``` REGISTERED COMPANY NUMBER: 03240240 (England and Wales) REGISTERED CHARITY NUMBER: 1057941 ``` ``` Audited Financial Statements for the Year Ended 31 March 2024 ``` ``` for ``` ``` Dove Cottage Day Hospice ``` ``` The Rowleys Partnership Ltd Statutory Auditors Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP ``` ``` Dove Cottage Day Hospice ``` ``` Contents of the Financial Statements for the Year Ended 31 March 2024 ``` ||**`Page`**| |---|---| |**`Reference and Administrative Details`**|`1`| |**`Report of the Trustees`**|`2 to 10`| |**`Report of the Independent Auditors`**|`11 to 14`| |**`Statement of Financial Activities`**|`15`| |**`Balance Sheet`**|`16`| |**`Cash Flow Statement`**|`17`| |**`Notes to the Cash Flow Statement`**|`18`| |**`Notes to the Financial Statements`**|`19 to 29`| |**`Detailed Statement of Financial Activities`**|`30 to 31`| ``` Dove Cottage Day Hospice ``` ``` Reference and Administrative Details for the Year Ended 31 March 2024 ``` |**`TRUSTEES`**|`C R Greenwell Lawyer (appointed 1.3.24)`| |---|---| ||`C L Henry Business Consultant (appointed 1.4.23)`| ||`M A Oldershaw Retired Counsellor & Chaplaincy Lead`| ||`(appointed 1.4.23)`| ||`K J Oliver GP (appointed 1.4.23)`| ||`M Quilter Retired Businessman (appointed 1.4.23)`| ||`C P Rowley Retired (appointed 1.4.23) (resigned 31.3.24)`| ||`J L E Jesson Self-Employed Builder & Agri Contractor`| ||`(resigned 14.11.23)`| |**`REGISTERED OFFICE`**|`Dove Cottage Day Hospice`| ||`Canal Lane`| ||`Stathern`| ||`Melton Mowbray`| ||`Leicestershire`| ||`LE14 4EX`| |**`REGISTERED COMPANY NUMBER`**|`03240240 (England and Wales)`| |**`REGISTERED CHARITY NUMBER`**|`1057941`| |**`AUDITORS`**|`The Rowleys Partnership Ltd`| ||`Statutory Auditors`| ||`Chartered Accountants`| ||`Charnwood House`| ||`Harcourt Way`| ||`Meridian Business Park`| ||`Leicester`| ||`Leicestershire`| ||`LE19 1WP`| |**`SOLICITORS`**|`Knights plc`| ||`34 Pocklingtons Walk`| ||`Leicester`| ||`LE1 6BU`| |**`BANKERS`**|`TSB`| ||`Henry Duncan House`| ||`120, George Street,`| ||`Edinburgh,`| ||`EH2 4LH`| ``` Page 1 ``` ``` Dove Cottage Day Hospice ``` ``` Report of the Trustees for the Year Ended 31 March 2024 ``` ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,present their reportwiththefinancialstatementsofthecharityfortheyearended31March2024.Thetrustees have adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ``` The twenty eighth Annual Report records a further year of the achievement of the aims of the charity. ``` ``` Thefocusofallofthecharity'sactivitiesistheguests,theirfamiliesandcarerswesupport.The continuance ofthisworkisdependentupontheon-goingvoluntarysupport,yearbyyear,ofthelocal community. Withoutthis,thepresentlevelandstandardofcarecouldnotbemaintained.Thissupportisitself built upon the charity's reputation for providing high quality care. ``` ## **`OVERALL PURPOSE`** ``` DoveCottageisavoluntaryorganisationthatcaresforupto100familieseveryweekthatareaffected by incurablelife-limitingconditions.OurhospiceisbasedatStathernnearMeltonMowbray.Ourcare services areprovidedfreeofcharge.Ourincomecomesfromavarietyofsources,themajorityofwhichis raised locally. ``` ## **`Our Aim`** ``` Ouraimistomaximisethequalityoflifeforthoselivingwithlife-limitingillnesseswithinour local community.Todeliveraservicethatisaccessible,thatshowscompassion,isdignifiedandgivescare to those families in need and offers respite for carers. ``` ## **`Our Mission`** ``` DoveCottageaimstodeliverthebestpossiblecarethrougharangeofservices,includingnursingcare, the provisionofinformation,emotionalsupport,therapeuticanddiversionaltherapies.Throughsuch activities we hope to maximise self-reliance, minimise dependency and promote confidence and self-esteem. ``` ``` Weaimtoofferasupportsystemandvaluablerespitecaretothefamilyduringthepatient'sillnessand in theirbereavement.Weworkinpartnershipwithothercareproviderstoensurethattheneedsofthe family are met to the highest level possible. ``` ``` We are fully compliant with all relevant regulators. ``` ``` We believe in transparency and good stewardship. ``` ``` Toensurethattheserviceprovisionissustainableandcontinuouslyimprovedtomatchtheevolvingneeds of our local area. ``` ## **`Our Values`** ``` C aring A bove and beyond R espect I ntegrity N urturing G iving ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ``` Page 2 ``` ``` Dove Cottage Day Hospice ``` ``` Report of the Trustees for the Year Ended 31 March 2024 ``` ## **`Trustee Board Members`** ``` TheboardisresponsiblefortheoverallgovernanceoftheCharity.(TheChiefExecutiveisresponsiblefor the day-to-day management and for implementing policy.) ``` ``` Theboardhasuptotenmembers.MembersoftheboardareelectedattheAnnualGeneralMeeting.A third ofthemembershiphastoretireeachyear.Retiringmembersmaystandforre-electionandmayserve for nineconsecutiveyears.Theboardcarriesoutaregulartrusteeskillsaudittoidentifytheindividualskills and experiencethatitneedstohaverepresentedinitsmembershipinordertoproperlydischarge its responsibilities.Candidatesfromthelocalcommunityforelectiontotheboardmaybeproposedeither by the board itself or through open advert set against the skill set being sought. ``` ``` Priortoelectionorappointment,aprospectiveboardmembermeetswiththeChairman,ChiefExecutive and withoneormoretrusteesinordertobeabletoappreciatethenatureoftheroleofbeingatrusteeof Dove Cottage,ofbeingadirectorofthecompanyandofthescopeoftheCharity'sservicesandofits work togetherwithinformationonthefinancialstatusofthecompany.Thereisaninductionprogrammefor new trustees in order to enable them to contribute effectively as members of the board. ``` ## **`Liability of Members`** ``` TheCharityisacompanylimitedbyguaranteeandisgovernedbyitsMemorandumandArticles of Associationdated21stMarch2023.Ithasnosharecapital.TheMemorandumofAssociationprovides that everymemberwhilsthe/sheisamemberorwithinoneyearafterhe/sheceasestobeamemberisliable to contribute a sum not exceeding £10.00 in the event of the company being wound up. ``` ## **`Governance`** ``` Theboardmeetssixtimesayear.Duetothelimitedsizeoftheorganisationthereisnocommittee structure in place. ``` ``` TheTrusteeshaveregardtothematterssetoutinSection172(1)(a)to(f)whenperformingtheirduty under S172 of the Companies Act. ``` ## **`IMPACT`** ## **`The objects of the charity are as follows:`** - `Provide day care and support for terminally ill persons` - `Offer respite relief for the carers of the terminally ill` - `Offer emotional support for the families of the terminally ill` - `Provide support to persons with dementia and their carers` ``` Wetakeseriouslyequalityanddiversityinourethostobeacceptingofallguestsandprovideasafe, secure, andpleasantsocialenvironment.Allstaffandvolunteersarewelcoming,andourdaycareprovision includes familysupport,accesstoabathandcomplementarytherapies,opportunitiesforsocialinteraction, faith explorationandavastarrayofcreativetherapiesandgardening,inexceptionallypleasantandpeaceful rural surroundings.Wevalueveryhighlytheindividual'srighttochoosehowtheyspendtheirdayandmake every effort to offer choice and encourage independence taking into consideration any known risks. ``` ``` Page 3 ``` ``` Dove Cottage Day Hospice ``` ``` Report of the Trustees for the Year Ended 31 March 2024 ``` ``` Ourdaycareserviceplacesareofferedfourdaysperweek.Inthepastyearwehaveendeavouredto provide amorerehabilitativemodelofsupportonMonday's,forpeoplewhoaremoreindependentandtheir carers. Inaddition,monthlyonlinedementiasupportgroupsforcarersareheldmonthlyandaweeklyhome sitting serviceforthoselivingwithdementiaisinplacetogivecarerssomerespite.Wealsohelda monthly wellbeing and support day in Empingham, Rutland, for persons living with terminal illness and their carers. ``` ``` AllusersofourserviceshaveaccesstoseniornursingstaffandtheRegisteredManageriftheyhave any problems or issues that they wish to discuss. ``` ``` TheTrusteeshavepaiddueregardtoguidanceissuedbytheCharityCommissionindecidingwhat activities the charity should undertake. ``` ## **`Achievements in Provision of care`** ``` TheservicesofferedbyDoveCottageareavailableforindividualsovertheageof18years,witha diagnosis ofcancerwherethetreatmentispalliativeinnatureandforindividualswhoarelivingwithother advanced, progressive, incurable diseases, including those with physical disability and sensory impairment. ``` ``` Thecriteriaforattendancecanresultinawiderangeofabilitiesandneeds.Inviewofthis,all individuals willhaveaholisticnursingassessmentcarriedoutinthecomfortoftheirownhomebyoneofthe registered nurses. This assessment looks at the person as a whole and is very much needs led. ``` ``` TheDoveCottagepremisesaregroundlevelbuildingsaccessibletoindividualswhousewheelchairsand have impairedmobility.Wehavelargeairyroomsandspaceforpeopletobewithothersortobe alone. Additionalroomsareavailableforcomplementarytherapies,individualcare,socialactivitiesand spiritual support.Weaimtopromoteahomelyandpeacefulatmosphereinwhichcreativityandpersonalgrowth can be facilitated. ``` ``` Ouraimistomaximisethequalityoflifeofthosewhoattendbyofferingarangeofservices,including the provisionofinformation,signposting,emotionalsupport,andtherapeuticanddiversionaltherapies. Through suchactivitieswehopetopromoteandencourageindependence,minimisedependencyand increase confidence and self-esteem. ``` ``` Weaimtoofferasupportsystemandvaluablerespitecaretothefamilyduringthepatient'sillnessand in their bereavement. ``` ``` Referralstoallserviceshaveremainedstablethroughoutthereportingyear,althoughwehadawaiting list atthebeginningoftheyear.Wehavetriagedappropriatelyandnowholdnowaitinglistwiththe individuals with the greatest need and shortest prognosis being prioritised. ``` ``` Theregisteredmanagerisresponsibleforallclinicalactivity,alongsidetheClinicalLeadandallcare is providedbyateamofhighcalibrenursesandhealthcareassistants.Theteamissupportedbyateam of trained volunteers, complementary therapists with practising privileges and volunteer chaplains. ``` ``` Referralsareacceptedfromallhealthandsocialcareprofessionalsaswellasself-referrals.Referralsto all serviceshaveincreasedduringthereportingperiodandsufficientclinicalstaffinglevelsandskillsmix were maintainedtomanageallpresentingpatientneeds.Staffinglevelsandrequirementsoftheservice are closelymonitored.TheRegisteredManagerreportstotheTrusteesateachTrusteemeetingonthe clinical aspect of the service. ``` ``` Page 4 ``` ``` Dove Cottage Day Hospice ``` ``` Report of the Trustees for the Year Ended 31 March 2024 ``` ``` Theboardmonitorstheclinicalactivityregularlyinordertoensureboththatthecharity'sresources are beingusedeffectivelyandthatitisobtaining'valueformoney'fromthefundsbeingspenton service provision. ``` ## `Clinical Services -` - `Day Care - Tuesday, Wednesday and Thursday` - `Wellbeing Day - Monday's` - `Dementia Sitting Service - Tuesday's` - `Online Dementia Support Group - Monthly - Friday's` - `Complementary Therapies - Available Monday - Thursday` - `Rutland Wellbeing Group - Monthly - Tuesday's` - `Bathing Service - Available Monday - Thursday` - `Bereavement Support - Weekly telephone support` ## **`LOROS Hospice`** ``` DoveCottageisasubsidiarycharityofLOROS.LOROSHospice,alargeinpatienthospicewhichalso provides communityservices,outpatientservices,research,education,anddayservices,basedinLeicester.Since its establishmentin1985,LOROShasbeencaringforpatientslivingwithaterminalillness,andtheir families, acrossLeicester,LeicestershireandRutlandandhasdevelopedintoasuccessfullocalcharity.Since its mergerwithLOROSbychangeofcontrolin2023,DoveCottagehasextendeditsdayprovisionbyaday a weekandundertakenanextensiveimprovementprogrammetoaddressrecommendationssetoutinthe most recentreportoftheCareQualityCommission.Withthesupportthelocalcommunity,anewsensory garden was opened in summer 2024, for the benefit of guests and their families. ``` ## **`Future plans`** ``` Thiscomingyear,theboardwillpublishastrategicplancoveringtheperiod2024-27.Thefollowing five priorities are at the heart of the new strategy. ``` ## **`Strategic Priorities`** ``` TheBoardhaveclassifiedthestrategicprioritiesforthenextthreeyearsintofourbroadcategoriesas set out below. ``` |`Services:`|`Review all service provision to assess the optimum model for delivery of high-quality`| |---|---| ||`care.`| ||`Strive to enhance the quality of current services and ensure that any new services are`| ||`to the same high standards.`| ||`Development of more evidence-based outcomes from the services provided to assist`| ||`with funding requests.`| |`People:`|`To ensure that staff are well-trained and set clear objectives in line with the`| ||`organisational aims.`| ||`To ensure that volunteer numbers are maintained and enhanced, ensuring that we use`| ||`the knowledge and experience of volunteers effectively.`| ||`To value the contribution of all staff and volunteers ensuring that communication is`| ||`enhanced, and successes celebrated.`| |`Finance and`|`To ensure that financial stability is enhanced to be able to provide continuity of`| |`Sustainability:`|`services.`| ||`Look at ways to improve efficiencies and effectiveness.`| ``` Page 5 ``` ``` Dove Cottage Day Hospice ``` ``` Report of the Trustees for the Year Ended 31 March 2024 ``` ||`Implement more detailed plans for income generation to obtain higher levels of income`| |---|---| ||`and supporter engagement.`| |`Governance and`|`Ensure compliance with regulatory standards and that Dove Cottage operates in line`| |`Leadership:`|`with its governing documents.`| ||`Ensure that the governance framework in place is enhanced and that the Board`| ||`regularly reviews its performance both as a body and as individual trustees.`| ||`Ensure that there is a strong and effective risk management system in place and that`| ||`appropriate board policies are maintained.`| ## **`PUBLIC BENEFIT`** ``` Dove Cottage Day hospice aims to provide a public benefit in the following manner - ``` - `Our services are free at the point of access and are available to anyone living within our catchment area (N.E. Leicestershire, S.E. Nottinghamshire, SW Lincolnshire and the Rutland area) with a diagnosis of a life limiting disease who meet our criteria.` - `Dove Cottage does not provide children's services which are available in other settings and Dove Cottages' guests are aged eighteen years and upwards.` - `Guests receiving Dove Cottage services would in many cases, if not supported by Dove Cottage, be drawing upon further NHS resources.` - `The directors consider that they have complied with their duties under section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charities Commission.` ## **`RELATIONSHIPS WITH OTHER BODIES`** ``` Inco-ordinatinganddevelopingpatientservicesDoveCottage,asan"independentprovider",works closely with other local health providers both within the statutory and voluntary sectors. ``` ``` DoveCottages'NHSGrantFundinghasbeenprovidedthroughtheLeicester,Leicestershireand Rutland Integrated Care Board. ``` ``` WhilsttheNHSprovideslessthan3%ofthecharity'sannualrevenueDoveCottagedoesrelyheavilyupon the continuityofprovisionoftheNHSincome(whetherbygrantorthroughsomeotherformofagreement) and any reduction in this funding would have a direct impact upon the level of service provision. ``` ## **`Care Quality Commission (CQC)`** ``` ThelastCQCinspectionwasinApril2022whenwewereratedas'Good'in2areasand 'Improvement Required'in3areasWeweredisappointedbythefindingsfromthelatestinspection.AnActionPlanwas put in place to address the deficiencies identified. ``` ``` SincethemergerwithLOROSHospiceandappointmentofanewRegisteredManagerandClinicalLead we havecontinuedtoaddresstheactionplanandmademanyimprovements,particularlyfocussingin the following areas - ``` - `Training for staff and volunteers` - `Personnel record keeping` - `Facilities and equipment upgrades` - `Infection prevention` - `IT infrastructure` - `Staff Wellbeing` - `Internal Communications` ``` Page 6 ``` ``` Dove Cottage Day Hospice ``` ``` Report of the Trustees for the Year Ended 31 March 2024 ``` ``` We have communicated these improvements to CQC and have had no further inspection to date. ``` ## **`FINANCIAL REVIEW`** ``` The2023/2024financialyearcontinuedtohaveaboveaverageinflation,thegeneralimpactof the cost-of-livingcrisisonpeoples'financesandthestateoftheeconomygenerallyprovidedadifficultbasis for theyear.Assaidlastyeartheseimpactstogetherwiththeneedtoimplementanewmanagement structure andspendingtoimprovefacilitiesprovidedchallenges.Onceagain,theHospicehasreceivedagoodlevel of legacies which has helped to maintain reserves at a satisfactory level. ``` ``` Thedirectorsseektobalancecarefullythedemonstrationoffinancialprudencewithaneedto maximise spendingonguestservicesfromdonatedfunds.Theyareoftheviewthatthe2024/2025financialyear will continue to be challenging and as normal, they will monitor finances closely throughout the year. ``` ``` A surplus of £174,440 (2023: £12,638) was recorded in the financial year. ``` ## **`COST OF PROVISION OF CARE (Activities in furtherance of the objects of the charity)`** ## **`Charitable Activities`** ``` The cost of charitable activities at £634,608 (2023: 610,160) was up 4% on the previous year. ``` ## **`INCOMING RESOURCES`** ``` Section162aoftheCharitiesAct2011requirescharitiestomakeastatementregarding fundraising activities.AlthoughDoveCottagedoesnotundertakewidespreadfundraisingfromthegeneral public, certainlyoutsideofNELeicestershire,Rutland,SENottinghamshireandSWLincolnshire,the legislation definesfundraisingas'solicitingorotherwiseprocuringmoneyorotherpropertyforcharitable purposes." Such amounts receivable are presented in our accounts as 'voluntary income' and include legacies and grants. ``` ``` Inrelationtotheabove,weconfirmthatallsolicitationsaremanagedinternally.The day-to-day managementofallincomegenerationisdelegatedtothemanagementteam,whoareaccountableto the trustees. ``` ``` TheCharityisnotboundbyanundertakingtobeboundbyanyregulatoryschemebutismindfulof and adherestotheFundraisingRegulatorsCodeofPractice,CharityCommissionGuidelinesand Regulations, Gambling Commission and Data Management enforced by the Information Commissioners' Office. ``` ``` ThecharityhasaSafeguardingPolicywhichservestoprotectnotonlyourownstaffbutalsothose people deemedtobevulnerablewithwhomDoveCottagemaycomeintocontactthroughfundraising activities includingserviceinourshopsandcontactatorthroughfundraisingevents.Unreasonable intrusion, persistent approaches and undue pressure are not acceptable. ``` ## **`National Health Service (NHS)`** ``` Lessthan3%ofcurrentunrestrictedcharitableexpenditurewascoveredbygrantsfromtheNHSfroma single discretionarygrant.Theoverallamountbeing£30,380,thisremainedthesameasthepreviousyearwith no upliftreceivedsince2021anddoesnotreflecttheinflationarypressuresandhighenergycostson the hospice. ``` ``` Page 7 ``` ``` Dove Cottage Day Hospice ``` ``` Report of the Trustees for the Year Ended 31 March 2024 ``` ## **`Donations, legacies and similar incoming resources`** ``` ApartfromtheNHSmonies,theCharityheavilyrelieduponthecontinuedgenerosityofthepeople and organisationsofLeicestershire,Nottinghamshire,LincolnshireandRutland.Theincomereceivedinthe year was £472,962 (2023: £331,370), 42% more than last year. ``` ## **`Fundraising`** ``` DoveCottageundertakesanumberoffundraisingactivitiestogeneratevoluntarydonationstowardsour core work.Theboardvalueshighlythesubstantialamountthatisraisedeachyearfromthelocalcommunity by wayofvoluntaryincome.Ourfundraisingisemployeeandvolunteerled.Wedonotemploytheservices of external agencies for general fundraising. ``` ``` Trustsandgrantincomehasalwaysmadeupahighproportionofincome,thelastfinancialyearwe have increasedourresourcesinthisarea.Allowingustodoubleourincomeandobtainedanumberof restricted grants, which have helped us improve services to guests and facilities. ``` ``` Wearecommittedtobuildingtrustwithoursupporters,whichiswhywearemembersofthe Fundraising Regulator and Charity Retail Association. ``` ``` During the financial year 2023-2024 we received no complaints relating to our fundraising activity. ``` ## **`Dove Cottage shops`** ``` Dove Cottage operates four physical shops and three eBay shops. ``` ``` The overall reported profit contribution of £48,140 was 30% up on the previous year. ``` ``` Someyearsago,aschemetoenableretailgiftaidtobeclaimedonsomedonationsthroughthecharity was launched. This financial year we have generated £12,121 from retail gift aid. ``` ``` Theshopsdependuponlocalsupportbothforthesuppliesofgoodqualitydonateditems,fromwhich the shops derive nearly all of their profits, and for sufficient numbers of volunteer helpers. ``` ## **`Legacies`** ``` Legaciescanbethecharity'slargestsinglesourceofincomebuttheleveleachyearcan fluctuate significantly.Thisyearlegacyincomeof£288,228represented65%ofDoveCottages'totalvoluntary income (comparedwith39%in2022/23,29%in2021/22,5%in2020/21and1%in2019/20).Theamountof legacy incomeaccountedforcanmakeaverygreatdifferencetotheoverallresults.Legacyincome is unpredictable,becauseofthepotentialforsignificantfluctuationstheboardiscircumspectinthedegree to which, in any one year, it relies upon legacy income in order to fund the on-going revenue expenditure. ``` ## **`Volunteers`** ``` Inadditiontotheincomeevaluatedinthestatementoffinancialactivities,thecharityisdependent upon thesupportofapproximately140regularvolunteers.Volunteeractivitiesspanthewholerangeof functions fromfundraisingtoserviceprovision.Thedirectorsareoftheopinionthatitwouldbeimpractical to attempt to quantify the value of work done by volunteers. ``` ``` Page 8 ``` ``` Dove Cottage Day Hospice ``` ``` Report of the Trustees for the Year Ended 31 March 2024 ``` ## **`RESERVES POLICY`** ``` TheCharityCommissionconsideritprudenttoretainanappropriateleveloffreereservesfor the maintenanceofessentialservicesforbeneficiaries.Ourreserveshelptoaddresstheriskstoourservice users (inparticular,vulnerableguests),aswellasourstaff,shouldasignificantfallinfundingstreamsoccur that, withoutthepresenceofreserves,mayleadtoanunplannedclosureofthewholeorpartoftheservice. We feelitessentialthatenoughreservesareheldtoenableustocontinueoperatingforaperiodwhere we wouldseekalternativeincomestreams,andifthisprovedtonotbethecaseamanagedclosureofthe whole or part of the service. ``` ``` Thebenchmarkforourreservesisbasedonannualexpendituresinceourincomestreamsarenot guaranteed andaresubjecttovariation.Thecurrentpolicyistomaintainreservesat50%ofannualexpenditure. In addition,itwasagreedtohavespecificreservesof£50,000forbothvehiclereplacementsandbuildings. The target range for reserves will be subject to periodic review by the Trustees. ``` ``` Thereserves(includingdesignatedfunds)attheyear-endamountedto£698,366upfrom£523,926. These aresplitbetweenUnrestrictedfundsof£389,779,Designatedfundsof£275,000andRestrictedfunds of £33,587. ``` ``` Thetotalreservesat31March2024areinexcessoftheamountrequiredbytheReservesPolicy. However, duetothebudgetsinplacefor2024/2025,thedirectorsbelievethattheexcesswillbereducedduring the current year. ``` ## **`SUMMARY`** ``` DespitethesignificantissuesintheUKeconomyoverthelastyear,DoveCottagehaslargelybeenable to sustainitsrangeandlevelofclinicalactivitieswhichprovidesuchexcellentandvaluedcareandsupport for guestsandfamilymembersacrossNELeicestershire,SENottinghamshire,SWLincolnshireandRutland. The overallfinancialpositionisbeingmonitoredverycarefullyandwillremainakeyfocusinallthatcan be achieved going forwards in such a volatile time. ``` ``` Thanksmustbeexpressedtothepeopleandorganisationswithinourgeographicalareaswhohave enabled DoveCottagetoachievesomuchandwhohavecontributedtotheraisingofahugeamountof voluntary incomeintheyear.ItisthepartnershipbetweenDoveCottage,theNHSandthewidercommunitythat has over the years enabled the aims of Dove Cottage to be realised. Noneofwhathasbeensetoutcouldhavebeenachievedwithoutthehardworkanddedicationof Dove Cottages'skilledstaffandvolunteers.Theboardthanksallofthestaffandvolunteersfortheir commitment to the work of the Charity. ``` ``` ThedirectorsareconfidentthatDoveCottagehasanimportantandcontinuingplaceasaprovider of high-qualitycare,asanupholderoftheethosandvaluestowhichithasalwaysheldandasanadvocate for guests and their families. ``` ## **`STRATEGIC REPORT`** ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimited company, limited by guarantee, as defined by the Companies Act 2006. ``` ``` Page 9 ``` ``` Dove Cottage Day Hospice ``` ``` Report of the Trustees for the Year Ended 31 March 2024 ``` ## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES`** ``` Thetrustees(whoarealsothedirectorsofDoveCottageDayHospiceforthepurposesofcompanylaw) are responsibleforpreparingtheReportoftheTrusteesandthefinancialstatementsinaccordance with applicablelawandUnitedKingdomAccountingStandards(UnitedKingdomGenerallyAccepted Accounting Practice). ``` ``` Companylawrequiresthetrusteestopreparefinancialstatementsforeachfinancialyearwhichgivea true andfairviewofthestateofaffairsofthecharitablecompanyandoftheincomingresourcesand application ofresources,includingtheincomeandexpenditure,ofthecharitablecompanyforthatperiod.In preparing those financial statements, the trustees are required to ``` - `select suitable accounting policies and then apply them consistently;` - `observe the methods and principles in the Charity SORP;` - `make judgements and estimates that are reasonable and prudent;` - `prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.` ``` Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonable accuracy atanytimethefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthe financial statementscomplywiththeCompaniesAct2006.Theyarealsoresponsibleforsafeguardingtheassetsof the charitablecompanyandhencefortakingreasonablestepsforthepreventionanddetectionoffraud and other irregularities. ``` ``` In so far as the trustees are aware: ``` - `there is no relevant audit information of which the charitable company's auditors are unaware; and` - `the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.` ## **`AUDITORS`** ``` Theauditors,TheRowleysPartnershipLtd,willbeproposedforre-appointmentattheforthcoming Annual General Meeting. ``` ``` Reportofthetrustees,incorporatingastrategicreport,approvedbyorderoftheboardoftrustees,as the company directors, on 31 October 2024 and signed on the board's behalf by: ``` ``` C L Henry - Trustee ``` ``` Page 10 ``` ``` Report of the Independent Auditors to the Members of Dove Cottage Day Hospice ``` ## **`Opinion`** ``` WehaveauditedthefinancialstatementsofDoveCottageDayHospice(the'charitablecompany')for the yearended31March2024whichcomprisetheStatementofFinancialActivities,theBalanceSheet,the Cash FlowStatementandnotestothefinancialstatements,includingasummaryofsignificant accounting policies.Thefinancialreportingframeworkthathasbeenappliedintheirpreparationisapplicablelaw and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ``` ``` In our opinion the financial statements: ``` - `give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;` - `have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and` - `have been prepared in accordance with the requirements of the Companies Act 2006.` ## **`Basis for opinion`** ``` WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK)) and applicablelaw.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe Auditors' responsibilitiesfortheauditofthefinancialstatementssectionofourreport.Weareindependentof the charitablecompanyinaccordancewiththeethicalrequirementsthatarerelevanttoourauditof the financialstatementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilledourother ethical responsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidencewe have obtained is sufficient and appropriate to provide a basis for our opinion. ``` ## **`Conclusions relating to going concern`** ``` Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasis of accounting in the preparation of the financial statements is appropriate. ``` ``` Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelatingto events orconditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharitablecompany's ability tocontinueasagoingconcernforaperiodofatleasttwelvemonthsfromwhenthefinancialstatements are authorised for issue. ``` ``` Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedin the relevant sections of this report. ``` ## **`Other information`** ``` Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisesthe information includedintheAnnualReport,otherthanthefinancialstatementsandourReportofthe Independent Auditors thereon. ``` ``` Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttothe extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. ``` ``` Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheother information and,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththe financial statementsorourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.If we identifysuchmaterialinconsistenciesorapparentmaterialmisstatements,wearerequiredto determine whetherthisgivesrisetoamaterialmisstatementinthefinancialstatementsthemselves.If,basedon the workwehaveperformed,weconcludethatthereisamaterialmisstatementofthisotherinformation, we are required to report that fact. We have nothing to report in this regard. ``` ``` Page 11 ``` ``` Report of the Independent Auditors to the Members of Dove Cottage Day Hospice ``` ## **`Opinions on other matters prescribed by the Companies Act 2006`** ``` In our opinion, based on the work undertaken in the course of the audit: ``` - `the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and` - `the Report of the Trustees has been prepared in accordance with applicable legal requirements.` ## **`Matters on which we are required to report by exception`** ``` Inthelightoftheknowledgeandunderstandingofthecharitablecompanyanditsenvironmentobtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. ``` ``` WehavenothingtoreportinrespectofthefollowingmatterswheretheCompaniesAct2006requiresus to report to you if, in our opinion: ``` - `adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or` - `the financial statements are not in agreement with the accounting records and returns; or` - `certain disclosures of trustees' remuneration specified by law are not made; or` - `we have not received all the information and explanations we require for our audit.` ## **`Responsibilities of trustees`** ``` AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoarealso the directorsofthecharitablecompanyforthepurposesofcompanylaw)areresponsibleforthepreparation of thefinancialstatementsandforbeingsatisfiedthattheygiveatrueandfairview,andforsuch internal controlasthetrusteesdetermineisnecessarytoenablethepreparationoffinancialstatementsthatare free from material misstatement, whether due to fraud or error. ``` ``` Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitable company's abilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernand using thegoingconcernbasisofaccountingunlessthetrusteeseitherintendtoliquidatethecharitable company or to cease operations, or have no realistic alternative but to do so. ``` ``` Page 12 ``` ``` Report of the Independent Auditors to the Members of Dove Cottage Day Hospice ``` ## **`Our responsibilities for the audit of the financial statements`** ``` Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawhole are freefrommaterialmisstatement,whetherduetofraudorerror,andtoissueaReportofthe Independent Auditorsthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnota guarantee thatanauditconductedinaccordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhen it exists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorin the aggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthe basis of these financial statements. ``` ``` Irregularities,includingfraud,areinstancesofnon-compliancewithlawsandregulations.We design proceduresinlinewithourresponsibilities,outlinedabove,todetectmaterialmisstatementsinrespect of irregularities,includingfraud.Theextenttowhichourproceduresarecapableofdetecting irregularities, including fraud is detailed below: ``` - `We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant which are directly relevant to specific assertions in the financial statements are those related to the financial report frameworks (UK Generally Accepted Accounting Practice, the Companies Act 2006) and the relevant tax compliance regulations in the jurisdiction in which the company operates;` - `We enquired of management whether they were aware of any instances of non-compliance with laws and regulations, or whether they had any knowledge of actual, suspected or alleged fraud;` - `We assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur;` - `Our testing considered unusual or unexpected journal entries on a sample basis;` - `We evaluated the assumptions and judgements used by management within significant accounting estimates and assessing if these indicate evidence of management bias;` - `We tested significant transactions, in particular the evaluation of the business rationale for any which appear unusual or outside the company's normal course of business;` - `We assessed the appropriateness of the collective competence and capabilities of the engagement team by understanding the practical experience with audit engagements of a similar nature and complexity, plus ensuring the team had appropriate and relevant training of the financial reporting framework and the relevant tax compliance regulations specific to the entity;` - `We reviewed the financial statements and tested the disclosures against supporting documentation; and` - `We communicated relevant matters to all members of the audit team to ensure they understood the risks specific to the entity and the audit procedures planned to mitigate these.` ``` Becauseoftheinherentlimitationsofanaudit,thereisariskthatwewillnotdetectall irregularities, includingthoseleadingtoamaterialmisstatementinthefinancialstatementsornon-compliance with regulation.Thisriskincreasesthemorethatcompliancewithalaworregulationisremovedfromthe events andtransactionsreflectedinthefinancialstatements,aswewillbelesslikelytobecomeawareof instances ofnon-compliance.Theriskisalsogreaterregardingirregularitiesoccurringduetofraudratherthan error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. ``` ``` Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedon the FinancialReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescriptionforms part of our Report of the Independent Auditors. ``` ## **`Other matters which are required to address`** ``` Thecorrespondingfiguresinthesefinancialstatementswereunaudited.Wehaveobtainedsufficient and appropriate audit evidence that the opening balances do not contain material misstatements. ``` ``` Page 13 ``` ``` Report of the Independent Auditors to the Members of Dove Cottage Day Hospice ``` ## **`Use of our report`** ``` Thisreportismadesolelytothecharitablecompany'smembers,asabody,inaccordancewithChapter3 of Part16oftheCompaniesAct2006.Ourauditworkhasbeenundertakensothatwemightstateto the charitablecompany'smembersthosematterswearerequiredtostatetotheminanauditors'reportand for nootherpurpose.Tothefullestextentpermittedbylaw,wedonotacceptorassumeresponsibility to anyoneotherthanthecharitablecompanyandthecharitablecompany'smembersasabody,forour audit work, for this report, or for the opinions we have formed. ``` ``` Lisa G Parkes FCA FCCA (Senior Statutory Auditor) for and on behalf of The Rowleys Partnership Ltd Statutory Auditors Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester Leicestershire LE19 1WP ``` ``` 31 October 2024 ``` ``` Page 14 ``` ``` Dove Cottage Day Hospice ``` ## **`Statement of Financial Activities for the Year Ended 31 March 2024`** |`Unrestricted`
`funds`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`3`
`398,469`
`Raising funds`
`4`
`360,606`
`Investment income`
`5`
`6,681`
**`Total`**
`765,756`
**`EXPENDITURE ON`**
**`Charitable activities`**
`6`
`General`
`394,644`
`Charity shops`
`227,225`
`Rutland Hospice`
`3,034`
**`Total`**
`624,903`
**`NET INCOME`**
`140,853`
**`Transfers between funds`**
`16`
`8,748`
**`Net movement in funds`**
`149,601`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`523,926`
**`TOTAL FUNDS CARRIED FORWARD`**
`673,527`|`Restricted`
`funds`
`£`
`41,292`
`-`
`-`
`41,292`
`7,705`
`-`
`-`
`7,705`
`33,587`
`(8,748)`
`24,839`
`-`
`24,839`|`2024`
`Total`
`funds`
`£`
`439,761`
`360,606`
`6,681`
`807,048`
`402,349`
`227,225`
`3,034`
`632,608`
`174,440`
`-`
`174,440`
`523,926`
`698,366`|`2023`
`Total`
`funds`
`£`
`287,267`
`333,356`
`2,175`| |---|---|---|---| ||||`622,798`| ||||`349,626`
`243,668`
`16,866`| ||||`610,160`| ||||`12,638`
`-`| ||||`12,638`
`511,288`| ||||`523,926`| ``` The notes form part of these financial statements ``` ``` Page 15 ``` ``` Dove Cottage Day Hospice (Registered number: 03240240) ``` ## **`Balance Sheet`** ## **`31 March 2024`** |`Unrestricted`
`funds`
`Notes`
`£`
**`FIXED ASSETS`**
`Tangible assets`
`12`
`32,918`
**`CURRENT ASSETS`**
`Debtors`
`13`
`238,081`
`Cash at bank and in hand`
`434,837`
`672,918`
**`CREDITORS`**
`Amounts falling due within one year`
`14`
`(32,309)`
**`NET CURRENT ASSETS`**
`640,609`
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
`673,527`
**`NET ASSETS`**
`673,527`
**`FUNDS`**
`16`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|`Restricted`
`funds`
`£`
`-`
`-`
`24,839`
`24,839`
`-`
`24,839`
`24,839`
`24,839`|`2024`
`Total`
`funds`
`£`
`32,918`
`238,081`
`459,676`
`697,757`
`(32,309)`
`665,448`
`698,366`
`698,366`
`673,527`
`24,839`
`698,366`|`2023`
`Total`
`funds`
`£`
`365`
`24,124`
`554,768`
`578,892`
`(55,331)`
`523,561`
`523,926`
`523,926`
`523,926`
`-`
`523,926`| |---|---|---|---| ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on 31 October 2024 and were signed on its behalf by: ``` ``` C L Henry - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 16 ``` ``` Dove Cottage Day Hospice ``` ## **`Cash Flow Statement`** ## **`for the Year Ended 31 March 2024`** |`Notes`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`Net cash (used in)/provided by operating activities`
**`Cash flows from investing activities`**
`Purchase of tangible fixed assets`
`Interest received`
`Net cash (used in)/provided by investing activities`
**`Change in cash and cash equivalents in`**
**`the reporting period`**
**`Cash and cash equivalents at the`**
**`beginning of the reporting period`**
**`Cash and cash equivalents at the end`**
**`of the reporting period`**|`2024`
`£`
`(65,429)`
`(65,429)`
`(36,344)`
`6,681`
`(29,663)`
`(95,092)`
`554,768`
`459,676`|`2023`
`£`
`52,501`
`52,501`
`(424)`
`2,175`
`1,751`
`54,252`
`500,516`
`554,768`| |---|---|---| ``` The notes form part of these financial statements ``` ``` Page 17 ``` ``` Dove Cottage Day Hospice ``` ``` Notes to the Cash Flow Statement for the Year Ended 31 March 2024 ``` ## **`1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES`** |**`Net income for the reporting period (as per the Statement of`**
**`Financial Activities)`**
**`Adjustments for:`**
`Depreciation charges`
`Loss on disposal of fixed assets`
`Interest received`
`Increase in debtors`
`(Decrease)/increase in creditors`
**`Net cash (used in)/provided by operations`**|`2024`
`£`
`174,440`
`3,426`
`365`
`(6,681)`
`(185,174)`
`(51,805)`
`(65,429)`|`2023`
`£`
`12,638`
`49,755`
`-`
`(2,175)`
`(12,213)`
`4,496`| |---|---|---| |||`52,501`| ## **`2. ANALYSIS OF CHANGES IN NET FUNDS`** ||`At 1.4.23`|`Cash flow`|`At 31.3.24`| |---|---|---|---| ||`£`|`£`|`£`| |**`Net cash`**|||| |`Cash at bank and in hand`|`554,768`|`(95,092)`|`459,676`| ||`554,768`|`(95,092)`|`459,676`| |**`Total`**|`554,768`|`(95,092)`|`459,676`| ``` The notes form part of these financial statements ``` ``` Page 18 ``` ``` Dove Cottage Day Hospice ``` ``` Notes to the Financial Statements for the Year Ended 31 March 2024 ``` ## **`1. CHARITY INFORMATION`** ``` DoveCottageDayHospiceisaprivatecompanylimitedbyguaranteeEnglandandWales.The address of the charity is given in the charity information on page 1 of these financial statements. ``` ## **`2. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102, havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland (FRS 102)(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard applicableintheUKandRepublicofIreland'andtheCompaniesAct2006.Thefinancial statements have been prepared under the historical cost convention. ``` ``` Thefinancialstatementshavebeenpreparedasagoingconcernunderthehistoricalcost convention exceptforthevaluationoninvestmentassetswhereappropriate,whichareshownatmarket value. Thefinancialstatementsarepresentedinsterlingwhichisthefunctionalcurrencyofthecharity and roundedtothenearest£1.Thesignificantaccountingpoliciesappliedinthepreparationof these financial statements are set out below. ``` ## **`Critical accounting judgements and key sources of estimation uncertainty`** ``` Intheapplicationofthecharity'saccountingpolicies,theTrusteesarerequiredtomake judgements, estimatesandassumptionsaboutthecarryingamountofassetsandliabilitiesthatarenot readily apparentfromothersources.Theestimatesandassociatedassumptionsarebasedon historical experienceandotherfactorsthatareconsideredtoberelevant.Actualresultsmaydifferform these estimates. ``` ``` Theestimatesandunderlyingassumptionsarereviewedonanongoingbasis.Revisionsto accounting estimatesarerecognisedintheperiodinwhichtheestimateisrevisedwheretherevisionaffects only thatperiod,orintheperiodoftherevisionandfutureperiodswheretherevisionaffectsboth current and future periods. ``` ## **`Income`** ``` AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ``` Cashdonationsarerecognisedonreceipt.Otherdonationsarerecognisedoncethecharityhas been notifiedofthedonation,unlessperformanceconditionsrequiredeferraloftheamount.Income tax recoverableinrelationtodonationsreceivedunderGIftAidordeedsofcovenantisrecognisedat the time of the donation. ``` ``` Legaciesarerecognisedonreceiptorotherwiseifthecharityhasbeennotifiedofan impending distribution,theamountisknown,andreceiptisexpected,Iftheamountisnotknown,thelegacy is treated as a contingent asset. ``` ``` continued... ``` ``` Page 19 ``` ``` Dove Cottage Day Hospice ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ``` ## **`2. ACCOUNTING POLICIES - continued`** ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have been allocated to activities on a basis consistent with the use of resources. ``` ``` Expenditureisrecognisedonanaccrualbasisasaliabilityisincurred.Expenditureincludesany VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. ``` ``` Costsofgeneratingfundscomprisethecostsassociatedwithattractingvoluntaryincomeand the costs of trading for fundraising purposes including the charity's shop. ``` ``` Charitableexpenditurecomprisesthosecostsincurredbythecharityinthedeliveryofits activities andservicesforitsbeneficiaries.Itincludesbothcoststhatcanbeallocateddirectlytosuch activities and those costs of an indirect nature necessary to support them. ``` ## **`Tangible fixed assets`** ``` Tangiblefixedassetsareinitiallymeasuredatcostandsubsequentlymeasureatcostorvaluation, net of depreciation and any impairment losses. ``` ``` Depreciationisrecognisedsoastowriteoffthecostorvaluationofassetslesstheirresidual values over their useful lived on the following basis: ``` |`Property improvements`|`Straight line over ten years`| |---|---| |`Tea room`|`Straight line over three years`| |`Fixtures & equipment`|`Straight line over three years`| |`Barn conversion`|`Straight line over three years`| |`Motor vehicles`|`Straight line over three years`| ``` Thegainorlossarisingonthedisposalofanassetisdeterminedasthedifferencebetweenthe sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ``` ## **`Related party exemption`** ``` Thecharitablecompanyhastakenadvantageofexemption,underthetermsofFinancial Reporting Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland',not to disclose related party transactions with wholly owned subsidiaries within the group. ``` ## **`Taxation`** ``` The charity is exempt from corporation tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity. Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted purposes. ``` ``` continued... ``` ``` Page 20 ``` ``` Dove Cottage Day Hospice ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ``` ## **`2. ACCOUNTING POLICIES - continued`** ## **`Fund accounting`** ``` DesignatedfundsareunrestrictedfundswhichareavailableforuseatthediscretionoftheTrustees in furtherance of their charitable objectives which have been reserved for a specific purpose. ``` ``` Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial statements. ``` ## **`Debtors`** ``` Shorttermdebtorsaremeasuredattransactionprice,lessanyimpairment.Loansreceivable are measuredinitiallyatfairvalue,netoftransactioncosts,andaremeasuredsubsequentlyat amortised cost using the effective interest method, less any impairment. ``` ## **`Creditors`** ``` Shorttermcreditorsaremeasuredatthetransactionprice.Otherfinancialliabilitiesare measured initiallyatfairvalue,netoftransactioncosts,andaremeasuredsubsequentlyatamortisedcost using the effective interest method. ``` ## **`Pension costs and other post-retirement benefits`** ``` Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayable to thecharitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesin the period to which they relate. ``` ## **`Financial instruments`** ``` Thecharityonlyhasfinancialassetsandfinancialliabilitiesofakindthatqualifyasbasic financial instruments.Basicfinancialinstrumentsareinitiallyrecognsiedattransactionvalueand subsequently measuresattheirsettlementvaluewiththeexceptionofbankloans,whichare subsequently measured at amortised cost using the effective interest method. ``` ``` Basicfinancialassets,whichincludedebtorsandcashandbankbalances,areinitiallymeasured at transactionpriceincludingtransactioncostsandaresubsequentlycarriedatamortisedcostusing the effectiveinterestmethodunlessthearrangementconstitutesafinancingtransaction,where the transactionismeasuredatthepresentvalueofthefuturereceiptsdiscountedatamarketrate of interest. Financial assets classified as receivable within one year are not amortised. ``` ``` Basicfinancialliabilities,includingcreditorsandbankloansareinitiallyrecognisedat transaction priceunlessthearrangementconstitutesafinancingtransaction,wherethedebtinstrument is measuredatthepresentvalueofthefuturepaymentsdiscountedatamarketrateof interest. Financial liabilities classified as payable within one year are not amortised. ``` ``` Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. ``` ``` Tradecreditorsareobligationstopayforgoodsorservicesthathavebeenacquiredinthe ordinary courseofoperationsfromsuppliers.Amountspayableareclassifiedascurrentliabilitiesifpayment is duewithinoneyearorless.Ifnot,theyarepresentedanon-currentliabilities.Tradecreditors are recognisedinitiallyattransactionpriceandsubsequentlymeasuredatamortisedcostusing the effective interest method. ``` ``` Financialliabilitiesarederecognisedwhenthecharity'scontractualobligationsexpireor are discharged or cancelled. ``` ``` continued... ``` ``` Page 21 ``` ``` Dove Cottage Day Hospice ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ``` ## **`2. ACCOUNTING POLICIES - continued`** ## **`Financial instruments`** ## **`Employee benefits`** ``` Thecostofanyunusedholidayentitlementisrecognisedintheperiodinwhichthe employee's services are received. ``` ``` Terminationbenefitsarerecognisedimmediatelyasanexpensewhenthecharityis demonstrably committed to terminate the employment of an employee or to provide termination benefits. ``` ## **`Going concern`** ``` Atthetimeofapprovingthefinancialstatements,theTrusteeshaveareasonableexpectation that thecharityhasadequateresourcestocontinueinoperationalexistencefortheforeseeable future. ThustheTrusteescontinuetoadoptthegoingconcernbasesofaccountinginpreparingthe financial statements. ``` ## **`3. DONATIONS AND LEGACIES`** |**`DONATIONS AND LEGACIES`**||| |---|---|---| |`Donations (Gift Aided)`
`Donations (non-Gift Aided)`
`Legacies`
`Grants`
`Trusts`
`Tax receipts from HMRC`|`2024`
`£`
`12,399`
`5,941`
`288,228`
`71,672`
`49,400`
`12,121`
`439,761`|`2023`
`£`
`33,785`
`10,180`
`110,802`
`68,437`
`54,250`
`9,813`| |||`287,267`| ``` Grants received, included in the above, are as follows: ``` |`Leicester & Rutland PCT`
`Annexe income`
`Screwfix`
`BNA Charity`
`Leicestershire & Rutland Community Fund`
`Melton Borough Council`
`CO-OP`
`The Morrisons Foundation`
`Belvoir Rotary`
`Ragdale Hall`|`2024`
`£`
`24,630`
`-`
`-`
`8,000`
`3,000`
`24,700`
`642`
`8,980`
`970`
`750`
`71,672`|`2023`
`£`
`24,649`
`39,800`
`3,988`
`-`
`-`
`-`
`-`
`-`
`-`
`-`| |---|---|---| |||`68,437`| ``` continued... ``` ``` Page 22 ``` ``` Dove Cottage Day Hospice ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ``` ## **`4. RAISING FUNDS`** |`Fundraising events`
`Charity shop`
`In memorium`
`Tea Room income`
`Guests transport`
**`INVESTMENT INCOME`**
`Deposit account interest`
**`CHARITABLE ACTIVITIES COSTS`**
`General`
`Charity shops`
`Rutland Hospice`
**`SUPPORT COSTS`**
`General`|`Direct`
`Costs`
`£`
`389,999`
`227,225`
`3,034`
`620,258`|`2024`
`2023`
`£`
`£`
`56,932`
`44,103`
`275,365`
`280,753`
`9,380`
`3,683`
`8,204`
`4,817`
`10,725`
`-`
`360,606`
`333,356`
`2024`
`2023`
`£`
`£`
`6,681`
`2,175`
`Support`
`costs (see`
`note 7)`
`Totals`
`£`
`£`
`12,350`
`402,349`
`-`
`227,225`
`-`
`3,034`
`12,350`
`632,608`
`Governance`
`costs`
`£`
`12,350`| |---|---|---| ## **`5. INVESTMENT INCOME`** ## **`6. CHARITABLE ACTIVITIES COSTS`** ## **`7. SUPPORT COSTS`** ## **`8. NET INCOME/(EXPENDITURE)`** ``` Net income/(expenditure) is stated after charging/(crediting): ``` ||`2024`|`2023`| |---|---|---| ||`£`|`£`| |`Auditors' remuneration`|`12,350`|`-`| |`Independent examination fees`|`-`|`5,000`| |`Depreciation - owned assets`|`3,426`|`49,755`| |`Deficit on disposal of fixed assets`|`365`|`-`| ``` continued... ``` ``` Page 23 ``` ``` Dove Cottage Day Hospice ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ``` ## **`9. TRUSTEES' REMUNERATION AND BENEFITS`** ``` NoneoftheTrustees(oranypersonsconnectedwiththem)receivedanyremunerationduring the year. ``` ## **`Trustees' expenses`** ``` During the year the following Trustees were paid for general expenses and mileage: C Henry - £94 ``` ## **`10. STAFF COSTS`** |`Wages and salaries`
`Social security costs`
`Other pension costs`
`The average monthly number of employees during the year was as follows:`
`Charitable facilities`
`Governance costs`|`2024`
`£`
`382,576`
`19,142`
`12,930`
`414,648`
`2024`
`36`
`-`
`36`|`2023`
`£`
`337,725`
`10,006`
`8,975`|`2023`
`£`
`337,725`
`10,006`
`8,975`| |---|---|---|---| |||`356,706`|| ||||`2023`
`34`
`3`
`37`| ``` No employees received emoluments in excess of £60,000. ``` ## **`Remuneration of key management personnel`** ``` Thetotalamountofemployeebenefitsreceivedbykeymanagementpersonnelis£52,437(2023 - £57,702). ``` ## **`11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |`Unrestricted`
`funds`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`243,479`
`Raising funds`
`333,356`
`Investment income`
`2,175`
**`Total`**
`579,010`
**`EXPENDITURE ON`**
**`Charitable activities`**
`General`
`297,935`|`Restricted`
`funds`
`£`
`43,788`
`-`
`-`
`43,788`
`51,691`|`Total`
`funds`
`£`
`287,267`
`333,356`
`2,175`| |---|---|---| |||`622,798`| |||`349,626`| ``` continued... ``` ``` Page 24 ``` ``` Dove Cottage Day Hospice ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ``` |**`11.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**
`Unrestricted`
`funds`
`£`
`Charity shops`
`243,668`
`Rutland Hospice`
`16,866`
**`Total`**
`558,469`
**`NET INCOME/(EXPENDITURE)`**
`20,541`
**`Transfers between funds`**
`(6,684)`
**`Net movement in funds`**
`13,857`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`510,069`
**`TOTAL FUNDS CARRIED FORWARD`**
`523,926`
**`12.`**
**`TANGIBLE FIXED ASSETS`**
`Property`
`improvements`
`£`
**`COST`**
`At 1 April 2023`
`562,209`
`Additions`
`-`
`Disposals`
`-`
`At 31 March 2024`
`562,209`
**`DEPRECIATION`**
`At 1 April 2023`
`562,209`
`Charge for year`
`-`
`Eliminated on disposal`
`-`
`At 31 March 2024`
`562,209`
**`NET BOOK VALUE`**
`At 31 March 2024`
`-`
`At 31 March 2023`
`-`|
`Restricted`
`funds`
`£`
`-`
`-`
`51,691`
`(7,903)`
`6,684`
`(1,219)`
`1,219`
`-`
`Tea room`
`£`
`16,463`
`-`
`-`
`16,463`
`16,463`
`-`
`-`
`16,463`
`-`
`-`|`Total`
`funds`
`£`
`243,668`
`16,866`
`610,160`
`12,638`
`-`
`12,638`
`511,288`
`523,926`
`Barn`
`conversion`
`£`
`97,001`
`-`
`-`
`97,001`
`97,001`
`-`
`-`
`97,001`
`-`
`-`|`Total`
`funds`
`£`
`243,668`
`16,866`| |---|---|---|---| ||||`610,160`| ||||`12,638`
`-`| ||||`12,638`
`511,288`| ||||`523,926`| ``` continued... ``` ``` Page 25 ``` ``` Dove Cottage Day Hospice ``` ``` Notes to the Financial Statements - continued ``` ## **`for the Year Ended 31 March 2024`** ## **`12. TANGIBLE FIXED ASSETS - continued`** |`Fixtures`
`& equipment`
`£`
**`COST`**
`At 1 April 2023`
`68,376`
`Additions`
`18,149`
`Disposals`
`(424)`
`At 31 March 2024`
`86,101`
**`DEPRECIATION`**
`At 1 April 2023`
`68,011`
`Charge for year`
`2,415`
`Eliminated on disposal`
`(59)`
`At 31 March 2024`
`70,367`
**`NET BOOK VALUE`**
`At 31 March 2024`
`15,734`
`At 31 March 2023`
`365`
**`13.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Legacy debtor`
`Amounts owed by group undertakings`
`Other debtors`
`Prepayments and accrued income`|`Motor`
`vehicles`
`£`
`51,773`
`18,195`
`-`
`69,968`
`51,773`
`1,011`
`-`
`52,784`
`17,184`
`-`
`2024`
`£`
`192,000`
`28,783`
`6,734`
`10,564`
`238,081`|`Totals`
`£`
`795,822`
`36,344`
`(424)`
`831,742`
`795,457`
`3,426`
`(59)`
`798,824`
`32,918`
`365`
`2023`
`£`
`-`
`-`
`20,307`
`3,817`
`24,124`| |---|---|---| ``` continued... ``` ``` Page 26 ``` ``` Dove Cottage Day Hospice ``` ## **`Notes to the Financial Statements - continued`** ## **`for the Year Ended 31 March 2024`** ## **`14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Trade creditors`
`Amounts owed to group undertakings`
`Social security and other taxes`
`Other creditors`
`Accruals and deferred income`|`2024`
`£`
`9,294`
`1,861`
`6,097`
`-`
`15,057`
`32,309`|`2023`
`£`
`39,605`
`1,589`
`4,900`
`1,937`
`7,300`| |---|---|---| |||`55,331`| ## **`15. LEASING AGREEMENTS`** ``` Minimum lease payments under non-cancellable operating leases fall due as follows: ``` |`Within one year`
`Between one and five years`|`2024`
`£`
`16,096`
`-`
`16,096`|`2023`
`£`
`18,923`
`13,546`| |---|---|---| |||`32,469`| ## **`16. MOVEMENT IN FUNDS`** |**`Unrestricted funds`**
`General fund`
`Designated fund`
**`Restricted funds`**
`BNA Charity`
`Leicestershire & Rutland Community`
`Fund`
`Melton Borough Council`
`CO-OP`
`The Morrison Foundation`
**`TOTAL FUNDS`**|`At 1.4.23`
`£`
`248,926`
`275,000`
`523,926`
`-`
`-`
`-`
`-`
`-`
`-`
`523,926`|`Net`
`movement`
`in funds`
`£`
`140,853`
`-`
`140,853`
`6,935`
`3,000`
`14,030`
`642`
`8,980`
`33,587`
`174,440`|`Transfers`
`between`
`funds`
`£`
`8,748`
`-`
`8,748`
`-`
`-`
`-`
`-`
`(8,748)`
`(8,748)`
`-`|`At`
`31.3.24`
`£`
`398,527`
`275,000`| |---|---|---|---|---| |||||`673,527`
`6,935`
`3,000`
`14,030`
`642`
`232`| |||||`24,839`| |||||`698,366`| ``` continued... ``` ``` Page 27 ``` ``` Dove Cottage Day Hospice ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ``` ## **`16. MOVEMENT IN FUNDS - continued`** ``` Net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Melton & Belvoir Rotary`
`BNA Charity`
`Leicestershire & Rutland Community`
`Fund`
`Melton Borough Council`
`CO-OP`
`The Morrison Foundation`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`765,756`
`970`
`8,000`
`3,000`
`19,700`
`642`
`8,980`
`41,292`
`807,048`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(624,903)`
`140,853`
`(970)`
`-`
`(1,065)`
`6,935`
`-`
`3,000`
`(5,670)`
`14,030`
`-`
`642`
`-`
`8,980`
`(7,705)`
`33,587`
`(632,608)`
`174,440`| |---|---|---| ## **`Comparatives for movement in funds`** |**`Unrestricted funds`**
`General fund`
`Designated fund`
**`Restricted funds`**
`Melton & Belvoir Rotary`
`General Restricted`
**`TOTAL FUNDS`**|`At 1.4.22`
`£`
`235,069`
`275,000`
`510,069`
`1,219`
`-`
`1,219`
`511,288`|`Net`
`movement`
`in funds`
`£`
`20,541`
`-`
`20,541`
`(1,221)`
`(6,682)`
`(7,903)`
`12,638`|`Transfers`
`between`
`funds`
`£`
`(6,684)`
`-`
`(6,684)`
`2`
`6,682`
`6,684`
`-`|`At`
`31.3.23`
`£`
`248,926`
`275,000`| |---|---|---|---|---| |||||`523,926`
`-`
`-`| |||||`-`| |||||`523,926`| ``` continued... ``` ``` Page 28 ``` ``` Dove Cottage Day Hospice ``` ``` Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ``` ## **`16. MOVEMENT IN FUNDS - continued`** ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Melton & Belvoir Rotary`
`Annexe`
`General Restricted`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`579,010`
`-`
`39,800`
`3,988`
`43,788`
`622,798`|`Resources`
`Movement`
`expended`
`in funds`
`£`
`£`
`(558,469)`
`20,541`
`(1,221)`
`(1,221)`
`(39,800)`
`-`
`(10,670)`
`(6,682)`
`(51,691)`
`(7,903)`
`(610,160)`
`12,638`| |---|---|---| ``` Asat31March2024therestrictedfundbalanceof£24,839representsfundsforagarden project, seating, furniture and musical memory boxes. ``` ## **`Transfers between funds`** ``` Transfersweremadefromrestrictedfundstounrestrictedfundswhichrepresentcapital expenditure acquired for general use and not for a restricted purpose. ``` ## **`17. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 31 March 2024 and 31 March 2023. ``` ``` Page 29 ``` ``` Dove Cottage Day Hospice ``` ## **`Detailed Statement of Financial Activities for the Year Ended 31 March 2024`** |**`INCOME AND ENDOWMENTS`**
**`Donations and legacies`**
`Donations (Gift Aided)`
`Donations (non-Gift Aided)`
`Legacies`
`Grants`
`Trusts`
`Tax receipts from HMRC`
**`Raising funds`**
`Fundraising events`
`Charity shop`
`In memorium`
`Tea Room income`
`Guests transport`
**`Investment income`**
`Deposit account interest`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Charitable activities`**
`Wages`
`Social security`
`Pensions`
`Insurance / Utilities / Water`
`Professional fees`
`Repairs and maintenance`
`Catering costs`
`Travel expenses`
`Cleaning and waste`
`Sundries`
`Telephone`
`Subscriptions`
`Fundraising expenditure`
`Carried forward`|`2024`
`£`
`12,399`
`5,941`
`288,228`
`71,672`
`49,400`
`12,121`
`439,761`
`56,932`
`275,365`
`9,380`
`8,204`
`10,725`
`360,606`
`6,681`
`807,048`
`382,576`
`19,142`
`12,930`
`24,577`
`4,784`
`42,058`
`5,072`
`11,025`
`16,318`
`5,425`
`4,787`
`2,300`
`9,997`
`540,991`|`2023`
`£`
`33,785`
`10,180`
`110,802`
`68,437`
`54,250`
`9,813`| |---|---|---| |||`287,267`
`44,103`
`280,753`
`3,683`
`4,817`
`-`| |||`333,356`
`2,175`| |||`622,798`
`289,529`
`10,006`
`8,975`
`19,467`
`30,645`
`43,961`
`5,940`
`18,460`
`11,131`
`11,981`
`4,620`
`2,463`
`6,941`
`464,119`| ``` This page does not form part of the statutory financial statements ``` ``` Page 30 ``` ``` Dove Cottage Day Hospice ``` ## **`Detailed Statement of Financial Activities`** ## **`for the Year Ended 31 March 2024`** |**`Charitable activities`**
`Brought forward`
`Stationery and printing`
`Outings and craft`
`Training expenses`
`Goods for resale`
`Christmas cards & wrapping`
`Therapy costs`
`Wellness and support meetings`
`Computer costs`
`Advertising`
`Grant expenditure`
`Volunteer expenses`
`Staff and trustee expenses`
`Depreciation`
`Loss on sale of tangible fixed assets`
`Rent`
`Bank charges`
**`Support costs`**
**`Governance costs`**
`Wages`
`Auditors' remuneration`
`Independent examination fees`
`Bank charges`
`Total resources expended`
**`Net income`**|`2024`
`£`
`540,991`
`9,661`
`788`
`630`
`2,933`
`3,690`
`9,844`
`1,504`
`8,935`
`510`
`7,705`
`356`
`2,116`
`3,426`
`365`
`22,284`
`4,520`
`620,258`
`-`
`12,350`
`-`
`-`
`12,350`
`632,608`
`174,440`|`2023`
`£`
`464,119`
`12,052`
`639`
`(306)`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`49,754`
`-`
`26,656`
`4,006`
`556,920`
`48,196`
`-`
`5,000`
`44`
`53,240`
`610,160`
`12,638`| |---|---|---| ``` This page does not form part of the statutory financial statements ``` ``` Page 31 ```