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← The St Peter And St James Charitable Trust

2025-03-31-accounts

Registered number: 03204919 Charity number: 1056114

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Chairman's statement 2 - 3
Trustees' report 4 - 11
Independent auditors' report on the financial statements 12 - 14
Consolidated statement of financial activities 15
Consolidated balance sheet 16 - 17
Charity balance sheet 18 - 19
Consolidated statement of cash flows 20
Notes to the financial statements 21 - 42

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees Charlotte Almond
Michael Carey
Caroline Cauvin
Anita Chown
Harriet Creamer, Chair
Patrick Henshaw
John Hills
Robin Knight, Vice Chair
Isabelle Otway
Caroline Potter (appointed 11 September 2024)
Patricia Robinson
Lesley Strong
Nicholas Barrie (retired 11 September 2024)
Andrew Cook (retired 11 September 2024)
Company registered
number
03204919
Charity registered
number
1056114
Registered office
St Peter & St James Hospice & Continuing Care Centre
North Common Road
North Chailey
East Sussex
BN8 4ED

Interim Chief Executive Amanda Fadero Officer

Page 1

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Chair of the Boards Statement

This financial year ends in the year St Peter and St James celebrates 50 years of providing specialist care to our community in Lewes, Burgess Hill, Haywards Heath, Uckfield and all of the surrounding villages, moving from our origins as a care home in 1975 to the hospice we are today, providing free specialist palliative and end-of-life care. In the year ended 31st March 2025 we helped over 1,000 patients in our in-patient unit, in the community and in our Living Well Centre, and are looking to grow this moving forward.

Over the last few years, we have seen the hospice sector become much harder to operate in, with hospices across the country struggling to meet rising costs with which government funding has failed to keep up. In this year, just 13.7% of our operating costs were met by government funding (excluding capital grants), one of the lowest proportions of any hospice in the country, and we are very heavily reliant on the generosity and hard work of our community to keep operating.

In November 2024 we held our inaugural Gala Dinner, which helped us raise significant funds, some of which we used to purchase a portable ultrasound scanner. This scanner enables us to scan patients at the Hospice or where they live, whether that’s in their own home or a care home, meaning there is no need for a hospital visit. The end of the financial year marked the end of our last three-year strategic period, and we embarked on our new three-year strategy, which focusses on

Part of our financial sustainability plan centres on how we can work with the NHS to both increase our funding and reach more patients. As part of this work, we have recently opened four new CHC funded beds, which we anticipate will generate another £270k of NHS funding per year, and will allow us to support more patients with longer term needs, at the hospice. We were able to do this thanks to a £312k grant from the Department of Health and Social Care, our share of the government’s £100m payments to hospices for capital spending. A significant amount of our share was used on renovating the four new rooms, and on improving the facilities on our inpatient unit to make it an even better place to care for patients.

The hospice is committed as a key member of the Sussex Hospice Alliance, a group of our hospice partners, to negotiate as one voice with the NHS, regarding funding, and to share knowledge and resources to deliver efficiencies and improve patient care.

Page 2

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

I would like to thank all our staff, volunteers, patrons and Trustees for all their hard work and support throughout the year. I would like to give particular thanks to Dr Nicholas Barrie and Andrew Cook who stepped down as trustees part way through the year, after coming to the end of their terms.

I would also like to give my heartfelt thanks all those who have donated, fundraised, given their time, left us a gift in their will, purchased something in our shops or attended our events. Without you, we would not have been able to provide the specialist care we offer to those who needed it over the last 50 years and into the future. The hospice remains an integral part of the community and, with your support, will continue to serve it for generations to come.

Harriet Creamer Chair Date:

Page 3

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2024 to 31 March 2025. 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).

Executive Summary 2024/2025

Throughout the year we have focused our efforts on extending our reach and support for those who need us, whilst developing and maintaining strong and effective relationships with our community and our colleagues in the wider health and care system, with the key aim of enhancing outcomes for patients and those most important to them. In 2024/25 it cost us £6.55m to run the whole organisation, which we were able to meet thanks to income of £6.67m which included £1.28m from fundraising and donations, £0.18m from Trusts, £1.68m from legacies, £2.08m from retail and £0.96m from government funding.

Our Inpatient Unit (IPU) ran at 83% occupancy during the year with an average length of stay of 12.1 days, and our community nursing service saw an increase in activity of 9%. Attendance in our Living Well Centre (LWC) and Supportive Care Services has significantly increased with a clear and targeted focus on carer support which was extended to be available on six days per week in this year, making our care and support more accessible. The Hospice has supported over 1,000 patients this year, and we are looking to further increase this in the current year, whilst continuing to provide excellent care and support for our patients.

As part of increasing our patient reach, we have innovated to help make the best use of our staff’s time. During this year we became the first Hospice to trial specific medically approved AI software for note taking, with the aim of saving time for our clinicians and our community team but also allowing them to give more attention to the patient during visits and appointments.

Quality of Care and Patient Safety is always a top priority for our Clinical Teams, and we have introduced new roles at the Hospice, including a new Head of Quality to help continue our focus in these areas. During the year, we received £78k from the first tranche of our £312k share of the £100m the government allocated to hospices to be spent on capital funding. We used this as an opportunity to purchase new high-spec medical mattresses which will help reduce the risk of patients getting pressure sores.

Please see below some quotes from those we have supported we received in the year which we have been given permission to share:

“I just wanted to say thank you for the support you gave us over the last few months. You started visiting at a time when I felt overwhelmed with the home situation, with very little support from any health or social professionals, and I felt that you listened and understood the complexity of the situation, without judgment, and just accepted us as we are. Sometime all relatives need is a professional to walk the journey with them, so they know they are not alone, and you were that person to us, so thank you.”

“The staff made it possible for us and our family to make the best of our final days and hours together. At his passing, there they were to comfort and guide us through the next steps. I will forever be grateful for all that the hospice staff did for us.”

“What you do for your patients and their families is nothing short of extraordinary. This Hospice is incredibly special, and deserves to be protected at all costs.”

“We came from a crowded busy ward, and we arrive at the hospice for quiet and care to descend upon us. What a wonderful place.”

Page 4

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

“The CNS created a relationship with my wife long before it came to making difficult decisions which meant that when these decisions came, it was done in an environment of steadiness and deep respect.”

About St Peter and St James Hospice

St Peter & St James Hospice provides specialist palliative 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 employed workforce, kindly supported by dedicated volunteers, are committed to excellence in all they do. St Peter and St James Hospice Clinical Services are steadfast in ensuring everyone in their care is treated with kindness, compassion and respect, offering responsiveness, flexibility and safety, ultimately providing choice for patients and those most important to them. Our services are free of charge to all those in our community who need our care; however, this is only made possible by the support and continued generosity of our supporters.

Our Services

As a multidisciplinary organisation, St Peter and St James hospice provides care and support in the Inpatient Unit, through our Specialist Community Palliative Care Team and in the Living Well Centre as well as through our Supportive Care Team. The table below outlines the range of services available for patients and carers. Our hospice values, Compassion, Integrity, Accountability, Excellence and Inclusivity are at the heart of our organisation and define who we are, what we believe and what we stand for.

Throughout this financial year our clinical teams have consistently increased their reach to provide care, support and guidance to patients and those most important to them.

Page 5

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

I n-Patient Unit (IPU) has supported 197 patient admissions in this financial year, with an average length of stay of 12.1 days.

Hospice Community Service have supported 937 patients and received 683 new referrals in the last twelve months. The Clinical Nurse Specialist and Administrative Support team have also been engaged a “Hospice Line” project, in collaboration with two other East Sussex based hospices, St Michael’s and St Wilfrid’s The aim of the project, which has involved several phased pilots, is ultimately to develop a shared 24/7 hub for managing patient advice calls. This work was presented at the Hospice UK conference in November 2024 and has continued to progress towards establishing this service.

Living Well Centre has focused on peer support, self-care, meaningful activities and education. This year alone, we have supported over a hundred new individuals. We’ve expanded our full timetable with new groups, including Make Do and Mend and Singing for Wellbeing. Strong relationships have also been developed with the local art school, and art therapy students now volunteer to support our Art for Wellbeing sessions. Among the many beneficial sessions we offer, patients can spend time with our experienced songwriter and musician, who helps transform their life stories into personalised songs. These unique pieces can be recorded, shared and cherished as lasting memories.

Supportive Care encompasses a range of key support services to patients, carers and the bereaved with key highlights from 2024/25 including the introduction by our Counselling Service of a new ‘Remembering Together Cafe ' for bereaved, held weekly. The Carers Support Service has seen attendance at the Carers Cafe double over the past year. We provide emotional and practical support to carers in a friendly, social environmentoffering them valuable time away from their caring role. The Complementary Therapy Service has nearly doubled its patient reach over the past year, providing well over five hundred treatments to patients, carers, and the bereaved.

Page 6

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Our Care in Numbers 2024/2025 versus 2023/2024

There has also been a strong and continued focus on patient safety and quality of care with quality improvement projects on developing models of care, working towards electronic prescribing and introducing a non-medical prescribing framework, as well as reviewing and enhancing our data quality and analysis. At the same time we have continued an ambitious audit programme to support quality improvement. In August 2024 we implemented a new patient safety reporting system (Vantage).

During the year we sought feedback from patients through an Experience of Care survey to patients accessing our services and a Voices questionnare to bereaved relatives and carers. This feedback is helping us to plan and deliver care according to need and ensure our service changes encompass the patient and carer voice. In the year 2024-2025, 585 Experience of Care Questionnaires were sent out to which 279 patients responded; a response rate of 48% and a significant increase on the previous year (when we achieved a response rate of 22%) .

The VOICES questionnaire to bereaved relatives and carers was sent out to 262 family members, friends, or carers with a response rate of 31%, which again was an increase on the prior year and was also very positive about the care and support received.

Page 7

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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 administered 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 undertake trading activities such as selling 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 Board of Trustees 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 and the Group.

Membership of all Committees includes both Trustees and members of the Executive 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 widely advertised, including on the hospice’s website and 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 2024/25, the Executive Team comprised the Chief Executive, the Care Director, Finance Director (whose services were provided via a Service Level Agreement with St Catherine’s Hospice until July 2024), Medical Director and People Director, working with the Trustees to provide leadership and strategic direction to the organisation.

The Senior Leadership Team comprises all senior managers responsible for the delivery of services and activities: Head of Facilities & Estates, Head of Fundraising & Marketing, Head of Quality, Head of Retail and Head of Supportive Care.

Page 8

THE ST PETER AND ST JAMES CHARITABLE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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.

Reserves

The Hospice’s reserves policy requires the hospice to hold a minimum free reserve equal to 6 months of operational costs. At the year end the Hospice’s free reserves met this policy.

Fundraising

We rely on our supporters to enable us to generate the funds needed to run our services as only 13.7% of our total income in the year came from Government funding.

We are committed to transparency and accountability, and voluntarily subscribe as a member of the Fundraising Regulator.

Throughout the year we fundraised in a multitude of ways. During the year we raised £932k from donations from individuals (including Gift Aid), £275k from community work which includes community groups and those doing challenge events for us, £271k from grants and corporations, £178k from lottery income, £262k from events and £1.68m from legacies (all figures are before expenses).

The majority of our fundraising was managed by our own in house Fundraising Team, however lottery income comes from an external lottery run by The Local Hospice Lottery Limited, we used an external company to provide a silent auction at our Gala Dinner called Fundraising Auctions Limited, and we ended our contract at the beginning of the year with an external door to door fundraising company called Gather Campaigns Limited. We are still receiving regular donations from the work undertaken by Gather, but we are no longer paying for their services.

Page 9

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

We take any complaints received very seriously and look to both remedy the situation as quickly as possible but also learn from them. During the year we introduced a new system for logging and tracking complaints, which shows we received 2 complaints in the year which were resolved.

The Hospice takes all reasonable care to protect vulnerable persons we come into contact with, whether that is when fundraising or in any other area of the organisation. We have Fundraising and Safeguarding policies in place and all staff and volunteers receive regular safeguarding training to ensure best practice is met.

Our People

Page 10

THE ST PETER AND ST JAMES CHARITABLE TRUST

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Approved by order of the members of the board of Trustees on _______ and signed on their behalf by:

Harriet Creamer (Chair of Trustees)

Page 11

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ST PETER AND ST JAMES CHARITABLE TRUST

Opinion

We have audited the financial statements of The St Peter and St James Charitable Trust (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2025 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 12

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ST PETER AND ST JAMES CHARITABLE TRUST (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.

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 13

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ST PETER AND ST JAMES CHARITABLE TRUST (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:

[Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud.]

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.

David W Martin (Senior statutory auditor)

for and on behalf of TC Group

Date:

Page 14

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Trading activities
5
Investments
6
Total income
Expenditure on:
Raising funds
7,8
Charitable activities
9
Total expenditure
Net income/(expenditure) before net
gains on investments
Net gains on investments
Net income/(expenditure)
Transfers between funds
21
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
3,122,492
855,691
2,392,210
65,619
6,436,012
2,650,097
3,607,216
6,257,313
178,699
18,657
197,356
33,500
230,856
5,633,050
230,856
5,863,906		 Restricted
funds
2025
£
110,514
108,332
-
-
218,846
-
298,678
298,678
(79,832)
-
(79,832)
(33,500)
(113,332)
211,000
(113,332)
97,668		 Total
funds
2025
£
3,233,006
964,023
2,392,210
65,619
6,654,858
2,650,097
3,905,894
6,555,991
98,867
18,657
117,524
-
117,524
5,844,050
117,524
5,961,574		 As restated
Total
funds
2024
£
2,154,007
1,039,132
2,143,645
75,250
5,412,034
2,562,109
3,398,751
5,960,860
(548,826)
13,580
(535,246)
-
(535,246)
6,379,296
(535,246)
5,844,050

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 21 to 42 form part of these financial statements.

Page 15

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee) REGISTERED NUMBER: 03204919

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
15
Investments
16
Current assets
Stocks
17
Debtors
18
Investments
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
19
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
21
Unrestricted funds
Designated funds
21
General funds
21
Total unrestricted funds
21
Total funds		 23,447
1,335,761
2,014,926
674,492
4,048,626
(539,851)
199,000
5,664,906		 2025
£
1,927,700
525,099
2,452,799
3,508,775
5,961,574
5,961,574
97,668
5,863,906
5,961,574		 18,919
949,584
2,503,455
206,438
3,678,396
(276,291)
199,000
5,434,050		 As restated
2024
£
1,941,763
500,182
2,441,945
3,402,105
5,844,050
5,844,050
211,000
5,633,050
5,844,050

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 _______ and signed on their behalf by:

Page 16

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee) REGISTERED NUMBER: 03204919

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

Harriet Creamer

(Chair of Trustees)

The notes on pages 21 to 42 form part of these financial statements.

Page 17

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee) REGISTERED NUMBER: 03204919

CHARITY BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
15
Investments
16
Current assets
Debtors
18
Investments
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
19
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
21
Unrestricted funds
21
Total funds		 1,335,101
2,014,926
594,442
3,944,469
(605,920)		 2025
£
1,927,700
615,099
2,542,799
3,338,549
5,881,348
5,881,348
97,668
5,783,680
5,881,348		 1,006,999
2,503,455
30,631
3,541,085
(275,041)		 As restated
2024
£
1,941,763
590,182
2,531,945
3,266,044
5,797,989
5,797,989
211,000
5,586,989
5,797,989

The Charity's net movement in funds for the year was £ 233,475 (2024 - £(391,115)) .

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 _______ and signed on their behalf by:

Page 18

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee) REGISTERED NUMBER: 03204919

CHARITY BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

Harriet Creamer

(Chair of Trustees)

The notes on pages 21 to 42 form part of these financial statements.

Page 19

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Cash flows from operating activities
Net cash generated by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 21 to 42 form part of these financial statements		 2025
£
68,074
(88,448)
(88,448)
-
(20,374)
2,709,893
2,689,519		 As restated
2024
£
65,368
(66,899)
(66,899)
-
(1,531)
2,711,424
2,709,893

Page 20

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. General information

The St Peter and St James Charitable Trust is a charity limited by guarantee incorporated in England and Wales. The registered office is North Common Road, North Chailey, Lewes East Sussex, BN8 4ED.

2. Accounting policies

2.1 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The St Peter and St James Charitable Trust 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 Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The Charity 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.

2.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Page 21

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.3 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.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy is recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Grants are included in the Consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities and non-charitable trading.

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

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Page 22

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition are included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following bases:

Freehold property - 5%
Freehold land - Nil
Motor vehicles - 25%
Equipment - 25%
Computer equipment - 25%

2.7 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 Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.8 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 23

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost.

2.12 Financial instruments

The Group 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.13 Pensions

The Group contributes to a defined benefit scheme (NHS Superannuation) for eligible staff and operates a defined contribution scheme for other staff. The contributions to the scheme are recognised as an expense in the financial statements as they become payable.

The NHS scheme may be defined as a defined benefit multi-employer plan; however, the Group does not have any share of the underlying assets or liabilities. The contributions are determined by the Government Actuary and there is no further obligation from the Group other than the initial contributions due.

2.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 24

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Income from donations and legacies

Unrestricted
funds
2025
£
Donations
1,178,658
Legacies
1,679,350
Grants
86,229
Lottery
178,255
3,122,492
As restated
Unrestricted
funds
2024
£
Donations
1,028,757
Legacies
841,256
Grants
54,572
Lottery
122,422
2,047,007		 Restricted
funds
2025
£
104,285
-
6,229
-
110,514
Restricted
funds
2024
£
76,000
-
31,000
-
107,000		 Total
funds
2025
£
1,282,943
1,679,350
92,458
178,255
3,233,006
As restated
Total
funds
2024
£
1,104,757
841,256
85,572
122,422
2,154,007

Page 25

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Income from charitable activities

Unrestricted
funds
2025
£
NHS Hospice block grants
666,289
NHS Capital grant
-
NHS Admission Avoidance
26,379
Council grant for carer support
-
Spot purchase of CHC beds
30,137
NHS Pharmaceutical recharge
57,558
Other commissioned income
493
Education income
74,835
855,691
Unrestricted
funds
2024
£
NHS Block Grant
679,638
NHS Admission Avoidance
43,324
County Council Befriending Services
10,799
Spot purchase of CHC beds
33,562
NHS pharmaceutical recharge
85,711
Other Commissioned Income
1,178
Education Income
43,108
Other NHS grants
111,812
1,009,132		 Restricted
funds
2025
£
-
78,032
-
30,300
-
-
-
-
108,332
Restricted
funds
2024
£
-
-
-
-
-
-
-
30,000
30,000		 Total
funds
2025
£
666,289
78,032
26,379
30,300
30,137
57,558
493
74,835
964,023
Total
funds
2024
£
679,638
43,324
10,799
33,562
85,711
1,178
43,108
141,812
1,039,132

Page 26

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. Income from other trading activities

Unrestricted
funds
2025
£
Retail
2,077,682
Fundraising events
262,781
Other trading income
50,497
Rental income
1,250
2,392,210
Unrestricted
funds
2024
£
Retail
2,002,190
Fundraising events
117,854
Other trading income
22,341
Rental income
1,260
2,143,645		 Total
funds
2025
£
2,077,682
262,781
50,497
1,250
2,392,210
Total
funds
2024
£
2,002,190
117,854
22,341
1,260
2,143,645

6. Investment income

Unrestricted
funds
2025
£
Dividends received
1,428
Investment income - interest recieved
64,191
65,619		 Total
funds
2025
£
1,428
64,191
65,619

Page 27

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. Investment income (continued)

Unrestricted
funds
2024
£
Dividends received
1,749
Investment income - interest received
73,501
75,250
Investment management costs
Unrestricted
funds
2025
£
Investment management fees
8,487
Unrestricted
funds
2024
£
Investment management fees
4,008		 Total
funds
2024
£
1,749
73,501
75,250
Total
funds
2025
£
8,487
Total
funds
2024
£
4,008

7. Investment management costs

Page 28

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. Analysis of costs of raising funds

Fundraising/investment activities
Donations, legacies and grants
Trading acitivites
Retail shops
Lottery costs
Fundraising events
Fundraising/investment activities
Donations, legacies and grants
Trading activities
Retail shops
Fundraising events		 Direct costs
2025
£
332,275
1,618,324
-
150,216
2,100,815
Direct costs
2024
£
354,000
354,000
1,517,355
29,000
1,900,355		 Support
costs
2025
£
200,826
334,124
-
5,845
540,795
Support
costs
2024
£
201,631
201,631
326,341
129,774
657,746		 Total
2025
£
533,101
1,952,448
-
156,061
2,641,610
Total
2024
£
555,631
555,631
1,843,696
158,774
2,558,101

Page 29

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2025
£
Inpatient Services
2,505,488
Community Services
686,611
Wellbeing Sevices
415,117
3,607,216
Inpatient Services
Community Services
Wellbeing Sevices
Education		 Restricted
funds
2025
£
268,357
-
30,321
298,678
Unrestricted
funds
2024
£
2,027,369
959,403
361,398
50,581
3,398,751		 Total
2025
£
2,773,845
686,611
445,438
3,905,894
Total
2024
£
2,027,369
959,403
361,398
50,581
3,398,751

10. Analysis of expenditure by activities

Inpatient Services
Community Services
Wellbeing Sevices		 Activities
undertaken
directly
2025
£
1,786,863
496,091
296,357
2,579,311		 Support
costs
2025
£
986,982
190,520
149,081
1,326,583		 Total
funds
2025
£
2,773,845
686,611
445,438
3,905,894

Page 30

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10. Analysis of expenditure by activities (continued)

Inpatient Services
Community Services
Wellbeing Sevices
Education		 Activities
undertaken
directly
2024
£
1,308,699
555,403
129,398
2,581
1,996,081		 Support
costs
2024
£
718,670
404,000
232,000
48,000
1,402,670		 Total
funds
2024
£
2,027,369
959,403
361,398
50,581
3,398,751

11. Support costs

Fundraising Trading Inpatient
Services
Community
Services		 Inpatient
Services
Community
Services		 Wellbeing
Services Investments		 Wellbeing
Services Investments		 Total
£ £ £ £ £ £ £
Governance 103,298 75,380 292,356 138,286 42,673 3,327 655,320
Facilities 25,519 132,395 524,605 20,191 43,380 - 746,090
Finance 31,463 8,989 26,968 8,989 8,989 4,495 89,893
People
services		 17,872 85,808 87,032 8,048 27,695 - 226,455
Depreciation 22,675 37,396 56,020 15,066 26,343 - 157,500
200,827 339,968 986,981 190,580 149,080 7,822 1,875,258
the Charity's annual 2025
£
10,260
876		 2024
£
9,840
876

12. Auditors' remuneration

Page 31

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes		 Group
2025
£
4,011,946
363,542
237,525
4,613,013		 Group
2024
£
3,582,037
312,031
210,979
4,105,047		 Charity
2025
£
4,011,946
363,542
237,525
4,613,013		 Charity
2024
£
3,582,037
312,031
210,979
4,105,047

The Hospice made ex gratia payments to staff in 2024/25 of £10,000 (2023/24: £26,004). Pension costs for 2024/25 are £237,525 (2023/24: £210,979), net of NHS funding.

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

Voluntary Income Generation
Delivery of Charitable Activities
Support Services		 Group
2025
No.
40
42
25
107		 Group
2024
No.
43
36
27
106

The average number of employees for the year were 164 (2023/24: 161).

The Charity is dependent upon a team of volunteers, who assist in many areas of the Charity's activities.

In the year the Charity was supported by 411 volunteers (2023/24: 398). This includes 172 volunteers (2023/24: 184) who supported our retail operations.

Page 32

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. Staff costs (continued)

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

Group Group
2025 2024
No. No.
In the band £60,001 - £70,000 1 2
In the band £70,001 - £80,000 1 1
In the band £90,001 - £100,000 - 1
In the band £100,001 - £110,000 - 1
In the band £110,001 - £120,000 1 1
In the band £120,001 - £130,000 1 -
In the band £160,001 - £170,000 1 -

At the year end £66,583 of PILON, holiday pay and ex-gratia payments relating to the termination of a contract at the year end have been accrued. This relates to an employee in the £160k- £170k bracket in the table above; without this accrual they would have been in the £90k - £100k bracket.

The key management personnel (the Executive Team) received £485,987 in employee benefits including employer pension contributions.

14. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL) .

15. Tangible fixed assets

Group and Charity

Cost or valuation
At 1 April 2024
Additions
Disposals
At 31 March 2025		 Freehold
property
£
3,535,102
29,427
-
3,564,529		 Motor
vehicles and
equipment
£
1,294,798
88,448
(225,759)
1,157,487		 Total
£
4,829,900
117,875
(225,759)
4,722,016

Page 33

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Tangible fixed assets (continued)

Group and Charity (continued)

Depreciation
At 1 April 2024
Charge for the year
On disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Freehold
property
£
1,788,802
81,214
-
1,870,016
1,694,513
1,746,300		 Motor
vehicles and
equipment
£
1,099,333
77,729
(252,762)
924,300
233,187
195,465		 Total
£
2,888,135
158,943
(252,762)
2,794,316
1,927,700
1,941,765

Freehold land of £180,000 is included in Freehold Land and Buildings that is not depreciated.

16. Fixed asset investments

Group
Cost or valuation
At 1 April 2024
Additions
Profit on disposals
Revaluations
Management charge
At 31 March 2025		 Listed
investments
£
499,882
10,189
3,480
15,177
(3,629)
525,099

All investments are held by the charity which includes £90,000 (2023/2024: £90,000) investment in the subsidiary company at cost.

Subsidiaries

Page 34

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. Fixed asset investments (continued)

The following was a subsidiary undertaking of the Charity:

Name Company Registered office or principal Principal activity number place of business St Peter and St James Hospice 03146736 St Peter & St James, North New goods and Shops Limited Common Road North Chailey, catering

St Peter & St James, North New goods and Common Road North Chailey, catering Lewes East Sussex, BN8 4ED

Class of Holding Included in shares consolidation Ordinary 100% Yes

The financial results of the subsidiary for the year were:

Name Income Expenditure Profit/(Loss) Net assets
£ £ / Surplus/ £
(Deficit) for
the year
£
St Peter and St James Hospice Shops 150,116 (81,619) 68,497 170,226
Limited
17. Stocks
Group Group
2025 2024
£ £
Finished goods and goods for resale 23,447 18,919

Page 35

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Debtors

Group
2025
£
Due within one year
Trade debtors
21,343
Amounts owed by group undertakings
-
Other debtors
77,147
Prepayments and accrued income
1,237,271
1,335,761
Creditors: Amounts falling due within one year
Group
2025
£
Trade creditors
129,621
Amounts owed to group undertakings
-
Other taxation and social security
83,364
Other creditors
124,664
Accruals and deferred income
202,202
539,851		 Group
2024
£
29,803
-
62,560
857,221
949,584
Group
2024
£
140,560
-
78,779
31,966
24,986
276,291		 Charity
2025
£
20,683
-
77,147
1,237,271
1,335,101
Charity
2025
£
129,621
66,069
83,364
124,664
202,202
605,920		 Charity
2024
£
29,803
57,415
62,560
857,221
1,006,999
Charity
2024
£
140,560
-
78,779
31,966
23,736
275,041

19. Creditors: Amounts falling due within one year

20. Prior year adjustments

These accounts include a prior year adjustment that relates to the overstatement of legacy accrued income recognised after a full review was undertaken. This amounted to reducing legacy accrued income by £252,709 and therefore reducing the 2024 closing general unrestricted reserves.

Page 36

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

21. Statement of funds

Statement of funds - current year

Unrestricted
funds
Designated
funds
Capital
replacement
General funds
General Funds -
all funds
Total
Unrestricted
funds
Restricted
funds
Capital and
equipment
Other
Total of funds		 Balance at 1
April 2024
£
199,000
5,434,050
5,633,050
95,000
116,000
211,000
5,844,050		 Income
£
-
6,436,012
6,436,012
84,262
134,584
218,846
6,654,858		 Expenditure
£
-
(6,257,313)
(6,257,313)
(78,032)
(220,646)
(298,678)
(6,555,991)		 Transfers
in/out
£
-
33,500
33,500
(46,845)
13,345
(33,500)
-		 Gains/
(Losses)
£
-
18,657
18,657
-
-
-
18,657		 Balance at
31 March
2025
£
199,000
5,664,906
5,863,906
54,385
43,283
97,668
5,961,574

Page 37

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

21. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Capital replacement
General funds
General Funds - all funds
Total Unrestricted funds
Restricted funds
Restricted Funds - all funds
Capital and equipment
Total of funds		 Balance at
1 April 2023
£
199,000
6,088,000
6,287,000
45,000
47,000
92,000
6,379,000		 As restated
Income
£
-
5,200,291
5,200,291
231,000
48,000
279,000
5,479,291		 Expenditure
£
-
(5,867,821)
(5,867,821)
(160,000)
-
(160,000)
(6,027,821)		 Gains/
(Losses)
£
-
13,580
13,580
-
-
-
13,580		 Balance at
31 March
2024
£
199,000
5,434,050
5,633,050
116,000
95,000
211,000
5,844,050

22. Summary of funds

Page 38

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. Summary of funds (continued)

Summary of funds - current year

Designated
funds
General funds
Restricted funds		 Balance at 1
April 2024
£
199,000
5,434,050
211,000
5,844,050		 Income
£
-
6,436,012
218,846
6,654,858
Balance at
1 April 2023
£
199,000
6,088,000
92,000
6,379,000		 Expenditure
£
-
(6,257,313)
(298,678)
(6,555,991)
As restated
Income
£
-
5,200,291
279,000
5,479,291		 Transfers
in/out
£
-
33,500
(33,500)
-
Expenditure
£
-
(5,867,821)
(160,000)
(6,027,821)		 Gains/
(Losses)
£
-
18,657
-
18,657
Gains/
(Losses)
£
-
13,580
-
13,580		 Balance at
31 March
2025
£
199,000
5,664,906
97,668
5,961,574
Balance at
31 March
2024
£
199,000
5,434,050
211,000
5,844,050
Summary of funds - prior year
Designated funds
General funds
Restricted funds

23. Analysis of net assets between funds Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
1,927,700
Fixed asset investments
525,099
Current assets
3,950,958
Creditors due within one year
(539,851)
Total
5,863,906		 Restricted
funds
2025
£
-
-
97,668
-
97,668		 Total
funds
2025
£
1,927,700
525,099
4,048,626
(539,851)
5,961,574

Page 39

THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

23. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
1,941,763
500,182
3,467,396
(276,291)
5,633,050		 Restricted
funds
2024
£
-
-
211,000
-
211,000		 Total
funds
2024
£
1,941,763
500,182
3,678,396
(276,291)
5,844,050

24. 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
Losses on investments
Dividends, interests and rents from investments
Loss/(profit) on the sale of fixed assets
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase in creditors
Net cash provided by operating activities		 Group
2025
£
117,524
157,440
(15,028)
(10,189)
(54,926)
(4,527)
(369,890)
247,670
68,074		 Group
2024
£
(535,246)
135,136
(14,573)
(13,431)
-
6,081
422,229
65,172
65,368

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THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

25. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 Group
2025
£
2,689,519
2,689,519		 Group
2024
£
2,709,893
2,709,893

26. Analysis of changes in net debt

Cash at bank and in hand
Liquid investments		 At 1 April
2024
£
206,438
2,503,455
2,709,893		 Cash flows
£
468,054
(488,529)
(20,475)		 At 31 March
2025
£
674,492
2,014,926
2,689,418

27. Pension commitments

The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £51,256 (2024 - £29,810) were payable to the fund at the balance sheet date and are included in creditors which relate to the final months payroll in the normal course of business.

28. Operating lease commitments

At 31 March 2025 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
Later than 5 years		 Group
2025
£
356,378
1,116,570
409,137
1,882,085		 Group
2024
£
398,181
1,469,762
931,490
2,799,433

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THE ST PETER AND ST JAMES CHARITABLE TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

29. Related party transactions

Donations from Trustees to the Charity amounted to £290 in 2024/25 (2023/24: £510). In addition, Trustees may have made small donations. One additional payment of £2,000 was paid by a trustee for attendance at a fundraising event.

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 £67,583 (2023/24: £107,747). A donation of £34,332. was made under gift aid from the trading subsidiary in the year (2023/24: £796).

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

30. Friends of St Peter and St James

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.

Profit and loss 2025
2024
£
£
Income-Donations 2,935
611
Income-Investments 4
-
Net income 2,939
611
Balance sheet
Debtors 75
75
Cash at bank 21,497
18,562
Net assets
Funds		 21,572
18,637
21,572
18,637

Page 42