East Lancashire - Hospice 40 Trustees Annual Report & Accounts 202312024 Iijl Contents O I Welcome 02 Mission, Vision & Values 03 Strategic Report 05 The Year in Focus - People 06 The Year in Focus - Care 07 The Year in Focus~ Digital Optimisation 08 The Year in Focus- Sustainability 09 Our Year in Numbers l O Patient Stories - Colin's Story I l Financial Review - Income 15 Financial Review - Expenditure 18 Key Risks & Uncertainties 20 Plans for Future Sustainability 21 statement of Trustees Responsibilities 22 Structure - Governance & Management 26 Independent Auditor's Report 30 Financial Statements 34 Notes to the Financial Statements 50 Administrative Information years of making the most of lrfe 1984-2024 Welcome It is with great deli the year ended 31s We finished the year on a surplus of £545,267 despite the financi faced- this wa mainly due to an Increase In legacy donations always gratefuis and the gains we earned on our Investments. Our focus during this year remained the continuous improvement and delive our services to provide holistic, wrap around care for patients, and to support families and people close to them. Whether or not these are s Unit, specialist and suppor ecialist palliative care services delivered on the Inpatient ive care rovided in the community, or the creative and support therapies we provide in Ca T, primarily at the hospice. Our education provision has also continued to rowa ain, increasingly with a ecific focus on the development of our e whicR has included enhancing inical skills, non-medical prescribing, a vanced care planning, and spiritual care. We saw an increase in the demand for all our services and continued to develo our outreach with homeless and vulnerable communities - stren thening relations ips locally with charities like Motor Neurone Disease Association, Parkinson's UK, Age UK Maundy Relief, T.H.O.M.A.S, and Healthwatch. Our patients and their carers continued to provide us wlth excellent feedback about all our services. We developed lans to ensure their voices are heard when we are looking at service developmen and reviewing existing provisions. In the first year of our new strategy, we have made priorities - particularl focussing on the health, well Erogress against our strateglc eing, development and support of our staff and volun eers. We developed the role of Head of WellbeinR, Support and Development and launch d a package of Initiatives and sta awards from our monthly Shine a Light Award oran one deserving peer recognition) to establishing a 12 month programme o educational support. All our services are provided free of charge and desplte challengin external factors we finished the partial funding ear in a relatively healthy financial position - than s to ongoing rom the NHS and strong support from our communit who provide over 55Yo of our income- which as a charity we rely on. and supporters hank you, And finally, our thanks go to our staff and volunteers who make us the outstanding hospice we are. Thanks too to our Board of Trustees for their SUPEOrt, guidance and commitment. Special thanks to trustee and company secreta achel Pallister who retired after 40 years of service. We hope you find this report In eresting and useful. ht that we March 20 resent the Trustees Annual Report and Accounts for I challenges we for which we are of all eir Hilary Barrett Chief Executive Graham Parr Chairman of the Board 01 WELCOME Mission, Vision & Values Our Mission Tosu Hynd ort and care for patients with a life limiting illness, in Blackburn, Darwen, urn and the Ribble Valle that puts the individual's healt and those important to them. To provide care do. and wellbeing at the centre of everything we Our Vl8lon To enable them and Eeople to make the most of life b focusing on what is important to elplng them achieve the things ¥hat matter most. Our Valuos We commit to: Care l Llsten l Respect I WorkTogether Our Alm8 To Thrlvo - we wlll increase our resilience in all that we do To Reach- we will increase the number of people we care for in the community and raise awareness of what we do To Innovate- we will offer new services and constantl ways of deliv8rin9 those services to meet the needs o friends and families seek to develop new our patients, their In order to achieve these three aims we have set out four key prlorities to help us get there: Prlority l - People- We wlll invest in and support our staff and volunteers to be the best they can be Prlorl 2 - Care - We will continue to innovate and develop our services to meet t e needs of our diverse community Prlorlty 3 - Dlgltal Optlmlsatlon - We will ensure that our IT infrastructure and systems are robust, and support our ambitious strategy by providing digital solutions to the delivery and reach of our services Prlorlty 4- Sustalnablllty- We will mana effectively to ensure long term sustainabi e our charity eff iciently and 02 MISSION. VISION & VALUES Strategic Report The Trustees, who are also directors of the chari Companies Act, submit their annual report and t for the pur oses of the e audited Inancial statements for the year ending 31 March 2024, which are also prep.ared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charit Repor ¥'s governin9 document, the Charities Act 2011 and Accounting and ing by Charities: Statement of Recommended Practice applicable to charities Standar Ireparing their accounts in accordance with the Financial Reporting 2019. applicable In the UK and Republic of Ireland published In October Whatwe do activity and complies with the Charities Act and guidance publishe rincipal The Trustees believe that the charity provides a public benefit as itslby the Charity Commission. Our princip Association l activity (as defined in our Memorandum and Articles of is to enhance the quality of life for individuals with a life limiting illness. The aim is to p.rovide specialist, sup ortive and end of life care to any adult in the communities we serve (ie Blackgurn with Darwen, the Ribble Valley and Hyndburn). We do this without dlscrimination, free of charge and in the choice, We offer support to them, their relatives, carers and Referrals are accepted from a variety of Health Care Professionals and patients can self-refer to many of our services with places offered according to need. Our care is provided In various settings Including: In the hos Outpatien Ice (Inpatients, specialist and Supportive Community s as well therapeutic services s a variety of wellbeing and support services and In patlent's own homes (Clinical Nurse Specialists and Hospice@Home) In more detail, the settings referred to above include: A ten - bedded Inpatlent Unlt (Ipu) where specialist palliative and end of life care is delivered by a multidisciplinary team A communityteam which consists of Clinical Nurse Specialists (who work with General Practitioners and other Health Care Professionals). It also consists of a multiskilled Hospice@Home team who support the provision of palliative and end of life care in people's own homes Single Polnt of Access for Night Sup ort to maximise the opportunity for responsive intervention that suppo s the person achieving a preferred place of care, whilst also aiming to prevent avoidable admissions lace of their riends. 03 STRATEGIC REPORT • Sup ort and Wellbeing servlces conslstlng of: reative and Supportive therapies Family Support includin9 Counselling and Bereavement support Complementary thera ies Palliative Care physiot erapy Outpatient cllnlcs In addition to face-to-face consultations at the hospice, we have continued hospice or virtually o offer our support and wellbeing services either in the where appropriate) to meet the needs of our patients We work collaboratively with other Health Care Providers and have continued to host clinics for example, for people with Motor Neurone Disease in addition to hosting palliative care consultant-led outpatient clinics. We also provide specialisL generalist and end of Ilfe palliative care education within our hospice and to the wider community. Our philosoph.y of care is that we care for the whole person be that Rhysically, socially, emotionally and spiritually. Our services support people wit limiting illness from the first days of uncertainty through to the last days of Ilfe and death. Beyond tha¢ we continue to support the family through bereavement. The need for high quality palliative care continued to grow as we saw more complex needs, later presentation and more patients with multiple co- morbidities, not Just a sin teams ensure we can adg ress t nosis such as cancer. Our multidisciplinary is. "Thank you to all at the Hospice at Home team for looking after our dad and grandad. The support you all gave our family at that difficult time, your time and care and a listening ear has been very much appreciated. Thanks again for all the fantastic work you do." Patient's Family 04 STRATEGIC REPORT The Year in Focus Priority l - People 'We will invest in and support our staff and volunteers to be the best they can be., ort and Development which reflects our role has already shown a significant impact on our s hout the organisation. Her Raff and what we do We successfully delivered our first Wellbeing Week, offering a range of actlvlties and workshops focused on mental health, physicol well-bein9, and stress management. Over 80 staff and volunteers partici ated, si nificantl boosting morale and engagement. Overall we have suppo ed half o our sta throughout the year across various wellbeing Initiatives A quarterly Wellbeing Newsletter was launched to ensure staff have the rlght information and signposting to support their ongoing physical and mental wellbeing. We have also recruited several staff to become Wellbeing Champlons and Mental Health First Alders to provide additional support across the hospice Our new Corporate Induction pro ram was launched to ensure that all new staff and volunteers receive a com re ensive induction to East Lancashire Hospice, who we are and what we do. is new induction rocess has increased consistency and insight when introducing new sfaff to the hospice We developed a 12 month training plan for our staff (which included some mandatory training) We developed a resilience supervision program and started its implementation. This Initiative aims to provide enhanced su being and resilience in their demanding ro pport to our staff, promotlng well- es. This trainin has been Introduced in a response to need following staff consultation. Hospice & have provided the training to 9 of our staff who will deliver thls We invested in external upskllling through partnershlps with organisations such as Corndel, enhancing our team's capabilities Additionally, our annual training plan, including Dedici coaching, has provided targeted development opportunities for our staff A comprehensive review of our.pay and benefits structure was conducted to ensure com etitiveness and fairness. This review has led to adjustments aimed at improving s aff satisfaction and retention Our annual staff survey. garnered valuable feedbacl highlighting areas of rovement. Action plans are being developed to strength and opportunities for ImEaff address key concerns raised by s members We conducted our first standalone volunteer survey, which provided insights into the volunteer experience and identified areas for enhancing volunteer support and engagement Four new trustees have been appointed, bringing fresh perspectives and expertise to our board We have made strategic changes to our governance committees to improve oversight and effectiveness, ensuring we meet our strategic objectives eff Iciently 05 THE YEAR IN FOCUS- PEOPLE The Year in Focus Priority 2 - Care 'We will contlnue to innovate and develop our services to meet the needs of our diverse community.. We introduced a Registered Nurse position into the Hospice Home team to strengthen our ability to respond to community needs and emands. Her support In upskilling the team has already enhanced the quality of care provided We have developed the opportunity for career progression of our support staff with the Introduction of new roles Including Senior Health Care Assistant and Physiotherapy Assistant We have continued our enga groups, includin ement with marginalised and hard-to-reach on the Street an ongoing ou reach through our relationship with Church and Parkinson's UK rop-in sessions with Motor Neurone Disease Association The relaunch of bereavement support groups has helped to reduce our waitin 202419 lists, with full Implementation and additional resources planned for 5. This revised method of delivering bereavement support has been well received and gives us new and Innovative ways to provide this support to our community Our therapeutic bathin identified needs for adg. service continues to develop and grow, we have Itional resources to meet increasin demand and recruited staff to increase delivery of the service to those w o need it A dedicated group has been established to focus on the nutrition and hydration of our patients, working closely with our chef and Café Retreat to Improve our service offerings We have expanded our educational initiatives, delivering training sessions and Viorkshops to both staff and the community, enhancing knowledge and skills In critical areas The e- 202411 rescribin9 initiative, planned in 2023124, is set to be implemented In 5, streamlining our prescribing processes and improving patient care 06 THE YEAR IN FOCUS- CARE The Year in Focus Priority 3 - Digital Optimisation 'We will ensure that our IT infrastructure and s our ambitious strategy by providing digital so of our services., stems are robust, and support utions to the delivery and reach Our formal IT strategy has continued to develop. We have made significant strides in improvin9 our digital infrastructure and processes. Further development of this plan will happen In 24125 We appointed Convene as our external IT provider and expert to enhance our digital capability and document management, Improving efficiency and collaboration ned in readiness for the migration and Training for Microsoft 365 happ725. This will further enhance our staff's move to the new platform In 24 digital capabilities and productivity. Ongoing training is planned for 24125 We have standardised our data management practices to ali n with LSCHT Lancashire and South Cumbria Hospices Together), Hospice K and ICB Integrated Care Board) standards, governance and data security. In 24 nsuring robust information 25 we will be starting a data project which will see us overhaul what data we capture, how we use it and how we report on it "To all the nursing staff, and all volunteers and all other staff. Many thanks for the wonderful and compassionate care you gave., -Patient's Family 07 THE YEAR IN FOCUS- DIGITAL The Year in Focus Priority 4 - Sustainability 'We will manage our charity efficiently and effectively to ensure long term sustainability. We have strengthened our governance frameworL with supporting sub- commlttees to enhance oversight and decision-making processes. These committees are chaired by trustees to ensure we continue to be scrutinised and challenged in all that we do A new Head of Retail was ap voluntary income, the size o ointed this year, focusing on increasing our shop portfolio and improving our overall retail infrastructure. This is part of our longer-term retail strategy to grow our Income and presence In the community A thorou artia h review of our investment plan has been conducted by an external provider, to ensure our financial resources and investment icy is aligned with our strategic goals We successfully launched a restricted funding appeal to replace the reclining chairs on our Inpatient Unit, our community was very generous and liked funding something tangible for the hospice Our income has shown positive trends, reflecting the success of our fundraising and operational strategies Voluntary income showed an increase of 41% this year which is in excess of our goal of a 25/0 increase by 2026 08 THE YEAR IN FOCUS- SUSTAINABILITY Our Year in Numbers 2,256 patients cared for overall 13 Days (average length of stay) on IPU 10 Beds on IPU 77,000 items sold In our shops 350 pies sold 4,054 people made a donation to the hospice 7,013 contacts with patients in the community 906 referrals made to our support & wellbeing services 42 new members of staff 09 OUR YEAR IN NUMBERS Patient Stories Colin Taylor was dia Creative and Suppor nosed with lung cancer and attended our Therapy service. Although Colin only attended the sessions for a few months, he saw the benefits and looked forward to attending the Thursday morning singing group. Colin's Story Colin regularly attended our Creative and Support Therapy Service and the Hospice Singers group, which was set up to support patient's wellbaing. As a keen drummer, Colin once su concert held during the Vietnam orted the American Drifters at a ar, whilst there as a solider, and so was able to bring along his talents and incredible stories to share with other patients attending the group. Creatlve and Support Thera y Is a valuable service offered to our patlents, It enables people to meet ofhers who are going through the same or similarjourney. The service offers a wide variety of activitles for the patients to enjoyi Including; art, patients who a uizzes, pottery, ardenin tend see great enefits , sewing and of course singing. The rom comin not only by the wider hospice, but each other as we and feel supported focus on . The service Is there to 'making t atient wellbeing and how w8 can support each individual In e most of life,. The singing group,.which takes on someone's we Ing. teacher. lace on a Thursday morning is held by aye understands the benefits singing has but also the benefits the breothing techniques she teaches has on some 09'the patients dealing with chest pain and shortness of breath. Colin was one of those patients who saw a difference, "I'vo onl been ¢omlng to tho slngln Cancer, I strug %groupfor a fow months and because o mylung 8es8lons. myc mychestand breathing.After I ve been to the along. est and br•athlng Is Improvlng and I really enjoy comlng Colin had terminal lung cancer and died at the beginnin referred to the hospice by his GP and like many people, of 2024. He was attend, he thought the hos olin was scared to one day, he soon realised i ice was where you went to die, but after just was much more than that. 10 PATIENT STORIES Financial Review Income The Statement of Financial Activities for the year is set out on page 30. A summary of the financial results and the work of the Charity is detailed below: The group's results show a net operational deficit (before investment gains) of £752,511 for the year following a deficit of £528,128 In the year to 31 March 2023. Total income is up by £210,093 (6/.) and expenditure has also increased by £434,476 (11 /.) which is the main reason for the Increased deficit. Inflation and increasln9 salary.costs account for the majority of resources expended as the hos funds invested in sta Ice continues to Invest in Its people, Including additional training and development. The Charity's total net surplus for the ear, including investment gains, Is £545,267 after a total deficit of £915,813 last year. More detall relating to income and expenditure is provided below. Income This year has seen us consolidate our income streams, invest where we have seen success and develop new ways of raising voluntary Income. We are workin continuing to s in a challenging financial climate but our community Is ow their commitment to supporting the hospice as best they can and in any way they can, for which we are so grateful. This year our voluntary income has grown but there is more to do. Below we have commented in more detail how we have raised income for the hospice. Events We saw a great response to our events this year and had the blggest turnout for our annual Pub Wall over 700 people walked the route and raised £23,000 for the hospice. The event was sponsored by Intack Self Drive, a local company that supports the hospice in many ways. We also reintroduced the Morecambe Bay Walk back into our events calendar which was very successful and 250 people safely crossed the bay for us. A new event was introduced this year, the Firewalk, and was a huge success with £ll,000 raised and a great evening in the hospice gardens. 11 FINANCIAL REVIEW- INCOME Lottery Our weekly lottery raises si9nificant income for the hospice and this year we have invested to grow this Income stream with the appointment of an external canvassing company Engage and Connect. Engage and Connect are signing up new lottery players b attending different venues out In the community, from supermarkets to local ¥estivals and events. So far this Is going well for us and we are recruiting more people to play the lottery. If you see us out and about, please come and say hello. To facilitate our lotte Sterling Lotteries and we work with two professional fundraising organisations ngage and Connect. Indlvldual Glvlng This ear we have sent out two cash a high ighting the workwe do on IPU an eals to our supporters, one ow that impacted one family in particular, and one focussing on replacing our reclining chairs, We also sent out our annual Sunflower and Li community to make a donation in memo appeals culminated in two lovely events w pht up a Life agpeals, asking our a loved one, oth of these In reflection and remembrance. ere our community came together We are also thankful to all the supporters who have set up a regular donation throughout the year, providing the hospice with long term, sustainable income. G1ft8 In Wllls Legacy giving continues to provide us with a valuable, re Income stream. We have worked hard this year to streng ular and sustainable en our work and Investment In this area, In order to grow over the next 3 years and as part of our Income Generation strategy. In 23124 we received £423,763 from 6 le9ators. As part of our investment, we appointed a legacy specialist to work with us on our le marketing so that we can tell more people how their facy administration and hospice and more to East Lancashire ractically, how they can go abou t will Impact the ospice. eaving a gift in their Will 12 FINANCIAL REVIEW- INCOME Corporato We had a successful Corporate Challenge in 23124 with 21 local businesses across our community taking part and collectively raising £60,000. The challenge was once again sponsored by Nybble.co.uk who also entered a team. We introduced our new Corporate Giving scheme - Enterprise Heroes, whereby smaller businesses can support the hospice by donating £365 a year (£1 a day). The Cardboard Box Company have continued to sup ort the hospice and as well as s onsoring the annual ball, they continue to onate ifts in kind and their sta volunteer at our CaST Christmas party. We would e to thank all the businesses that support us in many ways. Communlty The annual Gravy Wrestling event saw its biggest year with over 500 people joining us on the day, this event has become a much loved and important community event. We have seen challenge events becoming more popular and individuals taking on harder activities to raise money for the hospice. We had a supporter climb Everest Base Camp in March, and a re ular community supporter Dave Clarke take on another ruelling challenge, w ich he has been doing since 2016 and has raised over 1,000. The Star Wars Fan Fun Day which is held every May for the hospice was once again a huge success raising over £5,000. Calo Retreat Our hospice café continues to b income has grown by £7,235 (7/. popular with our community and this year thanks to more people coming and enjoying our lovely breakfast and lunch menu. The 'Life of Pie, takeaway service has also generated record sales this year. Retall The income from the Charitys trading subsidiary is slightly up by £7,397, with increased trading from some shops as well as a new por-up shop being opened In Oswaldtwistle Mills at the start of the financia year. Additional funds are being invested in retail for future ears as the Board feels that there remains an opportunity to expand the retai operation to further support our charitable activities. 13 FINANCIAL REVIEW- INCOME Investments These are another key income stream for us. They fall into 2 categories: Interest earned on cash we hold in de osit accounts more than doubled as bank interest rates increased. In 2023f24 we earned £68,616 (Last year £30,330) Gains on investments in our 2 ortfolios. Gains were £1,297,778 this ear compared to a loss of £387,68 ast year. Funds within these portfo ios can be accessed within I week should we need them for cashflow purposes. The Investment portfolios remain under the management of two professional Investment advisors Grant Fundlng We received a grant from the Integrated Care Board (which has re CCG structure) - this need to raise almost rant covers about a third of our running cos 3m to break even. laced the ssowe The hos (Lancas ice is part of a collaborative for Lancashire and South Cumbrla ire and South Cumbria Hospices Together LSCHT) which liaises with the ICB with one voice. Whilst the future of funding is uncertain, w8 remain positiva about our workin relationship with the ICB despite not having had an Increase to our grant for years although costs and needs have both increased. "The hospice enabled me to take a step back from being my mum's carer and allowed me to be there for my mum as her daughter. And l am so grateful for that and giving me the opportunity to spend those last few precious days with her. -Patient's Family 14 FINANCIAL REVIEW- INCOME Financial Review Expenditure Tota l ex enditure for 23124 increased by £434,476 (11 /.) and10.8/0 of this is related o the delivery of our charitable activities which is to provide specialist, supportive and therapeutic care to patients and their families. The rest of our expenditure can be attributed to the costs enerated through fundraising and marketing. These increases were anticipa ed, and costs remained under budget for the year. Charltable Actlvltle8 staffing remains our single largest cost. staffing costs were up on last mainly because of an increase In staff salaries of 3/. from April Ist 202 We also paid a bonus in two instalments of £500 each in recognition of the hard work and loyalty of our staff, and as a contribution towards the cost of living crisis, ear We benchmark a total benefits pac alnst the pay awards of the NHS and try to ensure that our age is attractive. NHS En 2016 ac land once again continued to und the NHS pension costs following the uarial valuation. The Increase from14.3/. to 20.68/0 em contribution would otherwise have been potentially £85K whic the hospice would have ad to pay. It is not yet clear when employers will be expected to take this cost on directly. One of our priorities as defined in our 3 year strate technolo usage. 2023124 saw the beginning of tRY is to optimise our at investment as we started tou ra eou equipment, and planned for our migration to M365. (We invested £10 k In 23124. Costs continue to be carefully monitored to ensure value for money and responsible allocation of resources, overall spending for the year was considerably below budget. Much of this was as a result of lower than planned staff costs, largely as a result of unfilled vacancies. It is increasingly difficult to fill clinical roles because of a general shortage of trained personnel in the labour market and we are continuin to focus on ways to resolve the shortfall whilst not Impacting on the services 09fered to the community. Ralslng Funds Expenditure on raisin funds are those costs incurred in attractin voluntary income through fun raisin and events, the hospice lottery and t e costs incurred in retail tradin9 ac ivities. There is more detail about how we fundraise in "Key Risks and Uncertainties" on page 18. 15 FINANCIAL REVIEW- EXPENDITURE Reserves Pollcy Throughout this year the hospice reserves policy, which is to kee of 24 months running costs (now18 months) was observed. The a minimum oard of Trustees review the reserves policy annually. The Finance Governance Committee reviews and monitors the performance of our reserves quarterly and reports to the Board. Reserves and investment reviews encompass all income and expenditure streams, the need to match variable income with fixed commitments and longer term plans to support a sustainable future. When deficits occur, we rely on our reserves to enable us to continue to provide hospice services for our patients and their families. To strengthen our governance, The Board of Trustees agreed to an Independent review of our investment policy and the performance of our Investment managers. This independent review will be repeated every 3 years. A prudent approach is taken by the Board of Trustees towards reserves. It is based on our accounts as they currently stand along with a potentially unstable future financial position. Total reserves as at 31 March 2024 were £15,842,737 (2024: £15,297,470), of which £15,825,333 is unrestricted funds and £17,404 is restricted funds. After the deduction from total funds of restricted funds, designated funds and tangible fixed assets the total reserves are £13,805,719. This reserves value currently represents no more than 30 months of budgeted expenditure, which meets the reserves policy. Some unrestricted general funds from the reserves have been designated for the following projects: £250,000 I.T. Investment Fund - this is a 3-year investment in l.T. which is part of our Digital Transformation Strategy £175,000 Retail Expansion Fund- thesa funds have been allocated to expand from 5 to15 shops over the next 5 years, this is part of our Invest to Grow Strategy £52,500 Maintenance Plan - this is to enable som and maintenance works to be carried out in 2024 significant up rades 25 and it inclu es some ecific items of planned expenditure, for example, additional automatic oors for patients use £50,000 Brand Project Fund - this is for a brand redesign to be carried out In 2024125 Including roll-out costs £30,000 New Website Fund - this is for the redesign of our hospice website Any surplus to the minimum reserves polic financial sustainability and to finance sho , will be used to safeguard future and long term development plans. 16 FINANCIAL REVIEW- EXPENDITURE Development plans for the upcoming years include: Regularl reviewing and investing in our services to ensure they meet the needs o patients Replacing on an ongoing basis patient equipment and enhancing patient facilities Investing in digital technology and equipment Continuing to invest in our gardens and outdoor space for patients, their families and carers, staff, volunteers and our supporters • Re ular investment in support and educational development for staff and vo unteers to ensure we are the best we can be • Re ular investment to upgrade the hospice environment for patients, ors, staff and volunteers Inv•stment Objectlves & Returns The responsibility for investment matters has been dele ated by the Board of Trustees to the Finance Governance Committee (FGC). 8ut of the four new trustees who 'oined the hospice this year, two of them sit on the FGC with one being Chair. Ihe Committee seeks to achieve maximum returns on the capital within the charity.than offered by deposit accounts, and our investments act both as a diversified income stream and reserves. The Investment ortfolio the year (funds decreased gy £387,685 Increased in value by £1,297,778 durin9t of In 2023). This Increase arose as a resu continued global economic changes and geopolitical events. The Committee's eneral strategy, in terms of cash deposits, is to look to invest all funds over an above those required for operational purposes on term deposits, spreading the risk across financial institutions. Quarterly meetings provide an opportuni to review the funds and heir performance. Returns on cash deposits genera ed £68,616 (2023: £30,330 We retaln two firms of Investment Mana ers who are always available to advise the Finance Governance Commit ee directly on investment strate These mana and cash to ers have total control over discretionary funds of investmen e managed within guidelines agreed with the Committee. The Investment Managers provide the Committee with a quarterl asset allocation statement. This is submitted alon9 With summaries to highlig tthe erformance of the portfolio, relative to agreed Industry recognised enchmarks. The ortfolio will primarily be benchmarked against CPI +4/.p.a. net of fees over ro ing 5-year periods. The fundlinvestment manager may also set a composite benchmark representin the Strategic Asset Allocation of the Portfolio and an appropriate peer group enchmark such as ARC steady Growth. A full review Including an external audit took place this year and based on our revised Investment strate going a full external 3rd party review is required, at least once every 3 years orward and the next one is scheduled to take place in 2026. In the event of the Investment Mana er's insolvency, assets would remain in trust with the nominee company an would therefore not be impacted by the insolvency. 17 FINANCIAL REVIEW- EXPENDITURE Key Risks & Uncertainties Every quarter the Board reviews the major risks facing the hos ice. Each overnance committee Is responsible for its own risks. A risks which could beca astro a score of I hic for the hospice (but unlikely to happen) as well as all risks with and above are discussed by the Board every quarter. The key risks and uncertainties which the Board considered in 2023124 were; Recruitment and retention of staff across the hospice The loss of key people- which su orted the need for robust succession planning which was started in 20 The inability to meet needs (because of vaconcies and stretched resources) The failure to embrace digitalisation opportunities and to equip a flexible workforce with the tools to be more productive The uncertainty about financial support from the ICB and the rellance on growing voluntary income During the year plans were agreed to mitigate these risks with the knowledge that some risks would Just have to be accepted as ongoing, These risks are contlnually monitored. other risks and uncertainties include; Income Goneratlon We remain conscious of the impact that Covid-19 had and continues to have on household income due to the current economic climate. We know that there will be even more pressures on the donor pound in future periods. All our income generation Is managed internally by our Income Generation team who are responsible for all volunteers who support our fundraising and retailing. We continue to work hard to ensure our supporters data is secure as well as develo would ike our systems to ensure that our supporters can choose how they o be contacted and with what types of communication. We are also aware that we have Increasing competition as more and more charities compete for the same pots of money. Data Protectlon and Confldentlality These are vital to our organisation, and we are fully aware of the reputational risks posed by'social media such as'Facebook' and 'Linkedln'. Approach to Fundraising We are committed to practisin9 the hi hest standards and we take care to ensure all our fundraising activities refPect the hospice values. We are registered with the Fundraising Regulator and as such monitor ourselves against their recognised standards ensuring that all our fundraisin the Fundraising Regulators Code of Fundraising Stan activity complies with ards. 18 KEY RISKS & UNCERTAINTIES Fundraising Complaints Once a durin9 t ain we did not receive any complaints about our fundraisin9 activities e year. We strive to always act ethicall and responsibly, using best practice when communicatin with our su por ers, and we strictly adhere to General Data Protection Regu ations (GDP processes in relation to data usage. How We Protect Vulnerable People and Members of the Public: All our su orters are treated as individuals, and we have policies and systems in place or ensuring that vulnerable people are recognised and treated accordingly. We adhere to the Fundraising Regulator's Code of Practice and the Fundraising Promise We promptly action any requests for removal from our database We never sell or pass on the data of any of our donors and supporters to any third parties under any circumstances We only work with professional fundraisin Ragencies who can demonstrate a proven track record of best practice In t e sector and compliance with the Fundraising Regulator How we work wlth and oversee any commorclal partlclpators I protosslonal fundraisers: This is fully covered within our policies which are supported b operating procedure which includes a formal agreement tha within our Governance Framework. a standard is monitored Conformlng to Fundralslng Regulatlons Compllance is managed by our Income Generation and Marketing Director and is governed through our Risk Management Governance Committee. This ensures that fundraising activity is fully compliant with legislation and regulations, and we have internal policies which reflect these. We have a risk mana ement policy so as to minimise or as far as it Is reasonably practicab e eliminate an risks to atients, staff or volunteers, supporters and members of the pub ic in rela ion to our fundraising activity. Staff identify and assess risks and put necessary preventable controls in place. 19 KEY RISKS & UNCERTAINTIES Plans for Future Sustainability '2023124 was year one of our 3 year strategy which takes us to March 2026., Our priorities describe the plans we have for future sustainability. We review and update them annually. We identified 4 priorities: Peo bes l• - we will invest in and support our staff and volunteers to be the they can be Care- we will continue to innovate and develop our services to meet the needs of our diverse community Digital optimisatlon - we will ensure that our IT infrastructure and systems are robust and provide digital solutions to the delivery and reach of our services Sustalnablllty- we will manage our charity efficlently and effectively to ensure long term sustainability We tracke es 5-8 our performance against these priorities throughout the year (see and scoped out our green Initiatives for further development in g°94125. 20 PLANS FOR FUTURE SUSTAINABILITY statement of Trustee Responsibilities The Trustees (who are als directors of The East Lancashire Hospice for the Eurposes of company law are responsible for preparin the Trustees, Annual eport (including the Strategic Report) and the financia statements in ccordance with applicable law and United Kingdom Acc unting Standards United Kingdom Generally Accepted Accounting Practice The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial ear which give a true and fair view of the state of affairs of the charit andoft e incoming resources and application of resources of the charity or 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 2019 (FRS102) Make judgements and estimates that are reasonable and prudent State whether applicable UK accounting standards have been followed Prepare the flnancial statements on the goin concern basis unless It Is inappropriate to presume that the charity wil continue In operation The trustees are responsible for keeping proper accounting records that time the financial position of the disclose with reasonable accuracy at anKe f charity and enable them to ensure hatt inancial state ents comply with the Charities Act 2011, the Charities Accounts and Reports Re ulations 2008 and the provisions of the trust deed. They are also responsible or safeguarding the assets of the charity 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 compan 's auditor is unaware and the Trustees have taken all ste relevant au s that they ough¥to have taken to make themselves aware of any it information and to establish that the auditor Is aware of that information, 21 TRUSTEE RESPONSIBILITIES Structure, Governance & Management Governlng Document The charity is a charitable company limited by capital Is exempt from the requirement to use t name. uarantee and not having share e word "limited" as part of its It is overned b on2 a memorandum and articles of association and was incorporated th April1919, to take over from Ist July1999, the activities of the East Lancashire Hospice Fund, an unincorporated association which was originally founded In1981. The charity was entered in the Central Register of Charities with effect from 24th May1999 and accepted by HM Revenue and Customs as a charity for tax purposes. Recrultmont and Appolntmont of Truste•s On 31st March 2024, the Board of East Lancashire Hospice was made up of11 trustees who are all registered volunteers. One trustee retired in October 2023 after nearly 41 years of service to the hospice. Recruitment is undertaken via a formal, inclusive process and positions are advertised In a targeted way to meet the skill mix and diversity needs of the Board. Potential candidates are invited to apply by CV, and a formal process takes place Including an Interview with a panel of trustees and the CEO. Trustees are ap period for a furt ointed for a term of three years and may be re-elected after this er three years. Trustee induction consists of an induction p.ack which incorporates key information on the charity and the responsibilities of being a trustee. The induction process provides op ortunities to meet Heads of Department and staff and volunteers to gain a grea er understanding of the hospice. Trustees are also sup assist them in their ro orted to attend appropriate external training events that will e. They also undertake mandatory training. Organlsatlonal The Board of Trustees have continued to meet on a monthly basis to direct and mana for set e the governance of the hospice. The trustees have ultimate responsibility Ing the strategic direction of the hospice and their role is to ensure that the hospice Is financially viable, well run and that it meets the needs for which it was set up. ACEOisa pointed by the Board to mana supportelby a Senior Leadership Team. T e the daily operations of the hospice ey all have predetermined levels of authority. Matters such as policy, strategy and budgets are prepared for consideration and approval by the trustees who then also monitor the Implementation of these plans. 22 STRUCTURE. GOVERNANCE & MANAGEMENT Heads of Department are responsible to the appropriate Senior Leadership Directors, who are responsible to the CEO who is In turn responsible to the Board of Trustees. In 2023124 we chan overnance commi ed our governance structure. We reduced the number of tees from 4 to 3. Each governance committee Is chaired y a Trustee who reports already to the Board. Each governance committee is responsible for monitoring its own risks. The change continues to be embedded. The governance committees are: Clinical Governance Committee- CLGC Finance Governance Committee- FGC Corporate Governance Committee- CGC They are supported by 2 sub-committees: People and Culture reporting to CGC Income Generation and Marketing reporting to FGC The membership of each committee consists of trustees, Senior Leadership Directors and Heads of Department who have been selected for their particular skills, experience and knowledge. We recruited and appointed 4 new Trustees. They were formally voted on to the Board at our Annual General Meeting in October 2023. Related partles and Cooperatlon wlth Other Organlsatlons We continue to work collaboratively with our partners at the ICB, across the system and at Place - all to improve the services, experience and flow of what we do for our patients. We have continued to work with artners in the community. As re we joined a collaborative called Fancashire and South Cumbria orted earlier ospices Together at the outset of Covid19 and the collaborative has continued to flourish - it gives greater strength to the collective voices of10 hospices In our region and ensures that we are always represented and that we are part of system development. We are also members of Hospice UK which Is a national membership body for the sector. Ke members of staff continue to be involved in local, regional and national ne works which su mutual support in ort the sharing of best practices, benchmarkin and he everchanging and challenging landscape of Rospice care. 23 STRUCTURE, GOVERNANCE & MANAGEMENT Pay Policy for Staff All our Trustees are volunteers and give their time freely. They received no remuneration In the year and nor have they claimed any expenses. The Trustees continue to consider the CEO and the Senior Leadership team to be the key management In the hos and operating the charity on a Ice, In charge of directing, controlling, running ay to day basis. All taff are remunerated according to the res (JD . JDS are reviewed annually as part of the onsibilities of their job description ersonal Development Review process - which every member of the team is part of. All staff includin and other bene the CEO and SLT receive the same cost of living Trustees. Its of employment which are agreed annually by he Board of In 2023124 after consultation with staff and the formation of Task and Finish Groups, we refreshed and improved our benefits and wellbeing package. Our benefits package can be viewed here www.eastlancshosplce.org.uk/work- for-us-employee-benefits. Our Staff and Volunteers The hos ice is committed to e values care, listen, res ect an ual opportunitles in everything it does. Our continues to mean tha work together) are central to all we do. This we seek to ensure that anyone who comes into contact with us is treated fairly, appropriately, and with respect and dignity. Our staff and volunteers are important to us. Every single one of them played a vital role In hel year. Without t Eing patients, families, the public and ea em, we couldn't do what we do. In 2023 h other throughout the gifted the equivalent of £420,000. 24 our volunteer army In 2024 we began to scope out the framework for a volunteer recrultment and retention strategy - to be consulted on internally and launched in 2025. We continued to be proactive in gaining feedback from our staff and volunteers. We re-designed the annual staff survey and provided our volunteers with their own surve We saw an improvement in sta which was more appropriate to their needs. and volunteers who took the survey and continue to use their feedback to Improve our services and operations. Our quarterly Tea n Toast event is a testament to how this can work in practlce the agendas might be drawn from an Issue raised in the staff survey as well as being a mechanism for building trust and of Trustees often attend these sessions as we ood communication. Our Board 24 STRUCTURE, GOVERNANCE & MANAGEMENT Auditor Following the merger of MHA Moore and Smalley with MHA, the charitable company's independent auditor has now become MHA. The auditor, MHA, is deemed to be reappointed under section 487(2) of the Companies Act 2006. This report, which incorporates the Strategic Report, was approved by the I S OLEiltr IOL4 board of Trustees on ........................... . and signed on its behalf. Mr F G Parr- chalrofTrust￿9 25 STRUCTURE. GOVERNANCE & MANAGEMENT Independent Auditor's Report Oplnlon We have audited the financi 'parent charitable company, I statements of The East Lancashlre Hospice (the March 2024, which com and its subsidiary (the'group,) for the year ended 31 Consolidated Balance S rise the Consolidated Statement of Financial Activities, eet, Charity Balance Sheet Consolidated Cash Flow statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accountin Financial Reporting Standard applicable in the standards, including FRS102 'The K and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: Give a true and falr view of the state of the group's and parent charitable compan and app s affairs as at 31 March 2024, and of the group's incoming resources ication 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. Basls for oplnlon Wec nducte our audit in accordance with International Standards on Auditing (UK) EISAS (UK%) and applicable law. Our res further described in the Auditor's responsibi statements section of our report. We are independent of the f roup and parent charitable comrany.in accordance with the ethical requiremen s that are relevant to our audit o 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 suff icient and appropriate to provide a basis for our opinion. Concluslons 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 proup's or parent charitable company's ability to continue as a goin concern financial statemen or a period of at least twelve months from when the s are authorised for issue. onsibilities under those standards are ities for the audit of the financial 26 INDEPENDENT AUDITORS REPORT Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. other Information The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not ex form of assurance conclusion thereon. Our responsibility is to read the ot ress any er 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. Oplnlon on other matters proscrlbed by tho Companlo$ Act 2006 In our opinion, based on the work undertaken in the course of our audlt: and the directors report) for the financial year for which t the strategic report The information glven In the trustees, report (incorporatinRe f inancial statements are prepared is consistent with the financial statements The strategic re accordance wit ort and the directors, report have been prepared in applicable legal requirements. In the li ht of our knowled charita le com e and understanding of the group and parent eir environment obtained in the course of the audit, we have not identi led material misstatements in the strategic report or the directors, report. Matters on whlch we are requlred to report by oxcoptlon We have nothln the Companies to report in respect of the following matters in relatlon to whlch ct 2006 requires us to report to you if, in our opinion; Adequate accounting records have not been kept b the parent charitable company, or returns adequate for our audit have no een received from branches not visited by us The parent charitable com with the accounting recor ianys financial statements are not in agreement s and returns Certain disclosures of directors, remuneration specified by law are not made We have not received all the information and explanations we require for our audit. 27 INDEPENDENT AUDITORS REPORT Responslbllltles of trustees Asex lained more fully in the trustees, responsibilities statement, the trustees (who area so the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for bein satisfied that they give a true and fair view, and for such internal control as trustees determine is necessary to enable the reparation of financial statements that are free from material misstatement, whefher due to fraud or error. In preparing. the financial statements, the trustees are responsible for assessing the parent charitable compan applicable, matters relate s ability to continue as a going concern, disclosing, as to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. Audltor's rosponsibllit108 for tho audlt ot the flnanclal stat•m•nts 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 audit conducted in accordance with ISAS (UK) will always detec uarantee that an 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 reasonabl be expected to influence the economic decisions of users taken on the basis of ¥hese financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We desi9n to detect material miss rocedures in line with our responsibilities, outlined above, atements in respect of irregularities, including fraud. The specific procedures for this en£agement and the extent to which these are capable of detecting Irregulari ies, Including fraud, Is detailed below: Enquiries with management about any known or suspected instances of non- compliance with laws and regulations Enquires with management about any known or suspected instances of fraud Review of minutes of board meetings Examination of journal entries and other adjustments to test for appropriateness and identity any instances of management override of controls Review of legal and professional expenditure to identify any evidence of ongoing litigation or enquiries Review of the systems for recording income, and testing of a sample of income transactions throughout the year to check they have been recorded in the accounts and in the correct period Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. 28 INDEPENDENT AUDITORS REPORT This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also 9reater re Involves In arding irregularities occurring due to fraud rather than error, as fraud entional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audlt of the financial statements is located on the Financial Reportin Council's website at: www.frc.org.uk/auditorsresponsibili ies. This description forms part of our auditor's report. Use of r•port This re ort Is made solely to the charitable companys members, as a body, in accor ance with the Chapter 3 of Part16 of the Companies Act 2006. Our audit work has been undertaken so that we mi ht state to the charitable company's members those matters we are requiredlo state to them in an auditor's report and for no other purpose. To the fullest extent ermitted by law, we do not acce t or assume responsibility to anyone other than t e charitable company and the c aritable company's members as a body, for our audit worl for this reporL or for the opinions we have formed. J3OEr Jack Stoer BA(Hons) ACA Senior Statutory Auditor For and on behalf of MHA, Statutory Auditor Preston, United Kingdom 2* ockthxr 201* MHA is the trading n England and Wales me of Maclntyre Hudson LLP a limited liability partnership in registered number OC312313). 29 INDEPENDENT AUDITORS REPORT Financial Statements Tho East Lancashlre Hosplce Consolidated Statement of Financlal Actlvlties (Including Income & Expenditure Account) For th• Y•ar End•d 31 March 2024 Unr••trl¢t•d D••lgnat•d R•strf¢t•d Totalfund• Total lundi fund• lund• funds 2024 2023 Not• Ineom• from Donatlons and l•gacl•*: Donatlons and glfts Legocles 241,872 423,763 241,872 423.763 288,720 182,775 Charltabl• actlvltlos: Cllnlcal Commlssionlng Groupsl Integrated Core Boord Othor grants Caterlng ond other Incomo 1.601.292 1,801.292 1.601.292 66,823 108.888 19.5215 76.348 108.888 130,324 101,633 oth•r tradlng actlvltl•*: Goods tor rosale Fundralslng 8vants Lottery Shop 17.973 435.702 353,282 275.518 17.973 43S.702 353.282 276.518 20,731 391,409 399,081 268,121 Inv•stm•nt• 182.5152 182.5152 101991 Total Ineom• 3.677.848 19.62S 3,697.170 3,487,077 Exp•ndltur• on Ralslng fund$ Charltabl8 octlvltlo8 726.920 3.718.522 725,920 3,723,761 717.001 3,298,204 5.239 Total •xp•ndltur• 4,444.442 5.239 4.449.681 4,015,205 N•t Incom•l{•xp•ndllur•) bofor• oth•r galn• and lo•••• (786.797) 14.288 (752.511) {528,128) Galnl(1088) on Inv08tments N•t In¢om•l(•xp•ndltur•) for th• y•ar 1.297.778 1,297.778 (387,685) BJO,981 14.288 1546.267 (916.813) Transfars between funds (557.500) (26,079) 557.SOO N•t mov•m•nt Inlund• 557.500 14,286 045.287 (915.813) R•¢onclllallon of funds: Total funds brought foTh•Krd 16.294.352 3.118 15.297.470 16,213,283 Total fund¥ carrl•d forward 15,267,833 557.500 17.404 15.842.737 15.297,470 All ot the above results are derived from continuing octiviti8s. All galns and losses reco9nised In the year are Includad above. The result for the year for Companles Act pur of unrealised profits and losses on investments and wos a de oses comprises the net Income for the yaar net pages 34 to 50 form port of these financial statements. icit of £752,511 (2023- £528,128). The notes on 30 FINANCIAL STATEMENTS The East Lancashlre Hospice Consolidatad Balance Sheet Al at 31 March 2024 Unr•¥trlcled D•*lgnat•d R•¥trlct•d Total lund* Total lund¥ funds lunds lund* 2024 2023 Not• Flx•d as*•ts Tanglble flxed a8S8t8 Investments 12 1.462.114 13.079.353 1.462.114 13.079.353 1.524,331 11,715,144 14.541.467 14.641,467 13,239,475 Curr•nt a¥*•ts stock Debtors Cash on bank deposlt Cash at bank and In hond 6.0215 242.435 344.307 981.102 6.026 242.435 344,307 1,15156.006 7,083 207.157 321,760 2,305,841 14 657.500 17.404 Cr•dltor•: amounts falllng due wlthln one yeor 1.073.869 (847,1503) 1557.500 17.404 2,148,773 1841,821 (847.503) (783,826) N•t curr•nt as••t• 728.368 1557.500 17,404 1.301.270 2,057,995 N•t a•Mts 111,267.833 1557.500 17.404 15.842.737 15,297,470 R•pr•••nt•d by. Total funds 15.207.831 1557,500 17,404 15.842,737 15,297,470 1 S OLk443-￿IY These flnancial statements were approved by the Trust88s on..... on thelr behalf by: . and slgnod Mr F O Parr- Chalr ol Tru•t••• Mr P Hlnnlgqn- Tru•t•• 31 FINANCIAL STATEMENTS The East Lancashire Hospice Charlty Balance Sheet AS at 31 March 2024 Unr••trlct•d D••lgnatod R••trl¢t•d Total fund¥ Total lundg fund• fund• fund• 2024 2023 N•1• Flx•d a8S•t• Tanglble flxed as$et8 Investments 12 IJ 1.440.680 13,079.4153 1.440.880 13.079,453 1,497,263 11,715.244 14.520,133 14,1520.133 13,211507 Curr•nt a•s•ts stock Debtor8 Cash on bank deposlt Cash at bank ond In hond 15,250 281,434 344,307 049.732 5.250 281,434 344,307 1,1524,636 5.250 268,479 305,880 2,305,841 14 1567.500 17.404 Cr•dltor¥: amounts falllng due wlthln one year 1.580.723 (841,201) 1557.500 17.404 2.IBS.027 2,875,250 (841,201) (770,299) N•t eurr•nt a8••t• 739,622 8157,600 17,404 1.314.420 1104,951 N•t aii•t• 15.259,8515 B157.000 17.404 15.834,1559 15,317,458 R•pr•4•nt•d by: Total funds 15.259,668 1557.600 17.404 15,834.6159 15,317,458 As p8rmltted by s408 Com statement of financlal activ anies Act 2006, the charitabl8 compony has not presented It$ own tles and related notes. The charltable company'$ surplus for the year was £517,101 (2023.. deficit of £923,855). These flnanclal statements wer8 approved by the Trustees on Is ocLTkw 20¥ thelr behalf by: and slgn8d on MrFGParr-C r of TrustM• Mr P Hlnnlgan- Tru•t•• Company r•gl•lratlon number 03755216 (England and Wol••) 32 FINANCIAL STATEMENTS The East Lancashlre Hospice Consolldated Cash Flow Statement For th• Y•ar Endod 31 March 2024 2024 2023 N•t Incom•l(•xp•ndltur•) for th• year Adjustments lor. Inv•stm8nt Income (Galn)Iioss on Investments Dopreclotlon Prollt on dlsposal of flxed 088et$ (Increose)Idecreaso In stock (Increase)Idecrea$e In debtori Increas81(d8¢reas8) In credltor8 N•t ¢a•h (u••d In) I provld•d by op•Yatlng a¢tlvhl•• 1545.267 (915,813) (162.552) (1.297.778) 100.611 (102,991) 387,685 116,208 (1,200) 8,348 198,767 (44.616) 1.038 (35.278) 83.677 (785.iis) (356.614) Ca•h Ilow• Irorn Inv••tlng actlvltl•8: Investmont Income Pur¢hu8e of tangible flxed as8Ot8 R•¢alpt$ from Sales of flxed as8•t8 Purchose of Inv8stment3 Proceeds from sale of Investments Movement In cash held a$ Inve$trnent8 102.ISS2 (38.294) 102.991 (29,426) 1,200 (1,072,817) 948,679 78,876 1,013.598 (3,373) Not ¢a•h {u8•d In) I provld•d by Inv••tlng actlvltl•• B7.827 29.604 Chang• In ¢a•h and cash •qulval•nt• In th• y•ar Cash and cash •qulvalent$ at the beglnnlng of the year (727.288) 2,827.801 (328,110) 2.953.711 Ca•h and eagh •qulval•nts at th• •nd ofth•y•ar 1.900.313 2,827,801 Analys1• ol ca•h and ea•h •qulval•nt• Cash In hand Ca8h at bank 3.188 1,897,1215 7,660 2,625,941 1,900.313 2,627,601 Total group cash and cash gqulvalentg Includgs a totol of £557,500 (2023: £nll) relatlng to daslgnoted funds and £17,404 (2023: £3,118) rolotlng to restrlcted funds. 33 FINANCIAL STATEMENTS Notes to the Financial Statements l Accounting policles Company Information The charity constitutes a limited company, limited by the Companies Act 2006, incor uarantee as defined by office is as stated on page 50. orated in England an Wales. The registered e members of the company are the Trustees named on page 50. In the event of the company being wound up, the liability in respect of the guarantee Is limited to £10 per member of the company. Basls of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting b.y Charities: Statement of Recommended Practice applicable to charities standar 2reparing their accounts in accordance with the Financial Reporting Financi applicable In the UK and Re l Reportin standard a ublic of Ireland issued In October 2079, the le in the United Kin Ireland FRS102), t e Charities dom and Republic of General ct 2011, the Companies Ac2 2006 and UK y Accepted Accounting Practice. The financial statements have been prepared under the historlcal cost convention, with the exception of investments which are included at market value. The East Lancashlre Hospice meets the definition of a public beneflt entity under FRS 102. The Statement of Financial Activities (SOFA) and balance sheet consolidate the financial statements of the charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The charlty has availed itself of Paragra Medium-sized Com h 4(1) of Schedule l of the Large and 2008 and adapted t anies and Groups Accounts and Reports) Regulations e Companies Act formats to reflect the s ecial nature of the charity's activities. No separate SOFA has been presented for the charity alone as permitted b Section 408 of the Companies Act 2006. The parent com £517, Foil¥ 's result for he 023: deficit of £ ear for Companies Act purposes was a surplus of 23,855). Oolng concern The trustees are required to assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast si continue as a going concern. nificant doubt on the ability of the charity to he Trustees make this assessment in respect of a period of at least one year from the date of authorisation of the accounts. At the date of approving these accounts, the trustees have a reasonable expectation that the charity has sufficient cash resources to enable It to meet Its liabilities as they fall due for at least l? months from the date of approval. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 34 FINANCIAL STATEMENTS Fund accounting General funds are unrestricted funds, which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds are set aside by the Trustees out of unrestricted general funds for specific purposes or projects. Restricted funds are those to be used in accordance with specific restrictions imposed b donors or which have been raised by the charit for particular e cost of raising and administerin9 such funds are c ar he specific fund. The aim and use of each restricted fund Is set out in ed against e notes to the accounts. Income Income is recognised when the chari has entitlement to the funds, any performance conditions attached to t e item income have been met, it is probable that the income will be received an the amount can be measured reliably. Income from government and other grants, whether'capital, rants or'revenue, grants, is recognised when the chari has entitlement to the unds, any erformance conditions attached to he grants have been met, it is probable that e income will be received and the amount can be measured reliably and Is not deferred. For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, he estate has been finalised and notification has been made by the executor to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's Intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the grantin reco f, of probate, and the criteria for Income nition have not been me isclosed if material. then the legacy Is a treated as a contingent asset Income received In advance of an event or provision of other specific p.rovision of other specified service it is deferred until the criteria for income recognition are met. Trading income is recognised at the fair value of the consideration received or receivable for oods and services provided In the normal course of business, and is shown net o VAT and other sales related taxes where applicable. Income from the sale of goods is recognised when the si nifica t risks and rewards of ownershi goods), t of the goods have passed to the uyer usually on dispatch of the e amount of revenue can be measured reliably, it is robable that the economic benefits associated with the transaction will flow to e entity and the costs incurred or to be incurred in res ect of the transaction can be measured reliably. Lottery income is accounted for when received, to the extent that the company has a right to consideration arising from the performance of Its contractual arrangements. Interest on funds held on deposit is included when receivable and the amount can be measured reliabl b the charity; this is normally upon notification of the interest paid or payable he Bank. 35 FINANCIAL STATEMENTS Donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the Item, any conditions associated with the donated item have been met, the recei t of economic benefit from the use by the charity of the item is probable and fhat eco reliably. In accordance with the Charities SORP omic benefit can be measured FRS102), no amounts are included in the financial statements for services donated by volunteers. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the would have been willing to pay ift to the charity which is the amount the charity o obtain services or facilities of equivalent economic benefit on the open market. a corresponding amount is then recognised In expenditure In the period of receipt. Expendlture Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, It Is probable that settlement will be required and the amount of the obliga ion can be measured reliably. All expendlture is accounted for on an accruals bosls and has been classified under headings that a£gregate all costs related to the category. Where costs cannot be directly attri uted to p.articular headings they have been allocated to activities on a basis consistent with the use of the resources. Detailed analyses of the expenditure, including irrecoverable VAT where applicable, are provided In the notes to the accounts. Tangible Ilxed assots Tangible fixed assets costin cost including any incidenta more than £1,000 are capitalised and included at expenses of acquisition. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected economic lives as follows: Short leasehold building.improvements - over the period of the lease Fixtures, fittings and equipment - over 5 years Investments Investments are Initiall reco measured at their mar etva nised at their transaction value and subsequentl ue as at the balance sheet date. The statement o financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on Investments are calculated as the difference between sales proceeds and their openin% carryin9 value or their purchase value If acquired subse losses are calcula uent to the first day of t e financial year. Unrealised gains and and their carr ed as the difference between the fair value at the year end combined in t value. Realised and unrealised investment gains and losses are tatement of Financial Activities. stock stock is included at the lower of cost and net realisable value. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed, on the basis that It Is considered impractical to measure the fair value of goods donated for resale, and the costs of valuation outweigh the benefit to users of the accounts and the charity of this information. 36 FINANCIAL STATEMENTS Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Creditors Creditors are reco nised where the charity has a present obligation resulting from a past event t at will probably result in the transfer of funds to a third party and the amount due to settle the obli9ation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. Flnanclal Instruments The charity only has financial assets and financial liabilities of a kind that quality as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Operatlng leases Ilcable to o erating leases are charged to the SOFA on a straight line e lease. basis over Ponslons The company o erates a defined contribution pension scheme. The assets of the scheme are he d separately from those of the company in an independently administered fund. Contributions payable for the year are charged in the SOFA.The company also contributes to a multi-employer defined benefit scheme. As the proportion of the fund attributable to The East Lancashire Hospice cannot be calculated this scheme has been treated as If It was a defined contribution scheme. Taxatlon The company is a registered charity and therefore exempt from taxation. Oovernment grants Government grants are recognised at the fair value of th8 asset received or receivable when there is reasonable assurance that the grant conditions will b8 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 ssecify performance conditions It Is recognised In income when the procee s are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. Judgement8 and keysources otestlmatlon uncertalnty In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 37 FINANCIAL STATEMENTS The estimates and underlying assumptions are reviewed on an ongoin basis. Revisions to accounting estimates are recognised in the period in whic the estimate Is revised where the revision affects only that the revision and future periods where the revision affec eriod, or in the period of s both current and future periods. The Trustees do not believe that there are any estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities. 38 FINANCIAL STATEMENTS The East Lancashire Hospice Notes to the Financlal Statemants (continued) For th• Y•ar End•d 31 Mareh 2024 Incom• Unr•rtrlct•d fund• R•8trlct•d lunds 2024 Donatlon• and l•ga¢l•8: Donatlons and gllts Legacles 241.872 423.763 241.872 423.763 Charltablo actlvltlos: Cllnlcal Comml8$lonlng Groups other gronts Caterlng and other Incomo 1.801,292 56,823 108,888 1.601,292 76,348 108.808 19.525 oth•r tradlng actlvltl•s: Goods for resale Fundralslng events Lottery Shop 17.973 435,702 353,282 275,518 17.973 435.702 353,282 275.518 Invo•tm•nt• 182,552 162,B82 3,677.64S 19.152B .897,170 Unr••trl¢l•d lund• R••lrf¢l•d lund¥ 2023 Donatlon• and l•gacl•*: Donatlons and glft8 Legacles 288,720 181775 288,720 181775 Charltabl• actlvltl••: Cllnlcal Comml88lonlng groups other grant$ Caterlng and other Income 1,601.292 120,324 108.633 1,601,292 130,324 101,833 10,000 Oth•r tradlng a¢tlvlll••: Goods for resale Fundralslng ovent8 Lottery Shop Inv•8tmonts 20,731 391,409 399,081 268.121 20,731 391,409 399,081 288,121 102.991 102.991 3A77,077 io.000 3,487,077 39 FINANCIAL STATEMENTS The East Lancashlre Hospice Notes to the Flnancial Statements (contlnued) For th• Y•ar End•d 31 March 2024 Exp•ndltur• Dlr•¢l co•t¥ Support co8t• (not• 4) 2024 Expondltur• on ral*lng funds: Goods for resale FundralsSng events Lottery Shop Investment managemont costs 11,326 284.114 96,636 247,352 34,264 1.33• 32,140 18,749 12.68B 318.254 115.385 247.352 34,264 073.6•2 152.228 726.920 Exp•ndltur• on charltabl• a¢tlvltl••: H05plce (note 5) 3.240,31B 483.443 3,723,781 3.914,010 835,671 4.449.081 Dlr•ct Support eo•t• (ngt•4) 2023 Expondltur• on ral•lng lund•: Goods lor resale Fundralslng event$ Lottery Shop Investment management CO8t8 8,992 281.519 94.053 260.079 27,721 8,203 310,587 iii,011 280,079 27.121 29.068 16,958 669,764 47,237 717,001 Exp•ndltur• on charltabl• actlvltl•s: Ho8plce (nota s) 1860.967 437.237 3,298,204 3,530,731 484,474 4,015,205 All oxp8ndlture on ralslng funds wa$ unrestrlcted In the current and prevlous year. 40 FINANCIAL STATEMENTS The East Lancashire Hosplce Notes to the Financlal Statements (contlnued) For th• Y•ar End•d 31 Mareh 2024 Support costs 2024 2023 Salarlas Motor ond travel Prlntlng and statlonery Postag Telephone Computer support other 8tatt costs Sundry exponga8 427.375 418,136 386 9,187 13,204 18,999 26,828 (3,048) 782 11.094 17.399 24.388 42.578 8,039 4,742 1535,671 484,474 Exp•ndltur• on ¢harltabl• actlvltl•• - Hosplc• Ho• pall Ic• and ¥p•elalls•d v• car• ••rvlc•¥ 2024 2023 Salarlos Tralnlng & racrultmont Property costs Provlslon ol care 8ervlc08 Repalrs & molntenance Motor & travel Sundry Decpreclatlon Irrecoverable VAT Governance costs (note 8) Support costs allocated 2,612.138 40,871 143,353 186,654 87,018 9,557 36,618 92,777 9,039 23,920 482,807 1313,277 43,137 91.670 131,539 79,457 10,996 38,690 108.508 8.566 35.811 438,753 3.723,761 3.298,204 Expendlture on charltable actlvltle$ was £3,723.761 (2023: £3,298.204) of whl¢h £3,718.522 was unrastrlcted (2023: £3,289,749) and £5,239 wa8 restrlct•d (2023: £8.455). Oov•rnanc• cost• 2024 2023 Audlt Trust88s' liability Insuronce Legol and professional feeg Support costs allocatèd 11,750 423 11.220 636 10,250 423 24,454 484 23,929 35,617 41 IIFINANCIAL STATEMENTS The East Lancashiro Hosplce Notes to the Flnancial Statements (contlnued) Forth• Y•ar Endod 31 March 2024 N•t Incom• 2024 2023 stated rjfter charglng.. Depreclotlon Operatlng leases Audlt f88 charlty and consolldotod account8 Audlt fee - SLtbsldlary 100, 511 61.979 9.060 1700 716.208 58,022 7,900 2.350 Analy*l• of •tofl co8t•, Trust•• r•mun•ratlon and •xp•n•••, and co•t of k•y manag•m•nt p•r•onn•l 2024 2023 Payroll co•t• w•r• Wages and salarles So¢lal securlty Costs Penslon cogts 1819.342 250.054 216.823 1665,000 228,774 204,028 3.286.219 2,997,802 Th• numb•r ot •mploy••8 who8• r•mun•ratlon for th• y•ar •xc••d•d £80.000 was: 2024 2023 £80,000 to £69,999 £70.000 to £79,999 £90,000 to £99.999 Of th8 employees whos8 ramunerotlon exceeded £60.000, there18 one employee (2023: one) accrulng benellts under dollned beneflt penslon schemes. Th8 Trustees were not pold or rgcelved any othgr benellts from 8mployment wlth th• charlty or Its subsldlary In the year (2023: £nll) nelthèr were they r8lmbur$•d expenses durlng the year (2023. £nll). No ¢harity Trustee recelvod payment lor protesslonol or other Sorvlces supplled to the charlty (2023: £nll). Trustees made donatlons to the charlty totalllng £1,688 (2023.. £60). The key management personnel of the group comprlse the key staff Identlfled In tho Truste88' Annual Roport. The total employ00 benefits of tho koy management Porsonnel of tho group were £332,597 (2023: £309,475). staff number• avera fundro e month sing sta hoad co ,and16 17 nt was 125 staff (2023.118 staff), ￿Ing 94 (2023.. 84) care staff.15 (2023: 2023- 17) admlnistration staff. io R•lat•d party tran•actlons There were no related purty tran9actlon$ during the current or prior yeor, aport from any dlsclos•d above rgloting to the Trustogs. 42 FINANCIAL STATEMENTS The East Lancashlre Hosplce Notes to the Flnanclal Statements (contlnuod) For th• Y•ar End•d 31 March 2024 I I P•nslon commltments The charity particlpates In a multl-amployer deflned beneflt sch8me, oporated through the Natlonal Health Servlce. Th8 assets of the scheme or8 held separately by the National Health Service Superannuatlon Scheme. Contributions to the scheme ore charged to the statement of finoncial activitles as these are Incurred. This pension scheme does not hov8 a r801 pension fund but, os a statutory scheme, b6n8fits are fully guaronteèd by the Government. Contrlbutlons from both members ond 8mploy8rs are pold to th8 Exchequer, whSch meet the cost of IncreasSng benefits each year by the rate of Inflatlon. Thls extra cost Is not met by contributions trom scheme members and employers. As a result of th8 nature of the pansion scheme, there are no separately Identifiabl8 assets and Ilabllltles whlch can be Identlfled as ralatlng to The East Lancashlre Hosplca. Thar8for8, as perrnltt6d by FRS102, the scheme has been accounted for as a d8flned contrlbutlon sch8me. The charlty also operates a stakeholdor deflned contrlbution schemo. The total contrlbutlons made durlng the year repr8S8nt contrlbutlons to th8 funds of £216,823 (2023: £204,028). At the year end the charlty had outstandlng contributlons of £24,876 (2023: £28,244). 12 Tanglblo Ilx•d a*••t8 Short L•a8ehold Flxtur••. Charlty Subsldlary Total Flxturo$. Bulldlng Equlpmgnt Flttlngs, Improv•- & Motor Equlpmont m•nt• v•hlcl•8 & Motor Group Total v•hl¢l•• Cost At l Aprll 2023 Additions Dlsposals 4,221,719 582.816 36,194. 4.804.535 36,194. 67,871 2,100. 4.872,408 38,294 At 31 March 2024 4,221,719 •i•.oio 4,840.729 69.971 4.910.700 D•pr•clatlon At l April 2023 Charge for th8 year Ellmlnated on dlsposols 2,796,112 59,443 511,180 33,334 3,307,272 92,777 40.803 7,734 3,348,075 100,511 At 31 MaT¢h 2024 2.8145.PJlS6 544.494 3.400.049 48.537 3.448,580 Net book valu• At 31 March 2024 1,368,184 74,516 1,440,880 21.434 1,462,114 At 31 March 2023 1.426.607 71.656 1.497.263 27,068 1.524,331 All tanglble fixed assets relate to unrestricted funds In both 2024 and 2023. At the year end there wer8 capital commltments of £16,971 (2023: £20,981). 43 FINANCIAL STATEMENTS The East Lancashire Hosplce Notes to the Flnanclal Statements (contlnued) Forth• Y•ar End•d 31 Mareh 2024 13 Flx•d as•ot Inv•stm•nts GTOUP 2024 Chorlty 2024 2023 2023 Investments In subsldlary compani88 Other Inv8stmonts loo 11.715,144 13.079.353 100 13.079.363 11.715.144 13.079.353 11,715,144 13.079.453 11,715.244 All flx8d asset Inve8tm8nt$ r•loto to unrestrlcted funds In both 2024 and 2023. Inv••tm•nt• In •ub•ldlary cornpanl•• The charlty owns the whole of the Isgu8d $haro capltal of The East Lancashlro Ho$plce Shops Llmlted (company number 04660703). whlch Is In¢oiporated In England and Wal0$. Tho $ub51dlary Is used for non-pflmary purpose trading, namel the sale of donated goods through saveral shops. All actlvltles hove been consolldated on a Iln• by Iln sls. In the oplnlon of the Tru$tee& tho Investment In the charlty's subsldlary undertakln amount at whl¢h It18 Stat•d In the tKJlan¢e $ho8t ol £IOO. A summary of th8 results 0$ show below. 1$ VK*rth at loa$t tha or th8 tradSng company 2024 2023 Turnover- shop sales Cost of 8ale8 275,B18 18.498 268,121 (21,742) Oro8• proflt 257,020 246,379 Admlnlstratlve expon808 other operatlng Incomo Prolltl(lou) lor th• y•aY Amounts gtrt alded to charSty (228.8B4) (238.337) 28,186 8,042 R•taln•d profitl(lo•s) forth•y•ar 28,166 8,042 R•laln•d •arnlng• brought lonvard (19,988) (28,030) R•taln•d •arnlng• carrl•dlorward 8,178 (19,988) The oggrggatg of the assets, Ilabllltles and funds of The East Lancashlre Ho$plce Shops Llm5ted Flxed assots Curront assets Current liabilitie8 21.434 52.725 65.881 27,068 50,423 (97.379) Fund• 8,278 (19,888) 44 FINANCIAL STATEMENTS The East Lancashire Hosplce Notes to tha Flnancial Statements (continued) For th• Y•ar End•d 31 March 2024 13 Flx•d as8•t Inv•8tm•nt• (contlnu•d) oth•r Inv•¥tm•nts Oroup and ¢harlty 2024 2023 Morket valua As at l Aprll 2023 Addltlons Disposals Movement In cash depo$lt$ held a8 Investments Change In market valua 11.715.144 1,578,666 (1.513.598) 3,373 .297.778 12,057,567 1,072,817 (948,679) (78.876) (387.685) A• ot 31 March 2024 13,079,363 11,715,144 Ll8ted Investrnonts are roprosanted by: Oroup and Charlty 2024 2023 Flxed Intera8t Equltle8 Altornatlves Property Investment trust and unSt trust Cash 084.860 2,099,004 369,711 37.248 9,799,740 98.782 702,282 1,815.938 482,280 75,718 8,743,545 95,401 13,079,363 11,715,144 14 D•btor• Charlty 2024 2024 2023 2023 Trado d•btor8 Pr8paym8nts and accrued Incomo Amounts owed by group undgrtaklngs VAT recoverablo 9.182 117,099 78,411 75,223 9.182 140,980 59.579 71,693 76,411 45.578 83,852 62.638 75.554 55,523 242.435 207,157 281.434 258,479 All debtor8 relate to unre8trlcted funds In both 2024 and 2023. 45 FINANCIAL STATEMENTS The East Lancashlre Hosplce Notes to the Financial Statements (continued) For th• Y•ar End•d 31 March 2024 1 S Credltors: amounts falllng du• wlthln ono year Charlty 2024 2024 2023 2023 Lottery payments In advance Accruals and deferred incom6 Trade creditors other taxes and soclal securlty 43.953 626.393 123.122 54.035 46,722 602,464 81.401 53.239 43,953 820.528 122.886 64.035 46,722 596.653 73,685 53,239 847.503 783,826 841.201 770,299 All credltors relate to unr8Strlcted funds In both 2024 and 2023. 18 Fund• RoStrlct•d lundi Brou ht forwar at 31 Mor¢h 2023 Incom• Exp•ndltur• Oaln•. 101808 and Carrl•d forward at 31 March 2024 Support & Wellbelng Fund Co-op Communlty Fund pu locllltlos Re¢llner Appeal Chrlstmas Event Fund Muslcal Instruments Fund Wellbelng Fund 484 1,024 1,830 484 1.024 (1,630) (i.oooj (1109) (500) 15.918 1,000 2,109 600 15,gia 3.118 19,525 (5,239) 17.404 Purpo•• of th• r••trl¢t•d fund•: The Support & Wellbelng Fund Is a potlent donatlon for patlent actlvltles. Thls had not been spent at th8 year end. The Co-op Local Communlty Fund was fundlng recelved for the cholr. Thls had not been spent at the year and. The IPU facllltles fund was a donatlon from The Fort Foundation to be used towards new facllltles wlthln the Inpatient Unit. This was spent durlng the year. The Recliner Appeal Fund ore public donations received for recllner cholrs and overbed tables to be used In each room on IPU. Funds had not been spont at the 31 March 2024. but the it8ms had been ordered. They were dellvered In May 2024, therefore funds have been fully spent after th8 year end. The Christmas Event Fund r8lat8S to donations recelved from Cardboard Box Company for Hosplc8 Staff and Creative and Support Therapies patients, and was fully spent In the year. The Musical Instruments Fund was donated by a donor. 46 FINANCIAL STATEMENTS The East Lancashire Hospice Notes to the Financlal Statements (continued) For th• Yoar End•d 31 Mareh 2024 16 Fund• (¢ontlnu•d) Purpo¥• ofth• r••trl¢t•d lund• (contlnu•d) The Wellbelng Event Fund relates to a donatSon roc•lvod from Sènator Internatlonal, and was spent on events throughout Wellbelng Wee Unr•¥trl¢t•d tund• Brou lorwar 31 March 2023 ht In¢om• Exp•ndllur• Oaln•. Carrled lorward al and tran•l•r• 31 Mar¢h 2024 Unrestrlctod fund Non-charltable tradlng 15,314.340 (19,988) 3,402,127 275.518 (4,197,090 (247,352 740,278 15.259.655 8.178 15.294.352 3,677,645 (4A44,442) 740,278 115.287.833 D•slgnat•d lund8 Brought forward In¢om• Exp•ndltur• Oaln• Carrl•d lornardlrt and tran•l•r• 31 Mar¢h 2023 31 March 2024 IT Investment fund Retall expanslon lund Brond project fund New webslte lund 2024125 malntenanco plan 250.000 175,000 52,500 60,000 30,000 200,000 1714,000 B2,500 so.000 30.000 557,500 567.600 Purpo•• of th• d••lgnat•d lund•: Deslgnated funds are $8t oslde by the Trustees out of unr6strlct8d general funds for SPgclfl¢ purposes or projects. A transfer of £557,500 has been made from unTestrl¢ted funds to deslgnated funds to refloct that the Trustees hove set asld• omounts as at 31 March 2024 os follows: IT Investment lund - th1$ Is for a 3-year Investment In IT In¢ludlng the flr8t year of dlgltal transformatlon Retail expanslon fund - thls Is to expand from 5 to 15 shops Includlng the costs of setting up th• new shops Brand projgct fund - thls Is for a brand redesign In¢ludln9 tha roll-out Naw webslte fund - this is for the redeslgn of the website 2024125 maintenance plon- thls Is for malntenance works Sn 2024125 Includlng 50me $p8clfl¢ Itom$ ol planned expenditure 47 FINANCIAL STATEMENTS The East Lancashire Hosplce Notes to the Financial Statements (continued) For tho Yoar Endod 31 Mareh 2024 Fund•- prlory•ar R••trl¢t•d fund• Brou Incom• Exp•ndltur• Galn lo•¥•• and tran•l•M Carr torwar at 31 March 31M 2023 Support & Wollbelng Co-op Communlty Fund IPU facllltles 464 1,109 404 1,024 1.630 (85) 18370) io,000 1,673 10.000 (&455) Unr••trlct•d fund• Brou lorwa al Mar¢h 2022 ht In¢om• Exp•ndltur• Oaln•. 1048• an Carr lorwar 31 March 2023 Unrestrlcted fund Non-chorltoble tradlng 18,239,740 (28.030) 3,208,966 268,121 (3,748,671 (260.079 (387,885) 14,34 19.888 16.211.710 3,477,077 (4,006,750) (387,885) IB,284,31J2 17 oporatlng l•aso commltm•nts At 31 Mor¢h 2024 tho group had future mlnlmum lease pcryment8 under non-cancolloble oporatlng lease8 as set out below.. Landand bulldlng• 2024 2023 Amounts due vlthln one year Amounts dug betweon one and five years Amounts due after Ilvg yoars 34.671 80,239 50,379 116,911 3,999 120.910 171,289 48 FINANCIAL STATEMENTS The East Lancashlro Hosplce Notes to the Flnanclal Stat8m8nts (contlnued) For tho Y•ar End•d 31 Mareh 2024 18 Anaty•ls of nota•••ts bylund a) Curr•nty•ar roup O•n•rnl UThr••trl¢t•d D￿19nqt•d R•￿rtct•d #alwK••t Fund• Fund• Fund¥ Tonglblo flxad assets Investmants Current assets Creditors folllng due wlthln one year 1.402.114 13.079,353 1,573.869 (847,503) 1.462,114 13,079.353 2,148,773 (847,503) 6157.500 17.404 15.267,833 557,500 17.404 16.842,737 Company ¢l•n•r•l Unr••trld•d D••lgnql•d Fund• Fund• R••trlct•d Fund• gulan￿al37 Mar¢h2024 Tonglble flxod a$8ets Inv85tment8 Current assets Credltors falllng du8 wlthln ono year 1.440,680 13.079.453 1.580.723 {841.201) 1.440.680 13,079.453 2.1SS,827 (841.201) 17.404 1557.BOQ 15.259,8BB 1557,800 17,404 15.834,IJBg b) Prlor y•ar Or•up a•n•ral UnMrtrfd•d D••lgnal•d AMtrl¢t•d •qlane•al31 Fund• Fund• Fund• Mar¢h2024 Tanglbl• Ilxed 088èts Investments Current assets Credltors falllng due wlthln one year 1.524,331 11.715,144 1838.703 (783,826) 1.1524,331 11,715.144 2,841,821 (783.826) 3.118 16.294,352 3,118 15.297,470 Company Unv••irkt•d D•¥￿Th￿•d R••trf¢t•d D414ne•al)I Fund• Fund• Fund• Mar¢h2024 1.497.263 n.716.244 2,872.132 99 Tangible flxed assets Investments Current ossets Creditors falllng due v41thin one year .497,283 11,716.244 2,876.260 770.299 3.118 15.314.340 3.118 15.317.458 49 FINANCIAL STATEMENTS Administrative Information Trust••8 Mr F G Parr - Chairman of the Board r R J Sutlieff - Vice Chair and Chair of Corporate Governance Committee appointed as Vice Chair October 2023) rs R A Pallister - Secretary resigned and retired October 2023) Mr T Kennedy - Vice Chair (resigned as Vice Chair October 2023, remained a Trustee) Mr Y Jan Vlrmani Mrs G M Leacy Mr l M Willock Mr D McDonough Mrs L Roblnson - Chair of Clinical Governance Commlttee (formally voted onto Board October 2023) r l Hafeji formally voted onto Board October 2023) r P Hinnigan - Chair of Finance Governance Committee formally voted onto Board October 2023) r S Almond formally voted onto Board October 2023) K•y rnanag•ment (at 318t March 2024): Chlef Executlve and Secretary to Board - Miss H Barrett Medical Director - Dr K Hogarth Clinical Services Director - Mrs C Evans Income Generation and Marketing Director - Mrs N Hanna Registered charity number1075653 Company number 3755216 Tax exemption number XR 32869 Registered office number: The East Lancashire Hospice Park Lee Road Blackburn BB2 3NY Tel: 01254 965830 Auditor: MHA Chartered Accountants & Statutory Auditor Richard House Winckley Square Preston PRI 3HP 50 ADMINISTRATIVE INFORMATION