Richard House Trust Registered Charity Number: 1059029 Registered Company Number: 3232837 REPORTS AND ACCOUNTS FOR YEAR ENDED 31 MARCH 2021 Rlchard House Trust is a registered charity110590291 and a company Ilmlted by guarantee13232837- England & Wale51. Its registered ollice is Rlchard House Chlldren's Hospice, Richard House Drive, London E16 3RG. Richard House Trust Annual Report and Flnancial Statement5 for the year ended 31 March 2021 Contents Part One- Trustee Oirectors, Annual Report Ito15 Introduction from our Chair Trustee Directors, Annual Report Structure, Governance and Management Vision, Mission and Values Our Communities Our Services Objective5 and Activities How Did We DOP Financial Review Plans for the Future Statement of Trustee5' Responsibilities io 13 14 15 Part Two- Flnanclal Statements 16to40 Independent Auditorfs Report ConsolSdated Statement of Financial Attivities Consolidated and Company Balance Sheet Con501idated Cashflow Statement Notes to the Flnancial Statements OurThanks 17 21 22 23 24to41 4244 Rlchard House Trust Annual Report and Financial Statements for the year ènded 31 March 2021 Part I Report from the Trustees Richard House Trust Flnancial siatement Introduction from our Chalr The Board of Trustees is pleased to present the Richard House Children's Hospice annual report and financial statements for 2020121. Our purpose at Richard House 15 to provide the best possible care and support to children with life limiting conditions and their families. While our focus ha5 remained unchanBed, the challenges of Covid-19 over the past year have changed every aspect of the way we work. Ensuring the safety and wellbeing of our staff, while protecting the hospice and maintaining services, has been a priority. Where possible, staff have worked from home, 5UPPOrted by new technology. Those who provlde care in the hospice or through our Hospice at Home seNice have followed stringent working practice5 to ensure rigorou5 infection tontrol. Our retail staff have managed the closing and re-opening of our shops, while volunteers have patiently paused their roles or adapted to our new needs. We thank them all and extend our partScular thanks to our CEO, Chris Baker, who has stewarded Richard House so smoothly through these turbulent times. NHS England awarded Rlchard House a substantSal government grant to provide 5UPPOrt to children and young people with complex needs in the Context of Covid-19. We are proud of the work Richard House has done to support the efforts of the NHS, including welcoming chlldren whose move to the hospice freed up space in hospitals for Covid treatment. We believe the pandemic highlighted to the NHS the true value of working in partnership with children's hospices and we look forward to continuing this effective working relationship to the benefit of all. With many of our usual fundraising activities made impossible by Covid restrictions, we have relied on the commitment and support of our funding partners more than ever. We are grateful to the trusts and organisations whose exceptional generosity ha5 helped us through challenging times and to the diverse collection of faith, community and social groups on whom we have relied to promote our work and offer assistance. As a result of this, and the efforts of all at Richard House, our income exceeded our expenditure in the year, resulting in a surplus and consequential improvement in our cash and reserves position. While thls excellent performante has taken us much of the way towarils the levels we seek, there is still work to do and we will continue to focus on growing both cash and reserves to improve our longer-term reslllence and sustainability. From a financial perspective we cannot expect a repeat of this year's government grant and without this we remain very reliant on gifts, donation5 and income from our shop5, With only about a third of expenditure being funded from statutory sources. We expect a stronger performance from the Richard House Trading Company Limited which made a105s in this financial year, with shops closed due to pandemlc restrictions. We are aware, however, that some of those or8anisation5 and individuals who supported us so generously have themselves been affected by the pandemic and we continue to highlight the key risk of raising sufficient income from fundraising to fund our expenditure commitments. It give5 me Breat pleasure to reflect on the succes5 of Richard House in responding to the challenBe5 of Covid-19. The hospice has ￿mained open to care for the children, young people and families who have been in most need of our serviees at this toughest of times. GoinB forward, we hope to see a return to the full range of activlties participated in and appreciated by all who use and contrlbute to Rlchard House. The Board of Trustees would like to express our thanks to all those who have supported Richard House during the year. Nlcol8 Ukiah Chair Rlchard House Trust Financial Statement Richard House Trust Trustee Dlrectors, Annual Report The Trustee Directors present their Trustee Directors, Annual Report and the audited financial statements of the company for the year ended 31 March 2021. Reference and admlnlstratlon detalls Charity name: Registered company number.. Registered charSty number.. Registered offlce.. Richard House Trust 3232837 1059029 Richard House Children's Hosplce Richard House Drive London E163RG Trustee Directors: David Bickerton Sara Hazzard Quentin Humberstone James Joly Sir Robin Knowles CBE QC Derek Lovelock Wendy Pritchard Gowhar Shaikh Dr Meng Tan Nicola Ukiah (Chairl John Winter Chief Executive and Company Secretary.. Chrlstopher Baker Auditors: Moore Kingston smith LLP Devonshi￿ House 60 Goswell Road London ECIM 7AD Bankers- HSBC 59-61 The Mall Stratford London E15 IX 21Page Rlchard House Trust Financial Statement Structure, Governance and Management Governlng document The company is limited by guarantee governed by its Memorandum and Articles of Assoclation dated I August 1996 as amended on 4 October 1996, 27 January 1999, 18 August 2010 and 15 November 2011. Every member undertake5 to contrlbute such amount as may be requlred, not exceeding £1, to the company's assets if the company should be wound up whilst he or she is a member or within one year after he or she ceases to be a member. The company is a150 a registered charity. Appolntment of Trustee Dlrectors The Board of Trustee Directors selects new members of the Board of Trustee Directors. Appllcations for trusteeship are sought by various methods including advertisement and with regard to the mix of experience and skills required for the good governance of the Trust. Trustee induction and tralnlng New Trustee Directors are provided with an Information pack and full in-house induction at the time of their appointment. A programme of training updates is also in place for all Trustees Directors. All trustees have been DBS checked. Related parties Rlchard House Trading Company Limited, a wholly owned subsidiary of the charity, was established to operate the trading activities. In accordance with its Memorandum and Articles of Association, Richard House Trading Company Limited Bifts, as Glft Aid, its profits to the charity. Richard House Developments Llmited, a wholly owned subsidiary of the charity, has been dormant since 31 March 2004. Compliance with ICO regulation We are registered with the Fundraising Regulator and comply with the Codes of Fundraising Practice and we are committed to comptying with the regulatorfs Fundralslng Promise together with the Information Commissioner's Office IICOI Direct Marketing Euidelines. Over the past year we have reviewed the information we hold and have implemented procedures to comply with new GDPR regulation. This year we sent out 20,000 fundraising communications and received two complaints. These complaints were resolved through discussion with the complainants. We take all complaints seriously and airn to re501ve or acknowledge receipt of all complaints immediately* certainly within five working days. Or8anlsation The Board of Trustee Dlrectors Is responsible for the governance, strategy and di￿¢t￿On of the charity. The Senior Leadership Team (with responsibilwty for care and family services, income generatlon, human resources and engaEement, finance and operations) led by the Chief Executive, is accountable for the delivery of the strategy. Day-to-day activities and operations are carried out by appropriately qualified staff and volunteer5, under the leadership and direction of the Chief Executive and other members of the Senior Leadership Team. The remuneration of key management has been set by the Trustees taking account of market rates, expertise, experience and skills required to fulfil the roles successfully. The Board of Trustee Directors has continued to meet by zoom quarterly throughout the year supported by committees attending to more specific matters Involved with clinical governance, finance and fundraising. A separate Rlchard House Trading Company Limlted Board of Dlrectors meets to oversee the affair5 of that company. Rlsk management The Board of Trustee Directors Is aware of the need for major risks to be identrfied and managed, and systems and staff structures are in place to support this. Richard House Trust is registered with the Care Quality Commission under the Care Standard5 Act 2000 and the Health and Social Care Act 2008 and as such is inspected, in accordance with the appropriate 5chedule5, by their regulatory agencies. Richard House Trust holds a risk register and the piocess of rlsk management includes regular consideration of new risks, which is undertaken by the Senior Leadership Team. The Board of Trustee Directors is updated on these risks and consider that the major rlsks to whlch the charity is exposed have been reviewed and that 5VStems or procedures have been established to manage these. Richard House Tiust Financial Statement Vlslon, Misslon and Values Our Vision Our vision is for communltles to have space where they can journey together to create positive memories of living and dying. Our Mlsslon To work In collaboration with others to provide holistic care for children and young people with Ilfe-limiting or life-threatening conditions and complex healthcare needs. To help families choose when, where an(1 how they re￿1ve care and to provide- specialist nursing and medical care short breaks and respite care end of life care family support before and after death To support individuals, families and communities of all falths and none with INingi dying and death to promote education and understandlng of Issues to do with living, dying and death. Our Values We create a happy and POSITIVE environment for all We are RESPECTFUL and welcome people from all our diverse communities and treat them with care and respect We value openness and INTEGRITY in all our dealing5 Our DEDICATED staff and volunteers put thildren, young people and families at the centre of our work We are passionate about achleving EXCELLENCE in all we do. 41Page Richard House Trust Financial Staternent Our Communities Our families From the moment a child is diagnosed with a Ilfe-llmltlng, 1Sfe-threatenin8 or complex health condition everything changes. These changes affect the whole family, which is why we feel it is vital not only to provlde care to the child but to support the whole family. Richard House provide5 a famlly-centred, needs led, and outcome based service to ensure that all psychological, physical, emotional, social and spiritual needs of our children, young people and familie5 are met. Poverty and disadvantage also have a signlficant impact on the families we work with.. The majority of our familie5 come from boroughs with the highest child poverty rates In the UK, Tower Hamlets, Newham and Hacknev. Newham, Tower Hamlets, Barking and Dagenham and Hackney have some of the highest leve15 of intome deprivation in London. Medical advance5 are enabling children with increasingly complex conditions to live longer and we feel passionately that these children need to be 5UPPOrted. Our families remain tommltted to RSchard House and show their support for us by holdlng events to ralse money even after they no longer use our services. Our staff Ensuring the safety and wellbeing of our staff, as well as protecting the h05pice and maintalning services, continued to be a priority this year. We continued to provide protective care and have strict control measures in place to enable acce55 to the h05pice. We reviewed and adapted COVID secure working practlces further to ensure rigorou5 infection control. We have a150 implemented stringent testing measures requiring all staff to take a lateral flow test prior to attending the hosplce as well as encouraging vaccination uptake. For staff working from home, we have invested in new technology to ensure the best possible experience and continued connectlon to the hospice. Alongside this we have hosted regular all staff meetings remotely and sent out monthly newsletters to ensure that staff are up to date with what is happenlng at the organisation. We have an employee asslstance programme In place and have regularly promoted this, along with additional wellbein8 resources, to ensure that staff have access to wellbeing support. Managers have also been making wellbeing a topic of one to one catch up meetings. Our development programme for palliative care nurses broadens their specialist competencies. Thi5 training means we can continue to support a range of complex cases, which has increased our catchment area, a5 this level of care is not available generallv. Recruitment and retention remains a priority focus, particularly in Care and Family Support due to the ongolng nationwide shortage of nursing staff. This year we have specifically expanded our bank of temporary staff to ensure flexibility in staffing and to prevent staff shortages. Our volunteer5 Volunteers are a crucial part of the Richard House family, with over 3CKJ volunteer5 giving their time and skllls to support our children and families. Their roles range widely, from retail assistanls to van drivers; from ￿CeptIon1stS to gardeners and from admin a5SlStants to photographers. During the past year and the COVID-19 pandemlc we have had to pause many of our volunteering roles due to retail closures and in order to Safeguard the hospice and our volunteers. However, volunteer commitment to Richard House remains high and volunteers have keenly returned to their role5 a5 soon a5 possible, such as upon re- Richard House Trust Financial Statement opening of our shops and our gardens. We look forward to welcoming all of our volunteers back as soon as possible. To us they are our HEROES Happy to help Enthusiastic Reliable Outstanding Effective Speclal Our partners Thls past twelve months have been very challenging for Richard House, with much of our planned fundraising activilies curtailed due to Covid. Without the commitment and support of our partners and 5upporter5 we would not have finished the year in such a strong position, and we are immensely Brateful to the many companies, Trusts and organisations who have helped us through, many of whom were facing challenging cirtumstances themselves. Partnership is integral to our fundraising, and whilst many of our usual activitie5 such as volunteering and challenge events have noi been possible, many of our partners have developed new virtual ways to support us, and we have developed new initiatives such as our mental health workshops to help support our partners through the challenges of the last year. West Ham Football Club have also contSnved to support us and once again held an awareness match in 5UPPOrt of Richard House. We look forward to weltomin8 a crowd back to next yearfs event. Our supporters Richard House is proud to work with the many different communltles that make up the areas of London we work within. Throughout the last year we have continued to receive support from a dlverse Broup of faith, community and social groups, and in particular we are grateful for the continued support of the Muslim community, who continued to promote our work through local mosques, and to the many Freemasonry Lodges that have offered assistance. We belleve that the coming year will continue to be challenging for fundraising, with much untertainty stlll surroullding fundraising events. Over the comlng year our supporters will continue to be essential to Securing the income we need. 61 Page Richard House Trust Financial Statement Our Services When 3 child is living with a life-limiting or life-threatening health condition, every member of their family is imparted physically, spiritually and emotionally. We provide holistic residentlal and therapeutic services for the whole family. Clinical care for chlldren and young people with complex health care need5. Step down care- smoothing the tran51tion from hospital to home. Short stays- providing respite and giving children and young people opportunities to enjoy social InteractS0n. Hospice at Home- to provide health respite, step-down or end of lrfe caie to a child at home. Oncology services- providing support for chlldren and young people with cancer and their families. Symptom management- ensuring pain and symptoms are minimlsed. End of Ilfe care- provldlng end of life care at the place of choice by families. Trips and family days- enabling children, young people and their families to enjoy activities they cotjldn't do othenNise. Group sessions- providing a supportive environment to meet with others in simSlar 51tuation5. Music therapy- an establlshed psychologlcal clinlcal inte￿entIon through music to support our children and young people with their psychological, emotional, cognitive, physical, communlcatlve and soclal needs. Counselllng- avallable to children and young people, their parents and siblin8S. Transition seNice- providlng young people and their family with information, advice and support when transitioning to adult servlces. Bereavement 5UPPOrt- from our quallfled practltloners, for the famlly during a child's illne55 and following the child's death. 71Page Richard House Trust Finanaal Statement Objectlves and Actlvltles The core purpose of Richard House is to accompany families with children and youn8 people with life- limiting, life-threatening and complex healthcare conditions during the child or young person's journey through life and through death, creating positive experien￿$ along the way. which become good memorles for the future. Thi5 core purpose statement underpins our strategy. It reflects our objectives as set out in the Memorandum and Articles of Association which are to provide outreach, respite and hospice care for children and young people with palliative care needs in the London Boroughs of Tower Hamlets, Newham, City of London, Hackney, Barking and Dagenham, Waltham Forest, Redbridge, Isllngton, Camden, Barnet, Haringey and Enfield, or extended as the Board of Trustee Director5 decides. A5 a children's hospice we provide a range of Services, both on a resldential and day care basis. This support is offered in the unique way that a Child￿n'S hospice operates, which is home from home" and in full atcordance wlth the aspiratlons of Together for Short Lives, the UK voice for children and young people, who are expected to have a reduced life expectancy, and their families. We seek to offer social and emotional support,. a Sense of community,. a share In the care of a very sick child or young person, expert respite, palliative and end of life care,. and bereavement support for the famlly from the point of referral and for as long as needed. Our objectives for 2020121 The strategic objectives, as stated In the strateglc plan agreed for the organisation, were.. l. Digital Transformation: To Introdu￿ new digital tools and Increase the use of digital technology In the workplace to optimise productivity, improve data security, share information securely with the NHS and contlnue to engage with children and their families durlng the pandemic. How Rlchard House will achieve thi5.. Design and implement an electronic medicine reconciliation and administration record IMRARI. Introduce the use of Microsoft Teams to families to enable them to attend meetlnES With the multidisciplinary team at Richard House remotely. Offer virtual play, activities, music therapy and counsellinE. Set up vlrtual meetlngs to ensure the effective running of all streams of work at Rlchard House. Optimisation of digital technolo8V to allow remote worf(ing of all but essential care and support employees at Richard House. Establlsh contingency plans and utilise risk management proce55es to respon(l an(1 adapt to the iFnpact the COVID-19 pandemic has on delivering essential services to thildren with palliative tare needs at Rlchard House and In the communitv. How Richard House will achieve this: Devlse protocols and roll out training to all staff to introduce enhanced infectlon tontrol measures and the use of level two person31 protective equipment IPPEI- Restrict access and screen all visitors, children and their families and staff prior to entering the hospice. Conduct COVID risk assessments in the workplace to identify and mitiBate the risk of transmission of the corona vlrus. Effectlve communication between all levels of management within the organisation. Richard House Trust Financial Statement Implement emergency staffing measures and provide senior cllnical support to ihe care team whilst only key workers are present at the h05pice. 3. Supportlng the wellbelng of our staff during the pandemic How Richard House will achieve this: Ensure infection control procedures and COVID secure worklng practlces are In place on sites that staff attend. Carry out Display Screen Equipment assessments for employees working from home. Carry out COVID-19 risk assessments for employees working in the hospice and in se￿iCe users, homes. Provide regular COVID-19 testing for Care staff. Ensure managers are regularly communicating with staff and dlscussSnE wellbelng needs with them. Signpost wellbeing resources to staff and provide a free Employee Assistance Programme. Survey staff engagement and wellbeing and respond to feedback. 4. Develop our Hospice at Home offer in collaboration with North East London partners in Ilne with the NHS palllative care seryice specification. How Rlchard House wlll achleve thls: Form good links with the local h05Pltals' neonatal and peadiatrlc teams and promote the deliveiy of end of life care at the child's and/or family's place of choice. Work as part of an integrated service to enable rapid transfer to the hospice orthe familv home for end of life care. Grow the delivery of health respite in the family home (Hosplce at Homel, so as to svpport and enable the parents to continue in their caring role managing thelr child or youn person with complex health needs. Provide activities, therapeutic and emotional support in the family home to contribute to the wellbelng and quality of Ilfe of those children living with a life-limiting conditlon or serious illne5S. 91Page Rlchard House Trust Flnancial Statement How Did We Do? Total income for the Broup in the reporting year was £4,743,208 compared to the prior year figure of £4,318,054. The improvement is attributable mainly to an Increase of £940,622 in Statutory income £2,192,632 12020- £1,252,010). The favourable Varian￿ is made up of COVID 19 Government grants of £689,277 to the hospice and the remainder Is attributable to increased activity levels in respite care during the course of the year. General fundraising income reduced slightly by £33,216 to £2,152,838 12020- £2,186,054). Income from Trading activities was £365,300, down by £182,458 compared to £547,758 in the previous year. The prolonged shop closures resulted in reduced Sales; although, the 2020 result was uplifted by a receipt of government retail grants of £120,000 from the Retail, Hospitality and Leisure Grant Fund for the COVID-19 pan(lemic. Investments and interest income also Increased to £14,904 12020.. £5,824). The charitable expenditure increased in the year by £214,601 to £2,803,57212020.. £2,588,971) whilst the expenditure on raising funds reduced by £134,731 resulting in net expenditure increase of £79,888 to £3,992,20112020'. £3,912,313). We achleved the following key objectives: l. Dlgltal Transformation by introducing new digital tools and increasing the use of digital technology in the workplace to optimise prodLSCtivity, improve data security, share information securely with the NHS and continue to engage with children, young people and their families during the pandemic. How we achieved thi5.. At the start of the pandemic we deslgned and implemented an electronic medicine reconciliation and administration record IMRARI. This enabled medlcine reconciliations to be done remotely thus allowing a ¢hild/young person's own drugs to be administered safely whilst they were resident at Richard House. Staff and families were trained in using Microsoft Teams as a way to attend a virtual meeting. This enabled us to conduct pre-admission assessment meetings with parents whose children were due to be admitted. We also continued virtually with mum'5 groups, varlous actSvitles, music therapy and counselling. This enabled us to remain engaged with the children, young people and their familie5 and offer much-needed support during lockdown. We set up virtual meetings to ensure the effective running of all streams of work at Richard House. Multi-professional meeting5, Staff meetings and study days were suctessfully held whllst lockdown restrictions were in place. This has worked well and will be continued as an effective way of attending meetings and communicating without the need to travel to meetings. All digital technology was upgraded to allow for remote staff working. Office365 was implemented and data moved to the Cloud. Desk and screening equipment assessments were completed to support staff In setting up a workspace at home. The organisation undertook a major IT Infrastructure upgrade including switching the internet connection to a leased line to provide a secure connection, along with a supporting backup line and a Health and Social Care Network IHSCNI connection to allow the care team to share infomiation with the NHS and other healthcare organisations. 2. Establish contingency plans and utllise risk management processes to respond and adapt to the impact the COVID-19 pandemic has on deliverlng essential seryices to children and young people with palliative care needs at Richard House and in the community. How we achieved this.. We devised protocols and rolled out tralning to all staff to introduce enhanced infection control measures and the use of level two personal protective equipment IPPEI. IOIPage Richard House T¥ust Financial Statement We restricted access and screened all staff, visitors. children, young people and their families entering the hospice. We conducted environmental COVID risk assessments in the workplace to identify and mitigate the risk of transmlsslon of the virus. Only essential staff continued to work at the hospice and we made change5 to ensure senior clinical support was available. Further to thls, stafflng levels were reviewed at the beginning of each day and on occasions when staffing was not sufficient, the senior nurse on site would step in and work in care. Supporting the wellbeing of our staff during the pandemic How we achieved this.. A COVID-19 Infection Control protocol was developed and shared with staff. Sufficient PPE was made available throughout the hospice. Staff underwent testing to ensure the right size FFP3 face masks are used to give them full protection when working with a suspected COVID case. All staff also re￿iVed training in the correct use of PPE. Visits were restrlcted to only essential visiting and vigorous screening was implemented to ensure a5 far a5 possible to protect those in the hospi￿. COVID-19 risk assessment5 for employees working in the hospice and in families, homes through out￿¥Ch seNices, were carried out. An agreed plan was devlsed for each employee that was in the high-risk group. We rolled out rapid antigen COVID-19 testing ILFDI for Care staff. All staff were trained in how to perform testing and were given kits to do an LFD test prlor to coming to work before each shlft. To ensure tontingency and safe stafflng levels in case of potential COVID related absen￿$, the nurse manager5 formed part of a rota daily to support the clinical team. We continued with virtual team days and reflectlon sesslons were arran8ed wlth an external clinical supervisor. A5 well as slgnposting staff to the Employee Asslstance Programme, we sent wellbeing resources to all staff on a weekly basi5. We have worked to align the resources to current events such as wellbeing during Christmas and Ramadan, managing anxietles around lockdown easin& and promoting Mental Health Awareness week. We ran a pandemic related staff survey in summer 2020. This was a short survey with questions specifically asking for staff feedback on their wellbeing, working conditions anil leadership of the tharlty during the COVID-19 pandemic. We then repeated the questions as part of the wider annual staff survey which ran in Jan/Feb 2021. The responses to questions around mental health and well-being on both surveys were predominantly positive. We also ran small group workshops followinE the annual survey to explore any issues raised in more detail and are creatlng actlon plans to address a￿a$ of need. 4. Develop our Hospice at Home offering in collaboration with our North East London clinical tommisslonlng groups and in Ilne with the NHS palliative care service specification. How we achieved this: We continued to work with the local hospita15' neonatal and peadiatric teams to promote the delivery of end of life care at the child's and/or famil￿5 place of choice. We offered support at home with a senior nurse on call 2417. We offered the use of the Rainbow Suite for post bereavement care. Special mobile equipment was made available and enabled the senior nurses, who formed part of a 2417 on call rota, to provide care in ihe family home if this wa5 requested. We Saw a huge increase in the demand for health respite in the family home during the pandemic and we delivered 3,929 hours of respite at home, an increase from 1,541 hours in the previou5 year. We athieved this by deploylng some of our residential staff into the IIIPage Richard House Trust Financial Statemènt communlty whilst demand for respite al the hospice reduced due to the pandemic. We also recruited additional staff to the hospice at home team. We provided virtual activltles and music therapy in the family home and coun5elling sessions were offered to those familie5 who needed the 5UPPOrt. 121Page Richard House Trust Financial Statement Financial Review Prlnclpal rlsks and uncertalntles The key risks we face include.. raisin8 sufficient donations and legacles Income to fund our expenditure commitments- limited cash reserves,. recruiting and retalning thildren's nurses required to deliver the support to children, VOLtnB people, and their families- maintaining high standards of care including the regulatory risks in complying wlth the requirements of CQC and uncertainty over future levels of Statutory Income. Risks and mitlgatlon thereof are reviewed monthly at senlor leadership meetings and at Trustee Dlrettors, meetings. We undertake regular performance appraisa15 to keep the quality of our work high. Income The financial statements show an increase in income to £4,743,20812020.. £4,318,054). Fundraising Intome (donation5 and legacies income and Income from fundraising and events) reiluced to £2,170,37212020: £2,512,462) with the Richard House Ball generating £326,408 in 2020. Statutory income increased to £2,192,63212020.. £1,252,010) as a result of government grants of £689,277 from NHS England INHSEI. NHSE awarded funding to allow the hospite make available bed capacity and community support from April 2020 to March 2021 to provide support to children with complex needs in the context of COVID -19 situation. Expenditure The in-year expendSture increased by £79,888 to £3,992,201 12020.. £3,912,313). The increase in net expendlture is mainly in the charitable expenditure which, increased in the year by £214,601 to £2,803,572 12020- £2,588,971) due to increased activity levels in our care seNices durlng the year; thus, contributing in part to the increased statutory income. Expenditure on raising funds reduced by £197,634 reflecting the reduction in fvndrai5ing activities and events from COVID-19 restriclions. The trading costs Increased by £62,921 resultlng in the net decrease of £134,713 to £1,188,62912020: £1,323,3421- Net operatlng result The overall result for the year was a net income of £751,00712020: net income of £405,741). At 31 March 2021, Richard House Trading Company Limited made a 1055 for the flnanclal year of £132,84112020: £112,538 profit). The shops were c105ed for most of the financial year due to pandemic restrictions. Investment pollcy Surplus funds are kept on deposit to earn interest, so that they are readily available to meet our costs when required. This pollcy is reviewed periodically by the Board of Trustee Directors. Cash flow The cash inflow from operating activities was £1,033,07412019- inflow £745,397) resulting In net tash Inflow after Investin8 activities of £998,25512020: inflow of £596,567). Reserves policy Unrestricted funds of the charity at the year-end amounted to £5,935,062 12020.. £5,025,855) of which £1,348,74212020.' £337,721) were free funds. The Board of Trustee Dirertors aspires to retain free funds equivalent to a mlnimum of six months, operating costs of £1.7 mllllon, based upon the costs for the year ended 31 March 2021. The Board is working to restore free funds above the target level as soon as practicable over the next three to five year5. This will ensure that there is very little rlsk of unplanned closure that might otherwise have a very serious impact on our vulnerable beneficiaries. The Finance and Fundraising Committee continues to review our reserves pollcy to reflect any changes that may be necessarv. 131Page Richard House Trust Financlal Statement Outlook and key 2021122 Objectives Our plans for 2021122 have had to be fundamentally changed due to the COVID pandemic. Our key priorities for 2021122 have become: To minimi5e, as far as possible the risks of COVID infection withln the hospice and to ensure the safety of our children, their families and our team. To maintain our residential and Hospice at Home services as long as circumstances allow. To work with the NHS to support their efforts Including making available beds to free space in Hospitals. To maintain and expand ourfundraising activities to ensure that as far as possible income lost from cancelled events and other activities is made up from other Sources. To support national and local efforts to secure emergency Government fundin8. To ensure our retail shops are COVID secure and are kept open as much as national regulations allow. The Board Intends to undertake a full strategic review in 2022 when hopefully the outlook for the future will be clearer. The Board of Trustee Directors would1Ske to thank all staff and volunteers for the immense efforts they have made over the last year. 141Page Richard House Trust Financial Statement Statement of Trustees. Responsibilities The trustees (who are also director5 of Richard House Trust for the purposes of company lawl are responsible for preparing the Trustee Directors, Annual Report (including the Strateglc Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law require5 the trustee5 to prepare financial statements for each financial year which give a true and fair view of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure of the charitable group for that period. In preparing these flnanclal statements, the trustees are requlred to: selert suitable accountlng pollcles and then apply them consistentlv; observe the methods and prlnciples In the Charities Statement of Recommended Practice; make judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards Including FRS102 have been followed, subject to any material departures disclosed and explained in the flnancl81 statements,. and prepare the financial statement5 on the going concern basis unless it Is Inapproprlate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that disc105e with reasonable accuracy at any tlme the financial posltlon of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the Broup and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditor is unaware. and the trustee5 have taken all Steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Auditors The auditors, Moore Kingston Smith LLP, will be proposed for re-appointment in accordance with the Companies Act 2Th)6. Declaration The Trustee Directors declare that they have approved the Trustee Direttors, Annual Report above. Signed n behalf of harlty's Trustee Dlrectors on 16 December 2021 Wendy Pritcha stee Director 15 | Page Richard House Trust Financial Statement ## Part 2 Financial Statements **16 |** P a g e Richard House Trust Financial Statement ## **Independent Auditor’s Report to the Members and Trustees of Richard House Trust** ## **Opinion** We have audited the financial statements of Richard House Trust (the ’company’) for the year ended 31 March 2021 which comprise the Group Summary Income and Expenditure Account, the Group and Parent Charitable Company Balance Sheets, the Group Cash Flow Statement and notes to the financial statements, 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 FRS 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: - give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31 March 2021 and of the group’s 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 and the Charities Act 2011. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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. ## **Other information** The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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. **17 |** P a g e ## Richard House Trust Financial Statement In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the [strategic report and the] trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - [the strategic report and the] trustees’ annual report have been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in [the strategic report or] the trustees’ annual report. We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 require us to report to you if, in our opinion: - the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or - the parent charitable company’s 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; or - • the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Trustees’ Annual Report and from preparing a strategic report. ## **Responsibilities of trustees** As explained more fully in the trustees’ responsibilities statement set out on page 15, 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 and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor’s responsibilities for the audit of the financial statements** **18 |** P a g e ## Richard House Trust Financial Statement We have been appointed as auditor under the Companies Act 2006 and section 151[1] of the Charities Act 2011 and report in accordance with those Acts. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in 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** The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. Our approach was as follows: - We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are [the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council] - We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance. - We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. - We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. - Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit **19 |** P a g e ## Richard House Trust Financial Statement evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the group and parent charitable company’s internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. - Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group and parent charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or parent charitable company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit report. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. ## **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 and, in respect of the consolidated financial statements, to the charity’s trustees, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters which we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company, the charitable company’s members, as a body, and the charity’s trustees, as a body, for our audit work, for this report, or for the opinion we have formed. 20/12/2021 Neil Finlayson (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor Devonshire House 60 Goswell Road London EC1M 7AD **20 |** P a g e Richard House Trust Financial Statement ## **Consolidated Statement of Financial Activities (Incorporating an Income and Expenditure Account) for year ended 31 March 2021** |**Notes**
**Income**
**Incoming resources' from fundraising**|**Unrestricted**
**Restricted**
**Funds**
**Funds**
**£**
**£**|**Unrestricted**
**Restricted**
**Funds**
**Funds**
**£**
**£**|**Total**
**2021**
**£**
2,152,838
17,534
365,300
14,904
2,192,632
**4,743,208**|**Total**
**2020**
**£**| |---|---|---|---|---| |Donations and legacies
2
Other trading activities:
Fundraising and events
2
Income from trading company
3
Income from investment and interest
**Income from Charitable activities**
Statutory and grant funding for hospice care
4
**Total income**|1,922,446
17,534
365,300
14,904
1,123,172|230,392
-
-
-
1,069,460||2,186,054
326,408
547,758
5,824
1,252,010| ||**3,443,356**|**1,299,852**||**4,318,054**| |**Expenditure**
**Expenditure on Raising funds**|||690,488
498,141
1,188,629
2,803,572
3,992,201
**751,007**|| |Fundraising and publicity
5
Expenses of trading company
3
**Expenditure on Charitable activities**
5
**Total expenditure**
5
**Net income/(expenditure)**|690,488
498,141|-
-||888,122
435,220| ||1,188,629
1,478,341|-
1,325,231||1,323,342
2,588,971| ||2,666,970|1,325,231||3,912,313| |||||| ||**776,386**|**( 25,379)**||**405,741**| ||||5,085,655
5,836,662|| |Fund balances brought forward
at 1 April 2020|5,030,217|55,438||4,679,914| |Fund balances brought forward|5,806,603|30,059||5,085,655| |at 1 April 2021|Note 19|Note 20||| |The net income attributable to the parent company was £883,848 (2020: net
exemption under Section 408 of the Companies Act 2006 not to publish its o||||| **21 |** P a g e Rlchard House Trust Flnancial Stètement Richard House Trust Group and Charlty Balance Sheet at 31 March 2021 Group Componv Notes 2921 2021 2020 F￿￿ Asset5 Intan8ible assets TpnBiblE assets Investmenis 267 4.386.575 667 4,$04.704 267 A,370,914 667 4,d71J09 io 4.386.842 4,371185 4,472.980 CyrrentAssetS li 333,354 1.757.384 2,090,538 445,$68 758,919 L2fM.497 415.522 397A07 745.666 1,143,073 Cash atbankand In hafid 2.107,463 Credhtors.. kniountslalllnidue within one year 17 635,3261 61?,426 513,52 534,780 Netcurrentasse15 587 71 1.593,936 CrEdltorS.. kniountsfallngdue wlthln morethèn one yoir 14 pro￿51&n5 1 &3921 5 065,655 5,965,IZI 5,QBI,273 Represenied by.. Charitylunds 19. 22 19, 21 S.935,(￿2 1128.4591 s.￿￿,6￿3 5,025A35 4.38? 5,030,217 S,935￿62 S,025A35 5,93S.062 SM2$￿35 Reslrfth fund5 20,21 55.438 30,059 SS,438 S,Q85.fj55 5.965.121 5.091.273 Approved and aut It5 behalf by.. d for issue by the Board of Trustee Directors on 16 December 2021 and signed on Wendy Prit Compan hard umbe Trustee Director 3232837 221 Page Richard House Trust Financial Statement ## **Richard House Trust Consolidated Cashflow Statement for year ended 31 March 2021** |**Notes**
**Net cash (outflow) /inflow from operating activities**
(a)
Investing activities
Purchase of intangible fixed assets
Purchase of tangible fixed assets
Investment income and interest
**Net cash used in investing activities**
**Net (decrease) /increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**
**Notes to the cash flow statement**
**(a) Net cash (inflow) /outflow from operating activities**
Net (outgoing) incoming / resources for the year
Depreciation
Amortisation
Investment income and interest
Decrease in stocks
Increase in debtors
Increase in creditors/provisions
Net cash (outflow)/inflow from operating activities|**2021**
**£**
1,033,074
-
( 49,723)
14,904
( 34,819)
998,255
758,929
1,757,184
751,007
167,852
400
( 14,904)
-
112,214
16,505
1,033,074|**2020**
**£**
745,397
-
( 154,654)
5,824| |---|---|---| |||( 148,830)
596,567
162,362| |||758,929| |||405,741
168,262
857
( 5,824)
( 27,984)
204,345| |||745,397| **23 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021** ## **1. Accounting Policies** Richard House Trust is a charity incorporated in England and Wales. ## **Basis of accounting** These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (FRS 102) and the requirements of the Companies Act 2006. The Charitable Company and its subsidiaries constitute a public benefit group as defined by FRS 102 and therefore the Charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP), the Companies Act 2006 and the Charities Act 2011. These accounts have been prepared on the going concern basis, under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **Consolidation** The group financial statements consolidate the financial statements of the company and its two wholly owned subsidiary undertakings, Richard House Developments Limited and Richard House Trading Company Limited, for the year ended 31 March 2021. In accordance with Section 408 of the Companies Act 2006, no separate statement of financial activities is presented for the charity. The net outgoing resources attributable to Richard House Trust were £883,848 (2020: net income £293,203). ## **Income** This represents income from grants, donations, fundraising events, merchandising sales, statutory funding, and interest. There are two types of income: unrestricted and restricted. Unrestricted funds are funds that can be spent at the discretion of the Trustee Directors on the charity's objects. Designated funds are unrestricted funds which have been set aside by Trustees Directors for specific purposes. Restricted funds are funds provided by external sources for specific projects and may only be applied towards those specific projects. All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. For donations to be recognised, the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then the income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail on their contribution is given in the Trustees' Report. **24 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **1. Accounting Policies (continued)** For legacies, entitlement arises when the Charity is aware that probate has been granted. Receipt is normally when the executors have established that there are sufficient assets in the estate. Where legacies have been notified to the Charity, or the Charity is aware of the granting of probate, and the criteria for income recognition has not been met, then the legacy is treated as a contingent asset and disclosed if material. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supply of goods and services to raise funds and is recognised when entitlement has occurred. ## **Expenditure** This represents the expenditure on raising funds and charitable expenditure. Expenditure on raising funds includes fund raising and publicity costs and the expenses of the trading company. Charitable expenditure is the cost of activities in furtherance of the charity's objects. Expenditure is classified by the category of activity for which it is used rather than by type of expense. Allocation is on an actual basis, or where this is not possible, on an estimated usage basis. - Expenditure on raising funds are those costs incurred in attracting donations and legacies income, and those incurred in trading activities that raise funds. - Charitable activities include expenditure associated with the provision of hospice and related care and include both the direct costs and support costs relating to these activities. - Support costs include central costs and have been allocated to cost categories on the basis of staff time spent in each area. - Governance costs (included as part of support costs) include those incurred in the governance and strategic management of the organisation including costs associated with meeting constitutional and statutory requirements. Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. ## **Tangible Fixed Assets** Expenditure on tangible fixed assets over £1,000 is capitalised and depreciation is provided at the following annual rates to write off the cost of each asset over its estimated useful life: Fixtures and fittings 20% straight line Office equipment 15% straight line Motor vehicles 25% straight line Computer equipment 33% straight line Freehold buildings 2% straight line ## **Intangible Fixed Assets** Expenditure on intangible fixed assets over £1,000 is capitalised and depreciation is provided at the following annual rates to write off the cost of each asset over its estimated useful life: Web site 33% straight line Computer software 33% straight line **25 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **1. Accounting Policies (continued)** ## **Stock** Stock is valued at the lower of cost or net realisable value after making due allowance for any obsolete or slow-moving stock. ## **Donated goods for resale or distribution** The company receives donated goods for resale in the charity shops of the subsidiary company. As per the advice of The Accounting Council, donated goods are not recognised as income on receipt as the value cannot be measured reliably and the benefit of recognising the item does not outweigh the costs. ## **Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. ## **Provision for accrued holiday pay** The company has made a provision for unused holiday pay accrued at year end. As the total amount accrued was immaterial, the adjustment was made within the reporting period. ## **Provision for bad debt** The company has made a provision for bad debts based on those debtors which are unpaid at the time the accounts were approved and due to the time may not be recovered in full. ## **Taxation** The company is a registered charity and did not receive taxable income in the year. ## **Remuneration** The company has a Remuneration policy which includes remuneration for key management personnel. The company undertakes benchmarking regularly when setting remuneration and determining salary changes. ## **Operating leases** Rentals charged under operating leases, including any lease incentives received, are charged on a straightline basis over the term of the leases. ## **Pension costs** Pension contributions are charged to the statement of financial activities on an accrual basis, ## **Financial instruments** The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost **26 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **1. Accounting Policies (continued)** using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## **Going concern** The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements and have considered the potential impact of the Covid-19 pandemic. In particular the trustees have taken account of pressures on statutory income, donation income, fundraising events, and trading income, as well as expenditure. The trustees have considered various scenarios and the mitigating action available to them should income fall significantly. Based on this and the significant unrestricted reserves available the trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. **27 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **2. Donations and Legacies** |Community
Trusts and Foundations
Individuals
High Value
Corporate
Legacies
Donated Professional Services
Gift Aid|**2021**
**£**
117,521
999,082
158,523
134,231
479,315
219,235
-
44,931|**2020**
**£**
214,575
391,990
267,580
146,088
519,300
497,950
104,650
43,921| |---|---|---| ||**2,152,838**|**2,186,054**| |**Fundraising and events**
Fundraising and events|**2021**
**£**
17,534|**2020**
**£**
326,408| |Donations derived from the Richard House|Rainbow Ball was £nil (2020: £326,408)|| **28 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** |**3 . Investments in Subsidiaries**|**2021**
**2020**
**£**
**£**|**2021**
**2020**
**£**
**£**| |---|---|---| |_Richards House Trading Company Limited_
Income
Intercompany income eliminated on consolidation
Consolidated income
Cost of sales
Administration expenses
Intercompany expenses eliminated on consolidation
Net consolidated income before donation and taxation
Net intercompany income
Operating (loss)/profit before donation to parent company
Donation to parent company
(Loss)/Profit on ordinary activities before taxation
Taxation
Profit/(Loss) on ordinary activities before taxation
Dividends
Retained profit/(loss) for the financial year
Retained profit brought forward|365,300
27,725
393,025
( 16,038)
( 482,103)
-
**( 498,141)**
( 105,116)
(27,725)
( 132,841)
-
( 132,841)
-
( 132,841)
-
( 132,841)
4,384|547,758
48,736| |||596,494
( 18,714)
( 416,506)
-| |||**( 435,220)**
161,274
(48,736)| |||112,538
-| |||112,538
-| |||112,538
-| |||112,538
4,851| |Charitable distribution from parent undertaking|( 113,005)|| |Retained profit carried forward|(128,457)|4,384| |||| At the end of the year, the company had aggregate assets of £157,221 (2020: £208,702), liabilities of £285,678 (2020: £204,318) and net shareholder’s deficit of £128,457 (2020: £4,384). ## **Richard House Developments Limited** The company has not traded during the year or the preceding financial year. During these years the company received no income and incurred no expenditure and therefore made neither profit nor loss. At the end of the year, the company had aggregate assets of £2 (2020: £2) and net shareholder’s funds of £2 (2020: £2). **29 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **4. Statutory and Grant Funding for Hospice care** |**4. Statutory and Grant Funding for Hospice care**||| |---|---|---| ||**2021**|**2020**| ||**£**|**£**| |Income from core NHS contracts|500,116|511,605| |Other NHS and local authority income|623,056|371,295| |Department of Health grants|380,183|369,110| |COVID Grants|689,277|-| ||2,192,632|1,252,010| |**4. Statutory and Grant Funding for Hospice care**|**4. Statutory and Grant Funding for Hospice care**|**4. Statutory and Grant Funding for Hospice care**||| |---|---|---|---|---| |Income from core NHS contracts
Other NHS and local authority income
Department of Health grants
COVID Grants|||**2021**
**2020**
**£**
**£**
500,116
511,605
623,056
371,295
380,183
369,110
689,277
-
2,192,632
1,252,010|| |||||| |**5. Expenditure**
**Analysis of total expenditure**
Fundraising and publicity
Trading company expenses
Hospice care
Governance
Total expenditure
**Analysis of support costs**
Fundraising and publicity
Hospice care
Governance
Total support costs|**Staff**
**costs**
**£**
423,977
262,307
1,685,081
19,549|**Other direct**
**Support**
**costs**
**costs**
**£**
**£**
119,086
147,425
235,834
-
713,504
368,554
16,385
499
1,084,809
516,478
**Staff**
**Other direct**
**costs**
**costs**
**£**
**£**
128,289
19,136
298,907
69,647
-
499
427,196
89,282||**Total**
**2021**
**£**
690,488
498,141
2,767,139
36,433| ||2,390,914|||3,992,201| |||||**Total**
**2021**
**£**
147,425
368,554
499| |||||516,478| |||||| Expenditure on Charitable activities includes the expenditure on Hospice care and Governance. **30 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** |**5. Expenditure (continued)**
**Analysis of total expenditure**|**Staff**
**costs**
**£**|**Other direct**
**Support**
**costs**
**costs**
**£**
**£**|**Total**
**2020**
**£**| |---|---|---|---| |Fundraising and publicity
Trading company expenses
Hospice care
Governance|505,343
198,978
1,534,865
19,791|222,820
159,959
236,242
-
644,197
377,311
12,251
556|888,122
435,220
2,556,373
32,598| |Total expenditure|2,258,977|1,115,510
537,826|3,912,313| |**Analysis of support costs**||**Staff**
**Other direct**
**costs**
**costs**
**£**
**£**|**Total**
**2020**
**£**| |Fundraising and publicity
Hospice care
Governance||131,330
28,629
305,996
71,315
-
556
437,326
100,500|159,959
377,311
556| |Total support costs|||537,826| Expenditure on Charitable activities includes the expenditure on Hospice care and Governance. |**Analysis of governance costs**
Staff costs
Audit fees
Support costs|**2021**
**2020**
**£**
**£**
19,549
19,791
16,385
12,251
499
556| |---|---| ||36,433
32,598| ||| Support costs are included in the above analysis of total resources expended and have been allocated across activities on the basis of staff time spent in each area. These costs include providing IT, payroll, personnel, finance, property and other central services to the charity’s staff and volunteers. Governance costs have been funded entirely by unrestricted funds. **31 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **6. Staff Costs** |Wages and salaries
Social security costs
Other pension costs
Average number of employees full time equivalent:
Charitable work
Fundraising
Trading
Administration|**2021**
**£**
2,460,112
231,686
126,310
2,818,108
**2021**
**Number**
36
10
11
11
68|**2020**
**£**
2,358,210
228,365
109,728| |---|---|---| |||2,696,303| |||**2020**
**Number**
34
10
11
12| |||67| The number of employees receiving remuneration in excess of £60,000 increased within the following bands: |||**2021**||**2020**|| |---|---|---|---|---|---| |||**Number**||**Number**|| |£60,000|- £70,000||1||2| |£70,001|- £80,000||2||1| |£80,001|- £90,000||1||1| Total pension contributions for the highest paid employee excluding the Chief Executive who is not on the pension scheme during the year were £5,320 (2020: £4,900). The remuneration of key management personnel, who included the Chief Executive, Director of Finance and Operations, Director of Family and Care Services,Head of Fundraising and Head of HR and Volunteeer Engagement, was as follows: |Aggregate emoluments
Company pension contributions|**2021**
**2020**
**£**
**£**
382,365
371,516
17,197
16,705
399,562
388,221| |---|---| The number of key management personnel for whom retirement benefits are accruing under defined contribution schemes amounted to NIL (2020: NIL). **32 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **7. Net (expenditure)/income** |||**2021**|**2020**| |---|---|---|---| |This is stated after charging:||**£**|**£**| |Auditor's remuneration:|||| |Company|- current year audit fee excluding VAT|12,400|11,620| |Subsidiary companies|- current year audit fee|2,300|2,110| ||- current year non-audit|550|550| |Depreciation||167,852|168,262| |Amortisation||400|857| ## **8. Intangible Fixed Assets** |**Group and Company**
**Cost**|**Software**
**Website**
**£**
**£**|**Total**
**£**| |---|---|---| |At 1 April 2020|7,768
15,942
-
-
7,768
15,942|23,710
-| |Additions||| |At 31 March 2021||23,710| |**Accumulated Amortisation**||| |At 1 April 2020|7,768
15,275
-
400
7,768
15,675|23,043
400| |Charge for the year||| |At 31 March 2021||23,443| |**Net Book Value**||| |At 31 March 2021|-
267|267| |||| |At 31 March 2020|-
667|667| **33 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **9 . Tangible Fixed Assets** |**Group**
**Cost**
At 1 April 2020
Additions
Disposals
At 31 March 2021
Accumulated Depreciation
At 1 April 2020
Charge for the year
Released on disposal
At 31 March 2021
**Net Book Value**
At 31 March 2021
At 31 March 2020
**Company**
**Cost**
At 1 April 2020
Additions
Disposals
At 31 March 2021
Accumulated Depreciation
At 1 April 2020
Charge for the year
Released on disposal
At 31 March 2021
**Net Book Value**
At 31 March 2021
At 31 March 2020|**Freehold**
**Buildings**
**Fixtures &**
**Computer**
**Motor**
**Land**
**Fittings**
**Equipment**
**Vehicle**
**Total**
**£**
**£**
**£**
**£**
**£**
**£**
270,704
5,704,460
468,614
115,686
39,489
6,598,953
-
-
43,907
5,816
-
49,723
-
-
-
-
-
-
270,704
5,704,460
512,521
121,502
39,489
6,648,676
-
1,578,997
411,857
70,882
32,513
2,094,249
-
114,089
31,001
17,182
5,580
167,852
-
-
-
-
-
-
-
1,693,086
442,858
88,064
38,093
2,262,101
270,704
4,011,374
69,663
33,438
1,396
4,386,575
270,704
4,125,463
56,757
44,804
6,976
4,504,704
**Freehold**
**Buildings**
**Fixtures &**
**Computer**
**Motor**
**Land**
**Fittings**
**Equipment**
**Vehicle**
**Total**
**£**
**£**
**£**
**£**
**£**
**£**
270,704
5,704,460
307,809
94,707
11,588
6,389,268
-
-
39,037
5,816
-
44,853
270,704
5,704,460
346,846
100,523
11,588
6,434,121
-
1,578,997
257,823
68,551
11,588
1,916,959
-
114,089
21,970
10,189
-
146,248
-
-
1,693,086
279,793
78,740
11,588
2,063,207
270,704
4,011,374
67,053
21,783
-
4,370,914
270,704
4,125,463
49,986
26,156
-
4,472,309| |---|---| A substantial contribution towards the cost of the buildings was received from the National Lottery Charities Board and as such the buildings may not be sold without their consent until 2084. **34 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **10. Fixed Asset Investments - Group Undertakings** The company’s investments at the balance sheet date in the share capital of companies include the following: ||**Nature of**|**Class of**|**Percentage**|**2021**|**2020**| |---|---|---|---|---|---| |**Shares in group undertakings**|**business**|**share**|**holding**|**£**|**£**| ||Property||||| |Richard House Developments Limited|development|Ordinary|100%|2|2| |Richard House Trading Company Limited|Retail|Ordinary|100%|2|2| ## **11. Debtors** |**11. Debtors**|||||| |---|---|---|---|---|---| ||**Group**||**Company**||| ||**2021**|**2020**|**2021**||**2020**| ||**£**|**£**|**£**||**£**| |Trade debtors|98,036|56,748|98,036||56,441| |Bad debt provision|-|-|-||-| |Amount owed from subsidiary undertaking|-|-|158,486||114,885| |Other debtors|14,248|19,974|14,246||19,318| |Prepayments|117,681|109,185|79,118||72,762| |Accrued income|103,389|259,661|76,636||134,001| ||333,354|445,568|426,522||397,407| |**12. Creditors: Amounts falling due within one year**|||||| |**12. Creditors: Amounts falling due within one year**|||||| |---|---|---|---|---|---| ||**Group**||**Company**||| ||**2021**|**2020**|**2021**||**2020**| ||**£**|**£**|**£**||**£**| |Trade creditors|72,815|110,206|66,988||107,591| |Taxation and social security|74,151|67,784|74,151||67,784| |Amount owed to subsidiary undertaking|-|-|||| |Other creditors|275,556|268,171|275,556||268,171| |Finance lease liability|1,395|5,580|-||-| |Accruals|211,409|152,681|96,832||78,230| |Deferred income|-|13,004|-||13,004| ||635,326|617,426|513,527||534,780| ||||||| **35 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **13. Defered income** |**13. Defered income**|||| |---|---|---|---| ||**Group**||**Company**| |At beginning of the year
Released during the year
Additions during the year|**2021**
**£**
13,004
( 13,004)
-|**2020**
**£**
15,927
( 15,927)
13,004
13,004|**2021**
**2020**
**£**
**£**
13,004
15,927
( 13,004)
( 15,927)
-
13,004
-
13,004| ||-||| ||||| Deferred income comprises income relating to April; all amounts relate to the next accounting period. ## **14. Creditors: Amounts falling due within more than one year** |**14. Creditors: Amounts falling due within more than one year**|||| |---|---|---|---| ||**Group**||**Company**| |Finance lease liability|**2021**
**£**
-|**2020**
**£**
1,395|**2021**
**2020**
**£**
**£**
-
-| |**15. Provisions**
Deferred tax liabilities|-
1,395
**2021**
**2020**
**£**
**£**
5,392
5,392
5,392
5,392
**Group**||-
-
**2021**
**2020**
**£**
**£**
-
-
-
-
**Company**| ## **16. Share Capital** The company does not have share capital. However, every member of the company undertakes to contribute to the assets of the company such amount as may be required, not exceeding £1. There were 11 (2020 - 13) members at the balance sheet date. **36 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **17. Pension Commitments** The company is an approved organisation, for the purpose of the National Health Service (Superannuation) Regulations 1980, making contributions to the National Health Service Pension Scheme. The Scheme is regarded as a statutory scheme by the Inland Revenue and is covered by section 22 of chapter 3 of the 1970 Finance Act. The contributions of the employer are 20.68% (the employer pays 14.38% under the transitional arrangement and the NHS paid 6.30% until March 2022) and the contributions of the employee range from 7.1% to 13.5%. As a statutory scheme, benefits are fully guaranteed by the Government. Contributions from both members and employers are paid to the Exchequer which meets the cost of the scheme benefits. The Exchequer also pays for the cost of increasing benefits each year by the rate of inflation. This extra cost is not met by contributions from scheme members and employees. Contributions of £28,604 (2020: £20,031) were charged in the financial statements. Contributions are also made to another independent money purchase pension scheme of which a certain number of the company's staff are members. It is funded by assets held outside Richard House Trust. Contributions of £104,724 (2020: £95,934) were charged in the financial statements. The company has an autoenrolment process in place for the money purchase pension scheme in compliance with the changes to pension regulations. At 31 March 2021 contributions amounting to £2,958 (2020: £4,185) were payable to National Health Service Pension Scheme and £15,114 (2020: £12,315) were payable to the independent money purchase pension scheme and both are included in creditors. ## **18. Contingent Liabilities** Richard House Trust acts as a guarantor on a lease held by Richard House Trading Company Limited and as such covenants to pay rents in the event of Richard House Trading Company Limited failing to comply with the terms of the lease. The annual rent is £33,600 for the remainder of the lease (October 2021) formerly £28,000 for the term of 15 years commencing 20 October 2006. **37 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **19. Analysis of Unrestricted Funds** |||| |---|---|---| |Designated funds
Fixed asset fund
Replacement and maintenance fund
Free funds
Unrestricted funds of the charity
Trading subsidiary funds
Designated funds
Fixed asset fund
Replacement and maintenance fund
Free funds
Unrestricted funds of the charity
Trading subsidiary funds|**Balance at**
**Transfer**
**1 April**
**Incoming**
**Resources**
**between**
**2020**
**Resources**
**Expended**
**Funds**
**£**
**£**
**£**
**£**
4,472,976
-
-
( 101,794)
215,138
-
-
-
4,688,114
-
-
( 101,794)|**Balance at**
**31 March**
**2021**
**£**
4,371,182
215,138| |||4,586,320| ||337,721
3,078,056
(2,168,829)
101,794
1,348,742|| ||5,025,835
3,078,056
( 2,168,829)
-
5,935,062
4,382
365,300
(498,141)
-
(128,459)
5,030,217
3,443,356
(2,666,970)
-
5,806,603
**Balance at**
**Transfer**
**Balance at**
**1 April**
**Incoming**
**Resources**
**between**
**31 March**
**2019**
**Resources**
**Expended**
**Funds**
**2020**
**£**
**£**
**£**
**£**
**£**
4,485,583
-
-
( 12,607)
4,472,976
215,138
-
-
-
215,138
4,700,721
-
-
( 12,607)
4,688,114|| |||**Balance at**
**31 March**
**2020**
**£**
4,472,976
215,138| |||4,688,114| ||(71,367)
2,900,272
(2,616,796)
125,612
337,721|| ||4,629,354
2,900,272
( 2,616,796)
113,005
4,849
547,758
(435,220)
(113,005)
4,634,203
3,448,030
( 3,052,016)
-|5,025,835
4,382| |||5,030,217| |||| The fixed asset fund represents funds that the trustees have agreed to set aside as designated funds and corresponds to the net book value of tangible fixed assets not represented by restricted funds. The replacement and maintenance fund represents funds set aside as designated funds to ensure that fixtures, fittings and computer equipment are fully operational at all times. Amounts are transferred to and from the general fund to maintain the designated funds at the appropriate levels. These funds typically represent between 4-5% of the fixed asset value. The trading subsidiary funds represents the retained profit held by Richard House Trading Company Limited It is anticipated that these funds will not be used in the next three years as the care area of the hospice has recently been refurbished. The replacement and maintenance fund is expected to be spent within five years **38 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** |**20. Analysis of Restricted Funds**|**Balance at**
**Transfer**|**Balance at**| |---|---|---| |Department of Health Section 64 Grant
COVID -19 Grants
Respite Care Fund
Transition Fund
Care Equipment
Sixth Bedroom
Other funds|**1 April**
**Incoming**
**Resources**
**between**
**2020**
**Resources**
**Expended**
**Funds**
**£**
**£**
**£**
**£**
-
380,183
( 380,183)
-
689,276
( 689,276)
-
30,999
121,287
( 152,286)
-
3,860
2,500
( 6,360)
-
-
17,559
-
-
-
12,500
-
-
20,579
76,546
(97,125)
-
55,438
1,299,851
(1,325,230)
-|**31 March**
**2021**
**£**
-
-| |||-| |||-| |||17,559| |||12,500| |||-| |||30,059| ||**Balance at**
**Transfer**
**1 April**
**Incoming**
**Resources**
**between**|**Balance at**
**31 March**| ||**2019**
**Resources**
**Expended**
**Funds**|**2020**| ||**£**
**£**
**£**
**£**|**£**| |Department of Health Section 64 Grant
Respite Care Fund
Transition Fund
Equipment
Sensory Garden
Other funds|-
369,110
( 369,110)
-
43,000
312,587
( 324,588)
500
35,068
( 31,708)
-
11,266
( 11,266)
-
104,650
( 104,650)
2,211
37,343
(18,975)
-
45,711
870,024
( 860,297)
-|-
30,999
3,860
-
-
20,579| |||55,438| The Department of Health Section 64 Grant consists of funds awarded to maintain existing levels of in house care and to open additional beds during periods of expressed demand. The Department of Health Grants consists of funds awarded from the £30 million funding for children’s palliative care in 2010/11 for a pilot rapid response home care/end of life service for children, young people and their families. The expenditure was deferred while the hospice refurbishment was undertaken and resumed when residential care services returned to the Beckton Site. * The Respite Care Fund consists of funds raised to provide respite and other care for children, particularly focussed on staffing of nurses * The Transition Fund consists of funds raised to support our transitional care service for young adults. * Sensory Garden Fund consists of funds raised for transforming our award winning garden. The work was mostly donated professional services from Greenfingers charity. * Care database consists of funds raised moving clinical data & operations to a new more secure database to eliminate unnecessary paperwork, and enable efficient and smart working. * Other Funds consists of funds raised for transport and Music Therapy, events for children, management and administration *The NHSE awarded funding to allow the hospice to make available bed capacity and community support from April 2020 to July 2020 to provide support to children with complex needs in the context of the COVID-19 situation and to provide bed capacity and community support from November 2020 to March 2021 for the same purpose. **39 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **21. Analysis of Net Assets by Fund** |Designated funds|**Tangible**
**Fixed**
**Assets**
**£**
4,371,182|**Net Current**
**Assets/**
**Liabilities**
**£**
215,138|**Long term**
**Liabilities**
**Total**
**and provisions**
**2021**
**£**
**£**
-
4,586,320| |---|---|---|---| |Free Funds|-|1,348,742|-
1,348,742| |Trading subsidiary funds
Restricted funds
Designated funds|4,371,182
15,662
-|1,563,880
( 138,725)
30,059
1,455,214
**Net Current**
**Assets/**
**Liabilities**
**£**
215,138|-
5,935,062
( 5,396)
( 128,459)
-
30,059
(5,396)
5,836,662
**Long term**
**Restated**
**Liabilities**
**Total**
**and provisions**
**2020**
**£**
**£**
-
4,688,114| ||4,386,844||| ||**Tangible**
**Fixed**
**Assets**
**£**
4,472,976||| |Free Funds|-|337,721|-
337,721| |Trading subsidiary funds
Restricted funds|4,472,976
32,396
-|552,859
( 21,223)
55,438
587,074|-
5,025,835
( 6,791)
4,382
-
55,438
(6,791)
5,085,655| ||4,505,372||| **40 |** P a g e Richard House Trust Financial Statement ## **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **22. Financial Commitments** At 31 March 2021, the group has commitments under non-cancellable leases as follows: |Within one year
Within two to five years
Over five years|**2021**
**2020**
**£**
**£**
79,578
95,350
1,841
35,693
-
-
81,419
131,043
**Land and Buildings**|**2021**
**2020**
**£**
**£**
7,288
10,344
17,355
24,623
-
-
24,643
34,967
**Other**| |---|---|---| At 31 March 2021, the company has commitments under non-cancellable leases as follows: |Within one year
Within two to five years
Over five years|**2021**
**2020**
**£**
**£**
-
-
-
-
-
-
-
-
**Land and Buildings**|**2021**
**2020**
**£**
**£**
7,288
10,344
17,355
24,623
-
-
24,643
34,967
**Other**| |---|---|---| ## **23. Related Party Transactions** The company has taken advantage of the exemptions available under FRS 102 paragraph 33-1A available to group companies and accordingly, details of transactions between the Trust and its subsidiaries are not separately disclosed. |Donations received from Directors / Trustees for
general core activities|**2021**
**2020**
**£**
**£**
59,168
117,100
59,168
117,100| |---|---| No trustee was reimbursed for incurred expenses during the year £nil (2020: £nil). **41 |** P a g e Richard House Trust Financial Statement **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** ## **Our Thanks** Every year we need to raise more than £4 million to maintain and expand the services we provide for life-limited children and their families. Statutory funding covers only a limited amount of our costs, so for every £4 Richard House spends, £3 must be funded by donors. We could not continue without the commitment of our dedicated supporters and thank all who have shown their support. _A special thanks to all those in the local community who supported us through collection tins and challenge events_ Al Madina Moque Barking Alexandra Lodge no.5182 Allianz Global Corporate & Specialty London Allied World Assurance Company (Europe) Armourers and Brasiers’ Gauntlet Trust Arthur J Gallagher & Co. Arthur Williams Lodge no.3052 ASDA - Dagenham ASDA - Isle of Dogs Ashburton Park Lodge no.4988 Association for Financial Markets in Europe (AFME) Atlas Lodge no.6083 Avondale Lodge no.2395 Baker McKenzie Bank of America Barclays Barclays Wealth Technology Services Barkingside Rotary Club BBC Children in Need BCMY Ltd Berkeley Foundation Blakemore Foundation Blick Rothenberg Booker Cash & Carry Brixton Ramblers Lodge no.3347 Buhler UK Ltd Cad-man(uk) ltd Canary Wharf Group Plc Canning Town Jobcentre Celsus Rose Croix Chapter no.166 Chadwell Heath Canasta Club Charles S French Charitable Trust City Bridge Trust City Gate Lodge no.9890 City Guilds Chapter no.4256 Clifford Chance LLP CLS Group Colt Technology Services Commerzbank AG Corinthian Lodge no.1382 Crédit Agricole CIB Crest of Mount Edgcumbe Lodge no.7431 Custom House Baptist Church Custom House Baptist Church David Lloyd Clubs Day Lewis Pharmacy DM Thomas Foundation for Young People East Ham Memorial Hospital Charity Football Cup Competition East London Mosque Ella's Craft Creations Elmhurst Primary School Elmhurst Primary School Europa Point Lodge no.8581 ExCel London Fisks Docklands Gainsbury & Whiting Productions Limited Gateway Cleaning Services Graham and Mary Stacy Trust Guidehouse Guildhall School Of Music Chapter no.2454 Hammers for Work & Support Henley Lodge no.1472 Highbury Quadrant Congregational Church Highstone Chapter no.6755 Holden and Partners Holt Energy Advisors UK Homelands Charitable Trust HSBC Premier Branches – City **42 |** P a g e Richard House Trust Financial Statement **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** HSBC Securities Services Independent Research Forum iPRO Sport Holdings Ltd Iron Mountain PLC Jack Petchey Foundation Jerram Falkus Construction Jet Bros Newsagents John and Amelia Winter John F Kennedy Special School Johns&Co KB Toy Bank Kings Cross Lodge no.1732 Kri Skincare Lapis Magnes Lodge no.5024 Leeds Building Society Charitable Foundation LEWIS Communications Lodge of Fortitude & Old Cumberland no.12 Lodge of Hope no.7152 Lodge Of The Men Of Sussex no.3712 London City Airport Ltd London City Island Leaseholders & Residents Association London City Island Leaseholders and Residents Association London City Island Yoga Club Loyal Duchess of Kent Lodge no.3963 Macfarlanes Mark Benevolent Fund Masonic Charitable Foundation Metlife Metropolitan Grand Stewards Lodge no.9812 Micks Discount Furniture Military Order of the Collar Foundation Miller Evans & Co Miller Insurance Services LLP Millwall RTC Morrisons Foundation Nagrecha Brothers LTD NaturalMotion Newham College Newham Council Retired Employees Association Nisa Local Oasis Fashions LTD One-Element Docklands Peter Stebbings Memorial Charity Pranic Healing Charity UK Prince Regent Hotel Principal Global Investors (Europe) Ltd Principle Cleaning Services Ltd Pure Maple Rahere Lodge no.2546 Rangoon and Ormond-Iles Lodge no.1268 RCCG Royal Connections S.Walsh & Sons Sandra Charitable Trust Saturnian Lodge no.4045 Sir Walter St John Lodge no.2513 Sisters Forum Sloane Lodge no.4333 Spacehub Design St Chad's C of E Church St. James’s Place Foundation St. Monica's Joint Scout and Guide Council Star Primary School Sydney Russell Primary School Tate and Lyle Sugars (ASR Group) Temple Porchway Lodge no.7209 TerraCycle UK Tesco Bags of Help Thames Dragons The Albert Hunt Trust The Ardwick Trust The Berkeley Group Plc The Charles Lewis Foundation The Cricketers The East End Community Fund The Economist Group The Edgar E Lawley Foundation The Edith Murphy Foundation The Edward Gostling Foundation The Evelyn May Trust The February Foundation The Green Hall Foundation **43 |** P a g e Richard House Trust Financial Statement **Richard House Trust Notes to the Financial Statements for year ended 31 March 2021 (continued)** The Guild of Freemen of the City of London The Hospital Saturday Fund Charitable Trust The JC & KC Foundation The Maitlands Fund Charitable Trust The National Lottery Community Fund The Queen's Yard Company - The Yard Theatre The Rank Foundation The Rehma Fund The Sir Jules Thorn Charitable Trust The Worshipful Company of Chartered Secretaries and Administrators The Worshipful Company of Glovers of London The Worshipful Company of Pewterers Thomas Miller & Co Ltd TK Maxx & Homesense Foundation Tower Hamlets Deanery Tower Hamlets Open Darts League Trinity Chapel UEL (Stratford Campus) Unions Lodge no.256 Unison - University of East London Branch United Strength Lodge no.228 Utmost PanEurope Valentine's Park Lodge no.4412 Valero Energy UK LTD VCMT (Vercer Capital Ltd) Victoria Lodge no.1056 Wanstead Chapter no.3524 Weinstock Fund Wells Fargo Westminsterian Lodge no.3344 White & Case William Berman’s Trust Winsor Primary School World Wide Technology XTX Markets Thank you to everyone who donated their time and expertise to create the urgent appeal. Creative Director - Simon Amster Producer - Jen Lane Creative - Short Films London Design and Animation - We Can Make Original Music and Sound Design - Beetroot Music Voice Over - Jim Carter and Imelda Staunton Social Media Consultant - Terrier Social Communications Strategy - Chetan Murthy **44 |** _A special thanks to all those in the local community who supported us through collection tins and_ P a g e _challenge events_ Richard House Trust Financial Statement **45 |** P a g e Richard House Children’s Hospice Richard House Drive London E16 3RG @richardhousech richardhouse.org.uk Richard House Trust is a registered charity (1059029) and a company limited by guarantee (3232837 - England & Wales). Its registered office is Richard House Children's Hospice, Richard House Drive, London E16 3RG