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2022-03-31-accounts

Richard House Trust

Registered Charity Number: 1059029 Registered Company Number: 3232837

REPORTS AND ACCOUNTS FOR YEAR ENDED 31 MARCH 2022

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.

Richard House Trust Annual Report and Financial Statements for the year ended 31 March 2022

Richard House Trust Annual Report and Financial Statements for the year ended 31 March 2022

Contents

Part One - Trustee Directors’ Annual Report 1 to 15
Introduction from our Chair 1
Trustee Directors’ Annual Report 2
Structure, Governance and Management 3
Vision, Mission and Values 4
Our Communities 5
Our Services 7
Objectives and Activities 8
How Did We Do? 9
Financial Review 10
Plans for the Future 11
Statement of Trustees’ Responsibilities 12
Part Two – Financial Statements 13 to 40
Independent Auditor’s Report 13
Consolidated Statement of Financial Activities 18
Consolidated and Company Balance Sheet 19
Consolidated Cashflow Statement 20
Notes to the Financial Statements 21 to 37
Our Thanks 38 to 41

Richard House Trust Annual Report and Financial Statements for the year ended 31 March 2022

Part 1

Report from the Trustees

Richard House Trust Financial Statements for the year ended 31 March 2022

Introduction from our Chair

The Board of Trustees is pleased to present the Richard House Children’s Hospice annual report and financial statements for 2021/22.

Our purpose at Richard House is to provide the best possible care and support to children and young people with life limiting conditions and their families. Whilst our focus remains unchanged, the challenges of Covid-19 continued to affect all aspects of our activities during the year.

Ensuring the safety and wellbeing of our staff, while protecting the hospice and maintaining services, remained a priority. Staff who provide care in the hospice or through our Hospice at Home service maintained stringent working practices to ensure rigorous infection control. We are proud that there was not a single case of a child in our care contracting Covid-19 through contact with Richard House staff. Where possible, staff beyond the care team played their part in keeping our children and families safe by continuing to work from home and to connect virtually with those who support Richard House. Our retail staff put in a wonderful performance despite again having to manage the closing and re-opening of our shops, while our volunteers earned our gratitude by adapting to new ways of working while continuing to show their extraordinary commitment to Richard House.

We thank them all and extend our particular thanks to our CEO, Chris Baker, who continued to steward Richard House so smoothly through yet more turbulent times.

During the year Richard House continued to work in partnership with the NHS, caring for a number of life limited children with complex care needs who stayed with us on a long term basis. These children clearly benefitted from the move to Richard House and our care staff in turn benefitted from the exposure to and experience of caring for children with more complex needs. We hope and expect to continue to care for such children, alongside those who need the short term respite and other care Richard House provides.

Financially, this has been a difficult year for Richard House. The level of Covid-19 support provided by the government in 2020/21 was not repeated this year, while at the same time many of our fundraising activities continued to be impacted by Covid-19 restrictions. These restrictions also impacted the fundraising activities of our corporate and community supporters, preventing them from helping us to the extent they would have wished. Some trusts and foundations which had given so generously when Covid19 hit were unable to do so for a second year: we would again like to thank them for giving us exceptional support when this was possible, allowing us to keep our doors open throughout the pandemic. We remain grateful to the trusts, foundations, organisations and individuals whose support continues to help us through these difficult times and to the diverse collection of faith, community and social groups on whom we rely to promote our work and provide assistance.

The consequence of expenditure exceeding income in the year 2021/22 has been an unwelcome reduction in our reserves and cash resources. These are now below the levels the Board believes prudent to maintain to ensure our resilience and sustainability. We expect 2022/23 to be another challenging year but will focus on increasing our reserves and cash resources over the next five years.

Despite the challenges of operating in such an uncertain environment, it gives me great pleasure to reflect on the quality of care Richard House continues to provide for the children, young people and families who are most in need of our support.

The Board of Trustees would like to thank all those who have supported Richard House during the year.

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Richard House Trust Financial Statements for the year ended 31 March 2022

Nicola Ukiah, Chair

Richard House Trust Trustee Directors’ 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 2022.

Reference and administration details

Charity name: Richard House Trust
Registered company number: 3232837
Registered charity number: 1059029
Registered office: Richard House Children’s Hospice
Richard House Drive
London
E16 3RG
Trustee Directors: David Bickerton
Sara Hazzard
Quentin Humberstone – Resigned 25/02/2022
James Joly
Sir Robin Knowles CBE QC – Resigned 25/02/2022
Derek Lovelock
Wendy Pritchard
Gowhar Shaikh
Dr Meng Tan
Nicola Ukiah (Chair)
John Winter
Chief Executive and Company
Secretary: Christopher Baker
Auditors: Moore Kingston Smith LLP
6thFloor
9 Appold Street
London
EC2A 2AP
Bankers: HSBC
59-61 The Mall
Stratford
London
E15 1X

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Richard House Trust Financial Statements for the year ended 31 March 2022

Structure, Governance and Management

Governing document

The company is limited by guarantee governed by its Memorandum and Articles of Association dated 1 August 1996 as amended on 4 October 1996, 27 January 1999, 18 August 2010 and 15 November 2011. Every member undertakes to contribute such amount as may be required, 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 also a registered charity.

Appointment of Trustee Directors

The Board of Trustee Directors selects new members of the Board of Trustee Directors. Applications 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 training

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

Richard 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 gifts, as Gift Aid, its profits to the charity. Richard House Developments Limited, 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 complying with the regulator’s Fundraising Promise together with the Information Commissioner’s Office (ICO) Direct Marketing guidelines. 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 one complaint. This complaint was resolved through discussion with the complainant. We take all complaints seriously and aim to resolve or acknowledge receipt of all complaints immediately, certainly within five working days.

Organisation

The Board of Trustee Directors is responsible for the governance, strategy and direction of the charity. The Senior Leadership Team (with responsibility for care and family services, income generation, human resources and engagement, 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 volunteers, 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 throughout the year supported by committees attending to more specific matters involved with clinical governance, finance and fundraising. A separate Richard House Trading Company Limited Board of Directors meets to oversee the affairs of that company.

Risk management

The Board of Trustee Directors is aware of the need for major risks to be identified 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 Standards Act 2000 and the Health and Social Care Act 2008 and as such is inspected, in accordance with the appropriate schedules, by their regulatory agencies. Richard House Trust holds a risk register and the process of risk management includes regular consideration of new

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Richard House Trust Financial Statements for the year ended 31 March 2022

risks, which is undertaken by the Senior Leadership Team. The Board of Trustee Directors is updated on

these risks and consider that the major risks to which the charity is exposed have been reviewed and that systems or procedures have been established to manage these.

Vision, Mission and Values

Our Vision

Our vision is for communities to have space where they can journey together to create positive memories of living and dying.

Our Mission

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 dealings

Our DEDICATED staff and volunteers put children, young people and families at the centre of our work We are passionate about achieving EXCELLENCE in all we do.

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Richard House Trust Financial Statements for the year ended 31 March 2022

Our Communities

Our families

From the moment a child is diagnosed with a life-limiting, life-threatening or complex health condition everything changes. These changes affect the whole family, which is why we feel it is vital not only to provide care to the child but to support the whole family.

Richard House provides a family-centred, needs led, and outcome based service to ensure that all psychological, physical, emotional, social and spiritual needs of our children, young people and families are met.

Poverty and disadvantage also have a significant impact on the families we work with:

Medical advances are enabling children with increasingly complex conditions to live longer and we feel passionately that these children need to be supported.

Our families remain committed to Richard House and show their support for us by holding events to raise money even after they no longer use our services.

Our staff

Ensuring the safety and wellbeing of our staff, as well as protecting the hospice and maintaining services, remained a priority this year. We regularly reviewed and adapted our COVID secure working practices to provide protective care and maintained strict control measures including limiting access to the hospice and requiring lateral flow tests to be taken before entry. We moved from mainly home working to limited hybrid working for our non-care staff as circumstances and Government Guidance allowed. We held regular virtual ‘Town Hall” meetings for our staff to ensure that they were kept up to date with what was happening at the organisation. We have an employee assistance programme in place providing a range of support services and have regularly promoted this, along with additional wellbeing resources, to ensure that staff have access to such support when needed.

Our development programme for palliative care nurses broadens their specialist competencies. This training means we can continue to support a range of complex cases, which has increased our catchment area, as this level of care is not available generally.

Recruitment and retention remains a priority focus in Care and Family Services due to the ongoing nationwide shortage of nursing staff. We continued to expand our bank of temporary staff to increase flexibility in staffing and to help prevent staff shortages.

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Richard House Trust Financial Statements for the year ended 31 March 2022

Our volunteers

Volunteers are a crucial part of the Richard House family, with approximately 150 volunteers giving their time and skills to support our children and families. Their roles range widely, from retail assistants to van drivers; from receptionists to gardeners. While we have had to pause some of our volunteering activities in order to safeguard the hospice and our volunteers, volunteer commitment to Richard House remains high and volunteers have keenly returned to their roles. We look forward to welcoming all of our volunteers back as circumstances permit.

To us they are our HEROES

H appy to help E nthusiastic R eliable O utstanding E ffective S pecial

Our partners

The past year has been very challenging for fundraising. Emergency Covid grants were no longer available and our partners continued to struggle with the economic conditions, remaining Covid restrictions and staff working from home. We also had to contend with fundraising events being cancelled for much of the year. In this environment, we are extremely grateful to our partners for their continued support whilst facing challenges themselves, including trusts, companies, faith groups and local community groups. These partnerships with the local communities of East London are at the heart of our fundraising.

We are once again very grateful for the support of West Ham Football Club.

Our supporters

Over the past year we have received support from all parts of the community, and our thanks go out to everyone who has helped either financially or in other ways. We would particularly like to thank the Muslim community of East London, who have supported us through collections, donations and volunteer support during this challenging time.

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Richard House Trust Financial Statements for the year ended 31 March 2022

Our Services

When a child is living with a life-limiting or life-threatening health condition, every member of their family is impacted physically, spiritually and emotionally. We provide holistic residential and therapeutic services for the whole family.

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Richard House Trust Financial Statements for the year ended 31 March 2022

Objectives and Activities

The core purpose of Richard House is to accompany families with children and young people with lifelimiting, life-threatening and complex healthcare conditions during the child or young person's journey through life and through death, creating positive experiences along the way, which become good memories for the future.

This 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, Islington, Camden, Barnet, Haringey and Enfield, or extended as the Board of Trustee Directors decides.

As a children's hospice we provide a range of services on a residential, at the child’s home, or day care basis. This support is offered in the unique way that a children's hospice operates, which is "home from home", and in full accordance with the aspirations 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 family from the point of referral and for as long as needed.

Our objectives for 2021/22

The priorities for the year, based on the strategic plan agreed for the organisation, as amended for the Covid pandemic, were:

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Richard House Trust Financial Statements for the year ended 31 March 2022

How Did We Do?

Total income for the group in the reporting year was £3,853,576 compared to the prior year figure of £4,743,208. The reduced income is attributable to a decrease in general fundraising income to £1,443,347 (2021: £2,170,372). Statutory income also decreased by £349,673 to £1,842,959 (2021: £2,192,632) and investments and interest income were £1,805 (2021: £14,904). Income from Trading activities was £565,465, an increase of £200,165 compared to £365,300 in the previous year.

The charitable expenditure increased in the year by £164,539 to £2,968,111 (2021: £2,803,572) and the expenditure on raising funds also increased by £152, 496 resulting in total expenditure increase of £317,035 to £4,309,236 (2021: £3,992,201).

We achieved the following key priorities:

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Richard House Trust Financial Statements for the year ended 31 March 2022

Financial Review

Principal risks and uncertainties

The key risks we face include: raising sufficient donations and legacies income to fund our expenditure commitments; limited cash reserves; recruiting and retaining children's nurses required to deliver the support to children, young people, and their families; maintaining high standards of care including the regulatory risks in complying with the requirements of CQC and uncertainty over future levels of statutory income.

Risks and mitigation thereof are reviewed monthly at senior leadership meetings and at Trustee Directors' meetings. We undertake regular performance appraisals to keep the quality of our work high.

Income

The financial statements show that income reduced to £3,853,576 (2021: £4,743,208). Fundraising income (donations and legacies income and income from fundraising and events) decreased to £1,443,347 (2021: £2,170,372). The reduction is partly attributable to the fact that the charity did not hold a Richard House Ball event in the year; the last event generated £326,408 in 2020. Statutory income reduced to £1,842,959 (2021: £2,192, 632). The 2021 figure included government grants of £689,277 from NHS England (NHSE) compared to only £107,798 received in the year to March 2022. NHSE awarded funding to allow the hospice make available bed capacity and community support to provide support to children with complex needs in the context of COVID -19 situation.

Expenditure

The in-year expenditure increased by £317,035 to £4,309,236 (2021: £3,992,201). The increase is split between the charitable expenditure which, increased in the year by £164,539 to £2,968,111 (2021: £2,803,572) due to increased activity levels in care services during the year. Expenditure on raising funds made up of fundraising and publicity and trading costs also increased by £152,496 due to more fundraising activities carried out in the year after the restrictions from the pandemic resulting in the net cost of £1,341,125 (2021: £1,188,629).

Net operating result

The overall result for the year was a net deficit of £455,660 (2021: net income of £751,007). At 31 March 2022, Richard House Trading Company Limited made a profit for the financial year of £68,574 (2021: £132,841 loss).

Investment policy

Surplus funds are kept on deposit to earn interest, so that they are readily available to meet our costs when required. This policy is reviewed periodically by the Board of Trustee Directors.

Cash flow

The cash outflow from operating activities was £398,606 (2021: inflow £1,033,074) resulting in net cash outflow after investing activities of £403,437 (2021: inflow of £998,255).

Reserves policy

Unrestricted funds of the charity at the year-end amounted to £5,283,833 (2021: £5,935,062) of which £841,190 (2021: £1,348,742) were free funds.

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Richard House Trust Financial Statements for the year ended 31 March 2022

The Board of Trustee Directors aspires to retain free funds equivalent to a minimum of six months' operating costs of £1.8 million, based upon the costs for the year ended 31 March 2022. The Board is working to restore free funds above the target level as soon as practicable over the next five years. This will ensure that there is very little risk 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 policy to reflect any changes that may be necessary.

Plans for the future

Our key priorities for 2022/2023 are as follows:

The Board of Trustee Directors would like to thank all staff and volunteers for the immense efforts they have made over the last year.

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Richard House Trust Financial Statements for the year ended 31 March 2022

Statement of Trustees' Responsibilities

The trustees (who are also directors of Richard House Trust for the purposes of company law) are responsible for preparing the Trustee Directors' Annual Report (including the Strategic Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the 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 financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position 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 group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Auditors

The auditors, Moore Kingston Smith LLP, will be proposed for re-appointment in accordance with the Companies Act 2006.

Declaration

The Trustee Directors declare that they have approved the Trustee Directors' Annual Report above.

Signed on behalf of the charity's Trustee Directors on 21 December 2022

Derek Lovelock, Trustee Director

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Richard House Trust Financial Statements for the year ended 31 March 2022 131 Page

Richard House Trust Financial Statements for the year ended 31 March 2022

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 ’parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2022 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 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:

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 group’s and parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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Richard House Trust Financial Statements for the year ended 31 March 2022

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in 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:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 12, 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

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

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Richard House Trust Financial Statements for the year ended 31 March 2022

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.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

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.

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Richard House Trust Financial Statements for the year ended 31 March 2022

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

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.

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:

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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Richard House Trust Financial Statements for the year ended 31 March 2022

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.

Neil Finlayson (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

21 December 2022

6[th] Floor 9 Appold Street London EC2A 2AP

Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006.

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Richard House Trust Financial Statements for the year ended 31 March 2022

Consolidated Statement of Financial Activities (Incorporating an Income and Expenditure Account) for year ended 31 March 2022

Notes
Income
Incoming resources' from fundraising		 Unrestricted
Restricted
Funds
Funds
£
£		 Unrestricted
Restricted
Funds
Funds
£
£		 Unrestricted
Restricted
Funds
Funds
£
£		 Total
2022
£
1,361,330
82,017
565,465
1,805
1,842,959
3,853,576		 Total
2021
£
Donations and legacies
2
Other trading activities:		 1,067,465 293,865 2,152,838
17,534
365,300
14,904
2,192,632
Fundraising and events
2		 77,517 4,500
Income from trading company
3
Income from investment and interest
Income from Charitable activities
Statutory and grant funding for hospice care
4
Total income		 565,465
1,805
1,343,575		 -
-
499,384
3,055,827 797,749 4,743,208
Expenditure
Expenditure on Raising funds		 844,234
496,891
1,341,125
2,968,111
4,309,236
( 455,660)
Fundraising and publicity
5
Expenses of trading company
3
Expenditure on Charitable activities
5
Total expenditure
5
Net income/(expenditure)		 844,234
496,891		 -
-		 690,488
498,141
1,341,125
2,297,357		 -
670,754		 1,188,629
2,803,572
3,638,482 670,754 3,992,201
( 582,655) 126,995 751,007
5,836,662
5,381,002
Fund balances brought forward
at 1 April 2021		 5,806,603 30,059 5,085,655
Fund balances brought forward 5,223,948 157,054 5,836,662
at 1 April 2022 Note 19 Note 20

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Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Group and Charity Balance Sheet at 31 March 2022

Notes
Fixed Assets
Intangible assets
8
Tangible assets
9
Investments
10
Current Assets
Debtors falling due within one year
11
Cash at bank and in hand
Creditors: Amounts falling due
within one year
12
Net current assets
Creditors: Amounts falling due
within more than one year
14
Provisions
15
Net assets
Represented by:
Unrestricted funds
Charity funds
19, 21
Trading subsidiary funds
19, 21
Restricted funds
20, 21		 2022
2021
£
£
-
267
4,233,915
4,386,575
-
-
4,233,915
4,386,842
502,972
333,354
1,353,747
1,757,184
1,856,719
2,090,538
(709,632)
(635,326)
1,147,087
1,455,212
-
-
-
( 5,392)
5,381,002
5,836,662
5,283,833
5,935,062
(59,885)
(128,459)
5,223,948
5,806,603
157,054
30,059
5,381,002
5,836,662
Group		 2022
2021
£
£
-
267
4,227,505
4,370,914
4
4
Company
4,233,915 4,227,509
4,371,185
502,972
1,353,747		 459,270
426,522
1,294,491
1,680,941
1,856,719
(709,632)		 1,753,761
2,107,463
(540,383)
(513,527)
1,147,087 1,213,378
1,593,936
-
-
5,381,002		 -
-
-
-
5,440,887
5,965,121
5,283,833
(59,885)		 5,283,833
5,935,062
-
-
5,223,948
157,054		 5,283,833
5,935,062
157,054
30,059
5,381,002 5,440,887
5,965,121

Approved and authorised for issue by the Board of Trustee Directors on 21 December 2022 and signed on its behalf by:

Derek Lovelock, Trustee Director Company number: 3232837

20 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Consolidated Cashflow Statement for year ended 31 March 2022

31 March 2022
Notes 2022 2021
£ £
Net cash (outflow) /inflow from operating activities (a) ( 398,606) 1,033,074
Investing activities
Purchase of intangible fixed assets - -
Purchase of tangible fixed assets ( 6,636) ( 49,723)
Investment income and interest 1,805 14,904
Net cash used in investing activities ( 4,831) ( 34,819)
Net (decrease) /increase in cash and cash equivalents ( 403,437) 998,255
Cash and cash equivalents at beginning of year 1,757,184 758,929
Cash and cash equivalents at end of year 1,353,747 1,757,184
Notes to the cash flow statement
(a) Net cash (inflow) /outflow from operating activities
Net (outgoing) incoming / resources for the year ( 455,660) 751,007
Depreciation 159,296 167,852
Amortisation 267 400
Investment income and interest ( 1,805) ( 14,904)
Decrease in stocks - -
Decrease in debtors ( 169,618) 112,214
Increase in creditors/provisions 68,914 16,505
Net cash (outflow)/inflow from operating activities (398,606) 1,033,074

21 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022

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 2022.

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 £524,234 (2021: net income £883,848).

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).

22 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Further detail on their contribution is given in the Trustees' Report

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (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.

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:

23 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Web site 33% straight line Computer software 33% straight line

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (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

24 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

measured at transaction price including transaction costs and are subsequently carried at amortised cost

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (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.

25 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (continued)

2. Donations and Legacies

Community
Trusts and Foundations
Individuals
High Value
Corporate
Legacies
Gift Aid		 2022
2021
£
£
184,483
117,521
283,122
999,082
200,673
158,523
181,944
134,231
331,233
479,315
129,905
219,235
49,970
44,931
1,361,330
2,152,838
Fundraising and events
Fundraising and events		 2022
2021
£
£
82,017
17,534

26 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (continued)

3 . Investments in Subsidiaries

3 . Investments in Subsidiaries
2022
2021
£
£
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		 565,465
365,300
37,528
27,725
602,993
393,025
( 20,353)
( 16,038)
( 476,538)
( 482,103)
-
-
( 496,891)
( 498,141)
106,102
( 105,116)
(37,528)
(27,725)
68,574
( 132,841)
-
-
68,574
( 132,841)
-
-
68,574
( 132,841)
-
-
68,574
( 132,841)
( 128,457)
4,384
Charitable distribution from parent undertaking
Retained profit carried forward (59,883)
(128,457)

At the end of the year, the company had aggregate assets of £123,063 (2021: £157,221), liabilities of £182,946 (2021: £285,678) and net shareholder’s deficit of £59,883 (2021: £128,457).

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 (2021: £2) and net shareholder’s funds of £2 (2021: £2).

27 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (continued)

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		 2022
2021
£
£
504,772
500,116
838,803
623,056
391,586
380,183
107,798
689,277
1,842,959
2,192,632

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
£
575,856
265,086
1,784,357
20,126		 Other direct
Support
Total
costs
costs
2022
£
£
£
116,771
151,607
844,234
231,806
-
496,892
763,333
386,316
2,934,006
13,325
653
34,104
1,125,235
538,576
4,309,236
Staff
Other direct
Total
costs
costs
2022
£
£
£
129,727
21,880
151,607
302,250
84,066
386,316
-
653
653
431,977
106,599
538,576
2,645,425

Expenditure on Charitable activities includes the expenditure on Hospice care and Governance.

28 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (continued)

5. Expenditure (continued)
Analysis of total expenditure		 Staff
costs
£		 Other direct
Support
costs
costs
£
£		 Total
2021
£
Fundraising and publicity
Trading company expenses
Hospice care
Governance		 423,977
262,307
1,685,081
19,549		 119,086
147,425
235,834
-
713,504
368,554
16,385
499		 690,488
498,141
2,767,139
36,433
Total expenditure 2,390,914 1,084,809
516,478		 3,992,201
Analysis of support costs Staff
Other direct
costs
costs
£
£		 Total
2021
£
Fundraising and publicity
Hospice care
Governance		 128,289
19,136
298,907
69,647
-
499
427,196
89,282		 147,425
368,554
499
Total support costs 516,478

Expenditure on Charitable activities includes the expenditure on Hospice care and Governance.

Analysis of governance costs
Staff costs
Audit fees
Support costs		 2022
2021
£
£
20,126
19,549
13,325
16,385
653
499
34,104
36,433

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.

29 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (continued)

6. Staff Costs

6. Staff Costs
2022
2021
£
£
Wages and salaries
Social security costs
Other pension costs
Average number of employees full time equivalent:
Charitable work
Fundraising
Trading
Administration		 2,673,282
2,460,112
252,265
231,686
151,856
126,310
3,077,403
2,818,108
2022
2021
Number
Number
41
36
12
10
13
11
12
11
78
68

The number of employees receiving remuneration in excess of £60,000 increased within the following bands:

the following bands:
2022
2021
Number
Number
£60,000 - £70,000
£70,001 - £80,000
£80,001 - £90,000		 -
1
1
2
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 (2021: £5,320).
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		 2022
2021
£
£
356,731
382,365
15,464
17,197
372,195
399,562

The number of key management personnel for whom retirement benefits are accruing under defined contribution schemes amounted to NIL (2021: NIL).

30 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (continued)

7. Net (expenditure)/income

This is stated after charging: 2022
2021
£
£		 2022
2021
£
£
Auditor's remuneration:
Company
Subsidiary companies
Depreciation
Amortisation		 - current year audit fee excluding VAT
13,500
12,400
- current year audit fee
8,000
2,300
- current year non-audit
550
550
159,296
167,852
267
400
8. Intangible Fixed Assets
Group and Company
Cost		 Software
Website
£
£		 Total
£
At 1 April 2021 7,768
15,942		 23,710
Additions -
-		 -
At 31 March 2022 7,768
15,942		 23,710
Accumulated Amortisation
At 1 April 2021 7,768
15,675		 23,443
Charge for the year -
267		 267
At 31 March 2022 7,768
15,942		 23,710
Net Book Value
At 31 March 2022 -
-		 -
At 31 March 2021 -
267		 267

31 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (continued)

9 . Tangible Fixed Assets

Group
Cost
At 1 April 2021		 Freehold
Buildings
Fixtures &
Computer
Motor
Land
Fittings
Equipment Vehicle
Total
£
£
£
£
£
£
270,704
5,704,460
512,521
121,502
39,489
6,648,676
Additions -
-
6,636
-
-
6,636
Disposals
At 31 March 2022
Accumulated Depreciation
At 1 April 2021		 -
-
-
-
( 11,588)
( 11,588)
270,704
5,704,460
519,157
121,502
27,901
6,643,724
-
1,693,086
442,858
88,064
38,093
2,262,101
Charge for the year -
114,089
25,656
18,155
1,396
159,296
Released on disposal
At 31 March 2022
Net Book Value
At 31 March 2022
At 31 March 2021
Company
Cost
At 1 April 2021		 -
-
-
-
(11,588)
(11,588)
-
1,807,175
468,514
106,219
27,901
2,409,809
270,704
3,897,285
50,643
15,283
-
4,233,915
270,704
4,011,374
69,663
33,438
1,396
4,386,575
Freehold
Buildings
Fixtures &
Computer
Motor
Land
Fittings
Equipment Vehicle
Total
£
£
£
£
£
£
270,704
5,704,460
346,846
100,523
11,588
6,434,121
Additions -
-
5,076
-
-
5,076
Disposals
At 31 March 2022
Accumulated Depreciation
At 1 April 2021		 (11,588)
(11,588)
270,704
5,704,460
351,922
100,523
-
6,427,609
-
1,693,086
279,793
78,740
11,588
2,063,207
Charge for the year -
114,089
23,234
11,162
-
148,485
Released on disposal
At 31 March 2022
Net Book Value
At 31 March 2022
At 31 March 2021		 -
(11,588)
(11,588)
-
1,807,175
303,027
89,902
-
2,200,104
270,704
3,897,285
48,895
10,621
-
4,227,505
270,704
4,011,374
67,053
21,783
-
4,370,914

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.

32 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (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 2022 2021
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
2022 2021 2022 2021
£ £ £ £
Trade debtors 239,681 98,036 239,681 98,036
Bad debt provision 8,786 - 8,786 -
Amount owed from subsidiary undertaking - - 13,697 158,486
Other debtors 10,681 14,248 10,676 14,246
Prepayments 118,291 117,681 71,271 79,118
Accrued income 125,533 103,389 115,159 76,636
502,972 333,354 459,270 426,522
12. Creditors: Amounts falling due within one year
12. Creditors: Amounts falling due within one year
Group Company
2022 2021 2022 2021
£ £ £ £
Trade creditors 87,009 72,815 70,081 66,988
Taxation and social security 63,038 74,151 63,038 74,151
Amount owed to subsidiary undertaking -
Other creditors 276,257 275,556 276,257 275,556
Finance lease liability - 1,395 - -
Accruals 283,328 211,409 131,007 96,832
Deferred income - -
709,632 635,326 540,383 513,527

33 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (continued)

13. Defered income

13. Defered income
Group Company
At beginning of the year
Released during the year
Additions during the year		 2022
£
-
-
-		 2021
£
13,004
( 13,004)
-
-		 2022
2021
£
£
-
13,004
-
( 13,004)
-
-
-
-
-

Deferred income comprises income relating to April; all amounts relate to the next accounting period.

14. Provisions
Deferred tax liabilities		 2022
2021
£
£
-
5,392
-
5,392
Group		 2022
2021
£
£
-
-
-
-
Company

15. 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 9 (2021 - 11) members at the balance sheet date.

34 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

16. 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 £34,883 (2021: £28,604) 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 £116,973 (2021: £104,724) were charged in the financial statements. The company has an auto-enrolment process in place for the money purchase pension scheme in compliance with the changes to pension regulations.

At 31 March 2022 contributions amounting to £6,145 (2021: £2,958) were payable to National Health Service Pension Scheme and £14,822 (2021: £15,114) were payable to the independent money purchase pension scheme and both are included in creditors.

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (continued)

17. 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 £36,500 for the remainder of the lease for the term of 15 years commencing 22 June 2022.

35 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

18. 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
Balance at
1 April
Incoming
Resources
between
31 March
2021
Resources
Expended
Funds
2022
£
£
£
£
£
4,371,181
-
-
( 143,676)
4,227,505
215,138
-
-
-
215,138
4,586,319
-
-
( 143,676)
4,442,643
1,348,742
2,490,363
(3,141,591)
143,676
841,190
5,935,062
2,490,363
( 3,141,591)
-
5,283,833
(128,459)
565,465
(496,891)
-
(59,885)
5,806,603
3,055,828
(3,638,482)
-
5,223,948
Balance at
Transfer
Balance at
1 April
Incoming
Resources
between
31 March
2020
Resources
Expended
Funds
2021
£
£
£
£
£
4,472,976
-
-
( 101,794)
4,371,182
215,138
-
-
-
215,138
4,688,114
-
-
( 101,794)
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

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.

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (continued)

36 | P a g e

Richard House Trust Financial Statements for the year ended 31 March 2022

19. Analysis of Restricted Funds

19. 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
Playground Regeneration
Other funds		 1 April
Incoming
Resources
between
2021
Resources
Expended
Funds
£
£
£
£
-
391,586
( 391,586)
-
107,798
( 107,798)
-
-
118,220
( 114,720)
-
-
20,029
( 10,650)
-
17,559
67,683
( 13,342)
-
12,500
-
-
-
38,747
-
-
-
53,686
(32,658)
-
30,059
797,749
(670,754)
-		 31 March
2022
£
-
-
3,500
9,379
71,900
12,500
38,747
21,028
157,054
Balance at
Transfer
1 April
Incoming
Resources
between		 Balance at
31 March
2020
Resources
Expended
Funds		 2021
£
£
£
£		 £
Department of Health Section 64 Grant
COVID -19 Grants
Respite Care Fund
Transition Fund
Care Equipment
Sixth Bedroom
Other 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)
-		 -
-
-
-
17,559
12,500
-
30,059

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 NHSE awarded funding towards the hospice providing patient care to support the NHS COVID-19 response.

Richard House Trust Notes to the Financial Statements for year ended

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Richard House Trust Financial Statements for the year ended 31 March 2022

31 March 2022 (continued)

20. Analysis of Net Assets by Fund

Designated funds Tangible
Fixed
Assets
£
4,227,505		 Net Current
Assets/
Liabilities
£
215,138		 Long term
Liabilities
Total
and provisions
2022
£
£
-
4,442,643
Free Funds - 841,190 -
841,190
Trading subsidiary funds
Restricted funds
Designated funds		 4,227,505
6,409
-
4,233,914
Tangible
Fixed
Assets
£
4,371,181		 1,056,328
( 66,294)
157,054
1,147,088
Net Current
Assets/
Liabilities
£
215,138		 -
5,283,833
-
( 59,885)
-
157,054
-
5,381,002
Long term
Restated
Liabilities
Total
and provisions
2021
£
£
-
4,586,320
Free Funds - 1,348,742 -
1,348,742
Trading subsidiary funds
Restricted funds		 4,371,181
15,662
-
4,386,843		 1,563,880
( 138,725)
30,059
1,455,214		 -
5,935,062
( 5,396)
( 128,459)
-
30,059
(5,396)
5,836,662

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Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (continued)

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Richard House Trust Financial Statements for the year ended 31 March 2022

Richard House Trust Notes to the Financial Statements for year ended 31 March 2022 (continued)

Our Thanks

Each year we must raise over £2 million in charitable income to keep Richard House open. Without the support of our many donors this would not be possible, and we are extremely grateful to every one of them.

A special thanks to all those in the local community who supported us through collection tins and challenge events

AFME Aimwell Charitable Trust Al Madina Mosque Alex Collins Alexandra Chapter no.5182 All Saints Church Allianz Global Corporate & Speciality Amazon Smile Ames UK Armourers and Brasiers' Gauntlet Trust Arnold Clark Community Fund ARQ Homes ASDA Clapham Junction ASDA Community Fund Attic Self Storage Australia Chapter no.6505 AXIS Capital Baha'i Community of Newham Ballymore Barclays HQ Barclays Wealth Technology Barking Abbey Comprehensive School Barking Road Runners Barts & The London RAG Society BBC Children in Need Beckton Fish Bar Beckton Pharmacy Bellway Homes Berkeley Foundation Booker Ltd Border Stone Lodge no.6755 Borough of Newham Lodge no.8627 Bouygues Buhler CadMan UK Canning Town Jobcentre Cassii Lodge No 9088

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Richard House Trust Financial Statements for the year ended 31 March 2022

Castrum Lodge no.7630 CBC Partnership Chadwell Heath Canasta Club Chingford Tarernacle no.91 Chobham Academy Church of God City & Shoreditch Rotary Club Cleaning & Support Services Association Clerkenwell Lodge of Installed Masters Clifford Chance CLS Group Commerzbank Compre Group Covenant Lodge no.4344 Credit Agricole Crest of Mount Edgcumbe Lodge no.7431 Custom House Baptist Church Damhurst Ltd David Lloyd Leisure Centres Dennis Hocking Lodge no.6279 Dentons DSV Solutions Earl of Zetland Chapter no.1364 Earls Lodge no.2347 East London Mosque Easy R&D Eko Pathways School Europa Point Lodge no.8581 Excel London Fables Auctions Formula E Gainsbury and Whiting Gallagher Genesis Futsal Club Give a Car UK Glitt3r & Shine Graham and Mary Stacy Trust Granite Chapter no.1328 Guidehouse Guild of Freemen of the City of London Guildhall School of Music Chapter no.2454 Hand of Good Fellowship Lodge no.5729 Havering East Rotary Club Highbury Quadrant Congregational Church Holt Energy Advisors Homelands Charitable Trust HSBC Central Corporate HSBC Premier Branches HSBC Security Services IRF Jack Petchey Foundation

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Richard House Trust Financial Statements for the year ended 31 March 2022

Johann Gutenberg Mark Lodge no.976 John and Amelia Winter Johns & Co JP Morgan King & Spalding Kings Church Barking Kingsford Community School Knight Dragon Lapis Magnes Lodge no.5024 Lemon Melon Publishing Limited Leytonstone and Woodford Rotary Life Church UK Lodestone Mortgages Lodge of Hope no.7152 Lodge of Love & Friendship no.6123 London City Airport London City Island Leaseholders and Residents Assocation London Edenside Lodge London International Horseshow Loxford Social Club Loyal Duchess of Kent Lodge MACE Group Make a Difference Ltd Manor Park Cemetery & Crematorium Mark Masons Masonic Charitable Foundation Maylands Golf Club Mercer & Hole Metlife Metropolitan Grand Stewards' Lodge no.9812 Military Order of the Collar Foundation Miller Insurance Monday Morning Walking Club Monmouth Rambling & Hillwalking Club Morrisons Mount Moriah Chapter no.143 Mount Moriah Lodge no.34 Nagrecha Brothers LTD National Emergencies Trust National Grid Newham North Islamic Association Newham Sixth Form College Orion House Oxygen Menswear Payne Hicks Beach Phoenix Lodge no.7476 Porsche East London Power House International Ministries Prince Regent Hotel Principal Global Principle Cleaning

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Richard House Trust Financial Statements for the year ended 31 March 2022

Prudence and Verity Mark Master Masons No 932 Queen Mary SU R A O B Eastern Province General R A O B Edmund Cathery Lodge no.4383 Radius Lodge Ralph and Elizabeth Aldwinckle Reiss Limited (Beckton) Riverside Bridge School Roding Rotary Club Rotary Club of London Royal Connections Church Rupert Patterson Lodge no.3646 Seriously Funny SGN Retail Shepherds Bush Lodge no.1828 Sir Jules Thorn Charitable Trust Sky St James’ Place Foundation St John's Lodge no.167 St Mark's Church - Forest Gate St Mark's College Lodge no.2157 Tate & Lyle Taz Akhtar Telford Homes Tesco Bags of Help The Burdett Trust for Nursing The Charles Lewis Foundation The Claquettes The Economist Group The February Foundation The Forrester Family Trust The Hospital Saturday Fund The National Lottery Community Fund The Vandervell Foundation The Worshipful Company of Glovers of London The Worshipful Company of Pewterers (The Seahorse Trust) Thirsk Winton Thomas Miller Thomas Miller Insurance TK Maxx & Homesense Foundation Together for Short Lives Trevor Price Trinity Chapel Trinity Steering Group Tuesday Knitting Group Tuixen Foundation U3A - Havering United Mariners Lodge no.30 Valero Waitrose - Victoria Walsingham Motor Insurance Ltd Wanstead Chapter no.3524 Wells Fargo

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Richard House Trust Financial Statements for the year ended 31 March 2022

Wendy Pritchard West Essex Round Table Lodge West Ham United Foundation Wood MacKenzie WWT

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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