REGISTERED COMPANY NUMBER: 03115262 (England and Wales) REGISTERED CHARITY NUMBER: 1060570
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
HOSPICE INCOME GENERATION NETWORK LIMITED
WBD Accountants Limited Marlbridge House Enterprise Way Edenbridge Kent TN8 6HF
HOSPICE INCOME GENERATION NETWORK LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | ||
| Notes to the Financial Statements | 9 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
HOSPICE INCOME GENERATION NETWORK LIMITED
REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03115262 (England and Wales)
Registered Charity number
1060570
Registered office
Marlbridge House Enterprise Way Edenbridge Kent TN8 6HF
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HOSPICE INCOME GENERATION NETWORK LIMITED
REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2021
Trustees
The Trustees present their report and the financial statements for the year ended 31 December 2021.
1. Legal and administrative
The charity is a company limited by guarantee. It is governed by its Memorandum and Articles of Association.
2. Trustees
The following were Trustees of the company during the year:
C Davies (Chair) V McBain (Vice Chair) T Abbott A Adu E Boate A Brien J Brady K Brown K Harrison D McFadden T Nightingale M Smith J Thompson M Boyle (resigned January 2022) The Trustees form the National Executive Committee (NEC).
3. Charitable Objects, Mission and Aims
The company's principal objects and mission as set out in its memorandum and articles are: - to advance the education and training of fundraisers in independent and NHS hospices
-
to maintain and improve professional standards of hospice fundraising
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to support the work of hospices
In furtherance of this mission, to enable hospice fundraisers to:
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Receive support and enhance their role within the hospice movement thereby improving standards and efficiency of fundraising so that cost effective income is raised and publicity developed to support patient care
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Attend training courses, either initiated by the Association or by outside bodies, so as to maintain and improve professional standards of fundraising
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Liaise with outside organisations, both within and outside the Hospice movement, so that a comprehensive and well-balanced approach to efficient fundraising can be developed
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Communicate with each other by effective and planned means, so that information is exchanged in a rational way and within a framework of openness.
4. Review of performance, impact and future plans
Performance
In April 2021, we held our annual conference online for the very first time.The impact of the Covid-19 pandemic meant we were not able to hold an in-person conference. Having never held a virtual conference before we decided to keep the ticket price as low as possible to make it accessible for all hospices - we charged £149 per hospice and enabled them to send as many delegates as they wanted. Our goal of recruiting 500 delegates was far exceeded, achieving 1,060 from 123 hospices.
The pandemic continued to affect the way in which we were able to support our members. All our training and networking events through the year were held online. These have been well attended and provided the opportunity for our members to learn from each other and connect with each other in a safe space.
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HOSPICE INCOME GENERATION NETWORK LIMITED
REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2021
We launched FREE membership to every UK hospice in 2021 following the donation of £14,000 from Mark Watson in 2020. The recruitment drive was held on social media, through email and mail to non member hospices. By the end of the year we had grown to 179 hospice members.
In recent years it has become clear that Speakers at conferences are much more aware regarding Equality, Diversity and Inclusion and will actively ask questions regarding this. The board also felt the way in which we recruited speakers in the past made it difficult to plan for a fair representation of topics, as well as diversity. Therefore we have completely changed the process by completing research of third sector voices and inviting speakers to apply to our conference within a set time period. This meant we had the full list of those ready, willing and able to speak at our conference and we could make our selection based on the quality of the workshop content, a good coverage of topics, diversity and costs.
Impact
Our April 2021 virtual conference was attended by more delegates representing more hospices than ever before. We were supported by 11 charity sector exhibitors, including our Platinum Partners - Donorflex, Majestic Publishing, Ruddock's and Vintage Cash Cow.
We found an excellent online conference platform, Airmeet, which enable delegates to take part in plenary and workshop sessions, to speak to fellow delegates in the networking lounge and for exhibitors to create a booth to meet delegates. The actual attendance in regard to the plenary and workshops was excellent and the platform allowed for plenty of interaction within these sessions. The difficulty we found was engagement outside the planned sessions - delegates only used the lounge to chat to speakers immediately after their session and the exhibitors had very little in the way of visitors. For the 2022 conference we will have to find was to encourage more engagement from delegates.
Throughout 2021, we organised 22 online training sessions covering a broad range of income generation topics, such as: MailChimp, Rudolf Runs, Gifts in Wills, Lottery, Storytelling and Memorial events. These events attracted over 1,200 registrations from our members.
As Membership is now charged per hospice we will now compare yearly numbers by hospices only. After the free membership promotion we increased the number of hospices from 103 to 179. We had set ourselves a target of a 30% and were absolutely delighted to achieve 75%.
Future plans
Virtual training continues to be the main focus for the delivery of our development programme. The members will be consulted on the topics they wish to see on the programme for 2022.
The board took the decision in July 2021 to plan another virtual conference in Spring 2022 after balancing the risk of an expensive hotel contract and hospices being nervous about sending delegates to an in-person event. The timing of the decision meant we would incur a penalty for cancelling the contract with the hotel at this stage, however the hotel agreed the penalty could be utilised against a smaller booking instead. The board plan to stay at the hotel during the virtual conference and facilitate the event from the central location.
The success of the free membership offer increased the membership significantly and we hope to maintain a level of 140 hospices once the fee becomes payable on April 2022. A successful conference and a solid plan of development days should enable hospices to see the value of paying for membership.
5. Review of financial position
In total the company had income of £31,694 (against £88,466 in 2020). Expenditure totalled £37,416 (against £79,981 in 2020) resulting in a loss of £5,722.
6. Reserves policy
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HOSPICE INCOME GENERATION NETWORK LIMITED
REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2021
The company's reserves are held at a level which, in the opinion of the Trustees, is sufficient to ensure the company's future development, and to take into account possible future fluctuations of income and expenditure. The company has a policy of maintaining its free reserves at approximately six months of forward expenditure. The current level of free reserves represents approximately seven months of forward expenditure.
At 31 December 2021, unrestricted reserves amounted to £67,561 (against £73,283 in 2020) of which £67,561 (against £73,283 in 2020) were free reserves.
The level of free reserves is reviewed on an ongoing basis.
7. Fundraising practices statement
The Hospice Income Generation Network did not undertake any public fundraising activity nor employ any staff with a specific remit for public fundraising during 2021.
Our members agree to abide by our Code of Conduct and the Code of Fundraising Practice.
The company is registered with the Fundraising Regulator and the Information Commissioners Office. We have policies in place to govern our practices and activities. Reports are filed in accordance with regulations set out by Companies House and the Charity Commission.
8. Risks policy
The Trustees have examined the risks to which the association is exposed, in particular those related to the on-going operations and finances, and are satisfied that systems are in place to mitigate our major risks.
The Trustees have identified that the creation of an Ethical Policy will be beneficial for the future. A working committee will be created to bring this policy to life.
9. Auditors
The charity is not required to prepare audited accounts.
10. Structure, Governance and Management
The charity was incorporated on 18th October 1995 and amended by Resolution dated 14th February 1997. It is governed by its Memorandum and Articles of Association. It is a registered charity with the Charity Commission and a company limited by guarantee with the Trustees as company directors.
The Memorandum and Articles of Association pre-dates company law and therefore the Trustees have instructed a solicitor to enable the revision of these Articles. A number of firms were approached regarding their service offer and quotes and Wrigley's in Leeds gave the most competitive quote whilst also taking time to fully understand the organisation and its needs. This work will be completed during 2022.
Appointment of Trustees
Each region shall elect two Ordinary members to be regional representatives. These representatives shall in turn be eligible for appointment to the NEC in accordance with the Association's Articles of Association and be known as Executive members. New representatives shall be appointed by the regions at their January meetings and these appointments will be ratified at the AGM of the Association or any other meeting. Executive members shall retire from the NEC by rotation, with the longest serving third retiring each year. Retiring Executive members will be eligible for re-appointment.
The Trustees have reviewed the appointment process and length of service of Trustees and have made recommendations for changes to be made. The changes will form part of the updates to the Articles and come in to force following the 2022 AGM.
Trustee induction and training
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HOSPICE INCOME GENERATION NETWORK LIMITED
REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2021
The Chair is responsible for issuing all new Trustees with a full set of documents covering governance, finance, the NEC structure and decision making processes. Ongoing training is the responsibility of all Trustees and includes keeping up to date with the latest guidance from the Charity Commission.
Organisation
The NEC meets quarterly to examine performance, finance, strategy and risk. Trustees should attend all NEC meetings, not missing more than two in any four without good reason, as determined by the Chair. Trustees will undertake responsibility for specific duties, as mutually decided by the NEC and support the Chair and other Trustees in any areas of special interest.
Staff and volunteers
The Hospice Income Generation Network does not have any employees and is run purely by volunteers.
Statement of Trustees Responsibilities
The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable laws and regulations. Charity law requires the Trustees to prepare financial statements, in accordance with United Kingdom Generally Accepted Accounting Practice, for each financial year which give a true and fair view of the company's affairs at the end of the year and of its income and expenditure for that period. In preparing these financial statements the Trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Make judgments and estimates that are reasonable and prudent;
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Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the company will
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continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the company, and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
Company Secretary
Mrs C L Davies
Independent Examiner
WBD Accountants Limited Marlbridge House Enterprise Way Edenbridge Kent TN8 6HF
Approved by order of the board of trustees on 8 July 2022 and signed on its behalf by:
Mrs C Davies - Trustee
Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOSPICE INCOME GENERATION NETWORK LIMITED
Independent examiner's report to the trustees of Hospice Income Generation Network Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Andrew Branson WBD Accountants Limited Marlbridge House Enterprise Way Edenbridge Kent TN8 6HF
8 July 2022
Page 6
HOSPICE INCOME GENERATION NETWORK LIMITED
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 DECEMBER 2021
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 7,165 | 18,256 | |
| Charitable activities | |||
| Event Running | 24,529 | 64,782 | |
| Investment income | 2 | - | 5,428 |
| Total | 31,694 | 88,466 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Support Costs | 7,298 | 3,533 | |
| Event Running | 30,118 | 76,448 | |
| Total | 37,416 | 79,981 | |
| NET INCOME/(EXPENDITURE) | (5,722) | 8,485 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 73,283 | 64,798 | |
| TOTAL FUNDS CARRIED FORWARD | 67,561 | 73,283 |
The notes form part of these financial statements
Page 7
HOSPICE INCOME GENERATION NETWORK LIMITED
BALANCE SHEET 31 DECEMBER 2021
| 31.12.21 | 31.12.20 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 5 | 4,398 | 4,000 |
| Cash at bank | 70,549 | 69,283 | |
| 74,947 | 73,283 | ||
| CREDITORS | |||
| Amounts falling due within one year | 6 | (7,386) | - |
| NET CURRENT ASSETS | 67,561 | 73,283 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 67,561 | 73,283 | |
| NET ASSETS | 67,561 | 73,283 | |
| FUNDS | 7 | ||
| Unrestricted funds | 67,561 | 73,283 | |
| TOTAL FUNDS | 67,561 | 73,283 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 8 July 2022 and were signed on its behalf by:
C Davies - Trustee
The notes form part of these financial statements
Page 8
HOSPICE INCOME GENERATION NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Switch Initiative | - | 5,428 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
continued...
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HOSPICE INCOME GENERATION NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2021
3. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses
Trustees' expenses totalling £1,203 were paid during the year ended December 2021 (2020: £1,476).
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |||
|---|---|---|---|
| fund | |||
| £ | |||
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 18,256 | ||
| Charitable activities | |||
| Event Running | 64,782 | ||
| Investment income | 5,428 | ||
| Total | 88,466 | ||
| EXPENDITURE ON | |||
| Charitable activities | |||
| Support Costs | 3,533 | ||
| Event Running | 76,448 | ||
| Total | 79,981 | ||
| NET INCOME | 8,485 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 64,798 | ||
| TOTAL FUNDS CARRIED FORWARD | 73,283 | ||
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| Other debtors | 3,024 | 4,000 | |
| Prepayments | 1,374 | - | |
| 4,398 | 4,000 |
continued...
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HOSPICE INCOME GENERATION NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2021
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | ||
|---|---|---|---|---|
| 31.12.21 | 31.12.20 | |||
| £ | £ | |||
| Trade creditors | 1,526 | - | ||
| Other creditors | 100 | - | ||
| Accruals and deferred income | 5,760 | - | ||
| 7,386 | - | |||
| 7. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.1.21 | in funds | 31.12.21 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 73,283 | (5,722) | 67,561 | |
| TOTAL FUNDS | 73,283 | (5,722) | 67,561 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 31,694 | (37,416) | (5,722) | |
| TOTAL FUNDS | 31,694 | (37,416) | (5,722) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.1.20 | in funds | 31.12.20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 64,798 | 8,485 | 73,283 | |
| TOTAL FUNDS | 64,798 | 8,485 | 73,283 |
continued...
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HOSPICE INCOME GENERATION NETWORK LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2021
7. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 88,466 | (79,981) | 8,485 |
| TOTAL FUNDS | 88,466 | (79,981) | 8,485 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.20 | in funds | 31.12.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 64,798 | 2,763 | 67,561 |
| TOTAL FUNDS | 64,798 | 2,763 | 67,561 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 120,160 | (117,397) | 2,763 |
| TOTAL FUNDS | 120,160 | (117,397) | 2,763 |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
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HOSPICE INCOME GENERATION NETWORK LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 DECEMBER 2021
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 DECEMBER 2021 |
||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 7,165 | 18,256 |
| Investment income | ||
| Switch Initiative | - | 5,428 |
| Charitable activities | ||
| Membership Income | 1,750 | 2,000 |
| Conference Income | 22,779 | 62,782 |
| 24,529 | 64,782 | |
| Total incoming resources | 31,694 | 88,466 |
| EXPENDITURE | ||
| Charitable activities | ||
| Insurance | 705 | 807 |
| Postage and stationery | 60 | - |
| Advertising | 2,977 | - |
| Sundries | 362 | 2,522 |
| Conference Expenditure | 10,770 | 62,392 |
| Regional Meetings | 500 | 8,765 |
| Website Costs | 4,108 | 1,962 |
| Online Conference Expenditure | 8,302 | - |
| 27,784 | 76,448 | |
| Support costs | ||
| Finance | ||
| Bank charges | 269 | - |
| Governance costs | ||
| Accountancy and legal fees | 5,570 | 1,050 |
| Executive Meetings | 3,793 | 2,483 |
| 9,363 | 3,533 | |
| Total resources expended | 37,416 | 79,981 |
| Net (expenditure)/income | (5,722) | 8,485 |
This page does not form part of the statutory financial statements
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