Hosbis Dewi Sant St David's Hospice (A Company Limited by Guarantee) Annual Report and Consolidated Accounts For the year ended 31 December 2022 Charity Number 1038543 Company Number 2922828 IINIIIIIIII ACCX81DT* 27KW2023 cOMP*￿IE$ HOUSE #1 Hosbis Dewi Sant St David's Hospi Index to Annual Report and Accounts Year Ended 31 December 2022 Contents Page Chairman's Review Trustees Annual Report Reference & Administrative Details Structure, Governance & Management 4-5 Objectives & Activities Financial Review Plans for future periods Report of the Independent Auditors 9-11 Consolidated Statement of Financial Activities 12 Consolidated and Charity Statement of Financial Position 13 Consolidated Cash Flow Statement 14 Notes Forming Part of the Financial Statements 15-25 Hosbis Dewi Sant St David's Hospice Chaimian's R￿eW Forthe yeor ended 310rf¢mber2022 Welcome to the Annual Report of St Oavicfs Hospice for 2022. l am very pleased to confim) that the hospice remains in 'good%oing-corKern' dEStNte the considerable PDSt-pandemic challenge5 that we all face. This year has seen ouf clinical services. at Uandudno and Holyhead. return to a rnore'u5ual' service. Of course, Covid 15 Still a part of our lives. sometirnes causing dIsrupt￿n because of illness to patients and staff, but ifi general we have returned to the usual hospice planning process of suprM)rting anLI evaluating our clinbcal care- assessing and developing our incorne-8enerating ctivklies,. and applying careful oversight to the ho$￿e'S incomeand expenditure perforniartt. It has been heartening io see this return to normality. with our shw Openi￿ fund-raisire events and attiviries re-stsrtiTh& and those clinical services thal had been aopped. such as day-thetapy. once again providing much-needed suppart for our patients. The Board receives ￿pOrtS iegular on clinical attivify. includiw MO￿ detailed examples of the patients we care for lin entirely anonyrnise forrnl. These ￿portS keep the Board fully appraised of the reality of hospice cafe and dfive us. and all our staff, to increase effort5 and determination to sustain thecharity and the services it provides. That said. as I've stated previously. the hospite operate5 in the same financial and sotial efftiironment as our community, with the same challenges of inflation and workforce shortages faced by us all. Ener8y Costs. maintenance, and salarie5 have all increased. Most annoyingly. our investrnenis. which are essentially our ￿SelveS established to support us through 'challenging times., and which usually pfovide u5 Wlth an addit￿ll81 Èncome, have seen a tsll in value of £478,777 in 20Z2. It is very likely that investment value will recover. of course, and an investment wrtfolio remains the bestoption forthe reserves we are legally obliged to cary. The largest linaneial change In 2022 was the loss of the specifK Government CoronaviTUS SUPWJrt schemes. which tot3lled nearly £1.2 million. This was mitigated by an increase in revenue supwrt funding by the NHS of £425.320. Although disctsssions with the Health Board have not entirely concluded at the time of writin& we work very closely with the NHS in delivering clinical care and l am increasingly opttmistic that NHS financial support for us will meet the 30% of clinKal costs ihreshold considered to be a minimum bv UK hospices. As you will read, we end the yeai with a of £11.771. Whilst thai is reassurin& it would be ￿MisS of me to not recognlse that we withdrew and utilised £350.￿0 from our investment reserves in 2022. and that we retei¥ed an astonishing income from legacles Iwillsl of £2.19 million. We are so humbled and immensely grateful forthis legary support and also from other donations. In summary, although we finished 2022 in a balanced p05ilion, the finorKial futUTe remains very challenBin& and all of our staff and departments are doing everything possible to reduce unnecessary expenditu￿ and improve income Beneration. This includes reviewing all costs. inclucling clinical costs and expenditure on management and raising funds. to ensure that we have maxirnum retum on arty expenclr¢ure made. We a￿ embarking on a regime of shop Tegeneration anLI also increasing SUPPOrt for those individuals kind enough to think of our services. be that throu8h hJnd-raisin8 activities. making iJonatK)ns or including us in leEacie5 Iwi1151. The h05pice would not exist without the supp)rt of ourcommunities. and we thank you all for that support. Page I Hosbi5 Dewi Sant St David's H05pice Chalm)an's Review For the year ended 31 Otcember 2022 The publication of annual accounts enables our communities to scrutinise our use of pvblit funds and those funds collected by our supportefs in our cornmunities. I hope that this report will provide assurante on the professionalism at the heart of St David's Hospice. Dr Lyn on Miles Chair ot Trustees Page 2 Hosbis Dewi Sant St David's Hospice Trustees Annual Report for the year ended 31 December 2022 Reference & Administrative Details Directors and Trustees At the dale of the report, there are currently 12 Trustees of St. Dawd's Hospice. The Trustees serving during the period were as follows:_ Dr L Miles Ms J Leslie Mrs A Hughes Mr R Drinkwater Mr R Thomas M% E Jones Dr H Edwards Chair of Trustees Honorary Treasurer Vice Chairman Dr S Mcvicar MrA Thomas Mi O Williams Mrs S Edwards Mr D Hardy Chief Emecutive Mr T Pritchard Company Secretary Ms J Leslie Registered Office Abbey Road Uandudno Conwy LL30 2EN RegSstered Company Number 2922828 RegIste￿d Charity Number 1038543 Registered Auditors Pritchett & Co Business AdviseT5 Limite¢S Chartered Accountants & Statutory Auditor 16 Wynnstay Road Colwyn Bay LL29 8NB Bankers Lloyds TSB 22 Mostyn Street Uandudno, LL30 2RU Investment Managers Dragon Investment Managers Ltd 92 Bowen Court The Busine55 Centre The Business Quarter St Asaph LL17 OJE Investec Wealth & Inve5trnent Ltd The Plaza ILK) Old Hall Street verpool L3 9A8 Solicltor5 Bone & Payne 5S Madot Street Uandudno. LL30 2TW Page 3 Company Number: 2922828 Hosbis Dewi Sant St David's Hospice Trustees Annual Report for the year ended 31 December 2022 The Trustees Df St David's H05pKe. who arE also DsrectDr5 for the purpose of the Companies Att 2006, svbmTr their annual report and the 3udlted accounts of the group f¢y the year ended 31 DecembEr 2022. The Trustee5 have adopted the prU￿s1On$ of the Statement ol Recommended Prartitr ISOBPI 'Accountin8 3nd fte￿rrIng by charit￿5. applic3ble to rhèrit*s preparing thÈir accounts in a(c￿¢yanCe with Ihe Fina4)oal Rep¢JrtingStandar¢J applKable in the UK and RepuWK of Ireland IFR5 1021 (put￿Ished in October 20191. structurè. Govèrnance & Manaièment Constltution St David's Hospice 15 the parent company of a group. 1tm.rted by 8u4rantee but not hwng Sha￿ capital Icrynpany No. 29228281. and is registered as a Charity un(ler the Charities Att 2011 IReÈistered Chwity No. 10385431- The group was sei up in 1996 and is governed by Memorandum and Articles of ASSQtiation which wÈre tsst amended in J￿e 2013. The manaEement ol the group is vested ID a Board of Trustee5. Group Status The 8roup is limited b¥ guarantee. The liability of the Trusiee5 is lirniteil to a sum not exceedin@ £10. b•ng the omount thét each Trusteo ndertakes to contribute to the assets of the tharity in the event of it b•n8 wound up while helshe s 3 Trustee or wirhin one ye3r after helshe ceases to bea Trysiee. Recruiknent of Trusteès Tru5tee5 arE appointed by the members at the Annual General Meeting after notnination in accoTdano with the procedures detailed io the group5 Arbcles trf Assooation. Appointing and keepin8 the right Trustees is èn imwrfdrt part of 8overning the group. It needs è balance of ski115 and types ol pEo￿e. Trustee5 continuè to urilise the re￿Sed information pack which summan5es the roles and responsibilities of a Trustee. The Board of Trustees ￿CoMplIed of the fdlowin8who served duringtheyear= Or L Mile5- Chaif of Trustees MSJ Leslie- HonoraryTrea5ufer Mrs A Hu8hes- Vite Chairman Mr R Drinkw3ter Mr R Thom35 Als EJDnes Or H Edwards Drs MC￿tar Mr A TIK)mas Mr D Williams Mrs S Edwards Mr D Haidy Induction and trainin8 of Tru5teÈs Trustees receive a comprehensive indwbon patk to ￿q￿int tlvn with St Dwd'5 H¢J51m￿ pJfry and prartice. its aims and objertNe5, management and Eovernance. also with what is expected of them VTrd￿ Char￿ law. with ￿rtiCUlar reference to Chariiv Cornrni55ton 8uidance publications. Key management remuneration polity The Hospice management team is headed by the Hospice Ch￿f ExecutNfe and comprises the fo￿Win8 stsff.. Head of Health & S3fety and Facilities. Director of Care. MedKal Direttor. CommercKAI thrector and Head of FinarKe_ Arran8ements forsettin8 pay and remunerayoTr are Undertaken ttythe B03rd of Trust Related Partie5 St David's H05pice ha5 one tradirTr8 5ub5idiary. St Da¥NI's Pfwnoiions limited. Sl Da￿d,5 Promotions LThited runs a lottery to raise funds for the benefitof the Hospice and tlonatesall proffts to St D3¥id's Hospice. Pa8e 4 Company Numbèr: 2922828 Hosbis Dewi Sant St David's Hospice Trustees Annual Report for the year ended 31 December 2022 (cont.) GovÈrnance & Internal Control The Board of Trustees meets five times a year to dirett the management and governarLce of the group. This IncI￿leS fEviews of the grwp's Oicies and protocols, developments to seTrices. finances and (vndraiyng. The day to day management of the 8roitp is delegated to the 8roup (hitt ExeCUt￿e and the wp ManaÈementTeam. Statement of Trustee Responsibilities UK company and ch3rity lavi requires theTrustees to prepaie arcounts for each fw*ncialyeJr, which 8we a trut and fair view of the stste of ?ff3ir5 OF the Biovp at the end of the financial year and of the surplus or deficit for that period. Ehis nnual reporr, theTru5tee5 have.. Selected suitsble accounting polKiesand then appl￿ theM￿A￿Stenty. Observe the metho¢Js and principles in the Chaii¥esSORP. Make jud6ements and estimatesthatare reasonableand prudenL siafed ¥Yhether applicable accountlll8 513ndards have been fcllowed. subjert to any rnaterial departures disclosed and Explainod in the accounts. Prepared financrdl 5t3tements on the going coll￿m ba*s un*55 tt t5 inapprowiate to wesume that the group will continue in buslne5S. The Tr¥5tees have respon5ibilty for ensuring that the 8roup has 3pprcpriats sythms Df controls, financial and otherwhse. They are 31so re5ponsib￿ for keepin8 proper atcountin8 reior¢Js which disclose ¥￿th reasonable accuracy at any time the financial p0Yr￿on Df the sroup and enable them to ensure that the annual repL¥t and accounts compty the Companies Act 21X>6 and the "Statement ef Recommended Practtce.. kcountiftg and Repo¢tnB by Ch8rittes'. They are a150 iesponsibèe For sileguarLliftg the assetsof the 8roup and he￿e fortaking reèsoDable srepsfof the pre¥eniion and detecbon olfraud and other irregul3ritiÈS. In accordance with tompory law. isthe8roup'5 dirEctors, we£eibfy thatr. SO far as we a￿ aware. there 15 T￿￿¥ènE audit infr)rmation ol wh￿h thÈ 8fOUP'5 a￿[tOrS are Una￿dre.. and as the directors of the group we have tiken 311 the step5 that we ought to have taken in order to make ¢yJrsefves aware of any relevant audit tnformation and to establish thatthe 8r(￿p,$ auditotsaie aware of thatinfom)ation. The group's board sub Èroups have continued ro meet throughout the year- these 8rrxJPS deal with 5peeifi£ Dperatin8 policy for Income Generation, Clinical Governance. FinarKe and HR. These sub 8roups have onty limited autt￿rity From the 8oar& to act autonomously, howeverthey mostly make recommendations for the board for its¢onsideration and approval. The group is registered witti Health Inspectc¢ats Wale5 IHIWI as an independent adurt H05pice. providing eiEhteen in-pavent beds up to ten plaies in its ¢Jay unit It has to demonstrate that it complies With the Care stsndar05 kt 20rKI a5SOCiated regulations, which include a set of Natyenal Minimum 5tandard& In addition. The Welsh Goverrtment sets do%vn specific objEctives in relation to the delivery ofspeoalist palliatre care whith are dirertty Ibnked tO8rantfundinE. The 8roup is a member of the national tharity Hospice UK whith is èn adwsory tx)ffjf. The per￿d￿ inspertions by Health lospectoratÈ Wales an independeni theck thatlhe ythjp risks3NI opÈrnbn8 to Natronèl 8LwdÈline* Risk Management Trvstses ènd staff annualty review mo1￿ risks to wh￿h the group may bÈ exposed vyn8 the prixe55 recommended by The Charity Commission. Systems have been established to mitigare any risk5 which have been Idenufied and the Strdte¥ic Risk Rè8lSter is ￿gUIldY monitored and updates ewen io the Finance and HR Commrttee on a ￿&v1?[ bays. Internal risks are miThim15￿ by the imp*mentstkJrb of procedure5 forthe auth0ri5atyw of finanoal tian5action5. Page S Company Number: 2922828 Hosbis Dewi Sant St David's Hospice Trustees Annual Report for the year ended 31 December 2022 Icont.) Objective5 of the Gioup The main objeciive5 of the group are.. The running of an adult palliatNe care facility providing symptom relief. respr(e and end of llfe care Promoting or encouraging iesearch into the care and treatment of persons suffering from progressive. life threatening illnesses Promotin& encouraging oi assisting in theteaching or training of students in any branch of medicine. nursing or allied servites Providing psychological. social and spiritual help for patients and family of patients. Public benefit statement- Aims, Activities and Achievements The airn of the group is to provide the highest quality specialist palli*ive (are for the people of North West Wales. The main activity continues w be the ddivery of s￿l311st medical and nursing services to patient5 and their lamilies and carer5 by a skilled and de(licated multi-PTofession31 palliative care team. The group has eighteen re8istered beds. 14 in Llandudno and 4 in Holyhead. providing symptom relief, respite and end of life care. There is also a Day Therapy servlce (Hafan Dewi Santl providing appointments in Llandudno and Bangor. The service5 include bereavemenV£ounsdling service. art and complementary therapy. A FAB (Fètigue. Anxiety and 8reathlessne5518roup is also offered_ All care is free at the poini of delivery for patients. In addition to the medical and nursin8 inpuL our patients benefi.t from serv¢ces of the multi-di5cipI(nary team ¢ncluding physiotherapy and social worker. During 2022 66 patients attended the bereavement group. 274 patients attended bereavement support with our social worker and 147 patients attended counselling sessions with our bereavement councellor. We received a total 451 referrals to the H05pice, of which IIS were admitted to Holyhead and 219 were admitted to Uandudno. The Trustees believe that the obiectives and services provide(I by rhe group, reflected in the above notes. are compliant with the duty in section 17ISI of the 2011 Charities Act to have due regard to the Charities Commission Guidance on Public Benefit. The Trustees believe the following strategies fvrther demonstrate public benefit. Maintain and improve upon the hi8hest quality and standards of care and services for patiencs. their families and carers. Ensure ihat the iesource5 Within the group are effetti¥ely managed and that in the luture Services continue to be available for patients. As a Specialist Palliative Care Provider we will encourage all staff to continue in their professional development. We will continue to listen znd respond to the opinions ot our patients. the general public. stall and otrter protessionals about what they want from us. Workin8 wilh oiher palliative Ca￿ providers and partners we will contTrnue to plan and deliver services that benefit all patients in ovr zrea. Page 6 Company Number: 2922828 Hosbis Dewi Sant St David's Hospice Trustees Annual Report for the year ended 31 December 2022 (cont.) Financial Revlew Review of Activities and Financial Position - Hospice Details of the ￿SuIts for the year are shown in the Statement of Financial ActNities and notes forming part of the Finarncial Statements. For 2022 the Trustees report a consolidated 5urplu5 for the year of £11.771 12021- surplu5 £1.655,5561 and consolidated accumulated funds of £8.175.99112021-. £8.164.2201. The finantial position of the group is set out in the balance sheet on page 13. The free reserves of the group amounted to £3.749.35412021: E5.313.6741 which equates to approximately seven months of expenditure. Total Incoming Resources Total incoming resources decreased on 2021 by £2S2.207 or 3%. Income from our shop5. ecornmerce and legacie5 increased compared to their 2021 totals. Fundraising and Fundraising Standards Information In 2022 fundrai5ed income totalled £477.070. No external professional fundraisers were employed during the financial year. Four commeicial agreements are in place with local businesses (total value £1.90412021- £2,74411. In 2022, no formal fuTrdraisinB complaints were received relating to activitie5 by the charity. lospice Shop5 Income from our Hospice shops continues to be a major revenue source to the charity- we are always lookirhg to maximise tsur income and look for additional new shops. We are continuing trj develop our ecommerce income to adapt to current buying trends. St Oavid's Promotions Ltd St David's Promotion5 Ltd 15 a wholly owned Subsidiary and operates the St David's Hospice Lottery. Page ? Company Number: 2922828 Hosbis Dewi Sant St David's Hospice Trustees Annual Report for the year ended 31 December 20ZI(cont.) Investment Poliry A8 part of the remil of Finance Sub Committee. all investments are reviewed on an annual basis with extemal advssers. The group is advised by the investment firms Dragon Investment Managers Ltd and Investec, who have been given discretionary management of the portfolio within a medium risk profile durin8 2022_ The Finance Committee is kept informed at all sta8es and receives quarterly valuations of the portfolio. On a six monthly basis the Companies. representatives attend the Finance Sub Committee meeting to review investment performance and advise on future investment policy. The split tsl investments is turrently as follows.. Fixed Interest Setvrities Equities Cash pending held as part of the investment pwtfolio 10.0 The Trustees have decided to adopt a cautious strategy for growth to allow for long temi group development. Reserves During the year the Broup's total reserves increased from £8.164,220 to £8.175.991 of whith £2.926.637 is held in tangible fixed assets. The remaining amount of £5.249.3S4 equated to approxirnate￿ ten months expenditure which Trustees calculate to be a reasonable amount given the current economic climate. Plans for Future Perlods During 2022 we completed the building refvrbishment in our 8an8or 03y Therapy centre and plan5 are being considered for similar, much needed refurbishment of the main Hospice buildin8 in Llandudno. £1.5 million ha5 been designated in these accounts for this purpose INote 141. This has been made possible due to the generous legacies and donations we have received. Dr L Miles Chair of Trustees 23 Pa8e 8 Company Number.. 2922828 Hosbis Dewi Sant St David's Hospice Independent Auditor's Report To the Members of st David's Hospice We have audited the financial ststÈments of St Davml's HospKe Lirnited Ithe 'parent Charitab￿ compan￿} and tts subsidlary St David's Promotion5 knmited Iihe 'group'l for the year ended 31 DecÈmbÈr 2022 wh￿h comprise Consolidated Ststement of Financial Actbvities, Consolidated and Chartty Statement of Financial Posiiion. Con501idated Cash Flow Ststement and notes to the financial statemeThts. includinB a surnmary of significant accountin8 policie5. The financial rep(xling framework that has been applied in their prepJration is applicable law and United Kin8dom Accountin8 Standards. including Financial Rep￿IllE Stsndard 102 The Financial Reporting Standard pplicable in the UK and Republic ol Ireland Iunited Kingdom Genera1￿AttePted Accountin8 Pratticel. In our opinion. the flnancièl staternents: 8ive a true and fair v￿W of the stste of the group's and the parent charitable iompany'5 affairs as at 31 DÈtembei 2021 and of the groups Sncoming resources and app1￿31￿)n of resources. including its Incorne and expenditure. for the year then ended. land of the undÈrtakings includEd in the con501idatKJn as a wholè. so far as concerns the members of the group..) have beeTr properly prepareé in accordance with United Kine¢Jom Generalty Accepted Accountyng Prattice. and have bÈen prepared in atcordan¢e wTth the requ1￿m￿nts dthe Comp3n*s Att 2LX)6. basls for opinlon We conducted our audit in accordance with International Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our respDnsibilities under those standarés are further described in the audr(orfs res￿nSibIlitieS for the audit of the tinancial statements section of oui feport. We are independent of the group and parenl charitable company in accordance with the ethKal requirements ihat are relevant to our audit of the financ￿1 statements in the UK. inclijding the FRCS EthKal Stanijard. alld we have fulfilled ¢NJr other ethical respoThsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined 15 sufficient and appropriate to provide a basls forour opinion. Conclusion5 relating togoing toncem In huditing the financial statements. we have concluded that the trLts¢ees' use of the going CO￿ern basls of accountin8 in the preparatton of the financial ststements is appropriate. Based on the work we have performed. we have not ideThti￿d any material uncertainties ￿lating to events or conditions thaL indivsdually or collectively, rnay cast SiBnificant doubt on the group's or parentcharit(s ability to continue a5 a 8oinK concern foi a perK)d of at least twelve months from when the financial staternents are authorised for issue. Our responSI￿litIeS and the responsibilities of the trustees with respett to goin8 concern are described in the ￿levant sections of rhis report Other informatlon The other inforrnatH)n comprise5 the information included in the tfustees. annual re￿rt. other thèn the Pinancial statements ¥nd our auditorfs report thereon. The trustees are responsib￿ for the other inlormaiion contained withingthe annual report. Our opinion on the linancial statements does not C4)ver the other informatw)n and. extept to the extent othenwise explicitly stated IN our rerx)rt, we (b not express any form of a5svrance conclus￿￿ thereon. Our re5p(kn5ibility is to reod the other inforrnatK)Th and, in doing 50. conyder whether the other inforination is materially incon51Stent with the financial statements or our knowledBe obtaSned in the course of the audit or otherwise apFears to be materialty misstated. If we identify suth material inconsistencies or apparent matÈrièl misstatements. we ère required to detem)ine whÈther there is a material mi55taternent In the financial statements themselves. If. based on the work ¥¥e have performed. we tonclude that there is a material mtsstatement of this other information. we are required to reportthat fact. We have nothing to reporr in this regard. Page 9 Company Number: 2922828 Hosbis Dewi Sant St David's Hospice Independent Auditor's Report To the Members of St David's Hospice l¢ont.I Oplnlons on other matter5 prestribed Companies A¢t 21JJ6 ITh ouropinion, based on the work undertaken in the course ol the audit.. * the information gNen in the trustees. report for the financkal year for whKh the fjnancral statements are p￿￿a￿d is consistent wlth the financial 5tatemÈnts.' and • the trustees report has been prepared in accwdarKe with applicab￿ ￿gaI te4uirernenlS.' Matters on whichwe are required to report byex¢eption In the light of our knowledge and understanding of the group and parent CharItsb￿ compary and its environment obtained in the course of the 3udit. wÈ_havÈ n¢t identrfied material rnisstatements in the tnjstees report. We have nothing to report in respect of the following matter5 in ￿lat￿)n to wh￿h the Compèn*s 2006 and the Chariiies Act 2011 requires u5 to ￿port to you if, in our oplnHJn'. • adeqvate and sufficieni accounting records have not bEen kept bythe parent (harit3ble company. or retums a¢*qu¥te for our audit have nat been ieceived from branches not visited by us- or the parent charitable companrfs linancwl 5tateFnents are ￿ in a8reemeM With the accourtlng records and returns.. or certain di5ck)svres of directors, remuneration specif*d by law are not made.. or • we have not rece￿ed 311 the information and eXp￿n#t[on$ we require for our •udbt. Responsibllltles of trU￿ee$ explained more fully in the tru5tee5' responsibilities ststernent set cyrt on paBe 5 the trustee5 Iwho are also the directors of the charitable cornpany for the purposes of cornpany lawl are re5w)nsible for the preparation of the financial statements and for being satisfied that they @ive a true and fair view. and for5uch interrwl control a5 the truttees detemiine is necessaryt¢ enable the prepar3tion of finènc¢al ststernentsthat are free from rnaterwl rni55tstemenL whether due to fraud oi erroT. In preparing the financial staternents, the trystees a￿ ￿spOnSible for assessing the group's and pa￿nt charitable company's abllity to ontir¢ue as a going concern, disclosin& a5 applicable. matters related to going conrern and using the Eoing coniern basi5 Of atcounting unless the trustees either intend to li4uidate the group or the parent tharitsble company or to cease opeiations. or have no realistic alternative but to do so. Auditor's re5ponslbilitiesfor the audit of the financial ststements Our objective5 arE to obtoin reasonable asyjrdnce abrmrt W￿ther the financial statevnents as a W￿le are fr¢)m material misststement, whether due to fraud or error, to i55ue an èvditorfs report that ificludes our opinion. Reasonable assurance is a high level ol assurance. but is Th)t a guarantee thar an audit ctsnducted in accordance wr(h ISAS IUKI will 3hvJys detect a material misstatement when It exist5. Mi55taiements can arise from fraud or error and are considEied matefkal rf. individually or in rhe aggregate, they iould reasonably be expected to influence the ecort0rn￿ deCIs￿)n$ of userstaken on the basis of these hnancial siatements. The exlent to which our pr¢xedures a￿ capable of detecbne iryeeular4t*% irKludingfraud 15 detailed bebw.. Irregularities are instance5 of norFcompliance with lows and regulations. The objectives of our audrt are to obtsin sufficient appropriate audit evidence reBarding cornpliènce with laws and regulations th31 have a dI￿rt effett on the determination of rnaterial amounts and disclosures in the fiftancial statements, to perform audtt pr(Kedures to help iderrttfy instances tsf Tron-complrance with other laws and regu13tions that may have a material effect on the linaneial ststements. and to respond approprwtety tLI identrfied or SL15pected non- compliance with laws regulations idenbfied dtjringthe audrt. In rolation to ffaud. the objectives of our audit are tt* identify and a55ess the r￿k of material rni55tatement of the financlal statements due to fraud, to obtain sufficient apwopriate evidence regarding the assessed risk5 of materkal misststement due to fraud through (Jesigning ènd irnplernentln8 appropriate respon5e5 and to rEspond approprkitety to fraud or su5perted fraud durtn8 the autltt. However, it 15 the prSmary responsilxlity of management. wf(h the ¢>vewht of those charged with governance, tr) ensure that the entitWs operaiions are conducted in accordance with the provisx)nsof law5 and regulat￿nSand forthe prevention and detection of fraud. Page 10 Company Number.. 2922828 Hosbls DeTM Sant St David'5 Hospice Independent Auditor's Report To the Members of St Day￿.$ Hospice Icont.) Auditorfs respon51bSlltlo5for th* audit of thefinanckl statefflents ItOmL) In identifyin8and aSse￿n￿ risk50f m3ieiial mi55taiement in respect of irre8uLiritie4 including (Taud, the audit en8a8ement team: OiFtsined an undersranding OF the nature of ¢he sector, induding the leBiI and regulaiory framewks that the Charitab￿ company operates in and how the charitable company is comp￿"nE with the legal and regulatory frameworks- Inquired of managemenL and those tharEed With Eoverna￿e. at#)ut Iheir own ￿entificati￿ ar￿ a55e55ment of the wtsks of irre8ularities, including any krwn. actoal. suspected or alleEed instancesof IratyJ.. Discussed matters about nonns entered outside the Mrmal course of busine5S. 3Thd th311enginBjudKements and estimates. A lurther description of our responsilx1it￿S for audit tsf the financol statements is Socated on the Finantial Reporting CourKil's website ot httP.'Ilwww.frc.org.uklauditorsrespcthSib￿It1È$. Thi% descr4)tion fom)s part ofwrauditorfs reporL Use of our report Thls feport is made solely to the charitable comparfs members, as a bc**. in accwlance ¥Aih Chapter 3 of P3n 16 ofthe Companie5 Act 2W6. Our audSt work has been undertaken $0 that we mizht state to the charitsble companfs member5 th￿ matters we are required to state to them in an auditorfs report and for no other purpose. To rhe fullest exrent pemiirred by law. we do noi accept or a55ume re5pon5ibillty to anyonp other thbn the charitable company and Ihe charirablecompan￿5 membersa5 a body for Our?￿ar work. for this reporL orforthe opsnions WÈ have formed. Rth￿rt Kenwell. SenK*r StatutoryAuditor For and on behalf of PritthÈtt & Co Business Advisers Limited Chartered Accountants and Statutory Audite 16 Wynnstsy Road Colwyn Bav Con¥ L129 8N8 Page 11 Hosbis Dewi Sant St David's H05Psce Consolidated Statement of Financial Artivities Ilncorporating an Income and Expenditure Account) For the year ended 31 December 2022 Unrestricted Restricted Funds Funds Total 2022 Total 2021 Notes Income: Donations. Erants and legacies Charitable activites Other tradin8 activite5 Investment income Other income 2,791.657 2,030.428 592.526 2.782 1,229.482 236.554 3.028.211 2.030.428 592.526 2.782 1,347.399 2,760,199 1.921.778 710.858 24 1,860,694 117.917 Total Income 6.646.875 354.471 7,001,346 7,253,553 Expenditure: Costs of raising funds Charitable activitie5 1.927,086 4.192.371 379,(KYJ 12,341 2.306.086 4.204.712 2.273.845 3.642.597 Total expenditure 6.119.457 391,341 6,510.798 5,916,442 Net Gains / IL0s5esl on inve5trnents io 1478.7771 1478.7771 318,44S Net IncomellExp*nditurel 48.641 136,8701 11.771 1.655.556 Transfers between funds Net movement In funds for the year 48.641 136.8701 11.771 1.655.556 Reconerliatroft of funds.. Total funds broughi foNard 7.986.693 177,527 8.164,220 6.S08.664 Total funds carrled forward 8.035.334 140.657 8.175.991 8.164.220 The stèternent of financial activities indudes all gains and losses reco8nised in the period. All incoming resources and re50urce5 expended derive from the conkn"nuing artrvities. Page 12 Company Number: 2922828 Hosbis Dewi Sant St David's Hospice Consolidated and Charity Statement of Financlal Posltlon As at 31 December 2022 Group 2022 Charity Z022 Group 2021 Charity 2021 Fixed Assets Tangible assets Investments 2.926.637 2.780,196 5.706.833 2.921.985 2,780.2(XI 5.702.185 2.850.546 2,840,730 3.608,973 3.608.977 6.459,519 6,449,707 io Current Assets stock Debtor5 Cash at 8ank and in hand 38.778 2.590.783 849,357 3.478.918 38.LX)4 2.685.320 671,694 3.395.018 41,794 40,741 1,620.021 1.791.851 1,000,485 730.714 2.662.3￿) 2.563,306 li Creditors.. Amounts falling due wlthin one year 12 I.lN￿.760 1926.4911 1932,5991 1828,8361 Net Current Assets 2.469.158 2.468.527 1.729.701 1.734.470 Total Assets Less Current Liabilities 8.175.991 8,170,712 8,189.220 8,184,177 Welsh Governrnent Grant 13 125.0001 125,0001 .175,991 8.170,712 8.164,220 8,159.177 Funds: Unrestrlcted Funds General Restrittèd Funds 14 14 8.035.334 8,030.053 140.657 140.657 7,986,693 177,527 7.981.648 177,527 Total Funds 8,175,991 8,170,712 .164,220 8,159.177 The financial statements on pages 12 to 25 were approved and authorised for issue by the Board on Z s 2023 and are 5i8ned on its behalf by= Or L Miles (Chair of Trustees) Ms J Leslie IHonorary TreaSU￿rI Page 13 Hosbis Dewi Sant St David's Hospice Consolidated Cash Flow Staternent For the year ended 31 December 2022 Notes 2022 2021 Cash from operatlng actlvftles 256.077 477,433 Cash used In Investlng actlvltles Net investment gainslllosses} Investment withdrawalslladditionsl Intefest income Purthase of fixed asset investments Purchase of tangible fixed assets Disposal of tangible fixed assets Cash used in investing aetlvities 1478,7771 350,(Kx) 2.782 318.445 lÈWKJ,0001 24 1281,2101 1173.8821 1407.20SI 1255.4131 Cash used in financing artivities Increase Idecreasel In Cash and cash equivalents In the year 1151.1281 222.020 Cash and cash equivalents at the bewnnSng of the year 1.000,485 778.465 Cash and cash equlvalents at thè end of the year 849,357 I.OLXJ.485 Pa8e 14 H05bi5 Dewi Sant St David's Hospice Notes on Consolidated financial Statements For the year ended 31 December 2022 l Accounting Policies al The financial statements have been prepared under the going Con￿rn and histor4ts1 tost ttsnventitsn with the exception of investments which are included at market value. The financial statements have been prepared in accordance with the Staternent of Recommended Practice ISORPI, "Accountln8 and Reportin8 by Charities" and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Ipubli5hed October 20191 Charitie5 SORP IFRS 1021. the Companies Art 2006 and Charitie5 Art 2011. bl Group Attounts These financial statements consolidate the results of the charity and its subsidiary company. St David's Promotions mited. Intra-group tradin8 is eliminated on consolidation. cl Company Status The charity is a company limited by guarantee_ The members of the company are the trustees narned on page 4. In the event of the charity being wound up, the liability of the Trustees in respect of the guarantee is limited to a sum not exceeding £10. dl Fund Accountln8 The general funds are unrestricted fund5 which are availzble for use at the discretion of the trustees in furtheranee of the general objectives of the charity and which have not been designated for other purposes. Designated funds cgmpri5e unrestricted fund5 that have been set aside by the trustees for particular purposes. Rest¥icted lund5 are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charily foi particular purposes. The cost of raising and administering such funds are charged a8ainst the specific fund. Investment income and gains are allocated to the appropriate fund. el Incoming Resources All incoming resources. including grants that provide core fundin& are induded in the SOFA when ihe charity is legally entitled to ihe income and the amount tèn be quantified wtth reasonable accuracy. el51 Legacie5 For legacies, entitlement IS the earlier of the charity being notified of an impending distribution which can be quantified or the lega￿ being received. eliil Gifts in kind Gifts in kind donated for distribution are induded at valuation and recognised as income when they are distributed to the projetts. Gifts donated for resale are included as income when they are sold. No amounts are included in the financial statements for services donated by volunteer5. elllil Grants receivable Non capital expenditure 8rants received are set a8asnst related expenditu￿ in the SOFA as ènd when expenditure occurs. Capital expenditure grants are recognised on the balance sheet when they are received and amortised over the expected useful lives of the capital item to which they rdate or over the term or conditions of the grant. whichever 15 the shorter period. Page IS Hosbis Dewi sant St David's Hospice Notes on Consolidated Financial Staternents {cont.I For the year ended 31 December 2022 Resources Expended All expenditure is accounted for on an accruals basis. inclusive of any VAT which cannot be recovered. and has been cIès5ified under headings that aggregate all costs related to the category_ Where costs cannot be direcily attributed to particular headings they have been all¢xated on a basi5 con515tent with use of the resources. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminatbn8 information in support of the charitable activities. Patient care costs are those tosts incurred directly in support of expenditure on the objects of the charity- Management and administratton costs are those incurred in connection with administfation of the thèrity and compliante with constitutional and staiutory requirements. 81 Tan8ible Fixed Assets Depreciation is provided on all tan8ible fixed a$5ets at rates calculated to write off the eosts over their expected useful economic lives as follows.. Hospice Building Haf3n Dewi Sant. Bangor Furniture. fittings and equipment Motor vehicle Shops Fixtures Holyhead Project Over 50 year5 Over 28 years 25% reducin8 balance 25% reducing balance 25% reducin8 balance Over 30 year5 h} InvestmÈrts Investments are stated at market value at the balance Sheet date. The SOFA includes the net gains and losses arisin8 on revaluations and disposals throughout the year. The investments in subsidiary undertakings are valued at the nominal value of the Share capital. il Stock Stock consists of purchased goods for fundraising. medical stocks and catering provisions_ Stocks are valued at the lower of c05t or nel reali5able value. Items donated ftsr resale or distribution are not included in the financial statements until they are sold or distributed. jl Pension Costs The Company has defined contributions to three pension schemes designed to provide retirement benefits based upon the level of contributiors made. The three schemes are the NHS Pension Scherne, St David's H05pice Group Pension Plan and National Employmer)t Savings Trust INEsn. The costs of prwdin8 these benefits are charged to the statement of financial adivities in the year in which they are incurred. Whilsi a defined benefit scheme. the NHS Pension Scheme's liability for ihe charity is that of a defined contribution scheme. The funds are held separately from the H05pice's and the scheme 15 adrnini5tered by the Government and therefore does not require the same level of disclosure as that of a benefit scheme by the charity. The Company also makes defined contributions to the St Owd's Hospice Group Pension Plan. The funds are held sep3rately from the Hospice's and administered by Standard Life. kl Finance and Operatlng Leases Rentals applicable to operating leases are charged to the SOFA over the period in which the tosts are incur¥ed. Assets purchased under finance lease are capitalised as fixed assets. Obligation5 under such agreements are included in Creditors. The difference between ihe capitalised cosi and the total obli8ation under the lease represents the finance chèrges. Finance charges are written off to the SOFA over the period of the lease so as to produce a constant periedit rate of char8e. 11 Irrecoverable VAT Irrecoverable VAT is analysed separately and Included within the miscellaneous support Costs allocate(I to chariiable activities. Page 16 Hosbis Dèwi Sant St David's Hospicé Note50n Consolidated Financial Statements For iheytor ended 31 D¢th￿ber 2022 Int•mefrom dOr￿tIo￿and l*ties zo 2011 Donations and •Fts Grarts LeEacies 568,319 S￿1.49% 263.134 325,131 2.196.758 I￿44.$70 3.028.211 2.1￿.199 Income from donatirin5 and legac￿5 was É3,028.211 12021.. £l7fLI,1991 of £236.$54 12021.. 5.3261 wa5 attributable to rest￿le￿ fvn¢Js and £2.791.65712021". £2.154.8731 was attributable to unresiirted Mnds. In¢omefrom thatiiableartl￿Ies 2022 2021 Fundraisin8 Income Merchandising Income 477.070 1553.358 467.E4 1,454.174 2.030.428 1.921.778 The Merthandisin8 irKome 1$ generated by ihe sale of dcK*ted 8r*)ds and purchwd goods throu8h Various Hospi£e Shtsps The total income in 2022 and 2021 ¥ras attribJt¥bleto unrestitttd funds Incomo fromother tradins attl￿tIeS charity own5 the wTrkile of the issued Share caprtal of St PromotKJn5 ￿fflIted, a company reostered In Wales. byway of 4 ordinary £1 shares *ith fvll votin8 riEhts. The subsidiary rvns a lottery to raise fund5 for the benefrt of the HospKe. Profit & Loss A¢¢ourtt fot Subsidiarycrynparry lolz 20II Tumove Cost of Sale5 Gross Profrt Admin Expenses 59Z.526 684.160 109.628 111.887 482.898 572.273 1142.3341 1165.1261 Operatlng ProNt 340,564 407,147 her operating income Other intEre5t receivawe and ￿M￿OrinCOrne Profli on vdiilary artNrf(ies telore taxation 26,698 io 433￿55 93 340.657 Amount dunated to Hospice 1340.4211 I433￿$5) XÈt•inÈd wofit bro￿ht fowdrd Retsined profft cathedlornard 5.280 epresented bv A55et5 186.268 IW.984 5.284 283.714 278.666 5.048 Fund5'. Share Capitsl Reserve5 5.280 5,284 5.048 Page 17 Hosbis Dewi Sant St David's Hospice Noies on Consolidated Flnancial Statements For the year ended 31 December 2022 Investment afid Other Incon 2022 2021 Investment Income 2.782 2.782 24 24 Other Intorne 2022 2021 LHB Convatt National A5semblylLocal Health Board Coronavirus Job Retention Scherne Coronavirus Hospice UKIwelsh Go¥ernment support 133.140 1.214.259 133,140 532,356 207,622 987,576 1347 399 Income from other income was £1.347.39912021.. £1,860,694) of wh￿h E117,91712021-. £nill wa5 attributable to restricted fibnds and £1.229.48212021: £1.860.6941 was attributable to unresticted funds_ Net Out8oinB/ Ilncorningl Resources 2022 2021 These are stated after chargin￿(creditIr￿I}= Auditors, Remuneration lor AuLlit Services Auditors, Remuneration lor Non-Audit SeNKes Amortisation of Governmeni Grani Depreiiation.. HospKe BuildinK Depreciation.. Equipment, lixtu￿5 & vehic Depreciation.. Lottery equipment Depreciation." Holyhead project Operzting lease rentsls.. Rent oiher 7.250 24,2LKI 125.OLK)I 73.916 106.501 5.165 19.538 6,750 22.371 I25.(￿) 73.438 80.303 4.565 19.224 257.474 34.335 257,728 None of the Trustees recefved any remunerntion or expenses during the year. Trustees indemnity insurance for the perK*d in rtow I￿)r￿rated wirhin thÈ Hospi insurance policy and is not disclosed separate Surplus incornefortheflnandal year A5 perrnitted by section 408 CornpallE5 Art 2￿)6. the holding cotnpany'5 inwme and expenditure account ha5 not ￿en included in these financ￿11 ststements. The resU￿fOr the financial year is made up as follows-. 2022 2021 Holding cornpany's resuk fo¥ the financial year 11.771 1.655.556 Page 18 Hosbis Dewi Sant St David's Hospice Noteson Consolidated Flnandal Siatements Forthe yearended 31 Dt¢ember 2022 7a 5tafl Cost5 Wages & 5èlaries Social Security Cosis Pen>on Cosis1See Note 7cl Other Costs 3￿70.130 334.607 237.285 38.457 4.4KI.479 3,695.949 292.780 198.378 30.498 4.217.&)5 Totel redun¢Jancyltermioation payff*ntsa￿u￿te0 to £7.25012021' E199JI The followin8 number olempbyees rece￿￿￿ e￿K*I￿r￿￿Q10¥er £60,OJ).. 2022 2021 £￿.(￿o- £69.999 £70.CQO- £79.999 £80.CQO- £89.999 £g),CQO. £99.999 Penyon scheme ftr empbyees earningo¥er £fAJ.tXtr. Money purchase 5cl*rre NHS SupeTrnnuation scheme Pension costs fo¥employees earniwover £60XO).. zozi Money purchase scheft NHS Superannuation scknne 6.010 13,18S 6.123 18.8DJ 24.923 7b The average nurnberof FfE employee¥ anafysed by fvnciit¥i was= Medical. Nur5in& Piofe551onal &Te£hnical Administration Mefchandi&n8 & Fundrnisin8 Support Stsff Lotterystaff 58.0 55.5 14.0 63.0 i&0 57.0 Employed by the Companv 142.0 153.5 7c Penslon xhemes Natureof 5cherne tstsnding contributions at Ihe year end lou Money purchase scheme NHS Superannuati¢)n scheme 79,749 157,536 237.285 66,1 132.278 198.378 12,457 20,964 33.421 23.469 26.478 7d Ag¢re4ate employee benef￿ otr, 2021 Key mana8ement pe￿onnel 436.Q70 509,866 key rnan•gement afe the membetsofthe Senicrf Mana8ementTeam. as de5crib¢d on page 4. Page 19 2022 2011 Stoff Costs Medicil. Nurs￿ P&T.Swiwt 614.951 1614.9S8 2J$2.479 J 927 845 4.180.315 235 2J¥O42 471. 69.938 4.474 131.166 131M66 IIB.S30 144.459 103.958 Metrhandisiryind ewentf05ts Pri¥Ernry4e5&￿le￿￿Dfee5 12 11?2$5 131J66 1275 117255 JfAJW4 Pr*ntstJCosts RMls•nd Rates Utillty￿ts SQ746 57.622 260.716 145.551 263Wg Z61.R65 87.919 2019 7.193 332.S29 766.371 653.SZ6 ¥L65 5.jii 25 iÈo.Iii 177.529 163 S.16S 152.529 271 8.7 Trnvel&¥ehK Edur3rlD 26J79 1305 447 4B7.114 6L117 16. 597X*6 9.392 45,687 8.576 38.SLJ 195.447 469.768 2.746 6i4.694 k5 5916 441 Fundra&in& tsIL4w•ndrN•r￿f￿ISk¢ 3?*ofth•tc4*knw￿•￿2o22Ita6I1j$l{2fjII.. EL(￿938.. >5%) Tr•sl•Ncwts d*KtyatbibJtit40b£L305AII￿ ￿ll￿d?$*￿*￿rknt1lIMcoJtsl?o2A..Él54l.S¥￿..WY4 Hosbis Dewi Sant St David's Hospice Notes on consol￿ated Financial Statements For the year eftd￿ 31 Dteèmeber 2022 T8nglble Fixed Assets- Group Hospice fvjrnltwe Ytxt¥res & Equipment Freehold Land and Buildings Motor Vehides Shop Fixtures Holyhtad Project Lottery Equipment Tot Cost.. At l January 2022 Addition5 Disposals At 31 tjetern￿r 2022 4.942.285 281.210 2.942.307 34.418 112,497 14.875 L047.055 191.011 227.785 29.247 584.082 11.659 28.559 5.223.495 2.976.725 127,372 1.238,066 257 032 595.741 28.559 Depreclatlon: At ljanuary 2022 Charge for period Eliminated on disposal At 311)ecember 2022 2.091.738 205.120 1.020.980 73.916 754.030 81.695 196.367 11,fA)2 37.179 19,538 18,742 5.165 13.804 2.296.858 L094.896 78.244 835.725 207,369 56,717 23.907 Net Book V￿Ut= At 310e¢ember 2022 2.926.637 1.881.829 49.128 402,341 49.663 539.024 4.652 Al 31 0￿mtser 2021 2,850.547 1.921.327 48.057 293.025 31.418 546.903 9.817 Tan8iblE Fixed Assets- Charity H05pire Furnlwre rixtures & Eoulpment Freehold land and 8uildines Motor Vehides Shop Imtures Hdyhead Projert Total At l January 2022 Additions Disposals At 31 DeceM￿r 2022 4.913.726 281.210 2.942.307 34.418 112.497 14.875 1.047.055 191.011 227.785 29.247 584,082 11.659 S.194 936 2,976.725 127.372 1,238,066 257.032 595.741 Depreciation.. At l January 2022 Charge for period Eliminated on disposal At 31 December 2022 2,072.996 199.955 1.020.9 73.916 7Y.030 81,695 196.367 li.￿2 37.179 19.538 13,804 2.272.951 1.094.896 78.244 835.725 207.369 Nei Book Value: At 31 December 2022 2,921.985 1,881.829 49,128 402.341 49,663 539,024 Al 31 DeCem￿r 2021 2,840.730 1.921.327 48.057 293,025 31.418 546.903 Pale 21 Hosbis Dewi Sant St David's H05pice Notes on Consolldated Finanual Siatements For theyeartndtd 31 De¢ember2022 io Flxed Asw Investrnqnts.Gr(wp and thJvlty 2022 2021 Market Value a5 at ljanuary 2021 Additions Withdrawals Net unreali5ed investrnent gainsl Ilossesl M•rketValue as at 31 Decernber ZOZI 3,608.973 189).533 7(1),(￿0 1350.rixil 13CQ.0001 1478,777 318,445 2,780.2CO 3.608.978 Cost of l)¥estments as ai 31 DeceM￿r 2021 2,B34.280 3.147,527 20 UK 10 2011 UK 2021 Overseas In¥esimentsare represented Invesiment5 listed on reco8nised stock exthan8e5 Cash 1,150.426 283.882 1.434.308 1.345.892 1.189.892 697.295 1,887,187 1,7ZI.751 1.345.892 1780,200 1.721,751 3.fU.938 The charity fYgU￿ includes a É4 investment bein8the issued share£apital itt St Da￿d,$ Promoions Limited. Hol&inis of morethan 20% The chèrity holds m￿e ¢harb 2￿￿01the share capul ofthe frknryry>rnpar￿BS= Crrfnpany Countryof rewstfation or incoryoThti Shares held Subsldlary uThdertaklres St Oavid's Promotlons Umrf(ed Enwand 8fidWales Ordinary Ic The principal a¢tNifyof 5t Da￿d,5 Promotions bmited For Ehe Last relevant finanaal period wJ5that of thE runnin8 of a lotteryto réise fund5 forthe benefft of the Hospio. Debtoys Gmup 22 harfty 2022 Group 2011 2011 Amourf5 tslling dye vAihin one )tar= St David's Promotion5 ￿M(£e￿ The Naiional Assemb￿/ lr￿al Heath 8oard Le8ary Debtor5 Othef Oebtors Prewrnent5 97.715 20.513 2.227.864 239,155 10).073 2.685,320 174,903 113.391 113.391 1.165,068 L165,1)68 24L066 241.066 97,423 1791.851 20.513 2.227.864 Z39.155 103.251 2.590.783 1.620.021 St David's Promotions Lwnited 15 the￿hd￿C¢￿￿ed 5ub5itharyirddin8a5a IDttery company for the of St Oavid's Hoswce. rÈditors.' amounts lallln8 due wlthln one ye•r Grty• 2011 thar 2021 22 2021 Tradecrediiors Other Creditors Taxarion and sotsal security costs Deferred Income Accrvals 577.11 89,393 105.849 574.471 575,103 23,328 115.531 84.054 134.581 932,599 558.fA)6 22.701 112.948 104.810 k59.311 I,(M)9,7flJ 158.550 926.491 134.581 828.836 Lkferred income relates to lottery 5take5 recewed in advance by St Oavid's Promoth)ns bmiied These are released to the profit and105s a¢¢ount as a¢)d vihen players are entered iniothe weekwcash prize draw. Page 22 Hosbis Oewi Sant St David's Hospi Notes on Consolidated financial Statements For the year ended 31 December 2022 Welsh Government Grant Grtyip 2022 tharity 1022 Group 2021 Charity 2021 Received and receivable: Al l January 2022 Recewable during year At 310ecember 2022 250.000 250.( 250.000 250.000 250.000 250.IJXI 250.000 250,000 Amortisation.. At l January 2022 Credit to statement ol financkil attwities At 31 Oecemlxr 2022 225.000 25.000 250.000 225,(fft1 25,000 250,000 2CM),000 25,000 225.000 200,000 25,000 225,000 Net tjalance at 31 December 2022 25.000 25,000 The GovernrneThtgrant disdgsed above has been offset againstthe expenditure towhich it ￿lates. The grant is repayab￿. in whole part. rfthe Erdntorconsidets tertsin terms or condition5 01 the 8ront are not bein¥ fvlfilled. 14 Statement of Funds At ljanuary 2022 Investment In(offle Expendttitre gainsliosses At 31 December Z022 Transfers Unrestrittod Funds General fund Chafity subsidiary Group Refier¥l fund 7.981,648 5.044 7.986.692 6.OS4.256 592,619 6.646.875 15,867,4951 251.962 16,119,457) 1478.7771 11.159,5791 340 421 1478.7771 11.$00,0001 6.530,053 5.280 6.535,333 Deslgnated Funds Hospice ￿fUbIShMent Group Oesignated Fur 1.5¢)),000 1.5¢)0,000 1.500,000 1,500.000 Total unre5trirted fvnds 7.986.692 6.646.875 16.119.4571 478,7771 8.035.333 At l January 2022 Invesknent IncomE EXpendi￿re 8ains11￿5es At 31 De￿mber 2022 Tra￿eT5 Restrirted Funds Charity Subsidiary Group restricted fund 177.527 354.471 1391.3411 140,657 177.527 354.471 1391.3411 140,657 Analysis ol Net Assets between Funds Unrettricted Funds Restricted Funds Total F￿Thd balances at 31 Decernber 2022 are represented by.. Tan8ibl& fixed assets Investments Net curreThtassers 2.863,409 2.780.196 2.391,729 8.035.334 63.228 2.926.637 2.780,196 2.469,158 8,175,991 77,429 14D.657 Page 23 Hosbis Dewl Sant St David's Hospice Notes on Consolidated Financial statements For the year ended 31 December 2022 15 Capital Commitments 2022 2021 Authorised bur not contracted for 16 Post Year End Legacles The H05pice h35 not been notified of any Significant le8acies as at rhe year end which have not been attrued for in these accounts. 17 Lease Comrnitments The leases for the shop in Uat)Thot is re-negotiated on an annual basis and the remainder of the leases expire a5 follows,. Porthmado8 Mèrch'24. Distribution Centre18 Builder Street) July'23. Llandundo (ktober'28. F￿11hell May 28.. Criccieth Jan'25, Hadech January'23. Harlech IHigh Stl. December'22 Llandundo Junction July'23. Conwy Jan'23. 8eaumaris April'23. Craig Y Don121 Queen5 Road) April '26 Colwyn Bay (Station Road) Rolling Lease. Mochdre Distribution Centre Expired May'22, Blaenau FfestiniogJuly'23. Bala January'24. Dolgellau (Harri's) Septembef '24. Menai Bridge C*tober'23. Uan8efni Marih'25 Holyhead August'24. Gaerwen December'24. During the year The Hospice leased two cars under an operatin8 lease a8reemeni the iotal future minimum lease payments under f￿-CancelIable operating leases are disclosed below. At 31 Decernber 2022, the company had annual commitments under non-cancellable operatin8 leases as follows.. Land and Building5 1022 2021 Other 2022 2021 E¥piry Date.. Within one Year Between one and five years More than five yE3rs 160.631 254,940 27.850 239.125 366.701 71,650 16.481 8.974 30,280 17.403 Page 24 Hosbis Dewi Sant St David's Hospice Notes on Consolidated Financial Statements For the year ended 310ecember 2022 18 Related Parties St David's Promotions Limited is a wholly owned subsidiary of St David's Hospice. During the year. St David's Promotions Limited donated £340.42112021= £433.8551 to St David'5 H05pice. Balance5 due from St Oavid's PromotlOn5 Limited to St Da￿d,5 Hospice at the yèar Ènd in respett of these tiansactions amounted to E97.71512021." £174.7031. 19 Controlling partv St David's Hospice group is controlled by the Trustee5. 20 Cash generated from operations Tgtal 2022 Total 2021 Net Incorne for the year 490.546 1.337.111 Elimination of non-operating cashllows- Investment intome Depreciètion of tangible fixed assets Amortisation credited to Statement of Financial Artivitie5 12.7821 205.121 125,0001 1241 177.532 I25,￿0) Operating ￿ShfloWS before mo¥ements in working ¢apital 667,885 1.489.619 Ilncreasel l Oecrease in Stock Ilrkcrea5el / Oecrea5e in Debtor5 Increase I (Decrease) in Creditors Net investment Igainslllosses 3.016 1970.7621 77,161 478,777 121.0971 1759.0251 86.381 1318.4451 Cash 8enerated from operatlons 256.077 477.433 Page 25