THE NORFOLK HOSPICE
(A Company limited by guarantee)
TRUSTEES, ANNUAL
REPORT AND
FINANCIAL
STATEMENTS
YEAR ENDED 31 MARCH 2024
Company Registration No. 03185605
(England and Wales)
Charity Registration No. 1062800

The Norfolk Hospice
(A company limited by guarantee)
Contents
Page
Letter from Chair and CEO
Trustees, annual report (incorporating the strategic report)
Our vision, mission and values
Mal<ing a difference
Our financial review
Our structure, governance and management
16
Independent auditor's report to the members
21
Statement of financial activities
(including income and expenditure account)
25
Balance sheet
26
Statement of cash flows
27
Notes to the financial statements
28

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
LETTER FROM OUR
CHAIR, TIM HOW
AND CEO, NIKI ELLIS
We are pleased to present The Norfolk Hospice Tapping House Trustees, Annual
Report and Financial Statements for 2023-24.
The past year has been a challenging one for the Hospice sector and we are not exempt from that.
At times, the financial pressures have overshadowed the incredible dedication of our team of staff
and volunteers who strive to deliver exceptional patient care and family support. We have
remained resolute, despite the huge task ahead, to deliver the vital care that so many people rely
on in this part of the county.
The care delivery has continued to receive high praise throughout the year and our reputation
remains excellent amongst our local community and amongst key partners in health and social care.
There has been little in the way of service development throughout the year as we have focused
on negotiating new contracts for existing services. Those services already operating have benefitted
from a quality review and enhanced governance processes to ensure safety. Furthermore, the
introduction of Systmone clinical documentation has meant that we can reach new levels of data
reporting alongside enhanced outcome measurement and patient feedback.
During the year we continued to explore a leadership model that aspired to a fresh approach and
a framework that combines accountability, empowering others and collective decision making.
We continue to attract new staff and volunteers across all roles and we work hard to ensure that
the organisation is a good place to work, offering fair remuneration and a pleasant environment to
work in.
Our retail estate continues to provide significant income and we are ready to increase our estate
as we move forward into the next financial year.
We have seen fundraising begin to change shape under expert leadership, recruited to rise to the
challenge of closing the gap between our increasing expenditure against income. Our community
fundraising efforts remain firmly embedded but will be strengthened by new initiatives in major
giving, corporate giving and legacy giving.
Our 40, Anniversary in 2024 also brings opportunities for increased fundraising and an opportunity
to celebrate our achievements. To mark the anniversary, we have been looking at a brand refresh
that takes us into the next phase of our contribution to palliative and end of life care in West and
North Norfolk.
Page I

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
Environmental sustainability remains important to us and we have taken the first steps to
embedding this within our organisation and exploring environmental impact alongside financial and
social impact within everything we do.
We thank Hospice UK for continuing to raise the profile of the independent hospice sector's
financial challenge, both within the media and at Government level. As a small provider, previously
part of an integrated contract that is led by the NHS and the only independent hospice within the
NHS Norfolk and Waveney Integrated Care Board (ICB), we are a lone voice that, at times, goes
unheard without the weight of our national representative body amplifying the same story.
Thank you to all our donors for your continued generous support. Because you care, we can care.
We are also very grateful to our Board of Trustees who have stood alongside us throughout this
difficult period and to all staff, volunteers and the Leadership Team, who continue to go the extra
mile.
' Ti¢,
Page 2

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
TRUSTEES,
REPORT
INCLUDING STRATEGIC
REPORT
Page 3

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
OUR VISION, MISSION
AND VALUES
The Norfolk Hospice Tapping House intends to represent the golden thread for the
local provision of palliative care through excellent service deliveryp System wide
education and organisational sustainability funded through new commissioning
contracts and enhanced income generation.
VISION
That every person living with or affected by a life limiting condition will be offered choice and
access to excellent end of life and bereavement care.
MISSION
To lead the transformation of end of life care through innovative service delivery, education and
by empowering communities to talk openly about death, dying and grief.
VALUES
Compassion
Accessibility
Respect
Excellence
'1 shall always remember with gratitude the
patience and dedication of all your staff, who,
without exception, from cleaners to senior
nurses, were unfailingly cheerful, helpful and
caring. A care which was extended not only to
her (IPU Patient), but also to me, for which I
thank you.
Page 4

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
MAKING A DIFFERENCE
STRATEGIC OBJECTIVES
In 2021 we set out our strategic objectives across 3 domains:
Operational Capabilityi Governance & Quality
Achieve CQC 'outstanding' rating
Maintain a diverse organisational culture aligned to our vision through strong governance,
recruitment, development and retention of the highest calibre staff, data analysis and
feedback from patients, staff, volunteers and partners
Care
Ensure that patents and their families remain at the centre of all decision making
Ensure plans reflect the National Ambitions Framework for Palliative and End of Life Care
2021
Lead on development and provision of palliative and end of life care education
Become an integral partner within the Integrated Care System
Work with other organisations locally to ensure the needs of hard to reach groups are
met
Income Generation
Increase diversification of income streams
To grow legacy income steadily towards £ I million per annum through whole
organisation education, improved messaging regarding gifts in wills and increased
identification and stewardship of legacy pledgers
Continue to build reserves
Negotiate new contracts with commissioners to ensure sustainability as an independent
hospice
Every visit we had, without exception, was
thoughtful, reassuring, kind, professional and
above alljust so caring in exactly the ways that
were needed.,
Page 5

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
Operational Capabilityi Governance & Quality
What we achieved against these objectives in the year l April 2023 to 31 March 2024
annual review:
Achieve CQC 'outstanding' rating
Maintain a diverse organisational culture aligned to our vision through strong governance,
recruitment, development and retention of the highest calibre staff, data analysis and
feedback from patients, staff, volunteers and partners
The last full CQC inspection was carried out on 16th May 2017 and a 'Good' rating was given to
each of the 5 domains. The last CQC Direct Monitoring Approach was carried out virtually in July
2022 and CQC were fully satisfied with the information given to them during interview and had no
concerns regarding the organisation.
Our service user feedback consistently evidences the exceptional level of care patients and families
experience once known to the Hospice and we receive enormous numbers of compliments
regarding every element of service from early intervention rehabilitative care at the Tulip Centre
through to bereavement support. Thi5 feedback is unsolicited and remains vitally important to us
as a means to demonstrate how important our services are to people.
During this year we commenced an improvement project on our electronic system for recording
incidents and risl<s. The l-year project commenced in August 2023 and involves a review of both
the build of the plarform and the staff training required to ensure accuracy of data entry, escalation
and oversight. The project has also included development of other modules on policy management,
information governance, complaints, compliments, audits and CQC evidence.
Systmone clinical record keeping went live in April 2023 and we are delighted that all services are
using this documentation platform with really good effect. The new unit allows us to share
information with GP'S and community services.
Team meetings help us keep all staff up to date with policies, learning from incidents and new
guidelines and a quality notice board outside the staff room holds information regarding infection
control, audits, education opportunities and patient feedback.
The safeguarding leadership within the organisation has been strengthened with additional staff
members trained to Level 4. Mandatory training requirements for all staff and volunteers were
reviewed and a refreshed approach to communicating the importance of our safeguarding
responsibilities has commenced.
To help us embed quality improvement we have appointed an Associate Director of Care- Quality,
a highly trained nurse who brings a wealth of experience from previous quality roles.
Our vacancy rate has been held at a higher than usual rate as we hold recruitment on all but
essential roles.
Page 6

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
Turnover amongst core staff has been consistent across the year and benchmarks at comparative
levels with local NHS provider data. Our long term absence rates reduced, making our overall
absence rates below published NHS absence rates for the first time since pre-pandemic.
Volunteers
Volunteers give their time freely, working alongside paid staff to support the Hospice
offering
their skills, knowledge and experience to all areas. Volunteers are a key part of helping the charity
to achieve its aims and objectives.
Volunteer recruitment and retention remains strong. Excellent volunteer support services provide
regular contact and a quarterly newsletter is produced for them to ensure they remain as informed
as possible in relation to what is happening more widely within the organisation. All of our
volunteers receive a full induction and keep up to date with regular training throughout the year.
Our bereavement support volunteers are supported through supervision. We hold an annual thank
you event to celebrate and than1< our volunteers for their contribution to the Hospice.
At the end of the year we had 353 active volunteers, 183 of these being in the retail
shops. Our volunteers contributed over 50,000 hours of their time.
'The first two of the exceptional nurses arrived
andfrom that moment on the quality and
consistency of supportfor our Mum, andfor us
all, enabled her to die in the way she had lived,
surrounded by those she loved and who loved
her.
Every wonderful nurse who came to the
house took immense time and trouble and it
made the world of difference.
Page 7

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
Care
What we achieved against this these objectives in the year l April 2023 to 31 March
2024 - annual review:
Ensure that patients and their families remain at the centre of all decision making
Ensure plans reflect the National Ambitions Framework for Palliative and End of Life Care
2021
Lead on development and provision of palliative and end of life care education
Become an integral partner within the Integrated Care System
Worl< with other organisations locally to ensure the needs of hard to reach groups are
met
Our data shows increased demand across all services. Whilst it is great to see services being utilised
to capacity it is difficult to manage waiting lists and the challenges that this presents. Waiting lists
are now accruing across all departments with the exception of Bereavement.
Inpatient Unit (IPU)
Our Inpatient Unit provides 9 beds and is nurse led with medical oversight from a local GP
Practice. Patients are admitted for symptom management and end of life care. Over the past year
we cared for 125 patients within the unit.
Hospice at Home (HAH)
Our Hospice at Home service delivers the same holistic and compassionate care model of our IPU
within the home environment. The service provides care and support to patients and their families
who are in the last weeks of life. Patients remain supported overnight by our Rapid Response
service which provides families and informal carers with access to immediate advice and support if
they have unexpected care needs. These services supported 648 patients.
Day Therapy Services (The Tulip Centre)
With a focus on quality of life, self-management and maintaining independence the therapy team
supports outpatient and group activity within our Tulip Centre. The team offer help with non-
pharmacological symptom management, assessing and improving physical function and creating
environments that enable people to engage in meaningful activities. The Tulip Centre supported
345 patients in the year.
Family and Carer Support Service {FACSS)
The Family and Carer Support Service is divided into three elements, Bereavement Support,.
Pastoral, Spiritual and Religious Care and Social Work.
Page 8

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
Bereavement Support comprises a team of bereavement support workers (volunteers) alongside
psychotherapeutic counsellors who lead the service. The team support individuals who have
experienced a death known under the Hospice's care. Those engaged with the service are offered
I: I support either in person, by telephone or virtual delivery. Group activity is delivered through
walking groups and social groups in local gardening centres.
The chaplain works within the IPU setting and leads pastoral, spiritual and religious care. The
chaplain also supports outpatients by telephone and offers support to our staff members and
volunteers.
Our social worker provides support to all elements of our services
inpatient, outpatient and
community based. Alongside offering emotional support to families, we are able to offer support
around finance and housing problems. The FACSS supported 185 people.
Care Home Liaison
The Hospice employs an advanced nurse practitioner to provide advice and support to the care
home sector in West and North Norfolk. The aim of this service is to ensure residents have access
to an enhanced level of care, the staff feel empowered to provide good end of life care and the
number of residents transferred to our local acute hospital can be reduced.
Alignment to National Policy
01
Each person is seen as an individual
02
Each person getg fair access to care
Maximising comfort and wellbein9
04
Care is coordinated
All stalf are prepared lo car•
Each community is pr•pared to h•lp
Page 9

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
The Norfolk and Waveney Palliative and End of Life Care Strategy aligns to the National Ambitions
for Palliative and End of Life Care Framework and it remains at the centre of our development
strategy.
Ambition l Our model of care delivery supports individualised and person-centred care from
point of referral throughout the entire care journey. Every patient, family member or client is
assessed and offered a bespol<e plan of care that centres on what is important to them. We are
rigorous in collating and addressing feedback and committed to creating new ways to ensure that
patients and family members are engaged with us in conversations regarding service delivery and
service planning. This applies to those who have previously received support, are currently
receiving support or are interested in receiving support in the future
Ambition 2 - Our direct referral pathway is fully operational and we promote services and the
option to self-refer.
Ambition 3 We successfully recruited two hospice doctors with special interest in palliative care
to join our clinical team. Our local GP Surgery provide oversight of our IPU and visit twice weel<ly
to undertake a ward round.
Ambition 4 - Our clinical coordination team ensure that patient flow between services is seamless.
Ambition 5 We are negotiating with the local authority to look at a secondment opportunity for
one of their more experienced social workers to sit in an integrated role across the Hospice and
social care.
Ambition 6 - we have launched a Compassionate Community programme that empowers people
to speak openly about death, dying and grief so that neighbourhoods and communities across West
and North Norfolk start to recognise the role each individual can play in supporting those around
them. This programme linl<s with schools and colleges, faith groups and other community groups
and will support our corporate partnership scheme in the future.
On 20 May 2023 we held our first conference which brought together colleagues from both
community and acute services. The event was a huge success and the room was filled with positivity
and desire to collaborate to improve patient experience. Dr Kathryn Mannix, award winning
author, spolie about her experiences of end of life care from her many years as a Consultant in
Palliative Medicine. The ICB Clinic21 Advisor for Palliative Care, then gave a fairly broad overview
of aspirations for the ICB in terms of palliative and end of life care for the future, including the
financial and workforce challenges we are faced with. An informal workshop was held over brunch
and invited colleagues to express what they felt were the missing pieces and what should be our
collective priorities for the coming years. A leading academic from the University of East Anglia led
the final conversation on Compassionate Communities. Feedback for the event was excellent,
In July we appointed a clinical project manager to lead a grant funded quality improvement
programme. The Norfolk Institute for Coastal and Rural Health Equality Embedded Fellowship
Programme aims to support colleagues in the acute hospital with identification of the dying patient
and supporting conversations with patients and families regarding their wishes for end of life care.
It hopes to increase the implementation of rapid discharge for patients who are identified as being
Page 10

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
in the last short weeks of life while in the acute hospital. The project ran over 12 months until July
2024. The number of patients transferred to our IPU from the acute hospital has increased since
the project was initiated and relationships between teams are collaborative and supportive.
During the year we contributed to new guidance on supporting individua15 With learning disabilities.
We successfully applied for a grant to fund a local project in partnerships with the Anne Robson
Trust to train and coordinate volunteer5 to provide increased support for those in the last days of
life, and those closest to them, who wish to die in their own home. The Rrant will fund a project
manager to train, support and coordinate the programme alongside the clinical lead for HAH.
Income Generation
What we achieved against this these objectives in the year l April 2023 to 31 March
2024-
annual review:
Increase diversification of income streams
To grow legacy income steadily towards £ I million per annum through whole
organisation education, improved messaging regarding gifts in wills and increased
identification and stewardship of legacy pledgers
Continue to build reserves
Negotiate new contracts with commissioners to ensure sustainability as an independent
Hospice
Fundraising
The Trustees fully support the voluntary scheme put in place by the Senior Leadership Team for
regulating fundraising activities and monitoring compliance with the regulations outlined by the
Institute of Fundraising. The charity also upholds a code of practice within its fundraising team (also
covered in contracts with third parties) to protect the public and vulnerable members of our society
from unreasonable intrusion, unreasonably persistent approaches and undue pressure to give, in
accordance with the Protection and Social Investment Act 2016. All fundraising activities are
monitored throughout the year.
Our biggest Tulips for Tapping event to date ran for an I l-day period in early May 2023. Volunteers
contributed 1,360 hours of time. We had over 20,000 visitors and the event raised an incredible
£140,268.
Following on from Tulips we had a show garden at the Sandringham in Bloom event, which helped
to raise our profile. The garden represents the journey our patients and their families take when
referred to the Hospice for support.
We launched a new lottery on 26 July advertised with a mail drop on l 00,000 doorsteps in August
and coupled with a press campaign. An email was sent to all existing players informing them of the
new Rollover Jackpot Prize and suggesting an increase in the number of lines they play.
Page 11

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
A New Director of Fundraising started on l August 2023. They laid strong foundations relating to
improving our fundraising activity. An overhaul of our data system Raisers Edge was undertaken
and the fundraising team all committed to a training programme on how to best use the system.
This enables a much more efficient way of recording supporters, categorising them into groups,
streamlining communications to all of the groups and running reports on each group's activity. The
team had full reviews of their roles, responsibilities and targets for the financial year.
We had a very successful event at the Mansion House in London bringing together individuals who
have generously supported the Hospice, both new and old and from individual donors to corporate
partners.
Through this event and subsequent engagement, we have been offered support from a renowned
marketing organisation. The offer includes the design and concept work, all artwork and website
redesign. This work is all being done pro bono and will elevate our brand and our marketing
strategy going forward.
Our other income generation streams are being overseen by our team of experienced fundraisers
and include regular giving, events, corporate sponsor packages, third party community events and
legacies and in memory giving. Each of these streams are undergoing review and opportunities
being sought on how we can make all of them work harder for us.
A trust fundraiser was recruited to bring this income stream back in-house following a period of
outsourcing.
The marketing and communications team was also brought back in-house and the recruitment
coincided with our brand repositioning work stream.
The reality of our current financial position is clearly in contrast with our strategic intention in
relation to building reserves. It is of some comfort that we are not alone in this as the Hospice
sector nationally report most operating with significant financial deficits.
Statutory funding
Our statutory funding streams are in a much better place now with contracts signed for IPU, Rapid
Response and Care Home Liaison.
From l August 2023 the new three-year contract includes:
Block contract of 8 beds
Spot purchase of I bed
Rapid Response service overnight
Care Home Liaison
Not included but given written assurance by ICB to be formerly added as contract variations:
Ongoing Tulip Centre and HAH - previously subcontracted by lead provider of the
recently disaggregated West Norfolk Integrated Palliative Care Service
Increased HAH contract starting from 7 March 2024
Page 12

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
Not included and still to be agreed by ICB:
Additional HAH overnight staffing, admin, non-pay and corporate overheads
Everything listed above is now subject to an annual inflator applied to all NHS contracts on the I
April each year.
STRATEGIC REPORT & PLANS FOR THE
FUTURE
As an independent charity we help people affected by life-limiting conditions to make
the best of the rest of life, and we help those who are important to them to navigate
their loss. We do this with energy, spark and enthusiasm so that the Hospice and our services
are a joyful and positive experience for all. We will continue to deliver our service with the values
of Compassion, Accessibility, Respect and Excellence. As we loo1< to the future our strategy will
prioritise patients and meet the challenges ahead.
Demand continues to increase
The UK population is undergoing a massive age shift. There are over I I million people aged over
65, and in ten years this will have increased to 13 million (22/0 of the population). West Norfolk
tends to have an older population compared to the rest of the UK - today we already have 26/.
of people aged over 65. Many of them have retired into the area and do not have family carers
close by. We need a national plan to ensure that everyone in the UK can die with dignity, and with
access to the services they need.
We must continue to deliver quality person centred care
We will ensure that patients remain at the heart of our service, with high quality care that meets
individual needs. To do this we will recruit, train and retain the highest calibre staff to enable the
delivery of excellent care. We see our role in ensuring that our community and wider society is
better prepared for the challenges of death and dying. Our strategy will loo1< within and beyond
our organisation to empower staff, volunteers and communities through the development and
provision of innovative education programmes.
We must continue to diversify and grow income
To meet our future challenges income must grow. In 202415 we need to raise £4.1 m to fund the
Hospice. We know that with inflation we will need to grow at least 5/0 year on year and find new
sources of income if we are to grow services. In addition to developing our current income streams,
the cornerstones of our strategy are to further diversify our fundraising and commercial income
sources, and grow our shop network so that we can maximise revenue to provide sustainable and
flexible income.
Page 13

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
Future plans
The trustees will continue to support the Senior Leadership Team in their plans to consolidate the
position of the charity as a leader in comprehensive palliative care provision in West and North
Norfolk and the surrounding area.
The coming financial year presents further opportunities to negotiate increased contracts with the
ICB tal<ing the lead on new place-based initiatives that aim to improve outcomes for people
approaching the last phase of life and those who are important to them.
OUR FINANCIAL REVIEW
Total income for the year has increased by £154,997 to £4,687,446 (2023: £4,532,449). This is
represented by an increase of £194,150 in unrestricted income to £4,543,418 (2023.. £4,349,268)
and a decrease in restricted income of £39,153 to £144,028 (2023: £183,181). Further detail on
unrestricted and restricted income can be drawn from note 5 of the accounts.
The Trustees have kept the policies for both reserves and investments under review, which in
summary are (a) to aim to accumulate unrestricted reserve5 equivalent to one year's running costs
and {b) to continue to be risk averse by ordinarily holding reserves in UK deposit accounts, have
remained unchanged.
Evelyn and partners were appointed by the Trustees to hold and invest an initial sum of £500,000
with a specific brief to create growth and additional income with a projected annualised rate of
return over the longer term of the Consumer Price Index (CPI) +2/. The portfolio performance
has not yet reached this target and at the end of March 24 the performance since the start date is
1.4/. below this target. A review has since been carried out and no changes to the investment
strategy have been suggested. The primary investment restriction for the portfolio is not to be
invested in tobacco or tobacco products.
The total net assets held by the charity at the end of March 2024 were £5,700,447, of which
£446,234 {2023: £448,512) were related to specific projects. Unrestricted funds available for any
purpose at the same date were £713,915 (2023: £1,079,793). This level of unrestricted
undesignated funding equates to less than 2 months running costs which we recognise is less than
we would wish. New Fundraising and Retail Strategies are currently being developed with the aim
of increasing sustainable levels of income which will help bolster these reserves.
In addition to regular income generated from our Hospice shops and lottery, principal funding
sources the ICB, voluntary individual donations, legacies, corporates, charitable trusts 2nd
organisations.
Page 14

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
OUR STRUCTURE, GOVERNANCE AND
LEADERSHIP
ENSURING OUR WORK DELIVERS OUR VISION
Reference and administrative details
Registered charity name
The Norfolk Hospice
Charity registration number
1062800
Company registration number
03185605
Principal office and registered office
The Norfolk Hospice
Wheatfields
Hillington
Kings Lynn
Norfolk
PE316BH
Trustees
The Trustees who served during the year and at the date of approval were as follows:
Dr Laurence Atkinson
Dr Peter Coates (Resigned 3 August 2023)
Ms Andrea Craig
Dr Susan Crossman
Mrs Mary Jane Edwards (Appointed 18 May 2023)
Mr Timothy How (Chair)
Mrs Julia Marozzi (Resigned 31 July 2024)
Mr Brian Pinker (Resigned 9 May 2024)
Dr Lesley Macdonald (Appointed 8 February 2024)
Senior Leadership Team (SLT)
Miss Nicola Ellis, RGN, Chief Executive
Mrs Lynn Lockheart, CIPD, Director of Operations and Retail
Mr John Garrett, FAIA. FFA. MCMI, Director of Finance (Retired May 31" 2024)
Mrs Henrietta Carter Mayer, Director of Fundraising (Fixed Term Contract July 1" 2023
December 31" 2023)
Mrs Samantha Loveday, Director of Strategy and Engagement (Appointed February I st 2024)
Page 15

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
Auditor
Saffery LLP
Vvestpoint
Peterborough Business Park
Lynch Wood
Peterborough
PE2 6FZ
Bankers
Clydesdale Banklvirgin Money
30 St Vincent Place
Glasgow
GI 2HL
The organisation is a charitsble company limited by guarantee. It was founded in 1984 as West
Norfolk Home Hospice and incorporated on 12 April 1996. The company was established under
a Memorandum of Association which established the objects and powers of the charitable company
and is governed by its Articles of Association. A revised Memorandum and Articles of Association
were adopted on 29 May 2014. In the event ofthe company being wound up, members are required
to contribute an amount not exceeding £ l.
Following re-branding in 2006 our logo includes the phrase 'The Norfolk Hospice, Tapping House,.
The charity is registered as The Norfolk Hospice (Certificate of Incorporation on name change
granted on 27 May 2009).
The Hospice has a Board of Trustees of up to nine members who meet quarterly and are
responsible for the overall strategic direction and policy of the charity. The Chief Executive (CEO)
has delegated responsibility for the day-to-day leadership and management of the charity,
implementing strategy and overall leadership of the provision of services. The CEO (with the
support of the SLT whose members lead different functions within the Hospice) reports to the
Board of Trustees, which approves major decisions and has overall responsibility for the Hospice's
activities.
The SLT meet yearly with the Board of Trustees to review our strategy, vision, mission and values.
Quarterly meetings review progress against strategy. These meetings consider governance, risk,
patient and carer feedback and the financial position of the organisation and ensure that the Board
understands how the organisation is performing and is swiftly alerted to any issues of concern.
The directors of the company are also charity Trustees for the purpose of charity law. New
Trustees are appointed by the current Board members. The Hospice Trustees are expected to be
pro-active in supporting the Hospice. Trustee recruitment is achieved through local advertisement,
interview and appointment. A periodic review of existing skills and expertise is undertaken and
assessment made of what is required to meet the strategic needs of the charity. This informs the
recruitment and selection of prospective Trustees along with evidence of their motivation and
support for the charity's aims.
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The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
New Trustees are taken through an induction process at the Hospice, which includes a tour of all
the facilities and individual meetings with the CEO and Senior Leadership Team.
Members of the Board serve for a period of three years after which they may be elected for a
further two terms of three years.
The Board has two sub-committees to aid the conduct of their responsibilities of governance. They
are "Finance and Investment" and "Care and Clinical Governance"
The Registered Manager (CEO) has responsibility for implementing the agreed strategic
development of Hospice services and compliance. The day-to-day operational management of the
care services and supervision of the care team is led by the Clinical Leadership Team consisting of
CEO, Lead for Family and Carer Support, Therapy Lead and Senior Nurses, ensuring that the care
team continues to develop sl<ills and working practices in line with best practice.
Public Benefit Statement
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006
to have due regard to the Charity Commission's general guidance on public benefit, Charities and
Public Benefit. The Hospice's charitable purpose is set out at the beginning of this report. The
charity has delivered this public benefit as outlined above.
Risk Assessment
In line with our ris1< assessment policy a rislc register has been established and is reviewed on a
monthly basis by the Senior Leadership Team. All of the teams within the organisation have their
own risk register but report high risks to the SLT and, subsequently, the Board. Our Organisational
Governance Policy details clearly how this is managed through various committees.
Where appropriate, systems or procedures have been established to mitigate the risks the charity
faces. Internal control risks are minimised by the implementation of policies and procedures for
authorisation of all transactions and projects. Procedures are in place to ensure compliance with
health and safety of staff, volunteers, patients, customers and visitors to the Hospice and its retail
outlets. Clinical risks are highlighted via the clinical teams and escalated via the Clinical Leadership
Team through to a Care and Clinical Governance Committee and subsequently the Board.
The charity is obliged to meet the national standards of the Care Quality Commission and to
comply with employment legislation and health and safety of staff, volunteers, users and visitors in
all of its premises. The Health and Safety policy includes a system for undertaking and recording
risk assessments.
The Trustees have identified key risks to the ongoing success of the Hospice:
Workforce - due to the rising demand for healthcare services and an unsustainable nursing
workforce shortage locally and nationally, our ability to recruit and retain quality clinical
staff is compromised. This may restrict our ability to meet current and future demand for
Page 17

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
our service. To mitigate these risks we are continuing our investment in staff training to
diversify the skill mix of our clinical workforce and developing new ways of working.
Cost of living crisis the rise in costs of food, energy, fuel and equipment coupled with a
potential decrèase in lottery subscriptions, decrease in donations to retail, decrease in
monetary donations may impact on our financial sustainability. To mitigate this we are
continuing to develop our income strategy to support a well-diversified income portfolio
through the use of new fundraising opportunities and plans to increase our retail activities.
Instability in the structure of Health and Social Care funding - we are working with our ICB
to ensure equitable funding for our services in line with those delivered by our NHS
partners. We are proactively working within our local community to ensure that we are
central to some of the place-based work streams and associated funding streams.
Subsidiary companies
The company has one dormant subsidiary company:
Norfolk Hospice (Trading) Limited
Remuneration of key personnel
In accordance with the agreed job evaluation framework and available benchmarking information,
the Chief Executive has delegated authority to agree salaries. She will normally do so in conjunction
with all members of SLT, with the input and support of the Chair. The Chief Executive's own
salary is set by the Chair and Trustees.
External relationships
The Hospice continues to be a corporate member of Hospice UK.
Going concern
The activities of the company, its objectives, factors lil<ely to affect its future development and
the policies for managing its capital and financial risk are detailed in the Annual Report. The
Trustees have a reasonable expectation that the Hospice has adequate resources to continue in
operational existence for the foreseeable future, as the charity has a regime of annual budgeting
supported by monthly management accounts and quarterly Finance and Investment Committee
meetings enabling considered management decisions to be made. This allied with a level of
reserves, an appropriate identification and quantification of risk, supports the Trustees,
expectations. Thus, they continue to adopt the going concern basis of accounting in preparing
the financial statements.
Page 18

The Norfolk Hospice
(A company limited by guarantee)
Trustees, Report including Strategic Report
For the year ended 31 March 2024
Trustees, responsibilities statement
Company law requires the Trustees to prepare financial statements for each financial year which
give a true and fair view of the state of affairs of the charitable company and of the incoming
resource5 and application of resources, including the income and expenditure, of the charitable
company for that period. In preparing these financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP (FRS 102);
mal<e judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charity will continue in business.
The Trustees are responsible for keeping proper 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 hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware:
there is no relevant audit information of which the charitable company's auditor is unaware.
and
the Trustees have taken all steps that they ought to have taken to make themselves aware
of any relevant audit information and to establish that the auditor is aware of that
information.
The Trustees are responsible for the maintenance and integrity of the corporate and financial
information included on the charitable company's website. Legislation in the United Kingdom
governing the reparation and dissemination of financial statements may differ from legislation in
other jurisdictions.
Saffery LLP have expressed their willingness to continue in office as auditors.
report
and
the
strategic
report
were
and signed on behalf of the Board of Trustees by:
The Trustees,
annual
approved
on
Mr Timothy How
Trustee
MsAn
rea
Trustee
Page 19

The Norfolk Hospice
(A company limited by guarantee)
Independent auditor's report to the members
For the year ended 31 March 2024
Opinion
We have audited the financial statements of The Norfolk Hospice (the 'charity') for the year ended
31 March 2024 which comprise the statement of financial activities (including income and
expenditure account), balance sheet, statement of cash flows and the related notes, including a
summary of significant accounting policies. The financial reporting framework that has been applied
in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102
The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial statements".
give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its
incoming resource5 and application of resources, including its income and expenditure, for
the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice.,
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis of 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 charity in accordance with the ethical requirements that are relevant to our audit of the
financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other
ethical responsibilities in accordance with these requirements. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concern
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating
to events or conditions that, individually or collectively, may cast significant doubt on the charitable
company s ability to continue as a going concern for a period of at least twelve months from when
the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are
described in the relevant sections of this report.
Other information
The Trustees are responsible for the other information. The other information comprises the
information included in the annual report, other than the financial statements and our auditor's
report thereon. 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.
Page 21

The Norfolk Hospice
(A company limited by guarantee)
Independent auditor's report to the members
For the year ended 31 March 2024
Our responsibility is to read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained in
the course of the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether this
gives rise to a material misstatement in the financial statements themselves. If, based on the work
we have performed, we conclude that there is a material misstatement of this other information
we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, Annual Report which includes the Directors, Report
and the Strategic Report for the financial year for which the financial statements are
prepared is consistent with the financial statements; and
the Trustees, Annual Report which includes the Directors, Report and the Strategic Report
has been prepared in accordance with applicable legal requirements
Matters on which we are required to report exception
In the light of the knowledge and understanding of the charity and its 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 in relation to which the Companies
Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have
not been received from branches not visited by us. or
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of trustees, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Trustees, Responsibilities Statement set out on page 20, the Trustees
(who are also 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 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 charitsble company or to cease operations, or have no realistic alternative to do so.
Page 22

The Norfolk Hospice
(A company limited by guarantee)
Independent auditor's report to the members
For the year ended 31 March 2024
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditors under the Companies Act 2006 and report in accordance
with regulations made under that Act.
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 the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in
respect of irregularities, including fraud. The specific procedures for this engagement and the extent
to which these are capable of detecting irregularities, including fraud are detailed below.
Identifying and assessing risks related to irregularities..
We assessed the susceptibility of the charitable company's financial ststements to material
misstatement and how fraud might occur, including through discussions with the Trustees,
discussions within our audit team planning meeting, updating our record of internal controls and
ensuring these controls operated as intended. We evaluated possible incentives and opportunities
for fraudulent manipulation of the financial statements. We identified laws and regulations that are
of significance in the context of the charitable company by discussions with Trustees and updating
our understanding of the sector in which the charitable company operates.
Laws and regulations of direct significance in the context of the charitable company include The
Companies Act 2006, and guidance issued by the Charity Commission for England and Wales.
Audit response to risks identified:
We considered the extent of compliance with these laws and regulations as part of our audit
procedures on the related financial statement items including a review of financial statement
disclosLFres. We reviewed the charitable company's records of breaches of laws and regulations,
minutes of meetings and correspondence with relevant authorities to identify potential material
misstatements arising. We discussed the charitable company's policies and procedures for
compliance with laws and regulations with members of management responsible for compliance.
During the planning meeting with the audit team, the engagement partner drew attention to the
key areas which might involve non-compliance with laws and regulations or fraud. We enquired of
management whether they were aware of any instances of non-compliance with laws and
regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud
through management override of controls by testing the appropriateness of journal entries and
identifying any significant transactions that were unusual or outside the normal course of business.
We assessed whether judgements made in malcing accounting estimates gave rise to a possible
indication of management bias. At the completion stage of the audit, the engagement partner's
Page 23

The Norfolli Hospice
(A company limited by guarantee)
Independent auditor's report to the members
For the year ended 31 March 2024
review included ensuring that the team had approached their work with appropriate professional
scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.
There are inherent limitations in the audit procedures described above and the further removed
non-compliance with laws and regulations is from the events and transactions reflected in the
financial statements, the less likely we would become aware of it. 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.
A further description of our responsibilities is available on the Financial Reporting Council's website
at: www.frc.or .uldauditorsres
onsibilities This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertalcen so that we
might state to the charitable company's members those matters 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 anyone other than the charitable company and the charitable
company's members as a body, for our audit work, for this report, or for the opinions we have
formed.
Gareth Norris FCA (Senior Statutory Auditor)
For and on behalf of Saffery LLP
Statutory Auditors
2024
Westpoint
Peterborough Business Park
Lynch Wood
Peterborough
PE2 6FZ
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
Page 24

The Norfollc Hospice
(A company limited by guarantee)
Statement of financial activities (including income and expenditure accounts)
For the year ended 31 March 2024
2024
Restricted
funds
2024
Total funds
2023
Total funds
Unrestricted
funds
Notes
Income and
endowments
Donations and legacies
Charitable activities
Other trading activities
Investment income
Other income
846,378
1,300.088
2,373,677
19,880
3,395
144.028
990,406
1,300,088
2,373,677
19,880
3,395
809,131
1.324,403
2,386,950
11,903
62
Total income
4,543,418
144,028
4,687,446
4,532,449
Expenditure
Raising funds:
Costs of raising donation5
and legacies
Costs of other trading
activities
Charitable activities
(384,115)
(384,115)
(454,507)
(1,196.076)
(1,196,076)
(1,142,330)
(3,404,053)
(4,984,244)
(146,306)
(146,306)
(3,550,359)
(5,130,550)
(3,476,654)
(5,073.491)
Total expenditure
Net income and
movements in funds before
gains and loss on
investments
Net gainsl(105ses) on
investments
Net income before
transfer of funds
Transfers between funds
Net movement in funds
(440,826)
(2,278)
(443,104)
(541,042)
25,003
25,003
732
(415.823)
(415,823)
{2,278)
(2,278)
(418,101)
(418,101)
(540,310)
(540,310)
Reconclliation of funds
Total funds brought forward
28
5,670.016
448,512
6,118,528
6,658,838
Total funds carried forward
28
5,254,193
446.234
5,700,427
6,118,528
The statement of financial activities includes all gains and losses recognised in the year. All income and
expenditure derive from continuing activities.
The notes on page 28 to 48 form part of these financial statements.
Page 25

The Norfolk Hospice
(A company limited by guarantee)
Balance sheet
As at 31 March 2024
2024
2023
Notes
Fixed assets
Tangible fixed assets
Investments
17
4,490,298
529,897
4,590.223
501,152
5,020,195
5,091,375
Current assets
Stocks
Debtors
Cash at bank and in hand
20
21
22
39,906
836,291
233,707
55,419
955,418
482,091
1,109,904
1,492,928
Creditors: Amounts falling
due within one year
23
(389,698)
(408,535)
Net current assets
720,206
1,084,393
Total assets less current
liabilities
5,740,401
6,175,768
Creditors: Amounts falling
due after more than one
year
24
(39,954)
(57,240)
Net assets
5,700,447
6.118,528
Funds of the charity
Restricted funds
Unrestricted funds
446,234
5,254,213
448,512
5,670,016
Total charity funds
28
5,700.447
6,118,528
These financial statements were approved by the Board of Trustee5 and authorised for issue on
are signed on behalf of the Board by..
and
Mr Timothy How
Trustee
Ms Andrea Craig
Trustee
Company registration number: 03185605
The notes on page 28 to 48 form part of these financial statements
PaBe 26

The Norfolk Hospice
(A company limited by guarantee)
Statement of cash flows
For the year ended 31 March 2024
2024
2023
Cash flows from operating activities
Net income
(418,101)
(540,310)
Adjustment for..
Depreciation of tangible fixed assets
Net movement on investments
Dividends, interest and rents from investments
Gains on disposal of tangible fixed assets
Interest charged
171,479
(28,744)
(11,638)
1,834
3,646
185,620
(732)
(11,903)
14,476
Changes in:
Stoclc
Trade and other debtors
Trade and other creditors
15,513
119,146
(14,780)
(10,601)
132,483
64,357
Cash used in operations
(161,645)
(166,610)
Net cash from operating activities
(161,645)
(166,610)
Cash flows from investing activities
Dividends, interest and rents from investments
Purchase of tangible assets
Purchase of investments
11,638
(73,389)
11,903
(120,956)
(500,000)
Net cash used in investing activities
(61,751)
(609,053)
Cash flows from financing activities
Interest paid
Repayments of borrowings
(3,646)
(21,342)
(39,222)
Net cash from financing activities
(24,988)
(39,222)
Net {decrease}lincrease in cash and cash equivalents
Cash and cash equivalents at beginnings of year
{248,384)
482,091
(814,885)
1,296,976
Cash and cash equivalents at end of year
233,707
482,091
The notes on page 28 to 47 form part of these financial statements
Page 27

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements
For the year ended 31 March 2024
General information
The charity is a public benefit entity and a private company limited by guarantee, registered
in England and Wales and a registered charity in England and Wales. The address of the
registered office is The Norfolk Hospice, Wheatfields, Hillington, Kings Lynn, Norfolk,
PE316BH.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, 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 (FRS 102)
(Charities SORP (FRS 102)) and the Companies Act 2006.
The charity constitutes a public benefit entity as defined by FRS 102.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by
the revaluation of certain financial items at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the
entity and rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis as the Trustees
believe that no material uncertainties exist. The Trustees have considered the level of
funds held and the expected level of income and expenditure for 12 months from
authorising these financial statements. The budgeted income and expenditure is sufficient
with the level of reserves for the charity to be able to continue as a going concern.
Consolidation
The entity has taken advantsge of the exemption from preparing consolidated financial
statements contained in Section 402 of the Companies Act 2006 on the basis that the only
subsidiary is excluded from consolidation on the grounds that its inclusion is not material
for the purpose of giving a true and fair view.
Judgements and key sources of estimation uncertainty
No judgements (apart from those involving estimations) have been made in the process of
applying the entity's accounting policies.
There are no l<ey assumptions concerning the future or other sources of estimation
uncertainty at the reporting date that have a significant risk of causing a material adjustment
to the carrying amounts of assets and liabilities within the next financial year.
Page 28

The Norfollc Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
Accounting policies
(continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees to further any of
the charity's purposes.
Designated funds are unrestricted funds earmarked by the Trustees for particular future
project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor
or through the terms of an appeal.
Income
All income is included in the statement of financial activities when entitlement has passed
to the charity, it is probable that the economic benefits associated with the transaction will
flow to the charity and the amount can be reliably measured. The following specific policies
are applied to particular categories of income:
Income from donations or grants is recognised when there is evidence of entitlement
to the gift, receipt is probable and its amount can be measured reliably.
Legacy income is recognised where receipt is probable, entitlement is established and
the value can be measured reliably.
Income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the cost to
the donor or the estimated resale value. Donated facilities and services are recognised
in the accounts when received if the value can be reliably measured. No amounts are
included for the contribution of general volunteers.
Income from contracts for the supply of services is recognised with the delivery of
the contracted service. This is classified as unrestricted funds unless there is a
contractual requirement for it to be spent on a particular purpose and returned if
unspent, in which case it may be regarded as restricted.
Government grant income
Government grants are recognised at the fair value of the asset received or receivable
when there is reasonable assurance that the grant conditions will be met and the grants
will be received.
A grant that specifies performance conditions is recognised in income when the
performance conditions are met. Where a grant does not specify performance conditions
it is recognised in income when the proceeds are received or receivable. A grant received
before the recognition criteria are satisfied is recognised as a liability.
Page 29

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
Accounting policies
(continued)
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure
includes any VAT which cannot be fully recovered, and is classified under headings of the
statement of financial activities to which it relates:
Expenditure on raising funds includes the costs of all fundraising activities, event5, non-
charitable trading activities, and the sale of donated goods.
Expenditure on charitable activities includes all costs incurred by a charity in
undertaking activities that further its charitable aims for the benefit of its beneficiaries,
including those support costs and costs relating to the governance of the charity
apportioned to charitable activities.
Other expenditure includes all expenditure that is neither related to raising funds for
the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct
costs attributable to a single activity are allocated directly to that activity. Shared costs are
apportioned between the activities they contribute to on a reasonable, justifiable and
consistent basis.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
The aggregate benefit of lease incentives is recognised as a reduction to expense over the
lease term, on a straight-line basis.
3.1 O Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impairment losses. Capital expenditure of less than £500 is
charged to the Statement of Financial Activities in the year in which it is incurred.
3.1 l Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic life of that asset as follows:
Freehold property
Fixtures and fittings
Motor vehicles
Equipment
2% to 5/ Straight line
15% to 33.3/ Straight line
12.5% to 25% Straight line
15/0 to 50/ Straight line
Page 30

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
Accounting policies
(continued)
3.12 Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at
fair value. If fair value cannot be reliably measured, assets are measured at cost less
impairment.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expenditure.
3.13 Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete
and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred
in bringing the stock to its present location and condition.
3.14 Finance lease5 and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance
sheet as assets and liabilities at the lower of the fair value of the assets and the present
value of the minimum lease payments, which is determined at the inception of the lease
term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the
outstanding lease liability using the effective interest method. Finance charges are allocated
to each period so as to produce a constant rate of interest on the remaining balance of
the liability.
3.15 Pension scheme
Contributions to defined contribution plans are recognised as an expense in the period in
which the related service is provided. Prepaid contributions are recognised as an asset to
the extent that the prepayment will lead to a reduction in future payments or a cash refund.
3.16 Financial instruments
A financial asset or a financial liability 15 recognised only when the entity becomes a party
to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable
including any related transaction costs, unless the arrangement constitutes a financing
transaction, where it is recognised at the present value of the future payments discounted
at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Page 31

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
Limited by guarantee
The charity is a company limited by guarantee and does not have share capital. Every
member of the charity undertakes to contribute such amounts (not exceeding £ l ) as may
be required in the event of a winding up.
Donations and legacies
2024
Unrestricted
Total
funds
2024
Restricted
funds
funds
Donations
Donations from charitable trusts
Other donations, including gift aid
Game sales
98,682
410,204
4,842
126,200
5 7,828
224,882
428,032
4,842
Legacies
Legacies
332,650
332,650
846,378
144,028
990,406
2023
Unrestricted
Total
funds
2023
Restricted
funds
funds
Donations
Donations from charitable trusts
Other donations, including gift aid
Game sales
56,870
452,247
6,136
75,550
27,131
132,420
479,378
6,136
Legacies
Legacies
110,697
80,500
191,197
625,950
183,181
809,131
Page 32

The Norfoll< Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
Charitable activities
Unrestricted
funds
2024
Total
funds
Unrestricted
funds
2023
Total
funds
Inpatient unit
790,244
790,244
661,565
661,565
Outpatient services
Other income
507,764
507,764
467,229
467,229
2,080
2,080
195,609
195,609
1,300,088
1,300,088
1,324,403
1,324,403
Of the total income received from charitable activities £1,253,007 (2023: £951,831) was
received from the NHS.
Other trading activities
Unrestricted
funds
2024
Total
funds
Unrestricted
funds
2023
Total
funds
Income from
CateringlBeverages
Fund raising events
Shop income
Lottery income
34,145
314,311
1,762,837
262,384
34,145
314,311
1,762,837
262,384
337,485
1,764,833
284,632
337,485
1,764,833
284,632
2,373,677
2,373,677
2,386,950
2,386,950
Investment income
Unrestricted
funds
2024
Total
funds
Unrestricted
funds
2023
Total
funds
Evelyn Investment income
Interest on bank deposits
8,242
11,638
8,242
11,638
11,903
11,903
19,880
19,880
11,903
11,903
Page 33

The Norfolk Hospice
(A company limited by guarantee
Notes to the financial statements (continued)
For the year ended 31 March 2024
Other income
Restricted
funds
Unrestricted
funds
2024
Total
funds
Grants and sundry income
Services and other income
3,395
3,395
3,395
3,395
Restricted
Unrestrict
2023
funds
funds
Total
funds
Grants and sundry income
Services and other income
62
62
62
62
10.
Costs of raising donations and legacies
Unrestricted
funds
2024
Total
funds
Unrestricted
funds
2023
Total
funds
Fundraising and publicity
Lottery operating and
prizes
Trusts
253,454
253,454
317,553
317,553
110,980
110,980
97,969
97,969
19,681
19,681
38,985
38,985
384,115
384,115
454,507
454,507
Page 34

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
Costs of other trading activities
Unrestricted
funds
2024
Total
funds
Unrestricted
funds
2023
Total
funds
Shop expenditure
1,196,076
1,196,076
1,142,330
1,142,330
12.
Expenditure on charitable activities
Expenditure
undertaken
directly
Support
costs
2024
Total
funds
2023
Total
funds
Patient care and
associated
Activities
2,750,207
800,152
3,550,359
3,476,654
2024
2023
Support costs
Staff costs
Depreciation
{Gain)Iloss on sale of fixed assets
Office and administrative costs
Banli interest and charges
Auditor's remuneration
592,842
59,969
1,834
94,531
32,296
14,910
631,796
49,554
171,929
30,261
14,200
for audit
for other services
3,770
3,590
800,152
901,330
Page 35

The Norfolli Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
Net gains on investments
Unrestricted
funds
2024
Total
funds
Unrestricted
Funds
2023
Total
funds
Gainsl(losses) on listed
investments
25,003
25,003
732
732
14.
Net income
Net income is stated after chargingl(crediting}:
2024
2023
Depreciation of tangible fixed assets
{Gain)Iloss on disposal of fixed assets
Unrealised (gain)Iloss on investments
Auditor's remuneration - audit services
Operating lease rentals - land and buildings
171,479
(1,908)
(25,003)
14,910
282,425
185,620
14,476
{732)
14,200
283,572
15.
Staff costs
The total staff costs and employees benefits for the reporting period are analysed as
follows:
2024
2023
Wages and salaries
Social Security costs
Other pension costs
3,142,516
283,586
124,648
3,111,947
287,013
122,262
3,550,750
3,521,222
The average head count of employees during the year was 132 (2023: 135).
Page 36

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
The number of employees whose remuneration for the year fell within the following bands,
were:
Support costs
2024
2023
£60,000 to £69,999
£70,000 to £79,999
£80,000 to £89,999
Key Management Personnel
The Key Management Personnel comprise the Senior Leadership Team as listed on page
16. The total amount of employee benefits (including pension contributions) received by
senior management for their services to the charity was £275,998 (2023: £266,673).
Trustee remuneration and expenses
None of the Trustees or connected persons received any remuneration or reimbursed
expenses during the year.
Page 37

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
Tangible fixed assets
Freehold
property
Fixtures
and fittings
Motor
vehicles
Equipment
Total
Cost
At l April 2023
Additions
Disposals
At 31 March 2024
4,969,628
23,840
(1,264)
4,992,204
403,416
577
(577)
403,416
165,611
419,853
48,972
(82,280)
386,545
5,958,508
73,389
(84,121)
5,947,776
165,611
Depreciation
At l April 2023
Charge for the year
Disposals
625,125
106,614
(1,264)
328,700
14,645
{5T4
106,583
12,362
307,877
37,858
(80,445)
1,368,285
171,479
(82,286)
At 31 March 2024
730,475
342,768
118,945
265,290
1,457,478
Carry amount
At 31 March 2024
4,261,729
60,648
46,666
121,255
4,490,298
At 31 March 2023
4,344,503
74,716
59,028
111,976
4,590,223
All fixed assets of the charitable company are used for charitable purposes. Freehold
land and buildings includes land with a cost of £23,100 which is not depreciated.
Included in the total net book value of motor vehicles was £12,658 (2023: £29,765) in
respect of assets held under finance leases.
Page 38

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
18.
Investments
Listed
investments
Shares in
Total
group
undertakings
Cost or valuation
At l April 2023
Net additionsldisposals
Fair value movements
501,151
3,741
25,003
501,153
3,741
25,003
At 31 March 2024
529,895
529,897
Impairment
At l April 2023 and 31 March 2024
Amount carried forward
At 31 March 2024
529,895
529,897
At 31 March 2023
501,150
501,152
Financial assets held at fair value
The fair value of listed investments is determined by reference to the quoted price for
these assets in an active market at the balance sheet date.
19.
Investments
19.1 Subsidiaries and other investments
The dormant subsidiary undertal<ing, Norfolk Hospice (Trading} Limited (02921830), is
registered in England and Wales. The share capital is owned in entirety by The Norfolk
Hospice. At the year end, the aggregate capital and reserves of the company amounted to
£2. The company was dormant throughout the year.
20.
Stocks
2024
2023
Bought in goodsldonated goods for resale
39,906
55,419
Page 39

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
21.
Debtors
2024
2023
Trade debtors
Prepayments and accrued income
Other debtors
169,063
98,508
288,159
568,720
555,648
836,291
955,418
The charity has been notified of additional legacies which have not been included within
the accounts as there is uncertainty over the value to be received.
22.
Cash and cash equivalents
2024
2023
Cash and cash equivalents consist of:
Cash at bank- current accounts
Short term deposits
Petty cash
217,480
13,092
72,217
406,637
3,135
3,237
233,707
482,091
23.
Creditors
Amounts falling due within one year
2024
2023
Bank loans and overdrafts
Trade creditors
Accruals and deferred income
Social security and other taxes
Obligations under finance leases and hire purchases
contracts
Other creditors
16,913
103,632
120,653
65,712
16,606
137,466
99,434
72,815
373
82,415
4,737
77,477
389,698
408,535
Bank loans are secured by a debenture with a fixed and floating charge over the assets of
the charity. Banlc loan terms of repayment are via a monthly charge and interest is payable
at 7.49/0 on the principal amount.
The hire purchase liabilities are secured over the assets concerned.
Page 40

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
24.
Creditors
Amounts falling due after more than one year
2024
2023
Bank loans and overdrafts
Obligations under finance leases and hire purchase
contracts
39,954
56,867
373
39,954
57,240
Bank loans are secured by a debenture with a fixed and floating charge over the assets
of the charity. The loan was taken out on 27 July 2018 for a term of l O years. Bank loan
terms of repayment are via a monthly charge and interest is payable at 7.49% on the
principal amount.
A £50,000 COVID Bounce Back Loan was taken out on 4 July 2020 for a term of 6 years
with interest payable at 2.5Y.. There is no security on this loan.
The hire purchase liabilities are secured over the assets concerned.
25.
Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts
are as follows:
2024
2023
Not later than l year
Later than l year and not later than 5 years
373
4,737
373
373
5,110
Page 41

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
26.
Deferred income
2024
2023
At l April 2023
Amount released to income
Amount deferred in year
49,355
(49,355)
76,600
55,559
(55,559)
49,355
76,600
Deferred income relates to event income received in advance and lottery income relating
to future draws.
49,355
27.
Pensions and other post-retirement benefits
27.1 Defined contribution plans
The Hospice operates a defined contribution personal pension plan. The assets of the plan
are held separately from those of the charity in independently administered funds. The
pension cost charge represents contributions payable by the charity to the plan and
amounted to £124,648 (2023: £122,205).
28.
Analysis of charitable funds
28.1 Unrestricted funds
Atl
April
2023
Income
Expenditure
Investment
(loss)IgaTn
Transfers
At31
March
2024
General
1,079,793
4,543,418
(4,984,244)
25,003
99,925
763,895
Designated
funds:
Fixed asset
fund
4,590,223
(99,925)
4,490,298
5,670,016
4,543,418
(4,984,244)
25,003
5,254,193
Page 42

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
28.1 Unrestricted funds (continued)
Atl
April
2022
Income
Expenditure
Investment
(loss)Igain
Transfers
At31
March
2023
General
1,655,990
4,349,268
{5,005,337)
732
79,140
1,079,793
Designated
funds:
Fixed asset
fund
4,669,363
(79,140)
4,590,223
6,325,353
4,349,268
(5,005,337)
732
5,670,016
The designated fixed asset fund has been established to assist identifying those funds that are not
free reserves and represents the net book value of tangible fixed assets, excluding those funded
from restricted income.
Transfer between restricted and unrestricted funds represent the transfer of the net book value
of fixed assets purchased with restricted funds on which there is no ongoing restriction.
Page 43

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
28.
Analysis of charitable funds (continued)
28.2 Restricted funds
Atl
April
2023
Income
Expenditure
Transfers
At31
March
2024
In patient unit
Hospice at home
Equipment fund
Day therapy
In memory garden
Other funds
162,170
500
113,284
9,386
(113,708)
(9,386)
161,746
500
147
40,568
244,009
448,512
147
40,858
241,865
446,234
290
21,068
144,028
(23,212)
(146,306)
Atl
April
2022
Income
Expenditure
Transfers
At31
March
2023
In patient unit
Hospice at home
Equipment fund
Day therapy
In memory garden
Other funds
153,261
500
13,655
16,161
(4,746)
162,170
500
147
9,683
168,776
333,485
147
40,568
244,009
448,512
31,453
121,912
183,181
(568)
(46,679)
(68,154)
In Patient Unit
Donations received towards the establishment of the inpatient unit at the new hospice at
Hillington.
Hospice at Home
Income received towards the Hospice at Home service.
Equipment funds
These funds represent donations received, and funding from the East of England Development
Agency and Community Fund. towards the cost of furniture and equipment. Depreciation is
charged to these funds on an annual basis.
Day therapy
Funds received for the provision of day therapy services.
In memory garden
Donations received for establishing a memorial garden.
Page 44

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
29.
Analysis of net assets between funds
Net
current
assets
2024
Tangible
fixed
assets
Investments
Creditors
> lyear
Total
Unrestricted
funds:
General
529,897
223,972
(39,954)
713,915
Designated
funds:
Fixed asset funds
4,490,298
4,490,298
Restricted fund
446,234
446,234
4,490,298
529,897
720,206
(39,954}
5,700,447
Net
current
assets
2023
Tangible
fixed
assets
Investments
Creditors
> lyear
Total
Unrestricted
funds:
General
501,153
642,486
(63,846)
1,079,793
Designated
funds;
Fixed asset funds
4,590,223
4,590,223
Restricted fund
448,512
448,512
4,590,223
501,153
1,090,998
(63,846>
6,118,528
30.
Connected charity
Tapping House Hospice (formerly Norfolk Hospice Care), a company limited by guarantee
(03692022), is under the control of the Trustees of The Norfolk Hospice. This connected
charitable company was originally formed for the purpose of operating the Hospice but
ceased all activities in 2005 and was dormant throughout 2023-24.
Page 45

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
Capital commitments
Capital expenditure contracted for but not provided for in the financial statements is as
follows:.
2024
2023
Tangible fixed assets
28,784
32.
Operating lease commitments
The totsl future minimum lease payments under non-cancellable operating leases are as
follows:
2024
2023
Not later than l year
Later than l year and not later than 5 years
Later than 5 years
180,800
318,717
34,500
180,800
476,517
57,500
534,017
714,817
33.
Related parties
There are no related party transactions during the period (2023: £Nil)
34.
Analysis of net debt
31 March
23
Cash
flow
Non cash
flow
31 March
24
Cash in hand
482,091
(248,384)
233,707
Hire purchase < l year
Hire purchase > l year
Bank borrowings < I
year
Bank borrowings > I
year
(4,737)
(373)
(16,606)
4,364
373
(373}
(307)
(16,913)
(56,867)
403,508
16,913
(39,954)
176,467
(227,041)
Page 46

The Norfolk Hospice
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2024
35.
Comparative information- Statement of Financial Activities for the Year ended
31 March 2023
2023
Restricted
funds
2023
Unrestricted
Total
Notes
funds
funds
Income and endowments
Donation5 and legacies
Charitable activities
Other trading activities
Investment income
Other income
846,378
1,300,087
2,373,677
183,181
809,131
1,324,403
2.386,950
11,903
62
19,880
3,395
Total income
4,543,417
183,181
4,532.449
Expenditure
Raising funds:
Costs of raising donations
and legacies
Costs of other trading
Activities
Charitable activities
(384,114)
(454,507)
(1,196,076)
(3,404,053)
(1,142,330)
(3,476,654)
(68,154)
Total expenditure
{4,984,243)
(68,154)
(5.073,491)
Net income and movements
in funds before gains and
Loss on investments
Net gainsl (losses) on
investment5
Net income before transfer
of funds
(440,826)
115,027
(541,042)
25,003
732
(415,823)
115,027
(540,310)
Transfers between funds
Net movement in funds
(415,823)
115,027
(540,310)
Reconciliation of funds
Total funds brought forward
5,670,016
333,485
6,658.838
Total funds carried
forward
5,254,193
448,512
6.118,528
Page 47