Company No 03063721 Charity No 1048934 WOODLANDS HOSPICE CHAIUTABLE TRUST CONSOLIDATED FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2024
WOODLAIWS HOSPICE CHARITABLE TRUST CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 CONTENTS Page Company infonnation Triistees annual report 2-12 Independent aiiditors, rcport to the members and Trustees 13-16 Consolidated statement of financial activities 17 Summary income and expendittire account 18 Consolidated balance sheet 19 Charitable company balance sheet 20 Consolidated cash flow statement 21 Notes to the consolidatcd financial stalein¢nts 22-40
WOODLANDS HOSPICE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 Company Registration No. 03063721 Charity Registration No. 1048934 Registered Office AUH Campus Longmoor Lane Liverpool L9 7LA Directors and Trustees B. Bartlett BA Hons Dip Arch RIBA (Chairman) C. J. Hudson (Vice Chairnian) C. Walthcw (Treasurer) Dr C. M. Hubbcrt MRCGP DRCOG C. Brennand FCA A. Johnson R. Lee S. Wooliscroft c.xi Company Secretary R. C. Johnston Auditors Lonsdale & Marsh 509-51 O Cotton Exchange Bixteth Street Liverpool L3 9LQ Solicitors Hill Dickinson No I St Pauls Square Liverpool L3 9SJ Bankers National Westminster Bank PIC Corner Longmoor Lane and Cedar Road Liverpool L9 OEG Investment Managers Investec Wealth & Investment (UK) Port of Liverpool Building Pier Head Liverpool L3 INW
WOODLANDS HOSPICE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR EIYDED 31 MARCH 2024 The Trustees present their report and the financial statements of the charity for the year ended 31 March 2024. The company infornlation set oiit on page I fornis part of this report. The financial statements have been prepared in accordance with ihe accounting policies set out in Note I to the fiiiancial stateiiients and coinply with the Charities Act 2011. Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Fiiiancial Reporting Standard applicable in the UK Republic of Ireland (FRS 102) and with the company's Memorandum and Articles of Association. INTRODUCTION The incorporated charity is governed by the M¢morandum and Articles of Association. The first members of th¢ coiiiicil of management ivere appointed trustees of Woodlajids Hospice Charitablc Trust under tl)e terins of a TrLlSt Deed dated 6 July 1992. LEGAL STATUS Tlie charity, whicli was incorporated on l June 1995. is limited by guarantee wl)ereby each member of the company undertakes to contribute such amoiint as may be required, not exceedii)g £ I, to the company's assets if it sljoiild be woiind up while lielshe is a Inember" or wiiliin one year after helshe ceases to be a meinb¢r. for payment of the company's debts and liabilities contracted before helshc ceases to be a iiieinber, and of the costs, charges and expenses of winding up. and for the adjustment of the rights of tl)e contributories among themselves. PURPOSE and PUBLIC BENEFIT The piirpose of Woodlands Hospice is to promote and deliver a specialist palliative care service to the residcnts of North Liverpool, Soiith S¢fton, and Kirkby in Knowsley who are living with a life limiting illness throiigh the establishment and maintenance of hospice facilittes. The direct piiblic benefits tliat flow from this purpose are (i) Improving the qiiality of life of those living with life limitiiig illnesses, (li) Reduction in hospital admissions of tliose wl)o could benefit froin Iiospice care, (iii) Emotional and psychological support for patients and th¢Ar families, (iv) Educatioii and training of other local organisations caring for those with end of life care needs (v) Allowing patients to die in their preferred place of care, (vi) Enhancing and retaining independence for those living witli a life limiting illness. These benefits can be evidenced through the feedback received from patients and fainily's satisfaction siirveys, positive feedback received from Trustee visits and the Key Perforinance Indicators reported to Ti'ustees. senior staff and commissioners. Tliere is no private benefit flowing from the organisation. Beneficiaries of Woodlands Hospice are people living with a life limiting illness and their families living in the local or wider area. The Trustees have complied ivith a duty in Section 4 of the Companies Act 2006 and confirm that they hav¢ referred to the giiidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
WOODLANDS HOSPICE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 ORGANISATION A Board of Trustees comprising twelve members (three current vacancies carried in year) adininisters the charity. New Trustee appointments are recommended by the Nominations Cominittee and approved by the Board. A full induction programme is provided for all new Trustees to ensure that they are aware of the charity, s objects, strategy and activities and their responsibilities as Trustees. The Board has established formally constituted sub-committees, each with specific tenns of reference and functions, delegated by the Board and with a Trustee as Chair. Th¢ established coinmittees are Personnel, Finance (which overviews Income Generation), Patient and Family Services Governance, Governance (which overviews the staff - led Health and Safety Committee) and the Investment and Reserves sub-committee. There is an additional Capital Projects sub-committee which is chaired by a Trustee to keep pace with any capital projects or planning. These committees meet on a regular scheduled basis with at least three meetings held each year for each committee. Full minutes of all committee meetings are submitted to the Board meetings held every three months. The Triistees delegate the day-to-day management of the hospice to the Chief Executive, Mr Robcrt Johnston. Mr Johnston works closely with the Executive Management Team. Day to day decisions are taken within individual teams, with managers whcre appropriate, and escalated to the Executive Management Team if they impact on the wider organisation. The Chief Executive's salary is based on benchmarking against other hospices. These are recommended by the Triistee led Personnel Committee, supported by the Trustee led Finance Committee and approved by the Board of Trustecs. CONSTITUTION The Woodlands Hospice Charitable Trust was established as a Charitable Trust by a Trust Deed dated 6 July 1992 under registered number 1048934. The Trust was wound down under the ternis and conditions of the Trust Deed on 31 December 1995 and at that date the assets of the Trust were donated to Woodlands Hospice Charitable Trust Limited. The coinpany was incorporated on l June 1995 under the Companies Act 1985 as a private company limited by guarantee under company number 03063721. PRINCIPAL ACTIVITY The principal activity of the company during the year was to deliver a specialised palliative care service to local people and their families, through collaboration with LUHFf and Merseycare. REVIEW OF DEVELOPMENTS, ACTIVITIES AfiD ACHIEVEMENTS Inpatient bed occupancy has maintained very high levels throughout the year with increases in oiitpatients. ambulatory patients and their siipport from Patient and Family Services, tt's very much a hospice working at capacity.
WOODLANDS HOSPICE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 STRATEGIC REPORT Woodlands Hospice Charitable Triist in Liverpool plays a crucial role in providing palliative care services to patients with life-limiting illnesses. The Triistees, Anniial Report of Woodlands Hospice providcs a coinprehensive overview of tlie organisation's financial perforniancc. achievemeiits, challenges, and strategic direction for the fiiture. This report reflects the commitment and dedication of the Trustees, staff, volunteers, and donors in supporting the charity's mission. Together, Iviih oiir collaborators. we aiipl lo suppoi'l and eipipoiver our coipiiiiunity, providing iheiii with exceplional tyealiiienl andcare, alloiving iheiii lo iiiainlain a seiise ofnoriiialityfor as long aspossible. The Woodlands Hospice Charitable Trust's annual report for the year ending in March 2024 provides insights into the operations and services offered by the charity. It includes detailed information on patient and family services, siipport services. volunteer services, and income generation activities. Throiigli this report, tlie Triistees aim to transparently cominunicate the impact of their work and thc utilisation of resources to meet the iieeds of the community we aim to serve. One of tl)e significant aspects covered in the Trustees, Annual Report is the financial performance of Woodlands Hospice. The report includes detailed consolidated fjnancial statements, which oiitline the incoiniiig resoiirces, expenditiire, assets, and liabilities of the organisation. This fiA)ancial transparency is essential iii building trust with our stakeholders. including donors. funders, delivery partiiers and regulatory bodies. Fiirtliermore, the Triistees, Anniial Report highlights the challenges and opportunities faced by Woodlands Hospice in delivering palliative care services. Tliese challenges may include funding constraints, staffing issiies, regulatory changes, and the increasiiig deimand for palliativc care in the coininuiiity. By addressing these challenges in the anniial report, tlic Trustees deJnoJistrate tlieir awareness of the operatioiial enviroiiinent aiid their cominitinent to overcoming obstacles to continue providing high-qiiality care. Moreover, oiir Trustees, Anniial Report serves as a platfonn to recognise the contributions of staff. volunteers, aiid doiiors to the success of Woodlands Hospice. It acknowledges their dedicatioii, hard work, and geiierosity in siipportiIig the charity's mission. By expressing gratitiide and appreciation in the report, the Trustees reinforce a cultur¢ of recognition aiid inclusivity withii) the organisation. In addition to reviewing past performance and achievements. the Trustees, Annual Report outliiies the strategic direction and goals for the future. This forward-looking approach is cssential in ensuring the long- terin siistainability and relevance of Woodlands Hospice. By settiiig clear objectives and priorities, the Triistees provide a roadmap for the organisation's giolvth and development in the coming years. Woodlands Hospice's Trustees, Annual Report also plays a crucial role in accountability and governance. By disclosing information on governance structiires. decision-making processes, and regulatory compliaiice, the report assiires stakeholders of the charity's commitment to ethical practices and transpareiicy. This accountability fosters trust and confidence in the organisation's leadership and operations. In concliision. the Trustees, Annual Report of Woodlands Hospice in Liverpool is a comprehensive docuin¢nt that reflects the organisation's comm itment to excellence, transparency. and accoiintability iii deliveriiig palliative care services. Throiigh this report, the Trustees commiinicate thelr achievemeiits, challenges, and fiiture plans. while also recognising the contributions of stakeholders. The annual report not only serves as a tool for goverA)ance and accoiintability but also as a platform forsharing best practices and driving continuous improvemeiit in tlie palliative care sector.
WOODLAIYDS HOSPICE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 Governance Maintaining good governance is essential for the Woodlands Hospice Charitable Group to operate effectively, ethically. and transparently. Good governance ensures ihat the charity fulfils its legal and ethical obligations, acts in the best interests of its beneficiaries and Maintains the trust and confidence of stakeholders, Here are some key practices that Woodlands Hospice Charitable Group employs to maintain good governance: l. Compliance with Legal and Regulatory Requirements The charity complies with the legal and regulatory framework set out by tlie Charity Commission and Companies House. This includes adhering to charity law, filing annual reports and accounts, and meeting reporting requirements. The charity also complies with relevant Icgislation, such as data protectioii laws. employment laws and health and safety regulations. 2. Effective Trusteeship Woodlands Trustee's play a crucial role in governing and overseeing the activities of th¢ charity. Trustees are responsible for setting the charity's Strategic direction, ensuring compliancc with legal requireinents, and safegiiarding the charity's assets. Effective trusteeship involves recruiting trustees with diversc skills and experience, providing training and support for trustees, and fostering a culture of transparency and accoiintability at board Icvel. The board has matured in to a highly effective and engaged group of highly skilled professionals covering all the keys areas. 3. Clear Govemance Structures Wc have established clear governance struclures to define roles. responsibilities. and decision-making processes within the organisation. This includes the establishment of a board of trustees, sub Committees, and task and finish groups. The board activity is supplemented with an cxecutive group of managers chaired by the Chief Executive to drive the operations and also to create governance documents, to outline the charity's purpose. governance arrangements and operating procedures. 4. Risk Management The charity has robust risk manag¢ment proccsses to identify, assess, and mitigate risks that may impact the charitys operations and objectives. This includes conducting risk assessments, developing risk management policies, and monitoriiig and revieiving risks on an ongoing basis. Effective risk maiiageinent helps tlie cliarity to anticipate and address potential challenges proactively. 5. Financial Management and Transparency We maintain sound fiscal management practices to ensure the responsible stewardsliip of funds and resources. This incliides preparing annual budgets, financial reports, and accounts in accordance with accounting standards. Furthermore. we also disclose financial inforination to our stakeholders sucli as donors, funders. and regulators to demonstrate transparency and accountability in our financial affairs. 6. Ethical Fundraising Practices The charity adheres to ethical fundraising practices to maintain the trust and confidence of donors and the public. This includes complying with the Fundraising Code of Practice, ensuring that fundraising activities are conducted in a transparent and respectful manner, protecting the privacy and rights of donors and furthermore, we disclose infomiation about how funds are raised and used to donors and the public.
WOODLANDS HOSPICE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 7. Impact Measurement and Evaluation We are increasing our fociis on Jneasiiring and evaluating the impact to asscss the effectiveness of our prograins and services. This involves setting clear objectives, collecting data on outcomes and outputs, and using evaluation findings to infom) decision-making and improve servic¢ delivery. By demonstrating their impact we continiie to build credibility and trust witl) stakeliolders. 8. Continiious Learning and Improvement As a professional organisation we prioritise continiioiis learning and improvement to enhance our governance practices and organisational perforniance. Tliis may involv¢ conducting governance reviews, seeking feedback from stakeholders. participating in training and development opportunities, and staying informed abolit einerging trends and best practices ill the charity sector. By fostering a culture of learning and improvement, we've been able to adapt to changing circuinstances and strenben our governance practices over tiine. By implementing these key practices, we've continuously improved our governance, upheld oiir values and mission, and ensiired the effective and sustainable delivery of services to our beneficiaries. Good governance is essential for biiilding triist, accountability, and credibility within our sector and for fulfilling oiir charitable purposes for which ive were established. Fundraisin Woodlands Hospice like inany hospices faces fuiiding constraints. To address thesc cliallenges aiid eiisiire the siistaiiiability of oiir palliative care services, tlie cliarity employs various strategies and initiatives. Heir are soine ways iii wliicli Woodlarftds Hospice addresses fundiIJg constraints: l . Diversification of Income Sources Woodlands Hospice recognises the importance of diversifying its income soiirces to rediicc reliance on a single fiiIiding streain. Thc charity actively seeks funding from a variety of sources, iiicliiding govcrnment graiits, donations from individiials and corporate partiiers, fundraising events, and legacy gifts, By diversifying its income streams, Woodlands Hospice can mitigate the iinpact of fluctiiations in funding froin any one soiirce. 2. Fundraising Events and Campaigns Woodlands Hospice organises fundraising events and campaigns throughout the year to raise awareness abolit its services and generate financial siipport. Thesc events may incliide charity walks, sponsored runs, gala dinners, and online fiindraising campaigns. By engaging with the commuiiity and encouraging participation in fundraising activities. Woodlands Hospice can continue to attract new donors and supporters to contribute to its funding needs. 3. Grant Applications and Partnerships Woodlands Hospice actively seeks grants from government agcncie4 charitable foundations, and other fiinding bodies to siipport its programs and services. The charity has collaborated with partner orgaiiisations to apply for grants that align ivitli its mission and objectives. By leveragiiig partiiersliips and grant opportunities, Woodlands Hospice can acc¢ss additional funding sources to supplemeiit its budget and expand its services.
WOODLANDS HOSPICE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 4. Donor Stewardship and Relattonship Building Woodlands Hospice places a strong emphasis on donor stewardship and building long-terni relationsliips with supporters. The charity acknowledges and appreciates the contributions of donors through personalised comn]unications. donor recognition events, and updates on the impact of their donations. By cultivating strong relationships with donors, Woodlands Hospice fosters loyalty and continiied support for ils funding needs. 5. Eificiency and Cost Management Woodlands Hospice continuously evaluates its operational eificiency and cost management practices to maximise the impact of its funding. The charity may implement cost-saving Ineasures, streamline processes. and optimise resoiirce allocation to ensure that funds are iised effectively to support patient care and services. By Inaintaining financial prudence and accountability. Woodlands Hospice makes the most of its available resources. 6. Legacy Giving and Planned Giving Programs Woodlands Hospice encoiirages supporters to consider legacy giving and planned giving as a way to support the charity in the long terni. Legacy giving involves leaving a gift in one's will to the charity, while planiied giving may include donations of assets. By promoting legacy and planned giving programs, Woodlands Hospice can seciire future funding and build a sustainable financial foundation for its operations. 7. Limited Company Activities There's a real ambition to open more shops with one in Maghull opened this year and a further three planned. The shops bring in much needed revenue and also serve to inforn) the community about their local hospice. Overall, Woodlands Hospice employs a multi-faceted approach to address funding constraints and ensure the continued provision of high-quality palliative care services to patients and their families. By diversifying income sources, increasing the shop portfolio and managing costs efficiently Woodlands Hospice demonstrates its commitmcnt to financial sustainability and rcsilience. With a clear vison. mission. values and plans the team demonstrates consistently critical qualities of accoiintability, empathy, fortitude, foresight. selflessness. and integrity. Future develo ments The financial year 2024125 will see the completion of the work around the building to improve the experience of everyone who attends the hospice. Furthennore, after much invcstigation and consideration this year will see the first large scale concerted effort to fix the longstanding roof issues. Further investment into the fundraising capability will see two new posts specifically to increase Community and Corporate fundraising with a concerted effort to fill the vacant Grants Manager position with someone skilled and experienced to l¢ad this important area. The charity shop numbers increased by going back to Maghull with a totally different model to the one we previously had there, which has proven to k fruitful. The hospice will continue to deliver services to meet the ongoing needs of our patients and their families. The robust governance structures in place will ensure continiiing high standards of quality and safety together with adherence and compliance to r¢giilatory requirements.
WOODLANDS HOSPICE CHARITABLE TRUST TRUSTEES. ANNUAL REPORT YEAR ENDED 31 MARCH 2024 There are no immediate plans to Change the constitution of the Trustee Board as it works exceptionally well. Patient and Famil Services Patient and Family services have the spccialist skills to provide personalised and compassionate care that significantly contribiites to the building of trust with patients which can make tlie differcncc between a patient choosing to seek support. or not. Creating an environment where patients feel comfortable and supported has a profoiind positive impact. A notable accomplishment from this year has been the successful implementation of the drop-in groiip whicli lias liad a positive impact by cmpoivering patients. The team are proiid of their partnership with Vauxhall Law Centr¢ who are an integrated part of the team holding specialist advice clinics at the hospice. The pandemic has had an enormoiis impact on people's well-being, and the hospice has seen an iiicrease in referrals and complexity. Patient and Fainily Services liave been creative witli the liinited resources. Morc voluiiteers have been recriiited into the Patient and Family Services Team, providii)g iraining, mentorship and siipervision whilst developing new roles to meet challenges and unmet need. Patient experience has been enhanced with the introduction of Woodlands Hospice tipple trolley facilitated by ti'ained voliinteers. Tlie Team will continue to focus on our mission and dejnonstrate our values in providiiig excellent coinpassionate therapeutic support. uali and Im rovement Each year every department has been busy adding or iipdating policies to better reflect tlie present coinpliance environment with agr¢¢ment froin the respective sub-committee. Facilities and Infrastructure The IPU has had a complete refresh, incliided in tl)is are all the rooms and many of ihe offices and corridors. Work coiitinucs across the site to iinprove everything from ligliting and Iieating to the gardens. Patient Information S stemslData Collec(ion and Re ortin Continued development of impact reporting to include outcome measures that demonstrate the difference made, through audits iindertaken with organisational partners and service users. It is ensiired that the OTgani5ation meets the standards measured by the NHS Data Security and Protection Toolkit and LUHFT Infectioii Prevention Controls. Carefiil consideration has been given to compliance with General Data Protection Regulations (GDPR) across the organisation. Senior tneinbers of staff hold the positions of Senior Inforniation Risk Owner and Caldicott Guardians.
WOODLANDS HOSPICE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 IVIARCH 2024 Human Resources The Trustees, the workforce and the volunteers have consolidated in to a stable and highly effective groiip of people aligned to deliver the ambitions of the charity. Motivation and morale are judged to be high across the group with a new positive 'can do. culiurc embedded within our people. We maintain high levels of participation in the e-Learning platforni which is enabling more modiiles of high- quality training to be dclivered, whilst encouraging attendance on courses to achieve nationally recognised CPD qualifications. HR has increasingly supported the CEO on culture change and perforinance improvement journey. The People HR app is fiilly installed and supports holidays and is used to enable staff to receive messages regarding the hospice. This app is increasingly becoming a place of truth for employees witli Inore documents such as policies being uploaded to it. Procedures, proc¢sses and paperwork for HR contiiiue to be reviewed and updated along with the Iiandbook for volunteers and salaried staff. Volunteers Our strategy for the recruitment training and retention of volunteers has gone well with new volunteers recruited to all aspects of the charity. Our volunteers are a remarkable group of people who are talented, committed and enthusiastic and withoiit whom the charity could not function. External Relationshi s and Collaborations Throughout the year the charity has continued to work in collaboration with clinical and managerial colleagues in LUHFT and Merseycare. As well as other hospices in the region in order to support each other. We have continued to work collaboratively with other providers in thc best interest of Woodlands patients and service users. W¢ liave been promoting the work of the charity to improve wplc's understanding of hospice care and the services provided. Finance De artment This department has come throiigh a lengthy development process. from improving cash handling to making all heads of department, financial managers who can readily understand financial information whilst on a journey to be more effective budget holders. Marketin and Communications This department plays an integral role across all department with a focus on support for fundraising and building our brand across oiir area. We are visible on all known mainstream platforn]s and much of our dcsign work is undertaken in house.
WOODLANDS HOSPICE CHARITABLE TRUST TRUSTEES, AIYNUAL REPORT YEAR ENDED 31 MARCH 2024 Overall Result Tlie final position for the Woodlands Hospice Charitable Group, prior to gains on investments, was a loss of £112k (2022123: gain of £2k). To this loss is deducted the gain in value of investtnents amounting to £46k (2022123: loss of £64k). This resiilts in an overall decrease in res¢rv¢s of £66k (2022123 decrease of £62k). Reserves and Investment Policies A Task and Finish Group has been convened to explore both our reserves and investment practiccs and modernise the policy environment. The Group has met regularly and invited specialists to address both the Task and Finish Group and the Board. Both policies are presently being re-written. The objectives of the investment policy, as documented by the Trustees, is for the fiinds held in the portfolio to provide an above inarket averagc incoine froin the siirpliis capital of the charity. aiid to acliieve a balanced retiirn from income and capital groivth. The investment policy of tl)e Triistees documents a inedium level of risk for the portfolio. Whilst the Triistees do consider the ethtcal implications of the investtnents held iii the portfolio by placing restrictions on direct investinenls in entities that may b¢ in coiiflict witli the cliaritablc objects of tlie l)ospice, tliey do iinderstaiid that by iising a collective approach it is iinpossible to avoid some sectors. The current reserves policy of the Woodlands Hospice Charitable Group is that unrestricted funds, wliicli Iiave not beeii designated for a specific iise, should be inaintained at a level equivalent to approxiinately teii Inontlis of ciistomary anniial expenditure, being approximately £lm. The trustees consider that reserves at this level will ensiire that, in tlic event of a significant drop iii fiinding, they will be able to continiie tl)¢ cliarity's current activities while consideration is given to ways in Nvliich additioiial funds Inay bc raised. Tliis level of reserves has been maintained throiighout the year. Pi'inci al Risks aii(l Uncertainties Tlie Board of Trustees revieived aiid identified the major risks and iincertainties that had the potential to impact the liospice. These were ongoing financial uncertainty and tlie necessary repairs to the roof. 10
WOODLANDS HOSPICE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 TRUSTEES, RESPONSIBILITIES The Trustees, who are also the directors of Woodlands Hospice Charitable Trust for tlie purpose of company law, are responsible for preparing the Trustees Report and th¢ financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees miist not approve the financial statements unless they satisfied that they give a true and fair view of the state of afrairs of the charity and of the incoming resources and application of resources, incliiding the income and expenditure, of the charitable company for that year. In preparing these accounts, the Trustees are required to: select suitable accounting policies and then apply them consistently. observ¢ 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. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that are siifficient to shoiv and explain the charity's transactions and disclose with reasonablc accuracy at ai)y time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They ar¢ also responsible for safeguarding the asscts of the charity and hence for taking reasonable steps for the prevention and detcction of fraud and other irregularities. The Triistees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions. THE TRUSTEES The Triistees, who are also Directors for the purposcs of company law, who served the charity during the year and the period up to which the accounts were approved were as follows: B. Bartlett BA Hons Dip Arch RIBA (Chairnian) C. J. Hiidson (Vice Chaimian) C. Walth¢w (Treasurer) Dr C.M. Hiibbert MRCGP DRCOG C. Brennand FCA A. Johnson R. Lee S, Wooliscroft c.xi None of the trustees has any beneficial interest in the company.
wOODLAIs HOSPICE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 RELATED PARTIES AND OTHER CHARITIES Tlie charity has one wholly owned subsidiary, Woodlands Hospice Limited. The subsidiary operates a lottery and cliarity shops and uses this to support Woodlands Hospice Charitable Trust. RISK MANAGEMENT The responsibilities of Trustees are defined by the Memorandum and Articles of Association, The Charities Act and company law. These responsibilities include: Ensiiring tliat the charity only undertakes activities that are ivithin their objects and powers. Actiiig only in tlic interests of the charity and its beneficiaries. Taking decisions in keeping with their duty of care and diity to act priidently. Establishing management arrangements to ensiire appropriate standards and procediires are in place, that those standards and procediires are coinplied with and corrective action takeii where iiecessary. Ensiiring compliance with all relevant statutory regulation and adoption of best practice priiiciples. Tlie Triistees obtain comfort that their responsibilities are discharged by: Regiilar reports to thc Board of Trustees. Iiidependent aiidit of tlie accoiints and financial systems. Tlie aiithority of the Personnel, Financc. Patient and Family Services Governance and Governance Committees. The adoption of the appropriate policies and proc¢dur¢s including the risk manageineijt policy. Audit by external agencies (e.g. Fire Service, Environmental Health Inspectors, Insiirance Company) The triistees have examined the major stratcgic. biisiness and operational risks ivhich tl)e cliarity faces and confirm tliat systcms Iiave been established to enable regular reports to be produced so tliat iiecessary steps cai) be taken to lessen thesc risks. AUDITORS A resolution to re-appoint Lonsdale & Marsh will be put to the Annual General Meeting. STATEMENT OF DISCLOSURE TO AUDITORS Iii so far as the Triistees are aware there is no relevant aiidit inforination of wliich tlie cl)aritable company's auditors are unaware, and each Triistee has taken the steps that they ought to have taken as Trustees in order to inake theinselves aivare of any relevant aiidlt information and to establish tliat the charitable coinpany, s, aiiditors are awar¢ of that infonnation, Registered office: Woodlands Hospice AUH Campiis Longinoor Lane Liverpool L9 7LA Signed b der of the Trustees Mr B Bartlett Hons Dip Arch RIBA Trustee (Chaimian) Approved by the Triistees on 26 November 2024 12
WOODLANDS HOSPICE CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF WOODLAM)S HOSPICE CHARITABLE TRUST Opinion We have audited the financial statements of Woodlands Hospice Charitable Trust (the "parent charitable company") and its subsidiary Woodlands Hospice Limited (the "group") for the year ended 31 Marcl) 2024 whicl) comprise the group statement of financial activities, the group summary income and expenditure account, the group and parent charitable company balance sheets, the group cash flow statement and thc notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Repiiblic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the fjnancial statements: give a true and fair view of the state of the group and parent charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources for the year then ended; have been properly prepared in accordance with United Kingdom Gcnerally Accepted Accounting Practic¢. 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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, incliiding 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 siifficieiit and appropriate to provide a basis for our opinion. Conclusions relating to going Concern In auditing th¢ financial stat¢ments, 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 the group's and parent charitable company's ability to continue as a going conccrn for a period of at least twelve months from when the financial statemcnts 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. Other information The trustees are responsible for the other inforn]ation. The other inforniation coinprises thc infonnation included in the anniial report other than the financial statements and our auditor's report thereon. Our opiiiion on the financial statements does not cover the otlier information and, except to the extent otherwise cxplicitly stated in our report, we do not express any forn] of assurance conclusion thereon. 13
WOODLANDS HOSPICE CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF WOODLANDS HOSPICE CHARITABLE TRUST Ii) Connection with our aiidit of the financial statements. our responsibility is to read the other inforniation and, in doing so. consider whether the other inforn]ation is materially inconsistent with the fiiian¢ial stateinents or oiir knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material iiiconsistencies or apparent mat¢rial misstatements, we are reqiiired to dctcnnine Ivhetlier there is a material misstatement in the fInancial statemeiits or a material misstatemeiit of the otlier information. If. based on the work we have performed, we conclude that there is a material misstatement of this other infomiation, 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 oiir opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report (incorporating the strategic report and tlie directors, report) for tlie fii)ancial year for which the financial statements are prepared is consisteiit with the financial stat¢inents' and the triistees, report (incorporating the strategic report and the directors, report) have been prepared in accordance with applicable legal requlrements. Matters on which ive are required to report by exception lil the light of tlic knowledge and iinderstanding of tlie groiip and parent charitable company and its environineiit obtained in the coiirse of the aiidit, we have iiot identified material Inisstatements in the trustees. aiinual report (including the strategic Teport). We have nothing to report in respect of thc following matters in relation to which the Companies Act 2006 reqiiires lis to report to yoii if, in oiir opinion: adeqiiate accoiinting records have noi been kept by the parent charitable company, or rcturns adeqiiate for our audit have not been received from branches iiol visited by iis. tlie parent charitable company financial statements are not in agreement with the accounting records and returns. certain disclosiires of triistees, remuneration specified by law are not made. or we have not obtained all the inforniation and explanations necessary for the purposes of our audit. Responsibilities of the trustees As explained Inore fully in the Irustees. responsibilities statement. the trustees are responsible for tlie preparation of the fiiiancial statements and for being satisfied that tliey give a true and fair view. and for such internal control as tliey determine is necessary lo enable the preparation of fiiianeial statements that are free froin inaterial Inisstatement. whether diie to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group's and parent cliarilable coinpany's ability to continiie as a going concern. disclosing, as applicable, matters rclated to going concerj) and using the going concern basis of accounting unless the triistees either intend to liquidate the groiip or parent charitable company or to cease operation4 or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Oiir objectives are to obtain reasoiiable assiirance about whetlier the financial statements as a wliole are free froin material misstatement. whether due to fraud or error. and to issue an auditor's report that iiicludes oiir opinion. Reasonable assiirance is a Iiigh level of assurance but is not a guarantee that ali audit conducted in accordaiice ivitli ISAS (UK) ivill alivays detect a material inisstatement when it exists. Misstateinents can arise from fraud or error and arc considered material if, individually or iii the aggregate, tliey could reasoiiably be expected to iiiflueiice the econolnic decisions of users taken on the basis of tliese financial statcinents. 14
WOODLANDS HOSPICE CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AfqD TRUSTEES OF WOODLANDS HOSPICE CHAIUTABLE TRUST Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined abovc. to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularffities, including fraud, is detailed below. We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and group and determined that the most significant are those that relate to fundraising rcgulations. We also considered those laws and regulations that have a direct impact on the financial statements such as Charity SORP incliiding FRS 102 and Companies Act 2006. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations. included thc following: the engagement partner ensured the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. discussions with senior managcment. identified laws and regulations were communicated within the audit team who remained alert to instances of non-compliance throughout the audit. We evaliiated management's incentives and opportunities for fraudulent manipulation of the financial statements (including override of controls) and addressed the risk through testing ofjournal entries to identify iiniisual transactions and assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias. In response to the risk of irregularities and non-compliance with laws and regulations, we designed our audit procedures which included, but were not litnited to: discussions with management about any known or suspected instances of non-compliance with laws and regulations, and fraud; reviewing minutes of meetings of those charged with governance" testing of joiirnal entries. checking the cliarity is registered with a fundraising regulator. analytical review to identify iinusual transactions" reviewing for any transactions undertaken ivith related parties such as those charged with governance andlor trustees. checking expenses are bona fide transactions of the charity. reviewing complaints received. reviewing controls around cash donations. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, incliiding those leading to a material misstatement in the financial statements or non-compliance with regiilations. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraiid involves intentional concealment, forgery, collusion. omission or misrepresentation. A further description of our responsibilities forthc audit of the financial statements is located oli the Financial Reporting Council's website at: www.frc.org.uklauditorsrcsponsibilities. This description fonns part of our auditor's report. 15
WOODLANDS HOSPICE CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF WOODLANDS HOSPICE CHARITABLE TRUST Use of our report This report is made solely to the parent 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 iindertakcn so that we iniglit state to the charitable company's members those Inatters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent pern]itted by law. we do not accept or assuinc responsibility to anyone other than the charitable company's members as a body. for oiir audit WOTk, for this report, or for the opiiiions we have formed. ElaAne Frances McElroy (Senior Statutory Auditor) For aiid on behalf of Lonsdale and Marsh Date." 26 November 2024 Cliai'tere(l Accountants Statutoi? Auditor 509-510 Cottoii Excliange Bixteth Street Liverpool L3 9LQ 16
WOODLANDS HOSPICK CHARITABLE TRUST CONSOLIDATED STATEMEIYT OF FIP4ANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024 Total Funds 2024 Tolal Funds 2023 Note Unrestricted Restricted Funds Funds Unrestricted Restricted Funds Funds Income from: Donations and legacies Charitable activities Other trading activities Investment income Other income 674.056 83,114 437,707 27,048 132,875 5,674 72,530 679,730 155,644 437,707 27,048 132,875 749.514 205,822 415,556 23,626 41,520 12,782 25,601 762,296 231,423 415,556 23,626 41,520 Total income 1.354,800 78,204 1,433.004 1.436,038 38,383 1.474,421 Expenditure on: Raising funds Charitable activities 666,193 730.381 666,193 878,417 675.259 769,603 675,259 796,921 148,036 27,318 Total expenditure 1,396.574 148.036 1.544,610 1,444,862 27,318 1,472,180 Net gains/(losses) on investments 14 45,901 45.901 (64,541) (64,541) Net incomel(expenditure) 4,127 (69.832) (65,705) (73.365) 11,065 (62,300) Transfers betsveen funds Net movement in funds 12 4,127 (69.832) (65,705) (73.365) 11,065 (62,300) Reconciliation of funds: Fund balances at l April 2023 2,882,800 73,207 2.956,007 2,956,165 62,142 3,018,307 Fund balances at 31 March 2024 2,886,927 3,375 2,890.302 2,882,800 73.207 2.956,007 The Statement of Financial Activities includes all gains and losses in the year and therefore a Statement of Total Recognised Gains and L0&5es has not been prepared The notes on pages 22 - 40 fonn part of these consolidaled financial statements 17
WOODLANDS HOSPICE CHAIUTABLE TRUST CONSOLIDATED SUMMARY INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2024 2024 2023 Total income 1,433.004 1,474.421 Total expenditure from income funds 1.544,610 1.472,180 (111,606) 2,241 Net gaiiisl(losses) on investments 45,901 (64,541) Net expenditiire for the year The siiminary income and expenditure account is derived from the statement of financial activities on page 17 which together with the notes on pages 22 10 40 provides full inforjnation on the Inovelnents during tlie year on all fiiiids of the charity. 18
WOODLANDS HOSPICE CHARITABLE TRUST CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 Note 2024 2023 Flxed assets Tangible assets Investmeiits 13 14 1,559,208 911,947 2.471,155 1,687,678 847,820 2.535,498 Current assets Stock Debtors Cash at bank and in hand 15 16 4,755 91,184 492.038 587,977 3,045 116,218 575,345 694,608 Creditors: amounts falling due Ivithin one year 17 (168,830) (274,099) Net current assets 419,147 420,509 Total assets less current liabilities 2.890,302 2,956,007 Net assets 2 890,302 2,956 007 Funds Unrestricted Restricted 18 19 2.886,927 3,375 2,882,800 73.207 TotAI funds 2,890,302 2,956,007 These financial statements were approved by the board of trustecs and are signed on their behalf by: MR B BARTLE BA Ho Triistee (Chairnian) Dip Arch RIBA Date: 26 Novembe Company Registration No: O 721 The notes on pages 22 - 40 fonn part of these consolidated financial statements. 19
WOODLANDS HOSPICE CHARITABLE TRUST CHARITABLE COMPANY BALANCE SHEET AS AT 31 MARCH 2024 Iyote 2024 2023 Fixecl assets Tangible assets Investments 13 14 1.557,947 911,950 2,469,897 1,684,715 847,823 2,532,538 Current assets Stock Debtors Cash at bank and in hand 15 16 2,148 138.924 394,841 535.913 409 177,323 471,433 649,165 Creditors: amounts falling (l lie ivitliin one year 17 (134.627) (244,295) Net current assets 401.286 404.870 Total assets less current liabililies 2,871,183 2,937,408 Net assets 2,871.183 2,937,408 Funils Uiircstricted Restricted 18 19 2,867,808 3,375 2,864,201 73,207 Total funds 2,871.183 2,937.408 These financial statements were approved by the board of trustees and are signed on their belialf by: MR B BARTLE BA Ho , Triistee (Chairman) ip Arch RIBA Date: 26 November 20 Company Regislration No: 03 21 The notes on page 22-40 form part of these consolidaled financial statemenls. 20
WOODLANDS HOSPICE CHARITABLE TRUST CONSOLIDATED CASH FLOW STATEMENT YEAR ENDED 31 MARCH2024 2024 2023 CASH FLOWS FROM OPERATING AcfiviTIES Net expenditure for the year (as per the SOFA) Adjustinents for: {Gains)/losses on investments Fair value (gains)Ilosses on investments Depreciation of tangible fixed assets Bank interest receivable Dividend income from investments Increase/(decrease) in provisions (Increase)Idecreas¢ in stock (Incr¢ase)/decrcase in debtors Increasel(de¢rease) in creditors (65,705) (62,300) (9,753) (36.148) 13).024 (11,021) (27,048) (48,568) 113,109 132,645 (2,323) (23,626) (1.710) 39,370 116,420 (514) 82,904 32,371 Net casli (used iii)/provided by operllliiig nclivilies (97,411) 158.956 CASH FLOWS FROM INVESTING ACTIVITIES Purchases of tangible fixed assets Bank interest receivable Income from other fixed asset invcslments Purchase of investments Proceeds from sale of investments (2,554) 11,021 27,048 (110,295) 88,884 (7,287) 2,323 23,626 (77,901) 33,786 Nel casli (iiseil iii) invesling oclivilies 14,104 (25.453) (DECREASE)IINCREASE IN CASH 83.307 133,503 CASH AT THE BEGINNING OF THE YEAR S75,345 441.842 CASH AT THE END OF THE YEAR 492,038 575,345 21
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FKNANCIAL STATEMENTS li YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Company Information Woodlands Hospice Charitable Trust is a private company limited by guarantee, incorporated in England and Wales. Its wholly owned subsidiary Woodlands Hospice Limited is a private company limited by shares incorporated in England and Wales (Company no.. 03278425). Tlic registered office of both the parent and siibsidiary company is AUH Campus, Longmoor Lane, Liverpool, L9 7LA. Basis of Accounting The charity is a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with FRS 102 "Tlie Financial Reportiiig Standard applicable iii the UK and Repiiblic of Ireland" ("FRS 102") and the Charities SORP "Accounting and Reporting by Charities: Stateinent of Recoinmended Practice applicable to cliarities prepariiig their accoiints in accordance with the Financial Reporting Standard applicable ii) the UK aiid Republic of Ireland (FRS 102)" (cffective l January 2019). Tlie financial statements are prepared in sterling, Ivliich is the functional currency of tl)e coinpany. Moi)etary amoiints in thcsc financial statelnents are rounded to the nearest £. Tlie finaiicial statcments have been prepared iindcr the historlcal cost convention modified to incliide the revaluation of finaiicial investments to their market value. The principal accounting policies adopted are set out below. Gi'oup FinAncial Statements The consolidated financial statements incorporate the results of the charity and its wholly owned subsidiary Woodlands Hospice Limited on a line-by-line basis. A separate Statemeiit of Fiiiancial Activities, and income and expenditiire account. for the charity ilself are not presented because tlie charity has taken advantage of tlie exemptions conferred by s408 of ihe Companies Act 2006. A summary of the financial performance of the charity can be found in Note 24. Going Concern Th¢ principal risks and iincertainties have been commented on in the Trustees Report. At the tiine of approving the financial statements, the Triistecs liave a reasonable expectatioii that tlie chai'ity lias adeqiiate resoiirces to continue in operational existence for the foreseeable futiire. Thiis the Trustees continiie to adopt the going concern basis of accounting in ihe preparing the financial staleinents. Income Income from donations, grants and legacies are recognised when the charity lias entitlemei)t to the funds, when any perforniancc conditions attaclied to the income have been Inet and it is probable tliat tlie income will be received and the amount can be measured reliably. Grants which are to be iised for specific purposes. as laid down by the donor, are treated as restricted funds. Expenditure that meets the restricted criteria is cliarged to the fund. Deferred iiicome iiiclLides amounts received in advance of ivork to be undertaken. 22
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (continued) Income (continued) Grants. including those received from government agencies, are recognised at the fair value of the asset received or recetvable when there is reasonable assurance that the giant conditions will be met and the grants will be received. They are recognised using the performance model. A grant that specifies performance conditions is recognised in income when the perfonnance conditions are met. Where a grant does not specify perforniance condilions it is recognised in income when the Proceeds are received or receivable. Income from commercial trading operations preSellts shop sales of goods, excluding value added tax. and income from the sale of lottery tickets. Donated goods are not recognised as incoming resources on the Statement of Financial Activities on receipt of an item as it is impractical and not a cost effective use of resources. Instead the value of tlie donated goods is recognised as incotne when sold. In accordance with the SORP {FRS102). the general volunteer time is not recognised on thc Statement of Financial Activities. Refer to the trustee's annual report for more inforniation on their contribution. Interest Receivable Interest on funds held on deposit is included when receivable by the charity, and the amount can be measured reliably" this is normally iipon notification of the interest paid or payable by the bank. Resources Expended Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT that is not recoverable. The cost of functions which support more than one of the charity's activities have been allocated to thosc activities to give a full cost of an activity. Management salaries, payroll costs and legal fees have been allocated to activities based on the size of the expense incurred, as this is in line with time spent. Depreciation has been allocatcd to the activities for which the depreciated assets are used. Fund Accounting Funds held by the charity are either: Unrestricted general funds- these are funds which can be used in accordance with the charitable objects at the discretion of the trustees. Designated funds- these are funds set aside out of unrestricted general funds for specific purposes. Restricted fiinds - these are funds that can only be used for particular rcstricted purposes witliiii the objects of the charity. Restrictions arise when specified by the donor or when the funds are raised for a particular reslricted purpose. 23
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 I. ACCOUNTING POLICIES (continued) Tangible Fixed Assets and Depreciation Tangible fixcd assets are held at cosl or valuation less depreciation. The costs of minor additions, being those below £250. are not capitalised. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual valiie, over the useful economic life of that asset as folloivs: Compiiter equipment Fixturcs and fittings Fiirnitiire and equipinent Leasehold biiildings 330/0 Straight line 25 % straight line 250/0 Straight line Over thc remaining lease temi Stock Stock coinprises boiight in goods for resale and is stated at thc lower of cost or net realisable valiie. For donated goods see the accoiinting policy on incoine. Financial Instruments The coinpany has financial assets and financial liabilities of a kind that qualify as basic financial instriiineiits. Basic financial instriiments are initially recognised al the ainount receivable or payable. Invcstinents are lield at fair valiie. Investments Listed investments are Iield at fair value, which is the market valiie as at the balance sheet date with any realised or unrealised gains or losses bciiig recognised within the Stateinent of Financial Activities. Tlic iiivestmeiit in the subsidiary company, Woodlaiids Hospice Limited, is Iield at cost withiii the company balance shcet. Debtor Debtors are basic financial assets and are recognised at the settlement amount due. Prepayments are valiied at the amount prepaid. Cash at bank and in hand Cash at bank and in hand are basic financial assets and include cash in liand and deposits held with banks. It also includes cash held ivith the investment portfolio in order to Ineet short temi casli commilments siich as the purchase of shares as they fall due. Leases Rentals payable linder operating leases are charged against incolne on a slraight line basis over the period of tlie lease. 24
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (conlinued) Pension Costs Tlie compaiiy pays into Iliree separate sclieines= Oli l April ?021, 1l)e clinical aiid medical staff i.Cre TUPED to Liverpool University Hospital Foiiiidatioii Trust (LUHFT) ai)d tlie cliariti. no loiigjer contribiiles to tlie NHS Superc2niiiiatioii Scheiiie for certcliii foriiier NHS eiiiplo%'ees. The sclietne is iiiifiinded aiid the charitN' has no fiirtlier liabilitj. be.0nd tlie paTrmeiits made during the prior N'ear. The scheme is ilierefore accoiiiited for as a defined coiitribLltioii peiision SLlieine i¥"iih the costs eqiicll to ilie coiitributioiis made for the accoiiiiling period. Thc charity also Lonlribiites to a separate defined conlribution peiision sclieme for lion NHS employees and the contribiition is disLlosed in Nole I l. The assets of tlie sclienie are held in ali indepeiidenily adiiiinistered fliiid. The compan). also contribiites to the governmeiit's NEST pension schenie for fi.xed teriii Ivorkers, %N"liicli is also a detiiied coiilribiition scheme. The cost of the cmploy¢T pension conlribiitions to the NHS Superaiinuation and otlier scheme is charged to Ihe Staleinenl of Financial Activities. The pension costs have beeii allocated according io the c1ctivi. Ihe eiiiplo)iee undertakes. The costs of ihe aLtivilies are allocated betiveen restricted or unrestricted aLcording to hol the tiindiiig for tlie activity is received. Employee costs The costs of short-tern) eMpIo.ee beiietils are recognised as a liability and an expense. Where material, tlie cost of an%. unused holiday entitlemei)t is recognised in tlie period in ivhich tlie emploj'ee s serviLes are received. Wliere Tnaterial: temiiiiation benefjts are recognised immediately as an expeiise iwhen tlie company is demonstrabl), commilted to tenninate the emplo)ment of ali emplovee or to provide tennination benefits. Judgements and key sources of estimatAon uncertainty In the application of the charity s accounting policies. the trustees are required to niake jlidgeineiits, estimates and assiiinptioiis about the canying ainount of assets and liabilities that are not readily apparent froin other SOLirces. The estiiiiates aiid associated assuiiiptioiis are based on historical e.xperience and oilier factors that are considered to be relevant. Actual resulis may differ froiii these estiiiiates. The estimates and iinderlj'ing assiiinptions are revieived on an ongoing basis. Revisioiis lo acLoiinting eslimates are recogiiised in the period in ii.-hich the estimate is revised ii,here the revisioii affects only tliat period, or in the period of the revision and fulure periods ivhere ilie revision affects botli CLIITeiit aiid fiitiire periods.
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATF.D FINANCIAL STATEMENTS YEAR ENDED JI MARCH 2024 INCOlE FROM DONATIONS. LEGACIES AND GRANTS Unrestricted Funds Restricted funds Total Fun(Is 2024 Doiiatioiis, eveiits. and grants Legiacies i74,803 99.253 674,Oi6 5,674 580,477 99,?53 679,730 Unrestricted Funds Restricted funds Total Fun(Is 2023 Doiiatioiis, events, aiid grants Legacies 494.544 254,970 749,i14 12.782 i07,396 ?54,970 761,296 12,782 INCOME FROITrl CHARITABLE ACTIVITIFS Unrestricled Funds Restrietcd funds Funds 2024 Faiiiily siipport services EdiiLatioii/iraiiiiiig Hospice UK &?raiit Tesco grant Calering aiid hoiisekeeping services rechcirged 1,500 81,614 83,114 1.500 81,614 155,644 72,530 Unrestricted Funds Restricted Funds Funds 2023 Family siipport services Education/training Hospice UK grant Natioiial Lotter), grant Catering and housekeeping services recharged 25,601 25,601 3,760 12? 062 i 0.000 70,000 231,423 3,760 12?,062 10,000 70,000 20i.822 25,601
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 INCOME FROM OTHER TRADING ACTIVITIES 2024 2023 Lottery Charity shops 157,473 280,234 159,613 255,943 437,707 415,556 INVESTMENT llYCOME 2024 2023 Dividends received 27.048 23,626 OTHER INCOME 2024 2023 Catering services Siindry income Bank interest receivable 40,692 81.162 11,021 37,927 1,270 2,323 132,875 41,520 27
WOODLANDS HOSPICE CHARITABLE TRUST li NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 EXPENDITURE ON RAISING FUNDS Direct Cost of Activity Support Costs Total Costs AetlVAty 2024 Fundraising and publicity: Appeals costs Fundraising salaries Investinent management fee 64,929 177,987 6,866 249,782 23,886 44,732 88,815 222,719 6,866 318,400 68,618 Commercial trading operations: Lottery expenditiire Charity shops expenditiire 90,256 199,593 289,849 18.079 39,865 57,944 108,335 239,458 347,793 539.631 126,562 666,193 Direct Cost of Activity Support Costs Total Cosfs Activity 2023 Fun(Iraising and publicity: Appeals costs Fiindraising salaries liivestineiit inanagement fee 56,928 143,943 6,884 207,755 31,613 68,276 88,541 212,219 6,884 307,644 99,889 Commei'cial trading operations: Lottery expenditure Cliarity sliops expenditure 99,231 165,520 264,751 37.871 64,993 102,864 137,102 230,513 367,615 472.506 202,753 675,259 Expenditiire on raising funds was £666.193 (2023: £675.259) of which all ivas unrestricted. 28
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 EXPENDITURE ON CHARITABLE ACTIVITIES DRrect Cost of aclivity Support Costs Total Costs 2024 Charitable activity: In-patient bedded iinit Faini ly support services Catering services 319,117 23 5,460 70.133 175,204 61,339 17,164 494,321 296.799 87,297 624.710 253 707 878,417 Direct Cost of activity Support Costs Total Costs 2023 Charitable activity: In-patient bedded unit Family siipport services Catering services 254.183 187.629 37.176 211,792 88.588 17,553 465,975 276,217 54,729 478,988 317,933 796,921 Expenditure on charitable activities was £878,416 (2023: £796.921) of which £730,380 (2023: £769,603) was unrestricted. and £148.036 (2023: £27,318) was restricted. 29
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEèlR ENDED 31 MARCH 2024 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS General Support Governance Function Total Costs 2024 Depreciation Managemcnt salaries ALidit fees Payroll & other costs Insiirance & legal fees 131,024 208.514 131,024 208,514 9,250 5,360 26,121 9,250 5.360 26.121 371,019 380,269 General Support Governance Funclion Total Costs 2023 Depreciation Management salaries Aiidit fees Payroll & other costs Insiirance & legal fees 132,646 312.693 132,646 312,693 9,050 37,493 28,802 9,050 37,493 28,802 511,634 9,050 520,684 10. TAXATION Corporation Tax has not been chargeable to the group or company for the year lo 31 Sl March 2024. The trading subsidiary has tax losses carried forward of £7,944 (2023: £10,166). 30
WOODLANDS HOSPItCE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMEIYTS YEAR ENDED 31 MARCH 2024 11. EMPLOYEE COSTS The aggregate payroll cosls were: 2024 2023 Wages and salaries Social security costs Defined contribution scheme 843.510 71,515 55,517 970,542 784.540 66,011 50,056 900.607 Particulars of employe&s: 2024 Iso 2023 The average number of staff employed by the charity and the group during the financial year: Number of charitable service staff Number of administrative staff Number of fundraising staff 21 21 10 40 40 Numbers of employees who received remuneration in excess of £60,000 per annum are listed below: GROUP COMPANY 2024 2023 2024 2023 £60,000 - £69,999 £70,000 - £79,999 Neither the trustees nor any other person connected with them have received any remuneration during the year. The trustees were not reimbiirsed for expenses during the year (2023: £Nil). The key management personnel of the group comprise the trustees, cliief executive officer and scnior management. The total amoiint of employee benefits received by the key management personnel of the group were £143,498 (2023: £141,618).
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 12. MOVEMENT IN TOTAL FUNDS FOR THE YEAR This is stated after charging: 2024 2023 Depreciation 131.024 132,646 Fees payable to the charity's auditors for". the aiidit of the charity's anniial accounts tlie aiidit of th¢ charity's siibsidiary other accountiiig services 5.350 3.000 1.250 9,600 5,100 2,700 1,250 9.050 32
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 13. TANGIBLE FIXED ASSETS GROUP: Fixtures. Vittings & Computers Short Leasehold Buildings Furniture Motor Vehicles Equipment Total COST At l April 2023 Additions Disposals 347,897 3,500 3,305,699 468,520 4,125,616 2,554 2,554 (231,333) {301,458} (70,125) At 31 March 2024 277,772 3,iOO 3.305,699 239,741 3,826,712 DEPRECIATION At l April 2023 Charge for the year Eliminated on Disposals At 3 l March 2024 330,768 8,045 (70,125) 3,208 291 1,661,439 110,500 442,523 2,437,938 12,188 131,024 (231,333) (301,458) 268,688 3,499 1,771,939 223,378 2,267,504 NET BOOK VALUE At 31 March 2024 9,084 1,533,760 16,363 1,559,208 At 31 March 2023 17,129 292 1,644,260 25,997 1,687.678 COMPANY: Fixtures, Fittings & Computers Short Leasehold Buildings Furniture Equipment Total COST At l April 2023 Additions Disposals 333,316 3,284,586 468,520 2,554 (231,333) 4,086,422 2,554 (301,458) (70,125) At 31 March 2024 263,191 3,284,586 239,741 3787518 DEPRECIATION At l April 2023 Charge for tlie year Eliininated on Disposals At 31 March 2024 317,473 7,611 (70,125) 1,641,711 109.523 442,523 12,188 (231,333) 2,401,707 129,322 (301,458) 254.959 1,751,234 223,378 2,229,571 NET BOOK VALUE At 31 MaTch 2024 8,232 1,533,352 16,363 1,557,947 At 31 March 2023 15,843 1,642,875 25,997 1,684,715 33
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 14. INVESTMENTS GROUP: Listed investment portfolio: 2024 2023 Market value as at l April 2023 Additioiis at cost Disposal proceeds at market value 843,500 110,295 (88,884) 863,926 77,901 (33,786) Net gainl(loss) in market value Realis¢d Unrealised 9,753 36,148 48,568 113,109) 45,901 910,812 1.135 911,947 64,541 843,500 4,320 847,820 Market valiie as at 31 March 2024 Cash held in portfolio Tlie historical cost of the investments as at 31 March 2024 ivas £826,731 (2023.. £798,651). COMPANY: 2024 2023 Portfolio as above Iiivestineilt in siibsidiary company 911,947 847.820 911,950 847,823 Tli¢ cliarity has an investment of £3 in its ivholly oivned subsidiary Woodlands Hospice Limited (WHL), Ivhich is incorporated in England & Wales (Company No." 03278425). WHL operates cliarity shops and the l)ospice lottery to help support ils pareiit coii)pany. Diiriiig tlie year, WHL transferred £144,000 (2023: £134,000) under the lenns of a profjt sheddiiig agreemenl. The summary financial position and perfonnance of the subsidiary alone is: 2024 2023 Turnover E.xpenditure Bank interest received Profit after covenant Gross assets Liabilities Net assets 437,707 438,550 1,363 520 122.850 103,724 19,126 415,556 415,738 493 311 129,082 110,476 18,606 34
WOODLAIWS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 15. STOCK GROUP 2024 COMPIINY 2024 2023 2023 Goods bought for resale 4.755 3,045 2,148 409 16. DEBTORS GROUP 2024 COIVIPANY 2024 2023 2023 Trade debtors Prepayments Other debtors Amount owed by siibsidiary 6,279 30.843 54,062 5,279 23.226 40.894 69,525 32.340 83.878 24,940 71,714 80,669 91.184 116.218 138,924 177.323 17. CREDITORS: Amounts falling due within one year GROUP 2024 COMPANY 2024 2023 2023 Trade creditors Accriials Deferred income Taxation and social security Other creditors Amounts owed to subsidiary 34.309 57,549 17.183 29,331 30,458 39.344 70,171 19,127 22,402 123,055 25.638 49,197 36,447 62,388 29,331 30.458 22,402 123,055 168,830 274,099 134,627 244 295 Deferred income GROUP 2024 CorVANy 2024 2023 2023 Balance brought forward Release of deferred income 19.127 (1.944) 16.301 2,826 Balance carried forward 17.183 19.127 Deferred income relates to the lottery mcmbership siibscriptions within the trading company. 35
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMEIYTS YEAR ENDED 31 MARCH 2024 18. UNRESTRICTED FUNDS GROUP 2024 COMPANY 2024 Balance at l April 2023 liicoming resources Resourccs expended Gains on investinents 2,882,800 1,354,800 (1,396,574) 45.901 2,864,201 1,059,730 (1,102,024) 45,901 Balance at 31 March 2024 2,886,927 2,867,808 GROUP 2023 COMPANY 2023 Balance at l April 2022 Incomiiig resoiirces ResoLirces expeiided Losses on inveslineiits 2,956.165 1,436.038 (1,444,862) (64.541) 2,937,877 1,153,989 (1,163,124) (64,541) Balance at 31 March 2023 2 882,800 2 864,201 36
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 19. RESTRICTED FUNDS GROUP AND COMPANY: Balance asatl April 2023 Transfer (to) I from unreslricted fund BAlan¢e asat31 March 2024 Incoming Resources Resources Expended Family siipport services Equipment fuiid- donations Eqiiipment fund - grants The National Lottery Other restricted funds 72.530 5,674 (72,530) (11,625) {17.514) (10,000) (36.367) 9.326 17.514 10.000 36,367 3,375 73.207 78.204 (148.036) 3,375 Balance asatl April 2022 Transfer (to) I from unrestricted fund Balance asat31 March 2023 Incoming Resources Resourees Expended Family siipport services Equipment flind- donations Equipment fund - grants The National Lottery Other restricted funds 25,601 2,782 (25,601) {1.717) 8,261 17.514 9,326 17,514 10,000 36,367 i 0.000 36.367 62,142 38,383 (27,318) 73,207 37
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 19. RESTRICTED FUNDS (coiiliiiued) Family Support Services Grant received from Soiith Sefton CCG to contribute to the cost of family siipport scrvices for Soiith Sefton residents. Equipment Funds Tliis iiicludes grants from varioiis Charitable Triists and also donations from individuals for specific items of eqiiipment and fiirnitiire to be used either for thc benefit of patieiits or staff. Wliere fiinds are expeiided on capital iteins tlie flind is appropriately reduced by a transfer equivalent to ilie capital cost. Other restricted funds Thesc broLight forivard fuiids include monies froin Merseyside and Cliesliire Caiicer Netivork (MCCN), hosted on belialf of the Aiiitree Int¢grated CancerNetwork (ICN), monies from Multi Professioiial Ediication and Traiiiing levy (MPET) and inonies received by Soiitli Sefton CCG to develop and deliver various trainiiig, events and awareness. Monies are released as costs are incurred. 20. ANALYSIS OF NET ASSETS (behveen restricted and unrestricted funcls) Tangible rixed assets Other net Assets Investments Total 2024 Restricted Fiinds Unrestricled Fiinds 3,375 415.772 3.375 2.886,927 1.559,208 911,947 1.559,208 911,947 419.147 2.890,302 Tangible rixed assels Otlier net assets Investments Total 2023 Restricted Funds Unrestricted Funds 73,207 347,302 73,207 2,882,800 1.687.678 847,820 1.687,678 847,820 420,509 2,956,007 38
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR EIYDED 31 MARCH 2024 21. COMllllTMENTS UNDER OPERATING LEASES At 31, March 2024 the group and company had future minimum payments under non-cancellable operating leases as follows: GROUP: 2024 2023 In one year or less In more than one year, but not more than 5 years 53,537 114,982 168,519 46,935 122.875 COMPANY: 2024 2023 In one year or less In more tlian one year, but not more than 5 years 10,280 28.701 38,981 13,935 14,641 28,576 22. RELATED PARTY TRANSACTIONS There are no related party transactions in the current OT prior year that require disclosure. 23. GUARANTEE The charitable company is limited by guarantee and has no share capital. The members, liability is restricted to £ l in accordanc¢ with the Memorandum and Articlcs of Association. 39
WOODLANDS HOSPICE CHARITABLE TRUST NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 24. RESULTS OF THE COMPANY The consolidated statement of financial activities includes the results of the charity's wholly owned siibsidiary, Woodlands Hospice Lijnited. which operates tlie hospice lottery and charity sliops. The siimmary financial perforniance of the charity alone is: Total Funds 2024 Total Funds 2023 Income from: Donations and Icgacies Payments from subsidiaries Grants receivable Intcrest receivable Iiivestment income Other income 679,730 144,000 155,644 9,658 27,048 121,854 762,296 134,000 161,423 ,831 23,626 109,196 Total Income 1.137,934 1,192,372 Expenditure on: Raising fiinds Charitabl¢ activities 376.344 873,716 396,246 794,196 Total Expenditure 1,250 060 1.190 442 Net gains on investments 45.901 {64,541) Net movement in funds (66,225) (62,611) Reconciliation of funds: Total funds brought forward 2,937,408 3,000,019 Total funds carried forward 2.871,183 2,937,408 Representeil by: Restricted fiinds Unrestricted fiinds 3,375 2,867,808 73,207 2,864,201 2.871,183 2,937,408 40