Charlty reglstratlon number 1078186 Compary regi$tratlon number 03821527 {England and Walgs} GREAT OAKS HOSPICE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 GREAT OAKS HOSPICE LEGALAND ADMINISTRATIVE INFORMATION Trustees S Wlliams RGN IChaiTI Dr S R Shanna MB Bch. MA ICant8bl, MRCGP {Medical Oirec*orl H Aldridge FCIH LAdridge G C Capps FC G J D Ellis LLB A Robinson J Shamia MBA Dr E L Husbands MBChB. MRCPIUK), PgDip Ethics Can￿r & Palliative Ca S R Lewis S9crgtary G C Capps Charlty number 1078186 Company number 03821527 Regtslered officg Great Oaks The Gorse Coleford Gloucestershire GL16 8QE Auditor Griffiths Marshall 20 Neweme Street Lydney GIOU￿$ter$hI GL15 5RA BankeryJ CAF Bank Ltd 25 Kings Hill Avenue lfjngs Hill West Malling Kent ME194JQ Lloyds Bank PIC 55 Neweme Street Lydney Gloucestershire GL15 5RA GREAT OAKS HOSPICE CONTENTS Pago TTUStees' reF4Yt statement of trustees. resFongts1￿eS Independent auditorfs rewrt 8-10 statement of finar#ial activibes 11 Balance Sheet 12 Statement of cash flows 13 Notes lo the financial statements 14-30 GREAT OAKS HOSPICE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 The trustees present their report and accounts for the year ended 30 September 2IT23. The organisalion is a charitsble company limited by guarantee, Inco￿)rated on 6 Augusl 1999, and registered as a charity on 12 November 1999, originally under the name Dean Forest Hospice In November 2020 resolution was passed lo change its name lo Great Oaks HOsp￿e and to adopt rls presenlArtides ofAgsocialion which sel out its charitable objects and rts powers and govem the operabon of the Hospice. The accounts have been prepared in accordance wrfh the aC￿Unting policies set out in note to the accounts and comply with the Charity's Act 2011, the Compan*s Aci 201% and 'Ac¢ounb"ng and Reporti'ng by Chantie3.' Statement of Recommended Practice applieable lo charities p￿Paring their accounts in accordance with the Financial Reporting Standard appltcable in Ihe UK and Republ￿ of Iieland IFRS 102} leffective 1 January 2015}. The Iruslees, who are also the director5 for the purpose of ojmpany law, and who served during the year and up to the date of signature of the finanaal statements ￿re. S Wlliams RGN (Chairl Dr S R Sharma MB Bch, MA (Cantab), MRCGP {Methcal Diredor) H Adridge FCIH LAdridge G C Capps FCMA G J D Ellis LLB C F Hawkins M Paterson A Robinson J Sharma MBA Dr E L Husbands MBChB, MRCPIUK), PgDip Ethics Cancer & Palliative Care SRLews (Resigned 1 September 20231 (Resigned 21 March 20231 Objectives and activtties The Gompany is a charity and 15 estsblished for the care of ￿r$On5 Suffering from any kx)tentially life limiting illness thin the available resoure*s of the charrty and for the support of their families and friends whether before or after the death of such persons. Public Benefit statement Al our charrtable a￿"v￿.e$ ft￿$ on providing support and care for people who are living with polenlialty lile limiting illness. This is delivered on an individual basis addressing the needs of eath person u&ng Hospice servi￿$ which indudes their farnilies and fn"ends. We also offer training and suppxjrt to heatth and social care professionals may be involved in the care and support ol people using the hospice 5ervi¢es. È encourage the use of the Hosp￿ faUl￿eS, under speafic arrangemerrts, by groups vthose work is allied lo hospice care lo enable people lo access their support locally. People in the cornmunty are encouraged lo offer their help through volunteering erther lo raise tharita￿e fvnds vla our shops and fundraising activities or by directly supporbng people using Hospice seryices undw the supervision of qualified staff. l the above directy tenefft the pubiic ¥￿thOut finanual cost to any individual. GREAT OAKS HOSPICE TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Hosplce Achlevements and perf0m￿ne8 Great Oaks Hosiice offers a wde range of support for peot4e in the Forest of Dgan, vhw) are aged 18 and over, who are INing wlh or supporting someone who has a lrfe limiting illness. We are also unique in our offer of support for those in our ￿)MMUnIty who have been Bereaved through any cause. Each service has something drfferent to offer aNI has grown in ris pro￿s￿n. Ilbeing Centre- The Wellteing Centre assesses the hrAith needs ofthe indNidual. focAJgng on ￿ÈIlbern9 and Adapts'on for patients vkno are suffering from a life limrting illness lo atter retain their Independer￿ as far as powble. This is prowded Ihrough various sessions within the Hospice induding ￿È1lbe1ng Sessions. Coffee Momings, and a Walking Group. Bethending- The Befriending Service is prowded by volunteers who pro￿de cornpany in Iheir homes lo those who are isolated due lo their illness or those they are supwb"ng. Family SupportTeam- Prowde counselling lo patients and their earers and prwde p￿ and post Bewvement support. The team also has Social Worker and Carers Lead who provides supm wth finances. beneffts. and housing. They 81s0 run a Bereavement Café and Bereavement Supwt GrC￿pS Complementary Therapy- The team provide one lo one or gri)up sessions in a hybiid manner to patients, carers and those who have been bereaved to support their physical and mental wellbe¢ng as well as prowding pampef day sessions lo those who are caring for sorneone vAth a Itfe limth.ng illr*s5 or have been bereaved. Communty Support- OUT Community Team support people in their ovm homes who are liwng wih a ITfe limiting illne$s. They bridge the gap be￿en the patients and profes5wJna15, gJppth"ng people with low levd need, giving support wlh future care planning, and ensuring resources a￿ in pla￿ for end of lrfe care. The team support people lo live their lrfe lo its full ¢2pacty and adapt lo theii changing abilthes. The Comrnunty Team V￿rk dosety wih the Hospice at Home team I supwrt the Irangtion of care. Hospice al Home~ Our nurses and carers prowde end of lrfe care to Feople in their own homes, supporbng them and their support nehyork to enable thern lo die at home, whilst %w)rknng alortsJwde other extemal Ajlied Health Professionals lo ensure the best possble care provision. During this finanual year, we have received 494 Referrals. on lop of the caseloads that were already in place. have spent 6,251 hours in patients own homes, providing their end of lrfe care and enabling Ihern to die al home. In January 2023, wlh support from the Gloucestershire Inlegraled Care Board. we have moved to an electronic records system. This has had a pN)silive impact throughout the organisation. are now in a stronger position in temis ofac￿$$ing patient records, Communicat￿ is improved be￿en other exiemal services and our Information Govemance is stronger. The greatest benefit Is for the person accessing our services. a$ we spend more time with our pats'ents due lo reduced adMinistrab'￿. The nurnber of peO￿e accessing all Hospice Servi￿ eonb.nues lo increase as does the ￿MPlexIty of need for those using our services. The scope of these services has also intre85ed enabling g￿ater depth of care from Hospice staff and volunteers, often in liaison vthh statutory seN1￿$ and outside agencies. GREAT OAKS HOSPICE TRUSTEES, REPORT ICONTINUED}{INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 We are extremely grateful lo our volunteers who play a Significant role In the sU￿eSS of Great Oak8 and in 2022123, 128 volunteers gave more than 29,500 hour8 of lime lo support the hospi￿ Services and the retsil am of the organisalion. Retail The Hospice operates four retail prernises in Coleford, Lydney, Milcheldean and Newenl, having closed one in Cinderford lo relocate lo a preforred location in the town. We have refurbished Lydney during the year with sales and profil increasing significantly and upgraded our Coleford shop. We aro looking lo reopen a shop in Cinderford lo lake us back 19 5 shops lo support the Hospice and the cornmunily. The shops are highly profitable, providing a significant percentage of the funding required lo deliver our Hospice services. Ml shop volunteers are supported by the Retail Manager and Volunteer SupportAssislanl. Plans for the Future Great Oaks plans lo continue all ils services subject to satisfactory funding arrangements. Should funds pernil, we would also consider widening the Kope of the care provided to include.. Growing the community reach of all services Setting up hubs of support around our geography Continued expansion of the Hospi￿ al Home Team lo support more patients and families dLfring the day and al night Building up our community service AJI of which will be following our strategic aims and goals, as illu51raled below. Irision Whotwe willdo... pkn Valtsés In 202312024 Great Oaks wll.. Implement a new donor database lo better communicate with our supporters and donors. Look to open a new shop in Cinderford. Continue to be actively involved in the development of the new End of Life strategy for Gloucestershire working wth our sister Hgspice providers in the county. Raise awareness of the services offered by this Hospice and the support available in a manner that helps the community overcorne the psychological barrier of'hospice. caie and the images and myths this generatss. Engage with the local Integrated Care System in negotiations around their funding of specsfic hospice setvices. Consider gaps in services and support which will be further explored and considered in line with our strategy. the Hospice remit and core philosophy. GREAT OAKS HOSPICE TRUSTEES. REPORT {CONTINUEDI(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Financlal revlew During this last year the effects of the Covld p8ndemlc have had a much smaller Impact on how thè Hospice wa8 run than in recent years and the financial results were more In line with those produeed in tho pre Covid era. Again in the year of £363,000 was very largety affected by the receipt of a legacy which in total amounted to £470.000. In most years we receive a lew legacies. bul this is only the second lirne in the Hospice's history that we have received such a large amount. The nel income from both our shops and fundraising again managed to exceed fofecast. Grants and dtsnations from people and local businesses also played IheiT part in producing the frjnds which we need to enable us lo continue to prowde all our se￿￿$ to our community. None of this would be possible wilhoui the great input from our staff. This year the Hospi￿ employed 61 people in total, however. since many work part lime, this was achieved with a fvll Urne equivalent of just 18 employees. On top of th81, wherever you look al our activities, they are all t￿mendOuslY supported by the 128 volunteers who came and did so much work wilh us and for us in the year. This number does not indude the thousands of people who during the year have visited our shops or supported the mU￿r(ude of ath'vilies which we put on. We certainly are extremely fortunate to receiv6 such marvellous support from the Forest and our wder locality. Reserves Policy The directors use the Reserves Policy to.. Ensure that the level of reserves held confimis that the Hospice is in a strong position to meet individual one-off projects and support unpredictable and unforeseen costs that may arise. Oversee the use of the reseNes in line with the purpose ft>r whith they were set. Investments Pollcy Investments are held with the sole airn of geneT*'ng a financial retum which will be applied lo present and future charitable purposes while remaining available for expenditure when deemed necessary. We have recently appointed new finanaal advisors, Rathbones, who have now been with us for the whole of this last financial year. We hold regular meetings wlh them when our dis¢LJssions cover the spread of our investments and in particular, we make sure that they follow our requirements for these inveslrnents to be as ethical as reasonab￿ possible as well as spread over a wide range of companies and countries through Cautious portfolios. Ethical screenlng and environmentsl, soclal and govemanee IESGI a. The Hospice seeks an ethical, sustainable, and socially responsible investment process when selecting investments, in addition to the objective of achieving a competitive financial relum. b. Great Oaks Hospice's policy is lo not hold investments in companies that derive more than 10% of their lumover frorn the following activities I'negalive screening criteria'l Tobacco Fossil fuel extraction or distribution Icoal, oil, ga$) Gambling Illegal deforeststion Pornography cohol Anll-personnel landmines, cluster bombs and biologlcal and themical weapons GREAT OAKS HOSPICE TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 . The Hospice only invests in companies V*ilh a str£￿9 En￿rOnmental, Social & Govgmar7ee I'ESG perforrnance, as identified by an intemationally recognised accreditsb"on, so thai the impad ofthe Inveslrngnls 1$ better than the neutral slalus that the negative screening 8pproach above ￿11 yield. The Trustees, policy is lo ddegale responsibilty fw the eXer(j￿ng of rights 8ttached to investmerbts to the Investment Manager. sk Revlew The Iru51ees have assessed the fflai￿ risks lo wthich the tharity is exposed, and systems and Pl￿edureS have been established lo mitigate those risks. Recruitment and appointment of dlre¢toryJ (frustegs for Charity Law) Should vacanaes mir in the Board of Directors. new director5 are appc¥nl&J follo￿"nY interview and the usual reuuitment checks. Volunteers in the Hospice Volunteers are an integral part of all Hospice srns indudirvJ our shops and are invaluable lo Great Oaks. Our BoaTd of Directors are all volunteets vtho give ￿"1 tsme and ￿$&l￿al expertise to the oberall management and strategic direction of the Hospice. The role of volunteers within the Hospi￿ is lo suKwt the qualffied 51aff in their spe¢ffic roles. Volunteers y￿￿n9 directly with people using the Hospice undergo a basic training u)ur5e followed by a probationary period under supervison. The range of volunteei roles ￿nb"nUeS lo increase and diversify. Our Great Oaks Hospice shops have been idenbfigj a$ Lw"ng some ofthe most pwfftable across the counlry. Without the ongoing and committed suppNt of all our voluntee￿, Great Oaks would rtol exist in the way il dces and would not be able to develop ac(y)rding to the idenbfied needs of this community. Their resolute generosity is Ihoul parallel. The Hospice is aJ80 widety supported by a significant number ol local busnesses fDr which we are very grateful. Oryanlsational Structure This year we have welcomed gur new CEO Joe Feeley, has a weath of experience hawng previousty worked in the HospicE sector and in retsil. We welcome Joe to the team. During 2022-23 Great Oaks Hosw'ce has employed 61 people of vthich, 24 are banklsessional staff who mainly support the Hospice al Home service. However, most staff are not employed on a full-lime basis and during the year the Hospice ran y￿th 18 full time equNalenl IFfEI staff & 4 bank1seS￿onal FfE staff. As well as the staff employed by thè Hospice during last year, there were 128 volunteers lindudir#J the Board wl are all volunteers) vtho help vthh the running of the shops. events, our garden, and some of which hwe direct patient contact. Trustees, Icgether vrith the Chief Exe￿bve of the Hospice. make up the Board of the Hospice. The Board is supported by a number of committees all of which are chaired by a Trustse and repgrt directy lo the Board. These Committee$ and their Chairs (full names for eathl fw 2023r24 were.. Finance- Geoff Capps Inveslmenl-man Robinson Quality- Roy Sharma Health & Safety-Aan Robin50n HR- Julie Sharnia Inlomiation Govemance- Emma Husbands GREAT OAKS HOSPICE TRUSTEES, REPORT {CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Auditor Gnffilhs Marshall has expressed their wningness lo conlinue as auditors, and will be proposed fw re-appointment. The trustees, report was approved by Ihe Board ofTrustees. G C Capps FCMA Trustee Dated: 23April 2024 GREAT OAKS HOSPICE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023 The trustees, who are also the directors of Great Oaks Ho$￿ce for the puTrose of company law. a￿ responsible for preparing the Trustees, Report and the finanaal slalemenls in accordance wlh appli¢able law and United Kingdom Accounting Standards Iunrted ￿"ngdoM GeneraltyAccepted Accounting Practice). Company Law requires the trustees to prepaTe finanual stslements f¢x each financial year which gwe a true and fair view of the stale of affairs of the tharity and of the incoming resources and application of iesourcEs, in¢luding the income and expenditure, of the charrtable company for that year. In preparing these finarrial statements, Ihe Irustee$ are required lo.. - select suitsble aCt￿jn11n9 polioes and then app￿ thern ￿sisten￿y,. - observe the methods and principles in the charib.es SORP,. - make judgements and estimates that are reaSona￿e and prudent." ar¥J - prepare the finanual statements on the going concem basis unless rt is inappropri*e lo presu￿ that the charity 11 continue in operation. The Iruslees are responsible for keeping adequate accounling records that disdose wrth reasonable accuracy al any lime the finanaal position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also resrx)n5ible lor safeguarding the assets of the charity and hence for tsking reasonable stgps for the prevention 8nd deteth.on of fraud and other irregularities. The trustees are responsible for the maintenance and inlegnty of the charty and financial infomialion induded on Ihe charity's website. Legislation in the United Kingdom goveming the prepar*'on and dissemination of financial statements may differ from legislation in olherjurisdicb"ons. GREAT OAKS HOSPICE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF GREAT OAKS HOSPICE Oplnlon We have audited the finanryal slalernenls of Great Oaks Hospth (the 'charityl for the year ended 30 September 2023 whid) comprise the slalement of finanual acbvibes. the balan￿ sheel. the slalemenl of cash fiows and notes lo the finanaal slalements, induding ggnifieant ac£ounting pdiaes. The finanoal rewrbng frarnework that has been applied in their preparats.on is ap￿1¢able law and Unrted lfjngdorn Accounting Stsndards, induding Finanual Rewrts"ng Standard 102 The Financial ReWing Standanl applicable in the UK and Republ￿ of Ireland (United Kingdom GeneraItyA￿pled AccountiThJ Prathcel. In ovr opinion. the financ¢al sL*ments'. give a true and fair wew of the stale of the charitsNe eompanls affaits as at 30 Septemter 2023 and of rts incoming ￿sourceS and application of Tesource$. ￿ the yearthen ended: have been properfy prepared in aclxrdanee wilh United ￿ngd￿ Generalty Pttepted Accounting Pradits,. and have been prepared in accoTdm wlh the requirements ofthe Cornpaniesknt 2006. Basls for opinlon È conducted our audit in accordance vthh Intemabonal Standards on Audthng IUK) IISA5 IUK>} and applieable law. Our respongbilities under those stsndards are fvrther dewbed in the Audrtofs ￿SpOnsIbl1￿￿e8 for the audit ol the financ￿1 slatemenls Seth.￿ of our report. ￿ are independent of the charty in accordance wlh the ethical requirements that are relevant tr) our audit ol the finatxial staternents in the UK, induding the FRC'S Ethical Standard, and we have fvlfilled our other elhical ￿ponSi￿1[beS in ￿)rdan￿ these requirements. We beSieve that the audit ￿ence we have obtained is suffiaent and aKpropri3te lo provide a basis for our opinion. Concluslons relating to going concern In audrting the financial statements, we have conduded that the Intstees, use of the going con¢em basis of accounting in the preparation of the financial slaternents 1$ approwate. Based on the work we have perfO￿e￿. we have not identTfied any material Un￿rtaIn￿'eS relating to events or conditions that, individualty or collectively, may cast %gnffi¢ant doubl on the charity's ability to continue as a going concem for a period of al least fv*lve months from when the financial ststernents are authorised for issue. OLtr responsibilthes and the respjnsits'lthes of the trustees with respect lo goiThJ oy1￿M are described in Ihe relevant sections of this reporL othgr Infonnatlon The other infofmation comprises the infcfftiation induded in the annual Teport other than the fina￿la1 ststements and our audilorfs report Ihereon. The twstees are resFonsible for ¢he other information contained wthin the annual report. OUT opinion on the financial slalemenls does not cover the other infomi*"on and we do not express any form of assuran￿ condusion Ihereon. Our ￿ponsibIlty is to read the other infonnation and, in doing so, cOn￿der whether the other infomalion is rnaterialfy inconsistent vthh the finanaal statements or our knovledge obtsined in the course of the audit, or Othe￿Se appears to be matwialty rnisstated. If we ￿entity such material inconsislenues or apparent malenal misslalernenls, ￿ are required lo delerrnine ￿ether this gwes rise lo a rnate￿I rnisstalernenl in the financial stslemenls themselves. If, based on the wjrk we have performed, we condude that there is a material misstatement of this other infomation, we are required to reprmt that f&1. have nothing lo ￿port in Ihis regard. Matters on whl¢h we are required to report by exceplion We have nothing to report in resfft of the fd1ov￿ng matters in relab.on to ￿ld) the Chanlies (Accounts and Reports) Regulations 2008 require us to rwrt lo ytyj rf. in our opinion.. the infomation given in the finanual stalernents is In1))rNs￿ in any material resFeCt wid) the trustees, report.. or $Lrfficienl accounting rec£Jrds have not been kept.. the ffinanual staternen15 are not in agreement wilh ￿ acc￿jnbng records". or w8 have not rewveil all ￿ infrKmation a￿1 etyanalions we require forour auth GREAT OAKS HOSPICE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GREAT OAKS HOSPICE Responslbllltles of trustsgs As explaine20% per annum straight line basis The gain or loss arising on the disK%)sal of an asset is tjelermined as the differen￿ betr￿en the $3le pr￿ed$ and the carrying value of the asset, and is re￿nised in the stslement of finanaal activitie5. Investments are stated at the pertod end mid-market value. Unrealised gains or losses are recognised in the Statement of FinarwlActivrties 1.7 Impairment of fixgd assets Al each reporting end dale. the tharity rewevrt the carrying amounts of ils tsngible assets to deletmine whether there is any indication that those assets have suffered an irnpairment loss. If any such indration exists. the recoverable amount of the asset is e5b"mated in order to determine the extent ol the impairment loss {rf any). 15- GREAT OAKS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Aecountlng pollc16S (Contlnuedl 1.7 Impalrment of fixed a$￿ts Recoverable ameunl is the higher of fair value less costs lo sell and value in use. In asgessing value in use, the estimated frjture cash flows are discounted lo their present value using a pr&tax discount rate that refiecls current rnarkel assessments of the time value of money and the risks sr*afic to the asset for which estirnales offtrture c4sh flows have not been adjust&l. If the recoverable amount of an asset is eslimaled to be less than its carrwng amount, the carrying anb)unl of the asset is reduced lo its recoverable amount. An impainnent loss is recognised immediately in incomel {expendItU￿ for the year, unless the rèlevant asset is carried al a revalued arn￿nt, in vA)i¢h case the impairnenl loss is treated as a ￿Valuat￿)n decrease. Recognised impaiment 5osses are reversed rf, aThJ onty rf. the wsons foT the impaimient loss have ceased lo apply. ￿e[e an impa1￿￿ent loss subsequenyy reverses. the ￿￿1ng amount of the asset is increased to the Tewsed estim*e of ils recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impaimient kjss is reeognised imm&Ji8lely, unless the relevant asset is carried in at a Tevalued amounL in whth case ts feversal of the Impaimienl loss is treated as a revaluatrjn increase. 1.8 Stocks st￿ks are stated at the lo*w of c05t and eslimaled sdliThJ price less ￿$ts to corn*le and sell. 1.9 Cash and cash equlvalents Cash and cash equivalents indude cash in haTrJ, deFQPAts held at cajl W￿th banks, other short-lemi liquid investments with original maturthes of three months or less. and bank overdrafts. 1.10 Flnancial Instruments The charity has elected to apply the provisrons of Section 11 'Basic Finan(ial Instrumènts. and Section 12 'Othef Finanaal Instruments Issues, of FRS 102 to all of rts finanual instruments. Financial instruments are reeognised in ihe thaT1￿S balance sheet when the tharity become5 paty to the contractual provisions of the instrument. Finanual assets and liabiltties are offset, the nel amounts presented in the finanaal statements, when there is a legally enforceable right to set off the recognised amoun15 and there is an intention to settle on a net basis or to realise the a55et and setue the liabilty slmulianeou￿y. Basic finanaal assets, which include debtors and cash and bank balances, are In￿allY measured at transaction price induding transaction costs and are subsequenuy (3rried al amortised eosl using the effeth've interest method unless the arrangement constrtutes a finanong transaction, where the transaction is measured al the present value of the ftrture receipts diseounled at a market rate of interest. Financial assets dassffietl as receivable wtthin one year are not amorts"sed. Other financial assets, including investments in equity instwrnents ￿1¢￿ are not subsidiaries. associates or joint ventures, are initially measured al fair value, which is nomially the transaction price. Such assets afe subsequenlty carried at fair value and the changes in fair Value aTe recognised in nel incomellexpenditure), except that investments in equty instnJmen15 that are not wblidy traded and vthose fair v81ues c2nnot be measure(I reliably are measured at cost less impainnent. The net gain or loss recc•Jnised in profil or loss indudes any dr¥idend or Inte￿$t eamed on Ihe finanryal asset. 16- GREAT OAKS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accountlng pollcles Icontlnuedl Bas1 B8sic financial liabilities. including creditors and bank loan8 are initially rgcognised al transaction pri¢e unless the arrangement constilules a financing transaction, where the debt instrument is rneasured al the present value of the future payments discounted al a mafkel rale of interest. Financial liabilities cla88thed as payable within one year are not arnorn'sed. Debt inslrurnenls are subsequently earned al amortised cost, using the effective interest rate method. Trade creditors are obligations lo pay for goods or servi￿$ that have been acquired in the ordinary course of operations frorn suppliers. Amounts payable are classified as current liabilth'es il payment is due wlhin one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction price and subse9uenly rneasured at amortised cost using the effective interest method. 1.11 Employee bgnerts The company makes contributions lo a defined contribution NHS pension scheme and a defined contribution scheme under auto enrolmenl. The assets of the schemes are held separately from those of the company in independently administered funds. The pension charge represents the amounts payable by the company lo the scheme in respect of the year. Any unpaid contributions are included in creditors. 1.12 Irrecoverable VAT Irrecoverable vat inputs are recognised as a charitable activty expense and included in the costs lo help run and maintain the Hosp￿. Critical accounting estlmates and Judgements In the application of the charity's accounting policies, the Iru51ees are required lo 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 lo be relevant. Actual results may differ frorn these ests'males. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is ievi5ed where the revision affects LKIY that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donatlons and lega¢les Unrestrlctfrd Restrlcted funds funds 2023 2023 2023 2022 Donations and gifts Legacies receivable Grants receivable Other e4,831 543,881 37,500 45,323 64,831 543,881 56,657 45,323 167.156 19.157 46.603 691,535 19.157 710,692 213,759 For the year ended 30 Septsmber 2022 128,153 85,606 213,759 17- GREAT OAKS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Donatlons and 1ogacl•s {ContInu￿) Unrwlrfct•d R••trfct•d lund• fund• 2023 2023 2022 Donakn"ons and gffts Florence Shute Whitehead Inrnan Charty FOD Rolary Club CCG brighl Charbable Twst Gordon Gray Trust Grant Masonic Charitable Foundation T￿)Ma$ Home Memorial Tnjst Regular Donabon Sthemè 26,834 49.290 S,¢)00 s,000 4,500 76,106 1,C4)0 3.000 1.000 6,500 3,704 12.056 7.891 Olher dcffiati(￿S 64.831 167.156 Charltable actlvltlos Hospice Home service Covid fundlng Total 2023 Total 2022 Services provided under contract Covid-19 grants & fijrtough scheme income 285,769 285,769 333,193 151.144 285.769 285,769 484,337 Analysis by fvnd Unre51ricted funds Restrided ftlnds 137,028 148.741 137,028 148.741 285,769 285,769 For the year •nded 30 September 2022 Unrestricted funds Reslrided fijnds 133.608 199,585 151.144 284.752 199,585 333.193 151,144 484,337 18- GREAT OAKS HOSPICE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Other tradlng activitles Unrestrlctsd funds Total 2023 2022 Fundraising events Shop incom& 166.220 465.427 114,482 381,647 Other trading activibe5 631.647 496.129 Inve5tm9nts Unrestricted fvnds Total 2023 2022 Rent81 income Interest & dividends frorn shares Interest receivable 5,540 21.235 4,356 5,340 1,540 1,039 31,131 7,919 Other incomo 2023 2022 Nel gain on dispgsal of tsngible fixed assets Other income Insurance clairns 14,917} 6,710 15,050 9,005 42,882 1.793 66,937 19- GREAT OAKS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Trading Costs 2023 2022 Rent Water Rates General Rates Insurance Electricty and Gas Repairs and Renewals Depreciatson Fundraisiro Other 52.299 55,034 1,431 2,318 2,255 11,150 26,355 9,004 28,124 72.909 766 17,748 30,311 13,456 54.250 171.173 148,580 fovo Joa io r O) UJT5 or cc GREAT OAKS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 10 SupFK*rt costs Govemance costs 2023 2022 Audit fees Legal and professonal Bank charges & sundry costs Management of investrnenl charges 3,580 48,195 4.523 3,716 3,580 48,195 4,523 3,716 3,420 25,032 339 1,038 60,014 60,014 29,829 Analy5ed between Chariiable adivilie5 60,014 60,014 29.829 11 Trustees None of the trustees lor any persons conneded with them) received any remuneration, expenses or benefits trom the charity during the year. GREAT OAKS HOSPICE NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2023 12 Employees Number of employees The average monthly number of empl¢)yees during the yearwas" 2023 Number 2022 Number 24 37 Employees 24 33 61 57 Employmgnt costs 2023 2022 dges antj salaries Soaal security costs Other pension costs 747.340 53,191 24.865 665,712 49.201 20,993 825,396 735.906 During 2022-23 Great Oaks Hospice has employed 61 people12022- 57 people) of which, 24 are bankl sessional stsff12022- 24 staffj who mainly support the Hospi￿ al Home service. However, most staff are not ernployed on a ful￿tIme basis and during the year the Hospice ran wth 18 full bme equivalent IFTEI staff (2022- 15 staff) & 4 bankJsessK)nal FTE stsff12022- 6 staffj As well as the staff employed by the HOs￿¢e during last year, there were 128 volunteers 12022 - 162 volunteers} {induding the Board vtho are all volunleersl help wth the running of the shops, events, our garden, and some ofvthith have direca pab.enl conW. The number of employees vthose annual remuneration was £60.000 or mo were.. 2023 Number 2022 Number £60,000- £70,000 13 Net galnsl{105sesl on investments 2023 2022 Gainlllossl on investrnenls {2,6051 191,8501 14 Taxatlon The tharity is exempt from tax on incorne and gains falling wthin seclion 505 of the Taxes Ad 1988 or seth'on 252 of the Taxats"onof Chargeable G8inskt 1992 to the extent trbal these are applied to its charitable objects. a) 47* r r in L ouj (o o 17) GREAT OAKS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 16 Investments At 1 Odober 2022 Investments puithased Cash invested Managernenl charges Unreali5ed gainslllossesl on investments Realised gainslllossesl on investrnents 540,170 21,235 300.000 13,7161 1,053 {3,658} At 30 September 2023 855,084 17 Stocks 2023 2022 Finished gofras and gc*Jds for resale 6,348 4,027 18 Debtors 2023 2022 Amounts falllng dug wlthin one year. Trade debtors Other debtors Prepayments and accrued income 83,420 27,365 37,482 78,463 11,322 32,550 148,267 122,335 19 Crgditors: amounts falling due withln one year 2023 2022 Notes Other lax81ion and social secunty Deferred income Trade creditors Accruals and deferred income 14,789 78.000 15.286 25,698 12,417 78,000 13,324 44,060 133,773 147.801 25- GREAT OAKS HOSPICE NOTES TO THE FINANCIAL STATEMENTS ICONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2023 20 Deferred In¢om• 2023 2022 NHSE Palliative Grant Hospi￿ UK Covid Support Forest of Dean DC Covid Support Insurance Claim 78,000 78,000 57,489 36,141 42,883 78,000 214,513 The trustee5 consider the above grants and funding as deferred income on the basis the enlillement lo the income does nol exist at the balance sheet dale. Instead, deferred income is disclosed as a liability in the balance sheet In early MaTch 2020 the Hospice re￿IVed £78,000 from the CCG as a down payment for a project where we would work with local nursing homes lo help extend the health care cover in the locality. Hi)wever due to the Covid pandemic. this project has not yet started. ro J (o o Lrj co u) ¢0 a￿00 0000 Or￿0 OJ ￿ u) O L)- Qgcj Q c iL C ÈEè811*1 ICCUULL C(JI ooai ro Lrj 0￿¢D Ifi O <00 <0 u> (O O tx) ou) tx) * GREAT OAKS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 30 SEPTEMBER 2023 23 Op8ratlng lease commllm•nts Al the reporting end dale the charity had outstanding commltment8 lor fvture rninlmum 18asg payments under nOn-￿ncelIable operahng leases, vhich fall due a8 follows.. 2023 2022 WThlhin one year Be￿￿en two and five years In over five years 43.600 93.200 49,000 111.200 3.200 136,800 163,4C4J 24 Related paity transactions Remuneratlon of key managemgnt personnel The remuneration of the 5 key management personnel12022- 5 key personnel), none ofwhorn are dirthrs, is as follows. 2023 2022 Agg￿g￿le compensation 157.073 163.920 There were no disc105able related party Iransaclion5 during the year 12022 remuneration of key managemenl shown above. none) other than the 25 Cash generated from operallons 2023 2022 Surplus for the year 362,802 63,863 Adjustments for.. Investment income recognised in slalement ol financial acts'vitses Lossllgainl on disposal of tangible fixed assets Depreciation and impaimienl of tangible fixed assets 131,1311 4,917 53,794 17,9191 {15,0501 44,607 Movements in working capitsl.. Ilncreaselldecrease in programme related assets Ilncreasel in stocks Ilncreasel in debtors (Dec￿ase111nCrease in creditors (Decrease) in deferred income 1293,6791 12,3211 125,9321 114,0281 92.888 11,1051 182,2671 28,841 If 36,5131 Cash gpnerated fromllabsorbgd by) operatlons 54.422 112.6551 -29- GREAT OAKS HOSPICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 26 Hosplce runnlng expens•s analysls 2023 2022 er Rates General rates Insurance Electriaty and Gas Fuel & Oil and Vehicle Insuran￿ & repairs Travelling Hotels Volunteer transport reimbursement Printing, books. stationery. advertising and poslage Computer costs and licences Telephone and Fax Medical ConsumalAes Patients meals & olher foc*J costs Exceptional costs Training Recruilmenl expenses Cleaning and laundry Subscriptions and sundry costs Extemal Licences Equipment hire Clothing I￿sts Irrecoverable VAT re. non