Hosbis Dewi Sant
St David's Hospice
(A Company Limited by Guarantee)
Annual Report and Consolidated Accounts
For the year ended 31 December 2023
Charity Number 1038543
Company Number 2922828
*ADCGAFBT¥
2610912024
COMPANIES HOUSE
#244
27

Hosbls Dewi Sant
St David's Hospice
Index to Annual Report and Accounts
Year Ended 31 December 2023
Contents
Page
Chairman's Review
Trustees Annual Report
Reference & Administrative Details
Structure, Governance & Management
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

Hosbi5 Oewi Sant
St David's Hospice
Chairman's Review
For the year ended 31 December 2023
Welcome to the Annuil Report ol st David's Hospice for 2023.
As I'm sure you will know, 2023 was a difficult year, in financial terms, for many organisations, families and individuals. Although the
challenges of the Covid pandemic are largely behind us, its consequences on our society are still very feal. Cost of living pressures; high
Inflation- particularly for health care services.. a squeeze on rhe public sector and Increased competition In recrLtriting skilled staff have
all contributed io formidable challenges for St Oavid'5. All hospices in the UK have faced these pressures - as you may have seen in
television reports. At least one UK hospice has gone into administration.
To face those challenge5, the St Oavid's Hospice Board and ManaBement Team have operated In a new, more focussed ind inteBrated
way in drivlng costs down and maximisin8 Income generation, where we can. Despite that, we end 2023 in è considerable ovef-spend
position of approxirnately £1.2 million
although that would have been £400,000 less had we been able to include a Welsh
Government arant that wa5 notified after the year-end.
Fortunatelyi we have been able to 'carry' that 2023 overspend, thanks to our communities, support over the years in building a solid
reserve. It Is true that our aveia8e financlal performance over the past few years has been Bood, thanks, again, to the level of support
we recelve from those communities.
These Account5 Outline the details of the financial activities in the H05pice in 2023, and we hope that they give reassurance on the
professlonal and serious manner in which we manage our service.
I'm delighted lo also report thèt, whilst we have tackled these flnancial challenges, our clinical services have continued to thrive. The
Board receives regular 'anonymised' reports on clinical matters, plus extensive clinical performance information on our service,
tOEether with feedback from patienis and their families, which glves us considerable reassurance on the quality of care we provide.
For all of us at St Davld's, the ability to support our patients and familles, at thelr most tryinB times, iemalns the prlorliy and is an
enormous prlvllege and honour.
Although 2023 was predicted to be, and became. a difficult financial year, I remain very optimistic for the future of the hospice. Whilst
the details ale awaited in next year's report, at the tlme of writln8 we are seelng real signs of improvement In income generaiion In
2024. In addltion, Welsh Government has recogni5ed the challenges facin8 hosplce5 throu6hout Wales and are now working on
central commissioning unit, which will, it appears, provide some direct funding for the servSce. That should level out the regional
variations Sn NHS financlal support we currently endure.
The Board of St David's Hospice is in the process of some change In personnel. Roy Orinkwater retired in 2023. after many years of
8iving sound advice and support, particularly in the matter of estate management. More recently, Sioned Edwards and Arfon Thomas
have also retired - unfortunately because of ill.health. Both gave such a lot of their own time and expertise to ihe hospice service,
when in Gwynedd and Angle5ey Hospice at Home and at St David's Hospice. We send our best wishes and gratitude to all of them.
In 2023 we welccmed Charles Hawkin5 to the Board. Charles has had a very successful career in investment management, and he
brings outstanding finantial knowledge, experience and skills to our decision-making. More recently, we have welcomed two
additional Trustees- Alwena Potter and Wyn Thomas. Alwena and Wyn have attended many of our committee meetings as 'As50ciate
Trustees, over the past year, and I know that both will add considerable value and expertise to the Board.
Pa@e I

Hosbis Dewi Sant
St David's Hosplce
Chairman's Review
For the year ended 31 December 2023
Finally, the term5 of office of Mandy Hughes, our vice chair, and myself come to an end at this year's AGM. I do want to
personally thank Mandy for her commitment to the service and her unstinting and professional advice to me over the past
seven years. Mandy has been greatl
For me, retiring from St David's Board will bring subst3nti31 changes at a personal level - a true bltter-sweet moment! But I
look back with gratitude and a real sense of privilege at being able to play a small part in such a valued service. I will lon8
remember some of the moments of care. devotion and dedication that I have witnessed - whether that is in the kindness
and duty shown to our patients, or the occasions when our volunteers and staff have gone 'above and beyond, in furtherin8
the cause. But more importantly, I hand over the Board chairmanship to Richard Thomas, who has been a long-standin8
Trustee with us. Richard is held in the highest esteem by all of us at St David's and it is a massive reassurance, to me, to see
Richard take the reins. I know he and St David's will be a Breat success.
Thank you.
r Lyndon Miles
Chair of Trustees
P3ge 2

Hosbis Dewi Sant
St David's Hospice
Trustees Annual Report for the year ended 310ecember 2023
Reference & Administratlve Details
Dirertors and Trustees
At the date of the report, there are currently 11 Trustees of St. David's Hospice. The Trustee5 who served during the year
were as follows'.-
Dr L Miles
Chair of Trustees
Ms l Leslie
Honorary Treasurer
Mrs A Hughes
Vice Chair of Trustees IRe518ned June 20241
Mr R Drinkwater IRe518ned September 20231
Mr R Thomas
Ms E lones
Dr H Edwards
Or S Macvicar
Mr A Thomas IResi8ned May 20241
Mr D Wllliams
Mrs S Edward$ IResi8ned AprS120241
Mr D Hardy
Mr C Hawkins {Appointed February 20231
Chlef Emecutlve
Mr T Pritchard
Compjny Secret•ry
Ms J Leslle
Registered Office
Abbey Road
Llandudno
Conwy LL30 2EN
Reglstered Company Number
2922828
Reilstered Ch¥rlty Number
1038543
Re£lstered Auditors
Pritchert & Co Buslness Advisers Limited
Chartered Accountants & Statutory Auditor
16 Wynnstay Road
Colwyn Bay LL29 8NB
Bankers
Lloyds TS8
22 Mostyn Street
Llandudno, LL30 2RU
Investment Managers
Rathbones Investment Management Ltd
Port of Liverpool Building
Pier Head
Liverpool
L3 INW
Sollcltors
Lanyon Bowdler Solicitors
1 & 2 Connaught House
Riverside Business Park, Benarth R03d
Conwy. LL32 8VB
Page 3

Company Number: 2922828
Hosbis Dewl Sant
St David's Hospice
Trustees Annual Report for the year ended 31 December 2023
The Trustees of St David's Hospice. who are also Directors for the purpose of the Companies Att 2006, submit their annual report and the
audlted accounts ol the Éroup for the year ended 31 Detember 2023. The Trustees have adopted the provisions of the Statement of
Recornmended Practice ISORPI 'Accounting and Reporting by Charities" applicable to charities preparing thelr accounts in accordance with
the Financial Reportln8 Standard opplicable In the VK and Republic of Ireland IFRS 1021 Ipubllshed In October 20191.
Strurture, Governance & Management
Constitution
St D•vld's Hosplce Is ihe pafent compony of 1 8roup, Ilmlted by guarantee but not havin8 share capltal (Company No. 29228281, Ind Is
re8lStered as a Charlty under ihe Charltles Act 2011 (Registered Charity Ilo. 1038S431. The group was Set up in 1996 and is governed by J
Memorandum and Ariicles ol A550Clation whlch were lasi amersded In June 2013. The management ol the group Ss vested Sn a Board of
Trustees.
Group Status
The group Is limlted by gu•rantee. The liabllity of the Trustees Is Ilrnited io a sum not exceeding £10. belng the amount that each Trustee
undertakes to contribute to the a$5ets of the chaflty In the event of it bein8 wound up while helshè is a Trustee or within one year after
helshe ceases to be a Trustee.
Recrultment of Trustees
Trustees afe appointed by the Members after nomlnatlon In accordance with ihe procedures detailed in the 8roups Articles ol Association.
Appointing and keepin8 the rlght Trustees is an Importani part of governin8 rhe group. It need5 3 balance of skills and types ol peopl•.
Trustees coniinue to utillse rhe revlsed Inlormatlon pack whlch summarlses the ro1¢5 and responslbilities ol a Trustee,
Tht Board of Trustees Is compiled ol th• followln8 who served durlng th• year..
Or L Miles- Chair of Trustee5
Ms J Leslie- Honorèry Treasurer
Mrs A Hu8hes- Vlce Chair of Trustéés IR*sl8ned June 20241
Mr R Diinkwater IResl8ned Septernber 20231
Mr R Thomas
MS E Jonts
Dr H Edwartls
Dr S Macvicar
Mr A Thornas IResi8ned M•y 20241
Mr D Willlarns
hAr5 S Edwards IResl8ned Aprll 20241
Mr O Haidv
C Hawkins IAppointed February 10231
Mrs A Poiter and Mr W Thom45 wère appolnted is directors after 31 Oecember 2023 but prior to the date of thls report.
Indurtlon and trainln8 of Tru5tee5
Trustee5 teceive a comprehenslve Induction pick to acqualnt them wlth St David's Hospice pollcy and piactlce, its alms and objectives,
manè8ement and Bovernan£e, also wilh what is expected of them under eh4rity law. with partlcular reference to Charity Comrnis51011
8uldance publlcailons.
Key management remuneration policy
The Hgspice rnanagement team is headed by the H05pice Chief Eyecutive and cornprises the followln8 staff.. Director of Care. Medical
0Sre¢ior, Commtrtial Diie¢tor and Direiior of Finanté and Resources.
Arran8emenis for settlThg pay and rernuneration are undertaken by the Board of Trustees.
Related Parties
St David'5 H05pice has one tradln8 subsldiary, St David'5 Prornotions Limiied. St David's Promorions Llmited runs a lotiery to raise funds fov
the ber4efit ol the Hospi<e and donates ill profits to St David's Hospice.
Page 4

Company Number: 2922828
Hosbis Dewi Sant
St David's Hospice
Trustees Annual Report for the year ended 31 December 2023 (cont.1
Governance & Internal Control
The B03rd of Trustees meets Ilve times a year to direct the management and governance of the group. This includes reviews ol
the group's policies and protocols, developments to services. finances and fundralsing. The day to day management of the 8roup
Is delei•ted to the group Chief E¥e<utive and the 8ioup ManaRemeni Team.
Statement of Trustee Responsibilities
UK Company and charlly law requires the Trustees to prepare accounts for each linanclal year, which glve a true and fair view ol
the state of affairs ol the Broup ai the end ol ihe lin4nclal year and ol the Surplus or deflc5t lor that perlo¢. In preparln8 rhls
nnu)l report. the Trustees have..
Sèlètted suitable attountina policie5 and then applied them consistèntly.
Observe the methods Ind prlnclpl•s In the Ch•rltles SORP.
Make jud8ements and estimates that are re350nable and prudènt.
Stated whether appll¢8ble accountlni standards have been followed, $uble¢i to ony material deparrures dlsclosed and
txplalned In the accouThts.
* Prepared flnanclal statements on rhe golng concern basis unless It 55 Inappropriate to presurne that the Broup will contlnue In
bu5ine55.
The Trustèès havè r*sponslblllry for ensuring that th• 8roup h•5 appropriate sy$tems ol controls, fln•nc5al •nd orh¢rwlse. They
are èlso responsible for keeplng proper accounting records whlch dlsc105e wlth reasonable accuracy at any tlme the flrsancial
Posltion ol the 8roup and enable thern to ensure tbat the annual report and a¢¢ounts comply with the Companies Act 2006 and
the "Statement of Recommended Pra¢tlce'. Accountin8 and Reportlng by Charitie5" They are also respon51ble for safe8vardln8 the
assets ol the group and hence lor iakih8 reasonable steps for the prevenilon and deiectlon of fraud and other Irre8ularitles.
In accordance with company law. as the 8roup'5 directors. we certify that..
So far as we are aware, therè 1$ no relevant aL*dir Inlormation of which the 8roup'5 auditors are unaware., Jnd a5 the directors
ol the group we have taken all the steps thar we ou8ht to have taken In order lo mak• ourselves aware of any relevant •udlt
Informatlon and io establlsh that the Broup'5 audltors are aware of that Inforrnation.
The group's board sub groups have tontinued to meet fhrou8hout the year - these group5 deal with speclllc opera¢in8 pollcy lor
Income fjeneratlon, Cllnical Governance, Flnanco and HR. These sub groups have only Ilmlted 3uthorliy from the 8oard to aci
autonomou51yTr however they mostly make recommendations for the 803rd lor it5 consideration and approval.
The 8roup is reg5stered with Health Inspe¢torate Wales IHIWI as an independent adult Hospice, providin8 eighteen in-patient beds
and up lo ten place5 In Its day unit. It has to demonstrale that it complie5 Wlth the Care Standard$ Act 2000 and assoclated
reBulatlons, whlch include 3 set of Natlonal Mlnlmum Standards. In addltlon, The Welsh Government sets down speclflc objectives
in relation to the delivery of specialist palliative care which are directly linked to Brant funding.
The 8roup Is a member of the national charlty Hosplce UK whi¢h is an advisory body. The perlodlc inspectlons by Health
Inspecttsrate Wale$ provlde% an Indtpendent Check that the group is ffllnlrnlsln8 rlsk$ and optratln8 to NatSonal 8uidellnes.
Risk Management
Trustees and staff aftnually revlew major rlsks to whlch the 8roup may be exposed uslng rhe protess recommended by The Chbiitv
Commission. System5 have been establlshed to mitTr83te any risks which have been identSfled and the Strategic Risk Register is
re8vlarly monitored and updates given to the Finance and HR Committee on a regular basis. Internal risks are rninimised by the
Implementation of proredure5 for the authorisation of financial tran5aCtion5.
Page 5

Company Number: 2922828
Hosbis Dewi Sant
St David's Hospice
Trustees Annual Report for the year ended 310ecember 2023 (cont.)
Objectives of the Group
The maln obJectives of the group are..
The running of an adult palliatwe care facility providing symptom relief, respite and end of life care
Promoting or encouraglng research into the care and treatment of persons sufferin8 from progressive, life threatening
illnesses
Promoting, encouragin8 or assisting in the teaching or trainin8 of students in any branch of medicine, nursing or allied
Providing psychological, social and spiritual help for patients and family of patients.
Public benefit statement - Aims, Activities and Achievements
The aim of the group is to provide the hlghest qualitv speclali5t palliative care for the people of North West Wales. The main
activity continue5 to be the delivery of specialist medical and nursing seNices to patients and their families and carer5 by a skilled
and dedicated multi-professional palliative care team. The group has eighteen registered beds. 14 in Llandudno and 4 in Holyhead,
providing symptom relief, respite and end of life care. There is also a Day Therapy service (Hafan Oewi Santl providing
appointments In Llandudno and Ban8or. The services include physiotherapy, bereavement/counselling, art and complementary
therapy. We also offer a FAB IFatl8ue, Anxiety and 8re3thlessnessl group and have Introduced a new Parkinson's Clinic which
started in October 2023.
The Hospice received 394 referrals in 2023 of which 288 were odmitted to our inpatient unit in Llandudno and Holyhead.
Bereavement support, advice and counselling services were provided to ovei s￿ people during the year by our soclal worker and
counsellor. 663 physiotherapy sessions were carried out and 1942 people received art and complimentary therapy.
The Trustees believe that the objectives and services provided by the group, reflected In the above notes, are compllant with the
duty In settion 17151 of the 2011 Charitie5 Art to have due regard to the Charities Commission Guidance on Public 8enefit.
The Trustees belleve the following strategies further demonstrate publlc benefit.
Maintain and improve upon the highest quality and standards of care and services for patients, thelr families and carers.
Ensure that the resources within the group ère effectively managed and that in the future 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 wlll contlnue to listen and responrj to the opinions ot our patients, the general publlc. statt and other protessionals about
what they want from us.
Working Wlth other palliative care providers and partners we will continue to plan and deliver services that benefit all patients
in our area.
Page 6

Company Number: 2922828
Hosbis Dewi Sant
St David's Hospice
Trustees Annual Report for the year ended 31 December 2023 (cont.)
Financial Review
Review of Activities and Financial Position - Hospice
Details of the results for the year are shown in the Statement of Financial Attivities and notes forming part of the Financial
Statements.
For 2023 the Trustees report a consolidated deficit for the year of £1,208,919 12022,. surplus £11,771) and consolidated
accumulated funds of £6,967,07212022'. £8,175,991). The financial position of the group is set out in the balance sheet on Page 13.
The free reserves of the group amounted to £3,454,955 12022,. £3,749,354) which equates to approximately six months of
expenditure.
Total Incomlng Resources
Total incoming resources decreased on 2022 by £l.516,528 or 22%. Income from our shops, ecommerce and legacies decreased
compared to their 2022 totals.
Fundraising and Fundraising Standards Information
In 2023 fundraised income totalled £409,016.
No external professional fundraisers were employed durin8 the financlal year. Four commerclal agreements are in place wlth local
businesses Itotal value £3,56012022., £1,90411. In 2023, no formal fundraising complaints were received relating to actlvlties by the
charity.
Hospice Shops
Income from our Hospice shops contlnues to be a major revenue source to the charity - we are always looking to maximise our
income and look for additional new shops. We are continuing to develop our ecommerce income to adapt to current buying
trends.
St David's Promotions Ltd
St David's Promotion5 Ltd is a wholly owned subsidiary and operates the St David's Hospice Lottery.
Page 7

Company Number: 2922828
Hosbis Dewi Sant
St David's Hospice
Trustees Annual Report for the year ended 31 December 2023 (cont.}
Investment Policy
As part of the remit of Finance Sub Committee, all investments are reviewed on a twice-yearly basis with external advlsers.
The group appointed a new investment firm (Rathbones Investment Management Ltd.) in 2023 replacing Oraaon Investment
Managers Ltd and Investec. Rathbones have been given discretionary management of the portfolio by the Finance Sub
Committee. This committee report5 to the Board of Trustees on a quarterly basls or as necessary and determines the
appropriate balance between short and long-term reserves. The investment objective for short-term reserves Is to preserve the
capital value with a minimum level ol risk. The investment objective for long.term reserves is expected to at least generate a
return In excess of inflation over a 5.year rolling term, using Level 3 lon the risk scale of 1-61.
The split of Investments Is currently a5 follows:
Flxed Interést Securities
EqLJitie5
Dlversifiers
Cash pendlng held as part of the investment portfolS0
19.3
60.4
12.8
ReseNes
During the year the group's total reserves decreased from £8,17S,991 to £6.967,072 of which £2,856,265 is held In tangible flxed
assets. The remaining reserves amount to £4,110.807 which Trustees consider to be a reasonable amount glven the current
economlc ¢llmate.
Plans for Future Periods
The cost ol Ilvln8 crls15 a¢fOSS the UK Impacted on our ability to ralse funds during 2023. although fundr¥lsin8 and donatlons
were much stronger toward5 the end ol the year. Income from Le8acy Bifts reduced by 65% to £774.695 from the amount
rèceived in 2022 1£2,196,7581. We were notified of legacy Eifts of £107,000 which have not been recognised as income, as
probate had not been granted at the end of the year. In addition. substantial Brant fundin8 towards our refurbishment
prograrnme was secured late In 20231£400,0001. The conditions of the Brant wlll not be met untll works are completed in 2024
at which time the grant income will be recognisetl.
Additional funding of E425,000 has been reteived in 2024 from the Welsh Government to help with the cost of living crisis. Thi5
Is not provided for in the 2023 accounts as the Welsh Government had advised that the additional fundin8 was unavailable at
the 31" December 2023.
It is the 25 Anniversary of 51 Davids Hospice in 2024 which provides an opportunity for us to enhance our community
enBagement and develop further supporters. In order to ensure the longevity of the Hospice premises in Llandudno, reseNes
have been designated to begin a programme of much needed iefurbishment. In 2022 we designated £l.Sm for this purpose
which, given the overall reduction in our ieserves at the end of 2023, has now been reduced to £O.Sm with the shortfall being
replaced with Grant funding. The refurbishment will commence in the second half of 2024.
Dr L Miles
Chair of Trustees
Page 8

Company Nurnber: 2922828
Hosbis Dewi Sant
St David's Hospice
Independent Auditor's Report
To the Members of St David's Hospice
We have audited the finantial statements of St David's Hospice Limited (the 'parent charitable company'l and its subsidiary St Oavid's
Promotions Llmlted (the 'grovp'l for the year ended 31 December 2023 whith comprise Consolidated Sratement of Financlal Activities,
Consolidated and Charity Statement of Financial Position, Consolidated Cash Flow Statement and notes to the financial statements,
including a summary of significant accounting policies. The financi31 reporting framework that has been applied in their preparation is
applicable13w and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accountin8 Pfacticel.
In ¢)UT opinion, the financlal statements:
glve a true and fair view of the state of the 8roup's and the parent charitable company's affairs as at 31 December 2023 and of the
groups Sncoming resources and application of resources. includlng Its income and expenditure, for ihe year then ended, land of the
undertaking5 included in the consolidation as a whole, 50 far as concerns the members of the Broup',I
have been properly prepared in accordance with Unlted Kingdom Generally Accepted Accounting Prartice; and
have been prepared In accordance with the requirements of the Companies Act 2006,
Basls for oplnlon
We conducted our audit in accordance with International Standards on Auditing IUKI11SAs IUKII and applicable law. Our responsibilities
under those standards ale further described in the auditor's responsibilities loi the audit ol the financSal statements sectlon of our
repoit. We are Independent of the group and parent charltable company in accordance with the ethical requlrements 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 hive obtained is sufficient and
approprlale to provide a bas15 for our opinion.
Conclusions relatln8 to golng concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounlin8 in the
preparation ol the fbnanclal stètements Is approprlate.
8ased on the work we have performed, we have not identified any material uncertaSnties Telating to events or condifions that,
individually or collectively, may cast significant doub't on the group's or parent tharity's ibility to continue as a going concern for
period of at least twelve months from when the financlal statements are èvthorised for issue.
Our responsSbillties and the responsibllities of the trustees with respect to 80in@ concern are described in the relevant sections of thls
report
Other Infomiatlon
The other information comprises the information included in the trustees, annual report other than the financial statements ?nd our
auditorfs report thereon. The trustees are responslble for the other information contained wlthlng the annual report. Our opinion on
the financial statements does not cover the other information and, except to the extent otheiwise explicitly stated in our report. we do
not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent
with rhe financlal statements or our knowledge obtained in the course of the audlt or otherwSse appears to be materially misstated. If
we identify such rnaterial inconsistencies or apparent material misstatements, we ale required to determine whether there is a mateiial
misstaiement in the financial statements themselves. If, based on the woik we have performed, we conclude that there is a material
misstatement of thi5 Other information, we are required to report that fact.
We have nothlng to report in thi5 regard.
Page 9

Company Number: 2922828
Hosbis Dewi Sant
St David's Hospice
Independent Auditor's Report
To the Member5 of St David's Hospice (cont.)
Opinions on other matters prescrlbed by the Companies Art 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the trustees, report for the financial year for which the flnancial statements are prepared is consistent wlth the
financial statements,. and
• the trustee5 report has been prepared in accordance wlth applicable legal requirements,.
Matters on which we are required to report by ejtception
In the IIBht of our knowled8e and understanding of the Eroup and parent charitable company and its environment obtained in the Course of
the audit, we have not identified material misstaiements In the trustees report.
We have nothin8 to report in re5pert of the followln8 matters in relation to whlch the Companles Act 2006 and the Charitles Act 2011
requires us to report to you if, in o¢Ji opSnS0n'.
• adequate and sufficient accountin8 records have not been kept by the parent charitable company, or returns adeouate for our audit have
not been received from branches not visited by u5,. or
the parent charitable companvs financial statements are not in a8rèement with the accounting records and returns,. or
certain distlosures of directors, remuneration specified by law ale not ma¢Je', or
• we have not received all the Informatlon and explanations we require for our audSt.
Responsibllilies ol trustees
As explained more lully in the trustees, responsibilities statement set out on pige 5 the trustees (who are also the directors of the charitable
company for the purpose5 01 company lawl are responsible for the preparatian of the financial Statements and for being satisfied that they
8ive a true and fair view. and for Such intèrnal control as the trustees determine Is necessary to enable the prep?ration of financial statements
that are free from material mlsstatement, whether due to fraud or error.
In preparlng the llnancial statements, the trustee5 are responsible for assesslng the group's and parent charitable company's abllity to
continue as a going concern. disclosing, as applicable, matters related to 80ing concern and using the going concern basis of ac¢ountlng unless
the Iwstees either intend to liquidate the 8roup or the parent charitable company or to cease operations, or have no realistic alternative but
to do so.
Audltor's responsibllltles for the audlt of the fiNanclal statements
Our objectives are to obtain reasonable a55urance about whether the financial statements as a whole are free from material mlsstatement,
whether due to fraud or error, and to issue an auditols report that includes our opinion. Reasonable assurance is 3 high level of assurance,
bLSt is not a guarantee that an audit conducted in accordance with ISA5 IUKI will èlways detect a material misstatement when it exists.
Misstatement5 can arise Irom fraud or er¥or and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detectlng Irregularities, including fraud is detailed below,.
Irregularities are instances of non-compliance with laws and regulations. The oblertlves.of our audlt are to obtain Suff￿lent approprlate audit
evidence regarding compliance with laws and regulation5 that have a direct effect on the detemination of material amounts and disclosures
in the financial statements. to perform audit procedures to help i(Jentify instances of non-compliance with other law5 and regulations that
may have a material effett on the financial statements, and to respond appropriately to identified or suspetted non-compliance with laws
and regulations identified during the audit.
In relation to fraud, the objectlves of our audit ale to identify and assess the risk of material rnisstatement of the financial statements due to
fraud, to obtain sufficient appropriate evsdence regarding the asse55ed rlsks of material mi5Statement due to fraud through desl8nlng and
implementlng appropriate responses and to ￿sPOnd approp¥iately to fraud or suspected fraud during the audit.
Howevér, it is the primary responsibility of management. wth the oversight of those charged with governance, to ensure that the entlty's
operations are conducted in accordance with the provisions of laws and regulations and for the prevention arsd detection of fraud.
Page 10

Company Number: 2922828
Hosbis Dewl Sant
St David's Hospice
Independent Auditor's Report
To the Members of St David's Hospice Icont.)
Audito¢s i£spon$lbllltle$ lor the audlt of the flnanclal statements Icont.I
In Identilyin8 and assessing risks ol maierlal misstatement in respect ol irregularities, inclvding fravd, the audlt en8a8emenr ieam:
Obtained an undersranding of the nature ol the sector. Includln8 the le8al and regulatory Irameworks that th¢ charitablé company operates In
and how the charitable company15 ¢0mplylng wlth the legal and re8ulatory frameworks:
Inquired of managernent, and those charged with governance, about their own identifitatlon and assessment of the risks of irregularities,
including any known. actual, suspected or alleged instances of fraud.,
Discussed matter5 about non-cornpllance wSth law5 and regulatlon5 and how fraud mliht occur Inrludln8 a5se55rnent of how &nd where the
linanclal statements may be Susceptible to fraud.
A5 a result of these procedures, we consider the most significant laws and regulaiions that have a direct impact on the linaneial staternents are,.
FRS102. Charities SORP IFRS 1021, Comparties Act 2006. Charities Act 2011. and the charitable comparsy's governing document. We performed audlt
procedures ro detect non-fompllances wh(¢h may have a materlal impact on the flnanclal statemenrs whlch Included rtvlewln8 the Itnan¢lal
staternent5, In¢lvdln8 the Tiust¢es' Report. and remolnSn8 •lert to new or unusual transactlons whith may not ts¢ In èccordarttè wlth the 8overnlnR
documents.
The most $18nillcant laws and re8ulations that have an indirect impa<t on the Ilnanclal statements are Health Inspecioraie of Wales, UK General
Daia Protettlon Resul•tion IUK GOPRI. Health and Salety ai Work Act 1974. The Worklni Tlme Regulatlon$ 1998, Employment Law ènd The Codé of
Fundr)isin¢ Practlce. We performed audlt procedures to Inqulre of manè8ement and those char8ed wlth 8overnance whether the ch•riiable
£omp•ny Is In <ompllance wlth rh¢se law and re8vlailons and Inspected correspondence wlth fe8ulatory •uthoritle5.
The avdit engagement team Ident5fied the rlsk of rnanaBement override ol controls as the area where the financial staternent5 were most
su$ceptible ¢0 materlal rnl$siatemeni due to fraud. Audli procedure5 performed included but were not limlted to te5tin8 manual journal entries and
other adjustments. evaluaiin8 the business ratlonale in relation to 518nilicant, unusual transacilons and tran5a¢tlons entered outside tht normal
coyrse ol buslThess, Ind chèllengln8 judgements and esilmaies.
A further de5crlption of ovr responsibilities for the audit ol the financial statements is 10£3ted on the Financial Repo¢iin8 Councll's webslte at
http'.Ilwww.fr£.or8.ukl3uditorsresponsibilities. Thi5 description forrns part ol our auditorf5 report.
lJs• of our report
This report is made Solety io the charltèble <ornpèny's members, a$ a bgdy. in accordance with Chapter 3 of Part 16 of the Cornpan5es Act 2006. Our
ludll work has been undertaken 50 that we mlKht state io the charlrable company's members those matters we are requlred to state to them In an
audlror's report and for no other purpose. To rhe fullest extent permltttd by law, we do not accept or a55urne re5ponslblli¢y to anyone other than
the chèrltable company and the charitable company'5 mernbers as a body lor our audit work, for thi5 report. or for the opinion5 we have formed.
Robert Kenwell. 5eThior Staturofy Audltor
For and on behèll of Pritchett & Co 8u51ness Allvisers Limited
Chartèred Acc¢*untants and Statutory Auditors
16 Wynnstay Road
Coll￿N 8ay
Conwy
IL29 8NB
Page 11

Hosbis Dewi Sant
St David's Hospice
Consolldated Statement of Financial Actlvltles
(IncorporatSn8 an Income and Expenditure Account)
For the year ended 31 December 2023
Unrestritted Restrlcted
Funds
Funds
Total
2023
Tolal
2022
Notes
Income:
Donations, grants and legacies
Charitable activites
Other trading activltes
Investment income
Other income
1,331.234
1,950,015
562,100
43,624
1,375,073
222,772
1.554.006
1.950,015
562,100
43,624
1,375,073
3,028,211
2,030,428
592,526
2,782
1,347,399
Total Income
5,262,046
222,772
5.484,818
7,001,346
Expendlture:
Costs of raising funds
Charltable activities
2,291,255
4,274,990
2,291,255
4,482,567
2,306,086
4,204,712
207,577
Total expenditure
6,566,245
207,577
6,773,822
6.510.798
Net Gains / (Losses) on investments
io
80,085
80,085
1478,7771
Net Income/{Expendlture
11,224,114
15,195
11,208,919)
11,771
Transfers between funds
Net movement In funds for the year
6b
11,224,114)
15,195
11,208,919)
11,771
Reconclllatlon of funds:
Total funds brought forward
8,035,334
140,657
8,175,991
8.164.220
Total funds carried forward
6,811,220
155,852
6,967,072
8,175,991
The statement of flnanclal activities includes all gains and losses recognised in the period.
All incoming resources and resources expended derive from the continuing activities.
Page 12

Company Number: 2922828
Hosbis Dewi Sant
St David's Hospice
Consolidated and Charity statement of Financial Position
As at 31 December 2023
Group
2023
Charlty
2023
Group
2022
Charlty
2022
Notes
Fixed Assets
Tangible assets
Investments
2,856,265
1,746,847
4,603,112
2,855,916
1,746,851
4,602,767
2,926,637 2,921,985
2,780,196 2,780,200
5.706,833 5,702,185
io
Current Assets
Stock
Debtors
Cash at Bank and in hand
22,431
21,956
1.492,325 1,561,617
1,881,074
1,723,383
3,395,830 3,306,956
38,778
38,004
2,590,783
2,685,320
849,357
671,694
3.478,918 3,395,018
li
Creditors.. Amounts falling due
within one year
12
11,031,870) 1947,9271 11,009,760) 1926.4911
Net Current Assets
2,363,960 2,3S9,029
2,469,158 2,468,527
Tatal Assets Less Current Llabllltles
6,967,072 6,961,796
8.175,991
8,170,712
Welsh Government Grant
13
6,967,072 6,961,796
8,175,991 8,170,712
Funds:
Unrestrlcted Funds
General
Restricted Funds
14
14
6,811,220 6,805,942
155,852
155,852
8.035,334 8,030.053
140,657
140,657
Total Funds
6,967,072 6,961,796
,175,991 8,170,712
The flnancial statements on pages 12 to 25 were approved and authorised for issue by the Board on
oloql
2024 and are signed on its behalf bv..
Dr L Miles Ichair of Trustees)
Ms J Leslie (Honorary Treasurer)
Page 13

Hosbis Dewi Sant
St David's Hospice
Consolidated Cash Flow Statement
For the year ended 31 December 2023
Notes
2023
2022
Cash from operating activities
20
158,20SI
256,077
Cash used in investing artivities
Net investment gains/llossesl
Investment withdrawalslladditions}
Interest income
Purchase of fixed asset investments
Purchase of tangible f ixed assets
Disposal of tangible fixed assets
Cash used in investing activities
80,08S
1,113,435
43,624
1478,7771
350,000
2,782
1147,2221
1281,2101
1,089,922
1407,2051
Cash used In financing actlvltles
Increase (decrease) In cash and cash equlvalent5 In the year
1,031,717
1151,1281
Cash and cash equivalents at the beginnlng of the year
849,357
1,000,485
Cash and cash equivalents at the end of the year
1,881,074
849.357
Page 14

Hosbis Dewi Sant
St David's Hospice
Notes on Consolidated Financial Statements
For the year ended 31 December 2023
l Accounting Policies
a) The financial statements have been prepared under the going concern and historical cost convention with the exception of
investments which are included at market value. The financial statements have been prepared in accordance with the
Siatement of Recommended Practice ISORPI, "Accounting and Reporting by Charities" and the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 102} (published October 20191 Charities SORP IFRS 1021, the
Companies Act 2006 and Charities Act 2011.
b) Group Accounts
These financial statements consolldate the results of the charity and its subsSdlary company. St DavSd's Promotlons
Limited. Intra-group tradin8 15 eliminated on consolidation.
c) Company Status
The charity is a company limited by guarantee. The members of the company are the trustees named on page 4. In the
event of the charity bein8 wound up, the liability of the Trustees in respect of the guarantee is limited to a sum nat
exceeding £10.
d} Fund Accountlng
The 8eneral funds are unrestricted funds which are avallable for use at the d15cretlon of the tru5tee5 In furtherance of the
general objectives of the charity and which have not been designated for other purposes.
Des18nated fund5 comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted
funds are funds whlch are to be used in accordance wlth specific restrictions imposed by donors or which have been raised
by the charity for particular purpose5. The cost of raising and administering such funds are char8ed agalnst the specific
fund. Investment income and gains are allocated to the appropriate fund.
el Incoming Resources
All incomin8 resources, including grants that provide core funding, are included in the SOFA when the charlty is legally
entitled to the income and the amount can be quantified with reasonable accuracv.
ell) Legacie5
For le8acies, entitlement is the earlier of the charlty being notified of an impending distribution which can be quantified or
the legacy being received.
eliil Gifts in kind
Gifts in klnd donated for distribution are included at valuation and recognised as income when they are distributed to the
projects. Gifts donated for resale are included as Income when they are sold. No amounts are included in the financial
statements for services donated by volunteers.
e{iiil Grant5 receivable
Non capStal expenditure grants received are set agalnst related expenditure in the SOFA as and when expenditure occurs.
Capital expenditvre 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 relate or over the term or conditions of the grant, whichever is the shorter
period.
Page 15

Hosbis Dewi Sant
St David's Hospice
Notes on Consolidated Financial Statements {cont.)
For the year ended 310ecember 2023
Resources Expended
All expenditure is accounted for on an accruals basis, inclusive of any VAT which cannot be recovered, and has been
classified under headings that aggregate all costs related to the category. Where costs cannot be dirertly attributed to
particular headings they have been allocated on a basis consistent with use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating
information in support of the charitable activities. Patient care costs are those costs incurred directly in support of
expenditure on the objects of the charity. Management and administration costs are those incurred in connection with
administratSon of the charity and compliance with constitution31 and statutory requirements.
gl TanEtble Flxed Assets
Depreciation is provided on all tangible fixed assets at rates calculated to write off the costs over their expected useful
economlc lives as follows..
Hospice Bullding
Hafan Dewi Sant, Bangor
Furniture, fittings and equipment
Motor vehScle
Shops Fixtures
Holyhead Project
Over 50 years
Over 28 years
25% reducing balance
25% reducing balance
25% reducing balance
Over 30 years
h) Investments
Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on
revaluation5 and disp05als throu8hout the year. The Investments In subsidiary undertakings are valued at the nominal
value of the share capital.
11 Stock
Stock consists of purchased 8oods for fundraising and medical stocks. Stocks are valued at the lower of cost or net
realisable value. Items donated for resale or distribution are not Included in the flnanclal statements until they are sold or
distributed.
jl Pension Costs
The Company has deflned contributions to three penslon schemes designed to provide retirement benefit5 based upon
the level of contributions made. The three schemes are the NHS Pension Scheme, St David's Hospice Group Pension Plan
and National Employment Savings Tr(tst INESTI. The costs of providing these benefit5 are charged to the statement of
financial activities in the year in which they are incurred. Whilst a defined benefit scheme, the NHS Pension Scheme's
liability for the charity is that of a defined contribution scheme. The funds are held separately from the Hosplce's and the
scheme is administered 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 David's H05pice Group Pension Plan. The funds are held
separately from the Hospice's and administered by Standard Life. Two employees have pensions with St James's Place
which are administered on a salary sacrifice basis.
kl Finance and Operating Leases
Renta15 applicable to operating leases are charged to the SOFA over the period in which the c05t5 are incurred. Assets
purchased under finance lease are capitalised as fixed assets. Obligations under such agreements are included in creditors.
The difference between the capitalised cost and the total obligation under the lease represents the finance charges.
Finance charges are written off to the SOFA over the period of the lease $0 as to produce a constant periodic rate of
charge.
11 Irrecoverable VAT
Irrecoverable VAT is analysed separately and included within the miscellaneous support costs allocèted to charitable
activities.
Page 16

Hosbis Dewi Sant
St David's Hospice
Notes on Consolidated Finan¢lal Statements
For the year ended 31 December 2023
Income from donatlons and legacies
2023
2022
Qonatlons and gilts
Grants
Le8aGles
575.551
568.319
203.760
263,134
774,695 2.196.758
1 554,006 3,028.211
Income from donations and leeacies was £1,554,00612022.. £3,028,211) of which £222.??2 12022..
£236,554) was attributable ro restrlcted fund5 and El,331.234 12022.. £2,791,657) was attriburable
ro unrestlcted funds.
In¢ome from ch•rlt•ble actlvlt•s
2023
1022
FundraisinR Income
Merchandi5in8 Incomt
409,016
1,540,999
477,070
I.S53,358
1,950,OIS 2.030,428
The Merchandlsln8 In¢omè Is 4éntrated by the sale of donated 8oods and purch?5ed ioods through
varlous Hosplct Shops
The roial in¢ome In 2023 and 2022 w35 attributable to unrestricted funds
Intome from other tradin8 a¢tivltl•s
The chbrity owns the whole ol the Is5Utd share capltal ol St Davld's Promotlons Llmlted, a company
reglstered in Wale5, by way of 4 ordlnary £1 5hare5 Wlth lull VOiln8 rlght5. The sub51dlary run5
lottery to raisè funds lor the beneflt of the Hospice.
Proflt & Loss Ac<ount for Subsldlary Companv
2023
2022
Turnover
Cost of Sales
Gross Prolll
Admln Expenses
562,100
592,526
1115 638
109.6281
446,462
482,898
1144,7691 1142.3341
Operatln8 Proflt
301,693
340.564
Other operat1118 income
Other Interest receivable and similar income
Profit on ordinary activitles before iaX•f40n
940
302,633
93
340,657
Amount donated to HosplcÈ
1302,6361 1340.4211
Retalned proflt brought forward
5,280
5,044
Relained profil carried ftsrwaid
5.277
5,280
Represented bv
Assets
162,147
186,268
1156,8661 1180,9841
5,281
5,284
Funds..
Shale Capltal
Reserves
5,277
5,281
5.280
5.284
PaRe 17

Hosbis Dewi Sant
St Oavid's Hospice
Notes on Con501idated Flnancial Ststements
For the year ended 31 December 2023
Investment and Other Income
2023
2022
Compensation
Investment Income
I8,0[￿•
2,782
2,782
43.624
Other Income
2023
2022
LHB Contract
Notional AssemblylLocal Healih 8oard
Coronavirus lob Retention Scheme
Coronaviru5 Hosplce UKMielsh Government support
133.140
133,140
1,241.933 1,214,259
1,375.073 1,347,399
Income from other Income was £1,375,07312022.. £1,347,3991 of which £Nil12022'.
£117.9171 was attributable to restricted funds and £1,375,07312022.' £1,229,482) was
attributable to unrestlcted funds.
Net Out8olni I Ilncomln81 Resources
2023
2022
These are stated after char8in8/lcreditin81'.
Auditors. Remuneration for Audit Services
Auditors. Remuner3tion for Non-Audit Services
Amortisation of Government Grant
Depreciation.. Hospice Building
Depreciation.. Equipment, fixtures & vehlcles
Oepreciation.. Lottery equipment
Depreciation,. Holyhead project
Operaiin8 lease rentals..
Rent
Other
7,750
23,500
7,250
24,200
125,0001
73,916
106,501
5,165
19,538
74,940
118,492
4,303
19,859
257,919
20,557
257.474
34,335
None of the Trustees received any remuneiation or expense5 during the year.
Trustees indemnlty Insurance for the perlod in now incorporated within the Hosplce
insurance policy and is not disclosed separately
6b
Surplus income for the financial year
As pemiitted by sertion 408 Companies Act 2006. the holding company'5 income
and expenditure account has not been included in these financial statements. The
result for the financial year is made up as follows..
2023
2022
Holtling company's result for the financial year
1,208,919
11,771
Page 18

Hosbis Dewi Sant
St Davld's Hospice
Notes on Consolidated Fina￿131 Statements
For the year ended 31 December 2023
7a
staff Costs
2023
2022
Wa8es & Salarles
Social Security Cost5
Pension Costs (See Note 7cl
Other Costs
4,137.016
344.477
269,058
38.594
4,789,145
3,870,130
334.607
237,285
38,457
4,480,479
Totel iedurtdancylterminatlon p•ymertts amounted to £88,12312022.' £7,250)
The followin8 number ol employtts received ernoluments of o¥ef £60,000..
2023
2022
£60,IY]O- E69,999
£?0.￿0. E79,999
£80,LIJO- £89,999
£90.000- £99,999
£100,000- £109,999
£IIO,LThJ). £119,999
Penslon 5cherne for emplo￿t$ earnin¢ over £60.000..
1013
20ZI
Money pvrcha5e 5chern•
NHS superannuation scheme
Pen$lon <o$rs lor employees earnlA8 ovei E60.000..
2023
2022
Money purchase 5cherne
NHS Superannuation scheme
14,720
19.933
34,653
6.010
13.185
19.195
7b
The average numbef of FTE employees, analysed by functlon was
Medlcal. Nurslnd, Prolesslonèl & Technleal
Adminisiration
Merchandisln8 & Fundralsln8
Support stall
Lottery staff
2013
si.o
2022
58.0
45.0
23.0
57.0
18.0
Employed by the Companv
J27.0
142.0
7¢
Penslon s£hem•s
Nature of 5ch•me
Cost
Outstanding contrlbutions 4t
the year end
2013
1022
2023
2022
Money purchase scheme
IHS Superannuation scheme
93.913
175.145
269.058
79,749
157,536
237,285
10,S27
24,269
34,796
3,tJ)9
23,469
26,478
7d
Aure8aie employee benefit$ of:
2023
2012
Key mana8ement personnel
437.ISO
436.070
The kèy manaRernent personnel arè the members ol the Sènior Manasement Team, as
described on page 4.
Page 19

H05bi5 Dewl Sant
St Davld's Hosplce
Plotes 011 consolidated Finantlèl Ststemehts
Forthe year ended 31 Defember 2023
Éxpenditure
Charitable
albxatedio
1022
Medital, Nvrsln& P&T, Support
Admin Personnel
IM85,017
2M5,017
lJ99 ?41
4.784,7$8
2,614.958
1859 931
4,474A89
1014 769
I,OJ4.769
25L.7S2
25l,?52
93.758
93,758
2085,01?
S39.462
OtherDirtctCosts
Medical, domicilyary & nursi
Merthandlsiniandedertt tosts
Priie monies & colle¢rion lèts
119.253
119.253
99,117
115.638
131A66
118,530
12,162
87,055
Dlt*tt
119,253
12.161
87,055
115,638
360,014
Premises C•$is
Itent5 and Rote5
utiIItyCosts
Milniemnco & R•nttn15
Oth¢r
261,519
60.867
58.fy)S
261.519
159.030
ISO,154
160,746
145,551
263.849
116 225
7B6,371
9B.163
#6.452
VM
5.696
240.383
485,07B
5,864
73l.325
Depre¢lotlo• Ctr&ts
Oepreciation
AmortSsatiin ofGoVtrnm•rt￿n[
102.201
11,087
4,303
217.592
205,11?
102,202
11,087
4,303
217.$92
180,122
Qlherowrheodi
AlwertL%lni& Promoikin
Trivd & v•hkl*
Educatlon
Ml
4,713
26,111
30
16.131
4,115
1,798
I,oss
21m9
53,202
12.5flJ
610429
706,039
34,765
61,227
16,394
597 006
709,392
22,969
10.681
Uii
496,2XI
104.5l6
58,56S
46,708
1478 297
L 627 612
403 236
260 407
6 773 822
6 $10 798
The 5ta¢lcosts of ra151nilundJ
Fundra1￿￿, trsdlw and meithondlslnglncorne 15 46%of the total IrKome In 2023ai £2,512,11512022.. £2.622,954., 37%>
Th¢ Sts1Ft￿lld1r1￿IV*ttlIbU1*bIelJ £1.5￿,279 In 2023 72%01 admlnl$tr¥tkJn witi12022.. tI,WM41., 7S%I
Page 20

Hosbis Dewi Sant
St David's Hospite
Notes on Consolidated Financial Statements
For the year ended 31 Decemeber 2023
Tangible Fixed Assets- Group
Hosplce
Furnriure
Fl¥tures &
Equipment
Freehold
Land and
Bulldlngs
Motor
Vehides
Shop
Fixtures
Holyhead Lottery
Project
Equipment
Total
Cost,.
At l January 2023
Additions
Disposals
At 31 December 2023
5,223,495
147,222
2,976,725
4,910
127,372
42,500
1.238.066
99,812
257,032
5gS,741
28,559
5,370,717
2,981,635
169,872
1.337.878
257,032
595,741
28,559
Oepiedatlon:
At I january 2023
Charge for period
Eliminated on disposal
At 31 December 2023
2,296,858
217,594
1,094,896
74,940
78,244
13,569
835,725
93.835
207,369
11,088
56,717
19,859
23,907
4,303
2,514,452
1.169.836
929,560
218,457
76.576
28,210
Net Book Value:
At 31 December 2023
2,856,265
1,811,799
78,059
408,318
38,575
519,165
349
At 31 December 2022
2.926,637
1,881.829
49,128
402,341
49,663
539,024
4,652
Tanglble Flxed Assets. Charity
H05plce
Furniture
Fixtures &
Equipment
Freehold
Land and
Buildings
Motor
Vehlcles
Shop
Flxtures
Howad
Projett
Total
Cost:
At I january 2023
Additions
Disposals
At 31 December 2023
5,194,936
147,222
2,976,725
4,910
127,372
42,500
1,238,066
99,812
257,032
595,741
5,342,IS8
2,981,63S
169,872
1,337,878
257,032
595.741
Depreciation:
At l January 2023
Charge for period
Eliminated on disposal
Al 31 December 2023
2.272.951
213,291
1,094,896
74,940
78,244
13,569
835,725
93,835
207,369
11,088
56.717
19,859
2,486,242
1,169,836
91,813
929.S60
218,457
76,576
Net Book Value:
At 31 December 2023
2,855,916
1,811,799
78,059
408.318
38,575
519,165
At 31 December 2022
2.921,985
1,881,829
49,128
402,341
49,663
539.024
Page 21

Hosbis Dewi Sant
St David's Hosplce
Notes on Consolldated Flnanclol Staternents
For the year ended 31 December 2023
io
Fixed Asset Investments- Group and charity
2023
2022
Market Valve 45 at i Januaty 2023
Additlons
Withdrawals
Net unrealised investment Eain5 1 IIOs5esl
thA•rket Value as èt 31 Oecember 2023
2,780.201
3,608.978
11,113,435) 1350,0001
80,08S
478,777
1,746,851
2.780,201
Cosi of Investments •$ at 31 Oecember 2023
1,638,840
2,834,280
2023
UK
2023
Z022
UK
2022
Over5eis
Overseas
Investments are represented bv:
Investments Ilsted on re£o8nised stock exchan8es
Cash
1,059,139
130,760
L 185,899
SS6.952
1,150,426
283.882
1,434 308
1,345,892
556,952
1,746,851
1,345,892
2.780,200
Thé tharity fieure includes 8 É4 Invesrmeni belng the issuèd share capital in St D•v4d's Promotlons Limited.
Holdlngs ol rnoré th•n 20%
The chirity holds more than 20% of the share capltal of the lollowln8 cornp¥nles'.
Cornpanv
Country of re8Sstrètlon or Incorporatlon
Shares held
Class
Subsldlary undertakin85
St David's Promotlons Limlted
England and Wales
Ordlnary
loo
The prlnclpal èctlvlty ol St Oavld'5 Prornotlons Llmlted lor the Ièsi felev¥nt IlnanclJl perlod was that of the
runnin8 of a lottery to raisè lunds lor the benefil of Ihe Hospice.
li
Oebtors
Group
2023
Charltv
2023
Group
2022
Charlty
Amounts falllng due wlthlTr one year..
St David'5 Promotions Limited
The Nation41 Assembty l Local Heath Board
LeBacy Oebtors
Orher Debtors
Prepayfflents
72,923
42,778
1,075.769
246,835
123,312
1,561,617
97.71S
20,513
2.227,864
239.155
100,073
2,685,320
42.778
1,075,769
246.835
126,943
1,492,325
20,513
2,227,864
239,155
103,251
2,S90,783
St David's Promotions Llmlted Is the wholly owned subsidlary tvadi08 as a lottery company for the benefit of
St David'5 Hospice.
12
Cr•dltors.- amounts falllni due wlthln
one year
Group
2023
Ch¥rltv
2023
Group
2022
Charllv
2022
Trade Creditors
orher Creditors
Taxation and soclal 5ecuriiy costs
Deferr•d Income
Accruals
596.30?
110,440
110.683
73,022
141,418
1,031,870
589.992
108,983
iio.iii
577,206
89,393
105,849
78,001
159,311
1,009,760
574,471
88,660
104,810
138,841
947 92?
158,5SO
926,491
Deferred Income relate5 to lottery stakes feceived in advance by St Oavld's Promottons limited. These
are released to the profit and loss account as and when player5 are entered into the weekly cash prize draw.
Paee 12

Hosbis Dewi Sant
St David's Hospice
Notes on Consolidated Financlal Statements
For the year ended 310ecember 2023
Welsh Government Grant
Group
2023
Charity
2023
Group
2022
Charity
2022
Recelved and recÈlvable:
At l January 2023
Receivable during year
At 31 December 2023
250,000
250.000
250,O¢XI
250.000
250,000
250,000
250,000
250,000
Amortisation:
At I january 2023
Credit to statement of financial activities
At 31 December 2023
250,tJ)O
250,000
225,000
25.000
250,000
225,000
25,000
250,000
250,C￿0
250,000
Net balance at 31 December 2023
The Government grant disclosed above has been offset a8alnst the expenditure to whl¢h It relates. The 8rant is
repayable, In whole or part, If the 8rantor consSders certaSn terms or condltions of the 8rant are not beSn8 fulfllled.
14
Statement of Funds
At l January
2023
Investment
8alnsllo￿eS
At 31 December
2023
In¢ome
Expendlture
Tr?n5fers
Unrestrirted Funds
General fund
Charity
Subsldiary
Group general fund
6,530.053
5,280
6,535,333
4,699,006
563,040
5,262,046
16,305,838)
1260,4071
16,566,245)
80,085
1,302.636
1302,6361
1,000,000
6,305,942
5.277
6,311,219
80,085
Designated Funds
Hospice refubishment
Group Designated Fund
1,5(Kl,000
1,500.000
11,000,000
11,000,0001
5ChJ.¢MI
5CQ.&)O
Total unrestrlcted fur*ds
8,035,333
5,262,046
6,566,245)
80,085
6,811,219
At l January
2023
Investment
alnsllosses
At 31 December
2023
Income
Expendlture
Transfers
Restrirted Funds
Charitv
Subsldiary
Group restrieted fund
140,657
222,772
1207,5771
ISS,852
140,657
222.772
1207,5771
155,852
Analysis of Net Assels between Funds
Unrestrlcted
Funds
Restrlcted
Funds
Total
Fund balances at 31 December 2023 are represented by..
Tangible fixed assets
Investments
Net curient assets
2,805,468
1,746,847
2,258,905
6,811.220
50,797
2,856,265
1,746,847
2.363.960
6,967,072
105,055
155,852
Page 23

Hosbis Dewi Sant
St David's Hospice
Notes on Consolidated Financial Statements
For the year ended 310ecember 2023
Is
Capital Commltments
2023
2022
Authorised but not contracted for
16
Post Year End Legacies and Grants
Legacies of £107,OCIJ notified in 2023 which have not been provided for as probate was not 8r3nted until 2024.
Grants of £400.OCKJ towards our refurbishment programme were awarded in 2023. The conditions of the grants will
not be met until works are completed In 2024 at which time the grant income will be recognised.
Additional Welsh Government fundin8 of £425,OCO for the 2023124 financial year was awared and received in 2024.
No provision for thls was made in the 2023 account5 as the Welsh Government had advlsed that no additional fundin8
was available at 31 December 2023. Notification of the additional fvndin8 was received post year end and is
considered to be a post balance sheet non-adjustin% event.
17
Lease Commltments
The leases for the shop In Llanrwst is re-negotiated on an annual basls and the remainder of the leases expire
as follows,.
Porthmadog March '24, Llandundo October'28, Pwllheli May 28,, Conwy Rolling Lease,
Beaumaris Rolling Lease, Craig Y Don121 Queens Road) April '26, Colwyn Bay (Station Road) Rolling Lease,
Dolgellau IHarri'51 September'24, Menai Bridge Ortober'23, Llangefni March '25, Holyhead August'24,
Gaerwen December'24, Llandudno Junction (Distribution Centre November 2033
The Hospice leased two car5 under operatlng lease agreements, whlch ceased during the year. The comparatlves
nclude the total future minimum lease payments under the non-cancellable operatin8 leases.
At 310ecember 2023, the company had annual commitments under non<ancellable operating leases as follows:
Land and Bulldlngs
2023
2022
Other
2023
2022
Explry Date:
Within one Year
Between one and five years
More than five years
165,282
417.177
290,000
160,631
254,940
27,850
7,926
25,458
16,481
8,974
Page 24

Hosbis Dewi Sant
St David's Hospice
Notes on Consolidated Financial Statements
For the year ended 31 December 2023
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 £302,63612022.. £340,421) to St David's Hospice.
Balances due from St David's Promotions Limited to St David's Hospice at the year end in respect of these
transactions amounted to £72.92312022'. £97.7151.
19
Controlllng party
St David's Hospice group is controlled by the Trustees.
20
Cash generated from operatlons
Total
2023
Total
2a22
Net Income for the year
11,289,0061
490.546
Ellmlnatlon of non-operatlng cashflows:
Investment income
Oepreciation of tangible fixed assets
Amortisation credlted to Statement of Flnancial Activities
143,624}
217,595
12,7821
205,121
125,0001
Operating cashflows before movements in worklng capltal
11,115,035)
667,885
Ilncrea5el / Oecrease in Stock
Ilncreasel l Decrease In Debtors
Increase / (Decrease) In Creditors
Net investment Igainslllosses
16,347
1,098,458
22,110
180,0851
3,016
1970,7621
77,161
478,777
Cash generated from operation5
158,2051
256,077
Page 25