Workers and most importantly patients who feel confident enough to self-refer. because the information is being passed onto Ihem at the most important time, just afler diagnosis. "I felt so stressed when I came. I now feel like l in walking on a cloud. Thank you" Patient. 4. A Motor Neurone Disease s ecialist The Charity continues lo part fund a MND Co-ordinator to support people with MND and their families from diagnosis onwards. The MND Co-ordinator is the main point of contact for people with MND in our local community, and their families. .1 am grateful to have found support in people like Annen7ieke. who have been invaluable in helping me navigate the complexities of my condition. Annen7ieke s support and skills extend far beyond my medical care. She offers guidance and counsel for my wrfe and children as well, recognizing the impact that this condition has on our enti family." Danny. 5. Staff develo ment and trainin Forest Holme Hospice Charity fund5 a full time Developmental Specialist Palliative Care Nurse role to help develop and enhance skills in palliative and end-of-lrfe care. Alongside this, the charity provided funding forall clinical staff to attend training events and conferences. 6. Patient Welfare The charity believe that il is often the little things thal make the biggesl difference. During 2023124, the charity funded various patient welfare items including; yoga sessions for cancer patients, Christmas gifts for in-patients, a ward drinks jolly trolley,. daily newspapers, and a full calendar of Christmas activities. 7. Staff Welfare Boosting morale remains a priority for the charity- The charity fund regular Coffee van visits for staff alongside seasonal treats, leam building activities and recognition. Contribution from Volunteers Forest Holme Hospice Charity is fortunate to have the supporl of over 70 dedicated volunteers. Their diverse talents and generosity have been instrumental in propelling our charitable initiatives to the next level. Beyond their individual efforts. our volunteer community has thrived, fostering a sense of belonging and camaraderie. Forest Holme Hospice Charity extends hearffelt gratitude to each volunteer for their selfless dedication, as they remain the drivirw force behind our impactful journey towards making a drfFeren in the lives of those we serve. Page 4
Forest Holme Hospice Charity Trustees, Report Plans for the future Looking ahead, Forest Holme Hospice Charity envisions a future marked by enhanced support and compassionale care for individuals and families facing life-limiting illnesses. In the coming year, we plan to build on our existing services by offering additional resources to the community, including the launch of our "Life and Loss" podcast series. We will also increase our investmenl in community nursing care and bereavement support. Through strategic financial investmenl, we aim lo further strengthen the multidisciplinary team at Forest Holme, which includes skilled healthcare professionals and dedicated volunteers. to provide comprehensive and personalised care. Additionally. Forest Holme Hospice Charity is committed to deepening partnerships with University Hospital Dorset and Macmillan Caring Locally to create a more integrated and holistic approach to end-of-life care. Financial Review Income for the year totalled £1,221 k {202212023 £1,169k) mainly from donations and legacies £950k {2022123 £947k}, other trading activities £222k (2022123 £191 k) and £49k {2022123 £31 k) received from dividends and interest on investments. Expenditure totalled £1,320k {2022123 £876k}. Cash balances amount to £1.161k (2022123 £1.338k) and represent 49.4 % (2022123 56.40/0> of all funds invested. The Trustees have decided to invest a proportion of the charitable funds in Common Investment Funds (CIFS) and would expect these funds to provide long term capital growth and income. CIFS represent 38.7 % {2022123 35.10/0) of all the funds invesled. The monies held in the CIF Equity Fund showed an overall increaseldecrease in value of 9.2¥. (2022123 _3.80/0 £91 Ok (2022123 £833k), representing 38.7 % (2022123 35.10/0) of the toial funds is invested on behalf of the Charity {COIFI in Common Investment Funds. £781k (2022123 £387k), representing 33.20/0 (2022123 16.3 % ) of the total funds is invested with CCLA in a short term deposit account. Expenditure on our charitable purposes represented 80.5Yo of our total expenditure (compared to 92.00/0 in 2022123). Expenditure on administration and fundraising represented 19.5 % of total expenditure (compared to 8.OD/o in 2022123). GOVERNANCE Organisational Structure During 2023124 Forest Holme Hospice Charity was governed by a Board of nine Trustees who met formally five times during the year. Forest Holme Hospice Charity operates a full strategic planning and budgeting process, with detailed budgets and plans being presented to, and approved by, the Board each year, with performance subsequently reported and assessed against those plans and budgets on a bi-monthly basis. Day-to-day running of the charity is delegated to the Chief Executive, who reports to the Chair of Trustees. Appropriate approval levels are in place within the charity regarding requesls for funding. Page 5
Forest Holme Hospice Charity Trustees, Report Public Benefit The Trustees have given due regard to public benefit when planning the charity's activities, in accordan wilh Ihe Charity Commission's guidance on Public Benefit. In particular, the Trustees consider how planned activities will contribute to Ihe aims and objectives that have been set. The charity achieves its principal objecls and purposes through the provision of patient care and staff welfare at Forest Holme. which provides palliative and end of lrfe care at home, in the hospice and in University Hospilals Dorsel NHS Foundation Trust to those living within the Poole. Wimborne and the Purbeck area. These benefits are directly related to the aims ofthe charity and are fully compliant with the Charity Commission guidan on Public Benefit. Reserves Policy The Trustees would expect to hold reserves of a minimum of Iwelve months, budgeted expenditure. This takes into account the fact thal Forest Holme Hospi Charity does not have any committed long- term income. that income levels fluctuale across the year, and a proportion of costs are fixed in nature, all of which have a direct impact on the cash flow of the organisation. Total unrestricted reserves at 31 March 2024 were £2,299k (202212023 £2,311k} which includes designated amounts of £208k {202212023 £908k). Additional restricted funds of £52k (2022123 £62k) are held for specific projects. The Trustees recognise that the level of reserves is above their minimum requirement at present, but they are comfortable with this position due to the impact the cost of living crisis has had, and will continue to have on the charity's resources, the nature of the flow of income and the Charity's medium term commilments having designated £208k for the development of its services within the community. Appointment of Trustees New trustees are appointed when existing trustees retire or resign. Trustees are normally expected to have a professional background {e.g. legal, accounting. medical, or health), lived experience or direct involvement in palliative care and have a good understanding of the aims and objectives of the charity and its relalionship wilh University Hospitals Dorset NHS Foundation Trust. In the first instance new Trustees are introduced to the existing Trustees. The potential new Trustee is then invited to a Board meeting as an observer before appointment is confirmed by a majority vote of the existing Trustees held al 8 special meeting of the Board. Trustees receive inlroductory training lo the Charity and an annual update on good governan. Trustees can serve a maximum of three, three-year terms on the Board before they must retire. Investment Policy The Trustees have the power lo invest in such assets as they see fil. They have decided to invesl monies with COIF Charity Funds, managed by CCLA investment Management Ltd. The Investment Policy is reviewed annually by the Board of Trustees. Risk Management The major strategic risks to which the Charity is exposed have been identified and considered by the Board of Trustees. They include the fundraising targets not being delivered due to the cost of living crisis, subsequent rise in cost of living and likelihood of a recession (being addressed by scenario planning, cashflow forecasting and excellenl stewardship of supporters), University Hospitals Dorset NHS Foundation Trust discontinues investing in End of Life Care (being addressed by working collaboratively with Macmillan Caring Locally and participating in the Pan Dorset Steering Group for Page 6
Forest Holme Hospice Charity Trustees, Report Palliative and End of Lrfe Care) and the clarity and parity of NHS commissioning arrangements (being addressed by representing NHS Hospice Charities on NHS England's Commissioning Steering and Sustainability Work Groups.) These risks, amongst many others. are discussed and systems established to help mitigate those risks. The Charity maintains a risk register which is reviewed at each Board meeting by the Twstees. Income and expenditure is monilored in total and compared with the approved plan on a monthly basis with the Treasurer to detect trends as part of the risk management process to avoid unforeseen calls on reserves. Pay policy for senior staff There are four key management personnel of the Charity including the Chief Executive, Fundraising Manager. Communications Manager and the Financial Controller who comprise 3.3 full time equivalents. The Chief Executive and Communications Manager are paid in accordance with the NHS (Agenda for Change) salary framework. Subject to salisfactory performance, they also receive annual increments on the anniversary of their appointment until they reach the top of their band. The Fundraising Manager and Financial Controller are directly employed by Forest Holme Hospice Charity. Their salaries are reviewed annually at the start of each financial year. Where senior employees take on significant new responsibililies during the year, salaries are adjusted accordingly. Fundraising Practice Forest Holme Hospice Charity is committed to ensuring that our fundraising is undertaken in an accountable, courteous, legal, respectful and transparent manner. We are voluntarily registered with the Fundraising Regulator and all of our activities adhere to the Code of Fundraising Practice. We received no complaints about our fundraising methods during the course of the year. We do not use third party professional fundraisers or commercial participators to undertake any of our fundraising activities and as a small, local charity we feel very strongly that donors are not put under any pressure to donate to our cause, We do not use cold calling to solicit donations, we do not buy or share personal data or allow, anyone else to do so on our behalf. We adhere to best practice with regards to data protection and ensure il is slraightforward for anyone lo stop all, or particular, contact from us. Disclosure of information to auditor Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. The annual report was approved by the trustees of the charity on /?.9.202.Knd signed on its behalf by: Angle Smith Trustee Page 7
Forest Holme Hospice Charity Statement of Trustees, Responsibilities The trustees are responsible for preparing the trustees, report and the financial stalements in accordance with the United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP.. make judgements and estimates Ihal are reasonable and prudent., slate whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in ihe financial ststements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply wilh the Charities Act 2011. the Charities (Accounts and Reports} Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reason3ble steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial infomiation included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may drffer from legislation in other jurisdictions. Approved by the trustees of the charity on Angle Smith Trustee Page 8
Forest Holme Hospice Charity Independent Auditor's Report to the Members of Forest Holme Hospice Charity Opinion We have audited the financial statements of Forest Holme Hospice Charity (the 'charily'> for the year ended 31 March 2024, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, and Notes to the Financial Stalements. including a summary of signtficant accounting policies. The financial reporting frafflework that has been applied in their preparation is United Kingdom Accounting Standards. comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and applicable law (United Kingdom Generally ACpted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the slate of the charity's affairs as al 31 March 2024 and of its incoming resources and application of resources. including its income and expenditure. for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordan with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in Ihe auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial siatements is appropriate. Based on the work we have performed. we have not idenltfied any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charily's ability to continue as a going concern for a period of at leasl twelve months from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, excepl to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Page 9
Forest Holme Hospice Charity Independent Auditor's Report to the Members of Forest Holme Hospice Charity (continued) In connection with our audit of the financial statements. our responsibility is to read the other information and, in doing so, consider whether the other informalion is materially inconsislenl with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identrfy such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing lo report in this regard. Matters on which we are required to report by exception In the light ofour knowledge and understanding of the charity and ils environment obtained in the course of the audit. we have nol identified material misstatements in the Trustees. Report. We have nothing to report in respect of the following matters where the Charities (Accounts and Report) Regulations 2008 requires us to report lo you if. in our opinion: adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us- or Ihe financial statements are not in agreement with the accounting records and returns,. or ertain disclosures of trustees remuneration specified by law are not made.. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities (set out on page 81, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a Irue and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements Ihat are free from material misstalement, whelher due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability lo continue as a going concern. disclosing. as applicable. matters related lo going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but lo do so. Auditor Responsibilities for the audit of the financial statements 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 auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guaranlee Ihal an audit conducted in accordance with ISAS (UK) will always detect a material misstatemenl when it exists. Misstatements can arise from fraud or error and are considered material rf. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above, to delect material misstatemenls in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Page 10
Forest Holme Hospice Charity Independent Auditor's Report to the Members of Forest Holme Hospice Charity (continued) As part of our audit planning we obtained an understanding of the legal and regulatory framework that is applicable to the Charity. We gained an understanding of the Charity and the sector in which the Charity operates as part of this assessmenl to identfy the key laws and regulations affecting the Charity. As part of this, we reviewed the Charity's website for an indicalion of any regulalions in place and discussed these with the relevant individuals responsible for compliance. The key regulations we identified were Charity legislation, health and safety regulations and employment law. We also considered those laws and regulations that have a direct impacl on the preparation of the financial statements such as the Charities Act 2011 and Charities SORP - FRS 102. We discussed with management how the compliance with these laws and regulations is monitored and discussed policies and prOdureS in place. We also identified the individuals who have responsibility for ensuring that the Charity complies with laws and regulations and deals with reporting any issues rf they arise. As part of our planning pr0dUreS. we assessed the risk of any non-compliance with laws and regulations on the Charity's ability to continue trading and the risk of material misstatement to the accounts. Based on this understanding we designed our audit procedure to identrfy non-compliance with such laws and regulations. Our procedures involved Ihe following.. Enquiries of management and trustees regarding their knowledge of any non-compliance with laws and regulations thal would affect the financial slatements. As part of these enquiries we also discussed with management whether Ihere could have been any known instances, allegations or suspicions of fraud. Reviewed filings with the Charity Commission and whether there were any serious incident reports made during ihe period. - Discussed with management rf any health and safety incidents have been recorded during the period. - Reviewed legal and professional costs to identrfy any possible non-compliance or legal costs in respect of non-compliance. Reviewed Board minutes. Audited the risk of management override of controls, including through testing journals entries and other adjustments for appropriateness. Reviewed estimates and judgements made in the accounts for any indication of bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of non-complian. The risk of not detecting a material misstatement due lo fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission or misrepresentation. Page 11
Forest Holme Hospice Charity Independent Auditor's Report to the Members of Forest Holme Hospice Charity (continued) A further descriplion of our responsibilities is available on the Financial Reporting Council's website at-. www.frc.org.uklauditorsresponsibilities. This descnption fomis part of our auditor's reporL Use of our report This report is made solely to the charity trustees, as a body. in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might stale to the Irustees those matters we are required to slate to trustees in an auditors, report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed. ci PKF Francis Clark. Statutory Auditor Towngate House 2-8 Parkstone Road Poole Dorset BH152PW Date: 29 November 2024 Page 12
Forest Holme Hospice Charity Statement of Financial Activities Year Ended 31 March 2024 (Including Income and Expenditure Account) Unrestricted funds £000 Restricted funds £000 Total 2024 £000 Total 2023 £000 Note Income and Endowments from: Donations and legacies Other trading activities Investment income 950 222 49 950 222 49 947 191 31 Total income 1.221 1,221 1,169 Expenditure on: Raising funds Charitable activities (257) 1.053 (257> 1,063 (70) 10 Total expenditure Gainsllosses on investment assets (1.310) (10) (1,320) (876> 77 77 33 Net income 12 10 22 260 Net movement in funds (12) (10) (22) 260 Reconciliation of funds Total funds brought forward 2.311 62 2,373 2,113 Total funds carried forward 14 2.299 52 2.351 2.373 The notes on pages 17 to 27 form an integral part of these financial statements. Page 13
Forest Holme Hospice Charity Statement of Financial Activities Year Ended 31 March 2024 (continued) (Including Income and Expenditure Account) Unrestricted funds £000 Restricted funds £000 Total 2023 £000 Note Income and Endowments from: Donations and legacies Other trading activities Investment income 855 191 31 92 947 191 31 Total income 1.077 92 1,169 Expenditure on: Raising funds Charitable activities (70) 726 (70> Total expenditure Gainsllosses on investment assets (796) (80) (876) Net income 12 260 Net movement in funds 248 12 260 Reconciliation of funds Total funds brought forward 2,063 2,113 Total funds carried forward 14 2.311 62 2,373 All of the charity's activrties derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 14. The notes on pages 17 to 27 fom an integral part of these financial statements. Page 14
Forest Holme Hospice Charity Balance Sheet 31 March 2024 2024 £000 2023 £000 Note Fixed assets Investments 910 833 Current assets Debtors Cash at bank and in hand 357 1,161 1,518 238 1.338 1,576 Creditors: Amounts falling due within one year 13 77 Net current assets 1,441 1,540 Net assets 2.351 2,373 Funds of the charity: Restricted income funds Restricted funds 52 62 Unrestricted income funds Unrestricted funds 2,299 2,311 Total funds 14 2.351 2,373 The financial statements on pages 13 to 27 were approved by the trustees, and authorised for issue on 19: 9: 202¥. and signed on their behalf by: Angle Smith Trustee The notes on pages 17 to 27 fonn an integral part of these financial statements. Page 15
Forest Holme Hospice Charity Cash Flow Statement Year Ended 31 March 2024 2024 £000 2023 £000 Note Cash flows from operating activities Net cash income (22> 260 Adjustments to cash flows from non-cash items Investment income Revaluation of investments (49) (77) (148) {31} 33 262 Working Capital adjustments Decreasel{increase) in deblors (Decreasellincrease in credilors (119) 41 (39) 13 Nel cash flows from operating activities (226) 224 Cash flows from investing activities Income from dividends 49 31 Net increase in cash and cash equivalents (177) 255 Cash and cash equivalents at 1 April 1,338 1,083 Cash and cash equivalents al 31 March 1,161 1,338 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 17 to 27 form an integral part of these financial statements. Page 16
Forest Holme Hospice Charity Notes to the Financial Statements Year Ended 31 March 2024 1 Accounting policies Staternent of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Slandard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparation Forest Holme Hospice Charity meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with ilems recognised at cost or transaction value unless othepwise stated in the relevant note(s} to these accounts. Going concern The tfustees consider that there are no material UnrtaInlieS about the charity's ability to continue as a going concern. Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Where income has related expenditure (as with fundraising or contract income), the income and related expenditure are reported gross in the Statement of Financial Activities. Donations and legacies Donations, grants and grfts are recognised when receivable. In the event that a donation is subject to fulfilling performance conditions before the charity is entitled to the funds. the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid tax reclaims is for any donations with relevant Gift Aid certificates recognised in income for the year. Any afflounts of Gtft Aid not reiVed by the year end are accounted for in income and accrued income in debtors. Legacy gifts are recognised on a case by case basis following the grant of probale when the administralorlexecutor for the estate has communicated in writing both the amount and settlemenl date. In the event that the gift is in Ihe form of an asset other than cash or a financial assel traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the tille to the asset having been transferred to the charity. Grants receivable Income from government and other grants, whether'capital, grants or'revenue, grants, are recognised when the charity has ents'tlement to the funds. any performance conditions attached to the grants have been mel, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Page 17
Forest Holme Hospice Charity Notes to the Financial Statements Year Ended 31 March 2024 (continued) Other trading activities Sponsorship from events, fundraising and events registration fees are recognised in income when the event takes place. Lottery income is accounted for in respect of Ihose draws Ihal have taken place in the year. Investment income Interest on deposit funds held is included when recetvable and the amount Can be measured reliably by the charity which is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notrfication by our inveslment advisor of the dividend yield of the investment portfolio. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Expenditure All expenditure is recognised On there is a legal or constructFve obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All expenditure is accounted for on an accruals basis under the following headings: Raising funds Costs of raising funds comprises fundraising costs incurred in seeking donations, grants and legacies., investment management fees- costs of fundraising activities and their associated support costs. Fundraising costs do not include the costs of disseminating infomiation of support of the charitable activities. Charitable activities Expenditure on charitable activities includes the costs of providing specialist palliative care and support, community services, research and other educational activities undertaken to further the purposes of the charity and their associated support costs. Volunteers The value of the services provided by volunteers is not incorporated inlo these financial stalements. Further details of their contribution is provided in note 9 to these financial slatements and in the Trustees. report. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within calegories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of Ihe Taxation of Chargeable Gains Acl 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Page 18
Forest Holme Hospice Charity Notes to the Financial Statements Year Ended 31 March 2024 (continued) Fixed asset investments Fixed asset inveslments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investmenls are calculated as the difference between sales proceeds and their market value at the starl of the year, or their subsequenl cosl, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Debtors Debtors are amounts due from customers for merchandise sold or ServIS performed in the ordinary course of business. Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of Irade debtors is established when there is objective evidence that the charity will not be able to collect all amounls due according to the original tertns of the receivables. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is induded at the best estimate of the amounts receivable at the balance sheet date. Cash and sh equivalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due lo seltle the obligation can be measured or estimated reliably. Creditors are normally recognised at their selllement amount after allowing for any trade discounts due. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Page 19
Forest Holme Hospice Charity Notes to the Financial Statements Year Ended 31 March 2024 (continued) Pensions Employees of the Charity whose costs are recharged by University Hospital Dorset are entitled lo join Ihe NHS Pension Scheme, a defined benefit scheme. The scheme is not designed lo be run in a way Ihat enables bodies to identrfy their share of the underlying scheme assets and liabilities. Therefore, the scheme is accounted for as rf it were a defined contribution scheme: the cost to Ihe charity of participating in the scheme is taken as equal to the conlnbutions payable to the scheme for the accounting period. There were no outstanding contributions at the year end. The costs of the scheme are included with the associated staff costs and allocated to raising funds, charitable activties. support and governance costs and charged lo the unrestricted funds of the charity. The charity operates a defined contribution pension scheme for direct employees of the charity. Contributions are charged in the statement of financial activities as they become payable in accordance with the rules of the scheme. 2 Income from donations and legacies Total 2024 £000 Total 2023 £000 Donations and legacies: Donations Legacies Grants. including capital grants,. Grants 341 588 318 410 21 950 219 947 3 Income from other trading activities Total funds £000 Total 2023 £000 Events income. Other events income 222 222 191 191 Page 20
Forest Holme Hospice Charity Notes to the Financial Statements Year Ended 31 March 2024 (continued) 4 Investment income Total 2024 £000 Total 2023 £000 Income from dividends., Dividends receivable from other listed investments Interest Income 24 25 31 49 31 5 Expenditure on raising funds Costs of generatlng donations and legacies Total 2024 £000 257 Total 2023 £000 70 Other direct costs of generating voluntary income 6 Expenditure on charitable activities Total 2024 £000 201 153 104 116 25 428 20 16 1,063 Total 2023 £000 277 151 129 185 41 Nursing Counsellors & Therapy Contribution to UHD for Hospice running costs Patient welfare l amenities Staff welfare l amenities Refurbishment Podcast Miscellaneous 23 806 7 Net incomingloutgoing resources Net incomingloutgoing resources for the year include: 2024 £000 2023 £000 12 Audit fees Page 21
Forest Holme Hospice Charity Notes to the Financial Statements Year Ended 31 March 2024 (continued) 8 Trustees remuneration and expenses No trustees, nor any persons connected with them, have reiVed any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from Ihe charity during the year. 9 Staff costs The aggregate payroll costs were as follows: 2024 £000 2023 £000 Staff costs during the year were: Wages and salaries Social security costs Pension costs 108 10 29 123 32 The monthly average number of persons (including senior managemenl I leadership team) employed by the charity during the year expressed as full time equivalents was as follows= 2024 No 2023 No Charity Administration The above numbers are for the staff employed direct by the Forest Holme Hospice payroll scheme which was effective for the full year 23124 compared to 6 months frorn October 2022 for 22123. Most of the hospice staff continue to be employed by University Hospital Dorsel, average number full time equivalents was 12 - £504k {22123 13 - £602k) No employee received emolumenls of more than £60,000 during the year 10 Taxation The charity is a registered charity and is therefore exempl from taxation. Page 22
Forest Holme Hospice Charity Notes to the Financial Statements Year Ended 31 March 2024 (continued) 11 Fixed asset investments 2024 £000 910 2023 £000 833 Other investments Other investments Listed investments £000 Total £000 Cost or Valuation At 1 April 2023 Revaluation 833 77 833 77 At 31 March 2024 910 910 Net book value At 31 March 2024 910 910 At 31 March 2023 833 833 12 Debtors 2024 £000 2023 £000 Prepayment5 Accrued income Gift aid receivable 351 221 14 238 357 13 Creditors: amounts falling due within one year 2024 £000 2023 £000 Trade creditors Other Creditors 20 57 36 77 36 Page 23
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Forest Holme Hospice Charity Notes to the Financial Statements Year Ended 31 March 2024 (continued) The specific purposes for which the funds are to be applied are as follows.. Restricted funds are allocated to patient welfare and amenities. 15 Analysis of net assets between funds Total funds at31 March 2024 £000 Unrestricted funds Designated £000 Restricted funds £000 General £000 Fixed asset investments Current assels Current liabilities 910 1.258 177) 910 1.518 1771 208 52 Total net assets 2,091 208 52 2,351 Total funds at31 March 2023 £000 Unrestricted funds Designated £000 Restrlcted funds £000 General £000 Fixed asset investments Current assets Cuent liabilities 833 606 136) 833 1.576 {361 908 62 Total net assets 1,403 908 62 2.373 Page 26
Forest Holme Hospice Charity Notes to the Financial Statements Year Ended 31 March 2024 (continued) 16 Related party transactions During the year the charity made the following related party transactions: University Hospitals Dorset NHS Foundation Trust (UHD) operates Forest Holme Hospice. UHD supports the Hospice financially and is committed to pay for certain agreed staff costs and amenities. The Charity agreed to make a contribution of £946k including £398k for the refurbishment {2023: £604k) towards the general running costs of Forest Holme Hospice during 2023124. The following Trustee of the Charity, during the accounting year. was employed by (UHD): Dr Beverley Lee, Consultant in Palliative Medicine. Charlotte Lilley. a Trustee, is an Associate Solicitor at Coles Miller Solicitors LLP, the Charity's solicitors. Page 27