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2023-03-31-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 2023

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 - 16
Independent auditors' report on the financial statements 17 - 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 2023

Mr A J M Maltby, Chairman
Dr N C Hepburn, Trustee
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
Miss H Jackson, Trustee
Mr D A Cross, Trustee (Resigned 17 February 2023)
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 Audit 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 2023

The Trustees present their annual report together with the audited financial statements of the Charity for the 1 April 2022 to 31 March 2023. 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. Whilst the previous few years have been challenging, the Hospice has remained strong and resilient in developing and delivering palliative and end of life care services throughout the County, whilst also improving our Estates and being a key contributor to the county wide service redesign programme with the Integrated Care Board (ICB). I am confident that the Hospice can and will continue to provide outstanding and responsive care to all that require our support.

As Chairman, my role is to ensure that the Board of Trustees have all the necessary information available to provide them with confidence that the executive team can and are delivering 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 its priority.

The diversity and scope of the priorities we have committed to deliver in the 2023 / 2024 demonstrates that we can innovate and evolve to enable hospice care to be accessible to ever increasing numbers of people in our communities across Lincolnshire that need us, a firm commitment of St Barnabas.

Our dedication to continue to deliver outstanding Hospice care is steadfast. On behalf of the Board, I would like to extend our utmost gratitude to everyone who has and continues to support St Barnabas Lincolnshire Hospice.

Tony Maltby Trust Chairman

Page 2

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

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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 2023

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 2022/2023, our volunteers donated an estimated 80,305 hours (2022: 63,465) of their time to the hospice, which at the minimum wage and on-costs such as employer national insurance, equates to a donation of £891,064 (2022: £618,364).

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 2023

Strategic report

Achievements and performance

Charitable activities

During the year the Trust closed its Nettleham Rd In-Patient Unit between May and November 2022 to carry out a £1.3m refurbishment project that included upgrade of patient area, upgrade of reception area, addition of a new drugs room, replacement of heating system and essential fire compartmentation works. Consequently, InPatient admissions were lower than the previous year. The unit occupancy data is based on bed availability days.

days.
2021/22 2022/23
Palliative Care Co-ordination Centre
New Patient Referrals 2,884 3,166
Calls handled 112,248 87,296
In-Patient Unit
Total Admissions 201 109
Unit Occupancy (%) 86% 84%
Average Length of Stay (Days) 10.3 9.6
Allied Health Professionals
Occupational Therapy 1,050 939
Physiotherapy 596 621
Community Nursing
Number of Patients 2,547 2,595
Average Length of Care (Days) 51.3 47.9
Specialist Palliative Care - Other
Outpatients 109 209
In Reach 68 1086
Advice/Consultation 537 2390
Community Clinical Nurse Specialists 265 379
Specialist Nurse Practitioners 95 83
Family Support Services
Number of clients 772 859
Welfare
Number of clients 4,752 5,323
Estimate of client benefits obtained £8,605,651 £9,830,929
Hospice in the Hospital
Number of Admissions 134 164
Occupancy (%) 68% 60%
Average Length of Stay (Days) 11.6 8.1

Page 5

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Strategic report (continued)

Achievements and performance (continued)

Clinical Achievments during 2022/23

The Trust identified five clinical priorities for improvement during 2022-2023

  1. Refreshing our approach to Clinical Supervision

  2. Transitioning from Children’s and Young Adult Hospice Care to Adult Hospice: co-designing a pathway

  3. Equality, Diversity, and Inclusion: improving equity in access to clinical care by using data to identify opportunities for development.

  4. Improving patient and public engagement in hospice services

  5. Delivering community bereavement support through peer led groups.

1. Refreshing our approach to Clinical Supervision

St Barnabas reviewed its established model of clinical supervision to enhance staff wellbeing and ensure the very best in clinical care for its patients.

What we have achieved :

  1. Regional Professional Nurse Advocate (PNA) links established.

  2. Invested in PCCC lead nurse training to attain PNA master’s level qualification.

  3. Identified future PNA roles and training needs.

  4. RGNs surveyed to scope their opinions and needs of current provision of clinical supervision and knowledge of PNAs.

  5. Detailed report and action plan recommendations taken to Clinical Governance meeting for ratification and are now being delivered.

  6. March 2023 hospice supervision policy updated and being implemented.

Page 6

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Strategic report (continued)

Achievements and performance (continued)

2. Transitioning from Children’s and Young Adult Hospice Care to Adult Hospice: co-designing a pathway

The Hospice UK report “ Being curious and confident ” identified that whilst a growing number of children and young adults with life-limiting conditions are now living into adulthood, the transition from children to adult services can often be a stressful time for them and their families.

Models of care should be adapted to cater for this change as young people begin to access adult services as their needs and preferences change. Feedback from young people confirmed they often fail to find the support and services they need from either children’s or adult services. Both the Trust and Hospice UK believe every young person with a life-limiting or life-threatening condition should have access to appropriate care and support reflective of his/her individual needs and preferences.

Working with NHSE, the Trust contributed to work across the country, supported through the Burdett Trust, to ensure positive transitions for young adults entering to adult care services. Children’s Hospices operate a different model to ours so it was helpful to build links across the system with the leaders in Transition and link up with the Children’s’ Hospices locally to co-design with the Young Adults and their families what the pathway could look like from Children’s Hospices to Adult Hospices.

What we have achieved :

Page 7

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Strategic report (continued)

Achievements and performance (continued)

3. Equality and Diversity – Improving Equity in Access to Clinical Care by Using Data to Identify Opportunities for Development

The Care Quality Commission report “ A different ending: addressing inequalities in end-of-life care ” (May 2016), demonstrated that where commissioners and services adopt an equality-led approach in responding to people’s individual needs, people receive better care. Reviewing the clinical data, the demographic data disability, sexual orientation, and religion are the lowest recorded protected characteristics for our caseloads. The Trust was therefore sought to understand:

What we have achieved:

Page 8

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Strategic report (continued)

Achievements and performance (continued)

4. Improving Patient and Public Engagement in Hospice Services

The Trust made progress towards its ambition to improve public and patient engagement. Staff attended health and wellbeing events across the county, listened to feedback and collated survey responses from counselling clients about their experience. The Lincolnshire Bereaved Families Voices 2022 Survey had a good response and the results helped direct our involvement strategies.

5. Delivering Community Bereavement Support Through Peer Led

The death of a loved one is universal and one of the most stressful experiences in life. St Barnabas Hospice has a long and successful history of providing bereavement care ranging from group support to one-to-one counselling for adults across Lincolnshire, including people who have not previously used our services. During the pandemic, all support was delivered remotely either via telephone or online platforms.

As the pandemic measures eased, clients increasingly asked for opportunities to meet with other bereaved people in their communities for local support. The Trust adopted a new, more flexible, and community-based approach to group bereavement care. Attendance at our popular Boston and Grantham monthly drop-in bereavement groups goes from strength to strength. Provision of grief support at HMP North Sea Camp has had excellent feedback with a request for further group working that is being looked at. To strengthen the support available, wellbeing staff have undertaken additional training in trauma interventions and are evaluating bereavement risk assessments. They are working with Lincolnshire Partnership NHS Trust (LPFT) to ensure the content is clinically safe and evidence based.

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

Fundraising

2022/23 proved another challenging year for the Fundraising and Lottery teams still recovering from the impact of Covid, the ongoing war in Ukraine and consequent high inflation rate and cost-of-living crisis which negatively impacted supporter disposable incomes. As a result, supporter activity and in particular participant sign ups and the ability and willingness of supporters to seek sponsorship were lower than we would have normally expected. This was evidenced through our 6th and final Colour Dash event in May 2022 where 1500 participants raised a total of £48,000 for the hospice where pre-pandemic this event would regularly raise more than £130,000. In addition to raising valuable funds however, the event was a great success gaining incredible social media traction and positive feedback, raising awareness and the profile of the Hospice.

Despite the difficult economic environment, the fundraising team continue to work to secure support for our diverse range of fundraising initiatives and maintain close stewardship of our supporters. This year we extended our Easter novelties initiatives which saw numerous volunteer `knitting’ easter chicks and other characters, eggs were donated, and these were sold by corporate and community groups. No costs were incurred with this, and the initiative raised over £7000, we will be upscaling this initiative for the latter part of 23/24 and into 24/25.

Page 9

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Strategic report (continued)

Achievements and performance (continued)

The ever popular annual Light up a Life and Torchlight Procession brings local communities together to remember their loved ones and was again a great success in 2022. Over 1200 people registered for the event to dedicate a light raising £45,057 as for the first time we moved to an integrated Christmas appeal. The combined appeal also included Rudy’s, Run, Tree cycle and community engagement events raised over £100,000. Integrated campaigns will continue to unite a collection of campaigns and initiatives to ensure a more cohesive message for our supporters, making it easier for them to engage and providing the team with clear direction.

We would like to express sincere thanks and appreciation to all those people who either donated, participated in, or volunteered at our events. Successful campaigns included:

Grants & Trusts 37 Grants generated income of £218,869.

Number of new supporters in 22/23 5022

Retail

Favourable market conditions for the charity retail sector and the growth of the recycling market helped contribute towards a successful trading year for the Trust’s shops. At the end of the previous year, the Trust undertook a restructure of its retail operations with a renewed focus on a traditional charity shop “back to basics” approach. This restructure along with the opening of the new flagship Warehouse store at Cardinal Close helped delivered a successful 2022-23 with turnover of £2.614m (2022: £2.258m)

Over the next 12 months the Trust will consolidate on this growth, focusing on increasing Gift Aid, keeping costs low and concentrating on the poorer performing stores with a view to improvement or closure. Coupled with a relocation of the Boston shop and identifying our next ‘superstore’, the team look set to repeat the success of the past year.

Trust Estate

During the year the Trust completed a £1.2m refurbishment of its In-Patient Unit at Nettleham Rd, Lincoln. The work comprised of essential fire safety and compartmentation works, upgrade to individual patient rooms and ward areas, upgrade of a patient lounge, wellbeing room, bathroom, and a new drugs room.

During the year the Trust disposed of its investment land at St Annes Rd, Lincoln for £2.3m generating a net investment gain of £0.500m.

Page 10

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Strategic report (continued)

Financial review

Financial position

During 2022-23, the consolidated Trust accounts posted a deficit net movement of funds of £0.471m (2022: £1.750m surplus) including a loss on the investment portfolio of £0.074m (2022: Surplus £0.413m) as equity markets remained volatile across the world. Excluding the loss on the investment portfolio, the Trust posted an operating deficit of £0.396m (2022: £1.336m surplus). Income from all sources amounted to £13.157m (2022: £13.655m) of which 45% (2022: 53%) was generated through NHS contracts and NHSE funding, and 55% through fundraising, donation and investing activities. Expenditure for the same period was £13.554m (2022: £12.319m).

Performance of Subsidiaries

St Barnabas Shops Ltd did not trade during 2022-23 and was dissolved in April 2023. Retail trading activity was transferred to the main Trust.

St Barnabas Promotions Ltd donated £0.352m (2022: £0.379m) to the Trust.

Financial Outlook

The current high inflation rate and recent interest rate increases will negatively impact both individual and corporate disposable incomes whilst adding cost pressures. We therefore anticipate a difficult fiscal outlook for both fundraising opportunities and the contracting environment during the next two years. For 2023-24, the Trust is forecasting another deficit year more than £1.3m.

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 2022/23 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 2023 amounted to £19.757m (2022: £20.228m), of which restricted funds were £2.171m (2022: £2.215m). The current level of unrestricted reserves is £17.586m, of which £5.185m 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 £7.754m, revaluation reserve of £0.775m and £2.171m in a general revenue reserve.

Page 11

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

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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 £8.528m (2022: £7.770m).

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 2022/23 year the Trust earned £0.285m (2022: £0.286m) 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.

Provision of information to Auditor

In so far as the trustees are aware:

Page 12

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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 address is 36 Nettleham Road, Lincoln, LN2 1RE.

The Trust is governed by a Board of trustees who meets at least six times a year to ensure the strategic leadership and governance of the Charity.

Trustee Recruitment

At the end of the fiscal year there were nine 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. Each committee was 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 13

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Structure, Governance and Management (continued)

Subsidiary Companies

During 2022-2023, the assets of St Barnabas Shops Limited were hived up into St Barnabas Hospice Trust (Lincolnshire) followed by an application to strike off the company. The strike off and final dissolution occurred on 25[th] April 2023.

St Barnabas Promotions Limited continues to operate as a trading subsidiary assisting in the funding of the Charity with profits gift-aided annually. St Barnabas Promotions Limited has own board of directors, consisting of Trustees on the Charity’s Trust Board and the Chief Executive Officer.

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 2022/23 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 2023/23, 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 2022/2023 services commissioned by the NHS are managed through the Lincolnshire Clinical Integrated Care Board.

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 2022/23 the Trust employed an average whole time equivalent (WTE) of 251 staff (2022: 270) comprising: patient-facing clinical staff: 145 (2022: 157), income generation staff (shops, lottery, fundraising): 56 (2022: 60), Administration and support staff (Executive Team, Human Resources, IT, Finance, Maintenance, Housekeeping, Catering, Governance, Training and Education): 50 (2022: 53).

Information Technology

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.

Page 14

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

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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 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 we are committed to creating a safe and rewarding environments 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 15

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

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Statement of Trustees' responsibilities

The trustees (who are also the directors of St Barnabas Hospice Trust (Lincolnshire) for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable group and company and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable group 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 Audit 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 26 September 2023 _______ and signed on their behalf by:

Mr A J M Maltby

Mrs A Legate (Treasurer)

Page 16

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 2023 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 17

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 18

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.

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 statements 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 different laws and regulations varies considerably. Firstly, the group is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements such as depreciation of tangible fixed assets, as well as the risk of inappropriate journal entries to increase reported profitability. Audit procedures performed by the engagement team included the identification and testing of material and unusual journal entries and challenging management on key accounting estimates, assumptions and judgements made in the preparation of the financial statements. We carried out detailed substantive tests on accounting estimates, including reviewing the methods used by management to make those estimates, re-performing the calculation, and reviewing the outcome of prior year estimates.

Secondly, the group is subject to other laws and regulations where the consequence for non compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safety of both employees and patients and the Care Quality Commission for the care provided to their patients, compliance with the Charities Commission and

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)

Gambling Commission and Employment laws. 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 identify noncompliance with these laws and regulations to enquiry of the Trustees and other management and inspection. This inspection included a review of the external Care Quality Commission audits conducted throughout the year for any evidence of non-compliance, a review of the submissions made to the Gambling Commission, in addition to an assessment of the group's employement and health and safety controls. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

Owing to the inherent 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 removed 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 nondetection of irregularities as these may involve collusion, intentional omissions of the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance 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.

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 Audit Limited

Statutory Auditor

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

Date: 31 October 2023

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 2023

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 (expenditure)/income before net
(losses)/gains on investments
Net (losses)/gains on investments
Net (expenditure)/income before
taxation
Taxation
Net (expenditure)/income after
taxation
Transfers between funds
20
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
2,749,655
5,906,155
3,668,661
369,652
12,694,123
3,879,037
9,169,299
13,048,336
(354,213)
(74,485)
(428,698)
-
(428,698)
398,096
(30,602)
18,013,099
(30,602)
17,982,497		 Restricted
funds
2023
£
172,607
-
30,247
-
202,854
-
245,035
245,035
(42,181)
-
(42,181)
-
(42,181)
-
(42,181)
2,214,529
(42,181)
2,172,348		 Total
funds
2023
£
2,922,262
5,906,155
3,698,908
369,652
12,896,977
3,879,037
9,414,334
13,293,371
(396,394)
(74,485)
(470,879)
-
(470,879)
398,096
(72,783)
20,227,628
(72,783)
20,154,845		 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
-
1,750,204
18,477,424
1,750,204
20,227,628

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 2023

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
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
20
Unrestricted funds
20
Total funds		 27,314
1,777,573
3,565,520
5,370,407
(1,446,857)		 2023
£
7,701,870
8,529,425
-
16,231,295
3,923,550
20,154,845
20,154,845
20,154,845
2,172,348
17,982,497
20,154,845		 65,848
2,324,205
2,129,964
4,520,017
(1,264,692)		 2022
£
6,026,732
9,145,571
1,800,000
16,972,303
3,255,325
20,227,628
20,227,628
20,227,628
2,214,529
18,013,099
20,227,628

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

26 September 2023 The financial statements were approved and authorised for issue by the Trustees on _______ 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 2023

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
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
20
Unrestricted funds
20
Total funds		 24,431
1,849,090
3,427,782
5,301,303
(1,382,321)		 2023
£
7,701,870
8,529,427
-
16,231,297
3,918,982
20,150,279
20,150,279
20,150,279
2,171,083
17,979,196
20,150,279		 -
2,427,795
1,978,519
4,406,314
(1,155,422)		 2022
£
6,007,828
9,145,575
2,217,000
17,370,403
3,250,892
20,621,295
20,621,295
20,621,295
2,214,525
18,406,770
20,621,295

The Charity's net movement in funds for the year was £ (471,021) (2022 - £1,752,290) .

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 26 September 2023

_______ 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 2023

Note
Cash flows from operating activities
Net cash used in operating activities
23
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
Proceeds from sale of investment property
Net cash provided by/(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
24
The notes on pages 25 to 60 form part of these financial statements		 2023
£
349,447
369,650
-
(1,634,491)
1,661,304
(1,673,715)
2,300,000
1,022,748
-
1,372,195
2,306,717
3,678,912		 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

Page 24

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2023

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 2023

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 2023

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 2023

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

Donations, covenants and tributes
Legacies and bequests		 Unrestricted
funds
2023
£
1,119,127
1,630,528
2,749,655		 Restricted
funds
2023
£
172,607
-
172,607		 Total
funds
2023
£
1,291,734
1,630,528
2,922,262

Page 29

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

3. Income from donations and legacies (continued)

Donations, covenants and tributes
Legacies and bequests		 Unrestricted
funds
2022
£
1,425,416
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

4. Income from charitable activities

Income from charitable activities - Inpatient Unit & Acute Hospital Support
Income from charitable activities - Community Care
Income from charitable activities - Supportive Care
Government grants received
Total 2023		 Unrestricted
funds
2023
£
2,587,100
2,722,216
596,839
-
5,906,155		 Total
funds
2023
£
2,587,100
2,722,216
596,839
-
5,906,155
Income from charitable activities - Inpatient Unit & Acute
Hospital Support
Income from charitable activities - Community Care
Income from charitable activities - Supportive Care
Government grants received
Total 2022		 Unrestricted
funds
2022
£
2,543,855
2,638,840
730,029
2,513
5,915,237		 Restricted
funds
2022
£
-
-
-
1,267,832
1,267,832		 Total
funds
2022
£
2,543,855
2,638,840
730,029
1,270,345
7,183,069

Page 30

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. Income from other trading activities

Income from non charitable trading activities

Other income
Fundraising events
Rent income
Trading income
Lottery income		 Unrestricted
funds
2023
£
102,785
277,651
18,960
2,613,642
655,623
3,668,661		 Restricted
funds
2023
£
30,247
-
-
-
-
30,247		 Total
funds
2023
£
133,032
277,651
18,960
2,613,642
655,623
3,698,908
Other income
Fundraising events
Trading income
Lottery income		 Unrestricted
funds
2022
£
290,450
211,631
2,257,893
677,177
3,437,151		 Restricted
funds
2022
£
167,309
-
-
-
167,309		 Total
funds
2022
£
457,759
211,631
2,257,893
677,177
3,604,460

Page 31

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

6. Income from charitable activites by category

Inpatient Units & Acute Hospital Support
Community Care
Supportive Care
Total 2023
Inpatient Units & Acute Hospital Support
Community Care
Supportive Care
Government (Covid) Grants
Total 2022		 Health
Authority
and NHS
Lincolnshire
contracts
2023
£
2,587,100
2,722,216
363,219
5,672,535
Health
Authority and
NHS
Lincolnshire
contracts
£
2,543,855
2,638,840
356,056
-
5,538,751		 Other charges
and
contributions
2023
Grants
received
2023
£
£
-
-
-
-
38,757
194,863
38,757
194,863
Other
charges and
contributions
Other grants
received
£
£
-
-
-
-
151,972
222,001
1,267,832
2,513
1,419,804
224,514		 Other charges
and
contributions
2023
Grants
received
2023
£
£
-
-
-
-
38,757
194,863
38,757
194,863
Other
charges and
contributions
Other grants
received
£
£
-
-
-
-
151,972
222,001
1,267,832
2,513
1,419,804
224,514		 Total
funds
2023
£
2,587,100
2,722,216
596,839
5,906,155
Total
funds
£
2,543,855
2,638,840
730,029
1,270,345
7,183,069

7. Investment income

Unrestricted
funds
2023
£
Dividends and other income from investment portfolio
284,963
Bank interest receivable and similar income
84,689
Total 2023
369,652		 Total
funds
2023
£
284,963
84,689
369,652

Page 32

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

7. Investment income (continued)

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

8. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted
funds
2023
£
Direct other costs
360,730
Allocated support costs
326,536
Direct staff costs
446,762
Total 2023
1,134,028		 Total
funds
2023
£
360,730
326,536
446,762
1,134,028

Page 33

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8. Expenditure on raising funds (continued)

Costs of raising voluntary income (continued)

Unrestricted
funds
2022
£
Direct other costs
334,159
Allocated support costs
268,381
Direct staff costs
383,964
Total 2022
986,504
Fundraising trading expenses
Unrestricted
funds
2023
£
Direct other costs including costs of goods sold and lottery prizes
2,712,897		 Total
funds
2022
£
334,159
268,381
383,964
986,504
Total
funds
2023
£
2,712,897

Page 34

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2022		 Unrestricted
funds
2022
£
1,682,118
459,291
2,141,409		 Restricted
funds
2022
£
58,445
-
58,445		 Total
funds
2022
£
1,740,563
459,291
2,199,854

Page 35

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8. Expenditure on raising funds (continued) Other trading expenses (continued)

Depreciation of fixtures and fittings
9.
Investment management costs

Investment management costs
Investment management costs		 Unrestricted
funds
2022
£
423
Unrestricted
funds
2023
£
32,436
Unrestricted
funds
2022
£
30,904		 Total
funds
2022
£
423
Total
funds
2023
£
32,436
Total
funds
2022
£
30,904

10. Analysis of expenditure on charitable activities Summary by fund type

Inpatient Unit & Acute Hospital Support
Community Care
Supportive Care
Total 2023		 Unrestricted
funds
2023
£
3,497,100
4,097,770
1,574,429
9,169,299		 Restricted
funds
2023
£
94,459
146,545
4,031
245,035		 Total
2023
£
3,591,559
4,244,315
1,578,460
9,414,334

Page 36

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10. Analysis of expenditure on charitable activities (continued)

Summary by fund type (continued)

Inpatient Unit & Acute Hospital Support
Community Care
Supportive Care
Total 2022		 Unrestricted
funds
2022
£
3,364,249
3,038,175
1,386,912
7,789,336		 Restricted
funds
2022
£
171,145
1,137,316
3,331
1,311,792		 Total
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 2023
Inpatient Unit & Acute Hospital Support
Community Care
Supportive Care
Total 2022		 Activities
undertaken
directly
2023
£
2,817,777
2,747,398
1,022,253
6,587,428
Activities
undertaken
directly
2022
£
3,226,288
3,426,098
1,096,844
7,749,230		 Support
costs
2023
£
773,782
1,496,917
556,207
2,826,906
Support
costs
2022
£
309,106
749,393
293,399
1,351,898		 Total
funds
2023
£
3,591,559
4,244,315
1,578,460
9,414,334
Total
funds
2022
£
3,535,394
4,175,491
1,390,243
9,101,128

Page 37

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes		 Group
2023
£
8,448,191
669,362
678,963
9,796,516		 Group
2022
£
7,942,042
527,001
583,277
9,052,320		 Charity
2023
£
8,448,191
669,362
678,963
9,796,516		 Charity
2022
£
7,482,751
527,001
583,277
8,593,029

The average number of persons employed by the Charity during the year was as follows:

Nursing and care services
Fund raising and publicity
Administration
Management
Support services		 Group
2023
No.
148
59
22
6
19
254		 Group
2022
No.
143
82
17
4
19
265		 Charity
2023
No.
148
59
22
6
19
254		 Charity
2022
No.
143
60
17
4
19
243

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

Group Group
2023 2022
No. No.
In the band £60,001 - £70,000 7 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 1,280 (701: 2021-2022) volunteers working for it during 2022-23. 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 5 (2022 - 4) key management personnel were £475,851 (2022 - £380,346).

Page 38

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 31 March 2023, expenses totalling £ 55 were reimbursed or paid directly to Trustee (2022 - £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 2023		 NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023		 NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023		 NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
14.
Tangible fixed assets
Group
Cost or valuation
At 1 April 2022
Additions
Transfers between classes
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
Transfers between classes
At 31 March 2023
Net book value
At 31 March 2023		 Freehold
property
£
7,329,996
9,562
1,569,840
8,909,398
2,360,261
158,831
-
2,519,092
6,390,306		 Long-term
leasehold
property
£
1,592,077
-
8,479
1,600,556
1,155,255
404
(15,873)
1,139,786
460,770		 Motor
vehicles
£
28,917
-
-
28,917
28,917
-
-
28,917
-		 Fixtures and
fittings
Assets in
progress of
construction
£
£
1,598,331
111,343
335,133
1,278,749
122,903
(1,313,108)
2,056,367
76,984
1,149,352
-
167,956
-
5,891
-
1,323,199
-
733,168
76,984		 Shops'
improvemen
ts and
fittings
£
773,286
11,047
-
784,333
713,433
30,258
-
743,691
40,642		 Total
£
11,433,950
1,634,491
388,114
13,456,555
5,407,218
357,449
(9,982)
5,754,685
7,701,870

Page 40

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14. Tangible fixed assets (continued)

Group (continued)

Shops'
Long-term Assets in improvemen
Freehold leasehold Motor Fixtures and progress of ts and
property property vehicles fittings construction fittings Total
£ £ £ £ £ £ £
At 31 March 2022 4,969,735 436,822 - 448,979 111,343 59,853 6,026,732

The net book value of freehold land and buildings includes £2,118,858 (2022 - £2,186,751) in respect of restricted fund assets (note 23).

Capital commitments at 31 March 2023 amounted to £nil (2022 - £nil).

Page 41

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14.
Tangible fixed assets (continued)
Charity
Cost or valuation
At 1 April 2022
Additions
Transfers between classes
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023		 Freehold
property
£
7,286,741
9,562
1,613,095
8,909,398
2,360,261
158,831
2,519,092		 Long-term
leasehold
property
£
1,600,556
-
-
1,600,556
1,139,382
404
1,139,786		 Motor
vehicles
£
28,917
-
-
28,917
28,917
-
28,917		 Fixtures and
fittings
Assets in
progress of
construction
£
£
1,604,221
111,343
335,133
1,278,749
117,013
(1,313,108)
2,056,367
76,984
1,155,243
-
167,956
-
1,323,199
-		 Shop's
improvemen
ts and
fittings
£
773,286
11,047
-
784,333
713,433
30,258
743,691		 Total
£
11,405,064
1,634,491
417,000
13,456,555
5,397,236
357,449
5,754,685

Page 42

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

14. Tangible fixed assets (continued)

Charity (continued)

Net book value
At 31 March 2023
At 31 March 2022		 Freehold
property
£
6,390,306
4,926,480		 Long-term
leasehold
property
£
460,770
461,174		 Motor
vehicles
£
-
-		 Fixtures and
fittings
£
733,168
448,978		 Assets in
progress of
construction
£
76,984
111,343		 Shop's
improvemen
ts and
fittings
Total
£
£
40,642
7,701,870
59,853
6,007,828		 Shop's
improvemen
ts and
fittings
Total
£
£
40,642
7,701,870
59,853
6,007,828
6,007,828

The net book value of freehold land and buildings includes £2,118,858 (2022 - £2,186,751) in respect of restricted fund assets (note 23).

Capital commitments at 31 March 2023 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 2023

15.
Investment property
Group
At 1 April 2022
Disposals
At 31 March 2023
Charity
At 1 April 2022
Disposals
Transfers between classes
At 31 March 2023		 Freehold
investment
property
£
1,800,000
(1,800,000)
-
Freehold
investment
property
£
2,217,000
(1,800,000)
(417,000)
-

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 £Nil (2022 - £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. The investment property in relation to St Annes Road was sold in the current financial year.

Page 44

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16. Fixed asset investments

Group
Cost or valuation
At 1 April 2022
Additions
Disposals
Revaluations
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Investments
in
subsidiary
companies
£
2
-
(2)
-
-
-
2		 Listed
investments
£
8,968,816
1,673,715
(1,661,304)
(565,195)
8,416,032
8,416,032
8,968,816		 Cash held
as part of
the
investment
portfolio
£
176,755
1,661,304
(1,673,715)
(50,951)
113,393
113,393
176,755		 Total
£
9,145,573
3,335,019
(3,335,021)
(616,146)
8,529,425
8,529,425
9,145,573

Page 45

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16. Fixed asset investments (continued)

There were no investment assets outside the UK.

2023 2022
£
 £
Cost of listed investments at 31 March 2023 7,754,330 7,886,801

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 2023

16. Fixed asset investments (continued)

Charity
Cost or valuation
At 1 April 2022
Additions
Disposals
Revaluations
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Investments
in
subsidiary
companies
£
4
-
(2)
-
2
2
4		 Listed
investments
£
8,968,816
1,673,715
(1,661,304)
(565,195)
8,416,032
8,416,032
8,968,816		 Cash held
as part of
the
investment
portfolio
£
176,755
1,661,304
(1,673,715)
(50,951)
113,393
113,393
176,755		 Total
£
9,145,575
3,335,019
(3,335,021)
(616,146)
8,529,427
8,529,427
9,145,575

Page 47

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 352,723 4,017
Promotions Limited

St Barnabas Promotions Limited donates substantially all profits to the St Barnabas Hospice Trust (Lincolnshire) under the Gift Aid Scheme. St Barnabas Shops Limited was dormant throughout the year and dissolved on 25 April 2023.

Page 48

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17. Stocks

Finished goods and goods for resale
18.
Debtors
Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
Tax recoverable		 Group
2023
£
27,314
Group
2023
£
194,218
-
10,039
1,522,210
51,106
1,777,573		 Group
2022
£
65,848
Group
2022
£
34,681
-
4,513
2,261,129
23,882
2,324,205		 Charity
2023
£
24,431
Charity
2023
£
194,218
78,774
10,039
1,514,953
51,106
1,849,090		 Charity
2022
£
-
Charity
2022
£
34,681
112,772
4,513
2,251,947
23,882
2,427,795

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
2023
£
56,147
338,129
51,050
101,028
900,503
1,446,857		 Group
2022
£
68,990
365,210
26,858
90,954
712,680
1,264,692		 Charity
2023
£
-
338,102
51,050
101,028
892,141
1,382,321		 Charity
2022
£
-
362,864
8,503
90,756
693,299
1,155,422

Page 49

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

DEFERRED INCOME
Deferred income at 1 April 2022
Resources deferred during the year
Amounts released from previous periods		 Group
2023
£
297,629
296,064
(297,629)
296,064		 Group
2022
£
551,696
297,629
(551,696)
297,629		 Charity
2023
£
297,629
296,064
(297,629)
296,064		 Charity
2022
£
551,696
297,629
(551,696)
297,629

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

Page 50

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

20. Statement of funds

Statement of funds - current year

Unrestricted
funds
Designated
funds
Grantham
Wellbeing
Inpatient Unit
Lincoln
Wellbeing
Boston shop
relocation
General funds
Revenue
Reserves
Revaluation
Reserves
Fixed Asset
Fund
Investment
Reserve
Total
Unrestricted
funds
Restricted
funds
Other restricted
funds
Boston
Wellbeing		 Balance at 1
April 2022
£
200,000
1,400,000
100,000
-
1,700,000
4,391,627
194,696
3,839,975
7,886,801
16,313,099
18,013,099
27,778
664,209		 Income
£
-
-
-
-
-
12,694,123
-
-
-
12,694,123
12,694,123
202,854
-		 Expenditure
£
-
-
-
-
-
(12,758,785)
-
(289,551)
-
(13,048,336)
(13,048,336)
(177,141)
(20,861)		 Transfers
in/out
£
75,000
(1,400,000)
300,000
150,000
(875,000)
(1,781,904)
580,399
2,032,587
442,014
1,273,096
398,096
-
-		 Gains/
(Losses)
£
-
-
-
-
-
500,000
-
-
(574,485)
(74,485)
(74,485)
-
-		 Balance at
31 March
2023
£
275,000
-
400,000
150,000
825,000
3,045,061
775,095
5,583,011
7,754,330
17,157,497
17,982,497
53,491
643,348

Page 51

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

20. Statement of funds (continued)

Statement of funds - current year (continued)

Fixed asset
fund
Total of funds		 Balance at 1
April 2022
£
1,522,542
2,214,529
20,227,628		 Income
£
-
202,854
12,896,977		 Expenditure
£
(47,033)
(245,035)
(13,293,371)		 Transfers
in/out
£
-
-
398,096		 Gains/
(Losses)
£
-
-
(74,485)		 Balance at
31 March
2023
£
1,475,509
2,172,348
20,154,845

Page 52

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

20. Statement of funds (continued) Statement of funds - prior year

Unrestricted funds
Designated funds
Grantham Wellbeing
Inpatient Unit
Lincoln Wellbeing
General funds
Fixed Asset Fund
Revenue Reserves
Revaluation Reserve
Investment Reserve		 Balance at
1 April 2021
£
100,000
2,000,000
500,000
2,600,000
3,332,682
3,023,804
1,101,914
6,366,642
13,825,042		 in funds
£
-
-
-
-
168,405
11,954,082
-
-
12,122,487		 Expenditure
£
-
-
-
-
(491,626)
(10,456,950)
-
-
(10,948,576)		 Taxation
£
-
-
-
-
-
237
-
-
237		 between
funds
£
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 53

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

20. Statement of funds (continued)
Statement of funds - prior year (continued)
Total Unrestricted funds
Restricted funds
Other restricted funds
Boston Wellbeing
Fixed asset fund
Total of funds		 Balance at
1 April 2021
£
16,425,042
1,600,077
452,305
-
2,052,382
18,477,424		 in funds
£
12,122,487
1,311,726
220,659
-
1,532,385
13,654,872		 Expenditure
£
(10,948,576)
(1,361,484)
(8,754)
-
(1,370,238)
(12,318,814)		 Taxation
£
237
-
-
-
-
237		 between
funds
£
-
(1,522,542)
-
1,522,542
-
-		 Gains/
(Losses)
£
413,909
-
-
-
-
413,909		 Balance at
31 March
2022
£
18,013,099
27,777
664,210
1,522,542
2,214,529
20,227,628

21. Summary of funds

Page 54

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

21. Summary of funds (continued)

Summary of funds - current year

Designated funds
General funds
Restricted funds
Summary of funds - prior year
Designated funds
General funds
Restricted funds		 Balance at
1 April 2021
£
2,600,000
13,825,042
2,052,382
18,477,424		 Balance at 1
April 2022
£
1,700,000
16,313,099
2,214,529
20,227,628
in funds
£
-
12,122,487
1,532,385
13,654,872		 Income
£
-
12,694,123
202,854
12,896,977
Expenditure
£
-
(10,948,576)
(1,370,238)
(12,318,814)		 Expenditure
£
-
(13,048,336)
(245,035)
(13,293,371)
Taxation
£
-
237
-
237		 Transfers
in/out
£
(875,000)
1,273,096
-
398,096
Transfers
in/out
£
(900,000)
900,000
-
-		 Gains/
(Losses)
£
-
(74,485)
-
(74,485)
Gains/
(Losses)
£
-
413,909
-
413,909		 Balance at
31 March
2023
£
825,000
17,157,497
2,172,348
20,154,845
Balance at
31 March
2022
£
1,700,000
16,313,099
2,214,529
20,227,628

Page 55

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

22. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Tangible fixed assets
5,583,011
Fixed asset investments
8,529,425
Current assets
5,316,918
Creditors due within one year
(1,446,857)
Total
17,982,497		 Restricted
funds
2023
£
2,118,859
-
53,489
-
2,172,348		 Total
funds
2023
£
7,701,870
8,529,425
5,370,407
(1,446,857)
20,154,845

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Rounding
Total		 Unrestricted
funds
2022
£
3,839,975
9,145,571
1,800,000
4,492,244
(1,264,692)
1
18,013,099		 Restricted
funds
2022
£
2,186,757
-
-
27,773
-
-
2,214,530		 Total
funds
2022
£
6,026,732
9,145,571
1,800,000
4,520,017
(1,264,692)
1
20,227,629

Page 56

(A company limited by guarantee)

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Charity
Analysis of net assets between funds - current period
Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Analysis of net assets between funds - prior period
Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year		 Unrestricted
funds
2023
£
5,583,011
8,529,427
-
5,351,895
(1,485,139)
17,979,194
Unrestricted
funds
2022
£
3,821,076
9,145,574
2,217,000
4,355,045
(1,155,422)
18,383,273		 Restricted
funds
2023
£
2,118,859
-
-
52,225
-
2,171,084
Restricted
funds
2022
£
2,186,752
-
-
27,773
-
2,214,525		 Total
funds
2023
£
7,701,870
8,529,427
-
5,404,120
(1,485,139)
20,150,278
Total
funds
2022
£
6,007,828
9,145,574
2,217,000
4,382,818
(1,155,422)
20,597,798

Page 57

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

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 £5.184 million (2022 - £3.839 million) which includes the land purchased for the Estate.

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

2023
 2022
£ £
Unrealised gains at 1 April 2022
 1,648,518 1,235,609
Amounts realised through investment disposal in year (144,694) 729,654
Net gain / (loss) arising on revaluation in year (429,791) (315,745)
Transfer -
 -
_ __
Unrealised gains at 31 March 2023
 1,075,033 1,648,518
_ __

The revaluation reserve in the Charity Statement of Financial Position also includes the loss on investment properties of £Nil (2022 - £Nil) and a transfer to the revenue reserve of £907,218 (2021 £Nil), resulting in the revaluation reserve totalling £775,095 (2022 - £373,744).

Page 58

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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

Net income/expenditure for the year (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Revaluation of 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
Prrofit on sale of investment property
Realised (gains)/losses from investments
Net cash provided by operating activities		 Group
2023
£
(470,879)
357,449
420,500
(369,650)
-
38,534
546,631
182,165
-
(500,000)
144,697
349,447		 Group
2022
£
1,750,204
315,463
413,909
(285,642)
(193,440)
38,798
(652,726)
(279,557)
(237)
-
-
1,106,772

24. Analysis of cash and cash equivalents

Cash in hand
Investment income
Total cash and cash equivalents		 Group
2023
£
3,565,519
113,393
3,678,912		 Group
2022
£
2,129,963
176,754
2,306,717

Page 59

ST BARNABAS HOSPICE TRUST (LINCOLNSHIRE)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

25. Analysis of changes in net debt

Cash at bank and in hand At 1 April
2022
£
2,129,964
2,129,964		 Cash flows
£
1,372,195
1,372,195		 Changes in
market
value and
exchange
rate
movements
£
63,361
63,361		 At 31 March
2023
£
3,565,520
3,565,520

26. Operating lease commitments

At 31 March 2023 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
2023
£
259,337
54,105
313,442		 Group
2022
£
302,759
239,348
542,107		 Charity
2023
£
259,337
54,105
313,442		 Charity
2022
£
302,759
239,348
542,107

27. Related party transactions

Indemnity insurance has been purchased on behalf of the Trustees at a cost of £1,326 (2022 - £702) for the year.

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 £2,400 (2022 - £1,921) and at the year end an amount of £Nil (2021 - £Nil) was outstanding.

Page 60