# **Haven House Foundation Annual Report and Financial Statements**
**For the year ended 31 March 2024**
Charity no. 1044296 Company no. 3000171
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## **Haven House Foundation**
## **Annual Report and Financial Statements 2023/24**
## **Chair and Chief Executive’s report**
Our purpose at Haven House is to provide vital care and support to children and families living with serious illness. This care and support has never been more important: the number of children living with serious illness continues to grow and we remain ambitious to expand the range of services we offer. Meanwhile, the financial climate for children’s hospices is becoming more challenging due to cost inflation and a decline in statutory income across the sector. 2023/24 was therefore both a challenging and a rewarding year as we continued to work to meet the need in our local area while adapting our services and our organisation to respond better to future demands.
During 2023/24, our hospice supported 300 babies, children, and young people (BCYP) and provided over 25,000 hours of care. We achieved this by providing services, clinical and non-clinical, both in the hospice and in the homes of our families. We provided 890 overnight stays, 619 day-care sessions and 1,280 therapy sessions for our children, while our teams supported 166 siblings and ran 48 family events. In all these areas, our levels of activity and support increased compared with the previous year and our teams worked harder than ever to support our children and families.
We provided care and support to 15 families where a child sadly died, including specialist nursing support at our hospice, at home and in hospital, and post-death and bereavement care and support. The compassion shown by our families, staff and supporters in supporting everybody affected by the loss of a child remains a source of inspiration for our continuing work.
Faced with the challenge of meeting rising demand with limited resource, we reviewed the structure and organisation of our care services in 2023/24 with support from an external expert. We engaged with staff on the resulting plans for an integrated nursing team to provide services across all the locations we offer care (the hospice, at home and in the hospital), and on an expansion of our therapies and wellbeing team to increase the range of and depth of support we provide to families. We began implementation of these important changes in the final part of year, helping to ensure our care services are fit for the future.
We opened our grounds to our local community throughout the year and held events for our families, including picnics, sibling events and our first Iftar dinner. We hosted a Summer Party, wonderful Christmas Fair, and a Christmas appreciation event for our supporters. Our supporters took part wholeheartedly in our annual Sparkle Walk, a new Bike Ride and Mud Run, and our new Miles for Smiles initiative spearheaded by our ambassador Harry Kane.
We also continued our successful collaborations with the Matchroom Foundation who supported our nursing services, the Amy Winehouse Foundation who continued to fund our wonderful music therapy, and with Macfarlanes, where our Charity of the Year partnership raised an amazing £300k for our hospice. We brought all of our supporters together at our annual Ball in March for a wonderful evening that was more successful than ever in raising the vital funds we need to continue our work.
The financial outlook for the hospice sector remains challenging due to high levels of cost inflation, reductions in statutory funding and high competition for voluntary income. Given the rising demand we face, our plan was for a £300k operating deficit to allow for investment in our services. Despite the financial headwinds we face, we performed better than planned and our final position was an operating deficit of £169k, underpinned by lower costs than planned and strong legacy income. Due to the improved performance of our investment portfolio, our reserve levels remained stable year-on-year. However, we continue to plan for an operating deficit in the medium term so that we can maintain our commitment to invest more in our services in order to respond to increased demand.
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Also this year, we completed the re-organisation of our fundraising teams under four pillars of activity and completed appointments to leadership roles within the team, ensuring we have greater capacity and capability to expand our voluntary income in the years ahead. Our work in restructuring both our care and fundraising team was supported by our HR team who worked hard on a number of fronts throughout the year to continue to deliver our organisation’s People Plan.
2023/24 was a year of leadership transitions with Siân Wicks leaving the Chief Executive role in May and Gary Seager kindly acting as Interim CEO until the post was taken up permanently by Ralph Coulbeck in October 2023. Eileen White also left the Director of Care role after ten years during which the services we provide were greatly enhanced and expanded, and Aisling Kilbane took up the role on an acting basis until her appointment as permanent Director of Clinical Services in April 2024. We also saw two new expert medical trustees join our board, Dr Dilini Rajapakse and Dr Charlotte Clements.
We would like to thank Gary Seager for his versatility and commitment in holding a number of leadership positions at Haven House over the last two years, and Eileen White for her longstanding leadership as our Director of Care. We also wish to pay tribute to the remarkable contribution of Anne Mallinson OBE, our Life President who sadly died in December 2023 at the end of a long life of service to her community and commitment to an inspiring range of projects. Through her energy and compassion, Anne provides a role model for everybody at Haven House.
## **Looking ahead**
We go into the year ahead with clear priorities for the development of our care services, including the expansion of our therapies, wellbeing and family support offer, with a focus on increasing support for older children making the transition to adult care and on ensuring we reach the whole range of our diverse communities. We will continue to embed our integrated nursing offer and work to meet the growing range of demands for our specialist nursing support, including increasing demand for support for children with serious illness also facing social crisis.
To enable this, we will continue to increase the capacity and capability of our fundraising and retail teams with a range of new roles planned. This will support our ambitions to expand voluntary income through a focus on major donors, grants and trusts, and our community fundraising programme. We will also continue to support our seven brilliant shops and integrate our retail team more closely with our wider business.
The delivery of our People Plan will be critical to our success: we intend to improve recruitment and retention and invest in the training, development and support of our staff. Most importantly, we will take steps to understand and improve the working culture across our organisation, ensuring everybody feels welcome, supported and included at Haven House.
All of this is aimed at making our organisation as effective as it can possibly be at meeting the needs of the children and families that we exist to support and care for. We see examples every day of the extraordinary compassion, strength and love our children and families offer to each other. These qualities help to ensure that every child living with a serious illness gets the best possible opportunity to reach their potential, and that remains our guiding ambition at Haven House.
**Ian Ailles Chair**
**Ralph Coulbeck Chief Executive**
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## **Haven House Foundation – Annual Report**
## _**1. Our objectives and activities**_
Haven House is located at The White House, in four acres of unspoilt woodland on the borders of North East London and Essex. We also operate increasingly within local homes and communities through our outreach and other specialist services.
## **Our vision**
The best quality care for extraordinary children and their families where and when they choose.
## **Our mission**
To provide the highest quality palliative and holistic care services to babies, children and young people and their families in our local communities. Working in partnership we will deliver these services when and where our families need them.
## **Our values**
- **Respectful:** recognising that everyone is an individual and treating others as we would expect to be treated
- **Safe:** creating a positive learning space and doing everything to ensure our services and environment are as safe as possible
- **Compassionate:** showing warmth and empathy in the most difficult of circumstances, and creating an environment where children and families can create lasting memories
- **Professional:** acting with integrity and honesty, striving for excellence and being accountable for our actions.
## **Our purpose**
Haven House supports families throughout their experience of caring for a baby, child or young person with a life-limiting or life-threatening condition. Haven House provides a range of physical, emotional, social and spiritual support services which are offered:
- Holistically
- Centred on the family
- To all eligible families within our geographical area
- Across a range of settings including the home, hospice, and hospital
- By specialist staff
- With engagement of the community
## **Our services**
Our services are delivered wherever they are needed and include:
- In-house and community end of life care including symptom management
- Post death care, including bereavement suite
- Counselling and bereavement support
- Planned and crisis in-house respite care – day care and overnight
- Community based respite care
- Step down care to prevent hospital admissions or to reduce the length of a hospital stay through transition from hospital to home
- In-house and community therapeutic support – specialist play, music, yoga, physiotherapy and complementary therapies
- Satellite physiotherapy service including aquatic physiotherapy
- Specialist outreach nursing and NHS integrated nursing posts – working in partnership with local and tertiary NHS services
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- Partnership working with local children’s community nursing teams and acute NHS trusts delivering hospice at home nursing services including education and training
- Neonatal music therapy provision – local acute trusts
- Children’s Palliative Care Education and training of professionals and parents/carers
- Pre-admission and Pharmacy clinic in partnership with Guy’s and St Thomas’ NHS Trust
- Family support including one to one and group sibling support
- Family events including buddies events for siblings
- 24/7 specialist paediatric palliative care telephone advice
All our services are tailored to ensure that families receive individualised care in the setting of their choice, whether in the hospice, our holistic care centre, in the family home or in hospital.
## **Public benefit**
Our principal charitable purpose, as defined in our Articles of Association, is to provide “the relief of sickness and suffering amongst children and young people, and care and support to their families”.
The trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit and consider that the hospice’s activities, as outlined in this report, fall within the definition of public benefit. Haven House delivers public benefit by providing services and support for children and young people with life-limiting or life-threatening conditions and their families at no personal cost to themselves.
## **Areas served**
Our services are available to children and families across North East London, West Essex and East & North Hertfordshire. During the year we supported 300 babies, children, and young people (BCYP), including support in local neonatal units. In addition, we provided support to 166 siblings of children with serious illness.
## _**2. Strategic Report**_
The Board of Trustees presents this strategic report as required by the Companies Act 2006. This includes analysis of past performance in ‘Achievements and performance’, the context for the financial statements in the ‘Financial review’, insight into the challenges, objectives and strategies in ‘Plans for the future’, and the risks the charity faces in ‘Risk assessment and management’.
## _**2.1 Achievements and performance**_
Each member of the Senior Leadership Team holds operational responsibility for delivering against strategic aims work plans. The SLT (outlined on pages 18-19) is supported by, and reports progress to, relevant committees of the Board.
Each operational area and work plan has a range of qualitative and quantitative measures and key performance indicators (KPIs) against which progress is measured and monitored. For example, we monitor the numbers of children supported within our different services, hours of care delivered and the evaluation of feedback from parents obtained via parent forums and ‘real-time’ feedback obtained on each visit. The SLT reviews performance on a regular basis as does the Finance and Resources Committee and our local NHS commissioners.
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**Care services in 2023/24**
## **Our Vision: To deliver the best quality care for extraordinary children and their families when and where they choose.**
Our key achievements in 2023/24 against our 3 year strategic aims and objectives are set out below.
## **1: Provide safe, specialist and personalised children’s nursing, care and therapies when and where needed**
What we did:
- We redesigned our care services during 23/24 to allow us to increase the quantity, quality and diversity of our offer. This includes new services focused on mental health and emotional support, increased expertise and resources for practical family support and social work, and increased resilience in our nursing services model, allowing us to provide more responsive and planned care.
- In 2023/24, we increased the number of families we are able to support, as well as delivering an 11% year-on-year increase to 890 in the number of overnight stays with specialist nursing care provided to our families. We also saw a 3% increase in the number of therapeutic intervention sessions we have provided, with 1,280 delivered this year, and a 4% increase in day care, including our hospice at home service.
- We have worked to fully implement the new Patient Safety Incident Response Framework and have published our Patient Safety Incident Response Policy which defines the areas we want to proactively focus on quality improvement in. These are:
- Medicines Management
- Risk of fractures in children with complex medical conditions
- Injury or adverse outcome as a of challenging behaviour
- We provided end of life care and support to 15 families where a child very sadly died. Our support included specialist nursing support at our hospice, at home and in hospital, post death care and support and family and sibling counselling. We collaborated with other hospices to support some of these families and to ensure the widest possible choice of support at the end of life.
## **2: Collaborate and partner to improve the way families are supported through integration**
What we did:
- We initiated a novel Memorandum of Understanding with Barts Health NHS Trust, London’s largest hospital provider, to allow our care staff to provide our services in their hospital sites. This will mean that, where appropriate, our families can access respite and therapeutic support from Haven House whilst they are in hospital in a much more integrated way. This also means that families in hospital who may benefit from our support will be able to access our services more easily.
- We hosted and participated in a NEL ICB system wide transition quality improvement project, aimed specifically at improving the experiences of young adults and their families as they transition to adult services. We supported 10 young people in their transition to adult services this year and continue our collaboration with St Francis Hospice with our joint transition group, as well as identifying new local providers of adult services to signpost families to.
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- We have continued to develop and build relationships within Children’s Hospices Across London (CHaL), and have led the formation and development of Joint Safeguarding Forum, as well as participating in the ChaL Governance Group.
## **3: Broaden our reach and address inequalities of access and support:**
What we did:
- As part of the redesign of our care services we have created several new roles with a focus on improving access for our underserved communities. These include the creation of a dedicated Cultural Link Worker role as well as a Youth Worker role to meet the differing needs of our adolescent and young adult population.
- We have increased the number of tailored services and groups to better meet the needs of our varied populations. This includes services aimed at specific age groups such as Under 5’s or Teens, services that provide peer support for specific caring roles, as well as events targeted towards individual cultural or religious groups to better meet these needs.
- We have increased the amount of support that we provide to children and families with a primary social need, alongside their complex medical needs. We have worked closely with social care agencies to increase the support offered to these families and have provided a significant increase in social care related overnight stays. The introduction of a Social Worker role at Haven House will increase our expertise and the support we can offer to families in complex social need.
## **What our families said about us:**
_“The children have a sense of belonging - like an extended family. Somewhere they don't feel different”._
_“The service has been just what our family needed. Thank you so much!”_
_“Lovely to meet up with some of the other parents at events because they understand and appreciate what it means to care of a child with additional needs. I love utilising the grounds during events.”_
_“Fantastic service. Literally a haven for children with disabilities and their families. Very inclusive. Only thing missing is transport or a van to transport for trips”._
_“My child is so so happy here and SAFE! His twin sister having amazing time with Buddies & have peace and quiet in my heart and mind... Have time to rest and recharge my batteries...Thank you”._
_“Haven House is place where we can confidently leave child and go out for activities which we cannot do with child otherwise”._
## **Enabling priorities in 2023/24**
The delivery and development of our care services is enabled by work in five priority areas. During the year, key aspects of enabling work included:
## _**Strong, expert and compassionate teams**_
- We continued to invest in our staff through an improved pay offer and we saw a significant improvement in staff satisfaction with levels of pay through our annual staff survey
- A range of new roles were introduced in our care services following an expert external review, including plans for a new psychology service and the introduction of a social worker to our family support services, helping to expand the range of skills within our clinical teams
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- We re-organised our Income Generation & Marketing Team under our 4 pillars of activity (Retail; High Value; Mass Fundraising, and Marketing) and appointed leads for each area along with an Assistant Director for IGM
- We saw our volunteer numbers increase to over 400 and received very positive feedback in our volunteer survey; we also held the first of a regular series of volunteer appreciation events in December 2023
- We recently received an award from Queen Mary University for Community Organisation of the Year for our volunteering services, and our volunteer Rachel received the New Volunteer of the Year award
- A wide range of cultural and social events were arranged for our teams to celebrate the diversity of our workforce and to bring people together
- We undertook work to promote our organisational values with staff and to develop behaviours which support our values
- A learning and development strategy was agreed for the organisation and we began implementation to help ensure we support career development for all of our people
## _**An inspiring local charity of regional significance**_
- We hosted a range of events at our hospice for our supporters and the wider public, including a Summer Party, a Halloween event and a Christmas Fair, allowing people to enjoy our beautiful grounds while supporting our cause
- Using population surveying techniques, we carried out our first comprehensive survey of our local area to understand levels of awareness and support for our charity and to inform our marketing and fundraising activity
- As part of the Miles for Smiles campaign, we received national print and radio coverage fronted by our ambassador Harry Kane to raise awareness of our work
- We supported a wide range of events in our local community to promote our cause, including tea parties, bingo nights, golf days, and our annual Comedy Night hosted by Jon Richardson
- The Matchroom Foundation continued to provide strong and visible support for our cause and we were visited by Barry Hearn in December 2023
- We hosted visits by a number of local and national supporters, including our long-standing patron Sir Iain Duncan Smith MP, Wes Streeting MP, and colleagues from Together for Short Lives, the national body for children’s hospices
## _**Sustainable growth in funding and resources**_
- We met our goals for the year for statutory income and agreed new long-term contractual arrangements with North East London ICB to secure our NHS commissioner income for the next 5 years
- Our overall income increased by 8% compared with the previous year and our financial performance for the year was better than planned, meaning our reserve levels were maintained despite the financial headwinds facing the hospice sector
- We maintained strong retail income and had a range of successful community fundraising events, including our regular Sparkle Walk and our new Miles for Smiles initiative
- We continued to receive support from a range of corporate partners, trusts and foundation and our annual ball raised an outstanding £200k
- We launched a new approach to major donor fundraising with expert support from a new Principal Gift Lead
- Following a tender process, we agree to move our investment portfolio to a new supplier in order to maximise our income in this area
- We signed up to the Hospice UK legacy campaign and began planning a new focus on legacy giving for the year ahead
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## _**Infrastructure and technology that delivers**_
- We continued our work to strengthen our IT infrastructure and gain CyberEssentials accreditation as a result of our focus on system security
- We implemented a new Intranet platform to substantially improve communication across different parts of our organisation
- Our Care team continued to improve use of the Care database and we continued the use of tablets in our care services to help us to support and engage with the children we care for
- We completed an upgrade to our fire alarm panels at the White House to improve our overall fire safety measures
- Secondary glazing was successfully installed across The White House, helping to reduce heating costs and to improve the environmental sustainability of our largest building
## _**Rigorous governance and strong leadership**_
- We recruited two new trustees to our Board, both experienced and expert paediatric doctors, ensuring we have a high level of clinical knowledge and capability amongst our trustees
- We recruited a new Chief Executive and a new Director of Clinical Services to stabilise our executive leadership team
- Our new governance and committee structure was embedded along with the use of our Board Assurance Framework to ensure we have a clear oversight of risk across the organisation
- - Our Articles of Association were fully reviewed and updated in line with our recent governance review to ensure they are fit for purpose
- A range of new cross-organisational working groups were introduced to foster an integrated and positive organisational culture, focusing on areas including income generation, delivering our People Plan, volunteering and digital systems
- We continued to contribute to the important work of Children’s Hospices across London (CHaL) and we attended conferences for the hospice sector and for the children’s palliative care sector
## **Our approach to raising voluntary income in 2023/24**
Our supporters raised over £3.8m during the year.
We are very grateful to the many very generous donors, organisations and supporters who help make our work possible and we are extremely lucky to have so many wonderful volunteers who underpin so much of what we achieve.
Our fundraising focuses on seven main areas:
- the solicitation and stewardship of donations or entries to a lottery
- running Haven House events and entering individuals into third party activities
- partnerships with businesses, schools, community groups and other organisations
- soliciting gifts from trusts, foundations and statutory partners
- supporting members of the public to conduct their own fundraising activities
- shops and online selling of donated goods
- gifts in wills.
We also received gift aid on monetary donations, events sponsorship and donations to our shops.
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## _**Taking responsibility for our actions**_
The charity is a member of the Fundraising Regulator scheme and thereby entitled to use the Regulator’s logo on its fundraising materials. It operates in accordance with the Code of Fundraising Practice and is an organisational member of the Chartered Institute of Fundraising.
As a charity registered with the Fundraising Regulator, we are committed to ensuring our fundraising is legal, open, honest, respectful, and most importantly safe for our supporters.
Our fundraising programmes are compliant with the Safeguarding Policy, and the key aspects of the policy are incorporated in our training programmes and inductions.
We also operate a whistleblowing policy (Free to Speak Up) and a complaints’ policy and process, as required by the Code of Fundraising Practice.
## _**Voluntary income complaints**_
We take all complaints / constructive feedback very seriously and have a robust approach to handling any issues raised. During 2023/24, 100% of complaints were investigated and satisfactorily resolved.
## We received:
- 12 complaints related to our retail operations
- 4 complaints related to the Lottery
These complaints should be seen in the context of almost 100,000 marketing emails, over 37,000 direct mail items,1,500 people taking part in our events and third-party events, and engagement with nearly 100 businesses. The retail complaints are in the context of over 145,000 customer transactions in our seven shops.
There were no instances where a complaint was required to be referred to the Fundraising Regulator, Ofcom, the Information Commissioner’s Office, or any other regulatory body.
## **Our Volunteers**
We have over 400 active volunteers who have traditionally supported the hospice, tirelessly helping us with many activities and a wide variety of roles. We have continued to engage with all our volunteers with regular newsletters and virtual updates.
Our invaluable team of volunteers continually provide support across a whole range of areas, including acting as trustees or committee members, working in our shops, supporting our wide range of fundraising and family events, maintaining our beautiful grounds and counting cash collections. We are extremely lucky to have wonderful volunteers who underpin so much of what we achieve.
## _**3. Financial review**_
Total income in 2023/24 was £5.767m, an increase of 8% (£446k) on 2022/23.
Despite challenges in some areas, our broad ranging fundraising income streams resulted in fundraising income overall meeting expectations. Similarly, our statutory income met overall expectations, with 33% of our income coming from statutory funding and the NHSE grant (2022/23 36%).
Total expenditure in 2023/24 was £5.936m, an increase of 15% (£760k) on 2022/23. The higher level of spend continues to reflect the ongoing investment to deliver against the growing demand for our services as well as higher payroll and other operating costs reflecting the background of higher cost
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inflation. The level of spend on our Charitable Activities has remained constant at over 64% of our total expenditure.
Overall, the above performance resulted in a net operating loss of £169k (2022/23 £145k surplus). We began the financial year planning for a budget deficit of over £300k, reflecting our intention to invest in our operational growth. The better than budgeted overall result for the year is due mainly to cost savings and additional unexpected legacy income. We continue to be exceptionally grateful to people who remember us in their will.
Despite the net operating loss, our total funds reduced during the year by only £19k to £5.091m at the end of 2023/24 due to the compensating net gain on our investment portfolio of £151k (2022/23 net loss of £176k) that reflects the upturn in stock market conditions during the year.
## **Investment policy**
During the year, the charity continued to use the services of investment manager RBC Brewin Dolphin for the investing of surplus funds in a portfolio of listed investments.
The charity’s primary objectives for investing are to achieve a balance of income and capital growth on a total return basis and to have sufficient liquidity to respond to pressures on day-to-day cash (if required).
As part of ongoing good governance for managing the charity’s assets, the Board approved a revised Statement of Investment Policy and a new Responsible Investment Policy during the year and carried out an investment manager retendering process, led by the Finance and Resources Committee, on its behalf. This review included consideration of updated investment policies and the current and projected financial needs of the charity.
Following this process, the Board have approved Quilter Cheviot as the new investment manager and a transition of management of investment portfolio assets from RBC Brewin Dolphin is taking place in 2024/25.
Given the pursuit of a total return mandate, along with future expected asset class returns and low inflation, CPI + 3% has been set as the long-term performance target to pursue alongside the risk category benchmark of the portfolio. This target will continue to be subject to annual assessment as part of the annual review of the performance of the investment portfolio and our investment managers.
Whilst our investment policies have no specific ethical restrictions, we ensure that processes are in place with our investment managers to ensure that our investments are not in conflict with the charity’s objectives and we expect our investment managers to integrate environmental, social and governance aspects into their investment decision-making, providing evidence where appropriate.
During the year, our investments earned an income return of 2.8% (2022/23 2.7%) and had an increase on the opening capital value of 10.2% (2022/23 reduction of 5.5%).
At the year end, our investments managed by RBC Brewin Dolphin in the Long-Term Reserves Fund totalled £1.985m.
## **Reserves policy**
At 31 March 2024, the charity’s total reserves were £5.091m (2023: £5.110m), all of which are unrestricted funds (2023: £5.110m unrestricted).
The Board considers that the key issues that free reserves need to cover are to pay our operating costs for a number of months, ensure we have the funds to cover redundancy costs and that we have a proportionate amount set aside to pay for a reasonable settlement of financial obligations related to our shop leases.
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As a result, the target free reserves policy is set as the sum of:
- between 3-4 months of next year’s total cash expenditure;
- estimated total staff redundancy costs;
- 12 months of lease rental costs for the shops.
The above amounts to a target free reserves level ranging between £1.951m and £2.435m. Free reserves at 31 March 2024 were £3.431m (2023: £3.414m), significantly above the target range. However, we are anticipating annual deficits going forward in the medium term as we continue to:
- invest in our services and extend choice and reach as part of our new strategy
- refocus our fundraising and make investment in developing its capability and capacity
- invest in our people and their skills to ensure that we can maximise our impact for the benefit of BCYP and their families that we currently and look to support
- invest in IT, the wider business systems and other infrastructure projects that support the delivery of our work and will provide a greater platform for future growth.
Free reserves include a designated fund of £184k (2022/23 £353k) remaining to be invested in strategic service development. Note 19 of the financial statements summarises the current position on when that specific designated fund will be utilised.
## _**4. Risk assessment and management**_
The charity takes risk seriously and undertakes risk assessments in all key areas throughout the year. Risks are assessed on the basis of their likelihood and potential impact, and there are mitigation strategies in place to manage them. Risk registers were discussed and reviewed by the various subcommittees of the Board during the year.
The Integrated Governance and Risk Committee (IGRC) is a sub-committee of the Board and is accountable for ensuring an integrated approach to all areas of governance, including corporate, financial, income generating and marketing, and clinical. The Committee’s membership includes a minimum of three trustees, with the Senior Leadership Team in attendance at its meetings. Key aspects of its role include:
- leading on the development and monitoring of integrated governance and risk arrangements across the charity to ensure that the organisation delivers key priorities and manages risk efficiently, including safety, quality, finance, and income generation and marketing
- reviewing and providing the Board with assurance that the Board Assurance Framework and Strategic Risk Register are maintained and updated appropriately, and that the organisation can demonstrate that effective controls and assurances are in place to mitigate risk
- ensuring adherence to the Care Quality Commission’s (CQC) registration requirements and other relevant regulatory requirements for quality and safety as well as monitoring the charity’s response to the outcome of CQC inspections and ensure that appropriate actions are taken to any recommendations or warning notices
- ensuring adherence with Companies House and Charity Commission regulations.
A Risk Management Adviser participates on our Health & Safety Committee, offering specific advice on health and safety risks.
The Clinical Risk and Governance sub-committee meets quarterly with clinical representation from the Board to oversee the quality of the service and safeguard high standards of care. This sub-committee
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is accountable for evidence-based care, service user involvement, risk management, continuous professional development and clinical audit review and reports to the IGRC.
The Safeguarding Committee meets quarterly, is chaired by a clinical trustee with representation from the designated lead nurse from the local Integrated Care System (ICS). This sub-committee also reports to the IGRC.
The most significant key strategic risks for the year (and mitigation for those risks) are set out below:
|**Key strategic risks**|**Mitigations include:**|
|---|---|
|People - Failure to recruit and retain the|- structured recruitment procedures in place, with|
|right staff and volunteers|flexibility to respond differently for difficult to recruit roles|
||- clinical pay structures currently following Agenda for|
||Change|
||- external pay awards review completed with|
||affordable solution for non-AFC staff|
||- ongoing assessment and promotion of staff benefits|
||- training programmes in place|
||- people strategy workstreams taking place|
||- annual surveys and action plan when required|
||- opportunities for development being offered to staff|
||where possible|
|Strategy - Failure to make sufficient|- feedback very positive from families|
|positive feedback in our work|- KPIs in place and subject to ongoing review|
||- service offerings are kept under review|
||- new Care service structure in place in response to|
||changing needs of families and wider community|
||- very positive feedback from Commissioners|
||- actions from peer review being implemented|
||- self-assessment and wel-led review|
||- Board Assurance Framework in place|
|Financial - Failure to achieve long term|- wide diversity of income streams|
|financial sustainability|- monthly management accounts and regular review|
||of forecasts in place|
||- structured budgeting and forward projections review|
||process|
||- monthly cash flow forecasting|
||- no high dependency on one or two specific funders|
||- positive working relationships with Commissioners|
||- demand for and reputation of care services remain high|
||- investments managed by external investment|
||managers within set policy|
||- increased focus on developing new income streams|
||- experienced finance team leadership|
|Service delivery - Failure to respond|- Clinical risk register in place with Clinical Governance|
|adequately to operational risks|and Integrated Risk and Governance Committee oversight|
||- SLT addresses changing areas of risk, when required|
||- Health & Safety Committee overseeing related risks|
||- mandatory training for staff in key risk areas|
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- Patient Safety Incident Response Framework in place - structured reporting and investigation processes in place for potential safeguarding and health & safety incidents - cross organisational safeguarding team in place - protocols for management of infections and pandemic risk monitored in accordance with NHS guidelines - on-going dynamic risk assessments in place - health and safety adviser in place
- Infrastructure - Failure to have the right - ongoing IT and business systems investment technology - multiple systems and IT infrastructure cyber-security safeguarding measures in place, supported by staff training and Cyber Essentials accreditation - expert external data protection officer in place - mandatory annual data protection training for all staff - review of use of care database and incident management system carried out with improvements identified for further development - cross organisational Digital Working Group assessing and developing future investment priorities
## **Going concern**
The Board of Trustees have specifically assessed the financial status and going concern of the charity and related risks and has concluded that Haven House has sufficient resources to continue its operational existence for the foreseeable future and for at least a period of twelve months following the date of approval of these financial statements.
## _**5. Plans for the future**_
## **Care services**
The review of our care services during 2023/24 has allowed us to establish clear priorities for the future, in line with our 3-year strategy and consistent with our focus on increasing choice, reaching more families and working in collaboration with partners. Our particular priorities for the period ahead include:
- **Expanding our therapies offer** through the development of psychological support services for children and families and building on our existing strengths in music therapy, yoga, counselling and physiotherapy.
- Developing **a new and enhanced family support offer** , enhanced by social work expertise and with a particular focus on reaching our diverse communities and supporting older children and their families making the transition to adult services.
- Continuing to **develop our integrated nursing offer** so that we can provide high quality respite, end of life and hospice at home care and to strengthen our links with local hospitals and other healthcare providers, ensuring we provide the best possible pathways of care for our children.
To support the wider improvement of our care offer, we have established five overall themes for the development of our care service, consistent with our over-arching strategy:
14
- **Service delivery** , which includes the development of the new services described above, the development of outcome measures for our services and ensure our care services deliver sufficient activity to meet our commissioner income targets;
- **Equality, diversity and inclusion** , focused on the development of our cultural and spiritual offer, understanding the demographic make-up of our service users, and continuing to work to meet the needs of all of the diverse communities that we serve;
- **Family engagement and communication** , through the development and implementation of a new family engagement strategy which will focus on increasing the range and depth of engagement with our families, using co-production with families to develop our services, and making better use of technology in family engagement and communication;
- **Capacity and sustainability** , which include reviewing our buildings to identify where we may need more space, ensuring our buildings our environmentally sustainable, and continuing to review our digital systems to identify opportunities to develop and improve; and
- **Clinical quality** , which will cover the embedding of the new Patient Safety Incident Response Framework, continuing our work to ensure we meet the requirements of the new CQC Single Assessment Framework, and expanding our work in education and research.
## **Supporting services**
In order to enable these ambitions to develop our care services, we have agreed a number of enabling priorities to ensure we have the people, funding and infrastructure to meet our ambitions:
- We have agreed six priorities for our **People Plan for 2024/25** : continuing to improve attraction and recruitment with a focus on nursing staff; improving our organisational culture; investing in learning and development; creating a more inclusive working environment; improving wellbeing support to our staff, and investing in our volunteer workforce.
- Our **fundraising team** will be seeking an ambitious 20% growth in our income from voluntary fundraising, driven by new approaches to major donor income, grants and trusts, individual giving, digital fundraising and legacies; these ambitions will be supported by our new 4 pillar structure and continued investment in the capacity and capability of our fundraising team.
- We will continue to **invest in our infrastructure** through an agreed set of capital priorities focused on improving the safety of our core infrastructure; making major improvements to our family accommodation and our children’s entrance area; investing in a new bath and new cots for our children, and new digital devices to support technology in our care services
- During the course of the year, we will also begin work on the **development of a refreshed strategy** for our organisation, focused on how we meet growing and changing demand for children’s palliative care services in our area.
## _**6. Structure, governance and management**_
Haven House Foundation is a company limited by guarantee, is incorporated in the United Kingdom and is governed by its Articles of Association (last amended 4 June 2024). It is registered as a charity with the Charity Commission. Our working name is Haven House Children’s Hospice. Membership of the Company is limited to the Trustees of the Charity and there are currently fourteen members, each of whom agrees to contribute £10 in the event of the charity winding up.
15
## **Organisational structure**
The Board of Trustees, which can have an unlimited number of members, governs the charity. The Board is ultimately responsible for running the charity to ensure that it acts in the best interests of lifelimited and life-threatened children and young people, and their families, who are the charity’s beneficiaries.
The Board approves the charity’s strategy and future direction following advice from the charity’s staff and after consultation and discussion with the charity’s stakeholders. They set the policy and financial framework for the charity’s staff, volunteers, contractors, and others so that they can work together effectively to achieve the charity’s aims. They also ensure the charity complies with the law and they safeguard the charity’s assets.
The Board met four times during this accounting period. All Trustees give their time voluntarily and receive no benefit from the charity. Any expenses reclaimed from the charity are set out in note 8 to the financial statements.
A Chief Executive Officer is appointed by the Board of Trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Chief Executive Officer has delegated authority, within the terms of delegation approved by the Board, for operational matters including care, fundraising, finance, and employment matters.
Hospice and community services operate from The White House in Woodford Green on the edge of North East London and Essex. In addition, the charity operates seven retail shops.
## **Governance**
All Directors of the Company are also Trustees of the charity - there are no other Trustees.
Directors appointed prior to 4 June 2024 are appointed for an initial term of four years. At the end of the first term, they can be re-elected for one more four year term. They must then stand down but can be re-elected after a gap of one year.
Following a review of the Articles of Association, Directors appointed from 4 June 2024 will have an initial term of three years, after which they can be re-elected for one more three year term with an option to be appointed for up to three further years in exceptional circumstances, and on an annual approval basis. Directors appointed from 4 June 2024 may stand for re-appointment as a Director two years after their retirement.
The charity has Trustees' indemnity insurance for the benefit of its Trustees.
To further strengthen its governance arrangements and to support the delivery of the charity’s multiyear strategy, the charity continues to have in place its Board Assurance Framework and committee governance structure.
The Board Assurance Framework describes the integrated governance and internal control processes within the charity and the methods by which the Board and executive leadership of the charity receive assurance that it is operating safely and effectively. It is a strategic but comprehensive method for the effective and focused management of the principal risks that may prevent or limit the charity from achieving its strategic priorities. It also helps to inform decision-making and prioritisation of work relating to the delivery of the charity’s strategic priorities.
The committee governance structure means that four committees report to the Board as follows:
Finance and Resources Committee Integrated Governance and Risk Committee Integrated Service Development Committee Income Generation and Marketing Advisory Committee
16
Each of the above committees meet a minimum of four times per annum, provide reports to each Board meeting and include a minimum of two Trustees as part of their membership. Additional meetings are scheduled when required.
In addition, the Integrated Governance and Risk Committee is supported by three operational committees – Health and Safety, Clinical Risk and Governance, and Safeguarding.
## **Management**
The pay of the Senior Leadership Team is reviewed annually by the Finance and Resources Committee and benchmarked against the mid-range point for similar charities
## **Recruitment and appointment of Trustees**
The current Board of Trustees consists of fourteen members. During the reporting year two new clinical Trustees were appointed to the Board. Following Emma Devereux’s retirement, Charitha Dilini Rajapakse was appointed in December 2023 and is Chair of the Clinical Risk and Governance Committee.
## **Induction and training of Trustees**
New Trustees are given a role description setting out their duties and responsibilities and a copy of the New Trustee Information Pack. This includes the annual report and accounts, memorandum and articles of the organisation, vision and strategy information and Charity Commission guidance relating to the role and responsibility of being a trustee. Trustees also spend time with management and other staff to obtain greater understanding of the various activities of the charity as well as attending structured trustee training.
## **Working with other children’s hospice organisations**
The charity is a member of Together for Short Lives, a charity representing children’s hospices in the UK and Hospice UK, a charity representing all hospices in the UK. Both charities also have non-hospice members, covering organisations across the wider palliative and children’s palliative care fields.
The charity is also a member of CHaL (Children’s Hospices across London), a registered charity (1151317) and registered company (08248052). The directors are the Chief Executives of the six member children’s hospices.
## **Auditors**
Sayer Vincent LLP have indicated their willingness to continue in office and in accordance with the provisions of the Companies Act it is proposed that they be reappointed auditors for the ensuing year.
The Annual Report, which includes the Strategic Report, was approved by the Board of Trustees on 8 August 2024 and signed on its behalf by the Chair of the Board and the Treasurer.
**Ian Ailles Simon Boston Chair Treasurer**
## **Date: 8 August 2024**
17
## **Legal and administrative details**
## **Board of Trustees**
Ian Ailles (Chair) Matt Barrett Simon Boston (Treasurer) Rachel Brodie Charlotte Clements (appointed 19 March 2024) William Cooke Jonathan Harding Lucy Mavers Deirdre Mullner Mohamed Omer Charitha Dilini Rajapakse (appointed 12 December 2023) Stuart Rose Liesbeth Rubinstein-Newman Ghislaine Stephenson
## **Retirements**
Emma Devereux (resigned 16 November 2023)
## **Life Presidents**
Col (Retd.) Alan Hall MBE Anne Mallinson (deceased December 2023) Christine Mansell
## **Patrons**
Rt. Hon. Sir lain Duncan Smith MP Martin Ellice Barry Hearn OBE Vicki Michelle MBE Ben Shephard Ray Winstone
## **Ambassadors**
Rochelle Humes Harry Kane MBE Billie Shepherd Greg Shepherd Mark Wright
## **Senior Leadership Team**
Siân Wicks Chief Executive Officer (until May 2023) Gary Seager Interim Chief Executive Officer (from May to October 2023) Ralph Coulbeck Chief Executive Officer (from October 2023) Martin Mears Director of Income Generation and Marketing Richard Penney Director of Finance Sarah Spackman Director of Human Resources and Facilities Eileen White Director of Care (until September 2023) Aisling Kilbane Acting Director of Care (September 2023 to April 2024) and Director of Clinical Services (from April 2024)
18
## **Principal Bankers**
National Westminster Bank PLC Chingford Branch Chatham Customer Service Centre Western Avenue Chatham Marine Kent ME4 4RT
## **Auditors**
Sayer Vincent LLP Invicta House 110 Golden Lane London EC1Y 0TG
## **Risk Management and Health and Safety Adviser**
Cooper Safety Associates LLP Barn Cottage Malacca Farm West Clandon Surrey GU4 7UG
## **Pharmacy**
Specialist pharmacist for palliative and end of life care Guy's and St Thomas' NHS Foundation Trust
## **Registered Office**
The White House Mallinson Park High Road Woodford Green Essex IG8 9LB
**Charity number** : 1044296
**Company number** : 3000171
19
**Haven House Foundation - Financial Statements**
## **Trustee responsibilities in relation to the financial statements**
The Board of Trustees (who are also directors of Haven House Foundation for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees present their report and the audited financial statements for the year ended 31 March 2024. Reference and administrative information set out on pages 18-19 forms part of this report. The financial statements comply with current statutory requirements, the articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. This trustees’ annual report includes a directors’ report as required by company law.
Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources, including the income and expenditure, of the charitable company for that period.
## **In preparing those financial statements the Board of Trustees is required to:**
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the ‘going concern’ basis unless it is inappropriate to presume that the charity will continue in operation.
The Board of Trustees is responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **In so far as the Trustees are aware:**
- There is no relevant audit information of which Haven House Foundation’s auditors are unaware
- The Trustees have taken all steps that they ought to have taken in order to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Haven House Foundation website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The total number of guarantees at 31 March 2024 was 14 (2023: 13). The Trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
Approved by the Board of Trustees and signed on its behalf by:
**Ian Ailles Chair**
**Date: 8 August 2024**
20
**Independent auditor’s report**
## **To the members of**
## **Haven House Foundation**
Independent auditor’s report to the members of Haven House Foundation
## **Opinion**
We have audited the financial statements of Haven House Foundation (the ‘charitable company’) for the year ended 31 March 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- Give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended
- Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
- Have been prepared in accordance with the requirements of the Companies Act 2006
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Haven House Foundation’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
21
**Independent auditor’s report**
## **To the members of**
## **Haven House Foundation**
## **Other Information**
The other information comprises the information included in the trustees’ annual report, including the strategic report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise 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 the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- The information given in the trustees’ annual report, including the strategic report, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- ● The trustees’ annual report, including the strategic report, has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report including the strategic report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- The financial statements are not in agreement with the accounting records and returns; or
- Certain disclosures of trustees’ remuneration specified by law are not made; or
- We have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and
22
**Independent auditor’s report**
## **To the members of**
## **Haven House Foundation**
fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.
## **Capability of the audit in detecting irregularities**
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- We enquired of management and the Finance and Resources Committee, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:
- Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
- The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
- We inspected the minutes of meetings of those charged with governance.
- We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.
23
**Independent auditor’s report**
## **To the members of**
## **Haven House Foundation**
- We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
- We reviewed any reports made to regulators.
- We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
- We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
- In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities _._ This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Joanna Pittman (Senior statutory auditor)
## 13 August 2024
for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG
24
## **Haven House Foundation**
**Statement of Financial Activities** (incorporating an income and expenditure account)
## **For the year ended 31 March 2024**
|Note
**Income from:**
2
3
4
5
6a
6a
6a
6a
**Reconciliation of funds:**
Total funds brought forward
Net gains / (losses) on investments
**Net (expenditure) / income before net**
**gains / (losses) on investments**
**Net movement in funds**
Other trading activities
Charitable activities
Events and other fundraising activity
**Total funds carried forward**
Grants
Raising funds
**Total expenditure**
Shops
Provision of hospice services
Investments
**Total income**
**Expenditure on:**
Statutory funding for hospice care
Donations and legacies
Charitable activities|Unrestricted
£
1,912,696
1,265,216
96,001
1,738,981
85,664|Restricted
£
-
-
668,461
-
-|**2024**
**Total**
**£**
**1,912,696**
**1,265,216**
**764,462**
**1,738,981**
**85,664**
**5,767,019**
**971,983**
**941,815**
**170,925**
**3,851,469**
**5,936,192**
**150,711**
**(18,462)**
**5,110,311**
**5,091,849**
**(169,173)**|Unrestricted
£
1,544,518
1,409,723
104,241
1,613,800
55,819|Restricted
£
-
-
593,375
-
-|2023
Total
£
1,544,518
1,409,723
697,616
1,613,800
55,819|
|---|---|---|---|---|---|---|
||5,098,558|668,461||4,728,101|593,375|5,321,476|
||971,983
941,815
170,925
3,183,008|-
-
-
668,461||745,401
829,674
252,051
2,749,691|-
-
-
599,520|745,401
829,674
252,051
3,349,211|
||5,267,731|668,461||4,576,817|599,520|5,176,337|
||150,711
(169,173)|-
-||(176,688)
151,284|-
(6,145)|(176,688)
145,139|
||(18,462)
5,110,311|-
-||(25,404)
5,135,715|(6,145)
6,145|(31,549)
5,141,860|
||5,091,849|-||5,110,311|-|5,110,311|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 19a to the financial statements.
25
**Haven House Foundation**
## **Balance sheet**
|**Balance sheet**||||
|---|---|---|---|
|**As at 31 March 2024**||Company no. 3000171||
||**2024**
**£**
**1,660,365**
**1,985,022**|£
1,038,596
976,958|2023
£
1,696,621
1,800,337|
||**3,645,387**
**1,446,462**||3,496,958
1,613,353|
|||2,015,554
(402,201)||
|||2,049,621
3,060,690||
||**5,091,849**||5,110,311|
||**-**
**5,091,849**||-
5,110,311|
Approved by the trustees on 8 August 2024 and signed on their behalf by
Ian Ailles Chair
26
**Haven House Foundation**
## **Statement of cash flows**
## **For the year ended 31 March 2024**
|**Cash flows from operating activities**
Net (expenditure) for the reporting period
(as per the Statement of Financial Activities)
Depreciation charges
(Gain)/Loss on investments
Dividends and interest from investments
Loss on the disposal of fixed assets
Decrease/(Increase) in debtors
(Decrease)/Increase in creditors
**Net cash (used in) / provided by operating activities**
**Analysis of cash and cash equivalents and of net debt**
Cash at bank and in hand
**Total cash and cash equivalents**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
**Change in cash and cash equivalents in the year**
**Net cash used in investing activities**
**Cash flows from investing activities:**
Dividends and interest from investments
Purchase of fixed assets
Proceeds from sale of investments
Purchase of investments|**£**
**£**
**(18,462)**
**162,889**
**(150,711)**
**(85,664)**
**911**
**29,368**
**(62,292)**
**(123,961)**
**85,664**
**(127,544)**
**422,703**
**(456,677)**
**(75,854)**
**(199,815)**
**976,958**
**777,143**
At 1 April
2023
Cash flows
£
£
976,958
(199,815)
**2024**|**£**
**£**
**(18,462)**
**162,889**
**(150,711)**
**(85,664)**
**911**
**29,368**
**(62,292)**
**(123,961)**
**85,664**
**(127,544)**
**422,703**
**(456,677)**
**(75,854)**
**(199,815)**
**976,958**
**777,143**
At 1 April
2023
Cash flows
£
£
976,958
(199,815)
**2024**|£
£
(31,549)
166,225
176,688
(55,819)
690
(427,599)
82,958
(88,406)
55,819
(54,751)
427,807
(498,922)
(70,048)
(158,454)
1,135,412
976,958
Other non-
cash
changes
**At 31 March**
**2024**
£
**£**
-
**777,143**
2023|£
£
(31,549)
166,225
176,688
(55,819)
690
(427,599)
82,958
(88,406)
55,819
(54,751)
427,807
(498,922)
(70,048)
(158,454)
1,135,412
976,958
Other non-
cash
changes
**At 31 March**
**2024**
£
**£**
-
**777,143**
2023|
|---|---|---|---|---|
||**85,664**
**(127,544)**
**422,703**
**(456,677)**||55,819
(54,751)
427,807
(498,922)||
||At 1 April
2023
£
976,958||Other non-
cash
changes
£
-||
|||**(199,815)**
**976,958**||(158,454)
1,135,412|
|||**777,143**||976,958|
|||
Cash flows
£
(199,815)||
**At 31 March**
**2024**
**£**
**777,143**|
||976,958|(199,815)|-|**777,143**|
27
**Haven House Foundation**
**Notes to the financial statements**
## **For the year ended 31 March 2024**
## **1 Accounting policies**
## **a) Statutory information**
Haven House Foundation is a charitable company limited by guarantee and is incorporated in England and Wales.
The registered office address is The White House, Mallinson Park, Woodford Green, High Road, IG8 9LB.
## **b) Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102) and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.
The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## **c) Public benefit entity**
The charity meets the definition of a public benefit entity under FRS 102.
## **d) Going concern**
The Trustees, through regular financial and cash flow reporting at meetings of the Board and more detailed ongoing monitoring by the Finance and Resources Committee (a Board sub-committee), are kept informed on an ongoing basis of the financial performance, forward income, expenditure, cash flow and reserves projections of the charity, including potential risks affecting the underlying financial assumptions. As a result, the Trustees consider there are no material uncertainties about the charity’s ability to continue as a going concern.
## **e) Income**
Income, including voluntary income received by way of donations, is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
The charity receives donated goods for resale in its shops. The Trustees consider that estimating the value of the donated goods is impractical due to the volume of low-value items received and the absence of detailed stock control systems and records. Therefore, donated goods for resale are not recognised on receipt, instead income is recognised when goods are sold.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Recognition of legacy income is dependent on the type of legacy. Pecuniary legacies are recognised when notification is received. Residuary legacies are recognised when entitlement is established, and the value can be measured reliably. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Haven House participates in the Local Hospice Lottery scheme. Income is accounted for on a net cash basis as Haven House has no direct control over income generated and third party marketing costs.
28
**Haven House Foundation**
**Notes to the financial statements**
## **For the year ended 31 March 2024**
## **1 Accounting policies (continued)**
## **f) Donations of gifts, services and facilities**
Donated goods, facilities, and services in the financial statements comprise the provision of services and other gifts, and include discounts given for such goods and services where these are over and above normal commercial discount terms. These are included in the Statement of Financial Activities at the value of the gift to the charity; a corresponding amount is then recognised in expenditure in the period of receipt or, in the case of capital items donated over the expected lifetime of the asset. In accordance with the Charities SORP (FRS 102) volunteer time, including that of trustees, is not recognised.
## **g) Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **h) Fund accounting**
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for charitable purposes.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
## **i) Expenditure and irrecoverable VAT**
Expenditure is charged on an accruals basis at cost inclusive of any VAT which cannot be recovered. Staff costs are allocated directly to the activity for which they are incurred. Costs of generating funds comprise the costs associated with attracting voluntary income (donations, legacies and grants), fundraising activities such as events and the costs of operating the charity’s shops. Charitable expenditure comprises those costs incurred in the delivery of hospice services. It includes both costs which can be directly allocated and those of an indirect nature necessary to support them.
## **j) Allocation of support costs**
Directly attributable support costs, which include governance costs, have been allocated to activity cost categories based on staff time. Remaining support costs have been allocated across activities on the basis of average head count. These costs include providing Finance, HR for employees and volunteers, central Facilities and IT support. General costs related to the operation of The White House site are included in the overall Facilities costs for the organisation.
## **k) Operating leases**
Rental charges are charged on a straight line basis over the term of the lease.
## **l) Tangible fixed assets**
Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
- ˜˜˜˜˜ Improvements to propertyLeasehold propertyPlant and machineryEquipmentMotor Vehicles
Shorter of life of lease and 10% of cost Shorter of life of lease and 2% of cost 10% of cost 20% of cost 25% of cost
29
**Haven House Foundation**
**Notes to the financial statements**
## **For the year ended 31 March 2024**
## **1 Accounting policies (continued)**
## **m) Listed investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the Statement of Financial Activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the Statement of Financial Activities. The charity does not acquire put options, derivatives or other complex financial instruments.
## **Investments in subsidiaries**
The charity has a wholly owned trading subsidiary, Haven House Trading Limited, which was incorporated in the United Kingdom and has not yet traded. The investment in the subsidiary is £1. Consolidated accounts have not yet been prepared because the trading subsidiary is dormant and immaterial to the group.
## **n) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **o) Cash at bank and in hand**
Cash at bank and in hand includes working capital cash and deposits held at call within banks.
## **p) Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **q) Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **r) Pensions**
The pension costs charged in the financial statements represent the contributions payable by the charity during the period in accordance with FRS 102.
The charity operates a defined benefit scheme for staff previously employed within the NHS. The assets of the scheme are held by the NHS Superannuation Scheme. This is a multi-employer defined benefit scheme but is accounted for as a defined contribution scheme as the charity is unable to identify the underlying assets and liabilities in that scheme. Contributions to the scheme are charged to the Statement of Financial Activities to spread the cost of pensions over employees’ working lives with the charity. The contributions are determined by qualified actuaries based on periodic valuations.
The latest actuarial valuation undertaken for the NHS Pension Scheme was completed as at 31 March 2016. The results of this valuation set the employer contribution rate payable from April 2019 to 20.6% of pensionable pay, plus 0.08% administration fee. As a transitional arrangement that started in 2019 and has continued through 2023/24, the employer pays 14.38% to the scheme.
The charity contributes to the defined contribution schemes of those members of staff not included in the NHS Superannuation Scheme. The assets of the schemes are held separately from those of the charity. This scheme was set up to meet the government’s requirements regarding pension provisions for staff.
30
**Haven House Foundation**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **2 Income from donations and legacies**
|**Income from donations and legacies**|||||||
|---|---|---|---|---|---|---|
|Donations
Legacies
Gifts in Kind|Unrestricted
£
1,269,935
484,679
158,082|£
-
-
-
Restricted|**2024**
**Total**
**£**
**1,269,935**
**484,679**
**158,082**|Unrestricted
£
1,337,813
137,736
68,969|£
-
-
-
Restricted|2023
Total
£
1,337,813
137,736
68,969|
||1,912,696|-|**1,912,696**|1,544,518|-|1,544,518|
Gifts in Kind represent donated goods and services, principally billboards & advertising for Miles for Smiles £75,000 (2023: nil), Google advertising valued at £39,417 (2023: £31,772) and services at the Ball at £1,000 (2023: £35,000)
## **3 Grants for charitable activities**
|**Grants for charitable activities**|**Grants for charitable activities**||||||
|---|---|---|---|---|---|---|
|Unrestricted
£
NHS England Annual Grant
St James's Place Foundation
40,211
The Amy Winehouse Foundation
-
Florence Nightingale Aid in Sickness Trust
-
Albert Hunt Trust
15,000
Thomas J Horne
8,500
Pears Foundation
-
The Childwick Trust
-
The London Marathon Charitable Trust Limited
-
The Baily Thomas Charitable Fund
-
Others
32,290
96,001
Total income from charitable activities||£
618,750
-
20,000
17,250
-
-
-
-
-
-
12,461
Restricted|**2024**
**Total**
**£**
**618,750**
**40,211**
**20,000**
**17,250**
**15,000**
**8,500**
**-**
**-**
**-**
**-**
**44,751**|Unrestricted
£
39,041
-
-
20,000
8,500
25,000
-
-
-
11,700|£
518,875
-
20,000
12,000
-
-
-
15,000
13,000
10,000
4,500
Restricted|2023
Total
£
518,875
39,041
20,000
12,000
20,000
8,500
25,000
15,000
13,000
10,000
16,200|
||96,001|668,461|**764,462**|104,241|593,375|697,616|
## **4 Income from other trading activities**
|**Income from other trading activities**|||||||
|---|---|---|---|---|---|---|
|Shops
Local Hospice Lottery
Events
Other fundraising|Unrestricted
£
1,219,320
288,886
222,052
8,723|£
-
-
-
-
Restricted|**2024**
**Total**
**£**
**1,219,320**
**288,886**
**222,052**
**8,723**|Unrestricted
£
1,144,669
262,322
197,162
9,647|£
-
-
-
-
Restricted|2023
Total
£
1,144,669
262,322
197,162
9,647|
||1,738,981|-|**1,738,981**|1,613,800|-|1,613,800|
## **5 Income from investments**
Dividends on listed investments and other income Interest on bank deposits
|**2024**
**£**
**50,316**
**35,348**|2023
£
50,556
5,263|
|---|---|
|**85,664**|55,819|
All income from investments is unrestricted.
31
**Haven House Foundation**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **6a Analysis of expenditure (current year)**
|Staff costs (Note 8)
Other direct costs
Finance
Human Resources &
Volunteering
Facilities & other White House
costs
Information Technology
Support costs
Governance costs
**Total expenditure 2024**
Total expenditure 2023|Raising
funds
£
639,942
141,464
10,029
-
-
-
791,435
169,652
10,896
**971,983**
**745,401**|Shops
£
458,925
301,739
-
-
-
-
760,664
181,151
-
**941,815**
**829,674**|Events and
other
fundraising
activity
£
87,756
49,472
-
-
-
-
137,228
33,697
-
**170,925**
**252,051**|Charitable
activities
Provision of
Hospice
Services
£
2,232,239
831,582
-
-
-
-
3,063,821
754,960
32,688
**3,851,469**
**3,349,211**|Governance
costs
£
30,795
3,815
8,974
-
-
-
43,584
-
(43,584)
**-**
**-**|Support
costs
£
741,858
8,656
26,943
111,822
122,001
128,180
1,139,460
(1,139,460)
-
**-**
**-**|**2024**
**Total**
2023
Total
**£**
£
**4,191,515**
3,724,507
**1,336,728**
1,103,207
**45,946**
37,409
**111,822**
98,888
**122,001**
100,032
**128,180**
112,293
5,936,192
5,176,337
**-**
-
**-**
-
**5,936,192**
**5,176,337**|
|---|---|---|---|---|---|---|---|
32
**Haven House Foundation**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **6b Analysis of expenditure (prior year)**
|Staff costs (Note 8)
Other direct costs
Finance
Human Resources &
Volunteering
Facilities & other White House
costs
Information Technology
Support costs
Governance costs
**Total expenditure 2023**|Raising
funds
£
457,353
113,133
11,473
-
-
-
581,959
155,475
7,967
**745,401**|Shops
£
403,429
270,688
-
-
-
-
674,117
155,557
-
**829,674**|Events and
other
fundraising
activity
£
148,949
66,293
-
-
-
-
215,242
36,809
-
**252,051**|Charitable
activities
Provision of
Hospice
Services
£
2,061,943
650,731
-
-
-
-
2,712,675
607,754
28,782
**3,349,211**|Governance
costs
£
26,420
2,362
7,967
-
-
-
36,749
-
(36,749)
**-**|Support
costs
**2023**
**Total**
£
**£**
626,413
**3,724,507**
-
**1,103,207**
17,969
**37,409**
98,888
**98,888**
100,032
**100,032**
112,293
**112,293**
955,595
5,176,337
(955,595)
**-**
-
**-**
**-**
**5,176,337**|
|---|---|---|---|---|---|---|
33
**Haven House Foundation**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **7 Net (expenditure) / income for the year**
This is stated after charging / (crediting):
|This is stated after charging / (crediting):|||
|---|---|---|
||**2024**|2023|
||**£**|£|
|Depreciation|**162,889**|166,225|
|Loss on disposal of fixed assets|**911**|1,074|
|Operating lease rentals payable:|||
|Property|**223,400**|226,900|
|Other|**7,415**|13,591|
|Auditor's remuneration (excluding VAT):|||
|Audit|**13,375**|12,528|
## **8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**
Staff costs were as follows:
|Staff costs were as follows:|||
|---|---|---|
|Salaries and wages
Social security costs
Employer’s contribution to defined contribution pension schemes|**2024**
**£**
**3,568,369**
**355,920**
**267,226**|2023
£
3,201,379
316,675
206,453|
||**4,191,515**|3,724,507|
The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:
|||**2024**|2023|
|---|---|---|---|
|||**No.**|No.|
|£60,000|- £69,999|**1**|4|
|£70,000|- £79,999|**3**|-|
|£80,000|- £89,999|**1**|1|
|£90,000|- £99,999|**-**|1|
The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £542,307 (2023: £488,596).
Trustees were neither paid nor received any other benefits from employment with the charity in the year (2023:£nil). No charity trustee received payment for professional or other services supplied to the charity (2023:£nil).
Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £370 (2023: £233) incurred by 1 (2023:1) member relating to attendance at meetings.
34
**Haven House Foundation**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **9 Staff numbers**
The average number of employees (head count based on number of staff employed) during the year was 112 (2023: 104).
Staff are split across the activities of the charity as follows (full time equivalent basis):
|Staff are split across the activities of the charity as follows (full time equivalent basis):|||
|---|---|---|
|Raising Funds
Shops
Provision of hospice services
Support & Governance|**2024**
**No.**
**44**
**13**
**14**
**18**|2023
No.
40
12
14
16|
||**89**|82|
## **10 Related party transactions**
There is one related party transaction to disclose for this financial year of £1,500 (2023:£nil). Trustee Matt Barrett is a partner at Barrett Law Limited. Haven House paid Barrett Law Limited for professional services.
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
## **11 Taxation**
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
## **12 Tangible fixed assets**
|At the end of the year
At the start of the year
Charge for the year
At the start of the year
Additions in year
Disposals in year
**Depreciation**
**Cost**
Eliminated on disposal
At the end of the year
**Net book value**
At the start of the year
**At the end of the year**|Improvements
to Property
£
1,897,881
70,935
-|
Leasehold
land and
buildings
£
783,146
-
-|
Fixtures and
fittings
£
766,832
41,299
(1,783)|
Computer
equipment
£
168,077
15,310
(2,701)|
Motor
vehicles
£
51,189
-
-|
**Total**
**£**
**3,667,125**
**127,544**
**(4,484)**|
|---|---|---|---|---|---|---|
||1,968,816|783,146|806,348|180,686|51,189|**3,790,185**|
||966,358
64,780
-|216,563
15,663
-|633,469
45,890
(1,783)|111,844
32,096
(1,790)|42,270
4,460
-|**1,970,504**
**162,889**
**(3,573)**|
||1,031,138|232,226|677,576|142,150|46,730|**2,129,820**|
||937,678|550,920|128,772|38,536|4,459|**1,660,365**|
||931,523|566,583|133,363|56,233|8,919|1,696,621|
All of the above assets are used for charitable purposes.
35
**Haven House Foundation**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **13 Investments**
|**14**
**15**
**Listed Investments**
Cash
Private Equity and Property
Other creditors
UK Bonds and Equities
Non UK Bonds and Equities
Investments comprise:
Disposal proceeds
Fair value at the end of the year
Net gain/ (loss) on change in fair value
Additions at cost
Fair value at the start of the year
Investment in Trading Subsidiary
**Debtors**
**Unlisted Investment**
Trade debtors
Other debtors
Prepayments
Accrued income
VAT debtor
Legacies receivable
Amounts due to associated undertakings
Taxation and social security
**Creditors: amounts falling due within one year**
Accruals
Deferred income (note 16)|**2024**
**£**
**1,800,336**
**456,677**
**(422,703)**
**150,711**|2023
£
1,905,909
498,922
(427,807)
(176,688)|
|---|---|---|
||**1,985,021**|1,800,336|
||**1,985,021**|1,800,336|
||**2024**
**£**
**507,847**
**1,297,030**
**110,595**
**69,549**|2023
£
482,013
1,157,827
93,179
67,317|
||**1,985,021**|1,800,336|
||||
||**1**|1|
||**2024**
**£**
**90,686**
**26,623**
**36,463**
**145,571**
**520,907**
**188,978**|2023
£
587,030
28,610
32,722
102,515
124,000
163,719|
||**1,009,228**|1,038,596|
||**2024**
**£**
**86,761**
**137,599**
**1**
**98,248**
**17,300**|2023
£
77,529
127,406
1
142,826
54,439|
||**339,909**|402,201|
## **16 Deferred income**
Deferred income comprises funding that relates to specific time periods that have not yet occurred and the release of rent free periods within our leases
|Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year|**2024**
**£**
**54,439**
**(54,439)**
**17,300**|2023
£
66,837
(66,837)
54,439|
|---|---|---|
||**17,300**|54,439|
36
**Haven House Foundation**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **17 Pension scheme**
The charity operates a defined benefit pension scheme for staff previously employed within the NHS. The assets of the scheme are held by the NHS Superannuation Scheme. This is a multi-employer defined benefit scheme, but is accounted for as a defined contribution scheme as the charity is unable to identify the underlying assets and liabilities in that scheme. Contributions to the scheme are charged to the Statement of Financial Activities so as to spread the cost of pensions over employees' working lives with the charity. The contributions are determined by qualified actuaries on the basis of periodic valuations. The pension cost for the year was £140,829 (2023: £114,459).
The charity contributes to the defined contribution schemes of those members of staff not included in the NHS Superannuation Scheme. The assets of the schemes are held separately from those of the charity. The pension cost for the year represents contributions payable by the charity totalling £126,397 (2023: £101,931).
At the year end, £38,919 (2023: £21,521) was payable in respect of pension contributions.
## **18a Analysis of net assets between funds (current year)**
|**Analysis of net assets between funds (current year)**|||||
|---|---|---|---|---|
|**Net assets at 31 March 2024**
Tangible fixed assets
Investments
Net current assets|General
unrestricted
£
-
1,985,022
1,262,462|
Designated
£
1,660,365
-
184,000|Restricted
£
-
-
-|**Total funds**
**£**
**1,660,365**
**1,985,022**
**1,446,462**|
||**3,247,484**|**1,844,365**|**-**|**5,091,849**|
## **18b Analysis of net assets between funds (prior year)**
|**Analysis of net assets between funds (prior year)**|||||
|---|---|---|---|---|
|**Net assets at 31 March 2023**
Tangible fixed assets
Investments
Net current assets|General
unrestricted
£
-
1,800,336
1,260,354|
Designated
£
1,696,621
-
353,000|Restricted
£
-
-
-|**Total funds**
**£**
**1,696,621**
**1,800,336**
**1,613,354**|
||**3,060,690**|**2,049,621**|**-**|**5,110,311**|
37
**Haven House Foundation**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **19a Movements in funds (current year)**
|**Total restricted funds**
Total designated funds
**General funds**
Fixed Assets
**Unrestricted funds:**
Designated funds:
Other
**Restricted funds:**
NHSE Annual Hospice Funding
Music Therapy Fund
**Total funds**
Strategic Service Development
**Total unrestricted funds**|At 1 April
2023
£
-
-
-|
Income &
gains
£
618,750
20,000
29,711|
Expenditure
& losses
£
(618,750)
(20,000)
(29,711)|
Transfers
£
-
-
-|**At 31 March**
**2024**
**£**
**-**
**-**
**-**|
|---|---|---|---|---|---|
||-|668,461|(668,461)|-|**-**|
||1,696,621
353,000|127,544
-|(163,800)
(169,000)|-
-|**1,660,365**
**184,000**|
||2,049,621|127,544|(332,800)|-|**1,844,365**|
||3,060,690|5,121,725|(4,934,931)|-|**3,247,484**|
||5,110,311|5,249,269|(5,267,731)|-|**5,091,849**|
|||||||
||5,110,311|5,917,730|(5,936,192)|-|**5,091,849**|
The narrative to explain the purpose of each fund is given at the foot of the note below.
38
**Haven House Foundation**
## **Notes to the financial statements**
## **For the year ended 31 March 2024**
## **19b Movements in funds (prior year)**
|**Total restricted funds**
Total designated funds
**General funds**
NHSE Annual Hospice Funding
Music Therapy Fund
**Total funds**
Other
**Total unrestricted funds**
**Restricted funds:**
**Unrestricted funds:**
Designated funds:
Fixed Assets
Strategic Service Development|At 1 April
2022
£
-
-
6,145|
Income &
gains
£
518,875
20,000
54,500|
Expenditure
& losses
£
(518,875)
(20,000)
(60,645)|
Transfers
£
-
-
-|**At 1 April**
**2023**
**£**
**-**
**-**
**-**|
|---|---|---|---|---|---|
||6,145|593,375|(599,520)|-|**-**|
||1,808,785
353,000|54,751
-|(166,915)
-|-
-|**1,696,621**
**353,000**|
||2,161,785|54,751|(166,915)|-|**2,049,621**|
||2,973,930|4,496,662|(4,409,902)|-|**3,060,690**|
||5,135,715|4,551,413|(4,576,817)|-|**5,110,311**|
||5,141,860|5,144,788|(5,176,337)|-|**5,110,311**|
## **Purposes of restricted funds**
The NHS England hospice annual funding consists of funds received from NHS England to support existing hospice based palliative care, respite and community services.
The Music Therapy fund consists of funds received to fund the music therapy service.
## **Purposes of designated funds**
The Fixed Assets fund represents the balance of fixed assets that has not been funded from restricted donations.
The Strategic Service Development fund consists of funds that are designated to support future service developments. £169k was utilised in 2023/24 with the remainder planned to be utilised in the following year.
## **20 Contingent Asset - Legacy**
At the year end the Charity's legacy pipeline included a gift estimated at £150,000 for which the criteria for income recognition had not been met (2023: £nil).
## **21 Operating lease commitments payable as a lessee**
The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods
|Less than one year
One to five years|**2024**
2023
**£**
£
**223,400**
226,900
**390,501**
613,901
Property|**2024**
2023
**£**
£
**223,400**
226,900
**390,501**
613,901
Property|**2024**
2023
**£**
£
**7,415**
13,591
**20,520**
10,854
Other|**2024**
2023
**£**
£
**7,415**
13,591
**20,520**
10,854
Other|
|---|---|---|---|---|
||**613,901**|840,801|**27,935**|24,445|
## **22 Legal status of the charity**
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.
39
**Haven House Foundation - Financial Statements**
## **Thank you**
Our vital work would not be possible without the dedication and generosity of our supporters and volunteers. We would like to thank all who have helped us to enable our children and their families to receive the care and support they need, when they need it. Though some have wished to remain anonymous, we would like to say a special thank you to the following organisations and individuals:
Amy Winehouse Foundation Assemble Media Group Bancroft's School Ben Shephard BGC Partners Billie & Greg Shepherd Blueprint Fitness BNY Mellon Corporation Campbell Johnston Clark (CJC Law) Charles S French Charitable Trust Chigwell Group (Chigwell Construction and Chigwell Windows) Craig Davies Dechert LLP Douglas Allen (Arun Estates) East West Connect Florence Nightingale Aid In Sickness Trust Galliard Homes Ltd Guy Carpenter Jon Richardson Joseph and Lilian Sully Foundation Just Helping K Patel LK LAW LLP Local Hospice Lottery Macfarlanes LLP Maria Borg Barthet Mark Wright Matchroom Sport Charitable Foundation Michael J Lonsdale Mr A Wood Mr and Mrs A Wiseman Mr and Mrs Vanlint Mr J Harding Mr J Mortimer Mr K J Shannon Mr W Cooke Ocean Holidays Orbian Overbury Southern PLC POETS Luncheon Society Savills
**Haven House Foundation - Financial Statements**
St James's Place Charitable Foundation Temasek International (Europe) Limited The Albert Hunt Trust The Gerald Ronson Family Foundation The Harry Kane Foundation The Media People The Thomas J Horne Memorial Trust Together for Short Lives Winged Boots