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2023-03-31-accounts

St Peter & St James Charitable Trust

Annual Report and Consolidated Financial Statements

Year ended 31 March 2023

Charity number 1056114

Company number 3204919

Contents
About St Peter & St James Hospice 4
Statement from the Chief Executive and Chair 4
Our Mission 5
Our Values 5
Our Strategy 5
Services Review 6
Beneficiary overview 6
Inpatient Unit 6
Community Services 6
Supportive Care Services 7
Clinical Governance 7
Clinical Audit 7
Safeguarding 8
Feedback 8
Freedom to Speak Up 10
Research 10
Learning & Development 10
Sussex Hospices Collaboration 11
Our Income Generation Activities 11
Our Volunteers 12
Structure, Governance and Management 12
Our People 14
Trustees 14
Patrons 14
Executive Team 14
Risk Management 15
Our Financial Performance 2022/23 16
Financial Outlook 2023/24 17
Independent Auditors Report to the Members and Trustees of St Peter & St James Charitable Trust 19
Opinion 19

2

Basis for opinion 19
Conclusions relating to going concern 19
Other information 20
Opinions on other matters prescribed by the Companies Act 2006 20
Matters on which we are required to report by exception 20
Responsibilities of trustees 20
Auditor's responsibilities for the audit of the financial statements 21
Use of report 22
Statement of Consolidated Financial Activities (incorporating an income and expenditure account) for the year
ended 31 March 2023 23
Balance Sheets as at 31 March 2023 24
Consolidated Cash Flow Statement as at 31 March 2023 25
Principal Accounting Policies 26
Supporting Notes to Financial Statements 30
Key Addresses 47

3

About St Peter & St James Hospice

Statement from the Chief Executive and Chair

We are immensely proud of the quality of care provided by St Peter & St James Hospice staff and volunteers. In our first complete year as Chief Executive and Chair respectively, we have seen the charity progress and develop in many areas, not least the extension of reach with more people using our much-needed services than ever before. However, we firmly believe that quantity is nothing without quality, and applaud the staff and volunteers involved who continuously go the extra mile to ensure our patients, and those close to them, receive the best possible care, in the right place, at the right time.

This year was incredibly challenging for us, like all hospices and many other charities, as we adapted to the ever-changing world around us. The pandemic has affected operations at multiple levels and its impact will be felt for many years to come. Additionally, the NHS is undergoing a period of radical change in the transition to Integrated Care Systems and despite a willingness to support hospices, there is insufficient funding available to contribute more to the services we provide.

Our hospice is firmly rooted in our community and without the generosity of our loyal donors it would simply be impossible to provide the care our population needs when living, and dying, with advanced illness. We take this opportunity to thank each and every one of our staff, volunteers, and donors (including those who donate to and buy from our charity shops)– they really make a difference.

Dr Martin Powell Chief Executive

Harriet Creamer Chair

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Our Mission

St Peter & St James Hospice provides expert care to adults living with a life-limiting illness in our community. Our support extends to friends and families too. Our community includes Burgess Hill, Haywards Heath, Lewes, Uckfield and everywhere in between.

We support people to live and die well, according to what matters most to them. Our mission is to provide the best possible care, in the right place, at the right time, to everyone who needs us. Our workforce is committed to excellence in all they do.

Our Values

Our values are at the heart of our organisation and underpin everything we do. They define who we are, how we work and what we believe in and stand for:

Compassion We show everyone empathy, kindness, and respect.
Integrity We do the right thing, no matter how challenging.
Accountability We take responsibility for our actions and outcomes.
Excellence We strive to be outstanding and aim to exceed expectations.
Inclusivity We welcome and respect everyone.

Our Strategy

People affected by life-limiting illness are central to everything we do, and our strategy is designed to ensure they receive the best possible care, in the right place, at the right time. To achieve this, we need a skilled workforce which is committed to excellence and prepared to deliver care and support to everyone who needs us, not the select few.

We have adopted a culture of continuous improvement, striving for excellence and will remain agile, professional and responsive. We cannot do this without financial stability, clear operating models and effective collaboration with all our stakeholders.

While we focus on our impact in the local community, we must also face the crisis of climate change. As an organisation we have a duty to do what we can to reduce our impact on the environment. To do this we have a goal of net zero emissions by 2030.

Our strategic goals for 2022 – 2025 are:

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Highly Excellent
Financial Community Net Zero
skilled care and
stability recognition Emissions
workforce support
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5

Services Review

Beneficiary overview

Despite the inevitable challenges in recovering from the effects of the pandemic, such as loss of income and staff absences, we increased service activity levels in every area:

Indicator 2021 – 2022 2022 – 2023 Increase
New Patient Referrals 638 688 8%
Total Patients Supported 773 864 12%
Non-patients Supported 168 174 4%
Occupied Bed Days 1754 1955 11%
Bereavement Clients 90 97 8%
Community Patients 639 693 8%
Preferred Place of Death Recorded 376 636 69%

Inpatient Unit

Our inpatient unit (IPU) provides skilled end-of-life and palliative care to those who need specialist help with symptom management. 161 patients were cared for during the year on our IPU. Despite the well-known challenges with recruiting Registered Nurses, we increased our occupancy from 1754 bed days in the previous year, to 1955 bed days in 2022-23.

In addition to our specialist palliative care beds, the hospice supported the Integrated Care Board to cope with the winter pressures last year with an inpatient nurse-led service, for transferred hospital patients who were approaching the end of their lives.

Community Services

Our community services are evolving to meet the needs of our community. We have adapted the skill mix within the community team and in addition to our Clinical Nurse Specialists, we have Registered Nurses and Palliative Care Assistants.

We supported 693 patients in community settings including their own home, care homes, outpatient appointments and virtual conversations compared to 639 in the previous year. We are available 24/7 to support patients, families and health and social care professionals.

Our team attends regular primary care meetings with GP surgeries and weekly virtual meetings with community nursing services to enhance the care given to patients. We invested additional funds in a project to scope the provision of a dedicated hospice line service across East Sussex.

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Supportive Care Services

It was a busy and productive year for the supportive care services, and the team supported many patients and those close to them. This support includes counselling before and after the patient dies.

Our Social Worker proved invaluable in raising the profile of safeguarding and enhanced multi professional practice. Our Supportive Care team are responsive to needs which include benefits advice, financial planning and signposting to appropriate services when required.

Our Living Well Centre has reopened its doors since temporarily closing due to Covid.

Organised activities include those listed in the boxes opposite (descriptions of each activity can be found on our website here):

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The Watering Hole
Art Therapy
Your Life, Your Story
Ask an Occupational Therapist
Relaxation
Writing for Wellbeing
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Clinical Governance

We ensure all aspects of governance are robust and effective. Our Quality and Safety Committee is chaired by an experienced trustee, and close scrutiny of current and expected inputs and outputs is a key function of the committee.

During this year, we established a Clinical Effectiveness Group (CEG) to oversee our programme of Clinical Audit and Quality Improvement Priorities (QIPs). All members of the Group undertook online training with HQIP (the UK’s largest national clinical audit commissioner).

Clinical Audit

The Clinical Effectiveness Group has overseen the following Clinical Audits this year.

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Safeguarding

We raised the profile of safeguarding over the last year and will continue to do so as a Quality Improvement Priority (QIP) for 2023/24, to strengthen awareness and engagement across all hospice services. Hospice clinical leaders have embedded safeguarding into community services and in-patient multidisciplinary team (MDT) meetings.

Patient-facing staff members attended face to face training sessions which complemented the mandatory online training modules for both adults and children, and this additional training will also be rolled out to the wider organisation in the coming months.

A total of eight safeguarding concerns were raised by the multi-professional team (2022/23), and two were escalated for further discussion and assessment to our colleagues in adult social care.

Safeguarding supervision sessions for clinical staff are now in place, and improvements made in the level and depth of concerns being reported. The hospice teams engaged with the safeguarding adults audit devised by the Trustee Safeguarding Leads from the Sussex Hospices Collaborative, and the results will support the QIP and inform training, development and governance objectives for the coming year.

Feedback

We seek feedback from those who use our services in the form of ‘VOICES’ questionnaires (feedback from relatives about the care patients received before they died) and ‘Patients Experiences of Care’ (PEOC) questionnaires, which ask patients themselves about the care and support they receive. We receive very few negative comments in our patient and carer feedback, but when we do we analyse them carefully and ensure that any necessary lessons are learned. Responses to the PEOC are summarised as follows:

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100%
100%
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of patients would recommend us to others

of patients said they were treated with dignity and respect

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94%
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of patients said they were involved in decision making as much as they wanted

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Qualitative PEOC feedback included:

Care is given sympathetically all the time and each day nothing is too much trouble. I feel safe here and

extremely happy. Food is excellent, well prepared, hot enough but not too hot and nutritious. Staff very friendly, kind and helpful to family members at such an anxious time

This is my first-time having counselling with the hospice and I have been treated very well. I've only had a few sessions, but I look forward to each week, I already feel better since having someone to talk to, it's very helpful to me

When I knew I would be attending the Hospice it felt so surreal to me. The minute I walked into reception all my fears went away -the smiling friendly faces of the reception staff, the lovely doctor Becky and the welfare officer filled me with a huge sense of safety, love and care. Thank you, all of you

My husband contacted doctor to get a referral to hospice for advice on pain management. A lovely nurse called, did a home visit a few days after. Follow up call from Jon following the referral. Liz referred me (wife) for counselling which I am starting to engage in. My husband's pain is under control, and he is active again, Liz VOICES feedback included: keeps in touch, we are so pleased we have your support now and in the future

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100%
100%
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thought our catering met all dietary requirements/appropriate portion sizes

thought IPU care was outstanding

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Freedom to Speak Up

Freedom to Speak Up (FTSU) is a national initiative to enable people (staff and volunteers) to raise concerns when they feel unable to use the typical channels. Speaking Up is encouraged and widely promoted because we know it can improve the quality and safety of our care. We want to make speaking up business as usual for everyone, regardless of job role, background, or circumstance.

Statistics for 2022/23:

Research

St Peter and St James Hospice is participating in the ‘CHELsea II’ (Cluster Randomised Trial of Clinical Assisted Hydration in Patients in the Last Days of Life) clinical trial, sponsored by the University of Surrey in May 2022. We started recruiting patients in December 2022 and aim to recruit 20 participants by September 2024.

Learning & Development

We collaborated with other Sussex hospices and developed our bespoke learning platform ‘iLearn’ to encourage and ensure staff and volunteers completed their statutory and mandatory training. The platform contains a host of additional material for staff and volunteers who want to enhance their knowledge and gain further skills. The Learning Hub (formed in 2021) has aligned the delivery of and reporting on statutory training through sharing role-specific training plans across all staff groups and creating monthly strategic reports to track compliance, identify trends and highlight areas of concern.

We share staff with 3 other hospices, including a Learning and Development Coordinator and a Practice Educator to help us understand the training and development needs of our staff and volunteers. Training sessions included:

• Tissue viability • Diabetes • Distressed behaviour
• Hand washing • Wound care • Syringe drivers
• Mental health • Mouth care • Pain management
• Nutrition • Pressure ulcers • Nausea & vomiting

We developed a Clinical Skills Framework between 3 hospices that outlines the day-to-day skills required within key palliative care roles. We launched a Clinical Education Group to oversee educational activities and the development of staff, including competence frameworks and development pathways.

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Sussex Hospices Collaboration

The 7 Adult Hospices in Sussex formed a collaboration in 2018. This is overseen by a Steering Group, comprised of each hospice’s Chair of the Board of Trustees and Chief Executive. Considerable time was spent this year reviewing our purpose and identifying the most important priorities to benefit people affected by life-limiting conditions in our communities. The workstreams are:

Our Income Generation Activities

We reviewed our team structure and recruited staff with the skill and experience to help us achieve our ambitions. With a number of new campaigns, events and activities, and stronger collaboration with retail and marketing, we are driving our income generation through fundraising in a pro-active, purposeful way. We are growing our retail brand and using data and insights to focus our growth plans in areas where we know consumers react favourably, and reduce any non-profitable activity or projects not closely aligned with our core purpose.

We are registered with the Fundraising Regulator and comply with their code of conduct. We are committed to the highest standards in fundraising practice and data management whilst handling sensitive, personal data relating to our patients, supporters and staff. The hospice has a dedicated Information Governance Group, which develops policy based on compliance with GDPR and other data protection regulation.

We solicit donations by:

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Our Volunteers

372 volunteers supported the hospice this year. The long-term effects and outcomes of COVID influenced our volunteer workforce with many not returning after a long period of absence.

The Living Well Centre supports patients and carers with therapy sessions and our volunteer drivers assist with transport. Hospice biographers record patient stories at home, in the centre and on the IPU; the number of patients recording their life stories continues to rise steadily.

We received funding from The Big Give to offer skills and volunteering opportunities to people in our local rural community that have been affected by unemployment or lack of access to further education. Volunteers were recruited to provide support to patients staying with us and their families. Volunteers include retired nurses, students seeking experience for future clinical roles, and those that want to learn more about palliative care. From the original core group 4 students have used the opportunity to obtain university places, one volunteer has joined the unit as a member of staff, and another has used the experience to gain employment outside the organisation.

Volunteer numbers at the Distribution Centre continue to grow, including our Restore Shed project which involves upcycling furniture to sell in our shops: both raising funds for the hospice and reducing land fill waste.

Our Volunteer Forum meets quarterly to improve the volunteer experience and contribute to the organisation’s strategy. A volunteer engagement survey was launched in May 2022 and the Forum analysed the results and codesigned methods for improving communication and training, for example. We celebrate our volunteers with an annual awards ceremony, recognising long service and awarding for special contributions.

We implemented ‘Better Impact’, a bespoke personnel data base system for volunteer management in January 2022 to store volunteer personnel records, improve administrative processes and enable us to produce statistical reports and support volunteer managers to better manage their volunteer teams.

The Volunteer Team recruited an apprentice (undertaking a level 3 Business and Administration qualification), who was subsequently successfully recruited to a permanent role with us.

Structure, Governance and Management

St Peter & St James Charitable Trust (the “Charity”) is a Company limited by guarantee, not having a share capital. It is governed by a Board of Trustees operating in accordance with the Articles of Association adopted on 3 October 2018 (as amended on 17 October 2022).

The Hospice operates a number of shops selling principally donated goods. St Peter & St James Hospice Shops Ltd (“Shops”) is a wholly owned subsidiary of the charity whose main purpose is to sell a small range of new goods through the Hospice’s shops.

The Friends of St Peter & St James (“Friends”) is a ‘linked’ charity to St Peter & St James Charitable Trust.

The total of the three entities above is referred to in this report as the “Group”.

The Group is administered by a Board of Trustees that meets regularly throughout the year. The Chief Executive is appointed by the Trustees to manage our executive operations with the support of the Executive Team and has delegated authority for the day-to-day management of the Charity.

The following Committees support and report to the full Board throughout the financial year:

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Membership of all Committees includes both Trustees and members of the Senior Leadership Team.

The Board Development Committee is responsible for overseeing Hospice governance and for the recruitment, induction and training of Trustees. It uses a skills and experience audit to determine the skills requirements for new Trustees when a vacancy arises, ensuring the Board and its Committees have the requisite skills and experience to function effectively.

Trustee vacancies are advertised on the Hospice website and Hospice social media channels and prospective Trustees are shortlisted for interview. Following a successful interview, a recommendation is made to the Board which then decides whether to appoint. Prospective Trustees are invited to a Board meeting as observers before the appointment decision.

Following the appointment, Trustees are provided with governance documentation and current operational reports and are offered a structured induction programme.

The term of office for individual Trustees is four years, with a maximum of one renewal. New Trustees appointed by the Board are subject to formal appointment at the next AGM. The position of Chair of Trustees is held for a maximum period of 5 years.

During 2022/23, the Executive Team comprised the Chief Executive, Care Director (appointed November 2022), Finance Director (whose services are provided via a Service Level Agreement with St Catherine’s Hospice), Director of Income Generation and Operations, Head of Finance (resigned April 2022), and Head of People Services, working with the Trustees to provide leadership and direction to the organisation.

The Senior Leadership Team is made up of Heads of Service and managers responsible for the delivery of services and activities.

The Chief Executive’s salary is determined using an independent salary survey, developed in association with Hospice UK. Senior Leadership Team salaries are part of a pay structure that was created in 2021 following a systematic job evaluation of all roles within the hospice, using an independent job evaluation and benchmarking tool.

Collaboration and coordination are key in enabling the Charity to provide excellent personalised care. As well as the collaboration with other Sussex Hospices already referred to, the Hospice strives to maintain good working relationships with local GPs, Integrated Care System, Local Authorities and other healthcare providers and charities, including other Hospices.

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Our People

Trustees Patrons
Charlotte Almond (appointed 7 December 2022) Anne Billson
Dr Nick Barrie The Viscount Brentford
Michael Carey (appointed 7 December 2022) Sir Edward Cazalet
Caroline Cauvin Katie Derham
Andrew Cook Edward Fox OBE
Harriet Creamer (Chair) Piers Morgan
John Hills Lisa Welton
Robin Knight Emma Cleary
Isabelle Otway Toby Wittome
Karol Matthews
Deirdre Prower (Vice Chair)
Patricia Robinson
Lesley Strong
Executive Team Executive Team
Chief Executive: Dr Martin Powell
Care Director: Eirian Levell (appointed 1 November 2022)
Finance Director: Cathy Heard (via SLA, from 1 June 2022)
Director of Income Generation & Operations: Giles Witcomb (resigned 21 April 2023)
Head of People Services: Melissa Le Palud
Head of Finance: Andrew Collins (resigned 17 June 2022)

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Risk Management

The Trustees, together with the Senior Leadership Team, regularly review and monitor risks the charity is exposed to and ensure that appropriate controls are put in place to mitigate risks.

Risks are monitored in four key areas linked to our committee structure: Finance and Resources, Quality and Safety, Income Generation and People.

Risks are reviewed regularly by the risk owners in the Senior Leadership Team and changes reviewed and discussed in Committee meetings and by the full Board.

The top risks currently identified by the organisation are:

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Our Financial Performance 2022/23

Income and Expenditure

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Income Expenditure
£5.6m £5.7m
Donations 1.3 Donations 0.6
Legacies 1.4 Trading Activities 1.9
Trading Activities 1.9 Charitable Activities 3.2
Charitable Activities 0.9
Investment Income 0.0
Other Income 0.1
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Reserves and Cash

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Reserves Cash
£6.4m £3.2m
Unrestricted Reserves 6.1 Investments 0.5
Designated Reserves 0.2 Current Asset Investments 2.4
Restricted Reserves 0.1 Cash & Equivalents 0.3
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The impact of the pandemic on our operational delivery over the past couple of years is further heightened by the cost-of-living crisis. In this financial year our income was supported with increased legacies, including a further interim release from a Will Trust of £500k, as we re-establish and develop our voluntary income streams. We supported our statutory partners with additional beds as part of the winter pressures scheme which increased our income in the year.

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We ended the year with net expenditure of £0.1m, leaving reserves at £6.4m, free general reserves (unrestricted reserves less fixed assets) of £4.1m and a cash position of £3.2m.

Financial Outlook 2023/24

Operational Performance

Given the continued economic uncertainties, our budget for 2023/24 expects a net loss, moving our free general reserves position to approximately £3.0m. However, we are actively working to increase our voluntary income with a fresh focus on our fundraising activities and continued delivery of our retail strategy, whilst carefully managing our expenditure.

Reserves

The Trustees’ reserves policy is to maintain free reserves at a level that is sufficient to protect services from the potential financial impact of known significant risks over the short to medium term. The focus of this policy is aligned to Free General Reserves as these reserves support operational activities.

The Trustees’ objectives are:

The reserves position is monitored by the Finance and Resources Committee, which reports to the Board.

The policy sets the minimum level of free general reserves at £1m, and ideally representing a minimum of six months' full running costs, given the ongoing increase in the scale of Charity's activities and cost base. In recognition of the ongoing need for capital investment to replace and, where appropriate, enhance the Charity's assets, Trustees have created a Capital Replacement Fund.

The Group’s free reserves of £4,079,000 as at 31 March 2023 (2022: £3,448,000) is equivalent to 8 months’ running costs.

The Group’s designated capital replacement fund as at 31[st] March 2023 was £199,000 (2022: £81,000).

The net movement in reserves in the year is set out in Notes 19 to 22 to the accounts.

Market Value of Land and Buildings

All freehold land and buildings shown as Fixed Assets in the Balance Sheet are included in the financial statements at cost or open market value if lower. In the opinion of the Directors, the open market value of the freehold land and buildings is not less than the amounts shown in the financial statements.

Investments

The overall objective of the charity for its investments is to provide financial security and stability, recognising that the charity is exposed to a degree of financial risk due to the variable and uncertain nature of its income streams.

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The Trustees have agreed that the charity’s assets can be invested widely and should be diversified by asset class, by manager and by security. Asset classes could include cash, bonds, equities, property, hedge funds, structured products, private equity, commodities, and any other asset that is deemed suitable.

The charity seeks the best financial return within an acceptable level of risk. The charity has adopted an ethical investment policy to ensure that its investments do not conflict with its aims or can lead to reputational damage. For example, the Board does not support investment in funds that are contentious (e.g., tobacco, due to the evidence of harm from its use). The investment objective for the long-term fund over a rolling 5 year period is to achieve 2% over the Consumer Price Index.

The Finance and Resources Committee has responsibility for agreeing the investment strategy, setting benchmarks and monitoring the investment assets on a quarterly basis.

A formal evaluation of each fund managers’ performance and consideration of the need to undertake full market testing is undertaken every 3-5 years.

A significant element of the charity’s funds is held with Rathbone Investment Management.

Note 14 gives further information on the Investment position as at 31 March 2023.

Current Asset Investments

The Charity also holds funds in short-term, interest-bearing deposit accounts. Deposits in any one banking group are subject to a maximum investment of £450,000. Term deposits can be placed if cash flow projections show that the funds are temporarily surplus to operational requirements.

Going Concern

Having reviewed and formally agreed the forecasts and cashflows prepared in June 2023, together with the Executive’s business plan, the Trustees believe, to the best of their knowledge, that the charity remains a going concern for the 12 month period from the date of approval of the financial statements.

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Independent Auditors Report to the Members and Trustees of St Peter & St James Charitable Trust

Opinion

We have audited the financial statements of The St Peter & St James Charitable Trust (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 balance sheets, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the groups and parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material

inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, (who are also the directors of the parent charitable company for the purpose 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.

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In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts.

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

In identifying and assessing the risk of material misstatement in respect of irregularities, including fraud, we:

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006, Charities Act 2011, the parent charitable company's governing document, tax legislation and Charities (Protection and Social Investment) Act 2016. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements, including the annual report, and remaining alert to new or unusual transactions which may not be in accordance with the governing document.

The most significant laws and regulations that have an indirect impact on the financial statements are employment law, health and safety regulations and the UK General Data Protection Regulation (UK GDPR). We performed audit procedures to inquire of management and those charged with governance whether the group and parent charitable company are in compliance with these laws and regulations and inspected correspondence with regulatory authorities.

We identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included, but were not limited to, testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business and challenging judgments and estimates.

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Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/descriptionof-the-auditor%E2%80%99s-responsibilities-for

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/descriptionof-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor's report.

Use of 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 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Filsell FCA (Senior Statutory Auditor) for and on behalf of Knill James LLP

Chartered Accountants Statutory Auditor

One Bell Lane Lewes East Sussex BN7 1JU

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Statement of Consolidated Financial Activities (incorporating an income and expenditure account) for the year ended 31 March 2023

Note
Income
Donations & Legacies
2
Trading Activities
4
Charitable Activities
5
Investments
3
Other Income
Total Income
Expenditure
Fundraising & Investment Activities
Trading Activities
Charitable Activities
Total Expenditure
6
Net Income / (Expenditure) on
Operational Activities
Net Gains / (Losses) on Investments
14,15
Net Income / (Expenditure) for the
Year
8
Transfer Between Funds
20,21
Net Movement in Funds
Funds B/F as at 1st April
Funds Carried Forward as at 31st
March		 Restricted
Designated
Unrestricted
Total
Funds
2023
£'000's
£'000's
£'000's
£'000's
154
0
2,540
2,694
0
0
1,904
1,904
141
0
785
926
0
0
29
29
0
0
60
60
295
0
5,318
5,613
0
0
611
611
0
5
1,910
1,915
245
0
2,928
3,173
245
5
5,449
5,699
50
(5)
(131)
(86)
0
0
(29)
(29)
50
(5)
(160)
(115)
0
(2,800)
2,800
0
50
(2,805)
2,640
(115)
42
3,004
3,448
6,494
92
199
6,088
6,379		 Total
Funds
2022
£'000's
2,400
1,857
893
12
0
5,162
514
1,265
2,992
4,771
391
7
398
0
398
6,096
6,494

All gains and losses arising in the current and previous year have been recognised in the Statement of Financial Activities and arise from continuing activities.

The prior year comparators for each fund included above are included in notes 27 to 31.

The notes on pages 26 to 46 form part of these financial statements.

23

Balance Sheets as at 31 March 2023

Company Registration No. 3204919

Notes
Fixed Assets
Tangible Assets
13
Investments
14
Current Assets
Investments
15
Stock
16
Debtors
17
Cash at Bank
Current Liabilities
Creditors: amounts falling due within one
year
18
Net Current Assets
Total Assets less Current Liabilities
Creditors: amounts falling due greater
one year
Total Net Assets
The Funds of the Charity
Restricted Funds
20
Designated Funds
21
Unrestricted Funds
21
Total Funds
22		 Group
31 March
2023
31 March
2022
£'000
£'000
2,005
2,059
477
500
2,482
2,559
2,395
1,875
25
0
1,388
1,420
316
826
4,124
4,121
227
186
3,897
3,935
6,379
6,494
0
0
6,379
6,494
92
42
199
3,004
6,088
3,448
6,379
6,494		 Hospice
31 March
2023
31 March
2022
£'000
£'000
2,005
2,059
567
590
2,572
2,649
2,395
1,875
0
0
1,486
1,478
140
634
4,021
3,987
227
169
3,794
3,818
6,366
6,467
0
0
6,366
6,467
92
42
199
3,078
6,075
3,347
6,366
6,467

The unconsolidated net loss of the Hospice in 2022/23 was £116,000 (2021/22 a net income of £380,000).

The Financial Statements on pages 23 to 46 were approved by the Board of Directors and authorised for issue on 13[th] September 2023 and are signed on its behalf by:

Harriett Creamer Trustee / Director

Andrew Cook Trustee / Director

The notes on pages 26 to 46 form part of these financial statements.

24

Consolidated Cash Flow Statement as at 31 March 2023

Notes
Cashflows from Operating Activities
Net Cash provided by / (used in) Operating Activities
25a
Cashflows from Investing Activities
Purchase of Property, Plant & Equipment
Proceeds from Investments
Net Cash provided by / (used in) Investing Activities
Change in Cash & Equivalents in the Reporting Period
Cash & Equivalents at the beginning of the Reporting
Period
Cash & Equivalents at the end of the Reporting Period
25b		 31 March 2023
31 March 2022
£'000
£'000
95
(448)
(90)
(50)
5
6
(85)
(44)
10
(492)
2,701
3,193
2,711
2,701

The notes on pages 26 to 46 form part of these financial statements.

25

Principal Accounting Policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of Accounting

The Trust meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared in accordance with the Trust's Memorandum and Articles of Association, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The Trust is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the Charity and rounded to the nearest thousand pounds.

Legal Status of the Charity

The Charity is a company limited by guarantee and has no share capital. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity.

Going Concern

The financial statements are prepared on a going concern basis. The Trustees believe that there are no material uncertainties about the Charity's ability to continue as a going concern, after taking into account the further risks and reduced income levels from the impact of Covid-19.

Having oversight of the financial forecasts, cashflows and risk register during the year in response to the pandemic and its impact on future aspirations, the Trustees have realigned the hospice’s future strategic direction to meet short to medium term constraints. The Trustees, therefore, consider that there are no material uncertainties about the Charity’s ability to continue as a going concern for the foreseeable future. Free reserves stand within the charity’s reserves policy requirements which has been agreed on a risk-based profile. Mediumterm forecast projections indicate that the charity’s free reserves remain within its policy’s acceptable limits.

Material Areas of Judgement

The most significant area of judgement and key assumptions that affects items in the accounts is the estimation of income from Legacies. The estimated value of each outstanding legacy at 31 March 2023 is calculated in accordance with the principles set out in the Donation, Grants and Other Income section below. Another significant area of assumption is in respect of depreciation of Fixed Assets. The rates of write down are shown in the Tangible Fixed Assets section below. The Trustees are satisfied that these write down rates are a reasonable reflection of the expected useful life of the assets in each class.

Group Financial Statements

The financial statements consolidate the results of the Charity, its wholly owned subsidiary, St Peter & St James Hospice Shops Ltd and the Friends of St Peter & St James on a line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account for the Charity has not been presented because the Charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

Comparative Data

The allocation of income and expenditure on the statement of financial activities has been changed this year in order to provide greater clarity of source. This has resulted in necessary changes to the presentation of

26

comparative information to maintain consistency.

Fund Accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the Trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations where the donor has specified they should only be used for particular areas of the hospice’s work. The aim and use of each designated and restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund.

Donated Assets

Tangible assets donated to the hospice are recorded at the original estimate of their value to the company.

Tangible Fixed Assets

Fixed assets other than donated assets are stated at historical cost. All assets costing more than £1,000 are capitalised.

Depreciation is provided to write off the cost or revalued amount of all fixed assets on a reducing balance basis over their expected economic useful lives as follows:

Freehold land Nil
Freehold property 5%
Fixtures, fittings and equipment 15% or 20%
Computer equipment 33 %
Motor vehicles 25%
Equipment (Shops) 25%

Taxation

The company is considered to pass the tests set out in the Finance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation on income or capital gains to the extent that such income or gains are applied exclusively to charitable purposes.

Operating Leases

Rental costs under operating leases are charged to the general fund operating account in equal annual amounts in accordance with the terms of the lease. Any benefits received or receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the period of the lease.

Pension Contributions

The Charity contributes to the defined benefit scheme (NHS Superannuation) for eligible staff and operates a defined contribution scheme for other staff. Some staff participate in the NHS defined benefit pension scheme. Any resulting liabilities on this scheme would be met by the state. Contributions to the schemes are recognised as an expense in the financial statements as they become payable.

Donations Grants and Other Income

Income is recognised in the Statement of Financial Activities when the charity is entitled to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.

In the event that a donation or grant is subject to fulfilling performance conditions before the charity is entitled to the funds the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year end are accounted

27

for in income accrued in debtors.

Income from NHS contracts, government or other grants, whether capital or revenue in nature are recognised when the charity has entitlement to the funds, any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably.

Legacies

Income from legacies is determined on a case-by-case basis in accordance with the following principles:

Pecuniary legacies are recognised once probate has been granted and notification has been received that payment will be received.

Residuary legacies are recognised once probate has been granted, provided that sufficient information has been received to enable valuation of the hospice’s entitlement with sufficient certainty; amounts receivable are included at 90% of their valuation, to reflect the sector’s experience of the uncertainty inherent in the administration of estates, subject to further reduction to reflect the impact of other factors such as the valuation of unrealised estate assets or subsequent adverse movements in property and investment markets.

Where legacies have been notified to the charity or the charity is aware of the granting of probate and the criteria for income recognition have not been met then the legacy is treated as a contingent asset and disclosed if material.

Donated Goods and Services

Donations of goods and services, including seconded NHS doctors, are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from its use is probable and the economic benefit can be reliably measured. These items are included in income at the estimated value of the gift to the charity when received based on the amount the charity would have been prepared to pay had it been required to purchase them.

Volunteers

The value of the services provided by volunteers is not incorporated into these financial statements. Further details of their contribution are provided in note 12.

Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis once there is a legal obligation to make a payment, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is categorised under the following headings:

Costs of raising funds comprises fundraising costs incurred in seeking donations, grants and legacies; investment management fees; costs of fundraising activities including the costs of goods sold, shop costs, commercial trading and their associated support costs. Fundraising costs do not include the costs of disseminating information in support of the hospice’s charitable activities.

Expenditure on charitable activities includes the costs of providing specialist palliative care and support to patients, their families and the wider community; research and other educational activities undertaken to further the purposes of the charity and their associated support costs.

Support costs comprise those costs which are incurred directly in support of expenditure on the objects of the hospice and include governance costs, finance and office costs. Governance costs are those costs incurred in connection with complying with constitutional and statutory requirements of the charity. Where practicable irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

28

Support costs are allocated to each of the activities on a variety of bases, principally headcount, floor area or time spent on activities depending on the nature of the support costs, to best allocate the costs to each attributable heading.

Financial Instruments

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

Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price, except for the shares in the trading subsidiary which are carried at cost. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

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 during 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.

Current asset investments are short term liquid investments, which are not required to cover day to day running costs. These comprise cash on deposit and cash equivalents held with other organisations other than our current bankers.

The charity does not 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 and bond markets due to wider economic conditions, the attitudes of investors to investment risk and changes in sentiment concerning equities and other instruments within particular sectors.

Stock

Stocks of goods for resale are valued at the lower of cost and net realisable value. Stocks donated for resale are not included in the financial statements until they are sold because the Trustees consider it impractical to be able to assess the amount of donated stocks as there are no systems in place to record these until they are sold and undertaking a stock take would incur undue cost and income loss for the charity which would far outweigh the benefits.

Debtors

Trade and other debtors are recognised at the settlement amount due after any discounts offered. Expenditure for goods or services which will be consumed in a future period are held on the balance sheet and reclassified as an expense when goods or services are consumed. Accrued income and tax recoverable are included at the best estimate of the amount's receivable at the balance sheet date.

Cash at Bank and in Hand

Cash at bank and cash in hand includes cash and short term highly liquid deposits with a short maturity of 95 days or less from the date of acquisition or opening of the account.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due for settlement can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discount.

29

Supporting Notes to Financial Statements

1 Income

Income derives from the group’s principal activities carried on wholly in the United Kingdom.

2 Income from Fundraising Activities

Restricted
£'000's
Donations
62
Legacies
0
Other Grants
92
154

Income from Investments
Listed Investment Income
Interest Received -Investments held as Current Assets
Rental Income

Income from Trading Activities
Retail
Lottery
Fundraising Events		 Restricted
£'000's
62
0
92		 Restricted
£'000's
62
0
92		 Unrestricted
2023
2022
£'000's
£'000's
£'000's
1,041
1,103
951
1,422
1,422
1,315
77
169
134
2,540
2,694
2,400
2023
2022
£'000’s
£'000’s
11
8
18
3
0
1
154
29
12
2023
2022
£'000’s
£'000’s
1,669
1,578
171
155
64
124
1,904
1,857

30

5 Income from Charitable Activities

NHS Block Grants
NHS Block Grant
NHS Pension Rebate
Grants
NHS Consultants Sessions
NHS Specialist Palliative Community Care
Weekends / Bank Holidays
County Council Befriending Services
Commissioned Income
Inpatient Beds from Continuing Healthcare
Inpatient Beds for Winter Pressures
Urgent Response
Contribution to Drug Costs
Other Commissioned Income
COVID 19 Hospice UK (HUK) Support
Education Income		 Restricted
Unrestricted
2023
2022
£’000’s
£’000’s
£'000’s
£'000’s
0
505
505
498
0
30
30
30
57
0
57
56
44
0
44
43
33
0
33
33
0
63
63
37
0
39
39
0
0
46
46
0
0
69
69
0
0
13
13
0
7
0
7
189
0
20
20
7
141
785
926
893

NHS pass through contributions to drugs are recognised from 2022/23, equally as income and expenditure.

6 a) Expenditure

Direct Costs Support Costs Depreciation Total 2023 Total 2022
£000's £000's £000's £000's £000's
Fundraising / Investment Activities
Donations, Legacies &
Grants 465 125 17 606 569
Investment Management 5 0 0 5 4
470 125 17 611 573
Trading Activities
Retail Shops 1,522 227 18 1,767 1,207
Lottery Costs 2 54 2 58 0
Fundraising Events 0 87 3 90 0
1,524 368 23 1,915 1,207
Charitable Activities
Inpatient Services 1,591 546 38 2,175 2,028
Community Services 430 265 34 729 736
Wellbeing Services 0 166 16 182 227
Education 50 34 3 87 0
2,071 1,011 92 3,173 2,991
4,065 1,503 131 5,699 4,771

31

b) Analysis of Support Costs in a) above


Fundraising / Investment Activities
Donations, Legacies & Grants

Trading Activities
Retail Shops
Lottery Costs
Fundraising Events

Charitable Activities
Inpatient Services
Community Services
Wellbeing Services
Education


 Facilities &
Hospitality
Support
Services
Governance
Support Costs
Total
£000's
£000's
£000's
£000's



48
74
3
125
48
74
3
125




77
144
6
227
48
5
0
53
48
37
2
87
173
186
8
367




214
318
14
546
59
197
9
265
83
80
3
166
18
15
1
34
374
610
27
1,011
595
870
38
1,503

Allocation Methods:

Facilities and Hospitality Costs are allocated on an estimated usage basis.

Support Services include the Senior Leadership Team, Finance, People and IT and are allocated on an FTE basis. Governance Costs are allocated on an estimated staff time basis.

7 Trading Operations

The wholly owned trading subsidiary, St Peter and St James Hospice Shops Limited, UK company registration number 3146736, pays all its eligible profits to the Charity under Gift Aid. The company manages the sale of purchased goods through the hospice retail shops. The charity owns the entire issued share capital of 90,000 shares of £1 each. A summary of the trading results is shown below.

Turnover
Cost of Sales
Gross Profit
Other Operating Expenses (net)
Profit on Ordinary Activities
Donations under Gift Aid
Corporation Tax
Profit Retained in the Subsidiary		 2023
2022
£'000
£'000
107
46
38
8
69
38
68
20
1
18
0
18
0
0
1
0

32

8 Net Income / Expenditure

2023 2022
£'000 £'000
Net Income / (Expenditure) is stated after charging:
Tangible Fixed Asset Depreciation and amounts Written Off in the
Period
Owned Assets 131 143
Operating Lease Rentals - Equipment 1 0
Operating Lease Rentals - Shops & Office 338 278
Auditors Remuneration - Audit 12 6
Auditors Remuneration – Tax Business 2 0

9 Employees

Average Weekly FTE's
Voluntary Income Generation
Delivery of Charitable Activities
Support Services		 2023
2022
FTE's
FTE's
43
37
40
45
16
17
99
99

The hospice employs a significant number of staff on a part-time basis. The average of number of paid staff in the charity and group in 2022/23 was 129 (2021/22: 137).

Staff Costs
Salaries
Social Security Costs
Other Pension Costs		 2023
2022
£'000
£'000
3,479
3,011
178
247
153
187
3,810
3,445

The hospice made ex gratia payments to staff in 2022/23 of £17,000 (2021/22 NIL). No emolument was paid during the year to any of the Directors (2021/22: £Nil) and no Director was reimbursed for expenses (2021/22: £Nil).

33

The number of employees who received emoluments in the following ranges was:

£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£90,001 - £100,000
£100,001 - £110,000
£110,001 - £120,000		 31 March 2023
31 March 2022
£'000
£'000
1
2
1
0
0
0
0
2
1
0
1
0
4
4

All of the above higher paid employees are accruing retirement benefits under schemes treated as defined contribution schemes. The company made pension contributions of £38,000 on behalf of these staff in 2022/23 (2021/22 £24,000).

FRS 102 defines 'key management personnel as those persons having authority and responsibility for planning, directing and controlling the activities of the Charity, directly or indirectly, including those members of staff who are the senior management personnel to whom the Trustees have delegated significant authority or responsibility in the day-to-day running of the charity'. We have interpreted this to be the Trustees and the Chief Executive whose employee benefits for both the Charity and the Group were £104,000 in total (2021/22: £65,000).

10 Related Party Transactions

During the year no Trustees received any remuneration or benefits in kind (2021/22 £Nil). Moreover, no Trustees received any reimbursement of travel expenses (2021/22 £Nil). Donations from Trustees to the charity amounted to £325 in 2022/23 (2021/22 £640). Trustees will also make small donations in each year to events and gifts in kind to retail.

The charity provided services during the year to its wholly owned trading subsidiary, St Peter and St James Hospice Shops Limited. The charge for those services amounted to £68,000 (2021/22 £19,000). No donation was made under gift aid from the trading subsidiary in the year (2021/22 £19,000).

There were no other related party transactions in the current year or previous year.

11 Pension Contributions

The hospice participates in a defined contribution pension scheme operated by the Aegon, the assets of which are held separately from those of the hospice. Employees contribute 3% of their salary with the charity contributing 5%.

The total pension cost charge of the group represents contributions payable by the charity and amounted to £153,000 (2021/22: £187,000).

At the year-end, contributions outstanding totalled £27, 535 (2021/22: £27, 396) and are included in the creditors. The estimated employer pension contributions payable by the company in 2023/24 is £160,000.

34

12 Volunteers

The Charity is dependent upon a team of part-time voluntary helpers who assist in all areas of the charity’s work. In the year the charity was supported by 372 volunteers (2021/22: 435):

Retail Operations - 173 volunteers (2021/22: 200) volunteers supported our retail operations providing sorting and till support to our charity shops, our warehouse and e-commerce work.

Charitable and Administrative Activities - 199 volunteers (2021/22: 235) provided:

13 Tangible Fixed Assets

Hospice & Group
Cost / Valuation at 1st April 2022
Additions
Disposals
Cost / Valuation at 31st March 2023
Depreciation at 31st March 2022
Charged in the Year
Disposals
Depreciation at 31st March 2023
Net Book Value 31st March 2023
Net Book Value 31st March 2022		 Freehold Land
& Buildings
Equipment
Motor
Vehicles
Total
£'000
£'000
£'000
£'000
3,486
1,099
130
4,715
24
34
32
90
(3)
0
(44)
(47)
3,507
1,133
118
4,758
1,612
938
106
2,656
85
35
11
131
0
0
(34)
(34)
1,697
973
83
2,753
1,810
160
35
2,005
1,874
161
24
2,059

All the tangible fixed assets of the group are part of the accounts of the main charity.

Freehold land of £180,000 is included in Freehold Land and Buildings that is not depreciated. The market value of the land has been valued by the directors at £345,000.

All freehold land and buildings are included in the financial statements at lower of cost and open market value. In the opinion of the Directors, the open market value of the freehold land and buildings is not less than the stated value.

35

14 Fixed Asset Investments

4 Fixed Asset Investments
Listed Investments
£'000
Cost / Market Value 1st April 2022 500
Movement of Shares to Investments
Gains / (Losses) on Disposal (1)
Unrealised Gains / (Losses) (28)
Dividends & Interest 11
Management Fee (5)
Cost / Market Value 31st March 2023 477
Historical Cost 31st March 2023 393

Investments held by the charity also include an additional £90,000 (2021/22 - £90,000) investment in the subsidiary company at cost.

Subsidiary Company
Aggregate
Country of Class of Proportion Capital & Result for
Name Incorporation Holding Held Reserves Year
£'000 £'000
St Peter and St James Hospice
Shops Limited England Ordinary 100% 90 -
15 Investments held as Current Assets
£'000
Cost / Market Value 1st April 2022 1,875
Cash held in deposit accounts 502
Interest 18
Cost / Market Value 31st March 2023 2,395
Historical Cost 31st March 2023 2,160

36

16 Stock

Group
2023
2022
£'000
£'000
Stock
Goods for Resale
25
0
25
0
17 Debtors
Group
2023
2022
£'000
£'000
Debtors
Trade Debtors
0
44
Accrued Legacy Income
1,165
848
Amounts due from Subsidiary
Company
0
0
Other Prepayments & Accrued Income
66
425
Other Debtors
157
103
1,388
1,420
18 Creditors: Amounts falling due within one year
Group
2023
2022
£'000
£'000
Creditors
Trade and Other Creditors
115
83
Taxation and Social Security Costs
65
66
Accruals & Deferred Income
15
8
Other Creditors
32
29
227
186		 Group
2023
2022
£'000
£'000
Stock
Goods for Resale
25
0
25
0
17 Debtors
Group
2023
2022
£'000
£'000
Debtors
Trade Debtors
0
44
Accrued Legacy Income
1,165
848
Amounts due from Subsidiary
Company
0
0
Other Prepayments & Accrued Income
66
425
Other Debtors
157
103
1,388
1,420
18 Creditors: Amounts falling due within one year
Group
2023
2022
£'000
£'000
Creditors
Trade and Other Creditors
115
83
Taxation and Social Security Costs
65
66
Accruals & Deferred Income
15
8
Other Creditors
32
29
227
186		 Hospice
2023
2022
£'000
£'000
0
0
0
0
Hospice
2023
2022
£'000
£'000
0
44
1,165
848
95
69
66
425
160
92
1,486
1,478
Hospice
2023
2022
£'000
£'000
117
67
65
66
15
8
30
28
227
186		 227
169

37

19 Reserves – Movements by Fund

This schedule presents the final reserves position by fund.

Balance at 1st April 2022
Net Operating Income / (Expenditure)
Net Gains / (Losses) on Investments
Net Inc / (Dec) in Reserves
Transfers between Funds
Net Inc / (Dec) in Reserves
Balance at 31st March 2023
Less:
Fixed Assets
Available Reserves		 Restricted
Funds
Designated
Funds
Unrestricted
Funds
Total
Funds
42
3,004
3,448
6,494
50
(5)
(131)
(86)
0
0
(29)
(29)
50
(5)
(160)
(115)
0
(2,800)
2,800
0
50
(2,805)
2,640
(115)
92
199
6,088
6,379
0
2,005
2,005
92
199
4,083
4,374

Notes 20 and 21 provide further detail on fund movements in the year.

20 Restricted Funds: Group & Charity


Restricted Revenue Fund
Inpatient Services
Community Services
Wellbeing Services
Capital & Equipment
Other
Total Funds
Donations in Kind
Total Funds
Balance 1st
April 2022
Income in
Year
Expenditure
in Year
Transfers In /
(Out)
Balance 31st
March 2023
37
1
5
0
33
0
92
92
0
0
0
72
72
0
0
0
88
76
0
12
5
42
0
0
47
0
0
0
0
0
42
295
245
0
92
0
0
0
0
0
42
295
245
0
92

The hospice may receive grants or donations whose use is restricted by the donor. In these circumstances, the funds are shown as restricted.

38

Restricted Revenue Fund

Donations received to support to support the cost of small items and the cost of inpatient nursing.

Inpatient Services and Consultant Support

Funds raised towards the cost of our specialist inpatient nursing team.

Grants from NHS High Weald to provide palliative medicine consultant sessions at Princess Royal Hospital.

Community Services

Funds raised towards the cost of our specialist community nursing team.

Grants from NHS Horsham and NHS High Weald to support Specialist Palliative Nursing Support across weekends and bank holidays.

Wellbeing Services

Funds raised to support to support Complementary Therapies, Spiritual Care and Counselling. Grants from East Sussex and West Sussex County Councils to support befriending services for carers and families.

Capital & Equipment

Funds raised in support of specific capital projects and equipment.

Other

Funds raised for items not included above.

21 Unrestricted Funds

Designated Funds
Tangible Fixed Assets
Legacy Accrual
Capital Replacement
Friends of St Peter and
St James
Total Designated
Funds
General Funds
Total Unrestricted
Funds		 Balance 1st
April 2022
Income in
Year
Expenditure
in Year
Gain / (Loss)
on
Investments
in Year
Transfers In
/ (Out)
Balance
31st March
2023
2,059
0
0
0
(2,059)
0
848
0
0
0
(848)
0
81
0
5
0
123
199
16
0
0
0
(16)
0
3,004
0
5
0
(2,800)
199
3,448
5,318
5,449
(29)
2,800
6,088
6,452
5,318
5,454
(29)
0
6,287

Unrestricted reserves are available to be used for:

Designated funds have been agreed by the Trustees to support costs in the delivery of its strategic goals. In the year, the Trustees agreed to transfer Tangible Fixed Assets, Legacy Accruals and the Friends of St Peter and

39

St James back to the Unrestricted Fund following the introduction of their new finance system which allows the monitoring of spend more appropriately.

At the end of the year £199,000 remains in the designated fund to support programmed capital expenditure to 31st March 2025.

22 Analysis of Group Net Assets between Funds

Tangible Fixed Assets
Fixed Asset Investments
Current Asset
Investments
Other Current Assets
Current Liabilities
Provisions		 Unrestricted
Restricted
Total
Funds
2023
£'000
£'000
£'000
2,000
5
2,005
477
0
477
2,395
0
2,395
1,538
87
1,625
(123)
0
(123)
0
0
0
6,287
92
6,379		 Unrestricted
Restricted
Total
Funds
2022
£'000
£'000
£'000
2,059
0
2,059
500
0
500
1,875
0
1,875
2,204
42
2,246
(185)
0
(185)
0
0
0
6,453
42
6,495

23 Members of the Hospice

As at 31st March 2023 there were 56 members (2021/22:54) of the company who are required to contribute £10 each in the event of the company being wound up.

24 Operating Lease Commitments

At 31st March 2023 the group was committed to make the following payments in respect of operating leases:

Land & Buildings
Amounts due within One Year
Amounts due in Two to Five Years
Amounts due in over Five Years
Other
Amounts due within One Year
Amounts due in Two to Five Years		 2023
2022
£'000
£'000
337
269
1,301
610
928
50
1
0
1
0
2,568
929

Payments under operating leases are recognised as expenditure as they fall due. No provision has been made for future commitments.

40

25 Cashflows

a) Net Income / (Expenditure) for the Reporting Period
Adjust for:
Depreciation
(Gains) / Losses on Sale of Assets
(Increase) / Decrease in Investments
(Increase) / Decrease in Stocks
(Increase) / Decrease in Debtors
Increase / (Decrease) in Provisions
Increase / (Decrease) in Creditors
Net Cash provided by / (used in) Operating Activities
b) Analysis of Cash & Cash Equivalents
Cash in Hand
Notice Deposits (less than 3 Months)
Total Cash & Cash Equivalents		 2023
2022
£'000
£'000
(115)
398
131
143
13
0
18
(17)
(25)
0
32
(983)
0
0
41
11
95
(448)
2023
2022
£'000
£'000
316
826
2,395
1,875
2,711
2,701

41

26 Financial Performance of the Friends of St Peter and St James Charitable Trust.

The Friends of St Peter & St James is a registered charity, number 288522, whose objects are to relieve the patients of the Hospice who are sick, convalescent, disabled, handicapped or infirm and generally to support the charitable work of the Hospice to whom the Friends of St Peter & St James are ultimately responsible. A summary of the financial activities of the Friends of St Peter & St James is given below and these have been consolidated into the group accounts .

P&L
Income - Donations
Expenditure - Charitable Activities
Net Income / (Expenditure) for the Year
Funds B/F as at 1st April
Funds Carried Forward as at 31st March
Balance Sheet
Current Assets
Debtors
Cash at Bank and in Hand
Net Assets
The Funds of the Charity
Unrestricted Funds		 2023
2022
£
£
2,115
3,721
0
2,115
3,721
15,911
12,190
18,026
15,911
2023
2022
0
18,026
15,911
18,026
15,911
18,026
15,911

27 Capital Commitments

There are no capital commitments.

42

28 SOFA prior Year Comparatives

Note
Income
Donations & Legacies
2
Trading Activities
4
Charitable Activities
5
Investments
3
Other Income
Total Income
Expenditure
Fundraising & Investment Activities
Trading Activities
Charitable Activities
Total Expenditure
6
Net Income / (Expenditure) on
Operational Activities
7
Net Gains / (Losses) on Investments
14,15
Net Income / (Expenditure) for the
Year
8
Transfer Between Funds
20,21
Net Movement In Funds
Funds B/F as at 1st April
Funds Carried Forward as at 31st
March		 Restricted
Designated
Unrestricted
Total
Funds
2022
£'000's
£'000's
£'000's
£'000's
313
3
2,083
2,399
0
0
1,857
1,857
199
0
694
893
0
0
12
12
0
0
0
0
512
3
4,646
5,161
0
0
514
514
0
0
1,265
1,265
615
0
2,376
2,991
615
0
4,155
4,770
(103)
3
491
391
0
0
7
7
(103)
4
498
398
0
446
(446)
0
(103)
449
52
398
145
2,555
3,396
6,096
42
3,004
3,448
6,494		 Total
Funds
2021
£'000's
2,170
900
2,096
19
0
5,185
287
869
3,506
4,662
523
54
577
0
577
5,519
6,096

43

29 Note 6 Expenditure – prior year

a. Expenditure

Direct Costs Support Costs Depreciation Total 2022 Total 2021
£000's £000's £000's £000's £000's
Fundraising / Investment Activities
Donations, Legacies & 391 119 0 510 285
Grants
Investment Management 4 0 0 4 3
395 119 0 514 288
Trading Activities
Retail Shops 1,168 97 0 1,265 869
Lottery Costs 0 0 0 0 0
Fundraising Events 0 0 0 0 0
1,168 97 0 1,265 869
Charitable Activities
Inpatient Services 1,650 379 0 2,029 2,514
Community Services 574 162 0 736 653
Wellbeing Services 212 15 0 227 338
Education 0 0 0 0 1
2,436 556 0 2,992 3,506
3,999 772 0 4,771 4,663

b. Analysis of Support Costs

Fundraising / Investment
Donations, Legacies &
Grants
Trading Activities
Retail Shops
Lottery Costs
Fundraising Events
Charitable Activities
Inpatient Services
Community Services
Wellbeing Services
Education		 Facilities &
Hospitality
Support
Services
Corporate
Comms
Governance
Support Costs
Total
£000's
£000's
£000's
£000's
£000's
Activities
0
79
0
40
119
0
79
0
40
119
0
88
0
9
97
0
0
0
0
0
0
0
0
0
0
0
88
0
9
97
0
294
0
85
379
0
126
0
36
162
0
12
0
3
15
0
0
0
0
0
0
432
0
124
556
0
599
0
173
772

44

30 Note 20 Restricted Funds - prior year

0Note 20 Restricted Funds - p rior year
Restricted Revenue Fund
Inpatient services
Community Services
Wellbeing Services
Education
Capital & Equipment
Other
Total Funds		 Balance 1
April 2021
Income in
Year
Expenditure
in Year
Transfers In /
(Out)
Balance 31
March 2022
132
396
476
(15)
37
0
0
0
0
0
0
108
123
15
0
0
0
0
0
0
0
0
0
0
0
13
9
17
0
5
0
0
0
0
0
145
513
616
0
42

31 Note 21 Unrestricted Funds – prior year.

1Note 21 Unrestricte d Funds – prior year.
Designated Funds
Tangible Fixed Assets
Legacy Accrual
Capital Replacement
Friends of St Peter and
St James
Total Designated
Funds
General Funds
Total Unrestricted
Funds		 Balance 1
April 2021
Income in
Year
Expenditure
in Year
Gain / (Loss)
on
Investments
in Year
Transfers In
/ (Out)
Balance 31
March 2022
2,152
0
0
0
(93)
2,059
112
0
0
0
736
848
279
0
0
0
(197)
82
12
4
0
0
0
16
2,555
4
0
0
446
3,005
3,396
4,645
4,148
0
(446)
3,447
5,951
4,649
4,148
0
0
6,452

45

Note 22 Analysis of Group Net Assets between Funds – prior year

Tangible Fixed Assets
Fixed Asset Investments
Current Asset
Investments
Other Current Assets
Current Liabilities
Provisions		 Unrestricted
Restricted
Total
Funds
2022
£'000
£'000
£'000
2,059
0
2,059
500
0
500
1,875
0
1,875
2,204
43
2,246
(186)
0
(186)
0
0
0
6,452
43
6,494		 Unrestricted
Restricted
Total
Funds
2021
£'000
£'000
£'000
2,152
0
2,152
489
0
489
2,147
0
2,147
1,338
145
1,483
(175)
0
(175)
0
0
0
5,951
145
6,096

46

Key Addresses

Registered Office

St Peter & St James Charitable Trust North Common Road, North Chailey, Lewes, East Sussex, BN8 4ED

Auditors

Knill James LLP Chartered Accountants One Bell Lane, Lewes, East Sussex BN7 1JU

Bankers

Barclays Bank Plc 77 South Road, Haywards Heath, West Sussex RH16 4LB

Solicitors

Adams & Remers LLP Trinity House, School Hill, Lewes, East Sussex, BN7 2NN

Sherrards LLP

4 Albourne Court, Henfield Road, Albourne, West Sussex BN6 9FF

Investment Managers

Rathbones

1 Northgate, Chichester, West Sussex, PO19 1AT

47