OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

Registered number: 03166056 Charity number: 1053814

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 15
Independent auditors' report on the financial statements 16 - 20
Consolidated statement of financial activities 21
Consolidated balance sheet 22
Charity balance sheet 23
Consolidated statement of cash flows 24
Notes to the financial statements 25 - 60

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022

Mr A J M Maltby, Chairman
Mr P J Banton, Trustee (Resigned 27 October 2021)
Dr D A R Boldy, Trustee (Resigned 4 November 2021)
Mr S J Elkington, Trustee
Mr C P Hoskins, Trustee
Mrs S Knight, Trustee
Mrs A Legate, Treasurer
Mr D Libiszewski, Trustee
Mr J H Wadsworth, Trustee (Appointed 17 June 2021)
Miss H Jackson, Trustee (Appointed 17 June 2021)
Mr D A Cross, Trustee (Appointed 1 September 2021)
Mr N C Hepburn (Appointed 21 October 2021)
Company registered
number
03166056
Charity registered
number
1053814
Registered office
36 Nettleham Road
Lincoln
Lincolnshire
LN2 1RE
Company secretary
A J M Maltby
Chief executive officer
Mr Chris Wheway
Independent auditors
Duncan & Toplis Limited
Statutory Auditor
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR
Bankers
National Westminster Bank plc
225 High Street
Lincoln
LN2 1AZ
Solicitors
Chattertons Solicitors
1 Flavian Road
Nettleham Road
Lincoln
Lincolnshire
LN2 4GR
Investment Managers
Quilter Cheviot
St Helen's
1 Undershaft
London
EC3A 8BB

Page 1

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their annual report together with the audited financial statements of the Charity for the 1 April 2021 to 31 March 2022. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

On behalf of the Board of Trustees and the Executive Team, it gives me great pleasure to present the annual Trustee Report for the Hospice. This Account summarises the progress we have made during 2021-2022, as well as setting out our priorities for the coming year.

It goes without saying that the past 12 months have remained challenging, but in some respects, it has been energising as the Hospice has remained responsive and delivered innovation, improvement to our Estate and commitment to ensure the continuity of our services for our patients and families across the County.

Everyone at St Barnabas has demonstrated remarkable resilience and as we emerge from the Covid 19 pandemic I am confident that the Hospice will continue to provide outstanding and responsive care to all that require our support.

My role as chairman is to ensure that the Board of Trustees have all the necessary information available to provide them with confidence that the Executive team can deliver our strategic objectives.

We are all fully satisfied with the transparency and inclusivity of the breadth of reporting to Trustees. This provides the Board with the knowledge and evidence that this is a well led and outstanding organisation that firmly has the interests of patients, families, the public and staff as a priority.

The breath and scope of the priorities we have committed to deliver for the 2022/2023 fiscal year continues to innovate and evolve so that hospice care is accessible to more people in our communities across Lincolnshire, a firm commitment of St Barnabas.

Our dedication to continue to deliver outstanding Hospice care remains is unwavering. On behalf of the Board, I would like to extend our utmost gratitude to all the supporters, volunteers, staff, and everyone involved with St Barnabas whose passion and commitment enables the Trust to continue to deliver the very best in End-of-Life Care.

Page 2

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Objectives and activities

Objectives and aims

Our Vision, Mission and Values provide the foundation of our organisational strategy, direction and guidance in delivering our goals. They were developed by and belong to our most important asset, our people and define our aspirations, purpose and the core beliefs.

Our Vision is a world where dying with dignity, compassion and having choices is a fundamental part of life.

Our Mission is to ensure all individuals facing the end of their life in Lincolnshire receive dignified, compassionate care when they require it and where they ask for it.

Our Values

To achieve this vision, St Barnabas Hospice Trust (Lincolnshire) operates as a partner and as an integral member of the health and social care community. Through the development of partnerships with colleagues in other agencies and establishing networks both locally and nationally we seek to enhance the development of services throughout Lincolnshire.

Public benefit

Services provided by St Barnabas Hospice Trust (Lincolnshire) are for the benefit of patients with a terminal illness who are resident in Lincolnshire. Our teams will support families and carers, both during the patients' illness and in bereavement, irrespective of whether the patient themselves received care from our teams. The charity also aims to advocate for and influence the wider development of palliative care services and through this, aims to ensure that the benefits of our service, knowledge, experience and skills are extended to the wider population.

The trustees consider that they have complied with their duties under the Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission.

Page 3

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Objectives and activities (continued)

Volunteers

The Trust benefits from the support of its volunteers and typically over 1,000 volunteers provide invaluable service to our clinical, wellbeing, fundraising and shops teams. During 2021/2022, our volunteers donated an estimated 63,465 hours (2021: 21,427) of their time to the hospice, which at the minimum wage and on-costs such as employer national insurance, equates to a donation of £618,364 (2021: £219,200).

Our people are our most important resource and ensuring we recruit and retain a workforce with the right skills is crucial to ensure we continue to deliver high quality specialist palliative care. Our Workforce Strategy focuses on engagement and appropriate and affordable reward, recognition and development which has been recognised through an external staff engagement accreditation award, revised recruitment procedures, a reward and recognition programme and an appraisal and increment process that is focused on performance, values and results.

Page 4

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Strategic report

Achievements and performance

Charitable activities

Over the year, St Barnabas Hospice Trust (Lincolnshire) continued to provide a full range of services to patients throughout Lincolnshire, despite the restrictions imposed through the pandemic. The implementation of more stringent infection control procedures, including the temporary closure of our Wellbeing centre, did limit our ability to provide some of our usual services. We responded by seeing more patients in their own homes and using technology to continue to care for our patients. The following provides a summary of activity over the last twelve months:

2020/21 2021/22
Palliative Care Co-ordination Centre 2,948 2,884
New Patient Referrals 93,361 112,248
Calls handled
In-Patient Unit 195 201
Total Admissions 58% 86%
Unit Occupancy (%) 11.5 10.3
Average Length of Stay (Days)
Allied Health Professionals
Occupational Therapy 1,067 1,050
Physiotherapy 633 596
Community Nursing
Number of Patients 2,586 2,547
Average Length of Care (Days) 35.9 51.3
Specialist Palliative Care - Other
Outpatients 49 109
In Reach 28 68
Advice/Consultation 454 537
Community Clinical Nurse Specialists 334 265
Specialist Nurse Practitioners 81 95
Family Support Services
Number of clients 701 772
Welfare
Number of clients 4,202 4,752
Estimate of client benefits obtained £8,798,589 £8,605,651
Hospice in the Hospital
Number of Admissions 89 134
Occupancy (%) 49% 68%
Average Length of Stay (Days) 12.4 11.6

Page 5

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Strategic report (continued)

Achievements and performance (continued)

Clinical Achievments during 2021/22

The Trust identified five clinical priorities for improvement during 2021-2022

  1. Embedding spiritual care within specialist palliative MDT process

  2. Palliative Rehabilitation - responding to the needs of our pateints and staff post COVID 19 3. Care after death

  3. To enhance the efficiency of medicines management activity at the Inpatient unit and release registered nurses time to care.

  4. Raising the profile of equality and diversity across hospice services.

Embedding spiritual care within specialist palliative MDT process

Specialist palliative care Multidisciplincary Team meetings (MDT) take place weekly across the County. Their aim is to bring multi-professionals together to improve outcomes for complex patients. Spiritual care now forms an intergral part of the discussion - the MDT tempalte used internally is structured across the four pillars of wellbeing and makes explicit reference to spiritual care. Prompts for staff are outlined in figure 1. Where there are indications the patient may be experiencing a higher level of spiritual distress (column 4) the support of spiritual care champions, community and/or Inpatient chaplaincy is sought.

Spiritual champions, under the guidance and supervision of the Inpatient and Community Chaplains deliver spiritual support to patients and to staff in clinical teams. The first away day dedicated to the wellbeing of the champions, and in recognition of their contribution took place in November 2021. Spiritual champions benefitted from a day of education and spiritual reflection which was positively received and evaluated by all delegates. Two dates have been agreed for 2022. In addition, champions were given ‘Spiritual Care Badges’ which they had designed themselves to wear on lanyards. This further identifies their role to patients and has proved valuable in opening conversations.

Spiritual champions complete contact sheets which enable the service to understand the nature of support, ranging from pastoral, religious and spiritual. Spiritual Champions report helping patients to find peace with palliative diagnosis, supporting conversations about faith, helping patients and families to find value, and meaning in life, and enabling making plans for death. Supervision is provided by the Chaplains on a 121 and group basis.

Page 6

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Strategic report (continued)

Achievements and performance (continued)

Palliative Rehabilitation - responding to the needs of our patients and staff post COVID 19

Allied Health Professionals (AHPs) have developed a competency document to support Hospice Health Rehabilitation Support Workers (HRSWs) undertake a supportive role to the team’s meeting rehabilitation and reablement goals with patients.

The key principles are:

Training has been completed with the physiotherapy competencies and the occupational therapy competencies are completed with further training planned for the 2022. With the planned reopening of the wellbeing hubs our Allied Health Professionals will have an active and leading role in providing 1:1 sessions that are patient goal specific; overseeing, managing maintaining competencies to the Tai Chi and relaxation sessions that will predominantly be delivered in groups by Health and Rehabilitation Support Workers.

As a team the AHP’s are progressing and integrating more cohesively within the wider St Barnabas services, working actively with the Clinical Services Managers to facilitate triage and assessment within the MDT. There are plans to develop and strengthen links with the wider community therapy teams, and possibility of robust pathways such as with the oncology wards and the Primary Care Networks.

Care after death

Both the Inpatient and Community Chaplains are involved in creating reflective spaces/resources in bases across the County. Resources have been purchased which reflect the needs of specific faith groups, e.g., prayer mats, compasses, crosses, bibles, and other non-faith resources to create a quiet reflective space which may be used for staff and for patients as required, and as a place where chaplains and champions can work more intensively on an individual basis. The spaces will be known as ‘The Sanctuary’. Progress has been impacted by the need to open Covid-safe buildings, however final preparations are being completed for the opening of Sanctuaries in Lincoln (which will be post IPU refurbishment) and in Boston at Novak House, the ambition is for all the Hospice buildings to have a Sanctuary space for quiet reflection for all.

An updated booklet pertaining to essential information and frequently asked questions immediately after the death of a loved one, has been developed in partnership with spiritual care and wellbeing teams.

As part of the Medical Examiner pilot scheme – the hospice will receive family/carer feedback which will be used to enhance the understanding of family’s experience of hospice services at the time of death. In addition to this the Hospice is part of the Lincolnshire system work to encouraged bereaved relatives and carers to complete the Voices survey 2022 looking at experiences of caring for someone who has died. Feedback will be system wide and key plans developed from this.

Page 7

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Strategic report (continued)

Achievements and performance (continued)

To enhance the efficiency of medicines management activity at the Inpatient unit and release registered nurses time to care

The final phase of the project has now reached its conclusion. Training for the remaining staff, eligible to take part in the Single Nurse Administration of Drugs’ (SNAD) project has been completed over the last quarter of 2021-22. There are now 13 staff in total who can administer CD’s singly, working within the parameters of the adopted amendments to policy. The changes are now embedded within the unit and feedback from those undertaking it remain positive, with reported increased autonomy and job satisfaction. For colleagues not currently undertaking SNAD’s, their responses have also been encouraging; they have reported benefits regarding maintenance of responsiveness to patient need and have confirmed that they are still very much involved in clinical conversations regarding symptom management which continues to support their learning.

Monitoring of medication incidents continues via the Datix system and, thus far, the reduction noted over previous quarters has been sustained.

Raising the profile of equality and diversity across hospice services

During the year the work of the Equality Diversity and Inclusion (ED&I) forum has continued. Diversity issues continued to be raised through the multidisciplinary team meetings and ED&I is now included as a standing agenda item at monthly clinical governance meetings. Our increasing knowledge and experience in this area is influencing discussions at strategic level though the Palliative and End of Life Care Strategy group, ensuring EDI is reflected in the Lincolnshire palliative and end of life care Principles Document.

Feedback (via feedback survey) was received from staff and volunteers who attended. Overall, it was positive and demonstrated that the people who attended had learned from the resource and it had allowed people to reflect on their working practices.

People Development

The Trust continues to remain focused on the wellbeing of our staff and volunteers. During the year the Trust was ranked on the national b-Heard Best Companies list

Page 8

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Strategic report (continued)

Achievements and performance (continued)

Fundraising

2021/22 was another challenging year for fundraising because at the start of the financial year covid restrictions remained in force meaning we couldn’t host events or gather supporters for the first half of the year. The fundraising team did continue to develop innovative ways in which to engage with supporters and raise funds for the Trust. During the year, 5537 supporters donated to the Hospice for the first time.

Further developments were made to our digital marketing and website to make the best of the donor experience, especially for our annual Light up a Life Campaign which was linked to our first physical since November 2019 with the emotive Torchlight Procession. Over 1,100 people came together to remember their loved ones and tied messages of love to the Tree of Life outside Lincoln Cathedral. We also launched a mini capital appeal to secure funds for the new Boston Wellbeing Centre which secured over £90k from a public appeal and further £140k from Grants and Trusts.

Successful campaigns included:

Retail

Following a consultant-led review, St Barnabas Shops Ltd undertook a significant restructure of its operating model during 2021-22. The focus of the restructure was to adopt a ‘Back to Basics’ approach with the aim of reducing central overhead costs, increasing gross profit percentage, increasing Gift Aid income, and encouraging individual shops to become more self-sufficient. The change of approach meant that there was no longer a need for a centralised warehouse facility but rather than closing the unit, it was reinvented as ‘The Warehouse’, St Barnabas’s first 5,000 square foot retail superstore, which opened its doors in February 2022.

Trustees also reviewed the governance structure of the St Barnabas Hospice Trust (Lincolnshire) group and determined that for reasons of operational efficiency, the assets, and liabilities of St Barnabas Shops Ltd will be hived up into the St Barnabas Hospice Trust (Lincolnshire) charity. The hive-up occurred on the 1st of April 2022 and following this, St Barnabas Shops Limited will be dissolved.

Page 9

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Strategic report (continued)

Achievements and performance (continued)

Trust Estate

During the year the Trust completed the development of a new £1.0m Wellbeing Centre in Boston. Comprising of a clinical office, three therapy rooms, patient lounge, multipurpose room, meeting room, healing garden, reception and kitchen, the new Wellbeing centre offers physiotherapy, counselling, relaxation, group sessions and office space for St Barnabas community and fundraising teams.

Following a fire strategy review at the inpatient unit (IPU) on Nettleham Rd, Lincoln, the Trust has committed to undertaking significant fire compartmentation and refurbishment works at the start of the 2022-23 fiscal year. The full cost of the project is expected to be in the region of £1.200m and will be funded from the surplus generated in the 2021-2022 fiscal year.

Construction works commenced in June 2022 and the project is expected to complete in November 2022. During the period of refurbishment, the inpatient unit will be closed to both staff and patients. Trust clinical staff working at the IPU have been temporarily redeployed into our community teams or seconded to other NHS organisations with the Lincolnshire healthcare community.

Financial review

Financial position

During 2021-22 the Trust posted a surplus net movement of funds of £1.726m (2021: £1.139m surplus) including a gain on the investment portfolio of £0.414m and disposal of Boston Green Lane site . Excluding the gain on the investment portfolio, the Trust posted a surplus of £1.150m (2021: £0.210m). Income from all sources amounted to £13.631m (2021: £12.865m) of which 53% (2021: 61%) was generated through NHS contracts and NHSE funding, and 47% through fundraising, donation and investing activities. Expenditure for the same period was £12.319m (2021: £12.655m).

During the year, NHSE awarded funding to allow the hospice to make available bed capacity and community support from December 2021 to March 2022 to provide support to people with complex needs in the context of the COVID-19 situation. The total value of the support given amounted to £1.268m.

Performance of Subsidiaries

During the year St Barnabas Shops Ltd donated £0.183m (2021: £0.070m) to the Trust and St Barnabas Promotions Ltd donated £0.438mm (2021: £0.438m) to the Trust.

Financial Outlook

The high UK inflation rate caused principally by war in Ukraine and the delayed impact of Brexit, is fuelling the current cost-of-living crisis and negatively affecting individual and corporate disposable incomes whilst adding cost pressures. The Trust is expecting a difficult fiscal environment in 2022-2023 with a forecast deficit of £0.941m

Page 10

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Reserves Policy

Each year the Board of Trustees reviews the level of reserves required to cover key financial and operational risks faced by the Trust and to support the five-year clinical strategy. Given the large, fixed infrastructure coupled with the current economic and political uncertainty in the local health sector, the Board of Trustees consider that it is necessary to adopt a prudent approach to reserves management by holding a combination of cash and short-term assets to fund at least six months’ running costs.

The general reserves are drawn from unrestricted funds, excluding funds designated for future capital projects, legally restricted funds, funds already invested in tangible fixed assets, and a designated investment fund that provides the Trust with an invaluable source of revenue income that supports the everyday running costs of the hospice. The Trust achieved the reserves objective in 2021/22 and plans to maintain this level of return in the medium term. St Barnabas has a phased plan for the use of these designated funds which may change at any time at the discretion of the Board based on the needs of the charity.

The consolidated accumulated funds on 31 March 2022 amounted to £20.228m (2021: £18.477m), of which restricted funds were £2.215m (2021: £2.052m). The current level of unrestricted reserves is £18.014m, of which £3.840m represents the fixed assets of the Charity, £1.700m is designated for future capital improvements including the development of a new inpatient unit, investment fund of £7.887m, revaluation reserve of £0.195m and £4.391m in a general revenue reserve.

Investment policy and objectives

As part of its ongoing risk and reserves assessment the Charity has appointed Quilter Cheviot to provide discretionary investment management. At the end of the year the funds invested were valued at £7.770m (2020: £6.662m).

The board has an agreed statement of investment principles. The objective is to provide sufficient income to help support the Trust’s objectives whilst maintaining the real value of assets over the long term using a combination of equities, fixed income stocks, cash and alternative investments.

During the 2020/21 year the Trust earned £307,186 of income from its managed investment portfolio arising from dividends, interest received and realised gains from equity disposals.

In addition to the investment:

The trustees keep under review the diversification of the funds held by way of reserves.

Page 11

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Structure, Governance and Management

The Charity was created by trust deed as a registered charity (number 1053814) and is a company limited by guarantee (number 03166056). The charitable company is governed by its Memorandum and Articles of Association.

The charitable company is registered in the name of St Barnabas Hospice Trust (Lincolnshire). The Charity's principal and registered office is 36 Nettleham Road, Lincoln, LN2 1RE.

The Trust is governed by a Board of Trustees who meet at least six times a year to ensyre the strategic leadership and governance of the Charity.

Trustee Recruitment

At the end of the fiscal year there were eight trustees serving on the Trust Board recruited through advertisement and/or personal recommendation. The membership of the Board is drawn from two main areas, clinical and business. We continue to recruit trustees from across the county to extend our local representation. Applicants with general life experience are encouraged to apply for trustee vacancies to ensure that services delivered by the Trust remain focused on the needs of the users of our services, namely patients and carers. At any one time the Board includes at least one trustee from the following professional backgrounds; Medical, Nursing, Legal and at least one trustee with experience of the management of finance and application of Information Technology (IT).

The Trust Board is supported in its role of strategic leadership by three committees; the Income Generation Committee, Resources Committee and Patient Care Committee. The committees were established to ensure effective performance and risk management of the Trust’s business. These committees review data and additional information that might affect the Trust’s strategic plan or indicate an increased risk to existing plans and services. .

Executive

The day to day management of the Trust is the responsibility of the Chief Executive and the Executive Team. The Executive Team is responsible for the implementation of the Trust’s business plan and, in this capacity, is responsible for budgetary control, production and implementation of operational policies, resources management and compliance with governance arrangements.

Key management remuneration

The Trust Board considers the performance of the Chief Executive and Executive Management Team through an annual appraisal. Executive remuneration is set annually by the Remuneration Committee which consists of the trustees.

Page 12

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Structure, Governance and Management (continued)

Subsidiary Companies

During 2021/2022 the trust wholly owned two subsidiary companies: St Barnabas Shops Limited and St Barnabas Promotions Limited. The two companies were established to assist in the funding of the Charity with profits gift-aided annually. Both companies are limited companies and have their own board of directors, consisting of Trustees on the Charity’s Trust Board and the Chief Executive Officer.

During 2021/2022, the Trust Board approved a proposal to increase operational efficiency by hiving the assets of St Barnabas Shops Limited into St Barnabas Hospice Trust (Lincolnshire). This process commenced at the beginning of 2022 and will complete during the 2022/23 fiscal year.

Risk Management

The Trust Board acknowledges that it operates in a complex and ever-changing environment and is subject to a range of risks. During 2021/22 the Trust continued to operate under an integrated governance framework which supported the ongoing review of assessed risks. The Trust manages its principal risks and uncertainties through regular review of the Board Assurance Framework at Trust committee meetings, documenting the nature of each corporate risk and the action plan to address them.

During 2021/22, the Trust operated a policy that at least 40% of free reserves would be held in short term liquid assets, including funds invested in the stock market by our appointed investment manager, Quilter Cheviot. The investment portfolio consists of a mix of bonds and gilts, domestic and overseas equities, and property funds.

The Trust’s business plan reviews forecast income against likely expenditure, prioritises areas of future investment in line with key organisational objectives and identifies contingency plans to address risks associated with future income streams. During 2021/2022 services commissioned by the NHS are managed through the Lincolnshire Clinical Commissioning group.

The Trust recognises that the ongoing investment in its IT infrastructure is of paramount importance both in terms of healthcare management of individual patients but also to enable deployment of efficient business management of services and resources. The Trust continues to invest in its IMT infrastructure in support of the stated strategic objectives through enabling more remote and mobile working to in-reach across the whole of the county. The IMT investment program will continue into 2022/2023 with the deployment of both clinical and non-clinical software systems to improve efficiency and help meet the demand of doing more with less resource.

Human Resources

Staff retention and recruitment remains a key risk to the organisation, potentially affecting the ability to ensure delivery of services to patients. To address this risk the Trust has an active recruitment policy, succession planning programs and a staff development framework.

During 2021/22 the Trust employed an average whole time equivalent (WTE) of 270 staff (2021: 265) comprising: patient-facing clinical staff: 157 (2021: 144), income generation staff (shops, lottery, fundraising): 60 (2021: 77), Administration and support staff (Executive Team, Human Resources, IT, Finance, Maintenance, Housekeeping, Catering, Governance, Training and Education): 53 (2021: 44).

Page 13

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Structure, Governance and Management (continued)

Fundraising

All fundraising activity is undertaken by professional employed fundraisers who are supported by our team of volunteers. The Fundraising team project manage the process from start to finish with each fundraiser planning and executing activities in line with outlined budgets and targets. Governance of all fundraising activity is monitored through the separate Income Generation and Resources Committees that report to the overall Trust Board. All Committees comprise of Executives and Trustees. The team work closely with the National Association of Hospice Fundraisers. Currently this group is chaired by our own Trust managers.

In addition, all Fundraisers and managers within the Department up to Executive level are members of and subscribe to, activities and initiatives coordinated by the Institute of Fundraising. There have been no reported failings in complying with standards set for Fundraising Regulation and no complaints about our activities.

Events and initiatives are regularly undertaken in support of St Barnabas Hospice Trust (Lincolnshire) by members of the public. These are coordinated by our Community Fundraising team who oversee the activities’ development and execution. It is part of their role that each event is run in line with our own standards at all levels.

The Trust ensures all fundraising activity complies with the General Data Protection Regulations and all procedures relating to supporter care, including management of our database adhere to current regulation rules and frameworks. All personal information is handled appropriately and as a priority. There are mailing calendars in place to ensure that any direct marketing is managed appropriately. We are acutely aware of managing the process of contacting our supporters professionally.

At St Barnabas Hospice Trust (Lincolnshire) we are committed to creating a safe and rewarding environment for all our people to work and volunteer. There is a robust safeguarding policy to ensure everyone is treated properly, and a whistle blowing procedure to enable any concerns to be raised confidentially. The Trust has a zero-tolerance approach to breaches of our safeguarding policies and thoroughly investigate all alleged breaches. The policy, which aims to improve the knowledge and understanding of staff and volunteers, irrespective of their position, is regularly reviewed.

Some of our fundraising staff carry out roles that require them to work with people who are at higher risk of harm, including children and vulnerable adults. We carry out criminal record checks for people in these roles and offer comprehensive safeguarding training to senior managers in other relevant positions. To ensure we are continually maintaining the highest standards of safeguarding, we monitor guidance from Government, and the Charity Commission.

Page 14

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report including the strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . 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 the Charity and of their incoming resources and application of resources, including their income and expenditure, 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 and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditors, Duncan & Toplis Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees on 13 September 2022 and signed on their behalf by:

Mr A J M Maltby

Mrs A Legate (Treasurer)

Page 15

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

Opinion

We have audited the financial statements of St Barnabas Hospice Trust (Lincolnshire) (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2022 which comprise the consolidated statement of financial activities, the consolidated balance sheet, the charity balance sheet, the consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 the 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.

Page 16

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (CONTINUED)

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditors' 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.

Opinion 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 our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report including the Strategic report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 17

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (CONTINUED)

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, 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.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the 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 the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Page 18

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (CONTINUED)

Auditors' 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 auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial staements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with Trustees and other management obtained as part of the work required by auditing standards. We have also discussed with the Trustees and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit.

The potential impact of difference laws and regulations varies considerably. The group is subject to laws and regulations that directly impact the financial statements and we have assessed the extent of compliance with such laws as part of our financial statements audit.

The group has specific laws and regulations to follow in relation to Health & Saftey of both employees and patients and the Care Quality Commission for the care provided to their patients. The group provides regular internal training for employees on the procedures to follow and comply with the strict guidlines that are in place as well as being subject to external audits from the Care Quality Commission. Auditing standards limit the required audit procedures to indetify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection. Through these procedures, if we became aware of any noncompliance, we considered the impact on the procedures performed on the related financial statement items.

Owing to inherant limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional ommissions of the override of internal controls.

We are not responsible for preventing non-compiance and cannot be expected to detect non-compliance with all laws and regulations

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

Page 19

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (CONTINUED)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Tara Bellamy FCA (senior statutory auditor)

for and on behalf of

Duncan & Toplis Limited

Statutory Auditor 4 Henley Way

Doddington Road

Lincoln

Lincolnshire LN6 3QR

29 September 2022

Page 20

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment Income
7
Total income
Expenditure on:
Raising funds
8,9
Charitable activities
10
Total expenditure
Net income before net gains on
investments
Net gains on investments
Net income before taxation
Taxation
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2022
£
2,484,435
5,915,237
3,437,151
285,663
12,122,486
3,159,240
7,789,336
10,948,576
1,173,910
413,909
1,587,819
237
1,588,056
16,425,042
1,588,056
18,013,098		 Restricted
funds
2022
£
97,244
1,267,832
167,309
-
1,532,385
58,445
1,311,792
1,370,237
162,148
-
162,148
-
162,148
2,052,382
162,148
2,214,530		 Total
funds
2022
£
2,581,679
7,183,069
3,604,460
285,663
13,654,871
3,217,685
9,101,128
12,318,813
1,336,058
413,909
1,749,967
237
1,750,204
18,477,424
1,750,204
20,227,628		 Total
funds
2021
£
1,883,791
8,126,308
2,571,357
283,755
12,865,211
2,910,332
9,744,979
12,655,311
209,900
928,897
1,138,797
80
1,138,877
17,338,547
1,138,877
18,477,424

The Consolidated statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 25 to 60 form part of these financial statements.

Page 21

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee) REGISTERED NUMBER: 03166056

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2022

Note
Fixed assets
Tangible assets
14
Investments
16
Investment property
15
Current assets
Stocks
17
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within one
year
19
Net current assets
Total assets less current liabilities
Provisions for liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
21
Unrestricted funds
21
Total funds		 65,848
2,324,205
2,129,965
4,520,018
(1,264,692)		 2022
£
6,026,732
9,145,571
1,800,000
16,972,303
3,255,326
20,227,629
-
20,227,629
20,227,629
2,214,530
18,013,099
20,227,629		 104,646
1,671,480
3,488,374
5,264,500
(1,544,249)		 2021
£
5,187,736
7,769,674
1,800,000
14,757,410
3,720,251
18,477,661
(237)
18,477,424
18,477,424
2,052,382
16,425,042
18,477,424

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on 13 September 2022 and signed on their behalf by:

Mr A J M Maltby

Mrs A Legate (Treasurer)

The notes on pages 25 to 60 form part of these financial statements.

Page 22

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee) REGISTERED NUMBER: 03166056

CHARITY BALANCE SHEET AS AT 31 MARCH 2022

Note
Fixed assets
Tangible assets
14
Investments
16
Investment property
15
Current assets
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within one
year
19
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
21
Unrestricted funds
21
Total funds		 2,427,795
1,978,528
4,406,323
(1,155,422)		 2022
£
6,007,828
9,145,575
2,217,000
17,370,403
3,250,901
20,621,304
20,621,304
20,621,304
2,214,525
18,406,779
20,621,304		 1,924,668
3,205,014
5,129,682
(1,414,931)		 2021
£
5,167,585
7,769,678
2,217,000
15,154,263
3,714,751
18,869,014
18,869,014
18,869,014
2,052,382
16,816,632
18,869,014

The Charity's net movement in funds for the year was £ 1,752,290 (2021 - £1,142,930) .

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements were approved and authorised for issue by the Trustees on 13 September 2022 and signed on their behalf by:

Mr A J M Maltby

Mrs A Legate (Treasurer)

The notes on pages 25 to 60 form part of these financial statements.

Page 23

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Note
Cash flows from operating activities
Net cash used in operating activities
24
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
25		 2022
£
1,106,772
285,642
263,140
(1,197,536)
5,997,871
(7,766,004)
(2,416,887)
-
(1,310,115)
3,616,832
2,306,717		 2021
£
1,215,175
283,755
-
(176,480)
2,787,785
(2,901,920)
(6,860)
-
1,208,315
2,408,517
3,616,832

The notes on pages 25 to 60 form part of these financial statements

Page 24

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

St Barnabas Hospice Trust (Lincolnshire) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The consolidated statement of financial activities (SOFA) and consolidated balance sheet consolidate the financial statements of the Group and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The Group has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of financial activities in these financial statements.

1.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Voluntary income is accounted for when received. Incoming resources represents the amount receivable during the year in respect of donations and legacies.

Legacies are recognised when there is sufficient evidence to provide the necessary certainty that the legacy will be received, and the legacy can be measured with sufficient reliability.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.

Activities for generating funds, comprising principally fund raising events and trading/lottery income is recorded when receivable.

Activities furthering the charities objects. Income under health authority and NHS Lincolnshire contracts is recognised in the Statement of Financial Activities on a receivable basis.

Where income is received in advance of performance, its recognition is deferred and included in creditors until the contract is performed.

1.3 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is porbable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Page 25

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. Accounting policies (continued)

1.3 Expenditure (continued)

Expenditure is classified under the following activity headings:

(i) costs of generating funds include those costs incurred in raising voluntary income, fundraising trading/lottery costs and investment management costs.

(ii) hospice services expenditure relates to expenditure on objects and include direct costs and support costs associated to these activities.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

1.4 Allocation and apportionment of costs

Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activites. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Trusts activities. These costs have been allocated to charitable activities. The basis on which support costs have been allocated is partly according to the costs directly incurred in those areas and partly on the basis of staff numbers directly employed.

1.5 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 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.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets under the cost model are stated at histroical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and the conditions necessary for it to be capable of operating in the manner intended by management.

Individual fixed assets costing £500 or more are capitalised at cost.

Page 26

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. Accounting policies (continued)

1.6 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property - 20% on cost and 2% on cost Long-term leasehold property - 20% on cost and 2% on cost Motor vehicles - 25% on cost Fixtures and fittings - 10% on cost Shops' improvements and - 20% on cost fittings

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the consolidated statement of financial activities.

1.7 Investment property

Investment properties are carried at open market value and no depreciation is provided. The trustees consider that this accounting policy results in the financial statements giving a true and fiar view. Unrealised surpluses or deficits arising on revaluation of investment properties are shown in the Statement of Financial Activites.

1.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Statement of Financial Position date, using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Charity does no acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the Charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

Short term deposits represent investments in bank term deposits maturing within one year. Investments in subsidiary companies are stated at cost.

Page 27

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. Accounting policies (continued)

1.9 Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

1.10 Stocks

Stocks are stated at the lower of cost and net realisable value. Cost is determined on a first-in firstout basis, and includes all direct costs incurred. Net realisable value is based on an estimated selling price allowing for all further costs of disposal.

1.11 Cash and cash equivalents

Cash and cash equivalents include cash at bank and cash in hand as well as short term highly liquid investments with a short maturity (recognised within short term investments).

1.12 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.13 Operating leases

Rentals paid under operating leases are charged to the consolidated statement of financial activities on a straight line basis over the lease term.

1.14 Pension costs and other post-retirement benefits

The Trust makes payments to two defined contribution pension schemes on behalf of qualifying employees. One administered by the NHS Pensions Agency and a stakeholder scheme providing benefits for the employees additional to those from the state. Such contributions are charged in the Statement of Financial Activities when made. The contributions are invested separately from the Trust's assets.

1.15 Fund accounting

Unrestricted funds (revenue reserves) can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 28

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. Accounting policies (continued)

1.16 Volunteer contributions

Honorary officers, trustees and volunteers provide support to St Barnabas Hospice Trust (Lincolnshire). It is not practical nor feasible to place a value on the time volunteered by these persons.

2. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

In preparing these financial statements, the directors have made the following judgements:

(i) Determine whether leases entered into by the group either as a lessor or a lessee are an operating lease or finance lease. These decisions depend on assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

Other key sources of estimation uncertainty:

(ii) Tangible fixed assets, other than investment properties, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

3. Income from donations and legacies

Unrestricted
funds
2022
£
Donations, covenants and tributes
1,425,416
Legacies and bequests
1,059,019
2,484,435		 Restricted
funds
2022
£
97,244
-
97,244		 Total
funds
2022
£
1,522,660
1,059,019
2,581,679

Page 29

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

3. Income from donations and legacies (continued)

Donations, covenants and tributes
Legacies and bequests		 Unrestricted
funds
2021
£
1,350,975
433,773
1,784,748		 Restricted
funds
2021
£
99,043
-
99,043		 Total
funds
2021
£
1,450,018
433,773
1,883,791

4. Income from charitable activities

Unrestricted
funds
2022
£
Income from charitable activities - Inpatient Unit & Acute
Hospital Support
2,543,855
Income from charitable activities - Community Care
2,638,840
Income from charitable activities - Supportive Care
730,029
Government grants received
2,513
Total 2022
5,915,237
Unrestricted
funds
2021
£
Income from charitable activities - Inpatient Unit & Acute
Hospital Support
2,669,302
Income from charitable activities - Community Care
2,633,573
Income from charitable activities - Supportive Care
456,702
Government grants received
415,889
Total 2021
6,175,466		 Restricted
funds
2022
£
-
-
-
1,267,832
1,267,832
Restricted
funds
2021
£
-
-
332,881
1,617,961
1,950,842		 Total
funds
2022
£
2,543,855
2,638,840
730,029
1,270,345
7,183,069
Total
funds
2021
£
2,669,302
2,633,573
789,583
2,033,850
8,126,308

Page 30

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

5. Income from other trading activities

Income from non charitable trading activities

Unrestricted
funds
2022
£
Other income
290,450
Fundraising events
211,631
Trading income
2,257,893
Lottery income
677,177
3,437,151
Unrestricted
funds
2021
£
Other income
549,353
Fundraising events
108,560
Trading income
1,000,907
Lottery income
747,739
2,406,559		 Restricted
funds
2022
£
167,309
-
-
-
167,309
Restricted
funds
2021
£
164,798
-
-
-
164,798		 Total
funds
2022
£
457,759
211,631
2,257,893
677,177
3,604,460
Total
funds
2021
£
714,151
108,560
1,000,907
747,739
2,571,357

Page 31

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

6. Income from charitable activites by category

Health
Authority
and NHS
Lincolnshire
contracts
2022
£
Inpatient Units & Acute Hospital Support
2,543,855
Community Care
2,638,840
Supportive Care
356,056
Government (Covid) Grants
-
Total 2022
5,538,751
Health
Authority and
NHS
Lincolnshire
contracts
£
Inpatient Units & Acute Hospital Support
2,669,302
Community Care
2,633,573
Supportive Care
335,437
Government (Covid) Grants
-
Total 2021
5,638,312		 Other
charges and
contributions
2022
Grants
received
2022
£
£
-
-
-
-
151,972
222,001
1,267,832
2,513
1,419,804
224,514
Other
charges and
contributions
Other grants
received
£
£
-
-
-
-
243,709
210,437
1,617,961
415,889
1,861,670
626,326		 Other
charges and
contributions
2022
Grants
received
2022
£
£
-
-
-
-
151,972
222,001
1,267,832
2,513
1,419,804
224,514
Other
charges and
contributions
Other grants
received
£
£
-
-
-
-
243,709
210,437
1,617,961
415,889
1,861,670
626,326		 Total
funds
2022
£
2,543,855
2,638,840
730,029
1,270,345
7,183,069
Total
funds
£
2,669,302
2,633,573
789,583
2,033,850
8,126,308

7. Investment income

Unrestricted
funds
2022
£
Dividends and other income from investment portfolio
229,306
Bank interest receivable and similar income
56,357
Total 2022
285,663		 Total
funds
2022
£
229,306
56,357
285,663

Page 32

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

7. Investment income (continued)

Dividends and other income from investment portfolio
Bank interest receivable and similar income
Total 2021		 Unrestricted
funds
2021
£
224,507
59,248
283,755		 Total
funds
2021
£
224,507
59,248
283,755

8. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted
funds
2022
£
Direct other costs
334,159
Allocated support costs
268,381
Direct staff costs
383,964
Total 2022
986,504		 Total
funds
2022
£
334,159
268,381
383,964
986,504

Page 33

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

8. Expenditure on raising funds (continued)

Costs of raising voluntary income (continued)

Direct other costs
Allocated support costs
Direct staff costs
Total 2021		 Unrestricted
funds
2021
£
180,983
159,157
363,982
704,122		 Restricted
funds
2021
£
75,845
61,737
-
137,582		 Total
funds
2021
£
256,828
220,894
363,982
841,704

Fundraising trading expenses

Unrestricted
funds
2022
£
Direct other costs including costs of goods sold and lottery
prizes
1,682,118
Direct staff costs
459,291
Total 2022
2,141,409		 Restricted
funds
2022
£
58,445
-
58,445		 Total
funds
2022
£
1,740,563
459,291
2,199,854

Page 34

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

8. Expenditure on raising funds (continued)

Fundraising trading expenses (continued)

Direct other costs including cost of goods sold and lottery
prizes
Direct staff costs
Total 2021
Other trading expenses
Depreciation of fixture and fittings		 Unrestricted
funds
2021
Restricted
funds
2021
£
£
694,225
155,707
1,200,352
-
1,894,577
155,707
Unrestricted
funds
2022
£
423		 Total
funds
2021
£
849,932
1,200,352
2,050,284
Total
funds
2022
£
423

Page 35

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

8. Expenditure on raising funds (continued)

Other trading expenses (continued)

Unrestricted Total
funds funds
2021 2021
£ £
Depreciation of fixtures and fittings 423 423

9. Investment management costs

Unrestricted
funds
2022
£
Investment management costs
30,904
Unrestricted
funds
2021
£
Investment management costs
17,921		 Total
funds
2022
£
30,904
Total
funds
2021
£
17,921

10. Analysis of expenditure on charitable activities

Unrestricted
funds
2022
£
Inpatient Unit & Acute Hospital Support
3,364,249
Community Care
3,038,175
Supportive Care
1,386,912
Total 2022
7,789,336		 Restricted
funds
2022
£
171,145
1,137,316
3,331
1,311,792		 Total
funds
2022
£
3,535,394
4,175,491
1,390,243
9,101,128

Page 36

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

10. Analysis of expenditure on charitable activities (continued)

(continued)

Inpatient Unit & Acute Hospital Support
Community Care
Supportive Care
Total 2021
Analysis of expenditure by activities
Inpatient Unit & Acute Hospital Support
Community Care
Supportive Care
Total 2022		 Unrestricted
funds
2021
£
2,826,192
3,439,923
1,522,312
7,788,427
Activities
undertaken
directly
2022
£
3,226,288
3,426,098
1,096,844
7,749,230		 Restricted
funds
2021
£
1,058,364
898,188
-
1,956,552
Support
costs
2022
£
309,106
749,393
293,399
1,351,898		 Total
funds
2021
£
3,884,556
4,338,111
1,522,312
9,744,979
Total
funds
2022
£
3,535,394
4,175,491
1,390,243
9,101,128

11. Analysis of expenditure by activities

Inpatient Unit & Acute Hospital Support
Community Care
Supportive Care
Total 2021		 Activities
undertaken
directly
2021
£
3,609,950
3,546,935
1,243,256
8,400,141		 Support
costs
2021
£
274,606
791,176
279,056
1,344,838		 Total
funds
2021
£
3,884,556
4,338,111
1,522,312
9,744,979

Page 37

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

12. Staff costs

Group
Group
Charity
2022
2021
2022
£
£
£
Wages and salaries
7,942,042
8,049,065
7,482,751
Social security costs
527,001
466,314
527,001
Contribution to defined contribution pension
schemes
583,277
526,966
583,277
9,052,320
9,042,345
8,593,029
The average number of persons employed by the Charity during the year was as follows:
Group
Group
Charity
2022
2021
2022
No.
No.
No.
Nursing and care services
143
144
143
Fund raising and publicity
82
81
60
Administration
17
17
17
Management
4
5
4
Support services
19
19
19
265
266
243		 Charity
2021
£
6,848,713
466,314
526,966
7,841,993
Charity
2021
No.
144
11
16
4
18
193

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Group Group
2022 2021
No. No.
In the band £60,001 - £70,000 3 3
In the band £80,001 - £90,000 1 1

Retirement benefits were accruing under the NHS defined benefit pension scheme to the members of staff in question in both years.

The Trust had 701 (340: 2020-2021) volunteers working for it during 2021-22. The amount of hours worked by them ranges from those who give a few hours of time for special tasks and events right up to volunteers who cover daily duties. They work across all areas of the Trust.

The Trust considers its key management personnel to comprise the chief executive and the senior management team. The total employee benefits including employer pension contributions of the 4 (2021 - 4) key management personnel were £380,346 (2021 - £365,457).

Page 38

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

13. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 March 2022, expenses totalling £ NIL were reimbursed or paid directly to Trustee (2021 - £NIL to Trustee) .

Page 39

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

14.
Tangible fixed assets
Group
Cost or valuation
At 1 April 2021
Additions
Disposals
Transfers between classes
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
On disposals
Impairment charge
At 31 March 2022		 Freehold
property
£
6,640,496
837,037
(147,537)
-
7,329,996
2,311,528
134,800
(86,067)
-
2,360,261		 Long-term
leasehold
property
£
1,592,077
-
-
-
1,592,077
1,154,851
404
-
-
1,155,255		 Motor
vehicles
£
32,598
-
-
-
32,598
32,598
-
-
-
32,598		 Fixtures and
fittings
Assets in
progress of
construction
£
£
1,304,252
90,782
339,837
-
(10,839)
-
-
20,561
1,633,250
111,343
1,060,924
-
133,362
-
(10,839)
-
824
-
1,184,271
-		 Shops'
improvemen
ts and
fittings
£
769,680
20,562
(16,956)
-
773,286
682,248
46,897
(15,712)
-
713,433		 Total
£
10,429,885
1,197,436
(175,332)
20,561
11,472,550
5,242,149
315,463
(112,618)
824
5,445,818

Net book value

Page 40

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

14. Tangible fixed assets (continued)

Group (continued)

At 31 March 2022
At 31 March 2021		 Freehold
property
£
4,969,735
4,328,968		 Long-term
leasehold
property
£
436,822
437,226		 Motor
vehicles
£
-
-		 Fixtures and
fittings
Assets in
progress of
construction
£
£
448,979
111,343
243,328
90,782		 Shops'
improvemen
ts and
fittings
£
59,853
87,432		 Total
£
6,026,732
5,187,736

The net book value of freehold land and buildings includes £2,186,752 (2021 - £1,855,056) in respect of restricted fund assets (note 23).

Capital commitments at 31 March 2022 amounted to £nil (2021 - £nil).

Page 41

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

14. Tangible fixed assets (continued)

Charity

Cost or valuation
At 1 April 2021
Additions
Disposals
Transfers between classes
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
On disposals
At 31 March 2022		 Freehold
property
£
6,597,241
837,037
(147,537)
-
7,286,741
2,311,528
134,800
(86,067)
2,360,261		 Long-term
leasehold
property
£
1,600,556
-
-
-
1,600,556
1,138,978
404
-
1,139,382		 Motor
vehicles
£
28,917
-
-
-
28,917
28,917
-
-
28,917		 Fixtures and
fittings
Assets in
progress of
construction
£
£
1,275,223
90,782
339,837
-
(10,839)
-
-
20,561
1,604,221
111,343
1,033,143
-
132,939
-
(10,839)
-
1,155,243
-		 Shop's
improvemen
ts and
fittings
£
769,680
20,562
(16,956)
-
773,286
682,248
46,897
(15,712)
713,433		 Total
£
10,362,399
1,197,436
(175,332)
20,561
11,405,064
5,194,814
315,040
(112,618)
5,397,236

Page 42

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

14. Tangible fixed assets (continued)

Charity (continued)

Net book value
At 31 March 2022
At 31 March 2021		 Freehold
property
£
4,926,480
4,285,713		 Long-term
leasehold
property
£
461,174
461,578		 Motor
vehicles
£
-
-		 Fixtures and
fittings
£
448,978
242,080		 Assets in
progress of
construction
£
111,343
90,782		 Shop's
improvemen
ts and
fittings
Total
£
£
59,853
6,007,828
87,432
5,167,585		 Shop's
improvemen
ts and
fittings
Total
£
£
59,853
6,007,828
87,432
5,167,585
5,167,585

The net book value of freehold land and buildings includes £1,855,056 (2021 - £1,855,056) in respect of restricted fund assets (note 23).

Capital commitments at 31 March 2022 amounted to £nil (2021 - £nil).

Page 43

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

15.
Investment property
Group
Valuation
At 1 April 2021
At 31 March 2022
Charity
Valuation
At 1 April 2021
At 31 March 2022		 Freehold
investment
property
£
1,800,000
1,800,000
Freehold
investment
property
£
2,217,000
2,217,000

Investment properties are stated at open market values as at March 2017 as prepared by Banks, Long & Co. The surveyor who valued the portfolio is a member of the Royal Institute of Chartered Surveyors. If the land and buildings had not been revalued, they would have been stated at their cost of £2,037,951 (2021 - £2,037,951) for the charity. All of this property is owned by the registered charity and therefore has no liability to corporation tax on income and capital that is applied for charitable purposes. The trustees consider there have been no changes in the open market value of investment properties during the year.

Page 44

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

16. Fixed asset investments

Group
Cost or valuation
At 1 April 2021
Additions
Disposals
Revaluations
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Listed
investments
£
7,641,219
4,446,659
(3,279,936)
160,874
8,968,816
8,968,816
7,641,219		 Cash held
as part of
the
investment
portfolio
£
128,457
3,279,936
(3,231,638)
-
176,755
176,755
128,457		 Total
£
7,769,676
7,726,595
(6,511,574)
160,874
9,145,571
9,145,571
7,769,676

Page 45

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

16. Fixed asset investments (continued)

There were no investment assets outside the UK.
2022 2021
£
 £
Cost of listed investments at 31 March 2022 7,886,801 6,366,642

The listed investments are quoted on a recognised investment exchange. The portfolio of investments includes a range of fixed interest and equity holdings.

All investments are carried at their fair value. Investment in equities and fixed interest securities are all traded in quoted public markets. Holdings in common investment funds, unit trusts and open-ended investment companies are at the bid price. The basis of fair value for quoted investments is equivalent to the market value, using the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).

The significance of financial instruments to the ongoing financial sustainability of the Hospice is considered in the financial review and investment policy and performance sections of the Trustees' Annual Report. The main risk to the Hospice from financial instruments lies in the combination of uncertain investment markets and volatility in yield.

Liquidity risk is anticipated to be low as all assets are traded and the commitment to intervention by central banks and market regulators has continued to provide for orderly trading in the markets and so their ability to buy and sell quoted equities and stock is anticipated to continue. The Hospice's investments are mainly traded in markets with good liquidity and high trading volumes.

The Hospice has no material investment holdings in markets subject to exchange controls or trading restrictions. The Hospice does not make use of derivatives and similar complex financial instruments as it takes the view that investments are held for their longer term yield total return and historic studies of quoted financial instruments have shown that volatility in any particular 5 year period will normally be corrected.

Page 46

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

16. Fixed asset investments (continued)

Charity
Cost or valuation
At 1 April 2021
Additions
Disposals
Revaluations
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Investments
in
subsidiary
companies
£
4
-
-
-
4
4
4		 Listed
investments
£
7,641,219
4,446,659
(3,279,936)
160,874
8,968,816
8,968,816
7,641,219		 Cash held
as part of
the
investment
portfolio
£
128,457
3,279,936
(3,231,638)
-
176,755
176,755
128,457		 Total
£
7,769,680
7,726,595
(6,511,574)
160,874
9,145,575
9,145,575
7,769,680

Page 47

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

16. Fixed asset investments (continued)

Principal subsidiaries

The following were subsidiary undertakings of the Charity:

Names Registered office or principal Principal activity Class of Holding Included in
place of business shares consolidation
St Barnabas 12 Cardinal Close, Charity shop Ordinary 100% Yes
Shops Limited Lincoln LN2 4SY
St Barnabas 12 Cardinal Close, Lottery Ordinary 100% Yes
Promotions Limited Lincoln LN2 4SY

The financial results of the subsidiaries for the year were:

Names Profit/(Loss Net assets
)/ Surplus/ £
(Deficit) for
the year
£
St Barnabas 183,134 2,735
Shops Limited
St Barnabas 379,214 3,875
Promotions Limited

Both these companies donate substantially all profits to the St Barnabas Hospice Trust (Lincolnshire) under the Gift Aid Scheme.

Page 48

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

17. Stocks

Group Group
2022 2021
£ £
Finished goods and goods for resale 65,848 104,646

18. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
Tax recoverable		 Group
2022
£
-
-
39,194
2,261,129
23,882
2,324,205		 Group
2021
£
1,020
-
332,165
1,311,765
26,530
1,671,480		 Charity
2022
£
-
112,772
39,194
2,251,947
23,882
2,427,795		 Charity
2021
£
-
412,492
332,165
1,153,481
26,530
1,924,668

19. Creditors: Amounts falling due within one year

Payments received on account
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 Group
2022
£
68,990
365,210
26,858
90,954
712,680
1,264,692		 Group
2021
£
74,721
421,696
89,463
70,811
887,558
1,544,249		 Charity
2022
£
-
362,864
8,503
90,756
693,299
1,155,422		 Charity
2021
£
-
413,637
70,124
70,259
860,911
1,414,931

Page 49

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

DEFERRED INCOME
Deferred income at 1 April 2021
Resources deferred during the year
Amounts released from previous periods		 Group
2022
£
551,696
297,629
(551,696)
297,629		 Group
2021
£
357,939
551,696
(357,939)
551,696		 Charity
2022
£
551,696
297,629
(551,696)
297,629		 Charity
2021
£
357,939
551,696
(357,939)
551,696

Deferred income relates to funding that has been recieved in advance for future periods and lottery income recieved for future draws.

20. Deferred taxation

Group

2022 £ - At the beginning of the year -

Charity

The deferred tax liability is made up as follows:

Accelerated capital allowances Group
2022
£
-
-		 Group
2021
£
(237)
(237)

Page 50

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

21. Statement of funds

Statement of funds - current year

Balance at 1
April 2021
£
Unrestricted funds
Designated funds
Grantham Wellbeing
100,000
Inpatient Unit
2,000,000
Lincoln Wellbeing
500,000
2,600,000
General funds
Fixed Asset Fund
3,332,682
Revenue Reserves
3,023,804
Revaluation Reserves
1,101,914
Investment Reserve
6,366,642
13,825,042		 Income
£
-
-
-
-
168,405
11,954,082
-
-
12,122,487		 Expenditure
£
-
-
-
-
(491,626)
(10,456,950)
-
-
(10,948,576)		 Taxation
£
-
-
-
-
-
237
-
-
237		 Transfers
in/out
£
100,000
(600,000)
(400,000)
(900,000)
830,514
(129,546)
(907,218)
1,106,250
900,000		 Gains/
(Losses)
£
-
-
-
-
-
-
-
413,909
413,909		 Balance at
31 March
2022
£
200,000
1,400,000
100,000
1,700,000
3,839,975
4,391,627
194,696
7,886,801
16,313,099

Page 51

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

21. Statement of funds (continued) Statement of funds - current year (continued)

Balance at 1
April 2021
£
Total Unrestricted funds
16,425,042
Restricted funds
Other restricted funds
1,600,077
Boston Wellbeing
452,305
Fixed asset fund
-
2,052,382
Total of funds
18,477,424		 Income
£
12,122,487
1,311,726
220,659
-
1,532,385
13,654,872		 Expenditure
£
(10,948,576)
(1,361,483)
(8,754)
-
(1,370,237)
(12,318,813)		 Taxation
£
237
-
-
-
-
237		 Transfers
in/out
£
-
(1,522,542)
-
1,522,542
-
-		 Gains/
(Losses)
£
413,909
-
-
-
-
413,909		 Balance at
31 March
2022
£
18,013,099
27,778
664,210
1,522,542
2,214,530
20,227,629

Page 52

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

21. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Louth Wellbeing
Grantham Wellbeing
Inpatient Unit
Lincoln Wellbeing
General funds
Fixed Asset Fund
Revenue Reserves
Revaluation Reserves
Investment Reserve		 Balance at
1 April 2020
£
350,000
100,000
1,000,000
500,000
1,950,000
3,896,390
1,947,095
1,301,914
6,115,819
13,261,218		 in funds
£
-
-
-
-
-
-
10,650,529
-
-
10,650,529		 Expenditure
£
(233,028)
-
-
-
(233,028)
(474,672)
(9,497,765)
(200,000)
-
(10,172,437)		 Taxation
£
-
-
-
-
-
-
80
-
-
80		 between
funds
£
(116,972)
-
1,000,000
-
883,028
(89,037)
(76,133)
-
(678,075)
(843,245)		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
928,897
928,897		 Balance at
31 March
2021
£
-
100,000
2,000,000
500,000
2,600,000
3,332,681
3,023,806
1,101,914
6,366,641
13,825,042

Page 53

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

21. Statement of funds (continued)

Statement of funds - prior year (continued)

Total Unrestricted funds
Restricted funds
Other restricted funds
Boston Wellbeing
Total of funds		 Balance at
1 April 2020
£
15,211,218
1,667,247
460,076
2,127,323
17,338,541		 in funds
£
10,650,529
2,214,684
-
2,214,684
12,865,213		 Expenditure
£
(10,405,465)
(2,244,016)
(5,826)
(2,249,842)
(12,655,307)		 Taxation
£
80
-
-
-
80		 between
funds
£
39,783
(37,838)
(1,945)
(39,783)
-		 Gains/
(Losses)
£
928,897
-
-
-
928,897		 Balance at
31 March
2021
£
16,425,042
1,600,077
452,305
2,052,382
18,477,424

Page 54

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

22. Summary of funds

Summary of funds - current year

Balance at 1
April 2021
£
Designated funds
2,600,000
General funds
13,825,042
Restricted funds
2,052,382
18,477,424		 Income
£
-
12,122,487
1,532,385
13,654,872		 Expenditure
£
-
(10,948,576)
(1,370,237)
(12,318,813)		 Taxation
£
-
237
-
237		 Transfers
in/out
£
(900,000)
900,000
-
-		 Gains/
(Losses)
£
-
413,909
-
413,909		 Balance at
31 March
2022
£
1,700,000
16,313,099
2,214,530
20,227,629

Summary of funds - prior year

Designated funds
General funds
Restricted funds		 Balance at
1 April 2020
£
1,950,000
13,261,218
2,127,323
17,338,541		 in funds
£
-
10,650,529
2,214,684
12,865,213		 Expenditure
£
(233,028)
(10,172,437)
(2,249,842)
(12,655,307)		 Taxation
£
-
80
-
80		 Transfers
in/out
£
883,028
(843,245)
(39,783)
-		 Gains/
(Losses)
£
-
928,897
-
928,897		 Balance at
31 March
2021
£
2,600,000
13,825,042
2,052,382
18,477,424

Page 55

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

23. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2022
£
Tangible fixed assets
3,839,975
Fixed asset investments
9,145,571
Investment property
1,800,000
Current assets
4,492,245
Creditors due within one year
(1,264,692)
Total
18,013,099
Analysis of net assets between funds - prior year
Unrestricted
funds
2021
£
Tangible fixed assets
3,332,680
Fixed asset investments
7,769,674
Investment property
1,800,000
Current assets
5,067,174
Creditors due within one year
(1,544,249)
Provisions for liabilities and charges
(237)
Total
16,425,042		 Restricted
funds
2022
£
2,186,757
-
-
27,773
-
2,214,530
Restricted
funds
2021
£
1,855,056
-
-
197,326
-
-
2,052,382		 Total
funds
2022
£
6,026,732
9,145,571
1,800,000
4,520,018
(1,264,692)
20,227,629
Total
funds
2021
£
5,187,736
7,769,674
1,800,000
5,264,500
(1,544,249)
(237)
18,477,424

Page 56

(A company limited by guarantee)

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Charity

Unrestricted
funds
2022
£
Analysis of net assets between funds - current period
Tangible fixed assets
3,821,076
Fixed asset investments
9,145,574
Investment property
2,217,000
Current assets
4,355,045
Creditors due within one year
(1,155,422)
18,383,273
Unrestricted
funds
2021
£
Analysis of net assets between funds - prior period
Tangible fixed assets
3,312,530
Fixed asset investments
7,769,678
Investment property
2,217,000
Current assets
4,932,354
Creditors due within one year
(1,414,931)
16,816,631		 Restricted
funds
2022
£
2,186,752
-
-
27,773
-
2,214,525
Restricted
funds
2021
£
1,855,056
-
-
197,327
-
2,052,383		 Total
funds
2022
£
6,007,828
9,145,574
2,217,000
4,382,818
(1,155,422)
20,597,798
Total
funds
2021
£
5,167,586
7,769,678
2,217,000
5,129,681
(1,414,931)
18,869,014

Page 57

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE) (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

The Trustees of St Barnabas Hospice Trust (Lincolnshire) are committed to supporting the development of a comprehensive network of local palliative and end of life services throughout Lincolnshire so that they are provided close to patient's homes.

It is our ambition that these services will be enhanced and facilitated by the on-going development of our innovative, dependable and effective Specialist Palliative Medicine teams who together will provide tertiary support to clinical teams across our whole health and social care community.

In line with the strategic plan, the trustees have reviewed the designation of funds. During the course of the next three years, the Trust intends to commence a programme of property development projects to upgrade the quality of its estate across the county to improve the patient experience. The estate development will be funded by utilising a combination of funds currently held Trust investments and launching a public capital appeal. The Trust has set aside a specific Designated Fund for this purpose.

The trustees recognise that dividend and interest income earned from the Trust investment portfolio provides an invaluable source of ongoing income and have set aside an Investment Income Reserve to maintain this income flow for future years.

The Trust will continue to maintain a policy of holding a reserve of six months running costs and as previously agreed, surplus funds will be invested in the development fund to continue to support local service provision and the establishment of the Estate.

The fixed assets of the charity have been separated out into a Fixed Asset Fund totalling £5.343 million (2021 - £3.312 million) which includes the land purchased for the Estate.

Unrealised gains on fixed asset investments included in unrestricted funds are as follows:

2022
 2021
£ £
Unrealised gains at 1 April 2021
 1,235,609 306,712
Amounts realised through investment disposal in year 729,654 23,650
Net gain / (loss) arising on revaluation in year
 (315,745) 905,247
Transfer - -
_ __
Unrealised gains at 31 March 2022
 1,649,518 1,235,609
_ __

The revaluation reserve in the Charity Statement of Financial Position also includes the loss on investment properties of £Nil (2021 - £200,000) and a transfer to the revenue reserve of £907,218 (2021 £Nil), resulting in the revaluation reserve totalling £373,744 (2021 - £1,280,962).

Page 58

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

24. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Gains/(losses) on investments
Dividends, interests and rents from investments
Loss/(profit) on the sale of fixed assets
Decrease in stocks
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Deferred tax
Net cash provided by operating activities
25.
Analysis of cash and cash equivalents
Cash in hand
Investment income
Total cash and cash equivalents
26.
Analysis of changes in net debt		 Group
2022
£
1,750,204
315,463
413,909
(285,642)
(193,440)
38,798
(652,726)
(279,557)
(237)
1,106,772
Group
2022
£
2,129,963
176,754
2,306,717		 Group
2021
£
1,138,877
386,493
(928,897)
(283,286)
86,960
104,646
424,100
286,362
(80)
1,215,175
Group
2021
£
3,488,375
128,457
3,616,832
Cash at bank and in hand
Investment income		 At 1 April
2021
£
3,488,374
128,457
3,616,831		 Cash flows
£
(1,358,409)
48,297
(1,310,112)		 At 31 March
2022
£
2,129,965
176,754
2,306,719

Page 59

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

27. Operating lease commitments

At 31 March 2022 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 Group
2022
£
302,759
239,348
542,107		 Group
2021
£
326,350
358,545
684,895		 Charity
2022
£
302,759
239,348
542,107		 Charity
2021
£
298,515
358,545
657,060

28. Related party transactions

Indemnity insurance has been purchased on behalf of the Trustees at a cost of £702 (2021 - £702) for the year.

During the year the charitable company made purchases from J.W. Ruddock & Sons Limited, a company in which Mr P Banton, Trustee, is a director. The total purchases made during the year were £50,895 (2021 - £13,183) and at the year end an amount of £8,456 (2021 - £5,230) was outstanding.

During the year the charitable company made purchases from Lindum Sports Association Limited, a company in which Mr A Maltby, Trustee, is a director. The total purchases made during the year were £1,921 (2021 - £Nil) and at the year end an amount of £Nil (2021 - £Nil) was outstanding.

Page 60