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2024-03-31-accounts

Trustees. Annual Report and Accounts 2023-24 ]J Because no one should face death or 9r•ef alone

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Contents

Contents
Welcome from our Chief Executive and Chair of Trustees 6
Strategic report (including the Directors’ report) 10
Spotlight on… A society that supports everyone through dying and grief 12
Our achievements 16
Our future plans 28
Section 172 statement 32
Financial review 46
Risk matrix 54
Fundraising 57
Supporting sustainable development goals 60
Energy and carbon report 70
Structure, governance and management 74
Structure, governance and management 76
Legal and administrative details 82
Independent auditor’s report to the trustees and members of Sue Ryder 92
Financial statements 96
Accounts for the year ended 31 March 2024 98
Notes to the accounts 104
Thank you 134
Recognition of our wonderful supporters 136

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Welcome

Welcome from our Chief Executive and Chair of Trustees

Dying and grief are universal experiences, but too many people face them alone. We are a safe and reassuring hand you can reach for at life’s most difficult moments. Our staff and volunteers are united in our drive to deliver essential support to people during even the darkest of times. Over the past year, we have been proud to be there when it matters for thousands of people across the UK. You can read more about how we did this throughout the pages of this report.

We are determined that everyone should be supported through dying and grief. Concerningly though, we know many people are unable to access the help they want and need. Our research shows that demand for end-of-life care is increasing at a time when Sue Ryder and the rest of the hospice sector is contending with stark challenges, such as rising costs and the lack of sustainable funding.

Our bold new vision and strategy is a movement for change. Through it, we are aiming to transform the experience of everyone facing death or grief in the UK. We want to build a society where people can get the care and support they need and where their voices are heard.

To strengthen our focus on end-of-life and bereavement support and deliver societal change, we took the decision to divest our neurological services in England. You can find out more about our key goals and how we have started on the journey towards our vision from page 12.

Care and support at the end of life

Our specialist healthcare teams delivered their expert end-of-life care to people living with life-limiting illnesses throughout the year. They pride themselves on listening to what is important to each patient and providing personalised care, so patients can live the best life they possibly can.

An important focus has been developing our care services to meet people’s evolving needs. We expanded our service caring for people overnight in their homes in South Oxfordshire. Night-time can be concerning for families whose loved ones are dying, and this allows them to rest knowing they are being expertly cared for. To date, we have delivered 1,310 hours of night-time care to local families.

Another focus has been developing nurse-led and medically-light beds at two of our hospices, which help us care for a broader range of patients. These services deliver end-of-life care to people who do not need specialist or complex levels of support, and previously might have missed out on being referred to Sue Ryder. We hope these beds will also relieve pressure on hospitals and out in the community.

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Welcome

We have also been looking at how we can reach more people with our specialist end-of-life care, including those in under-served communities. We want to break down barriers of inequality so everyone can access expert, culturally appropriate care at end of life. Following our successful Health Inequalities pilot, which saw us build connections with different communities around Peterborough, we will be using what we have learned to inform our future approach across other areas of the UK.

and expert advice and resources. There was over a 100% increase in people using our self-help platform, Grief Guide, which provides advice and tools for managing grief, including space to journal. We achieved the milestone of 30,000 members on our Online Bereavement Community, which is a forum where people can join conversations, share feelings and support one another. Additionally, 95% of survey respondents said our text message support service, Grief Coach, contributed to their sense of being supported in their grief[2] .

Helping people manage their grief

The death of someone you love or someone you know can be devastating. A priority for us over the last year has been growing our vital bereavement services so we can help even more people living with grief, as well as their families and friends.

We have made a positive difference to people living in communities across England through our Sue Ryder Grief Kind Spaces. Our research told us two out of three people did not get the support they felt they needed after a bereavement[1] . The research, which looked into the availability and impact of bereavement support in the UK and was based on more than 8,500 people’s experiences, showed a need for more community-based forms of support. That is why we have been opening Sue Ryder Grief Kind Spaces in venues such as sports clubs, cafés and garden centres. There are over 20 at the time of writing, with more due to open in the coming months. Led by trained volunteers, Grief Kind Spaces are weekly drop-in sessions that provide people with the chance to talk to others who are experiencing grief. The feedback we have received is that the spaces have been a lifeline in terms of the loneliness and isolation that many people who are grieving have told us they are experiencing.

During the year we have also reached significantly more people through our Online Bereavement Support, which included free video counselling

We continued to build our national movement of kindness through our Grief Kind campaign. Since we launched our multi-channel campaign in 2021, we have reached millions of people across the UK. Grief Kind is giving people the confidence and tools to support their friends, families and colleagues who are grieving. Our recent activity has included a television advert broadcast on ITV1 and Channel 4, which encouraged record numbers of people to seek our bereavement support, as well as digital and radio adverts. We also made preparations for showcasing our Sue Ryder Grief Kind Garden at the prestigious RHS Chelsea Flower Show 2024. This special sensory garden, designed by Katherine Holland, aimed to raise awareness of grief and encourage people to open up and start conversations.

Giving people a voice

Using our voice to speak up for people who are dying or grieving has been high on our agenda. We have been working hard to highlight issues and influence positive change, so that more people can access the quality of care they need and deserve. Building partnerships and collaborating with the Government, key stakeholders and others in the healthcare sector has been central to this. We continued our important work with the NHS’s Integrated Care Systems (ICSs) on a local and national level, sharing our expertise and aiming to make end-of-life care as good as it can be.

1 Swords B, et al. ‘A better route through grief: Support for people facing grief across the UK’. Research commissioned by Sue Ryder and conducted by ClearView Research, 2022. https://media.sueryder.org/documents/A_better_route_through_grief_report.pdf

2 Levesque D et al. ‘Grief Coach: Feasibility and acceptability of a text message programme for bereavement support among grievers in the United Kingdom’. Study published April 2024. https://doi.org/10.1080/07481187.2024.2334080

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Welcome

Also, ahead of the general election, we joined forces with Hospice UK, Marie Curie, the National Bereavement Alliance and Together for Short Lives to create the first sector-wide palliative and end-of-life care manifesto. It highlights core areas we feel the next government must address to make sure people who are dying or grieving can receive the best possible support.

Other vital issues raised include the growing demand for care and the hospice sector’s need for a sustainable funding model. Our research shows the number of people in England expected to receive end-of-life care is projected to increase by up to 55% by 2030–31[3] . Another significant issue we raised during the year was the impact of the cost-of-living crisis on the communities we support.

Building foundations to achieve our goals

Our Fundraising and Retail teams have been working non-stop to grow income, so we can reach even more people with our support in the future. They inspired people to donate to our Cost of Dying appeal, which illustrated the increasing cost of providing our crucial care. Our Sue Ryder Lottery also reached an impressive 15 million ticket sales. In retail, we encouraged more people to reduce, reuse and recycle. Pre-loved clothes from our shops took centre stage at a sustainable fashion show in partnership with Lloyds Bank and the London College of Fashion, raising vital funds and awareness of our work.

Nearly 1,500 of our staff and volunteers have completed training to wear Rainbow Badges at work, promoting a message of LGBTQ+ inclusion. We completed the early stages of our Race Equity Programme to identify actions and initiatives that support Global Majority colleagues.

Inside this Annual Report

Over the pages of this report, we hope you enjoy reading more about our achievements and exciting plans for the future. The report includes our full financial review and accounts, and legal and administrative information. You can also catch up on the progress we have made towards becoming a more sustainable organisation and the actions we have taken to reduce our carbon emissions.

We would like to end by saying a heartfelt thank you to everyone who has supported us over the past year. We are incredibly grateful for all the wonderful ways people have shown their support, from going the extra mile in fundraising challenges and making kind donations, to giving unwanted items to our shops or buying our pre-loved and new goods. We are also very lucky to have thousands of dedicated volunteers who contributed their time and skills. However you supported us, thank you for the difference you made.

With our best wishes,

Dr Rima Makarem Heidi Travis Chair of Trustees Chief Executive

We have also been building on our Equity, Diversity and Inclusion (ED&I) work that focuses on an inclusive culture across our charity. We want Sue Ryder to be a safe and welcoming place where everyone feels comfortable bringing their full selves to work, and speaking out and challenging discrimination.

3 ‘Modelling demand and costs for palliative care services in England’, Sue Ryder and London Economics report, February 2021. https://media.sueryder.org/documents/Modelling_Demand_and_Costs_for_Palliative_Care_Services_in_England_1.pdf

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Welcome

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Strate9lC report 10

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Strategic report
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A society that supports everyone through dying and grief

Dying and grief are universal experiences, but too many of us face this alone. We are shining a spotlight on our bold new vision and strategy, which builds on our vital work supporting people in their most difficult moments.

For more than 70 years, we have been proud to be a source of strength and support for anyone living with a life-limiting illness or grief. However, we are facing challenges – demand for end-of-life care across the UK is increasing and many people who have been bereaved are not able to access support. Conversations about dying and grief are often avoided, which can leave people unprepared, isolated, and feeling unable to reach out for help.

We believe there is much more that can and should be done. That is why, in 2023, we launched our bold new vision and strategy, setting out our ambition to transform the experience of people facing death or grief in the UK. We want a society that supports everyone through dying and grief, and we are proud to be spearheading this movement for change.

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Strategic report

Focusing on end of life and bereavement support

While we have so much to be proud of, spreading our focus across three support areas – end-of-life, neurological and bereavement support – was becoming increasingly challenging.

Our long-term vision and strategy, ‘A better approach to dying and grief’, is our commitment to develop and expand the expert and compassionate services we are known for. We want to continue working with the government and local decision-makers to make sure the voices of people living with a life-limiting condition or grief are heard, and that access to the support they need is unlocked. We are also committed to reducing the stigma surrounding death and dying, so everyone can have open and honest conversations with their family members and friends.

Over the next few pages, you can find out more about our vision, our three key goals to ensure the strategy becomes a reality, and the values that underpin our work. You can also discover what we have achieved over the past year and what we are planning for the future.

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Read our vision and strategy at sueryder.org/vision or scan this QR code.

In 2022, we undertook an in-depth review to identify where we could scale up our work to support even more people. Following the review, our Board of Trustees and Executive Leadership Team made the decision to focus our strategic direction and growth on end-of-life and bereavement support, and to divest our neurological services.

Brainkind (formerly The Disabilities Trust) took over ownership of our neurological services in England on 15 November 2023. All roles were protected and our primary focus during the divestment process was to ensure a smooth transition for all affected service users, staff and volunteers.

Strategic report

Our vision

We want a society that supports everyone through dying and grief.

Our three goals

To ensure our strategy becomes a reality for people across the UK, we have set ourselves three key goals:

A society where the voices of people who are dying or grieving are heard, where everyone gets the care and support they need and services are integrated with the wider healthcare system. A society where everyone can have open and honest conversations with their friends and family to help them prepare for death and where people with a life-limiting diagnosis are supported to live well in the time they have left. Where trusted resources, information and bereavement services are accessible to everybody who needs them and where communities across the country provide compassion and support to those in need so that nobody grieves alone.

In 2023–24, we started working on the foundations for our new strategy and intend to expand our impact in these areas moving forward. You can read more about our achievements on page 16 and our future plans on page 28.

Strategic report

Our values

Our values – supportive, connected and impactful – underpin and inform how we approach our work and will help us to deliver our vision and strategy.

Supportive

Connected

Impactful

Equity, diversity and inclusion.

We are inclusive, value diversity and actively work to reach different communities with our services, information and support, and ensure they are accessible.

Our people.

We want Sue Ryder to be a great place to work and volunteer, where everyone feels they belong. We are committed to creating an inclusive culture in which everyone can thrive, develop and feel valued.

Working collaboratively.

We work in partnership, learn from others and share our expertise to enable everybody to get the best possible care and support.

Our supporters and volunteers. Our work would not be possible without the generosity of our supporters and our volunteers. We will inspire more people to fundraise, donate, volunteer, campaign and advocate for us.

Putting people who are grieving or living with a life-limiting condition at the heart of our work. We listen and learn from people who have been affected by dying and grief. We use their experiences to help us design new services, information and resources and to inform the issues on which we raise awareness and campaign for change.

A sustainable organisation. We act responsibly and are committed to becoming a truly ethical and sustainable organisation financially, operationally and environmentally.

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Strategic report

Our achievements

In 2023–24, we started on the journey towards our new vision of a society that supports everyone through dying and grief. We began laying the foundations of our long-term strategy and made solid progress in areas such as expanding our vital grief support and developing our care services to meet patients’ evolving needs. You can read more about these and our other achievements over the coming pages.

However, we did face challenges during the year that we worked hard to respond to. These included the ongoing cost-of-living crisis, the rising palliative funding deficit, and the need for sustainable funding for Sue Ryder and the wider hospice sector.

We are proud of our accomplishments, but our journey does not end here. You can read about how we want to build on our achievements on page 27 and discover how we plan to expand our impact in the future on page 28.

Better grief support for everyone

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Strategic report

Discover our Sue Ryder Online Bereavement Support at sueryder.org/support

4 Levesque D et al. ‘Grief Coach: Feasibility and acceptability of a text message programme for bereavement support among grievers in the United Kingdom’. Study published April 2024. https://doi.org/10.1080/07481187.2024.2334080

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surgeries. In addition, we launched a second series of our Grief Kind podcast. This featured celebrity guests Dr Amir Khan, Lottie Tomlinson and Richard Arnold talking about their own experiences of grief and what helped them. During the year, our Grief Kind podcast hit the milestone of being listened to more than 64,000 times.

Q SCAN ME Find out more about Grief Kind at sueryder.org/griefkind and ~~} ret LA Oj~~ scan this QR code to watch our TV advert. ~~eeePie~~

5 Survey on grief conducted by Censuswide and commissioned by Sue Ryder, July 2021. Find out more about our Grief Kind campaign at sueryder.org

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Strategic report

Helping people who are dying to live well

• Our specialist healthcare teams provided expert care and support to more people approaching the end of their lives. In line with the pledge in our vision and strategy, developing our care services to meet our patients’ evolving needs, so they can live as well as possible in the time they have left, was an important focus this year. Achievements included expanding our service caring for patients in their homes in South Oxfordshire. We started to offer night-time care in 2022, thanks to the kind support of The Anthony (Tony) Lane Foundation. It means our Hospice at Home team can now provide care through the night, which can be a worrying time for families whose loved ones are dying. This care allows them to rest, safe in the knowledge their loved one is being expertly cared for. To date, we have delivered 1,310 hours of night-time care to local families. Following a third charitable donation to the service from the Foundation in 2024, we have been able to increase the number of hours we can offer, ensuring that more people in need of support can access care how and when they choose.

• We also developed our nurse-led beds at our hospice near Keighley, and medically-light beds at our hospice in Peterborough, so we can care for a wider range of patients. These services deliver end-of-life care to people who do not need specialist or complex levels of support. Previously, people may not have met the hospices’ specialist referral criteria, or missed out due to referrals being prioritised on levels of need. These new services mean we can offer more people a choice about where they are cared for, in line with the pledges set out in our vision and strategy. This will also help to relieve pressure on hospitals and out in the community. Patient feedback on the medically-light beds service at our hospice in Peterborough, which is being piloted for a year due to funding from Cambridgeshire and Peterborough Integrated Care Board (ICB), has been positive. When asked what was working well, patients’ comments included ‘care and attention was very good’ and ‘pain relief and comfort’.

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Strategic report

Our achievements (continued)

Service users shared their ideas for our Sue Ryder Grief Kind Garden (artist’s impression pictured).

• Gathering feedback from our service users and involving them in our activities has once again been a priority. Service User Participation Groups across our services have continued to evolve and flourish and meet regularly to share their ideas and perspectives. At our hospice near Keighley, the members of the service user group carried out the 15 Steps Challenge. The challenge provides valuable insights by exploring healthcare settings through the eyes of patients and relatives. Staff at the hospice have been able to make improvements as a direct result, including improving the reception area. Additionally, service users at our hospice near Bedford shared their ideas for a Sue Ryder Grief Kind Garden, which was presented at RHS Chelsea Flower Show 2024. This special sensory garden will be relocated to the hospice after the show, and garden designer Katherine Holland wanted to ensure it was created with the needs of patients and their families in mind.

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Strategic report

• In line with our vision and strategy, we have also provided support to healthcare professionals externally around death and dying, so that more people can get the best possible care and support. We provided end-of-life and bereavement training to external healthcare professionals, including the NHS. This included our Education team developing a five-day programme which teaches the fundamentals of palliative and end-of-life care. They have started delivering this training to Berkshire Healthcare NHS Foundation Trust staff in partnership with Thames Hospice. Our team also delivered a webinar to NHS professionals on death, dying and bereavement, to help build confidence in dealing with patients at end-of-life on general medical wards.

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Strategic report

Our achievements (continued)

Speaking up for people who are dying or grieving

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Strategic report

6 ‘Modelling demand and costs for palliative care services in England’, Sue Ryder and London Economics report, February 2021. https://media.sueryder.org/documents/Modelling_Demand_ and_Costs_for_Palliative_Care_Services_in_England_1.pdf

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Underpinning our vision is our important work to build Sue Ryder’s platform for growth. Here, we outline our key achievements in this area.

Building our charity’s platform for growth

outstanding support from Julia and Hans Rausing during the year, helping us to continue being there when it matters during a time of steeply rising costs. In 2023, our Sue Ryder Lottery, which gives people the chance to win prizes while supporting our care, reached a milestone of 15 million ticket sales since starting in 2015. We also progressed our Retail 2025 vision, using more of what is generously donated to us. We want to inspire people to reduce, reuse and recycle to help make sure the planet – and everyone on it – can be cared for. A highlight saw us join forces with Lloyds Bank and the London College of Fashion for a sustainable fashion show, featuring pre-loved clothes from our Sue Ryder shops (pictured right). It raised vital funds, as well as awareness of how shopping for pre-loved items at Sue Ryder can help to reduce landfill and avoid the need for new items to be manufactured.

Read about how we are working towards becoming a more sustainable organisation on page 60.

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Strategic report

Our achievements (continued)

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Browse our website at sueryder.org

Strategic report

Building on our achievements

We are proud of everything we achieved in 2023–24, while facing challenges such as the need for a sustainable funding solution for the hospice sector in order to be able to support more people as the demand for end-of-life care increases. However, our work does not stop there. There is more we want to accomplish, so we can make sure everyone approaching the end of their life or living with grief can access the support they need.

We want to build on our achievements in areas such as:

Turn over the page to find out more about our future plans.

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Strategic report

Strategic report

Better grief support for everyone

We will:

Helping people who are dying to live well

We will:

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Strategic report

Our future plans (continued)

Speaking up for people who are dying or grieving

We will:

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Underpinning our vision is our important work to build Sue Ryder’s platform for growth. Here, we outline our future plans in this area.

Building our charity’s platform for growth

We will:

Our new vision outlines our intention to build a society that supports everyone through dying and grief, and we will use our expertise to shape our plans. We took the decision to divest our neurological services in England to strengthen our focus on delivering this societal change. This decision and the future plans and developments outlined in this report are the first stage on this journey. To deliver our strategy, we must remain agile and responsive, while putting the needs of people at the end of their lives and those living with grief at the heart of our work.

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Strategic report

Section 172 statement

Our trustees’ duties to promote the success of the charity

The likely consequences of any decision in the long-term

Under section 172 of the Companies Act 2006, Sue Ryder’s trustees have a duty to act in the way they consider, in good faith, would be most likely to promote the success of the charity to achieve its charitable purposes.

In doing so, they are required to have regard to various factors, including:

In 2023 we launched our new vision and strategy ‘A better approach to dying and grief’ (you can read more about it on page 12). This strategy will be the reference point for all decision making.

The Board considers the following to be the key decisions and considerations it has made during the year to March 2024: to retain and recruit staff in the current economic climate and to continue to grow and develop our services, as well as reach under-served communities.

In making decisions, we listen to and engage with a wide range of stakeholders to ensure our decisions are sustainable in the long-term future of the charity. We want to ensure we are providing the services that the people who use or benefit from our services, and our commissioners, want to see provided.

Throughout this report, we have summarised our governance and decision-making framework, our values and behaviours, and our engagement with our service users, employees, volunteers, commissioners and other stakeholders during the year. This demonstrates how these factors are embedded in decision-making at board and executive level, and throughout Sue Ryder.

Key to the long-term future of the charity is retaining and attracting the employees and volunteers we need to be able to deliver on our strategic aims, and this underpins many of our decisions. We make sure the needs of our stakeholders are taken into account and aim to balance the needs of different groups, so noone is disproportionately impacted. At the same time, we need to prioritise having a sustainable future and delivering on our charitable objectives.

We are proud of everything we have achieved over the past year, as outlined in the tables on the following pages. Moving forward, we will continue to build on and develop how we listen to and engage with our stakeholders.

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Strategic report

Significant Stakeholders Board decision affected

The Board • Employees approved our • Service users new Strategic • Trustees Programme • Executive and continued Leadership investment in Team (ELT) areas such as income growth. • Existing This underpins our and future vision of a society supporters. that supports everyone through dying and grief, and will help us to achieve our goals

How we engaged Action and impact

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Strategic report

Section 172 statement (continued)

Significant Stakeholders Board decision affected

The Board continued to support and review progress of our Equity, Diversity and Inclusion (ED&I) journey

How we engaged Action and impact

practices and
identify areas for
improvement.		 •Updated and created policies
promoting inclusion and diversity
within the workplace, such as our
• Shared internal Menopause Policy.
communications •Introduced new training modules
to keep all staf and masterclasses focused on
informed about specifc ED&I topics, to improve
ED&I policies and understanding.
developments. •Developed strategies to attract and
• Organised retain a diverse workforce.
collaborative •Impact includes:
workshops – Creating an inclusive and
involving welcoming environment for staf
employees and volunteers.
at all levels to – Enhancing Sue Ryder’s reputation
foster dialogue as an inclusive employer, attracting
and develop talent from diverse backgrounds.
actionable ED&I – Contributing to the broader societal
strategies. goal of inclusivity and equity aiming
to position our organisation as a
leader in ED&I practices within our
sector.

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Strategic report

Significant Stakeholders Board decision affected How we engaged

The Board • People continued experiencing to support grief and bereavement bereavement impact growth, • enhancing and support staff expanding our • Healthcare bereavement providers services, including • Employees the introduction • Volunteers. of new models such as Sue Ryder Grief Kind Spaces

• Continued to run our multichannel Grief Kind campaign, including digital, radio and TV advertising, with the aim of giving people the confidence and tools to support those who are grieving and increasing awareness of our bereavement support.

Action and impact

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Strategic report

Section 172 statement (continued)

Significant Board decision

Stakeholders affected

Appointment of • Employees digital trustee for • Executive oversight of digital Leadership transformation Team (ELT). programme. The decision underscores the Board’s commitment to enhancing its digital governance and capabilities

Approved the pay * award strategy, *• Healthcare staff focusing on across various adjustments roles. to the National Living Wage, and healthcare pay progression and strategies for upcoming periods

Action and impact

How we engaged

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Strategic report 37

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Section 172 statement (continued)

The table below sets out in more detail how we have engaged with our key stakeholders and the impact of that engagement.

Stakeholder
group Key considerations
People who use •To reach people who are not currently aware of our services and to overcome barriers
or beneft from to the use of our services to reduce health inequalities.
our services: •To adapt our services to refect the external environment and meet people’s
Current evolving needs.
service users, •To improve the lives of people who live in our neurological care centres.
potential future •To provide a high quality of care and support.
benefciaries •To provide our care and support to more people.
including those
requiring palliative
and end-of-life
care and those
with complex
neurological
conditions
People who use •To provide the support needed for those experiencing bereavement.
or beneft from •To raise awareness of our services.
our services: •To increase the numbers of people who can access our services.
Anyone •To raise funds towards our bereavement services.
experiencing
bereavement or
supporting those
who are grieving

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Strategic report

How we engage

Key highlights, showing impact of our Further engagement information

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Strategic report

Section 172 statement (continued)

Stakeholder

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Strategic report

How we engage

Key highlights, showing impact of our Further engagement information

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Strategic report

Section 172 statement (continued)

Stakeholder

group Key considerations

Commissioners

(Integrated Care Boards (ICBs) and Integrated Care Partnerships (ICPs) and local authorities)

Key opinion ** To raise the profile and awareness of Sue Ryder. leaders and • To obtain an increase in funding contribution for palliative care services. influencers •** To campaign and highlight issues that impact the people we support, for example (policymakers and our campaign for statutory bereavement leave. parliamentarians)

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Strategic report

How we engage

Key highlights, showing impact of our Further engagement information

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Section 172 statement (continued)

Stakeholder
group Key considerations
Suppliers •To work in partnership with suppliers, and to build strategic long-term relationships with
key suppliers based on honesty and accountability, and with similar principles, to obtain
best value.
•To reduce our impact on the environment.
•To pay suppliers in accordance with terms agreed.
•To comply with the Modern Slavery Act 2015.
•To review supplier ED&I and sustainability policies as part of the procurement tender
process to ensure that they are aligned with Sue Ryder.
Community and •To consider our reputation.
environment •To uphold our values and behaviours.
•To raise awareness of Sue Ryder.
•To work towards being a more sustainable organisation.
Customers •To uphold our values and behaviours.
•To raise awareness of our cause.
•To encourage customers to support Sue Ryder in other ways.
•To inspire potential supporters.
•To encourage donations of stock.
•To provide the best possible customer service.
•To encourage people to buy our pre-loved and new goods.

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Strategic report

How we engage

Key highlights, showing impact of our Further engagement information

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Strategic report

Financial review

Sue Ryder reported a consolidated net deficit of £7.5m in 2023–24 compared to a net deficit of £11.0m in the previous year. It was a transitionary year financially, as we divested of three of our four neurological services and started the journey towards our new vision of a society that supports everyone through dying and grief. We continued to invest in growing our grief support services and developing our care services to increase beneficiary reach and meet patient needs. Investment was made to further increase the clarity of our brand, improve our IT infrastructure and systems, and continue to build a more inclusive culture across the organisation.

Results for 2023–24

There were significant challenges in the year, which included the ongoing cost-of-living crisis, the rising palliative funding deficit, and the need for sustainable funding for Sue Ryder and the wider hospice sector. Our dedicated supporters helped us raise vital funds, and by contributing items to sell in our shops, taking part in a variety of events and making donations, together we managed to grow our fundraising and retail income.

While inflation has reduced, costs remain high, and we monitor these closely as the cost-of-living crisis continues. Quarterly forecasting is performed on a rolling basis to ensure that we can navigate any financial uncertainty in a timely way, take mitigating action and flex our strategy where appropriate. Cashflow is reviewed closely on an ongoing basis.

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Other
6.0%
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NHS and local authorities
Net retail income – End-of-life care
14.0% 22.3%
Fundraising
31.5% NHS and local authorities –
Neurological care
and rehabilitation
26.2%
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Income Financial Year 2023–24

We generated £62.3m to keep our services running for the support of our beneficiaries. Our supporters in fundraising and retail combined generated £28.3m of our income (45.5%) by donating, shopping, and completing fundraising activities for Sue Ryder.

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Support
16.3% Expenditure Financial Year
End-of-life care
2023–24
and Grief Kind
Spaces services
Fundraising 40.4% We spent a total of £70.42m running
7.6% the charity. 76.2% of that cost
International was spent on delivering services
0.1% to our beneficiaries. This included
Bereavement
4.0% palliative and end-of-life care in our
hospices and the community; care in
neurological centres; bereavement
counselling and support; and our
Neurological care
31.6% Sue Ryder Grief Kind Spaces services.
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We spent a total of £70.42m running the charity. 76.2% of that cost was spent on delivering services to our beneficiaries. This included palliative and end-of-life care in our hospices and the community; care in neurological centres; bereavement counselling and support; and our Sue Ryder Grief Kind Spaces services.

Our consolidated results include the income (and costs) of the charitable and trading subsidiaries. While retail provides income to the charity, the cost of operating retail is considerable. When the income is considered in gross terms, it can distort our income and expenditure analysis. It is the net contribution of retail (after all operating expenses and allocated support costs) which the charity has available to spend on charitable activities.

The table below shows income and expenditure before impairment of fixed assets and gains on investments. The charity’s retail contribution is shown net, rather than gross, and was £8.7m (2022–23: £5.0m) in the year.

Summary and net calculations of the Statement of Financial Activities

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2023–24 2022–23
Income Expenditure Net Net
£000s £000s £000s £000s
Charitable activities
Palliative, end-of-life care and Grief Kind Spaces 13,898 (28,551) (14,653) (13,140)
Neurological care 16,327 (22,230) (5,903) (5,176)
Bereavement support - (2,791) (2,791) (2,407)
Homecare Scotland - (2) (2) (84)
International - (80) (80) (80)
Raising funds
Fundraising 19,600 (5,317) 14,283 12,449
Retail contribution surplus 8,709 - 8,709 4,993
Other
Other 3,738 - 3,738 2,111
Support functions - (11,446) (11,446) (9,359)
CJRS and RHLGF Covid-19 support - - - (294)
Net (expenditure) 62,272 (70,417) (8,145) (10,987)
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Financial review (continued)

Income

Our principal sources of income are statutory funding from the NHS and local authorities for our palliative and neurological centres; donations from the public, trusts, foundations and corporate partners; and retail activities. Our bereavement support services, which we have continued to develop, are currently unfunded. The cost of running the bereavement and Grief Kind Spaces services is met entirely by the charity.

Statutory income

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£20.0m
20.3
£17.5m
16.3
£15.0m
13.9
13.4
£12.5m
£10.0m
£7.5m
£5.0m
£2.5m
£0.0m
End-of-life care Neurological
2023–24 2022–23
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Statutory income reduced by £3.5m in the year to £30.2m (2022–23: £33.7m). Palliative and end-of-life care income increased by £0.5m to £13.9m (2022–23: £13.4m) and neurological care income reduced by £3.93m to £16.3m (2022–23: £20.3m).

Following an in-depth review in 2022 the decision was made to focus our strategic direction and growth on end-of-life care and bereavement support, and to divest our neurological services. On 15 November 2023 the ownership of the three neurological services based in England were transferred to Brainkind (formerly The Disabilities Trust). As a result, income from neurological services has reduced to £16.3m (2022–23: £20.3m). During the year, neurological fee uplifts were achieved across services by negotiating increases commensurate with the increasing complexity of beneficiary care needs and rising costs.

As the demand for palliative and end-of-life care grows, funding in the hospice sector is challenging. The core grants we received for end-of-life care in our hospices increased on average 2.8% from previous years despite a much higher percentage increase in costs, which include pay and national living wage. During the year we introduced our nurse-led and medically-light beds at two of our hospices, which broadens the referral criteria and enables us to care for a wider range of beneficiaries. Additional income of £0.5m was received in the year for the nurse-led and medically-light beds. We received non-recurring income of £0.04m during the year (2022–23: £0.5m) from additional funding released by Integrated Care Boards (ICBs) at the end of the financial year, as well as a small amount of funding for student placements and education grants. The proportion of statutory income for end-of-life care that relates to Hospice at Home is 17% (2022–23: 21%). The balance is care delivered in our hospices.

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Fundraising

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£9.0m
8.9
8.1
£7.5m 7.6
£6.0m 6.4
£4.5m
£3.0m 3.1
2.9
£1.5m
£0.0m
Lottery/Other Donations Legacies
2023–24 2022–23
----- End of picture text -----

Total fundraising income increased by £2.3m to £19.6m in the year. Our Fundraising teams worked hard to grow income in the face of the ongoing cost-of-living crisis, and our supporters did not fail us. General donations at £8.9m were up £0.8m on 2022–23 (£8.1m).

During the year, we launched our ‘Cost of Dying’ appeal, which aimed to address the growing deficit in palliative and end-of-life care. In collaboration with retail colleagues, Lloyds Bank and the London College of Fashion, we were able to raise valuable funds and awareness at a sustainable fashion show. A wide range of staff-led and national events took place across the year, which included the London Marathon, Starlight Hikes, Ride for Ryder, and Christmas tree recycling.

Our Sue Ryder Lottery income increased to £2.9m (2022–23: £2.8m). We reached the milestone of 15 million ticket sales, representing the number of tickets sold since the Sue Ryder Lottery was launched in 2015. During the year we recruited over 9,000 Friends of Sue Ryder and sold Lottery tickets to over 9,000 supporters.

Legacies by nature are unpredictable and increased by 20% to £7.7m during the year. This follows a particularly challenging prior year (2022–23: £6.4m).

Retail

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£63.0m
62.5
58.9
£56.0m
£49.0m
45.7
43.4
£42.0m
£35.0m
£28.0m
£21.0m
£14.0m
10.4
£7.0m 8.3 8.7
5.0
£0.0m
Income Direct Indirect Net
costs costs income
2023–24 2022–23
----- End of picture text -----

Our Retail teams have had another very successful year of trading, and sales of donated goods in particular followed a consistent trend and performed favourably against budget. Retail has delivered the best sales performance on record at Sue Ryder. Income was up £3.6m at £62.5m (2022–23: £58.9m), generating a surplus contribution of £8.7m (2022–23: £5m) in the year, after direct and indirect costs. Direct costs represent the costs directly attributable to raising funds in retail. Indirect costs represent the allocation of support function costs to retail.

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Financial review (continued)

----- Start of picture text -----
£30.0
28.6 2023–24 2022–23
26.6
£25.0 25.7
22.2
£20.0
£15.0
11.4
£10.0
9.3
£5.0
5.3
5.0
2.8
2.4 0.0 0.1 0.1 0.1
£0.0
End-of-life care Neurological care Bereavement Homecare International Fundraising Support
----- End of picture text -----

Expenditure

Total expenditure (excluding retail) increased by 1.9% to £70.4m in the year (2022–23: £69.2m). A key component of the cost increase (£2.6m) relates to the neurological services, three of which were divested in November 2023. As a result of divestment, the cost of running neurological has decreased by £7.3m. This is partially offset by the cost of impairment of £3.8m against the remaining neurological service which Sue Ryder plans to divest in the near future. There is an increase in expenditure of £4.7m across all other parts of the charity.

Wages and other staff-related costs remain the largest cost to the charity. The total staff costs at £74.0m were £0.2m up on the prior year (2022–23: £73.8m). However, the prior year included a full twelve months of neurological pay costs at four services and three were divested in the year. Removing the costs relating to these services shows that underlying pay costs are up £3.9m. This increase includes annual uplifts in rates of pay required to keep pace with market rates and statutory increases in the National Living Wage, as well as contributions to workplace pensions.

Palliative and end-of-life pay costs were the largest increase in expenditure and were up £1.4m on the previous year at £26.4m. Due to increase in demand for our palliative and end-of-life services, we completed a number of recruitment drives to fill vacancies in services. We have invested in our pay structures and seen increased levels of retention across our palliative and end-of-life services. The cost of running our Grief Kind Spaces services is reflected in ‘end-of-life care’ in 2023–24 and the prior year. Moving forward this will be disclosed separately.

Retail pay costs were the second highest increase in expenditure and were up £1.1m on the prior year at £20.8m. National Living Wage had a significant impact due to the 9.7% increase in the year.

The high cost of consumables used in our healthcare services have contributed to increased spend, and food, medical supplies and utilities have increased by approximately 25% on the prior year.

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A priority of our vision is to grow our bereavement services, and as a result costs increased by £0.4m to £2.8m. During the year we increased beneficiary reach and continued to open Sue Ryder Grief Kind Spaces in venues across England. We also continued to offer support through our online self-help platform Grief Guide, Grief Coach text message support service, our Online Bereavement Community and Online Bereavement Counselling Service. All bereavement support services are currently entirely funded by the charity.

The increase in fundraising expenditure is largely due to an increase in the cost of marketing our fundraising events and activities, to try and reach new audiences and increase the number of supporters.

Central support costs increased by £4.2m. This included the costs of marketing our services and continued investment in raising brand understanding with a much wider audience, so that we can support more people and raise more income over the longer term. Our influencing and advocacy costs are included within central support costs and amount to £339k in the year (2022–23: £294k). One-off costs of £1.4m were incurred relating to the divestment of the English neurological services.

Balance sheet

At 31 March 2024, total group funds (which is comprised of fixed and current assets including property, less liabilities) stood at £52.3m (2022–23: £59.8m): £0.4m (2022–23: £0.6m) was restricted for specific purposes and £1.5m (2022–23: £3.3.m) was property revaluation reserves, representing the excess over the historic cost of the valuation applied as deemed cost on transition to FRS102. The trustees use liquid free reserves as the measure, as they more accurately represent the going concern of the charity. While inflation has reduced, it remains above the Bank of England target of 2% and interest rates remain high. Management continues to seek the best financial return on liquid resources from a medium level of risk, in line with the charity’s policy.

Reserves policy

Sue Ryder holds reserves in order to maintain charitable services for beneficiaries in the event of a temporary downturn in income. The charity depends on a number of diverse but fluctuating income streams in order to fund its services. Trustees review the target level of liquid free reserves annually (reviewed September 2023) with the aim of assessing the risks and going concern, while balancing the strategic and financial planning requirements. In assessing the appropriate level of reserves that the charity should maintain, the trustees perform a risk-based review of our income and expenditure. Considering the diverse nature of our income streams, the levels of asset backing, current and future investment and borrowing projections, the growing demand for the services which we provide, and the general and specific market conditions in which we operate; they are of the opinion that an appropriate level of liquid free reserves (held as cash and investments) would be in the range of £30–£40m.

At year end, our liquid free reserves were £32.2m, comprising £18.2m cash at bank and £14.0m of portfolio investments (2021–22: £36.1m). SORP free reserves in the year were £31.8m (2022–23: £28.4m). A key reason for holding reserves is to ensure sufficient cover to continue to be able to provide services in the event of an unexpected or temporary downturn in income, while balancing availability of reserves for budgeted strategic and capital spend. The trustees reviewed the target reserves level again in May 2024 and based on these factors and the analysis performed, have adjusted the policy for the forthcoming year to a target reserve banding of between £15–£25m.

Management continues to seek the best financial return on liquid resources from a medium level of risk.

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Financial review (continued)

Investments

The Sue Ryder investment portfolio is managed on our behalf by Churches, Charities and Local Authorities (CCLA) Investment Management Limited and held in the COIF (Charities Official Investment Fund) Charities Investment Fund. Investments are distributed in a range of asset classes, the details of which are included below. The Board of Trustees sets the overall performance and ethical parameters under which our investment managers operate.

The primary objectives of our investment portfolio are to:

The total return on our portfolio over the financial year was a positive return of 12.4% (2022–23: 12%).

The distribution of investments as at 31 March 2024 was:

The trustees have declared that the charity will not directly invest in armaments, tobacco or pornography and that the investments should be aligned to the charity’s values.

Going concern

In 2023–24 we started our journey towards our new vision and began to lay the foundations of our longterm strategy. Alongside the annual budget approved by the Board of Trustees, the charity undertakes quarterly forecasting and closely monitors this and cashflow, taking mitigating actions where appropriate to mitigate any changes within the economic or operating environment that would adversely impact our cashflow projections.

We continue to navigate the ongoing challenges of the cost-of-living crisis and the significant deficit in hospice funding while balancing rising costs and fair pay and reward structures for our colleagues. We have prepared a three-year budget plan for 2024–25 to 2026–27 and will forecast as we move through the year to update our anticipated out-turn.

The budget for 2024–25 and 2025–26, our ongoing forecast and the impact on our liquid free reserves position forms the basis of our assessment of going concern. Our budgets and forecasts consider global and economic factors such as war and inflation rates. In previous years, we forward purchased our buying options on the commodity element of gas and electricity charges under a variable cap scenario, and the significant savings that we have achieved will come to an end on 30 September 2024. Thereafter we will continue to utilise the ability to forward buy until October 2026 under the same strategy, however, we will no longer benefit from the low rates first purchased in September 2021. The subsequent increase in the commodity element of our utilities has been factored into our budgets.

In assessing going concern we have modelled three separate scenarios, as well as a final scenario which combines the three individual scenarios. The scenarios are detailed in our Going Concern Accounting Policy on page 104.

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We have also considered potential material uncertainty that could place significant doubt over the use of the going concern basis of accounting, for a minimum period of 12 months from the date of approval of these accounts. To do this we have included an extreme fourth scenario which combines all three initial scenarios, and in doing so, we have applied reverse stress tests to identify pre-defined outcomes of the charity failing or becoming unviable, exploring hypothetical scenarios that could result in that outcome.

These scenarios include the most extreme ongoing reduction in fundraising and retail income, increases in pay and non-pay costs; with no mitigating action taken by management.

In undertaking this review, we have identified mitigating actions that would be available to us over and above those already modelled, including:

Based on our forecasts and the reverse stress testing scenario analysis, the trustees have not identified any material uncertainties that would place doubt relating to going concern, and therefore consider that the going concern basis of accounting is appropriate in the preparation of the accounts and that the charity is financially stable enough to continue to operate for the foreseeable future.

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Risk matrix

Principal risks and uncertainties

The Board of Trustees is responsible for ensuring there is adequate and effective risk management. The trustees also ensure a system of internal controls are in place to manage Sue Ryder’s major risks and support the achievement of our strategic objectives.

Processes are in place to manage the key risks that could affect Sue Ryder’s ability to achieve its objectives. These include the following:

Our approach to risk management across Sue Ryder continues to follow our robust Risk Management Framework, which supports consistent delivery of risk management across the directorates and services.

We continue to expect to see financial challenges due to increased costs, driven by the rising cost-of-living, energy costs and legislative living wage increases. Donations and fundraising efforts may be affected as the cost-of-living continues to impact the economy. We manage our financial performance closely to ensure we can deliver our services as efficiently as possible, while still providing our high level of care.

Information relating to the principal risks to Sue Ryder’s objectives and how these are managed is set out on the next few pages.

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Principal risks Key controls and mitigating factors

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Risk matrix (continued)

Information

security breach Group, to help keep information safe. may occur due • Have compliance with the Cyber Essentials scheme, which helps guard against common to a successful cyber threats. cyber attack • Payment Card Industry Data Security Standard (PCI-DSS) compliant, to increase security

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Fundraising

Our supporters are incredibly important to us and raise vital funds to help us be there when it matters. The Charities (Protection and Social Investment) Act 2016 requires charities such as ours to include a statement on our fundraising. The following pages outline five aspects of our approach.

Fundraising statement:

1. Sue Ryder’s approach to fundraising activity, and in particular whether a professional fundraiser or commercial participator was used.

2. Details of any voluntary fundraising scheme or standards which the charity or anyone fundraising on its behalf has agreed to. This includes the regulation scheme established by the Fundraising Regulator.

Our Fundraising teams raise money through legacies or gifts in Wills, corporate fundraising with local companies and national partners, soliciting gifts from trusts and foundations, as well as individual donors via our appeals and events fundraising. We continue to work with several professional fundraisers in order to recruit supporters to the Sue Ryder Lottery and our ‘Friends of Sue Ryder’ regular giving scheme, and use agency QTS to make calls on our behalf to support our campaigns.

Sue Ryder has ongoing corporate partnerships with companies including Arena Flowers, who generate donations through certain products and signpost to Sue Ryder’s free bereavement services. The charity is in the second year as HomeServe’s chosen charity, where staff raise funds throughout the year. We partnered with Lloyds Banking Group to deliver a sustainable fashion show, which championed sustainable fashion using garments from Sue Ryder’s retail arm.

We also have several local partnerships – in Berkshire, Fraser Budgens and BP donate all carrier bag sales. In Yorkshire, Pure Residential Letting Agency give £10 for every new let. In Bedfordshire, another letting agent, Rent Any Property, donates £1 a month for every property they rent out. We have also just begun a partnership with the Bedford Blues Rugby Club. And finally in Cheltenham, our long-standing partnership with Safran continues.

Sue Ryder complies with current regulations and best practice set out by regulatory and professional membership bodies such as the Charity Commission, the Fundraising Regulator, the Chartered Institute of Fundraising and the Direct Marketing Association. We are registered with the Fundraising Regulator, and we are committed to adhering to the Code of Fundraising Practice and the Fundraising Promise.

3. How many complaints the charity or anyone acting on its behalf has received about fundraising for the charity. Any failure to comply with a scheme or standard cited.

We manage and minimise breaches of fundraising compliance through training and inductions for new starters, quality checks, audits and implementing compliance policies and procedures. We always proactively engage and work with the Fundraising Regulator and other professional bodies to ensure that any concerns raised are addressed as a priority.

Sue Ryder received a total of 176 complaints about fundraising in the 2023–24 financial year. Face-toface fundraising accounts for 113 complaints, which is a decrease despite increased activity. The second highest level of complaints relates to direct fundraising by email, at 14 complaints.

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Fundraising (continued)

On average, this equates to just over 14 complaints a month about fundraising. None required escalation to our trustees and no complaints were escalated to the Fundraising Regulator.

Of those 176 complaints, 46 were identified as breaches of the Code of Fundraising Practice, which is a decrease of over 50% compared to the year before. 41 of these were complaints about face-to-face fundraising, with 23 relating to the behaviour of a fundraiser. All complaints relating to our face-to-face fundraising are followed up, investigated and resolved with the relevant third-party agency. We take any breach very seriously and continue to work with our agencies to reduce complaints relating to fundraising activity.

We report on the number of complaints we receive each year to the Fundraising Regulator. We also publish an internal complaints report, reviewing complaints and suggesting actions and learnings that positively impact on our work. We revised and updated our Fundraising Complaints Policy in February 2024 which outlines how complaints should be dealt with and when complaints should be escalated to our Senior and Executive Leadership teams and trustees. We carry out regular quality checks against our complaint handling procedures and refresher training. Our website highlights how an individual can make a complaint, ways they can contact us to do so and when they can expect a response.

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4. Whether and how the charity monitored fundraising activities carried out on its behalf.

At Sue Ryder we acknowledge that the use of third parties can have a significant impact on our ability to raise funds and support our work, as well as improve efficiency and reduce cost. However, it is imperative that we have the right safeguards in place when working with suppliers and those who deliver fundraising work on our behalf to protect our supporters, service users, their families and the reputation and financial position of Sue Ryder.

Sue Ryder requires that any agency or third party that we work with complies with Data Protection legislation as prescribed by the Code of Fundraising Practice, including the requirements of the Telephone, Mailing and Fundraising Preference Services. Details of how we do this are set out in our Privacy Policy.

We follow a robust procurement process when recruiting third parties to work on our behalf, making sure we apply appropriate due diligence and contracts for this work. We work closely with these third parties, regularly reviewing their work against performance targets and compliance with fundraising regulation, including the Code of Fundraising Practice. This ensures that we are delivering the best value for money for the charity and our supporters.

All third-party personnel adhere to a code of conduct when engaging with supporters and potential supporters on our behalf. We have training and monitoring processes in place for third parties specifically relating to vulnerable people and not putting undue pressure onto members of the public to support us. Our monitoring includes shadowing, mystery shopping and call listening. The third parties make it clear when communicating on our behalf how a person can register feedback or a complaint directly with the charity. This is also highlighted in communications sent on our behalf by third parties and in our donor pledges on the Sue Ryder website.

Strategic report

5. What the charity has done to protect vulnerable people and others from unreasonable intrusion on a person’s privacy, unreasonably persistent approaches or undue pressure to give, in the course of or in connection with fundraising for the charity. Here the charity might report whether it has signed up to receiving suppressions under the Fundraising Preference Service.

As part of our Ethical Fundraising Policy, the charity employs a code of conduct which sets out key principles and behaviours that we expect all charity personnel to adhere to, including those employed via a third party. It contains instruction to fundraisers to take all reasonable steps to treat donors fairly so they can make an informed decision about donating, considering the needs of any potential donor who may be in a vulnerable circumstance or require additional support. It also includes specific instruction not to engage in fundraising that is an unreasonable intrusion on a person’s privacy, unreasonably persistent, or places undue pressure on a person to donate.

We place an age restriction on who can be

approached with a fundraising ask by our canvassers to protect minors. Our Sue Ryder Lottery team works with the Gambling Commission to ensure we adhere to the law and offer self-exclusion for individuals who may have issues with gambling. Sue Ryder has a Vulnerable Supporters Policy to ensure all staff have guidance in this area and are comfortable in recognising a person in vulnerable circumstances. We also conduct third party training with our agencies around people in vulnerable circumstances and conduct welcome calls to new face-to-face recruits with vulnerability checks in place.

All our direct marketing and thank you

correspondence contains clear instructions as to how a supporter can easily opt out of receiving further communications from the charity should they choose to do so. Sue Ryder has signed up to the Fundraising Preference Service and to date has received and actioned 65 requests via this channel, 12 of which were in the financial year 2023–24.

Strategic report

Supporting sustainable development goals

Sustainability at Sue Ryder

We are committed to taking action to reduce our carbon emissions and promote sustainability across Sue Ryder, with staff and volunteers playing their part. We are at the beginning of our sustainability journey and know there is more we can do to reduce our impact.

In 2023–24, we teamed up with a sustainability consultancy called Bioregional to deliver a strategic plan to limit our environmental impact. This work was led by our Sue Ryder Sustainability Working Group, made up of staff representatives from different teams across the organisation. We also appointed our first Senior Sustainability Officer to develop and drive forward our plans. We are committed to Bioregional’s vision of One Planet Living[®] , ‘where people can live happily and healthily within the natural limits of the planet, leaving space for wildlife and wilderness’.

United Nations Sustainable Development Goals

To help us communicate our environmental, social and governance (ESG) considerations and demonstrate our commitment to sustainability, we have looked at how Sue Ryder is supporting the United Nations Sustainable Development Goals (SDGs). These are ‘a call for action by all countries – poor, rich and middle-income – to promote prosperity while protecting the planet’.

We have used the SDGs as a starting point to summarise our recent key achievements and opportunities in these areas. In this report, we have focused on 11 of the 17 goals and plan to add to and develop this going forward.

We have focused on:

As part of our sustainability journey, we are also committed to achieving a 2050 net zero target for our Scope 3 carbon emissions. These are indirect emissions that are not directly controlled by us, for example, when we are purchasing goods and services from our suppliers. With Scope 1 and 2 emissions, we want to reduce harmful greenhouse gases across all our operations and reduce the direct emissions that we control (for example, vehicle usage and the electricity we use and pay for), and we are committed to reaching net zero by 2035. We will continually review these commitments to see if we can achieve an earlier date. You can read more about our UK energy use and carbon emissions on page 70.

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United Nations Sustainable Development Goals

End poverty in all its forms everywhere

Sue Ryder opportunities

Sue Ryder achievements

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Supporting sustainable development goals (continued)

United Nations Sustainable Development Goals

Sue Ryder opportunities

Sue Ryder achievements

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United Nations Sustainable Development Goals

Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

Sue Ryder opportunities

Sue Ryder achievements

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Supporting sustainable development goals (continued)

United Nations Sustainable Development Goals

Sue Ryder opportunities

Sue Ryder achievements

Ensure ** Creating modern and water availability and efficient bathroom suites in our sustainable hospices to reduce water usage. management • For our shops to join the national of water and ‘refill’ scheme and offer free sanitation for all** refills of water to our customers, connecting with local authorities.

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United Nations Sustainable Development Goals

Reduce inequalities within and among countries

Sue Ryder opportunities

Sue Ryder achievements

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Supporting sustainable development goals (continued)

United Nations Sustainable Development Goals

Sue Ryder opportunities

Ensure • Develop a sustainable and sustainable ethical procurement policy. consumption • Develop local food sourcing and production strategies for our healthcare patterns settings.

Sue Ryder achievements

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United Nations Sustainable Development Goals

Take urgent action to combat climate change and its impacts

Sue Ryder opportunities

Sue Ryder achievements

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Supporting sustainable development goals (continued)

United Nations Sustainable Development Goals

Sue Ryder opportunities

Sue Ryder achievements

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United Nations Sustainable Development Goals

Sue Ryder opportunities

Sue Ryder achievements

Strengthen the means of implementation and revitalise the global partnership for sustainable development

Dedicated volunteers have been working hard nurturing the kitchen garden and growing a variety of fruit and vegetables at our hospice in Cheltenham.

Strategic report

Energy and carbon report

Over the following pages, we describe our UK energy use and carbon emissions, in accordance with the government’s Streamlined Energy and Carbon Reporting (SECR) scheme.

1. Summary report

Company information

Sue Ryder is a private limited company, incorporated in the UK (00943228). Registered address: Kings House, King Street, Sudbury, Suffolk, CO10 2ED.

Reporting period

1 April 2023–31 March 2024, corresponding with the company’s financial period.

Reasons for change in emissions

This is the fifth year of reporting under SECR. The current emissions compared to the base year (April 2019–March 2020) have been reduced by 3,770.4 tonnes of CO2e, which accounts for a 63% reduction. The main factors causing this drop in emissions are associated with a reduction in natural gas, electricity and company transport consumption. Additionally, they divested three high-energy-consuming services.

Business travel

Organisational boundary

The financial boundary of the business has been used to determine the reporting boundary.

Operational scope

Measurements include mandatory scope 1, 2, and 3 emissions. Estimates have been made with the collation of data. Additionally, optional emissions from electricity transmission and distribution losses have been included in the report.

Exclusions

There are no data exclusions in this reporting period.

Base year

The base year is April 2019–March 2020 and the gross reported emissions during that period were 5,971 tonnes of CO2e. The emissions for the current period show a significant reduction (63%) against the base year (the main factors causing this reduction are associated with the reduction in natural gas, electricity and company transport consumption).

Activities relating to travel are limited to company cars and employee-owned vehicles for business use.

Quantification and reporting methodology

‘HM Government Environmental Reporting Guidelines: including streamlined energy and carbon reporting guidance’ (March 2019) has been used for the collation of data sources and reporting of emissions. ‘UK Government GHG Conversion Factors for Company Reporting’ has been used for the reporting of emissions, using the 2023 version.

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Target setting and responsibilities

The target is to reduce gross scope 1, 2, and 3 emissions in tonnes of CO2e per hundred ft[2] of retail floor used by 2% per year. The reduction of the performance of the current period against the target was 60%.

The target set for the sixth year is to keep the emissions at least 10% lower than the base year.

Intensity measurement

The reporting metric chosen is gross scope 1, 2, and 3 emissions in tonnes of CO2e per hundred ft[2] of retail floor, as this best reflects business activity. The intensity measurement will be reported each year, with a comparison made against the previous year’s performance.

Carbon offsetting

Carbon offsetting from electricity purchased under green supply contracts has been considered in this report.

2. Energy efficiency actions

In the financial period, from April 2023 to March 2024, Sue Ryder has helped to minimise energy consumption by:

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Energy and carbon report (continued)

Scope 1 CO2e (tonnes) % estimated Exclusions April 19–
March 20		 April 20–
March 21		 April 21–
March 22		 April 22–
March 23		 April 23–
March 24
Naturalgas 9% None 1,057.6 1,119.7 1,193.5 709.5 473.7
Company-owned transport 0 None 533.1 201.3 407.1 374.4 247.8
Total Scope 1 0 1,590.7 1,321.0 1,600.6 1,083.9 721.5
Scope 2 CO2e (tonnes) % estimated Exclusions April 19–
March 20		 April 20–
March 21		 April 21–
March 22		 April 22–
March 23		 April 23–
March 24
Grid electricity 8% None 2,799.5 1,243.5 1,767.4 1,319.5 1,204.5
EV vehicles 0 None 7.0
Total Scope 2 0 2,799.5 1,243.5 1,767.4 1,319.5 1,211.6
Scope 3 CO2e (tonnes) % estimated Exclusions April 19–
March 20		 April 20–
March 21		 April 21–
March 22		 April 22–
March 23		 April 23–
March 24
ElectricityT and D losses* 0 None 237.7 106.9 156.4 120.7 104.2
Private transport for business
purposes*		 0 None 1,342.7 95.7 195.9 170.0 163.0
Total Scope 3 0 1,580.3 202.7 352.3 290.7 267.2
Total CO2e Scope 1, 2, 3gross emissions (tonnes) 5,970.6 2,767.1 3,720.4 2,694.2 2,200.2
Intensitymetric measure (hundred f2of retail foor area) 5,327 5,295 5,191 5,191 4,940
Intensity metric (gross emissions) tCO2e/hundred f2of
retail foor area		 1.121 0.523 0.717 0.519 0.445
Energyconsumption Exclusions April 19–
March 20		 April 20–
March 21		 April 21–
March 22		 April 22–
March 23		 April 23–
March 24
kWh As above 24,452,677 12,664,265 17,358,806 12,742,464 10,165,450
Carbon ofsets 0.0 462.2 1,738.0 1,319.5 1,204.5
Total CO2e Scope 1,2,3 Net emissions (tonnes) 5,970.6 2,304.9 1,982.4 1,374.6 995.7
Intensitymetric (net emissions) tCO2e/hundred f2of retail foor 1.121 0.435 0.382 0.265 0.202

Emissions Summary, Sue Ryder Streamlined Energy and Carbon Reporting.

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Strategic report

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Structure. 90vernance and management

Structure, governance and management

Structure, governance and management

In this section, we outline key information related to how our charity operates.

Objects of the charity

Board of Trustees

The main activities undertaken in relation to the purposes of the charity are described in the Welcome on page 6.

The Board of Trustees is responsible for the overall governance of Sue Ryder. Trustees are appointed by the board for three years and can be reappointed for further terms of three years up to a maximum of nine years.

Our objects are as follows:

  1. To provide or assist in the provision of care for persons suffering from any serious or permanent disability, incapacity or illness, whether physical or mental

  2. To relieve the needs of those people potentially excluded from society by reason of old age, ill health (physical or mental), disability, poverty, or criminal history, and to assist their integration into society for the public benefit

  3. To advance the education of the public about the causes of disability, incapacity or illness, whether physical or mental, and the means of relieving those needs

  4. To relieve the mental and physical suffering of persons affected by bereavement or loss, including by the provision of counselling and support for such persons.

The Sue Ryder group is comprised of Sue Ryder (the main operating charity through which all charitable activity is undertaken), Sue Ryder Direct Limited (a trading company which sells new goods and operates the donated Gift Aid scheme) and Sue Ryder Lottery Limited (a company which runs the Sue Ryder Lottery and holds a gambling licence to do so).

Responsibility for the day-to-day running of the charity is delegated to the Chief Executive. The Chief Executive is supported by a group of executives and senior managers. The Chief Executive attends all board meetings and other executives attend as required. The Nominations Committee oversees the recruitment, appointment, induction and training of new trustees. Trustees are recruited following open advertising or by using the services of external advisors. Appointment is based on merit against objective criteria and taking into account the benefits of diversity on the board. In recruiting new trustees, we seek to maintain a balance of skills and experience appropriate to the charity’s activities.

The Chief Executive and Chair of Trustees take responsibility for ensuring trustees receive a corporate induction, including access to organisation documents and those relevant to the committees on which they sit, as well as an online pack of up-to-date strategic information. They are taken through the legal requirements of their role and, on starting, one-toones with board colleagues are arranged in a timely manner. Trustees may also attend an online induction from The National Council for Voluntary Organisations (NCVO). Trustees are all required to complete training on safeguarding, cybersecurity and GDPR and sign a confidentiality agreement. All trustees have Sue Ryder email addresses enabling them to separate charity and personal communications. It also allows them to access a learning portal where training webinars on several areas of charity activity can be accessed.

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Structure, governance and management

The Board of Trustees meets five times a year to review the performance of the charity both financially and in meeting its charitable objectives. To discharge its governance responsibilities effectively, the board has created a number of committees (trustees form the membership with managers in attendance) which have delegated powers from the main Board of Trustees.

These committees and their remits are:

Charity Governance Code

The Board of Trustees supports the principles of good governance set out in the Charity Governance Code and uses the Code’s key principles to evaluate its effectiveness to support continuous improvement and ensure the highest standards of governance.

The performance of individual trustees is assessed each year when the Chair holds an annual review. The board reviews its performance annually against the Charity Governance Code using the Governance Code assessment with the specific areas of the code being monitored by the relevant board committees. As recommended by the Code, every three years the Board commissions an independent review of its performance, and in the intervening years it undertakes a self-evaluation process. Any agreed actions are overseen by the Nominations Committee. For the 2023–2024 year a self-evaluation process was carried out. The outcomes of this evaluation were an agreement for further training and development opportunities for trustees, as well as a skills audit to enhance trustees’ assignment to committees.

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Structure, governance and management (continued)

Governance, risk management and internal controls

The trustees regularly review the risks faced by the charity to develop proportionate controls and deliver on the charity’s strategic aims. The main risks being monitored are the principal risks documented from page 54 of this Annual Report.

The trustees bear overall responsibility for ensuring Sue Ryder operates appropriate controls to provide reasonable assurance that:

The Audit and Risk Committee has delegated responsibility for monitoring the effectiveness of internal controls, and reports to the Board by way of the Board Assurance Framework.

Trustees receive assurance from internal assurance providers which have been assessed as fit for purpose. These are the Quality and Governance team, which reports to the Health and Social Care Committee, and Internal Audit, which reports to the Audit and Risk Committee.

Regular audits are undertaken from a risk-based annual audit plan as approved by the Audit and Risk Committee. Progress on audit and risk activity and implementation of management action plans are reported on at meetings of the Audit and Risk Committee.

Financial risk management

Internal controls over all forms of income, assets, commitment and expenditure continue to be refined to improve efficiency. Performance is monitored and appropriate management information is prepared and reviewed regularly, together with proposed corrective actions by both the Chief Executive and the trustees. The charity produces an annual budget and reports monthly against that budget, requiring senior management to comment on variances and outline corrective action. Updated financial forecasting is undertaken during the year to reflect changes in the operating environment and their impact on income and expenditure.

Internal audit

Our Internal Audit function, outsourced to Mazars, delivers a risk-based audit programme approved by our Audit and Risk Committee. Audit results and progress by management on the implementation of the audit recommendations are presented to the Executive Leadership Team and the Audit and Risk Committee.

Sue Ryder’s risk management process is underpinned by a clear Risk Management Framework which sets out the process that we use to identify and manage risks in all our activities. The Director of Risk and Governance liaises with each directorate to track and manage their effective management of risk through individual Directorate Risk Registers. An overarching Strategic Risk Register is used to monitor the management of key operational and strategic risks to Sue Ryder.

The Board formally review the strategic risk register annually and it is routinely reviewed by the Audit and Risk Committee and Executive Leadership team on a quarterly basis.

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Structure, governance and management

Management and policies

Grant making

Sue Ryder currently provides a £20,000 grant each quarter to support the ongoing work of an independent Sue Ryder organisation in Albania. Sue Ryder does not provide grants to any other organisations.

Policy and practice on the payment of creditors

The charity complies with best practice and always endeavours to meet the payment terms agreed with suppliers through our procurement and tendering process. The ratio of amounts owed to trade creditors at the year-end to purchases during the year was 7.7% (2022–23: 9.1%).

of employees who become disabled while employed by the charity. Where a current employee or volunteer becomes disabled due to illness or injury, the charity, wherever possible and reasonable, will provide assistance with rehabilitation, adaptation to premises, modification of equipment, provision of special aids, job restructuring, retraining and/or redeployment opportunities.

Sue Ryder also has a People with Disabilities network group which feeds into our Equity, Diversity and Inclusion work. The group aims to raise awareness among all colleagues of the breadth of impact that having a disability can have, and to encourage our staff and volunteers with disabilities to come forward and gain support in a safe space.

Gender pay gap

Pensions

Sue Ryder operates the following pension schemes:

Sue Ryder also contributes to a defined benefit contributory pension scheme on behalf of certain former National Health Service employees. As it is not possible to identify the surpluses or deficits that relate to Sue Ryder, this scheme is treated as a defined contribution scheme under FRS102.

Employment of disabled persons

Sue Ryder is committed to a policy of recruitment and promotion on the basis of aptitude and ability without negative discrimination of any kind.

Management actively pursues both the employment of disabled persons whenever a suitable vacancy arises and the continued employment and retaining

At Sue Ryder, our mean gender pay gap is 3.9%. This shows that, on average, the hourly rate men are paid is just fractionally higher than the rate women receive and compares well to the national average of 13.2%.

Our median gender pay gap is 2.0%. This shows that the median pay point is lower for men, and is the difference if we line up all salaries and take the middle-paid man and woman. The national figure for this is 14.3%, so we compare very favourably.

We have about 2,500 staff based across the UK, with a gender split of 83.7% women and 16.3% men. Although our pay gap figures are low, we still strive to eliminate any gender bias.

Sue Ryder has policies and procedures in place in our recruitment, development, pay and progression of employees which avoid gender discrimination or any other type of discrimination. We are committed to addressing inequality when it is identified. We employ a full-time Equity, Diversity and Inclusion (ED&I) Lead. Our recruitment process is fully anonymous so unconscious bias at the application selection stage is greatly reduced, and we use a charity-wide job grading structure which ensures pay can be managed for jobs of equal size across all parts of the organisation.

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Structure, governance and management

Remuneration policy

Our reward policies ensure that the charity can attract, retain and motivate our staff by offering and maintaining appropriate remuneration and benefits. This includes both financial and non-financial rewards and recognition.

During 2022–23 we developed new pay structures for our workforce and introduced job families and job evaluation to ensure equity and fairness across all roles, linking pay to job grade and function, benchmarked against the relevant job market.

It is our aim to pay and provide employee benefits at the market midpoint; that is the average of similar employers in the locality of where the job is based.

We have introduced varying pay increases for our store managers and healthcare staff, which allow top performance to be rewarded with larger increases. This facilitates greater market competitiveness and retention, and we plan to roll this approach out across the wider organisation in the next year.

Executive Leadership Team pay and remuneration is set by trustees who sit on the People and Remuneration Committee. Benchmark salary data is shared annually at this committee, along with a review of performance during the year and the committee agrees the appropriate pay award for each member of the Executive Leadership Team and the Chief Executive. We aim to encourage a culture where all people feel included and valued for the unique contribution they bring to our organisation. We seek to attract and engage people from a diversity of backgrounds, cultures, ages and abilities who bring a broad range of knowledge, skills and experience. We do not discriminate on the basis of sex, age, disability, race, religion or belief, sexual orientation or any other protected characteristic.

We encourage and reward innovation, achievement and behaviours through recognition schemes, appraisal criteria, development plans and skills frameworks. Reasons for reward decisions are clearly communicated to those concerned.

Employee/volunteer involvement

Information about aims and activities is shared with all staff and volunteers through intranet, virtual and inperson briefings, email, printed publications, and video.

We run annual surveys for both staff and volunteers to gather feedback on people’s experiences of working and volunteering at Sue Ryder. As well as local improvements, feedback from previous years sparked the launch of our culture development programme and led to the creation of the Sue Ryder Knowledge Academy. We have also improved our volunteer experience and introduced new ways for volunteers to engage with us as a result of their feedback, including a dedicated online hub and a volunteer forum. The results influence the way we move forward with our strategy and help to make Sue Ryder a better place to work and volunteer.

Auditors

The auditor, RSM UK Audit LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Trustees’ responsibilities

The trustees, who are also directors for the purposes of company law, are responsible for preparing the Annual Report (including the Strategic report) and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

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Structure, governance and management

Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and charity and of the incoming resources and application of resources, including the income and expenditure, of the group and charitable company for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charity, and enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005 and Regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006. They are also responsible for safeguarding the assets of the group and charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Financial statements are published on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the charity’s website is the responsibility of the trustees. The trustees’ responsibility also extends to the ongoing integrity of the financial statements contained therein.

Public benefit

The Board of Trustees has given regard to the legislative and regulatory requirements for disclosing how its charitable objectives have provided benefit to the public.

The trustees confirm that they have complied with their duty under the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. This report outlines how our achievements during 2023–24 have benefited the public, either directly or indirectly.

The trustees confirm that, so far as they are aware, there is no relevant audit information of which the auditors are unaware. They have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

The Trustees’ Annual Report, incorporating the Strategic report and Directors’ report, was approved by the Board of Trustees on 17 July 2024.

Dr Rima Makarem Chair of Trustees

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Legal and administrative details

For the year ended 31 March 2024.

Status

Sue Ryder is a charitable company limited by guarantee, incorporated on 28 November 1968 (last amended on 6 December 2019), and registered as a charity in England and Wales on 17 January 1996 and in Scotland on 14 May 2008.

Governing document

Sue Ryder was established under a Memorandum of Association and is governed under its Articles of Association, which establish the objects and powers of the organisation.

Company number

943228

Charity number

1052076

Scottish charity number

SC039578

Board of Trustees

Registered office

King’s House, King Street, Sudbury, Suffolk CO10 2ED

Principal office

183 Eversholt Street, London, NW1 1BU

Our trustees are responsible for the overall control and strategic direction of Sue Ryder. They work voluntarily to make sure we are doing everything we can to support people through the most difficult times of their lives. Unless otherwise indicated, the trustees were in post from 1 April 2023 to 31 March 2024. Membership of committees is also indicated.

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Dr Rima Makarem Chair of Trustees

Rima initially trained as a scientist before going on to hold senior roles within the global pharmaceutical sector. She has built up a broad non-executive track record over recent years, including significant work locally, regionally and nationally in the health and care sector. She currently chairs the Bedfordshire, Luton and Milton Keynes Integrated Care System. Other roles in her portfolio include Lay Council member for the General Pharmaceutical Council, Chair of Queen Square Enterprises Ltd and Trustee of LifeArc. Rima was previously the Senior Independent Director and Audit Chair of the National Institute for Health and Care Excellence (NICE), as well as the Audit Chair and an External Commissioner at the House of Commons Commission, working closely with the Speaker and the Leader of the House.

Committees: Nominations (ex officio member of Finance, Investment and Commercial, Health and Social Care and People and Remuneration)

Dr Katherine Buxton

Katherine has worked as a Consultant in Palliative Medicine at Imperial College since 2012. In addition to her clinical role, she also holds the role of Clinical Lead for End of Life Care for the Trust. Since her appointments she has led on several key projects, including the development of clinical tools within the Trust electronic patient record, improvements related to CPR and treatment escalation decisions and implementation of an advanced liver disease service.

In 2022 Katherine was appointed into her first regional roles, taking up the post of Clinical Director for Palliative and End of Life Care with NHSE/London and also that of Clinical Lead for the Universal Care Plan Programme. Katherine has a keen interest in improving planned care pathways for palliative and end-of-life care across systems and the development of digital technology to support it.

Committees: Health and Social Care

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Structure, governance and management

Legal and administrative details (continued)

Guy Boersma

Linda Goodacre

Chair of Health and Social Care Committee

Professor Guy Boersma is an experienced health and care change agent and executive coach.

He is the Executive Director, coordinating the work of Bromley by Bow Health Partnership, which is known across the NHS as pioneers of Social Prescribing and addressing the social determinants of health.

He holds other pro bono roles as Healthcare Denmark’s UK Ambassador and as Visiting Professor of Translational and Experimental Medicine at University of Surrey.

Guy, who grew up in Yorkshire, left for London University and still lives in London with his only child and their dog, where he supports Sunderland Football Club and escapes to the Scottish countryside with walking boots and a good book for holidays.

Committees: Health and Social Care

Linda has worked in property for over 35 years. Most of that time has been spent working in national and multinational retailers, where she has dealt with all types of property including logistics, manufacturing, residential, research, leisure, hospitality and all types of retail.

Linda has been a Fellow of the Royal Institution of Chartered Surveyors since 2011. She is currently Director of Estates and Facilities Management at the University of Sheffield and was previously Head of Retail Strategy and Portfolio Execution at Barclays. From April 2018 to April 2022, she was Director of Estates and Facilities at the University of Nottingham, which is her hometown. Linda looked after the estates capital programme, all facilities management and all catering and hospitality.

In her time in retail she has been a representative of many organisational bodies including the Confederation of British Industry (CBI); British Retail Consortium (BRC); The Property Managers Association (PMA); and Business in the Community (BITC).

Committees: Finance, Investment and Commercial and Audit and Risk

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Structure, governance and management

Nicola Hayes

Chair of Financial Investment and Commercial Committee

Nicola has had a wide-ranging career covering everything from pedigree dogs and universities to trade associations, with the vast majority spent in financial services at two firms, Invesco Perpetual and Baring Asset Management. When she left Barings in December 2016, she was Global Head of Client Service and Relationship Management, and a non-executive director of eight fund management companies.

Nicola now works as a senior advisor to Independent Audit Ltd, the leading board effectiveness consultancy, and chairs the Investment Committee of the Metropolitan Police Friendly Society (Metfriendly). She has an MA in Modern History from the University of St Andrews.

Committees: Finance, Investment and Commercial

Sue Hopgood (to 28 March 2024)

Sue has over 35 years of experience gained across NHS organisations and the wider public sector. Sue has recently retired from the role of Managing Director of the Cross Sector Leadership Exchange, a community interest company that brings together leaders from different sectors.

Sue’s expertise lies in human resource management and organisational development, and she has an MA in Strategic Human Resources. She has dedicated the last 18 years to specialising in leadership development, talent management, employee engagement and culture change. She is passionate about helping individuals and organisations to be the very best they can be, which in turn improves organisational and individual performance.

Committees: People and Remuneration; Audit and Risk

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Structure, governance and management

Legal and administrative details (continued)

Stuart Hudson

Christine Kanu

Senior Independent Trustee

Stuart Hudson is a Partner at the consulting firm Brunswick where he advises companies on mergers and acquisitions, regulation and public policy. Previously Stuart served at the Competition and Markets Authority (CMA) as Senior Director of Strategy, a member of the Executive Committee and an adviser to the Board. During the global financial crisis he was appointed a Special Adviser to Prime Minister Gordon Brown and, prior to that, he was Head of Government Affairs at the energy regulator, Ofgem. He originally trained in European competition policy with the Office of Fair Trading.

Stuart holds a BA in History and Politics from the University of Oxford and an MSc in Finance from the University of London.

Committees: Audit and Risk; Nominations

Christine is a senior finance professional with over 20 years’ experience spanning several sectors including not-for-profit and social purpose organisations.

She enjoys collaborating with modern, dynamic, forward-thinking organisations that are active on physical and mental health, the environment and climate issues, human rights and social justice.

She currently serves as Chief Financial Officer at the Anna Freud National Centre for Children and Families. Christine also holds governance roles with Global Witness and The Recruitment and Employment Confederation (REC). In addition, she is a mentor for the University of London’s Careers Group Advisory Panel for Colleagues who are Black, Asian and of Diverse Heritage.

Steering Groups: Equity, Diversity and Inclusion Committees: Finance, Investment and Commercial; People and Remuneration

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Structure, governance and management

Andrew Richmond

Chair of Audit and Risk Committee Director of Sue Ryder Lottery Ltd

Andrew was a number one rated healthcare and smaller companies analyst enjoying a wide-ranging career in the City of London in stockbroking, fund management and private equity. His non-executive positions have included chairing Frontier IP Group PLC, the quoted intellectual property specialist, being Deputy Chair of the Scottish Ambulance Service, sitting on the Board of NHS Tayside, and chairing Hub North Scotland, which is an infrastructure procurement specialist delivering properties for both the NHS and local authorities. He has also chaired the Angus Community Health Partnership (CHP), been Vice Chair of the Caledonia Housing Association and sat on the Court of the University of Dundee.

He is currently a trustee of the COIF (CCLA) Charity Funds, which is the largest charity investor in the UK, a trustee of the Church of Scotland Investors Trust and a trustee of Scotland’s Charity Air Ambulance (SCAA).

Kevin Rusling

Director of Sue Ryder Direct Ltd Chair of People and Remuneration Committee

With over 28 years of experience in the global consumer space, Kevin is currently Corporate Development Officer at De La Rue plc. Kevin has substantial experience designing, leading and implementing corporate growth and realignment strategies across a global footprint. His early career at Marks and Spencer gave him excellent grounding in retail, and he went on to lead teams at Walmart and Monsoon Accessorize prior to joining Mothercare to lead the transformation of the business. Kevin’s expertise lies in shaping and delivering a strategic vision across challenging, international business portfolios. He brings tremendous energy, drive and exceptional focus working collaboratively with leadership teams to deliver outstanding results.

Committees: Finance, Investment and Commercial

Andrew has an MA in Economics and Accounting from the University of Edinburgh and is an Associate of the Society of Investment Professionals (ASIP).

Committees: Audit and Risk; People and Remuneration

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Structure, governance and management

Legal and administrative details (continued)

Helen Thomson (to 28 March 2024)

Helen has over 20 years of experience as a Chief Nurse and Deputy CEO within the NHS. She is a registered nurse and midwife, and also has a number of years of experience as a coach. Upon retiring from the NHS in 2014, she formed her own business offering consultancy and coaching. She is an Associate of the Florence Nightingale Foundation, Non-Executive Director for Leeds Community NHS Trust and a Council Member of the University of Huddersfield. She was also appointed Deputy Lieutenant for West Yorkshire in 2012 and Vice Lord-Lieutenant in 2022.

Committees: Health and Social Care; Audit and Risk

Polly Bishop (joined May 2023)

Polly is a leader in digitally enabled healthcare strategy and transformation, with over 25 years of experience in consulting and healthcare. She is passionate about the potential for digital and data to enable the transformation of healthcare experiences and outcomes, reduce inequalities and drive efficiency.

Polly is a Partner with IBM Healthcare Consulting. She has worked across the healthcare sector, with Cap Gemini Ernst & Young, Eli Lilly, Bupa and the NHS. As NHSX Director of Digital Experience, Polly led national digital citizen healthcare services, including the NHS website and the NHS App, and has held digital leadership roles for NHS Integrated Care Systems.

Committees: Health and Social Care; Audit and Risk

Auditors

RSM UK Audit LLP, Blenheim House, Newmarket Road, Bury St Edmunds, Suffolk IP33 3SB

Bankers

Lloyds TSB plc, 13 Cornhill, Ipswich IP1 1DG

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Structure, governance and management

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Tabetha Darmon (joined July 2023)

Tabetha Darmon joined University Hospitals of Morecambe Bay NHS Foundation Trust (UHMBT) as Chief Nursing Officer on 1 May 2023. She was previously Executive Director of Nursing, AHPs and Quality for Nottinghamshire Healthcare NHS Foundation Trust. Nottinghamshire Healthcare has more than 9,000 members of staff, and provides integrated healthcare services, including mental health, intellectual disability and physical health services in a variety of settings ranging from the community through to acute wards, as well as secure settings.

Tabetha is a registered Mental Health Nurse, who holds a BA (Hons) in Applied Youth and Community Work, a post graduate diploma in Management, post grad (cert) in Health Promotion, Risk and Society, Prince2 project Management and an MBA. She has more than 30 years’ leadership experience at a local and national level.

Dr Vishen Ramkisson (joined May 2024)

Dr Vishen is a senior medical leader who has worked in several national roles across the NHS, including Senior Clinical Lead for NHS Digital and National Speciality Advisor for Urgent Emergency Care at NHS England.

He is currently the Chief Executive Officer of AgeCare UK, which owns and operates nine nursing and residential care homes in England, offering 450 beds, and employing over 600 staff. He is driven by a desire to make a difference to healthcare outcomes and also cares for patients as a practising GP.

Some of his achievements include clinically leading the Covid-19 vaccination programme, which led to the world’s first Covid-19 vaccine outside of a clinical trial being given to 90-year-old Margaret Keenan in December 2020. He also implemented the first video consultation service in urgent care in England. In his spare time, he enjoys playing and watching cricket, rugby and motorsports.

Committees: Health and Social Care; Audit and Risk

Solicitors

Investment managers

CCLA, 1 Angel Lane, London, EC4R 3AB

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Structure, governance and management

Our Executive Leadership Team

The Executive Leadership Team (ELT), led by our Chief Executive, Heidi Travis, is responsible for the day-to-day running of Sue Ryder. Key management personnel are defined as trustees and the roles of Chief Executive and the Chief Finance Officer, supported by the ELT.

Chief Executive Heidi Travis

Chief Operating Officer (to July 2024) Alan Bowers

Company Secretary and General Counsel (to September 2023) Helen Organ

Chief Finance Officer (from May 2023. Previously Director of Finance) Kirsten Stevens

Chief People and Culture Officer (from May 2023. Previously Director of People and Corporate Services) Tracey Taylor-Huckfield

Chief Commercial Officer (from July 2023. Previously Director of Retail and Estates) Martin Wildsmith

Chief Medical Director Dr Paul Perkins

Director of Fundraising (to June 2023) Caroline Graham

Executive Strategic Programme Director Joanna Lee

Company Secretary and General Governance (from October 2023) Bernice Ackah

Chief Nursing Officer (from

August 2023. Previously Interim Director of Patient Services and Nursing from April 2023) Jane Turner

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Structure. go rnance and management pill 91

Independent auditor’s report to the trustees and members of Sue Ryder

Independent auditor’s report to the trustees and members of Sue Ryder

Opinion

Basis for opinion

We have audited the financial statements of Sue Ryder (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities incorporating the consolidated income and expenditure account, the Charity Statement of Financial Activity incorporating the charity income and expenditure account, the Consolidated and Charity Balance Sheets, the Consolidated and Charity Cash Flow Statements, 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:

We have been appointed auditor under section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

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 group and parent 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 the group’s or parent charitable company’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.

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Independent auditor’s report to the trustees and members of Sue Ryder

Other information

The other information comprises the information included in the annual 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:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report or the strategic report, included within the trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out on page 80 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 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.

93

Independent auditor’s report to the trustees and members of Sue Ryder

In preparing the financial statements, the trustees are responsible for assessing the group’s and parent 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 group or parent 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.

The extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of noncompliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the group audit engagement team:

94

Independent auditor’s report to the trustees and members of Sue Ryder

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006, Charities Act 2011, Charities and Trustee Investment (Scotland) Act 2005, regulation 8 of Charities Accounts (Scotland) Regulations 2006, the parent charitable company’s governing document and tax legislation. We performed audit procedures to detect noncompliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report, remaining alert to new or unusual transactions which may not be in accordance with the governing documents and inspecting correspondence with local tax authorities.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to the Care Quality Commission. We performed audit procedures to inquire of management and those charged with governance whether the group is in compliance with these law and regulations and inspected any correspondence with the regulator during the year.

The group audit engagement team identified the risk of management override of controls, completeness of income and existence of retail income as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates and performing tests of details on relation to the completeness of income and existence of retail income.

Use of our report

This report is made exclusively to the members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended). Our audit work has been undertaken so that we might state to the members and the charitable company’s trustees 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, its members as a body, and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Claire Sutherland

CLAIRE SUTHERLAND (Senior Statutory Auditor)

For and on behalf of RSM UK AUDIT LLP, Statutory Auditor Chartered Accountants Blenheim House Newmarket Road Bury St Edmunds IP33 3SB

24 July 2024

RSM UK AUDIT LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at http://www. frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

95

Financial statements 97

Financial statements

Accounts for the year ended 31 March 2024

Consolidated Statement of Financial Activities, incorporating consolidated income and expenditure account – year ending 31 March 2024

----- Start of picture text -----
Unrestricted Restricted Discontinued Total
funds funds operations 2023–24
Note £000s £000s £000s £000s
Income:
Donations and legacies 3 4,729 11,807 - 16,536
Charitable activities 4 14,613 128 16,825 31,566
Other trading activities 5 65,568 - - 65,568
Investment income 6 914 - - 914
Other income 7 - - 1,452 1,452
Total income 85,824 11,935 18,277 116,036
Expenditure:
Raising funds 8 60,743 - - 60,743
Charitable activities 8
End-of-life care 23,173 11,324 - 34,497
Long-term neurological care 3,599 387 21,843 25,829
Bereavement 3,021 9 - 3,030
Homecare 2 - - 2
International 9 80 - - 80
Total expenditure on charitable activities 29,875 11,720 21,843 63,438
Total expenditure 8 90,618 11,720 21,843 124,181
Net (expenditure)/income for the year (4,794) 215 (3,566) (8,145)
Gains on investment assets 13 1,631 - - 1,631
Net (expenditure)/income for the year before transfers (3,163) 215 (3,566) (6,514)
Transfer between funds 18, 19 (4,186) (370) 4,556 -
Net (expenditure) for the year after transfers (7,349) (155) 990 (6,514)
(Loss) on revaluation of fixed assets - - (990) (990)
Net (expenditure) for the year after revaluation (7,349) (155) - (7,504)
Reconciliation of funds:
Total funds brought forward 18, 19 59,226 594 - 59,820
Net movement of funds for the year (7,349) (155) - (7,504)
Total funds carried forward as at 31 March 2024 18, 19 51,877 439 - 52,316
----- End of picture text -----

98

Financial statements

----- Start of picture text -----
Unrestricted Discontinued Total
funds operations 2022–23
restated Restricted restated restated
(note 23) funds (note 23) (note 23)
£000s £000s £000s £000s
4,119 10,088 - 14,207
14,028 645 21,171 35,844
61,912 - - 61,912
196 - - 196
- - - -
80,255 10,733 21,171 112,159
60,083 - - 60,083
20,465 9,841 - 30,306
4,302 423 25,230 29,955
2,471 155 - 2,626
96 - - 96
80 - - 80
27,414 10,419 25,230 63,063
87,497 10,419 25,230 123,146
(7,242) 314 (4,059) (10,987)
35 - - 35
(7,207) 314 (4,059) (10,952)
(3,197) (862) 4,059 -
(10,404) (548) - (10,952)
- - - -
- - - -
69,630 1,142 - 70,772
(10,404) (548) - (10,952)
59,226 594 - 59,820
----- End of picture text -----

The Statement of Financial Activities includes all gains and losses recognised in the 12 month period. The notes on pages 104 to 133 form part of these financial statements.

Discontinued operations are related to unrestricted activities.

99

Financial statements

Accounts for the year ended 31 March 2024 (continued)

Charity Statement of Financial Activities, incorporating charity income and expenditure account – year ending 31 March 2024

----- Start of picture text -----
Unrestricted Restricted Discontinued Total
funds funds operations 2023–24
Note £000s £000s £000s £000s
Income:
Donations and legacies 3 4,729 11,807 - 16,536
Charitable activities 4 14,613 128 16,825 31,566
Other trading activities 5 61,583 - - 61,583
Investment income 6 894 - - 894
Other income 7 - - 1,452 1,452
Total income 81,819 11,935 18,277 112,031
Expenditure:
Raising funds 7 56,738 - - 56,738
Charitable activities 7
End-of-life care 23,173 11,324 - 34,497
Long-term neurological care 3,599 387 21,843 25,829
Bereavement 3,021 9 - 3,030
Homecare 2 - - 2
International 8 80 - - 80
Total expenditure on charitable activities 29,875 11,720 21,843 63,438
Total expenditure 7 86,613 11,720 21,843 120,176
Net (expenditure)/income for the year (4,794) 215 (3,566) (8,145)
Gains on investment assets 12 1,631 - - 1,631
Net (expenditure)/income for the year before transfers (3,163) 215 (3,566) (6,514)
Transfer between funds 17,18 (4,186) (370) 4,556 -
Net (expenditure) for the year after transfers (7,349) (155) 990 (6,514)
(Loss) on revaluation of fixed assets - - (990) (990)
Net (expenditure) for the year after revaluation (7,349) (155) - (7,504)
Reconciliation of funds:
Total funds brought forward 17,18 59,213 594 - 59,807
Net movement of funds for the year (7,349) (155) - (7,504)
Total funds carried forward as at 31 March 2024 17,18 51,864 439 - 52,303
----- End of picture text -----

100

Financial statements

----- Start of picture text -----
Unrestricted Discontinued Total
funds operations 2022–23
restated Restricted restated restated
(note 23) funds (note 23) (note 23)
£000s £000s £000s £000s
4,119 10,088 - 14,207
14,028 645 21,171 35,844
56,940 - - 56,940
194 - - 194
- - - -
75,281 10,733 21,171 107,185
55,109 - - 55,109
20,465 9,841 - 30,306
4,302 423 25,230 29,955
2,471 155 - 2,626
96 - - 96
80 - - 80
27,414 10,419 25,230 63,063
82,523 10,419 25,230 118,172
(7,242) 314 (4,059) (10,987)
35 - - 35
(7,207) (2,905) (4,059) (10,952)
(3,197) (862) 4,059 -
(10,404) (548) - (10,952)
- - - -
(10,404) (548) - (10,952)
69,617 1,142 - 70,759
(10,404) (548) - (10,952)
59,213 594 - 59,807
----- End of picture text -----

The Statement of Financial Activities includes all gains and losses recognised in the 12 month period. The notes on pages 104 to 133 form part of these financial statements.

Discontinued operations are related to unrestricted activities.

101

Accounts for the year ended 31 March 2024 (continued)

Consolidated and charity balance sheets

Company registration number: 00943228

Consolidated
31 March 2024
£000s
31 March 2023
restated
(note 22)
£000s
15,822
28,902
2,260
1,830
14,047
12,495
32,129
43,227
888
1,038
14,780
16,997
18,239
23,581
33,907
41,616
(10,144)
(12,639)
23,763
28,977
55,892
72,204
-
(6,842)
(3,576)
(5,542)
(3,576)
(12,384)
52,316
59,820		 Consolidated
31 March 2024
£000s
31 March 2023
restated
(note 22)
£000s
15,822
28,902
2,260
1,830
14,047
12,495
32,129
43,227
888
1,038
14,780
16,997
18,239
23,581
33,907
41,616
(10,144)
(12,639)
23,763
28,977
55,892
72,204
-
(6,842)
(3,576)
(5,542)
(3,576)
(12,384)
52,316
59,820		 Charity
31 March 2024
£000s
31 March 2023
restated
(note 22)
£000s
15,822
28,902
2,260
1,830
14,047
12,495
32,129
43,227
-
-
16,083
17,468
17,273
23,118
33,356
40,586
(9,606)
(12,122)
23,750
28,464
55,879
71,691
-
(6,842)
(3,576)
(5,042)
(3,576)
(11,884)
52,303
59,807		 Charity
31 March 2024
£000s
31 March 2023
restated
(note 22)
£000s
15,822
28,902
2,260
1,830
14,047
12,495
32,129
43,227
-
-
16,083
17,468
17,273
23,118
33,356
40,586
(9,606)
(12,122)
23,750
28,464
55,879
71,691
-
(6,842)
(3,576)
(5,042)
(3,576)
(11,884)
52,303
59,807
Note 31 March 2024
£000s		 31 March 2023
restated
(note 22)
£000s		 31 March 2024
£000s		 31 March 2023
restated
(note 22)
£000s
Fixed assets
Tangible assets 10 15,822 28,902 15,822 28,902
Intangible assets 11 2,260 1,830 2,260 1,830
Investments 12 14,047 12,495 14,047 12,495
32,129 43,227 32,129 43,227
Current assets
Stocks 888 1,038 - -
Debtors 13 14,780 16,997 16,083 17,468
Cash at bank and in hand 18,239 23,581 17,273 23,118
33,907 41,616 33,356 40,586
Creditors, amounts falling due within one year 14 (10,144) (12,639) (9,606) (12,122)
Net current assets 23,763 28,977 23,750 28,464
Total assets less current liabilities 55,892 72,204 55,879 71,691
Creditors: amounts falling due after one year 15 - (6,842) - (6,842)
Provisions for liabilities 16 (3,576) (5,542) (3,576) (5,042)
Long-term liabilities and provisions (3,576) (12,384) (3,576) (11,884)
Total net assets 52,316 59,820 52,303 59,807
Funds of the charity
Unrestricted funds
Propertyrevaluation reserve 17 1,469 3,323 1,469 3,323
Unrestrictedgeneral funds 17 50,408 55,903 50,395 55,890
Total unrestricted funds 51,877 59,226 51,864 59,213
Restricted funds 18 439 594 439 594
Total funds 52,316 59,820 52,303 59,807

The notes on pages 104 to 133 form part of these financial statements.

Approved and authorised for issue by the Board of Trustees on 17 July 2024 and signed on its behalf by

Dr Rima Makarem Chair of Trustees

Financial statements

Consolidated cash flow statement

Consolidated cash fow statement
Consolidated Charity
Note 2023–24
£000s		 2022–23
£000s		 2023–24
£000s		 2022–23
£000s
Cash fows from operating activities
Net cash (outfow)/infow provided by operating
activities		 25 (5,343) (471) (5,826) (427)
Cash fows from investing activities
Investment income received 914 196 894 194
Net receipts from sales of fxed assets held for sale - 1,900 - 1,900
Payments to acquire tangible fxed assets 11 (3,321) (1,519) (3,321) (1,519)
Payments to acquire intangible fxed assets 12 (1,235) (926) (1,235) (926)
Receipts from sale of tangible fxed assets 11,000 - 11,000 -
Purchase of investments 13 - (1,400) - (1,400)
Net cash generated/(used) in investing activities 7,358 (1,749) 7,338 (1,751)
Cash fows from fnancing activities
Interest repayments on borrowings to fnance fxed asset
development		 25 (344) (311) (344) (311)
Capital repayments on borrowings to fnance fxed asset
development		 (7,013) (214) (7,013) (214)
Net cash provided by fnancing activities (7,357) (525) (7,357) (525)
Change in cash and cash equivalents during the year (5,342) (2,745) (5,845) (2,703)
Cash and cash equivalents at the beginning of the year 23,581 26,326 23,118 25,821
Cash and cash equivalents as at the end of the year 18,239 23,581 17,273 23,118

Analysis of changes in net debt

Consolidated Charity
At start
ofyear
Net cash
fows		 At end
ofyear		 At start
ofyear		 Net cash
fows		 At end
ofyear
Bank and cash 23,581 (5,342) 18,239 23,118 (5,845) 17,273
Loans fallingdue within oneyear (171) 171 - (171) 171 -
Loans fallingdue within one and fveyears (1,031) 1,031 - (1,031) 1,031 -
Loans fallingdue afer fveyears (5,811) 5,811 - (5,811) 5,811 -
(7,013) 7,013 - (7,013) 7,013 -
Total change in net debt 16,568 1,671 18,239 16,105 1,168 17,273

103

Financial statements

Notes to the accounts

1 Accounting policies

(a) Basis of preparation

The financial statements are prepared in accordance and compliance with: (i)FRS 102, the Financial Reporting Standard applicable in the United Kingdom; (ii) 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) (second edition – October 2019)’ issued by the Charity Commission; (iii) Companies Act 2006; Charities and Trustee Investment (Scotland) Act 2005; and Charities Accounts (Scotland) Regulations 2006.

Sue Ryder meets the definition of public benefit entity under FRS102. Monetary values are calculated under the historical cost convention, as modified by the revaluation of investments.

Amounts in these financial statements have been rounded to the nearest £1,000, unless otherwise stated.

We continue to navigate the ongoing challenges of the cost-of-living crisis and the significant deficit in hospice funding while balancing rising costs and fair pay and reward structures for our colleagues. We have prepared a three year budget plan for 2024–25 to 2026–27 and will forecast as we move through the year to update our anticipated outturn.

The budget for 2024–25 and 2025–26, our ongoing forecast and the impact on our liquid free reserves position forms the basis of our assessment of going concern. Our budgets and forecasts consider global and economic factors such as war and inflation rates. In prior years we forward purchased our buying options on the commodity element of gas and electricity charges under a variable cap scenario, and the significant savings that we have achieved will come to an end on 30 September 2024. Thereafter we will continue to utilise the ability to forward buy until October 2026 under the same strategy, however will no longer benefit from the low rates first purchased in September 2021. The subsequent increase in the commodity element of our utilities has been factored into our budgets.

(b) Company information

Sue Ryder (the charity) is a charitable company limited by guarantee, incorporated in England and registered as a charity in England, Wales and Scotland. The registered office of the company is disclosed on page 82.

(c) Going concern

In 2023–24 we started our journey towards our new vision and began to lay the foundations of our longterm strategy. Alongside the annual budget approved by the Board of Trustees, the charity undertakes quarterly forecasting and closely monitors this and cashflow, taking mitigating actions where appropriate to mitigate any changes within the economic or operating environment that would adversely impact our cashflow projections.

In assessing going concern, we have modelled three scenarios across a period of 24 months. The scenarios include underperformance of retail sales revenue, fundraising voluntary income, inflationary increases on overheads and higher wages to keep pace with the rising cost of living. As there is little or no correlation between our income streams, the combined scenario is considered to be extremely unlikely. While the scenarios modelled would have a significant adverse impact on the charity’s finances, all scenarios demonstrate that we remain in a cash positive position for the foreseeable future.

104

Financial statements

We have also considered potential material uncertainty that could place significant doubt over the use of the going concern basis of accounting for a minimum period of 12 months from the date of approval of these accounts. To do this we have included an extreme fourth scenario which combines all three initial scenarios, and in doing so, we have applied reverse stress tests to identify pre-defined outcomes of the charity failing or becoming unviable, exploring hypothetical scenarios that could result in that outcome.

These scenarios include the most extreme ongoing reduction in fundraising and retail income, increases in pay and non-pay costs; with no mitigating action taken by management.

Based on our forecasts and the reverse stress testing scenario analysis, the trustees have not identified any material uncertainties that would place doubt relating to going concern, and therefore consider that the going concern basis of accounting is appropriate in the preparation of the accounts and that the charity is financially stable enough to continue to operate for the foreseeable future.

(d) Consolidated financial statements

Consolidated financial statements have been prepared in respect of Sue Ryder, its wholly owned trading subsidiaries, Sue Ryder Direct Limited and Sue Ryder Lottery Ltd.

(e) Restricted funds

In undertaking this review, we have identified a number of mitigating actions that would be available to us over and above those already modelled, including:

Restricted funds are those which are subject to specific conditions imposed by donors, grant making organisations or terms of appeal.

(f) Unrestricted General Fund

The General Fund is comprised of accumulated net income and expenditure in the Statement of Financial Activities after any transfers between funds.

(g) Designated funds

Designated funds are those which the trustees have assigned to a particular project or purpose.

(h) Income

All income is included when the charity is entitled to the income, the receipt of funds is probable and the amount can be reliably quantified.

Income for the provision of care services, principally from clinical commissioning groups and local authorities, is recorded on a receivable basis in respect of the services provided in the period in which the care is delivered.

105

Financial statements

Notes to the accounts (continued)

1 Accounting policies (continued)

Donations are shown as income on receipt, unless there is earlier evidence of entitlement and the amount can be measured reliably.

Legacy income is recognised when there is legal entitlement (from date of probate, or from receipt if earlier), receipt is probable (there are no material uncertainties on the estate), and the amount can be measured reliably (financial information in respect of the estate has been received). A 10% provision is made as an estimate to allow for legal costs and diminution in estate assets. Where legacies have been notified to the charity but these criteria are not fully met, the legacy is treated as a contingent asset and disclosed if material (see note 14).

Income received from grants is recognised when it was awarded and when the terms and conditions of any performance criteria linked to the grant award or stage payments have been met.

Income in the charity’s wholly owned subsidiaries is included under other trading income. Income is accounted for on an accruals basis. New goods income represents the value of new goods sold after trade discounts and net of value added tax.

Tax rebates under Gift Aid are accrued for in accordance with the appropriate Gift Aid rules.

Gifts donated for resale are included as income when they are sold. No amounts are included in the financial statements for services donated by volunteers.

Gift Aid income claimed under the UK retail Gift Aid scheme is estimated and accrued at the point of sale.

Interest receivable is accrued on a day-to-day basis, and other investment income is recognised on receipt.

(i) Expenditure

Costs are allocated to the cost of raising funds and charitable activities on the basis of direct allocation and apportionment of support costs, as detailed in note 8.

Costs of raising funds include fundraising, all retail and property trading activities and the costs of managing the investment portfolio.

Charitable activities include the costs of care provided, grants to the independent Sue Ryder charity in Albania and funding for research and service improvement.

Business rates relief is treated as an absent cost and the charge in the Statement of Financial Activities has been reduced for the period of the relief.

(j) Termination payments

Sue Ryder’s policy is to make redundancy payments in line with minimum statutory requirements unless the employee has protected rights from a previous employer. Termination payments are included when the decision to make the payment has been authorised.

(k) Tangible fixed assets

Tangible fixed assets are included in the financial statements at cost less depreciation, with the exception of freehold land which is held at deemed cost since the transitioning to FRS102 from 1 April 2014. Items with a value of £1,000 or more and with a useful life of more than one year are capitalised. Where assets are valued at less than £1,000 but form part of a group of assets (e.g. a computer network) which totals more than £1,000 they are capitalised.

Assets in the course of construction are included in the financial statements at cost of construction. They are depreciated once the asset becomes operational and moved into the category of freehold land and buildings.

All expenditure is accounted for on an accruals basis and grants are recognised when a constructive or actual obligation arises.

106

Financial statements

Where an asset comprises two or more major components, the components are reviewed and consideration is given to whether they have substantially different useful economic lives which should be depreciated separately.

Management undertake a review of useful economic lives where appropriate. Depreciation is provided to write off assets over their estimated useful lives at the following annual rates:

following annual rates:
Asset category Depreciation rate
Freehold land Not depreciated
Freehold buildings 2.5%–6.67% dependent
on the component
Over the lesser of the term
Leasehold buildings of the lease or the life of
the asset in its current use
Motor vehicles 10% of the original cost
Care centre fxtures 10%–25% of the
and fttings original cost
Retail shops fxtures
and fttings original cost		 25% of the original cost
Computer equipment 33.33% of the
original cost

Profits or losses on disposal of fixed assets are calculated as proceeds after any legal and other associated costs, less the net book value at time of disposal.

Freehold and leasehold properties transferring to assets held for resale are considered for impairment at the point the decision was made to dispose of the asset. An appropriate adjustment is made where the realisable value is lower than the carrying value.

Amortisation is calculated on a straight line basis at 33.3% of original cost per annum.

(m) Stocks – new goods for resale

Stocks on new goods are valued at the lower of cost or net realisable value, after making due allowance for obsolete and slow moving items, based on the principle of first in, first out.

It is not practical or appropriate to recognise donated goods for resale as stock on the balance sheet, on the grounds that the cost of obtaining stock information would outweigh the benefit.

(n) Pension costs

Defined contribution schemes are available to eligible employees with contributions payable by both Sue Ryder and the members. The contributions are charged to expenditure in the year they are payable to the scheme.

Sue Ryder contributes to defined benefit contributory pension schemes on behalf of certain former National Health Service employees

These contributions are fixed by reference to quinquennial valuations by the government actuary. The contributions are charged to expenditure on the basis of ensuring a level charge over the remaining service lives of employees. Information is not available to identify the surplus or deficit that relate to Sue Ryder, and as a result of this, the scheme is treated as a defined contribution scheme under the provisions of FRS 102.

(l) Intangible fixed assets

Computer software included in intangible assets represents the purchase of new computer software for use across the organisation.

107

Financial statements

Notes to the accounts (continued)

1 Accounting policies (continued)

(o) Value Added Tax (VAT)

Sue Ryder bears VAT to the extent that there is no recovery in respect of the care centres’ expenditure of a revenue or capital nature, other than that recoverable under Section 33D of the VAT Act 1994 as a Palliative Charity, and only partial recovery in respect of administrative expenditure. Irrecoverable VAT is allocated across the expenses that give rise to the tax.

The effect of any rent-free period or other lease incentives received is spread over the primary period of the lease.

Rent received under operating leases where substantially all of the benefits and risks of ownership remain with the lessee are recognised as income when due.

(r) Taxation

(p) Investments

Investments are stated at sale/bid value at the balance sheet date. Realised and unrealised gains and losses are recorded in the Statement of Financial Activities (SOFA).

(q) Leasing

Plant and machinery/fixtures and fittings

Rentals paid under operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to expenditure as incurred. Assets held under finance leases are capitalised on project completion and disclosed under tangible fixed assets at their net book value. The capital element of the future payments is treated as a liability and the interest is charged to the Statement of Financial Activities on a straight line basis.

Property

Rentals paid under operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to expenditure as incurred.

Property lease premiums are expensed over the lease period. This may include periods beyond the primary lease period, when it is reasonaly certain at lease inception that the extension clauses will be exercised.

The company is a Charity within the meaning of Part 1 of Schedule 6 to the Finance Act 2010. Accordingly the company is potentially exempt from taxation in respect of income or capital gains within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. No tax charge arose in the period.

The subsidiary companies make qualifying donations of all taxable profits to Sue Ryder under deed of covenant, keeping reserves in the subsidiary Sue Ryder Direct above an agreed level. No subsidiary corporation tax charges arise in the accounts.

No provision for deferred tax is made in the subsidiaries’ accounts, as in the view of the trustees, any tax charge in the subsidiaries will be minimal due to the arrangements to gift their taxable profits to the parent charity.

(s) Grant expenditure

Sue Ryder awarded a grant to support the work of a Sue Ryder organisation overseas. This is recognised when there is a valid expectation by the grantee that the amount will be paid.

108

Financial statements

(t) Foreign currency transactions

Sue Ryder accounts for foreign currency purchases at the rate prevailing at the time the currency is bought. All other transactions during the year are calculated using the previous month’s average rate. Assets and liabilities held in foreign currency at the balance sheet date are valued at the rate prevailing at that date. Differences on exchange are taken to the Statement of Financial Activities.

(u) Debtors and prepayments

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.

2 Accounting estimates and judgements

In preparing these financial statements within the accounting frameworks set out in Note 1(a), the trustees are required to adopt those accounting policies most appropriate to the charity’s circumstances with a view to presenting fairly the charity’s financial position. In determining and applying accounting policies, trustees make estimates and judgements, and the matters set out below are considered to be the most important in understanding the judgements that have been involved in preparing the financial statements and the uncertainties that could impact the amounts reported.

a) Legacy recognition and provision for solicitor fees

(v) Cash and cash equivalents

Cash and cash equivalents comprise bank balances and deposits held at call with banks available on demand. These are carried in the balance sheets at face value.

(w) 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 recognised at their settlement amount after allowing for any trade discounts due.

(x) Financial instruments

The charity has financial assets and 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.

Legacy income is recognised when there is legal entitlement (from date of probate, or from receipt if earlier), receipt is probable (there are no material uncertainties on the estate), and the amount can be measured reliably (financial information in respect of the estate has been received). A 10% provision is made as an estimate to allow for legal costs and diminution in estate assets. Where legacies have been notified to the charity but these criteria are not fully met, the legacy is treated as a contingent asset and disclosed if material (see note 13).

b) Retail and hospitality grants

Within deferred income there is a balance of £650k in relation to Retail, Hospitality and Leisure Grants received during the Covid-19 pandemic. The provision is in place as eligibility requirements to receive grants varied by local authority. Local authorities are undertaking reviews of grants issued. Until confirmation that all local authorities have concluded their reviews is received; or a period of seven years has elapsed, the charity will continue to carry the balance within deferred income.

109

Financial statements

Notes to the accounts (continued)

c) Provision for dilapidations

Dilapidation provisions are calculated using an average dilapidation cost per square foot for all properties vacated during the previous two years. The average cost is applied to the rateable value of all properties in the estate to calculate the expected liability at the end of the lease. The provision is recognised on a straight line basis over the life of the lease, and discounted back from the lease end date to the balance sheet date using a rate of 3%.

d) Provision for slow moving and obsolescent stock

Donated goods for resale is not recognised as stock on the balance sheet on the grounds that the cost of obtaining stock information would be outweighed by any benefit.

e) Discontinued operations – judgement

Following an in-depth review by the Board of Trustees and Executive Leadership Team in 2022, the decision was made to focus our strategic direction and growth on end-of-life and bereavement support; and to divest our neurological services. On 15 November 2023, Sue Ryder divested our neurological services in England, and is intending to divest the remaining neurological service based in Scotland in the near future. Notwithstanding neurological services in Scotland continuing to operate in the current period, the divestment is part of a single coordinated plan to dispose of neurological services as a whole. As a result, the trustees feel that it is appropriate to disclose all of the neurological services as discontinued operations in the Annual Report and Accounts for the financial year 2023–24.

110

Financial statements

3 Income from donations and legacies

3 Income from donations and legacies
Consolidated Charity
2023–24
£000s		 2022–23
£000s		 2023–24
£000s		 2022–23
£000s
Legacies 7,657 6,412 7,657 6,412
Donations and other voluntary income 8,879 8,089 8,879 8,089
Coronavirus Job Retention Scheme - (294) - (294)
Total 16,536 14,207 16,536 14,207

4 Income from charitable activities

4 Income from charitable activities
Consolidated Charity
2023–24
£000s		 2022–23
£000s		 2023–24
£000s		 2022–23
£000s
Provision of end-of-life care:
NHS and local authorities 13,898 13,399 13,898 13,399
NHS Covid-19 funding - 96 - 96
Private care 1 13 1 13
Other 832 1,149 832 1,149
14,731 14,657 14,731 14,657
Provision of long-term neurological care:
NHS and local authorities 16,327 20,280 16,327 20,280
NHS and local authorities Covid-19 funding - 197 - 197
Private care 425 494 425 494
Other 73 200 73 200
16,825 21,171 16,825 21,171
Homecare:
Local authorities and other commissioners - (2) - (2)
Other 2 18 2 18
2 16 2 16
Bereavement:
Other 8 - 8 -
8 - 8 -
Total 31,566 35,844 31,566 35,844

111

Financial statements

Notes to the accounts (continued)

5 Income from other trading activities

5 Income from other trading activities
Consolidated Charity
2023–24
£000s		 2022–23
£000s		 2023-24
£000s		 2022–23
£000s
Income
Fundraising events 157 126 157 126
Shop income from selling donated and bought in goods 62,473 58,922 61,395 56,773
Income from Sue Ryder Lottery 2,907 2,823 - -
Property letting and licensing 31 41 31 41
Total 65,568 61,912 61,583 56,940

6 Investment income

6 Investment income
Consolidated Charity
2023–24
£000s		 2022–23
£000s		 2023–24
£000s		 2022–23
£000s
Bank interest received 914 196 894 194
Total 2,193 196 2,173 194

7 Other income

7 Other income
Consolidated Charity
2023–24
£000s		 2022–23
£000s		 2023–24
£000s		 2022–23
£000s
Gain on disposal of fxed assets 1,452 - 1,452 -
Total 1,452 - 1,452 -

112

Financial statements

8 Expenditure

2023–24 Consolidated

Activities
undertaken
directly
£000s		 Grant funding
of activities
£000s		 Support costs
£000s		 Impairment
£000s		 Total
2023–24
£000s
Raising funds
Raising funds - fundraising costs 5,317 - 1,583 - 6,900
Raising funds - retail costs 43,410 - 10,354 - 53,764
Investment management costs 79 - - - 79
Total cost of raising funds 48,806 - 11,937 - 60,743
Charitable activities
End-of-life care 28,551 - 5,946 - 34,497
Long-term neurological care 18,477 - 3,599 3,753 25,829
Bereavement support 2,791 - 239 - 3,030
Homecare 2 - - - 2
Support for International - 80 - - 80
Total charitable activities 49,821 80 9,784 3,753 63,438
Total expenditure 98,627 80 21,721 3,753 124,181

2022–23 Consolidated

Activities
undertaken
directly
£000s		 Grant funding
of activities
£000s		 Support costs
£000s		 Impairment
£000s		 Total
2022–23
£000s
Raising funds
Raising funds - fundraising costs 5,001 - 1,083 - 6,084
Raising funds - retail costs 45,671 - 8,258 - 53,929
Investment management costs 70 - - - 70
Total cost of raising funds 50,742 - 9,341 - 60,083
Charitable activities
End-of-life care 26,635 - 3,671 - 30,306
Long-term neurological care 22,511 - 4,302 3,142 29,955
Bereavement support 2,407 - 219 - 2,626
Homecare 82 - 14 - 96
Support for International - 80 - - 80
Total charitable activities 51,635 80 8,206 3,142 63,063
Total expenditure 102,377 80 17,547 3,142 123,146

113

Financial statements

Notes to the accounts (continued)

8 Expenditure (continued)

2023–24 Charity

Activities
undertaken
directly
£000s		 Grant funding
of activities
£000s		 Support costs
£000s		 Impairment
£000s		 Total
2023–24
£000s
Raising funds
Raising funds - fundraising costs 4,972 - 1,583 - 6,555
Raising funds - retail costs 39,750 - 10,354 - 50,104
Investment management costs 79 - - 79
Total cost of raising funds 44,801 - 11,937 - 56,738
Charitable activities
End-of-life care 28,551 - 5,946 - 34,497
Long-term neurological care 18,477 - 3,599 3,753 25,829
Bereavement support 2,791 - 239 - 3,030
Homecare 2 - - - 2
Support for International - 80 - - 80
Total charitable activities 49,821 80 9,784 3,753 63,438
Total expenditure 94,622 80 21,721 3,753 120,176

2022–23 Charity

Activities
undertaken
directly
£000s		 Grant funding
of activities
£000s		 Support costs
£000s		 Impairment
£000s		 Total
2022–23
£000s
Raising funds
Raising funds - fundraising costs 4,678 - 1,083 - 5,761
Raising funds - retail costs 41,020 - 8,258 - 49,278
Investment management costs 70 - - - 70
Total cost of raising funds 45,768 - 9,341 - 55,109
Charitable activities
End-of-life care 26,635 - 3,671 - 30,306
Long-term neurological care 22,511 - 4,302 3,142 29,955
Bereavement support 2,407 - 219 - 2,626
Homecare 82 - 14 - 96
Support for International - 80 - - 80
Total charitable activities 51,635 80 8,206 3,142 63,063
Total expenditure 97,403 80 17,547 3,142 118,172

114

Financial statements

8 Expenditure (continued)

2023–24 Consolidated and Charity

Total
£000s		 Central
Management
and Admin
£000s		 Finance
and
Governance
£000s		 Human
Resources
£000s		 IT
£000s		 Legal and
Property
Services
£000s		 Marketing and
Communications
£000s
Activity
End-of-life care 5,946 815 1,274 1,140 1,310 658 749
Long-term neurological care 3,599 498 781 495 567 403 855
Bereavement support 239 48 75 36 41 39 -
Retail shops 10,354 1,139 1,781 1,547 1,775 919 3,193
Fundraising 1,583 144 225 116 133 116 849
Total support costs allocated
2023–24		 21,721 2,644 4,136 3,334 3,826 2,135 5,646

2022–23 Consolidated and Charity

Total
£000s		 Central
Management
and Admin
£000s		 Finance
and
Governance
£000s		 Human
Resources
£000s		 IT
£000s		 Legal and
Property
Services
£000s		 Marketing and
Communications
£000s
Activity £000s £000s £000s £000s £000s £000s £000s
End-of-life care 3,671 474 650 668 647 424 808
Long-term neurological care 4,302 565 773 965 934 504 561
Bereavement support 219 53 72 24 23 47 -
Homecare 14 2 1 4 4 2 1
Retail shops 8,258 995 1,361 1,393 1,349 887 2,273
Fundraising 1,083 103 141 93 90 92 564
Total support costs allocated
2022–23		 17,547 2,192 2,998 3,147 3,047 1,956 4,207

Included within Central Management and Administration costs are governance costs of £1,814,000 (2022–23: £802,000). These are detailed below:

2023-24
£000s		 2022–23
£000s
Governance
Staf costs 202 194
Auditors fees 106 105
Legal and professional fees 1,460 420
Meeting, travel and associated costs 21 62
Training costs 4 -
Other costs 21 21
Total 1,814 802
Support Service Allocation basis
Central Management and Administration Expenditure
Finance Expenditure
Human Resources Headcount
Legal and Property Expenditure
IT Services Headcount
Marketing and Communications Income

115

Financial statements

Notes to the accounts (continued)

8 Expenditure (continued)

Net (expenditure)/income is stated after charging:

Net (expenditure)/income is stated afer charging:
2023–24
£000s		 2022–23
restated
£000s
Depreciation (note 11) 1,939 2,424
Amortisation (note 12) 805 744
Proft on disposal of tangible fxed assets 1,452 -
Operating leases: 10,583 10,961
Land and buildings 10,253 10,498
Motor vehicles 330 199
Other 216 264
Auditors remuneration 114 110
Charity - RSM 92 85
Trading subsidiaries - RSM 22 20
Charity - BDO - 5
Other services 1,403 288
Tax compliance - RSM 11 10
Tax advisory - BDO 37 78
Strategic consultancy 1,355 200
Trustee indemnity insurance 9 8
Defned contribution pension costs (note 10) 2,452 2,403

9 International grant expenditure

An independent Sue Ryder charity operates in the country shown below. The organisation is independent of this charity but bears the name Sue Ryder.

Charity and consolidated

Charity and consolidated
2023–24
£000s		 2022–23
£000s
Grants awarded
Albania 80 80
Total grants 80 80

116

Financial statements

10 Staff costs

10 Staf costs
Consolidated
2023–24
£000s
2022–23
£000s		 Charity
2023–24
£000s
2022–23
£000s
2023–24
£000s		 2023–24
£000s
Wages and salaries 67,061 66,322 66,336 65,633
Social securitycosts 5,128 5,085 5,064 5,021
Pension costs 2,452 2,403 2,433 2,383
Total 74,641 73,810 73,833 73,037

Included within the consolidated wages and consolidated salaries figure above are the costs of £5,307,000 (2022–23: £5,854,000) for employing agency staff. No remuneration was paid to any trustee during the period (2022–23: Nil).

Included in wages and salaries are redundancy and termination payments made in the year of £455,000 (2022–23: £152,000). Of this £144,000 was outstanding as at 31 March 2024 (2022–23: £27,000). Sue Ryder’s policy is to make redundancy payments in line with minimum statutory requirements unless the employee has protected rights from a previous employer. No funding has been received for these payments.

During the year, higher paid employees comprised the following:

----- Start of picture text -----
Consolidated Charity
2023–24 2022–23 2023–24 2023–23
No. No. No. No.
£60,001 – £70,000 21 27 20 26
£70,001 – £80,000 12 7 11 6
£80,001 – £90,000 3 4 3 4
£90,001 – £100,000 4 3 4 3
£100,001 – £110,000 2 2 2 2
£110,001 – £120,000 1 - 1 -
£120,001 – £130,000 - 1 - 1
£130,001 – £140,000 3 1 3 1
£150,001 – £160,000 1 1 1 1
£160,001 – £170,000 1 - 1 -
----- End of picture text -----

The bandings exclude employers’ national insurance and employers pension. Contributions to pension schemes for these employees amounted to £204,000 (2022–23: £185,000). Included in the above figures are members of the Executive Leadership Team as follows:

2023–24
No.		 2022–23
No.
£80,001 – £90,000 1 2
£90,001 – £100,000 1 3
£100,001 – £110,000 2 2
£110,001 – £120,000 1 1
£120,001 – £130,000 3 1
£130,001 – £140,000 1 1
£150,001 – £160,000 1 -

117

Financial statements

Notes to the accounts (continued)

10 Staff costs (continued)

The bandings exclude employers’ national insurance and employers pension. Contributions to pension schemes for these employees amounted to £55,000 (2022–23: £60,000). The total remuneration for members of the Executive Leadership Team during the year, including Employers’ National Insurance and pension contributions, was £1,417,000 (2022–23: £1,289,000).

Remuneration of key management personnel, including employers’ national insurance and pension contributions were £343,000 (2022–23: £294,000). Key management personnel are defined as trustees and the roles of Chief Executive and the Chief Finance Officer.

No emoluments are payable to any trustee and only directly incurred travel expenses are reimbursed. During the year, travel expenses of £2,000 (2022–23: £1,000) were reimbursed to 6 trustees (2022–23: 5). The charity also incurred expenditure of £9,000 in respect of Trustees’ and Officers’ liability insurance for the period (2022–23: £8,000).The average number of employees during the period comprised the following:

Consolidated

Consolidated
Total number of employees
2022–23
No.		 Adjusted for full-time equivalent
2023–24
No.
2022–23
No.
2023–24
No.		 2023–24
No.
Care services 1,195 1,375 768 914
Bereavement support 26 20 21 16
Retail 1,131 1,154 777 795
Support services 308 262 285 245
Total 2,660 2,811 1,851 1,970

Charity

Total number of employees
2022–23
No.		 Adjusted for full-time equivalent
2023–24
No.
2022–23
No.		 Adjusted for full-time equivalent
2023–24
No.
2022–23
No.
2023–24
No.		 2023–24
No.
Care services 1,195 1,375 768 914
Bereavement support 26 20 21 16
Retail 1,108 1,131 754 774
Support services 308 262 285 245
Total 2,637 2,788 1,828 1,949

During the year the number of volunteers donating their services to the charity were:

Total number of volunteers
2023–24
No.
2022–23
No.		 Total number of volunteers
2023–24
No.
2022–23
No.		 Estimation of time donated
2022–23
hours 000
2023–24
No.		 2023–24
No.
Care services 1,059 862 101 104
Retail 10,728 10,366 1,417 1,356
Support services 1 6 - 1
Total 11,788 11,234 1,518 1,461

The calculation for volunteer hours for retail is based on actual recorded hours. For health and social care and support services volunteers, it is based on average hours pledged.

118

Financial statements

11 Tangible fixed assets

Consolidated

Consolidated
Leasehold
property
£’000s		 Freehold
property
£’000s		 Fixtures,
fttings and
equipment
restated
£’000s		 Motor
vehicles
£’000s		 Total
£’000s
Cost
At 1 April 2023 restated (note 23) 4,110 32,860 32,247 221 69,438
Additions - 784 2,537 - 3,321
Impairment - (4,718) (16) (8) (4,742)
Disposals (2,546) (10,839) (13,548) (119) (27,052)
At 31 March 2024 1,564 18,087 21,220 94 40,965
Depreciation
At 1 April 2023 restated (note 23) 3,692 7,103 29,560 181 40,536
Charge for theyear 35 758 1,137 9 1,939
Eliminated on disposal (2,200) (1,939) (13,086) (107) (17,332)
At 31 March 2024 1,527 5,922 17,611 83 25,143
NBV
At 31 March 2024 37 12,165 3,609 11 15,822
At 31 March 2023 418 25,757 2,687 40 28,902

119

Financial statements

Notes to the accounts (continued)

11 Tangible Fixed Assets (continued)

Charity

Charity
Leasehold
property
£’000s		 Freehold
property
£’000s		 Fixtures,
fttings and
equipment
restated
£’000s		 Motor
vehicles
£’000s		 Total
£’000s
Cost
At 1 April 2023 restated (note 23) 4,110 32,860 31,910 221 69,101
Additions - 784 2,537 - 3,321
Impairment - (4,718) (16) (8) (4,742)
Disposals (2,546) (10,839) (13,548) (119) (27,052)
At 31 March 2024 1,564 18,087 20,883 94 40,628
Depreciation
At 1 April 2023 restated (note 23) 3,692 7,103 29,223 181 40,199
Charge for theyear 35 757 1,141 9 1,942
Eliminated on disposal (2,200) (1,939) (13,089) (107) (17,335)
At 31 March 2024 1,527 5,921 17,275 83 24,806
NBV
At 31 March 2024 37 12,166 3,608 11 15,822
At 31 March 2023 418 25,757 2,687 40 28,902

Included in freehold properties is a value of £2,560,000 (2022–23: £2,560,000) relating to freehold land.

120

Financial statements

12 Intangible fixed assets

12 Intangible fxed assets
Computer sofware restated
£’000s
Cost
At 1 April 2023 (note 23) 6,535
Additions 1,235
Disposals (100)
At 31 March 2024 7,670
Amortisation
At 1 April 2023 (note 23) 4,705
Charge for theyear 805
Eliminated on disposal (100)
At 31 March 2024 5,410
NBV
At 31 March 2024 2,260
At 31 March 2023 (note 22) 1,830

13 Investments

Consolidated and charity
2023–24
£000s
2022–23
£000s		 Consolidated and charity
2023–24
£000s
2022–23
£000s
2023–24
£000s
Market value at 1 April 2023 12,495 11,130
Acquisitions at cost - 1,400
Unrealised investmentgains 1,631 35
Investment fees deducted from portfolio (79) (70)
Total funds invested 14,047 12,495

The investments are represented by:

The investments are represented by:
Consolidated and charity
2023–24
£000s
2022–23
£000s
2023–24
£000s
UK equities 931 1,005
Overseas equities 9,208 7,923
UK fxed interest andgilts 1,156 980
Overseas fxed interest andgilts 1,395 988
Others 1,129 1,005
Cash held for investment purposes 228 594
COIF Charityfunds - -
Total funds invested 14,047 12,495

121

Financial statements

Notes to the accounts (continued)

14 Debtors

Amounts falling due within one year

Consolidated
2023–24
£000s
2022–23
£000s		 Consolidated
2023–24
£000s
2022–23
£000s		 Charity
2023–24
£000s
2022–23
£000s		 Charity
2023–24
£000s
2022–23
£000s
2023–24
£000s		 2023–24
£000s
Amounts owed by group undertakings - - 1,419 627
Debtors for care services 389 3,065 389 3,065
Accrued income - legacies 5,737 6,010 5,737 6,010
Other debtors 5,846 5,419 5,774 5,300
Prepayments 2,808 2,503 2,764 2,466
Total debtors 14,780 16,997 16,083 17,468

In addition to the £5,737,000 (2022–23: £6,010,000) of legacy accrued income, there were 44 (2022–23: 36) legacies that have been notified to the charity in the year that have not been valued due to the uncertainty of the amount due. There were also 19 (2022–23: 24) reversionary legacies notified to the charity valued at £720,000 (2022–23: £1,000,000) which were not recognised in the financial statements due to life tenants.

15 Creditors: amounts falling due within one year

Consolidated
2023–24
£000s
2022–23
£000s		 Consolidated
2023–24
£000s
2022–23
£000s		 Charity
2023–24
£000s
2022–23
£000s		 Charity
2023–24
£000s
2022–23
£000s
2023–24
£000s		 2023–24
£000s
Trade creditors 3,579 4,220 3,378 3,952
Other creditors 964 498 964 498
Amounts payable under loans due - 171 - 171
Accruals 3,250 3,620 3,086 3,533
Deferred income 1,273 2,879 1,100 2,717
Other taxes and social security 1,078 1,251 1,078 1,251
Total creditors 10,144 12,639 9,606 12,122

Income is deferred where it has been invoiced or received in advance, and is for the provision of goods and services after the year end.

Movements in deferred income

Movements in deferred income
Consolidated
2023–24
£000s
2022–23
£000s		 Charity
2023–24
£000s
2022–23
£000s
2023–24
£000s		 2023–24
£000s
Openingbalance 2,879 1,441 2,717 1,304
Openingbalance released (2,879) (1,441) (2,717) (1,304)
Deferred in theyear 1,273 2,879 1,100 2,717
Movement (1,606) 1,438 (1,617) 1,413
Closing balance 1,273 2,879 1,100 2,717

122

Financial statements

16 Creditors: amounts falling due after one year

Consolidated
2023–24
£000s
2022–23
£000s		 Consolidated
2023–24
£000s
2022–23
£000s		 Charity
2023–24
£000s
2022–23
£000s		 Charity
2023–24
£000s
2022–23
£000s
2023–24
£000s		 2023–24
£000s
Amounts payable under loans due within two to fveyears - 1,031 - 1,031
Amounts payable under loans due in more than fveyears - 5,811 - 5,811
- 6,842 - 6,842

The charity has a bank loan that was repaid in full during the financial year. The balance at the end of the year of £Nil (2022–23: £7,012,000).

17 Provisions for liabilities

17 Provisions for liabilities
Consolidated
2023–24
£000s
2022–23
£000s		 Charity
2023–24
£000s
2022–23
£000s
2023–24
£000s		 2023–24
£000s
Provisions for propertydilapidations 3,576 5,542 3,576 5,042
3,576 5,542 3,576 5,042

Movements in provision for property dilapidations

Consolidated
2023–24
£000s
2022–23
£000s		 Consolidated
2023–24
£000s
2022–23
£000s		 Charity
2023–24
£000s
2022–23
£000s		 Charity
2023–24
£000s
2022–23
£000s
2023–24
£000s		 2023–24
£000s
Openingbalance 5,542 4,208 5,042 4,087
Changes duringtheyear (1,178) 1,429 (1,178) 1,050
Unused amount reversed duringtheyear (687) - (187) -
Dilapidations charged in theyear (101) (95) (101) (95)
Provision for property dilapidations 3,576 5,542 3,576 5,042

Dilapidations are provided for against the initial term of a property lease with the expectation that, should the lease not be extended, dilapidation costs will become payable after the termination of the lease, and after negotiations with the landlord have been concluded.

123

123

Financial statements

Notes to the accounts (continued)

18 Unrestricted funds

Consolidated – year ended 31 March 2024

Balance at
31 March
2023
£000s		 Income
£000s		 Expenditure
£000s		 Transferred
between
funds
£000s		 Transferred
from
restricted
£000s		 Unrealised
gains and
losses
£000s		 Loss on
revaluation
of fxed
assets
£000s		 Balance
at 31
March
2024
£000s
Unrestricted funds
Revaluation reserve 3,323 - - (1,854) - - - 1,469
General funds 55,890 78,242 (83,036) (2,702) 370 1,631 - 50,395
Subsidiary’s retained
funds		 13 7,582 (7,582) - - - - 13
Total continuing
unrestricted funds		 59,226 85,824 (90,618) (4,556) 370 1,631 - 51,877
Discontinued operations - 18,277 (21,843) 4,556 - - (990) -
Total unrestricted
funds		 59,226 104,101 (112,461) - 370 1,631 (990) 51,877

The transfer from the revaluation reserve is the depreciation charge applicable to revalued assets for the year to 31 March 2024. The transfer from restricted funds relates to expenditure against projects restricted in previous years for which service provision have now been fully met, and restricted capital projects which are now complete and fully spent.

Consolidated – year ended 31 March 2023

Balance at
31 March
2022
£000s		 Income
£000s		 Expenditure
£000s		 Transferred
between
funds
£000s		 Transferred
from
restricted
£000s		 Unrealised
gains and
losses
£000s		 Loss on
revaluation
of fxed
assets
£000s		 Balance
at 31
March
2023
£000s
Unrestricted funds
Revaluation reserve 3,365 - - (42) - - - 3,323
General funds 66,252 72,162 (79,404) (4,017) 862 35 - 55,890
Subsidiary’s retained
funds		 13 8,093 (8,093) - - - - 13
Total continuing
unrestricted funds		 69,630 80,255 (87,497) (4,059) 862 35 - 59,226
Discontinued operations - 21,171 (25,230) 4,059 - - - -
Total unrestricted
funds		 69,630 101,426 (112,727) - 862 35 - 59,226

124

Financial statements

Charity – year ended 31 March 2024

Balance at
31 March
2023
£000s		 Income
£000s		 Expenditure
£000s		 Transferred
between
funds
£000s		 Transferred
from
restricted
£000s		 Unrealised
gains and
losses
£000s		 Loss on
revaluation
of fxed
assets
£000s		 Balance
at 31
March
2024
£000s
Unrestricted funds
Revaluation reserve 3,323 - - (1,854) - - - 1,469
General funds 55,890 81,819 (86,613) (2,702) 370 1,631 - 50,395
Total continuing
unrestricted funds		 59,213 81,819 (86,613) (4,556) 370 1,631 - 51,864
Discontinued operations - 18,277 (21,843) 4,556 - - (990) -
Total unrestricted
funds		 59,213 100,096 (108,456) - 370 1,631 (990) 51,864

Charity – year ended 31 March 2023

Balance at
31 March
2022
£000s		 Income
£000s		 Expenditure
£000s		 Transferred
between
funds
£000s		 Transferred
from
restricted
£000s		 Unrealised
gains and
losses
£000s		 Loss on
revaluation
of fxed
assets
£000s		 Balance
at 31
March
2023
£000s
Unrestricted funds
Revaluation reserve 3,365 - - (42) - - - 3,323
General funds 66,252 75,281 (82,523) (4,017) 862 35 - 55,890
Total continuing
unrestricted funds		 69,617 75,281 (82,523) (4,059) 862 35 - 59,213
Discontinued operations - 21,171 (25,230) 4,059 - - - -
Total unrestricted
funds		 69,617 96,452 (107,753) - 862 35 - 59,213

125

Financial statements

Notes to the accounts (continued)

19 Restricted funds

The income funds of the group and charity include restricted funds comprising the following:

Year ended 31 March 2024

Year ended 31 March 2024
Balance at 31
March 2023
£000s		 Income
£000s		 Expenditure
£000s		 Transfers
(note 17)
£000s		 Balance at 31
March 2024
£000s
Funds held at care centres and centrally 289 11,807 (11,648) (126) 322
Patient rights training 30 (30) - - -
Scottish Government training 21 - (21) - -
Online communityexpansion - 4 (4) - -
Inequalities - 32 (32) - -
Bereavement - 5 (5) - -
Lancashire Neuro Centre Appeal 10 - (10) - -
Manorlands communityservices 244 117 - (244) 117
Totalgroup restricted funds 594 11,935 (11,720) (370) 439

The funds held at care centres and centrally of £322,000 (2022–23: £289,000) comprise funds received specifying the service the donation relates, with expenditure for the specific projects or centres.

Patient rights training and Scottish Government training comprise funds held to run training courses for specific outcomes.

Lancashire Neuro Centre Appeal is a fund used for income in relation to building Sue Ryder Neurological Care Centre Lancashire.

All works have now been completed. The balance at the end of the year was £Nil (2022–23: £10,000).

Manorlands community services is funding received during the year for running the community service. Balance of the fund at the end of the year was £117,000 (2022–23: £352,000).

Other small restricted grants received during the year included online community expansion, inequalities and bereavement, and were all spent during the year.

Transfers to unrestricted funds represent the release of capital appeals which have now completed. Final completion certificates were received during the year and final additions completed.

Transfers of funds held at centre level represent legacies and donations received which are restricted to a centre but have no other further restriction. An evaluation of the loss the centres have made in the year and an appropriate value released to cover the loss were appropriate.

Year ended 31 March 2023

Year ended 31 March 2023
Balance at 31
March 2022
£000s		 Income
£000s		 Expenditure
£000s		 Transfers
(note 17)
£000s		 Balance at 31
March 2023
£000s
Funds held at care centres and centrally 526 10,088 (9,999) (326) 289
Patient rights training 30 - - - 30
Scottish Government training 43 - (22) - 21
Dee View capital appeal 304 1 - (305) -
NHSE COVID-19 funding - 293 (293) - -
Lancashire Neuro Centre Appeal 236 (1) (105) (120) 10
Manorlands communityservices 3 352 - (111) 244
Totalgroup restricted funds 1,142 10,733 (10,419) (862) 594

126

Financial statements

Notes to the accounts (continued)

20 Analysis of net assets across funds

Consolidated

Fund balances at 31 March 2024 are represented by:

Unrestricted
funds
£000s		 Restricted
funds
£000s		 Total
£000s
Tangible fxed assets 15,822 - 15,822
Intangible fxed assets 2,260 - 2,260
Investments 14,047 - 14,047
Current assets 33,468 439 33,907
Current liabilities (10,144) - (10,144)
Long-term liabilities - - -
Provision for liabilities (3,576) - (3,576)
Total net assets 51,877 439 52,316

Consolidated

Fund balances at 31 March 2023 are represented by:

Unrestricted
funds restated
£000s		 Restricted
funds
£000s		 Total
restated
£000s
Tangible fxed assets 28,902 - 28,902
Intangible fxed assets 1,830 - 1,830
Investments 12,495 - 12,495
Current assets 41,022 594 41,616
Current liabilities (12,639) - (12,639)
Long-term liabilities (6,842) - (6,842)
Provision for liabilities (5,542) - (5,542)
Total net assets 59,226 594 59,820

127

Financial statements

20 Analysis of net assets across funds (continued)

Charity

Fund balances at 31 March 2024 are represented by:

Unrestricted
funds
£000s		 Restricted
funds
£000s		 Total
£000s
Tangible fxed assets 15,822 - 15,822
Intangible fxed assets 2,260 - 2,260
Investments 14,047 - 14,047
Current assets 32,917 439 33,356
Current liabilities (9,606) - (9,606)
Long-term liabilities - - -
Provision for liabilities (3,576) - (3,576)
Total net assets 51,864 439 52,303

Charity

Fund balances at 31 March 2023 are represented by:

Unrestricted
funds
restated
£000s		 Restricted
funds
£000s		 Total
restated
£000s
Tangible fxed assets 28,902 - 28,902
Freehold properties held for resale 1,830 - 1,830
Investments 12,495 - 12,495
Current assets 39,992 594 40,586
Current liabilities (12,122) - (12,122)
Long-term liabilities (6,842) - (6,842)
Provision for liabilities (5,042) - (5,042)
Total net assets 59,213 594 59,807

128

Financial statements

Notes to the accounts (continued)

21 Pension costs

(a) Defined contribution schemes of Sue Ryder

A defined contribution group pension scheme was introduced with effect from 1 December 1992, administered by Equitable Life. This scheme is now closed although some members have opted to leave their benefits with Equitable Life. Following the closure of the Equitable Life scheme in October 2001, personal pension plan facilities were arranged with pension providers, currently Royal London, into which the charity pays matched contributions up to a maximum of 5% of pensionable pay for eligible employees who choose to join. From 1 August 2013, eligible Sue Ryder staff not already enrolled in a pension scheme were automatically enrolled into The People’s Pension provided by B&CE. The charity pays a matched contribution into the scheme in accordance with the auto-enrolment requirements.

(b) National Health Service pension scheme

Sue Ryder also contributes to a defined benefit contributory pension scheme on behalf of certain former National Health Service employees. These contributions are fixed by reference to quinquennial valuations by the government actuary which is currently 14.38% (2022–23: 14.38%) of earnings. The latest available report relates to the period ending 31 March 2020. It is not possible to identify the surplus or deficit that relates to Sue Ryder and therefore this scheme is treated as a defined contribution scheme under FRS 102, with costs recognised in accordance with contributions payable.

22 Lease obligations

Operating leases:

Consolidated
31 March
2024
£000s
31 March
2023
£000s		 Consolidated
31 March
2024
£000s
31 March
2023
£000s		 Charity
31 March
2024
£000s
31 March
2023
£000s		 Charity
31 March
2024
£000s
31 March
2023
£000s
31 March
2024
£000s		 31 March
2024
£000s
Land and buildings
Total minimum commitments which expire:
Within oneyear 7,428 9,355 7,036 9,145
In the second to ffhyears inclusive 16,267 15,734 14,912 15,611
Afer more than fveyears 8,215 3,804 6,323 3,804
Total minimum commitment 31,910 28,893 28,271 28,560
Other
Total minimum commitments due:
Within oneyear 438 262 413 233
In the second to ffhyears inclusive 974 557 969 526
Afer more than fveyears 22 53 22 53
Total minimum commitment 1,434 872 1,404 812
Total 33,344 29,765 29,675 29,372

129

Financial statements

23 Prior year adjustments

Discontinued operations

Following the divestment of our neurological services in England and our intention to divest the remaining neurological service based in Scotland, the prior year statement of financial activities (consolidated and for the charity) has been restated to show the neurological operations as discontinued for comparative purposes.

Fixtures and Fittings NBV restatement

Computer software costs were included in tangible fixed assets in prior years. In line with FRS102 and Charity SORP computer software is now shown as an intangible fixed asset and has been restated in the prior year. The table below details the impact of the adjustment on tangible fixed assets.

tangible fxed assets.
Consolidated
£000s		 Charity
£000s
Closingfxtures and fttings NBV 31 March 2022 (as previouslystated) 4,517 4,517
Reclassifycomputer sofware to intangible fxed assets (1,830) (1,830)
Restated closing fxtures and fttings NBV 31 March 2022 2,687 2,687

24 Related party disclosures

There is one independent charity operating in another country which share the main objectives of Sue Ryder. The charity awards grants to these entities as shown in note 9.

The Financial Statements of the Group consolidate the results of its 100% subsidiary companies, Sue Ryder Direct Limited, Sue Ryder Lottery Ltd.

2023–24
£000s		 2022–23
£000s
The following amounts are due to the charity from its subsidiary undertakings:
Sue Ryder Direct Limited 675 387
Sue Ryder LotteryLimited 744 240
During the year the following transactions took place between the charity and its subsidiary
undertakings:
The transfer under Gif Aid of the tradingprofts of Sue Ryder Direct Limited 697 48
The transfer under Gif Aid of the tradingprofts of Sue Ryder LotteryLimited 2,583 2,498
The recharge of costs associated to the use of the charity’s shops for tradingbySue Ryder Direct Limited 306 318
Commission charged to the charitybySue Ryder Direct Limited as agent in regards the Retail Gif Aid scheme 396 379

All transaction that occurred during the year between the charity and its subsidiary undertakings were at arms length.

130

Financial statements

Notes to the accounts (continued)

25 Cash flows from operating activities net cash provided by operating activities

operating activities
Consolidated
2023–24
£000s
2022–23
restated
£000s		 Charity
2023–24
£000s
2022–23
restated
£000s
2023–24
£000s		 2023–24
£000s
Net (expenditure) for the reporting period as per
the Statement of Financial Activities:		 (7,504) (10,952) (7,504) (10,952)
Add back depreciation (note 11) 1,939 2,424 1,939 2,424
Add back amortisation (note 12) 805 744 805 744
Add back revaluation of neurological properties 4,742 3,142 4,742 3,142
Deduct proft on the sale of tangible fxed assets (1,452) - (1,452) -
Add back release of provision for dilapidations 173 173
Loan interest paid 344 311 344 311
Investment fees deducted from portfolios 79 70 79 70
Investment income received (914) (196) (894) (194)
Unrealised (gain) on investment assets (1,631) (35) (1,631) (35)
Decrease in stocks 150 406 - 21
Decrease/(increase) in debtors 2,217 (155) 1,385 762
(Decrease)/Increase in creditors (2,325) 2,334 (2,346) 2,325
(Decrease)/Increase in provisions for liabilities (1,966) 1,436 (1,466) 955
Net cash (outfow) provided by operating activities (5,343) (471) (5,826) (427)

131

Financial statements

26 Net Income from trading activities of subsidiaries

Sue Ryder has two wholly owned subsidiaries which are incorporated in the UK. The principal activities of the subsidiary Sue Ryder Direct Limited are the sale of new goods and the running of the donated goods Gift Aid scheme. The principal activity of the subsidiary Sue Ryder Lottery Limited is the running of the Sue Ryder Lottery and it holds the Sue Ryder gambling licence.

The results for the current and prior year were:

The results for the current and prior year were:
Sue Ryder
Direct Ltd		 Sue Ryder
Direct Ltd		 Sue Ryder
LotteryLtd		 Sue Ryder
LotteryLtd
Companynumber 00889743 00889743 09479300 09479300
2023–24
£000s		 2022–23
£000s		 2023–24
£000s		 2022–23
£000s
Turnover 4,675 5,270 2,907 2,821
Cost of sales (2,614) (2,737) (328) (310)
Gross proft 2,061 2,533 2,579 2,511
Other expenses (1,364) (2,229) (16) (15)
Proft on ordinary activities before tax 697 304 2,563 2,496
Interest received - - 20 2
Tax on proft on ordinaryactivities - - - -
Proft on ordinary activities afer tax 697 304 2,583 2,498
Qualifyingcharitable donation (697) (304) (2,583) (2,498)
Retained proft for the period - - - -
Tangible fxed assets - - - -
Net current assets 13 13 - -
Total net assets 13 13 - -
Share capital - - - -
Proft and loss account 13 13 - -
Shareholder's funds 13 13 - -

132

Charlie

Thank you 135.

Thank you

Recognition of our wonderful supporters

Every single donor and donation makes a difference to Sue Ryder and we would like to thank everyone who has made our work possible this year. We cannot name everyone, but we would like to recognise the following donors for their significant support.

Trusts and Foundations:

Organisations:

Individuals:

137

There when it matters

Sue Ryder is here to make sure everyone approaching the end of their life or living with grief can access the support they need. There is no one size fits all when it comes to how we cope and the help we need, but with our support, no one has to face dying or grief alone. We are there when it matters.

For more information about Sue Ryder

call: 0808 164 4572 email: info@sueryder.org visit: sueryder.org

/SueRyderNational @suerydercharity

Sue Ryder, 183 Eversholt Street, London NW1 1BU

This document is available in alternative formats on request.

Sue Ryder is a charity registered in England and Wales (1052076) and in Scotland (SC039578). Ref. 07842. © Sue Ryder. July 2024