Registered number: 03481737 Charity number: 1067238 Countess Of Brecknock Hospice Trust (A Company Llmlted by Guarantee) Trustees. Report and Flnanclal Statements For the year ended 31 March 2024
Countess Of Brecknock Hosplce Trust (A Company Llmlted by Guarantee) Contents Page Relerence and Adminlstratlvo Detalls of tha Charlty, It8 Trustees and Advlser$ Trusl88s' Report Indepondent Audltors, Report on tho Flnanclal Slatementg Slalement ol Flnanclal Actlvltle8 Income and Expenditure A¢¢ount Balanco Sh88t Statement of Cash Flow8 No188 10 Ihe Flnanclal Stalemonts 3. 11 12- 14 15 16 17- 18 19 20-38
Countess Of Brecknock Hosplce Trust (A Company Llmited by Guarantee) Rolèrèncè and Admlnlstrative Details of the Charlly, its Trustees and Advisers For the year 8nded 31 March 2024 Trustees C M Scheckier DL, Chair Rear Admiral l R Henderson CB CBE DL, Vice Chair Vice Admiral R P Boissier CB R Childs M Hyson FCA P A Kinnersley-west Ireslan@d 24 May 2024) B R W Parker MBE {resioned 2 November 20231 E K Sandy S Tufnell (appointed 2 November 2023) Company reglsterod number 03481737 Charlty reg5slergd number 1067238 Reglstered offl¢e Brecknock House Henry Gamman Drive Andover Hampshire SP103LB Company 8ecretary M Gard Inv&8tm8nl Advlsors Rathbones Investment Management Fiennes Hous8 32 Southgate St Winchester S023 9EH Indgpendent auditors Xeinadin Audil Limited Chartered Accounlanls 8th Floor Becket House 36 Old Jewry London EC2R 8DD Page 1
Countess Of Brecknock Hospice Trust (A Company Limited by Guaran100) Reference and Admlnlslrative Details of the Charily, lis Truslees and Advlsers (continued) For the year endèd 31 March 2024 Bankers Lloyds TSB Bank plc 22 High Street Andovér Hampshire SPIO 1BJ The Bank of Scotland Beauclerc Hous8 3 Queens Road Reading RG14AR Virgin Money UK PLC Bearing House Clydebank Business Park Clydgbank G812NR Soll¢ltors Talbol Walker 16 Bndge Sl Andover Hampshlr8 SP102NW Page 2
Countess Of Brecknock Hospice Trusl (A Company Limiied by Guarantee) Trustees, Report For Ihe year 8nded 31 March 2024 The Trustees, who are directors for the purposes of company law, presenl the annual report togelher with the financial statements and auditors, report ol the charitable company for the year ended 31 March 2024. The Annual Report serves Ihe purposes of boih a Trusiees, report and a directors, report under company law. The Trustees confirm Ihal the Annual Report and financial stalemenls ol the charilable company comply wilh thè current Slalulory requirem8nls, the requirements of the charitable company's governing document and the provisions ol the Statement of Recommended Practice ISORP) applicable to charities preparing Iheir accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland {FRS1021 (elleciive 1 January 2019). Since the Charity qualifies as small under section 382 01 the Companies Acl 2006, Ihe Strategic Report required ol medium and large companies under the Companies Act 2006 {Slralegic Report and Directors, Report) Regulations 2013 has been omiiied. Objectlvas and actlvllles a. Pollc108 and oblocllve8 In setting oblectlves and plannino lor activiti8S, Ihe Trustees have glven due conslderation to general guldance published by the Charliy Commlssion relaling to public benelit, including the guidance 'Public benelit., njnning a charity IPB2)'. The Trustees eonflrm that th9y have compli8d wllh the requlrements ol section 4 of the Charities Acl 201110 have due regard lo the public benefll guldanc8 published by the Charity Commission for England and Wales. b. Actlvltl@$ undortak8n to achl8ve oblectlve• The company's objects and principal activities are:. The financial support of the care and servlces provided and controlled by the Countess of Brecknock Hospice in Andover logeihgr with financial support ol the running costs., The relief ol paiienis suffering from life-limiling illnesses who reside in the area ol bénefit or who have a real and substantial conneclion with the area ol benefit or those who are receiving treatment or care at hospilalslhospices or homes in area ol b8nefil', and ancillary to such relief the protection and preseTvation of the health ot their families, friends and helpers., The provlslon of medScal and, in the inieresls of social w8lfare, recreational and other lacilllles lincluding buildings and equipment) lor such patients., The reliel in cases ol financial distress of such patienis and their families, friends and helpers,, The provision or funding of Iralning lor medical staff and others {including volunleersl relating io the treatment or care of such patSents', And generally Ihe supwrt of Ihe charitable work ol The Countess of Brecknock Hospice. Area of benefit is defined as Andover, Ludgershall, Stockbridge, Sutton Scotney, Whiichurch and surrounding villages. The aclivilies lor Ihe year focus on raising the funds lo financially 5UPPOrt the hospice facilities and services at the Countess of Brecknock Hospice in Andover. Our objects for 2023-24 were: Secure our ongoing linancial commitments to supporting the hospice. Provide additional resources for the hospice e.g. Day Care and be in a financial position to offer support for new initiatives andlor services. Page 3
Countess 01 Brecknock Hosplc8 Trust (A Company Llmited by Guaraniee) Truslees, Report (continued) For th8 year ended 31 March 2024 Objectlves and aclivllles (contlnued) Build reserves so w8 can conlribule to future upgradinglrenewing the building, fabric and furnishing when and if requlred. Keep our Charitable injst costs io a minimum but, ai the same lime, ensur8 we make sulficieni investment to maximise our income generation FX)ienlial and meet legal requirements and best practice guidelines. Review and reslruclure staffing resources to meet charity needs. Aulomaie and streamllne CRM and flnance procedures so we can focus on supporter needs and experience. Produce, review and update policies and procedures to meet Charily Commission best practice guidelines. Improve communicatlons and marketing Includlng greater use of dlgllal. Great8r Involvem8ni and use of Truste8s' skllls lo support these oblectlV8S, c. Longer Torm Alms The demands lor the hospice services are growing in our area of benefit and NHS budgeis are squ8ezed to the limit. The Board ol Trustees is aware that further financial support lor the hospice will be required10 meet Ih8se demands. The current four-year strateg1¢ plan {2021- 20241 ended on 31 March 2024. The Board Is undertaking a revlew ol the Slrategy and objectives which will feed into th6 new 2024 2027 plan. A key focus will be the growth of fundraising particularly sustalnable income and maxSmising return on invesimenls, The siaft and Truslees wlll work logelher to draft and finalise the new slraleglc plan for 2024 2027. d. Volunleers For almost 35 years, volunteers have been at the heart ol the hospice and charlty. In fact, it was thanks to a volunte8r thai ihe original hospice was built In Andover. Keeping services and activities runnlng lakes a team etlort. Volunteers provide that 8Xtra mile of support, ellort and care alongside staff, taking on roles within Ihe hospice, wlth Day Centre cllents and charity events and aclivilies. Our many volunteers donate over 3,250 hours of tlme each year. We are so grateful lor the commilmeni and time that they give, whether in Ihe hospice or for the charity. Their support makes such a difference lo our patl8nts, their families and staff. Page 4
Counless 01 Brecknock Hospice Trust (A Company Limited by Guarantee) Trustees, Report (continued) For th8 year ended 31 March 2024 A¢hlevements and performance a. Maln achlev8ments of the Charity The Charity exceeded Ihe income target accepted by the Trustees in April 2023 and costs were less than budgeled. We saw increases In fundraiser sponsorship, corporale and digital fundraising and a significant increase in Friends ot the Hospice income which reflects the work in these areas. The Charily has provided significant financial support lor running cosls and the d8velopmenl and enhancem8ni ol seNices provided by the Hospice lo adulls with lile-limiling illness who live in our afea ol benefit. As well as the annual grant for running costs, th8 charitable trust also funded the Hospice al Home overnight on-call and call-out servic8', an additional Communiiy Palliative Care nurse., the Day Centre activities programme including massagelbeauly Iherapisl and a music therapist,. Slalf training and psychologist support., palienl and Sialf wellar8; specialist equipm8ni', relurbishmenvreplacemeni ol fixtures and fillings., and maintenance or servicing contracts as required. Trust88 skills have b8en maximised with the Introduction of 'llnk' Irustoes for both charity and hospice areas of interest. A number of sub-committees have also been creaied lo look ai specific subjects. The 2023-24 objects have been achieved and the charitable trusl Is now on a Ilrm loollng lo move loNard wilh the development ol a new and ambilious slralegic plan lor the next lour years, b. Revlow of actlvlll88 Our locus Is on growing Income Sireams supported by awareness ralslng through communlcallons and markelino. Alongsid8 the events programme and fundraising initiatives organised by lh8 charily slall, thgy also encourage and support a wide rang8 01 community lundraising through individuals, community groups and ¢ompanies10 ensur8 ther8 is a consiant incom8 Stream. The Board and Charlty Dlreclor are working lo develop susiainable fundralslng through the Frlgnds ol the Hospice initialive and a new reslricied 'Forever Fund, which wlll support the running costs grant. Invesimenl In, and the promotion ol, digital giving, gilts Sn memory and legacy fundraising have seen a significant uplill in these income streams. There were no specSal prolecis undertaken by Ihe charity during the year 1 April 2023 to 31 March 2024. c. Fundr8181ng actlvltle8, Income gonarallon and PR a¢tlvltle8 Events and activities organised by the Charity this year Included: 10@10 Late Nlght Walk The 2023 10@10 Walk look place on Saturday 24 June 2023. Supported by Harrow Way School, Stitch a Logo and a number of k)cal supermarkels, 110 walkers look part and raised £29,787 in sponsorship. Craft Market We held our Christmas Craft Marf<et on 18 November. 11 was well publicised and well attended. As well as Trust goods, a raflle and relreshments, we had external craft stalls and Santa's grotto. The event raised £3,973 net and has become an annual event in the calendar. Light Up A Life The 2023 LUAL dedication took place on Thursday 7th December ai Andover Baptist Church. It was well attended and Test Vally Brass and Andover Ladies Choir supported the event. Mince pies were all donated by local supem)arkets. £10,124 was raised from light dgdications. Other Activitles New events such as the Quiz Nighl and Rudolph Run were successfully trialled. The support of community Page 5
Countess Of Brecknock Hospice Trust (A Company Llmited by Guaraniee) Trustees, Report (continuèd) For the year 8nded 31 March 2024 Achievements and performance (continued) fundraising by individuals, groups and organisations has improved with the input of the Events and Community Fundraiser. Eastar Rafll The annual Easter Raffle with prizes of £500, £300 and £150 was malled to our supporters at the beginning of February. Ticket sales raised £16,148, Door Drop The door drop weni oui as planned in Ociober 2023 and also included the Christmas Card leaflet and Christmas events. In addition, the mailing was sent lo all 'out ol area, supporters on our dalabase. The appeal raised a nel Income 01 £38,191. Frlends ol the Hosplce Friends make a regular monthly or annual gilt to support the Hospice. We now have 216 Frlends conlribuling almost £33,000 a year. W8 are so apprecialivg ol this special group ol supporters as regular gitis help us lo plan our budget. Reiall W8 have developed our glll and greellng card ranges. These have proved popular at our events and online and bring in a regular Income. We oonlinue10 look at how we promote and sell our retail ranges especially as shop outlets are not an option for such a small organlsation. Coln8 for the Count888 Coins for the Countess encourages people to save 5p colns In a small lar. We have raised over £13,750 since we launched the scheme. That's 275,000 5p coinsl We are now providing larger jars on request especially for our corporate supporters. Dlgltal We hav8 invested in digital collecting plates whlch we can also take10 events and Sum Up, POS hardware and sollware. We are promoting QR Codes and lexi giving. These initiatives have made glving easler and Improved sys18ms. In particular, th8 dlgilal collecting plates have sionilicanlly improved digital giving. Communlcatlons An email newsletter is senl lo 2,856 contacts on a monthly basls. Soclal media is used lo promote events and stories. Our w8bsi18 has good funciionalily and is a good income source. We have recognised that with investment in Ihis area, w6 Can develop our communications lo have greater Impaci and support our activilies. A new Head of People Engagement will start on 2nd Aprll. d. Publlc Beneflt The objeciives of th8 Charity are lo support the palliative and end.of-lile care servlces offered by Ihe Countess of Brecknock Hospice by providing a considerable financial contribution towards the general running cosls of the Hospice and to improve and enhance Ihe facilities at the Hospice for the benefii ol patients sullering from cancer and other serious illnesses who reside in Andover, Ludgershall, Stockbridge, Sullon Scoiney, Whiichurch and surrounding villages or who have a real and substantial connection with Ihe area of benefit or who are receiving treatment or care in the area of benefit and, ancillary to such relief, to give significant SUPPOrt to the families, friends and carers ol our patienls, Funds were also used for the provision of medical and, In the interests of social welfare, recreational and other facilities (including buildings and equipment} lor the benefit ol our patients and for the provision of training for medical staff and others (including volunteers) relating to the treatment or care of palients. Page 6
Countess 01 Brecknock Hospice Trust (A Company Llmited by Guarantee) Trustee8' Report (contlnufrd) For Ihe year ended 31 March 2024 Financial revlew . Golng concern The Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational 6xislence lor the foreseeable lulur8. For this reason, they continue to adopt the going concern basis in preparing ihe financial Siatements. Further details regarding the adoption of the going concern basis can b8 found in the accounting policies. b. Re88N88 pollcy Free r8seN8s are calculated on the basis ol Ihe excess of unrestricted funds, excluding designated funds, over fixed assets, Including investments held as fixed assets, whlch are used to generate income lor the Charity's charitable aciivilies. The reserves Ihal the Board of Trusie88 hav8 sel aside provlde financlal siabillly and Ihe means for lh8 development of the principal activity which is the support ot the hosplce malnly in the form of grants to Hampshire Hospitals Foundation Trusl IHHFT). Trusle8s Intend to maintain reserves al a level which Is equivalent lo al leasl two years, granl to HHFT (Including support ol Day Carel and one year's Charlly running costs. Trustees al30 Inlend to malntain additional reserves to cover replacement ot equlpm8nl which falls outside the remit ol HHFT. For example.. speclalisl medical equipment, 'cuddle beds, and higher speclllcallon pati&nt welfare Items required lor palliallve ¢ar8, such as motorised recliners, disability bath and ceiling hoists, The Board reviews the level of reserves that are required to ensure that they are adequate to fulfil their contlnulng obligations at thelr quarterly meetings. On this basis the fr88 reservas ai 31 March 2024 amount lo £1,398,170. This represents 2 times curr8nt annual expendilure. c. Materlal Investmènts pollcy The Board of Trustees may make any investmgnis In any manner subject 10 obtaining advlce Irom a flnancial expert and having regard to the suilability of investments and the need for diversification. The investment policy of the company Is reviewed annually. The Board of Trustees has obtained expert advlce from Rathbones, siockbrokers (Winchester office). The unr8slricled funds requirad to support the long-term commitmenls of Ihe charity are invested for incoma and capital growth. For the year ended 31 March 2024 Stock Exchange Investments provided an income of £20,767, investments into Investment Funds provided an income of £21,918 and liquidity provided an income of £959 making an overall return on all inv8slmenls of 3.5 % {2023'. 3.20/.). 11 should be noted that the income achieved by the Inveslmenl Funds is reflected in the increased capital value of those investments as very liltle income is distributed. d. Key performance Indicators The key performance indicators are income largel, control of expenditure, monitoring financial activity and investment growth, outcomes of marketing and communications activily. Staff have key performance indicators relaled to their area of responsibility which are reviewed monthly by the Chariiy Director. Page 7
Countess 01 Brecknock Hospice Twsl (A Company Limitod by Guarante8) Trustees. Report {¢ontinu8d) For the year ended 31 March 2024 e. Prlnclpal funding The Charity is dependent on donations for its income which is supplementéd by legacies. The Charity raises funds through events, appeals and trading activities. In addition, the Charity has an income Irom invesimenis and cash deposlts. Donations amounted to a total 01 £476,772 01 which £1,200 was into restricted funds for Ihe year to 31 March 2024, The Charity was also in recelpi ol legacies which amounted lo a tolal of £215,435 all ol which was placed into unrestricted funds for the year10 31 March 2024. The Charity received £57,306 from investments in the year under review ol which £nil was placed into restricted funds. The Charity achieved net realised and unrealised gainsllosses from Stock Exchange Investments amounting to a gain of £14,039 lor the year under review. New Bulldlng Upkeèp Fund Expendilure durlng the year was £23,761. The remaining designated lunds amounl 10 £67,727. Rèstrlcled Funds Th8 reslricted funds and th8ir defined uses are shown In delall In note 19 to Ihe Financial siatem8nlS. l. Overvlew The Charity has achleved Its obleclives In the year. The gross incomlng resources In the year were £849,949 01 which £1,200 was into reslricied funds. These were used io pay the administration and lundralslno expenses of the Charily, together with the agreed Hospice support grant and other granls totalling £699,085 01 whlch £1 ,295 was from resiricled funds. Th8 gain resulting 01 £150,864 and the gains on investments totalling £14,039 produced a nel gain 01 £164,903 to be added to existing funds leaving a balanc8 on unreslricied lunds carried forward of £1,871,757, of whlch £67,727 ar8 designated tunds, and a balance on re81ricled funds carried forward of £8,431 at 31 March 2024. g. Cash Flow: A$$èt8 and Llabllltlès Th8 grant lo HHFT is in the gift ol the Trustees. The Trustees agree the grant for the next financial year ai thelr Autumn meeting i.e. the grant for the 2024-25 linancial year was agreed at the November 2023 meeting. HHFT is then notified of the level ol the grant In writing following ihis meeiing, The grant is paid in lour quarterly Instalments. The Trustees have also agreed granis io HHFT 10 fund an additional community palliative care nurse and the overnight Hospice at Home service. Page 8
Counless Of Brecknock Hosplce Trust {A Company Limited by Guarantee) Trustees, Report (continued) For Ihe year ended 31 March 2024 Structure, governane8 and management a. Constitutlon The organisalion is a charitable company limiled by guarantee, Incorporaled on 16th December 1997 and regislered as a charily in January 1998. The company was eslablished under a Mgmorandum ol Associalion which established the objects and powers of Ihe charitable company and is governed under its Articles of Association. In Iha event of the company being wound up members are required lo contribute an amounl not exceeding £1.00. b. Recrultmonl and appolnlment ol trustees The Direciors ol the Company are also Charity Trustees for th8 purposes of charity law and under the Company's Articles are known as members ol the Board of Trustees. Under the requirements ol Ihe Memorandum and Articles ol Association, the members ol the Board of Trustees are elected by the members ai the Annual General Meeting. The Company musl have al least three Charity Trustees and a maximum ol len, all ot whom musl be members ol the Company. One third ol the Trustees, together with any new Trustee sinc8 the last Annual General Meeling, musl retire ai each Annual General Meeting, those longesi in ollice retiring first and the choice beiween any equal service being made by drawing lois. All Truslees are members ol the Charity. The Board of Trust88S Seeks 10 ensure that the diversily and needs of our beneliclaries are relleded Ihrough th8 Trustee body. When vacancies occur, the Tnjstees seek to appolnt new Tfustees wilh skills in admlnlstraiion, flnanc8, legal mallers, hospilallhospice management and fundralsing. The morg traditional business and fundraising skills are well represented on the Board of Trusleès. 11 skills are lost due lo retirements, individuals with appropriate skills ar8 approached 10 ofler Ihemselves lor election 10 lh8 Board ol Trustees to mainlain this skill mix. A 'Recruilmenl ol Trustees, policy and procedure has been adopted by the Board. c. Organlsallonal slructure and de¢lslon.maklng poll¢l8$ The Board of Trustees meets quarterly, and when deemed n8c8ssary, and Is r8sponslble for the strategic direction and policy of the Charity. Al present, Ihe Board ol Tnjstees has eight members from a variety of professional backgrounds relevan110 the work of th8 Charity. The Chair of Truslees, Mrs Clare Scheckter, works wilh Ihe Charity Dlrector, Mrs Michele Gard. Mrs Gard is delegated the day to day running ol the Charlty, acts as Company Secretary and Is responsible lor income generation. Mrs Gard Is supported by Iwo full.time staft. d. Pollcles adopted for the Inductlon and tralnlng of Trustees New Trust88s attend a session to familiarise themselves with the Charity and the context within which il operates. These are joinlly led by the Chair ol Ihe Board of Trustees and the Charity Director. The session covers.. the obligations of th8 members of the Board of Trustees, the main documents which sei out the operational framework for the charity, including the Memorandum and Articles of Association, resourcing and the current financial position as set out in the lalesi published accounls, fulure plans and objectives, and a briefing on current activilies and fundraising. A copy ol Ihe 'Becoming a Truslee ol the Countess of Brecknock Hospice Trust, as a follow up to this session is distributed to all new Trustees along with supporting documents including the Memorandum and Articles ol Association and latest financial slatemenls. Page 9
Countess Of Brecknoek Hosplce Trusl (A Company Llmiled by Guarantèo) Trusl8è8' Report (contlnued) For the year ended 31 March 2024 siruclure, governance and management (contlnued) e. Remunerallon of Stall The remuneration of staff is reviewed on an annual basls by Ihe Chair in consultation with Trustees. RemLJneration is bench-marked against comparative roles, similar organisaiions, performance and reviewslappraisal. f. Related party relatlonshlps The Charity provides most of Its grant funding to HHFT io assisl in the funding of th8 Countess ol Brecknock Hospice based in Andover. Th8 Charity works in close liaison wilh Ihe healthcare trust lo ensure the ¢onlinuin9 Improvement in palliative care services and facllities. g. Flnanclal rlsk management Th8 Board of Trustees has conducted a r8view of tha major risks to whlch the Charlly Is exposed. A risk register has been established and is updated annually. Where appropriaia, systems or procedures have been implemented to miligaie th8 risks the Charity laces. Signiflcanl external rlsks to funding have led to the development ol a strategic plan which will allow for th8 continued support of the Hospice and lis activities. Internal control risks are minSmised by the implemenialion of procedures lor the authorisation ol all transactions and projects. Procedures are in place lo ensure compliance with health and safely of stall and visilors lo the Charlty Offlce. These procedur8s are periodically reviewed to ensure thai they Gonlinue to meet the needs ot the Chaniy. h. Truslees, Indemnltl88 All Trustees have been insured by the Countess ol Brecknock Hospice Trust in respeci ol any losses, oth8r than Iraud and dishonesty, arising from any claims made against tham by reason ol Iheir services as Tnjsiees. Member8, Ilablllty The Members ol the Charily guaran188 to contribute an amount noi exceeding £1 to th8 assets ol the Charity in the event ol winding up. Fund-Ralslng Standards Information The Countess ol Brecknock Hospice Trust raises funds from members of the public by organising a programme of events and activities and via individuals, organisations, community groups and companies who lundraise on our Leham. We comply with legal requirements and adhere to the Chartered Inslitule of Fundraising Code of Praclice and guideline. We have also adopted the Chartered Inslilute of Fundraising Treaiing Donors Fairly Fundraising wilh People in Vulnerable Circumstances. We do not employ any third parties to fundraise on our behatl and have not received any complainls in relation io our tundraising aclivilies. We record information on our database to record activities and donations and are fully compliant wilh GDPR requirements. Contact preferences are recorded and, apart from our annual door drop where il is not possible to exclude addresses, contacl is only made to those who wish lo hear from us. We provide informalion on safe and legal fundraising io those individuals, groups and companies thal we know are lundraising for us. These aclivilies are reviewed and monilored by Ihe Charily Director and individuals supported and advised where appropriate. Page 10
Countess Of Brecknock Hospice Trust (A Company Limited by Guarantee) Trustees, Rèport (eontlnued) For Ihe year ended 31 March 2024 siaiemeni ol Trustees. responsibilitles The Trustees (who are also the dir8Ctors ol the Charity for the purposes of company law} are responsible for preparing the Trustees, Report and the linancial staiemenls in accordance with applicable law and United Kingdom Accounting Standards Iuniied Kingdom Generally Accepied Accounting PractiC8). Company law requires the Trustees to prepare financial statements lor each financlal year. Under company law, the Trustees musl not approve Ihe financial slalemenls unless Ihey are satisfied Ihal Ihey give a true and lair view ol Ihe stale ol aflairs of the Charity and of Its Incoming r8sour¢es and application of resources, includino ils Income and expendilure, lor Ihal period. In preparing these Ilnancial stalemenls, the Trustees are required lo: select suitable accounting policies and then apply them consistently,, observe the melhods and principles ol the Charities SORP IFRS 102)., make judgments and accounting estimates that are reasonable and pnJdenl', Sla18 whether applicable UK Accounting Standards IFRS 102) have been followed. subject to any maierlal departures disclosed and explained in the financial Slalemenls., prepare the flnancial staiements on Ihe golng concern basis unless il Is Inapproprlate to presume that Ihe Charily will continue in business. Th8 Trusle8s are responslbl8 for keeping adequate accountlng records that are sullicient lo show and explaln the Charlty's Iransacllons and disclose wlth reasonable accuracy al any lime the financial position ol the Charity and enab18 them to ensure that the financial statements comply with the Companies Acl 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for th8 prevention and detection ol fraud and other Irregulari118S. Dl8c108ure of Informallon to audltors Each ol the persons who are Twsiees at the time when thls Trusi88s' Report Is approved has confirmed that.. so far as thai Trustee is aware, there Is no relevant audit Inlormation ol which the charity's auditors are unaware, and Ihat Truslee has laken all Ihe steps ihat ought io have been taken as a Trustee In order lo b8 aware ol any relevant audit Information and to eslabllsh Ihat the charity's audiiors are aware ol that inlormatlon. Audltors The audilors, Xelnadin Audit Limited, have Indicated thelr wllllngness lo continue In office. The designated Trustees will propose a motion reappoinllng the auditors ai a meeting of the Trus18es, Approved by o der of the members ol the board of Truslees and signed on their behalf by.. eckier Trustee Dale.. 141 IOlzts24 Page11
Counte88 Of Brecknock Hosplce Trust (A Company Llmited by Guaranloe) Independent Audltors, Report lo the Members ol Countess Of Breeknock Hosplce Trusl Oplnion We have audited the tlnancial slalemenls of Counless 01 Brecknock Hospice Trust Ilhe 'charitable ¢ompanV) lor the year ended 31 March 2024 which comprise ihe siaiemenl of Financial Activities, the Income and Expenditure Account, the Balance Sheat, the Slalement ol Cash Flows and Ihe related notes, including a summary of significant accounting policies. The financial reporting tramework Ihal has been applied in their preparation is applicable law and Uniled Kingdom Accounling Slandards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in th8 UK and Republic of Ireland, (Uniied Kingdom Generally Accepted Accounting Practice). In our opinion the financial stat8ments'. give a true and fair view of the slate of the charitable company's allalrs as at 31 March 2024 and of its incomlng resources and application of resources, including lis income and expenditure for Ihe year then ended., have been properly prepared in accordance wlth United Kingdom Generally Accepted Accounting Pracllce; and have been prepared in accordance wlth the requlrements ol the Charities Act 2011. 8asls lor oplnlon We conducted our audlt In accordanc8 wSth Inlernatlonal Standards on Auditing IUK) IISAS IUK>I and applicable law. Our responsibilities under those standards are lurther described in the Auditors, responsibililies for Ihe audil of the financial statements section of our report. We ar8 Independ8nl ol the charitable company In accordance with Ihe ethical requiremenls Ihal are relevant to our audit of Ihe Ilnanclal statements in Ihe Uni18d Kingdom, Including the Financial Reporting Council's Ethical Standard, and we have lullilled our other ethical responsibililies in accordance with these requirements W8 believ8 that the audit evid8nc8 we have obtained is sufliGient and appropriate to provSde a basis lor our opinion. Concluslon8 rnlatlng to golng eoncern In audlllng the financial staiements, we have concluded that the Trustees, use of the going concern basls of accounting in the preparation of the financlal siaiemenis Is approprfate. Based on th8 work we have performed, we have not idenlified any material uncertalntles relating io events or condilions that, individually or colleclively, may cast significant doubt on the charilable company's ability to continue as a going concern for a period of at least Iwelve months from when the financlal statements are authorised for issue. Our responsibilities and the responsibilitles of the Trustees with respect to going concern are described Sn the relevani sections ol this report. Other Infomiallon The Other information comprises the informaiion included in the Annual Report other than th8 financial slatemenls and our Auditors, Report Ihereon. Th8 Truslees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, excepl lo the extent otherwise explicilly stated in our report, we do noi express any form ol assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inGonsistent wilh the financial stalements or our knowledge obtained in the course of Ihe audit, or olherwise appears lo be malerially misstated. If we identify such matenal inconsislencies or apparent material misstatements, we are required to delermine whether this gives rise to a material misslalemenl in the financial slatemenls themselves. If, based on the work we have pertomied, we conclude that Ihere is a material misstatement of this other intormation, we are required to report that lacl. Page 12
Counte8s Of Brecknock Hospice Trust (A Company Llmited by Guarantee) Indep8ndent Audllors, Report to the Members of Countess Of Bre¢knock Hospic8 Trust Iconllnued) We have nothing lo report in this regard. Matters on whlch w8 arè requlred to report by exc8pllon We have nothing to r8PQrt in r8sped of the following matters where the Charities IA¢counls and Reports) Regulations 2008 requires us to report lo you if, in our opinion.. the information given in ihe Trustees, Report is inconsislent in any material respect with the financial Slalemenls; or sufficient accounting records have not been kepl., or thg financial slatemenls are not in agreement wilh the accounling records and returns., or we have nol received all the information and explanations we require for our audit. Re8pon81bllltio8 ol tru8t608 As explained more fully In the Trusle8s' Responslbllities Statemeni, the Trustees (who ar8 also the direciors of the charilable company for the purposes ol company law} are responsible for the preparation of th8 financial slatemenls and for belng satisfied Ihal they oiv8 a true and fair view, and lor suGh internal conlrol as Ilie Trustees deiermlng Is necessary to enabl8 the preparation of flnancial statements that are free from material missiaiement, wh8ther due to fraud or error. In preparing the flnanclal slalements, the Trustees are responsible for assessing the charitable company's ability lo continue as a going concern, disclosing, as applicable, mallers related lo golng concern and using th going concern basls ol accounllng unless the Trusl88s either intend to liquidate th6 charitable company or to cease operations, or have no realistic allernaiive but to do so. Audllors, re8pon8lbllltl88 lor Iho audll of the flnancl8181at8m8nt8 We have been appolnted as auditor under secllon 145 01 Ihe Charities Act 2011 and report in accordance with the Act and relevanl regulations made or having affect Ihereunder. Our objectives are io obtain reasonable assurance about whether the financial statements as a whole are free from material mlsstalemenl, whelher due lo Iraud or error, and to issue an Auditors, Report Ihal includes our opinion. Reasonable assurance is a high level ol assurance, bul is not a guarantee Ihal an audit conducted in accordance wilh ISAS (UK) will always detect a material missiatemenl when it exists. Misstatements can arise from fraud or error and are Considered mat8rial if, individually or in the aggregatg, they could reasonably be expected io influence the economic decisions ot users taken on the basls ol Iliese linancial slalements. Irrogularities, Including fraud, are instances of non.complianc6 With laws and regulalions. We design procedures in line with our responsibilities, outlined above, to deleci material misstalemenls in respect of irregularities, including fraud. The exlenl to which our procedures are capable of detecting irregularities, including fraud is detailed below.. We identified areas of laws and fegulalions that could reasonably be expected to have a malerlal eflecl on the financial statements from our section experiences and through discussion with those charged with governance (as required by audiling standards). We communicated identified laws and regulations Ihroughout our leam and remained alert to any indications of non-compliance throughout the audit. The company is subjeci to laws and regulalions thai directly affect the financial statemenls including financial reporting legislalion, Charilies SORP and The Charities Act. We assessed Ihe extent of compliance with these laws and regulaiions as part of our procedures on the related financial statemenl items. We identified the following areas as areas that could bo most susceptible to fraud or irregularit18s'. use of funds, designation of restricted funds and the recording of cash donaiions. Page 13
Countess Of Brecknock Hosplce Trusi (A Company Limited by Guaranlee) Independent Audltors. Report lo the Members ol Counte$3 01 Br8cknock Hospic8 Trust {eonlinuod) Audlt response to rlsks identilied.. Our procedures to respond to risks identified included the following.. rgviewing financial statement disclosures and testing to support documentation to assess compliance with provisions ol relevant laws and regulations described as having a direct effect on th8 financial stalemenis, enquiring ol management concerning actual and polenlial liligalion and claims., performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of malerial missialemenl du8 lo fraud., reading minutes from Trustee meeings and revlewing correspondence with HMRC and the Charili8s commission., in addressing the risk of fraud Ihrough manag8ment override of controls, testlng the appropriateness of journal entries and other adjustments,. assesslng whelher the judgements made in making accounllng eslimales ar8 indicallve ol a potential bias, and evaluating the raliona18 01 any signilicanl transactions that are unusual or outside th8 normal course ol business. The audit procedures undertaken did not Idenllfy any aclual fraud or irr8gularilies. Owing lo Ihe Inherenl Ilmitations of an audit, there is an unavoidable risk that wa may not have delecl80 some material misstatements in the financial stal8menlS, even though we have properly planned and performed our audil In accordance with audiling standards. For example, Ihe further rémoved non-compliance laws and r8gulalions lirregularilies), is from the events and transactions rellected In the linancial sla18menls, the less 1Skely th8 inherently limited procedures required by auditing slandards would identify it. We are not responsibl8 for preventing non-compliance and cannot b8 expecl8d10 detect non-compllance wlth laws and regulations. A turther description of our responsibilities tor the audit of Ihe financial stai8menlS is locat8d on the Flnanclal Reporting Councll's website al, This description forms part of our Auditors, Report. Use of our report This report is made solely to the charftabl8 company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audil work has been undertaken so that we might stale to the charitable company's trustees thos8 malters we ar8 required to state to them in an Auditors, Report and for no other purpose. To the lull8sI exteni permitted by law, we do not accepi or assume responsibility to anyone other than the charilable company and its members, as a body, for our audit work, lor Ihis report, or for the opinions we have formed. Jacquellne Taylor FCCA (lor and on behalf ol Xeinadln Audit Ilmiied) Chartered Accountanls Statutory Auditor 8th Floor Becket House 36 Old Jewry London EC2R 8DD Dale.. Xeinadin Audit Limited are eligiblg to act as auditors in terms ol section 1212 of the Companies Act 2006. Page 14
Countess Of Brecknock Hospice Trusi (A Company Limited by Guarantee) Slat8ment of flnanclal actlvlti88 For the year ended 31 March 2024 Restrlcted Unrestrlcted fund8 lunds 2024 2024 Total fund8 2024 Total funds 2023 Nole Income from: Donations and legacles Retail income Invesimenls 1,200 781,915 9,528 57,306 783,115 9,528 57,306 562,111 13,497 44,565 Total Income 1,200 848,749 849,949 620,173 Expendlture on: Raising funds Charitable activities 110,777 587,013 110,777 588,308 90,535 722,813 1,2gs Total exp8ndltur8 1,295 697,790 699,085 813,348 Nel (8xp8ndlture)Ilncomo b8fore nat galnslllos8e8) on Inve8tm8nt8 Net gainsl{losses) on investments (95) 150,959 14,039 150,864 14,039 (193,175) 152,258) Nei mov&m8nt In fund8 (95} 164,998 164,903 (245,433) R8conclllatlon of fund8: Total funds brought forward Net movemenl in funds 8,528 <95) 1,706,759 164,998 1,715,285 164,903 1,960, 718 (245,433) Total fund8 carrled forward 8,431 1,871,757 1,880,188 1,715,285 The Sta18menl of Financlal Activltles includes all gains and losses recognlsed In Ihe year, The notes on pages 2010 38 form part of these financial statements. Page 15
Countess Of Brecknock Hospic8 Trust (A Company Llmited by Guarantee) Summary Income and Expenditure Account For the year ended 31 March 2024 Total funds 2024 Total funds 2023 Note Income {Losses}Igains on investments 849,949 14,039 620,173 152,258) Gross Income In the r8portlng perlod Less: Total expendilure 863,988 (699,085) 567,915 (813,348) Nol Ineomel(&xpendlture) for the reportlng perlod 164,903 (245,433) The noies on pages 2010 38 form part of these financial siaiements. Pago16
Countess Of Brecknock Hospice Trust (A Company Limited by Guarantee) Register8d numbor: 03481737 Balance Sheet AS at 31 March 2024 2024 2023 Note Flxed asset8 Tangible assels Investmenls 12 13 1,223,237 1,236, 790 1,223,242 1,236, 796 Current as$el8 siocks Deblors Cash ai bank and In hand 14 15 4,159 5,340 1,142,741 2, 635 6,561 998, 721 1,152,240 1,007,317 Credltors.. amounts falllng due wilhln one year 16 (495,294) (528,828) N81 curr8nt assets 656,946 478,489 Total a88et8 le88 Current Ilabllltleg 1,880,188 1,715,285 Tolal net a88el8 1,880,188 1, 715,285 Charlty fund8 Resiricied funds Unresiricled funds 18 18 8,431 1,871,757 8,526 1, 706, 759 Total fund8 1,880,188 1, 715,285 The entity was entitled to exemption from audlt und8r secllon 477 01 Ihe Companies Act 2006. The members have not required the enlity to obtain an audit lor the year In question In accordance with section 476 01 the Companies Act 2006. However, an audit is required in accordance wilh seclion 145 of the Charilies Act 2011. The Trustees acknowledge Iheir responsibilities lor complying with the requirements of the Acl with respeci to accounling records and preparation ol financial statements. The financial statements have been prepared in accordance with the provisions applicable lo enlities subject to Ihe small companies regime. The financial stalemenis were approved and authorised for issue by the Trustees and signed on their behalf by.. Page17
Counless Of Brecknock Hospice Trust (A Company Llmited by Guarant8e) Règistered number: 03481737 Balance Sheet (continued) As at 31 March 2024 ac Trusl&e Dale.. x41 iolia The notes on pages 2010 38 form part ol these flnancial Slalements. Page 18
Countess Of Brecknock Hospice Trust (A Company Llmlled by Guarantee) Slatement of Cash Flows For the year andèd 31 March 2024 2024 2023 Cash Ilows from operaling activitle8 Net cash flow from operating aGlivilios 117,028 (77,671) Cash flows Irom Invo8llng a¢tlvltle8 Purchase ol investments Disposal ol investments (9,227) 36,819 (87,288) 87,350 Not cash provldod by Invastlng 8Ctlvltlo8 27,592 62 Change In ca8h and cash equlvalents In tha year Cash and cash equivalents at th8 beglnnlng ol Ihe year 144,620 (77,609) 1,075,730 998,121 C88h and c88h 8qulvalent8 at Ihe end of Iha year 1,142,741 998, 121 The notes on pages 20 to 38 form part of these financial statements Pa9e 19
Countess 01 Brecknock Hospice Trusi (A Company Limlted by Guarant88) Noles to the Flnanclal Statements For Ihe year ended 31 March 2024 Genéral informatlon The Charity is an individual private charity limiied by guaraniee incorporated in England and consequently does not have share capital, Each of the Trustees is liable to contribut8 an amount not exceeding £1 towards th8 assels ol the chaflty in Ihe event ol liquidation. The address ol ils registered office is.. 8recknock Hous8 Henry Gamman Drive Andover Hampshire SP10 3LB Accountlng poll¢l88 2.1 Ba819 of preparatlon ol Ilnanelal stalem8nls The financial sla16menlS have been prepared In accordance with Ihe Charltles SORP {FRS 102) Accounting and Reportino by Charities.. Statement of Recommended Practice applicable io charities preparing Iheir accounts in accordance with the Financial Reporiing Standard appllcable in the UK and Republic ol Ireland {FAS 102) lefleclive 1 January 2019}, the Financial Reporting standard applicable in the UK and Republic ol Ireland IFRS 102} and Ihe Companies Act 2006. Countess 01 Br8cknock Hosplce Trust meels the definition ol a public benefit enllty under FRS 102. Asseis and liabilities are initially recognised at historical cosi or transaction value unless otherwise staled In ihe relevani accounting policy. The financial slalements are prepared In sterling, which is the functional currency ol the Charity, monetary amounts in these financial siaiements are rounded to th8 near8SI £, 2.2 Incoma All income is r8cognised once the Charily has entitlement to the Incoma, It Is probabl8 that the Income wlll b8 receiv8d and Ilie amount ol income receivable can be measured reliably. Don8tlon8 and legacles Donations and gilts are recognised where there Is entitlement, probability ol recelpt and the amount can be m8asured wilh suflicienl reliability. Income received for the general purposes ol the Charity Is included as unreslricted funds. Income lor aclivities restricted by the wishes of the donor is taken to restricted funds where these are legally binding on the Iruslees, For legacies, entitlemenl Is taken on a case by case basis as the earlier of the dale on which.. the Charity is aware Ihal probaie has been granted, Ihe esiaie has been linalised and notification has been made by the executor(s) lo the Charily that a disinbution will be made, or when a distribution is received from the estate. Receipi ol a legacy, in whole or in part, is only consldered probable when the amount can be measured reliably and the Charily has been nolili8d of Ihe 8xeculor's inlenlion lo make a distribution. 11 the legacy is in Ihe form of an asset other than cash or an assei listed on a recognised stock exchange, recognition is subject to the value ol the asset being able lo be reliably measured and tille to the asset has passed lo the Charity. Where legacies have been nolilied to Ihe Charity or Ihe Charity is aware of the granling of probate, and the criteria for income recognition have nol been met, then the legacy is treated as a conlingenl asset and disclosed il material. Donated services and facilities are included ai the value to the Charity where this can be quanlified. The value of seNices provided by volunteers has not been included in these accounts. Donated servlces and facllllies Where services or lacilities are provided to the charity as a donation that would normally be Page 20
Countess Of Brecknock Hospice Trust (A Company Llmlted by Guarantee) Notes to th8 Flnanclal siatem8nts For Ihe year énd6d 31 March 2024 Accounting pollcles (conllnued) 2.2 Income (conllnued) purchased from our suppliers, this conlribulion is included in the financial statements al an estimate based on the valu8 ol the conlribulion to th8 charity where this can be quanlilied. Other tradlng actlvlt188 Incoming resources from charitable Iradlng aclivilles and fundraising aclivSlles are accounted lor when earned. Grants are included in the statement of Financial Aclivilies on a receivab18 basis. The balanc8 01 income recelved for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Wh8re income is received in advance ol entillemeni of receipt, its recognition Is deferred and included in Creditors as deferred income. Where enlitl8menl occurs before income is recelved, the Income is accrued. Inv8stmoni Income Investment incom8 is accounted lor on an accruals basls. 2.3 Expondllure Expenditure is r8cognis8d once Ih8re Is a legal or constructive obllgalion lo transfer economic benelit to a third party, it is probable that a Iransler ol economic benefits wlll be required In setllemenl and the amount of the obligation can be measured reliably. Expenditure is classiligd by aclivity. The cosls oi each acllvlly are made up of the lotal of dlrect costs and shared costs, including support costs Involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that aciivily. Shared costs which contribute to more than one activity and support COSIS which are not attribulable to a single activity ar8 apportloned between those activities on a basls consistent with the use ol resources, Central staff costs are allocated on the basis ol Ilme spent, and depr8cialion charges allocated on the portion of Ihe ass8t's use. Expenditure on raislng funds includes all expenditure Incurred by the Charily lo raise funds lor its charilabie purposes and includes costs ol all fundralslng actSvilles events and non-chariiable trading, Expenditure on charitable acllvilies Is Incurred on directly undertaklng th8 aclivllles which luriher the Charilys objectives, as well as any assoclated support costs. Grants payable are charged in the year when Ihe offer Is made except in Ihose cases where the offer Is conditional, such grants being recognised as expendllure when the condllions attaching are fulfilled. Grants offered subject to conditions whlch hav8 not been met al the year end are noted as a commitment, but not accrued as expenditure. Liabilities are recognised as soon as there is a legal or conslnjctive obligation committing the Charity lo the expenditure. All expendilure is accounted lor on an accruals basis and has been classified under the headings Ihat aggregale all costs related lo the calegory. The irrecoverable element ol V AT is included wilh the item of expense to which it relates. Raising lunds These are cosls incurred in attracting voluntary income. the management of inveslmenls and those incurred in Irading activilies that raise funds. Charilable actlvlties Charitable expendilure Gomprises those costs inGurred by Ihe charity in the clelivery of its activities and seNices for its beneficiaries. 11 includes both costs that can be allocated directly to such aclivilies and those costs of an indirecl nature necessary to support them. Page 21
Countess Of Brecknock Hosplce Trust (A Company Limited by Guarantee) Notes to the Financlal Statements For Ihe yèar endod 31 March 2024 Accountlng policleg Icontlnued) 2.3 Expendiiure (coniinued) Support eos18 Salary costs are allocated belween lh8 expenditure categories of the statement of tlnancial aclivities on a basis design io reflect the use ol stall resources. Costs relating to a particular activity are allocated dirgclly, others are apportioned on an approprlale basls. Govarnance cosls These include the costs attributable to the charily's compllance and slatutory requirements, including audit, slraiegic managemenl and Irust8e's meeiings and reimbursed expenses, 2.4 Interèst recelvabl8 Inieresl on funds held on deposit is Included when receivable and th8 amounl can b8 measured reliably by the Charity., this Is normally upon nolilication of the interest paid or payable by the Insiilulion wilh whom Ihe funds are deposited. 2.5 Tanglble flxed 8$$ots and depre¢latlon Tanglble fixed assets cosling £1000 or more are capitalised and recognised when luture 8conomlc benellls are probable and the cosi or value of the ass8t can be measured reliably. Tangible Ilxed assets are Inilially recognised ai cost. Aller recognition, under the cosi modal, lanoible fixed assets are measured al cost less accumulated depr8ciallon and any accumulated impairment 10ss8s. All cosls Incurred 10 bring a tangible lixed asset into Ils intended working condition should be included in lh8 measurement of cosl. Depreciatlon is charged so as io allocate the Cost of tangib18 fix8d assets less thelr resSduaS valu8 over their estimated useful lives, using the slraight-line method. Depreclation is provided on the following bashs.. Furnilure and equlpment 20.1. Straight line Computer equipmenl 330/0 Straight line 2,6 Inve81m8nl8 Fixed assel investments are includ8d at market value at the balance sheet date. The Statement of Financial Aclivilies includes the nei gains and losses arlsing on revaluaiion and dlsposals as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their markel value al the start ol the year, or their sljbsequenl cost. Unrealised gains and losses are calculated as the dillerence between the markel values al Ihe year end and th8ir carrying value. Realised and unrealised investment gains and losses are combined in the Stalemenl of Financial Activities. 2.7 Slocks Stocks are valued at the lower of cost and net realisable value. 2.8 Debtors Trade and other debtors are recognised at Ihe settlement amount aller any trade discouni offered. Prepayments are valued al the amount prepaid net of any trade discounts due. Page 22
Countess Of Brecknock Hospice Trust (A Company Limiled by Guaranlee) Notes to the Flnanclal Statements For the year ended 31 March 2024 Aceountlng policles (coniinued) 2.9 Cash at bank and In hand Cash ai bank and in hand includes cash and short.term highly liquid invesimenis with a short maturiiy of three monlhs or less from the dai8 ol acquisition or opening ol the deposit or similar account. 2.10 Llabilitles and provlslong Liabilities are recognlsed when there Is an obligation at Ihe Balanc8 Sheet dale as a resutt ol a pasi event, il is probable that a transfer of economic benefit will be required in settlemenl, and the amount of Ihe settlement can be estlmated reliably. Liabilitles are recognised ai the amounl thai ihg Charity antlcipates it wlll pay to settle the debt or the amounl it has received as advanced paymenis lor the goods or $8rvices It musl provlde. Provisions ar8 measured at the b881 estimate of tha amounts r8qulrad to settle the obligation. Where the ellect of the time value of money is malerial, Ihe provislon Is based on the present value of those amounts, discounied at the pr8.iax discount rale Ihat reflects the rlsks speclllc lo the Ilabilily, The unwinding ol the discount Is recognlsed in Ihe Slalemenl ol Financial Activities as a Ilnance cosl. 2.11 Flnanclal In8trum8nl8 Th8 Charity only has tlnanclal assets and Ilnanclal liabilllles of a kind Ihat qualify as basic financial instrumenls. Baslc linanclal Inslrumenls are Initially recognised at transaction value and subsequently measur8d ai Iheir seitlemenl value wilh the exception of bank loans which are subs8quenlly measur&d al amortlsed cost using the elleclive inter8si melhod. 2.12 Operatlng1888e8 Rentals pald under operating leas8s ar8 ehargecl to th8 Statement of Flnanclal Activitles on a slraighl line basis over the lease term, 2.13 Fund accountlng General funds are unrestricted funds which are available for use at Ihe discreiion ol the Trustees in furtherance of the general obleclives of the Charlty and which have nol been designated lor other purposes. Designated funds comprise unrestricted funds thal have been sel aside by the Trustees lor particular purposes. The aim and use of each designated fund is set oul in the notes lo the linancial slatemenls. Restricted funds are funds which are 10 be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity tor particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricled fund is sel Out in the noles10 the financial siaiements. Investment income, gains and losses are allocaled to the appropriate fund. Page 23
Counless Of Brecknock Hospice Trust (A Company Limlted by Guaranlee) Notes to the Financlal Slatemenls For the year ended 31 March 2024 Income from donations and legacles Restrlcted Unrestrlct8d fund8 funds 2024 2024 Total funds 2024 Total funds 2023 Donalions Legacies Fundraising sponsorshlp Income Donated services and facilities 1,200 475,572 215,435 81,308 9,600 476,772 215,435 81,308 9,600 440,438 72,248 39,825 9, 600 1,200 781,915 783,115 562,111 Total 2023 3,510 558, 601 562,111 Income Irom other tradlng actlvltles Income from fundralslng even18 Unre8lrlcted lund8 2024 Total lund8 2024 Total funds 2023 Retail income 9,528 9,528 13,497 Total 2023 13,497 13,497 Page 24
Countess Of Brecknock Hospice Trust (A Company Llmited by Guarantee) Noies io ihe Flnancial Stalemenls For Ihe year ended 31 March 2024 Investmenl incomé Unrestricted funds 2024 Total lunds 2024 Total lunds 2023 Income from UK listed investments Income from non-UK listgd investments Bank interest rec8ivabl8 34.911 7,324 15,071 34,911 7,324 15,071 34,531 7,653 2,381 57,306 57,306 44,565 Total 2023 44,565 44,565 Page 25
Countess Of Brecknock Hospice Trust (A Company Llmlted by Guarante8) Notes lo th8 Flnancial Statements For the year ended 31 March 2024 Expendilure on ralslng lunds Costs ol ralsing voluntary Incom8 Unr8slrlcted funds 2024 Total lund8 2024 Total lunds 2023 Communicalions Investment management costs Retail and events costs Wages and salaries National I nsurance Pension costs 16,769 6,387 25,592 56.434 3,739 1,856 16,769 6,387 25,592 56,434 3,739 1,856 12,926 6,386 20,981 45,610 2,962 1,670 110,777 110,777 90.535 Total 2023 90,535 90, 535 Analys18 01 granls Gran18 10 In8tllutlon8 2024 Total lund8 2024 rotal funds 2023 Grant lo new hospice building Grant10 hospice running costs 23,731 407,600 23,731 407,600 17,767 504, 751 431,331 431,331 521,918 Total 2023 521,918 521,918 All granls were made lo conlribule towards the running costs of the hospice and the designated sum of £23,731 {2023 £17,767} for the new building costs in lurtherance ot the Charity's objeclives. Page 26
Countess Of Brecknock Hospic8 Trust (A Company Llmlled by Guarantee) Note8 to the Financial Statements For ihe year ended 31 March 2024 Analysls of 8xpenditure by a¢tlvltl8s Activities und8rtaken dirèctly 2024 Grant lundlng ol actlvltles 2024 Support CO818 2024 Total funds 2024 Total lunds 2023 Other hospice cosis and maintenance Grant10 HHFT 38,482 23,731 407,600 118,495 180,708 407,600 218.662 504,151 38,482 431,331 118,495 588,308 722,813 Total 2023 95,028 521,918 105,867 722,813 Analy858 01 direct C08t• Hosplce Faclllt5e8 2024 Toial lund8 2024 Total funds 2023 Wellare support for pallenls and staff 38,482 38,482 95, 028 Total 2023 95, 028 95,028 Page 27
Countess Of Brecknock Hospice Trusi (A Company Limited by Guarantee) Not88 to the FSnanclal Stalements For the year ended 31 March 2024 Analyslg of expendltur8 by actlvitles (contlnued) Analysls of Support costs H08PiCO Facllltle8 2024 Total funds 2024 Total lunds 2023 Slalf costs sialf trainlng Insurances Renl Office expenditure Bank charges Consultancy and recruilment costs Governance costs 47,305 1.275 1,094 9,600 34,571 1,249 47,305 1,275 1,094 9,600 34,571 1,249 45,822 1,821 1.044 9, 600 27,942 2,219 5, 000 12,419 23,401 23,401 118,495 118,495 105,867 Tol812023 105, 867 105.867 Audltor8' romunerallon 2024 2023 Fees payable lo the Charity's audiior lor the audit of the Charily's annual accounts 5,250 4,890 Page 28
Countess 01 Br8cknock Hospice Trust (A Company Limited by Guarantee) Notes to the Flnanclal Slalemen18 For Ihe year ended 31 March 2024 10. siaff costs 2024 2023 Wages and salarias Social securily costs Conlribulion to defined conlribulion pension schemes 113,410 7,487 3,888 93,816 6,173 3,604 124,785 103,593 Included in Staff costs are temporary and Ire8lancelcontracl slalf payments totalling £3,168. £13,333 of staff costs have been Included within Hospice dire costs to recognise the lime and work thai has been carried out to support Ihe cllnlcal and communlly teams, and patlenis and Ihelr tamllles. Th8 average number ol persons amployed by the Chariiy during ihe year was as follows,. 2024 No. 2023 No. Administrative staff The number ol employees whose empSoye8 beneflts lexcludlng employer penslon costs) exceeded £60,000 was.. 2024 No. 2023 No. In the band £70,001 £80,000 The key management personn81 of the Charlly comprlse the Trustees and the managemenl team. The lolal employee benefits {gross pay plus employer pension conlribulionsl of the key management personnel ol the Charity were £72,12512023- £70,611). Tru$tee$' remun8ratlon and expenses Durlng the year, no Trust&es received any remuneration or other benefits (2023- £NIL). During the year ended 31 March 2024, no Trustee expenses have b88n Sncurred (2023- £NIL). Pagg 29
Countess Of Brecknock Hospice Trusi (A Company Limited by Guarantee) Notes lo Ihe Financial Statements For the year ended 31 March 2024 12. Tanglble flx8d ass8t9 Furnlture and Equlpment Computer 8qulpment Tolal C081 or valuallon At 1 April 2023 Disposals 1,507 14,078 (150) 15,585 (150) Al 31 March 2024 1,507 13,928 15,435 Depreclatlon At 1 April 2023 On disposals 1,505 14,074 (149) 15,579 (149) At 31 March 2024 1,505 13,925 15,430 Nat book value At 31 March 2024 At 31 March 2023 13. Flxed assat Invè81mon18 Inve8tment Portfolio Co81 or valuatlon Al 1 April 2023 Additions Disposals Revaluations 1,236,790 9,227 (36,819) 14,039 At 31 March 2024 1,223,237 Hisiorical c09t The historical cost ol investments at year end was £1,009,923 (2023 - £1,027,774). Page 30
Countess Of Brecknock Hosplce Trust (A Company Limiled by Guarantee) Notè8 to tho Flnancial Statements For the year anded 31 March 2024 14. Stocks 2024 2023 Stock of retail goods 4,159 2,635 15. Doblor8 2024 2023 Dua wlthSn onè yoar Other debtors Gift aid recoverab18 269 5,071 7,595 4,966 5,340 6,561 16. Credltorg: Amounts falllng due wllhln one year 2024 2023 Other laxallon and soclal securlty Other credilors Accruals and delerr8d Income Accruals for grants payable 3,488 3,295 12,511 476,000 3,231 3,516 17,930 504,151 495,294 528,828 Page 31
Countess Of Brecknock Hosplce Trust {A Company Limited by Guarantee) Notes 10 the Financial siaiements For tho year ended 31 March 2024 17. Flnanclal Instruments 2024 2023 Flnanclal assels Financial assets measured at fair value through income and expenditure Flnanclal assets measured ai amortls8d cost 1,223,237 1,148,081 1,236, 790 1,004,682 2,371,318 2,247,472 2024 2Q23 Flnancl81 IlabllllSes Financial liabilities measured al amortised cost 495,294 528,828 Financial assets measured al fair value through Sncome and expenditure includes investments, Financial assets thai ar8 debt insinJm8nts measured ai amortls8d cosi Includes debtors and cash at bank and in hand, Flnanclal Ilabllilies measured al amortls8d cost includes bank loans, overdrafts, accruals, deferred income and other cr8dilors. Item8 of Income, oxpen8e, galn8 or108888 Income Net galngl (losses) 2024 Financial assets measured at fair value through Income and expenditure FinancSal asseis measured ai amortised costs 42,235 15,071 14,039 Income Net galns 2023 Financial assels measured al falr value through income and expenditure Financial assets measured at amortised costs 42,184 2,381 152,2581 The total interest income for financial asseis not measured ai fair value through income or expendilure is £15,071 (2023.. £2,381). Page 32
Counless Of Brecknock Hosplc8 Trust (A Company Limiied by Guarantee) Notes to the Financial Stat8menls For the year ended 31 March 2024 18. Statémènt ol funds Statement ol funds • currenl year Balance at 31 March 2024 Balanc8 ai 1 AprS12023 Galnsl (Loss88) Incoma ExndItUre Unre8trlcl8d funds Doslgnalèd lund$ Buildlng fund 90,468 1,020 (23,761) 67,727 General funda Unrestricted funds 1,616,291 847,729 (674,1)29) 14,039 1,804,030 Total Unreslrlcted lunds 1,706,759 848,749 <697,790) 14,039 1,871,757 Re8lrlcl8d lund8 Deane summer events New building upk88p Equipment Training 4,421 3,760 4,421 3,760 1,200 (1,295) 250 250 8,526 1,200 (1,295) 8,431 Total of fund8 1,715,285 849,949 (699,085) 14,039 1,880,188 Page 33
Couniess Of Brecknock Hospice Trusi (A Company Llmited by Guarant88) Notes to the Financial Statem8nts For the year ended 31 March 2024 18. Staiement of funds (Gontinued) Stalement of funds . prlor year As r8st8te Balance al 31 March 2023 As rest8tea 8818nc8 ai l April 2022 Transf8rs inloul Gains/ (Losses) Income Expenditure Unrestrlcted fund8 Deslgnaled lund8 Building fund 103, 705 (21,118) 8,481 90,468 General fund8 Unrestricted funds 1,847,242 616,663 (786, 875) (8,481) (52,258) 1,876,297 Tolal Unra8lrleied fund8 1,950,347 616,663 (807,993) (52,258) 1, 706, 759 Restrlcted funds Deane summer events New building upkeep Equipment Training 4,421 4,421 2,500 3,200 250 1,260 2,250 3, 760 95 250 (5,355) 10,371 3,510 (5,355) 8,526 Toi81 of fund8 1,960, 718 620,173 (813,348) (52,258) 1,715,285 Page 34
Countess 01 Brecknock Hosplc8 Tnjst (A Company Limited by Guarantee) Not88 to thè Financial Statements For the yaar end6d 31 March 2024 18. Statement of lunds (conllnued) Deslgnatad Buildlng Fund (now Iho Doslgnatod Naw Buildlng Upkeep Fund) The building fund was esiablished 10 provide funds iowards the developmenl ol the hospice. The development commenced in September 2018 and was completed in April 2020. The funds have been re-designaled and are now us8d lo upkeep the building. HHFT Grant Fund This was established to reflect the grant commitments agreed by the Trustees in respect of Hospice running costs, specific staff posis and seNices and other financial support agreed by Ihe Trustees. This fund has now been remov6d as the grant is included in th8 Ilnancial statements as a liability. See not8 22. D8an8 Summer Ev8nt8 Rèstrlcted Fund Thls was established by donation to meet Ihe costs ol puttlng on the summer events at Deane House. New bulldlng upk8ep, Equlpment and Tralnlng Re8lrlcted Fund• Thes8 funds have b88n established for donations r8C8ived in which the usa ol which has been specified by the donor. 19. Summary ol funds Summary of fund8- current y88r Balance at 31 March 2024 Balance at 1 AprS12023 Galn81 (L088es) Income Expendlture Designated funds General funds Restricted funds 90,468 1,616,291 8,526 1,020 847,729 1,200 (23,761) {674,029) {1,295) 67,727 1,804,030 8,431 14,039 1,715,285 849,949 (699,085) 14,039 1,880,188 Summary of lunds. prlor year As restateo Balance al l April 2022 Balance al 31 March 2023 Transfers in/oul Gains/ (Losses) Income Expenditure Designated funds General funds Resiricted funds 103, 105 1,847,242 (21,118) (786,875) 8,487 {8,481) 90,468 1,616,291 616,663 (52,258) 70,371 3,510 (5,355) 8,526 1,960,718 620,173 (813,348) (52,258) 1,715,285 Page 35
Countess Of Brecknock Hospice Trust (A Company Limited by Guarantee) Notes lo the Financlal Stalem8nt8 For the year ended 31 March 2024 20. AnalysSs of net asseis between funds Analysls ol n81 ass8ts betw88n fundg. eurr8nt pèriod Reslrlcted Unrestrlcled funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed assel inv@slm8nls Curr8ni assets Creditors due wlthin one year 1,223,237 1,223,237 1,143,809 1,152,240 (495,2941 (495,294) 8,431 Toial 8,431 1,871,757 1,880,188 Analy858 of nol a8Jot8 between lund8- prlor porlod As r8Statea R8Stricteé Unrestrictea funds funds 2023 2023 Toial funds 2023 Tanglb18 flxed assets Fixed ass61 inv8Stm8nts Current ass819 Creditors due within one year 1,236, 790 1,236, 790 998, 791 1,007,317 (528.828) (528,828) 8,526 Tolal 8,526 1, 706, 759 1,715,285 Page 36
Countess Of Brecknock Hospice Trusl (A Company Limlted by Guarantee) Notes lo tho Financial Slatemenls For the year ended 91 March 2024 21. Reconclll81ion of net movement 5n funds to net cash flow from operatlng a¢tlvltles 2024 2023 Nel incomelexpendilure lor the period las per sialemeni ol Financial Aciivilies} 164,903 (245,433) Adlustments for: Loss on th8 sa18 of fixed assets Increase in slocks {Increase}Idecrease in debtors Increaselldecr8ase} in creditors Lossllgainl on revaluation ot Invesiments (1,524) 1,221 (33,534) (14,039) (2,020) (4,047) 121,571 52,258 Nel cash provld8d byl{used In) oparatlng actlvltl88 117,028 (77,671) 22. Analysls ol cash and cash 6qulvalenl8 2024 2023 Cash In hand 1,142,741 998,121 Toial c88h and ca8h 8qulvalent8 1,142,741 998,121 23. Analy813 of chang88 In net debt At 1 Aprll 2023 Cash flows At 31 March 2024 Cash al bank and in hand 998,121 144,620 1,142,741 998,121 144,620 1,142,741 Page 37
Countess 01 Brecknock Hospicg Trust (A Company Limited by Guarant88) Noles lo Ihe Flnanclal Statements For the year anded 31 March 2024 24. Operating lease commltmenls Al 31 March 2024 th8 Charity had commitments to make future minimum lease payments und8r non- cancellable operating leases as follows: 2024 2023 Not later Ihan l year Later Ihan 1 year and not laler Ihan 5 years 2,660 5,986 3,282 8,564 8,646 71,846 The following lease payments have been recognlsed as an expense In the Slalemenl ol Financlal Aclivili8S'. 2024 2023 Operating lease rentals 3,222 4,104 25. Conllngent a8sets The Charity has been notified of legacies where the valug ol these eslales was uncertain as the executors are waiting on information on any claims io be made on these estates, Th8relor8 no amount has been accnJed in respect ol these legacies. 26. Rolatod party tran8aciion8 During the year there were transactions between the charity and the irusiees who held office durfng the year, which are detailed in the paragraph below. The Iruslees were C M Scheekter DL, Rear Admiral l R Henderson CB CBE DL, Vice Admiral P Bolssler CB, R Childs, M Hyson FCA, P A Kinnersley-west, B R W Parker M8E, E K Sandy and S Tufnell. The lolal amount of donations received without conditions from the trustees was £4,686 {2023 . £5,865). At th8 balance sheet date the amount due from the trustees was £nil {2023 £nill. No trustees received any remuneration or other benefits. 27. Controlling party The company was controlled throughout the period by lh8 Trustees, by virtue ol control afforded lo them by the Memorandum and Articles ol Association. Page 38