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← The Michael Sobell Hospice Charity

2025-03-31-accounts

The Michael Sobell Hospice Charity

Annual Report for the year ending 31st March 2025

Company no: 03677413

Charity no: 1079638

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Contents

Contents
1.Chair’s letter 3
2.24/25 in summary 4
2.1 Our year in numbers
2.2 Our Vision, Purpose and Values
2.3 The Harlington Hospice services we support
3.Trustees’ Report for the year ended 31 March 2025 11
a) Structure, governance and management
b) Risks
c) Our Trustees And Executive team, including delegated responsibilities
d) Pay Policy for Senior staff
e) Related Parties and relationships with other organisations
f) Statement of the Responsibilities of the Trustees, Appointment of Trustees
and Trustee induction and training
g) Reserves Policy
h) Financial review of the year
i) Public benefit statement
4.Independent Auditors Report 21
5.Audited Accounts 25

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Introduction from the Chair

The end of 2024 marked the important 5 year milestone of the reopening of Michael Sobell House after a period where there were no specialist inpatient beds for Hillingdon patients.

The merger of the 2 charities (Harlington Hospice and Michael Sobell Hospice Charity) is reaping benefits with the pre-existing strengths of the two organisations really showing in a more stable financial position. We are now truly 1 charity with the combined experiences of our important histories, and committed supporters who operate as a single team focused on meeting the needs of our patients and their loved ones.

We are proud that working together in 2024 we were able to support the hospice to expand the number of people we support in our inpatient unit opening 4 more beds for patients who need a longer stay. Since reopening this means we have now doubled the hospice beds available for Hillingdon patients.

At the end of the 2024/25 financial year we said goodbye to a number of Trustees who have played critical roles shepherding the hospice through the last years of substantial change. We thank them and wish them all the best knowing they can look back proud of the impact they made. We also said goodbye to our longstanding Chief Executive, Steve Curry whose strategic vision and commitment to do better for our residents will have an ongoing influence on the hospice. We are pleased he is staying on part time to support key areas of development and enjoying his days off without the pressures of the CEO role.

Michael Sobell hospice Charity has a clearly delineated role within the structure of the merged 2 charities

The Harlington Hospice Annual Report provides extensive detail on the high quality care provided by the team and as such the MSHC report here provides detail on the 3 key enabling objectives.

Across Harlington Hospice and Michael Sobell Hospice Charity our greatest asset is the people across our community who support us with such commitment. Whether this is through making items for us to sell, volunteering, donating money every time they visit the hospice, donating to our shops or undertaking quite terrifying sponsored events, we could not provide the care we do without their support. We appreciate all you do for us.

Michael Breen Chair

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24/25 at Michael Sobell Hospice Charity.

In February 2024 the Board held an away day to shape our plans for the next 3-5 years. This session confirmed to all present that when we have achieved positively – either for individual patients or for our population - it has been when we genuinely delivered on our values:

Collaborative

We’re inclusive and diverse. And never overlook the value of other views and perspectives in creating more individualised care. We share our own, and learn from, other’s best practice.

Responsive

We’re embedded in our local community and exist to respond to their needs. We go above and beyond to find the right answers for whoever needs our help.

Thoughtful

We think not only about the most effective medical practice, but also about what is helpful for our patients.

Courageous

We’re there at people’s hardest moments in life. And we’re a pillar of strength for them when they need us.

In living these values we are able to deliver our purpose:

“To support those in our community living with serious or terminal illness to live each of their days in their own way, to the fullest.”

In turn this makes our vision a reality:

“Where everyone living with serious or terminal illness is treated as an individual and supported to live with their illness in a positive way.”

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MSHC supported the merged organisation to deliver: Our year in numbers

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We exist to enable Harlington Hospice to support local people

The services provided by Harlington Hospice are accessible to any adult nearing the end-oflife, in receipt of palliative care, living with dementia or another serious or terminal illness, or who is a carer providing unpaid support to a friend or family member with one or more of those conditions.

Additionally, HH provides bereavement therapy services for children and young people from four to 17 years old and a bereavement counselling service for adults.

HH services are mainly provided to adults and young people who live in the London Borough of Hillingdon or are registered with a GP in the borough. Where there is capacity, we also support patients and families from adjacent boroughs in North West London and Hertfordshire.

In addition to Hillingdon provision, a domiciliary care and respite (replacement) care service is also available to family carers in the London Boroughs of Hounslow and Ealing.

HH’s support can be long term over a number of years such as our lymphoedema service or for a few nights when it really counts. HH provides respite and support symptom management. Increasingly we are seeing patients who stay with us returning home whilst knowing that our support remains there if their needs change.

Harlington Hospice services supported by MSHC

Staying at the hospice

This team provides responsive and compassionate palliative and endof-life care to people with complex symptoms and who require emotional support, with the aim of discharging them back home. They also care for people in their last days and hours of life.

Hospice Beds for Hillingdon

Before closure Re-opened 2024 (pre 2019) (2021) ~~ff~~ 7 beds 10 beds 14 beds ~~a~~

Care at home

ON

Through our Hospice at Home team of Registered Nurses and specialist trained Healthcare Assistants, we care for people in their own home All support is tailored to each individual’s needs and those of their family members.

Our regulated social care support service, known as Harlington Care, provides a comprehensive domiciliary care service in the home, which includes more advanced care tasks for people with complex health and social care needs including carer respite across 3 boroughs.

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Clinic based care

Throughout the year the Wellbeing team ran Creative Art sessions, as well as Exercise and Relaxation groups, with the option of one-to-one support if required. These sessions are run twice a week and continue to be popular with our patients.

Lymphoedema is a long-term (chronic) condition that causes swelling in the body’s tissues and can affect any part of the body, but usually develops in the arms or legs. We also treat patients with Lipedema. These conditions can be very painful and affect daily life.

Our Adult Psychological Support Service includes a Palliative Psychotherapy team, which has supported adults living with a serious or terminal illness, and those close to them, since January 2021.

The Child and Adolescent Bereavement team continued its work exploring the challenges of how neurodiverse children and young people cope with bereavement. It has expanded its commitment to providing bereavement support for neurodiverse children and their carers, in order to develop new networks and neuro-affirmative resources for parents with neurodiverse children, in order to help them to better understand and manage change and their grief.

A key objective of MSHC is to support Education, training and research

The hospice has a key role in supporting education and training as the trusted local experts in palliative care. Our first conference was a success with excellent feedback.

Harlington Hospice working with Dr Poppy Freeman has developed and championed the invaluable HPAL portal with up to date end of life information for patients and clinicians. In 2024 Mid Essex ICB recognised the value of this resource and commissioned a version for their community;

We support education for carers via the Caring with Confidence programme – recognising that whilst professional care is critical the heavy burden of care often falls to informal carers especially where a loved one has dementia.

We delivered a four-session End-of-life psychoeducational course for carers. Following a review of last year’s programme, a fourth session was added. All sessions had a training and psychotherapeutic support element and topics covered were:

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The hospice continues to act as a training hub for GPs, Medical Students, Nursing placements, Counselling trainees and many more people seeking work experience. We are grateful for the input of all trainees who have supported care at the hospice.

Student nurse Placements: Staff on IPU have been amazing, the support, care and love I received I will never forget and always be amazed. Lovely supportive staff thank you for all your help.

In partnership with local and regional stakeholders and colleagues, Harlington Hospice held our first Palliative Care Conference in May 2024. This was attended by GPs, Paramedics, Care Home Staff, District Nurses, Hospital and Palliative Care Team

The hospice had speakers covering topics including:

The future of Palliative Care Nursing; Supporting Family Carers: Pain; Nausea, Breathlessness – Top Tips; Palliative care in A&E – How Not To Admit A Patient; Children Facing Loss; The Challenge of Palliative Care At Home; Tree of Feelings: Patient Experiences in the Hospice; Assisted Dying – The Future and the Impact; Managing Anxiety/CBT and Relaxation Techniques

Attended by 15 hospice team members providing development opportunities internally as well as for the wider system.

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Income Generation

After the NHS the main source of funding for hospice care in Hillingdon is the MHSC.

We rely on the support of our local community to fund our services – by making donations and grants, taking part in events, spending in our shops and remembering us in their Wills.

In 2024 we welcomed volunteers into the fundraising team who have been instrumental in enabling good contact with those interested in supporting us. Thank you.

We want to thank the organisations from whom the hospice have received generous grants including:

Many people go above and beyond setting up and running events for MSHC. We would like to thank our supporters for their dedication and generosity. Major successes in the year

As a founding member of the Hospice Lottery, we continued to benefit from this partnership which, since it launched in 1997 had donated over £16 million to the Charity.

We have benefited also from support from Corporate Partners and would like to thank the following for their highly valued contributions across Harlington Hospice and MSHC:

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Page 10 of 24

2) Trustees Report

Structure, Governance and Management

The organisation is a charitable company limited by guarantee, incorporated on 7 November 1998, revised in October 2018 and December 2022.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

All Trustees give their time voluntarily and receive no benefits from the Charity. No expenses were claimed by Trustees.

During year to 31 March 2025, committees to the Board were the:

A trustee also sits on the Safeguarding Steering Group which feeds to both the Quality Assurance and Governance Committee and the board.

Trustees and Directors

New Trustees appointed, 16.4.24

Michael Breen (Chair)

Carol Coventry (retired 31.03.2025)

Michael Edwards

Caroline Morison (retired 31.03.2025)

John McDonnell (retired 16.04.2024)

Ashish (Ash) Devani Shreena Raja Jane Ellis (resigned 24.3.25) Charles Gloor Carmel Gordon-Dark

John Sandercock (retired 16.01.2025)

New Trustees appointed 23.9.25

Andrew Bonser

Laura Churchill

Sarah Scannell

Pravin Shah

Marie Wadsworth

Key senior management personnel

Chief Executive: Steve Curry (Job Share)

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Chief Executive: Jane Wheeler (Job Share) from 04.11.2024

Director of Finance, Performance and Resources: Vanessa Harrison (from 13.11.2023 to 20.01.2025)

Director of Clinical Services: Sara Ryan

Medical Director: Dr Ros Taylor

Staff and delegated responsibilities

The Board of Trustees has delegated operational management of MSHC to the Chief Executive. MSHC does not employ any staff. All staff are employed by Harlington Hospice and work across the 2 charities as needed to deliver objectives.

The process for recruiting staff is set out in the Recruitment Policy and Procedure. Staff employment terms and conditions are included in Harlington Hospice’s Employee Handbook, which is shared with all staff.

Pay policy for senior staff

The directors are The Charity’s Trustees. The senior management team comprise the key management personnel of The Charity in charge of directing and controlling, running and operating The Charity on a day to day basis (see Organisation note).

All directors give their time freely and no director received remuneration in the year. No expenses were claimed or paid to Directors in 2024/25.

The pay of the senior staff is reviewed annually and benchmarked against pay levels in other comparable charities, the voluntary sector and similar roles.

Principal risks and uncertainties

Over the past year, the Trustees have actively managed the charity’s risks. Senior charity staff follow a robust process to identify and evaluate risks, and to put mitigation strategies in place. The Sub-Committees review the risks relating to their area of operations, and the highest rated risks, and the strategic risks are referred to the Board for review and discussion.

The most significant risks - at the date of this report are:

1. Fundraising income

The risk relating to income generation, and fundraising income specifically is rated as a significant risk to the stability of the Charity and its ability to continue to provide the current range of services.

If fundraising income is inconsistent or unpredictable, the funding of patient services may be affected.

Mitigations in place are:

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alongside fundraising income. Investment in communications and marketing to raise the charity’s profile.

2. Increases in costs due to inflation

The risk relating to higher costs could jeopardise service delivery. Inflation has a particular impact on income generation and within this our retail income. Growing energy prices are also a cause of concern. Mitigations are limited, as inflationary growth is outside our control.

Mitigations in place are:

3. Risk to MSHC in the unlikely need to wind up the Charity

The Charity would have the need to terminate leases for shop premises and to redeploy or give notice to staff currently employed by Harlington Hospice but working for both Charities. This is an extremely low risk given the positive developments and funding across the hospice.

Mitigations in place are:

Financial review

MSHC is a key funder for the hospice care provided by the wider Harlington Hospice Group. At the beginning of 24/25 the Group Board agreed a budget with a income target of £5.9m of which MSHC were expected to raise £1m of this. During the year MSHC raised £1.2m which has helped significantly reduced the planned deficit for Harlington Hospice Group of £513,000 to £140,000. It is a reflection of the hard work of the entire team that we are now reporting a more positive outcome.

This means not only have we stabilised what could have been a worsening position, but we have reversed the direction of travel. As many hospices’ financial positions worsen we have made substantial strides in recovery which has meant we have agreed a balanced Group budget for 25/26.This more stable position has also meant that we are able to prudently start to invest in key service areas which will further consolidate our financial stability either through fundraising income, or to enable future growth.

The reshaping of the fundraising team during February 2024 has seen a step change in productivity and effectiveness – a much reduced spend on fundraising is now delivering

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much greater return. Income has seen a small reduction of 9% year on year however expenditure has reduced by 32%. This has enabled the commitment to fund hospice services to be maintained with a significate reduction on using reserves to achieve this.

Income

Total income for the year ended 31 March 2025 was £1,202,475 (2024:£1,318,624)

2024/25
2023/24
Income £
£
Donation 633,334 418,045 51%
Legacies 268,445 462,405 -42%
Trading activities 275398 409,246 -33%
Investments 5,298 15,788 -66%
Other income 20,000 13,140 52%
Total income 1,202,475 1,318,624 -9%

Expenditure

Total expenditure was 2025: £1,260,148 (2024: £1,610,409) a decrease of £350,261.

2024-25 2023/24
Expenditure £
£
Michael Sobell House Inpatient
Service		 903,250 1,074,015 -16%
Fundraising and trading 365,898 536,394 -32%
Total expenditure 1,260,148
1,610,409		 -21%
2024/25 2023/24
Surplus / deficit £ £
Total income 1,202,475 1,318,624
Total expenditure 1,260,148 1,610,409
Surplus -57,673 -291,785

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Reserves

Reserves
2024/25
2023/24



£
£
Restricted reserves 22,181
27,523
Designated reserves 6,641
13,282
General reserves 411,895
454,295

Reserves policy

Following the merger and staff employment moving to Harlington Hospice Association all employment risks were removed from Michael Sobell Hospice Charity. Therefor the need for a operational reserve was reduced significantly.

The only key risk requiring a reserve is a more general to cover service wind down arising from the risk to in-year fundraising and retail operations.

The Board of Trustees may in addition decide on a further, discretionary amount to be included in the Reserve for a specific purpose, such as long-term capacity building or a special project. This has not happened in recent years.

The Operating Reserve needed for the financial year 2025-26, based on the factors above, is £250,000 to manage the wind up of retail shops. As general reserves at 31 March 2025 were above this level at £411,895 (2024: £454,295) the funding is comfortably above the level required.

Going concern

As outline above the financial operational risks of MSHC are low and the level of reserve are sufficient to manage the risk. This has enabled the Board of Trustees to confirm the going concern of the charity.

2025/26
£		 2024/25
£
Total required operating reserve 250,000 265,000
Projected free reserves 411,895 454,295

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Fundraising and Communications

It should be noted that:

The Charity does not work with or use any external professional fundraisers, with the exception of the Hospice Lottery Partnership who canvass on our behalf.

MSHC is registered with the Fundraising Regulator and is fully compliant with its requirements and code of practice.

The Trustees are not aware of any complaints made in relation to our fundraising activities during the year ending 31[st] March 2025.

Ensuring that our supporter’s data is safeguarded and used only in an appropriate manner is of paramount importance, in line with GDPR regulations. Our privacy statement can be found in full on our website here: https://www.harlingtonhospice.org/privacy-policy-users-ofservices-volunteers-supporters/.

This year, Harlington Hospice and Michael Sobell House Charity together gained £213,571 income from membership of the Hospice Lottery Partnership

Statement of responsibilities of the Trustees:

The Trustees (who are also directors of MSHC for the purposes of company law) are responsible for preparing the Trustees’ annual report a nd the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006.

They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

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aware of any relevant audit information and to establish that the auditor is aware of that information.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the Charity guarantee to contribute an amount not exceeding £10 to the assets of the Charity in the event of winding up. The total number of such guarantees at 31 March 2025 was 11 (2024:6).

The Trustees are members of the Charity, but this entitles them only to voting rights. The Trustees have no beneficial interest in the Charity.

Auditor

Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

The Trustees’ annual report has been approved by the Trustees and signed on their behalf by,

M J Breen

Chairman

16 December 2025

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Registered office

The Michael Sobell Hospice Charity Mount Vernon Hospital Rickmansworth Road Northwood Middlesex HA6 2RN

Auditors

Sayer Vincent LLP 110 Golden Lane London EC1Y 0TG

Kings Hill Kent West Malling ME19 4TA

Solicitors

Tozers LLP Broadwalk House Southernhay West Exeter Devon EX1 1UA

Bankers

Barclays Bank Plc 15-17 Bridge Street Pinner HA5 3HU

Keelys Solicitors 28 Dam Street Lichfield Staffordshire WS13 6AA

CAF Bank Limited

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Public Benefit Statement

The Board of Trustees is aware of the Charity Commission’s guidance in relation to public benefit. All of the organisation’s charitable activities fall within its objects and provide considerable public benefit as outlined in this report.

Our Charity’s purposes as set out in the objects contained in the company’s Articles of Association and are:

The relief of sickness and suffering of residents of the London Borough of Hillingdon and the surrounding areas and the provision of associated care and support to their carer’s, dependants and families, including but not limited to:

(1) providing financial and other support to organisations providing palliative and end of life care;

(2) advancing the education of members of the community on the work of such organisations to raise awareness of palliative and end of life care;

(3) supporting research into high quality palliative and end of life care and disseminating the results of such research through the community.

Michael Sobell House has been providing care for over 45 years to people in its catchment area, since 2023 the services at Michael Sobell House are provided by Harlington Hospice.

The Michael Sobell Hospice Charity fundraises to provide a range of support for the clinical services at Michael Sobell House, providing relief and palliative care to patients, former patients and their families.

Michael Sobell House is the inpatient unit and centre for palliative care located at Mount Vernon Hospital. The Hospice team provides inpatient, day care and home care services and is a centre of excellence for specialist services, enhancing without discrimination the care of patients with life limiting illnesses and support for their families and carers.

In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘Public benefit: running a Charity (PB2)’. The Charity relies on a number of income streams including grants, retail outlets, fundraising events and activities. In addition, we rely on donations, gifts in memory, regular giving, corporate support, and legacies. We endeavour, through a wide range of communication methods, to encourage our local community to take part in our activities and to attend our events to support our work. The Trustees have considered this matter and concluded that:

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The Trustees have complied with their duty according to Section 17(5) of the Charities Act 2011.

M J Breen Chairman

16 December 2025

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Independent Auditors Report

Independent auditor’s report to the members of The Michael Sobell Hospice Charity.

Opinion

We have audited the financial statements of The Michael Sobell Hospice Charity (the ‘charitable company’) for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows 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 Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on The Michael Sobell Hospice Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The 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

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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 express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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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. 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 greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Joanna Pittman (Senior statutory auditor) 19 December 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

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The Michael Sobell Hospice Charity

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2025

Note
Income from:
2
3
Investments
4
Other income
5
6
7
Net income / (expenditure)
Net gains / (losses) on investments
11
Gross transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Donations and legacies
Other trading activities
Total income
Total expenditure
Net (outgoing) / incoming resources before
transfers
Expenditure on:
Raising funds including charity shops
Charitable activities		 Unrestricted
£
892,375
275,398
5,298
20,000		 Restricted
£
9,404
-
-
-		 2025
Total
£
901,779
275,398
5,298
20,000		 Unrestricted
£
873,880
373,173
15,788
13,140		 Restricted
£
6,570
36,073
-
-		 2024
Total
£
880,450
409,246
15,788
13,140
1,193,071 9,404 1,202,475 1,275,981 42,643 1,318,624
356,899
888,504		 -
14,746		 356,899
903,249		 536,394
1,048,537		 -
25,478		 536,394
1,074,015
1,245,403 14,746 1,260,148 1,584,931 25,478 1,610,409
(52,332)
3,290		 (5,342)
-		 (57,673)
3,290		 (308,950)
13,500		 17,165
-		 (291,785)
13,500
(49,042)
-		 (5,342)
-		 (54,383)
-		 (295,450)
50		 17,165
(50)		 (278,285)
-
(49,042)
467,577		 (5,342)
27,523		 (54,383)
495,100		 (295,400)
762,977		 17,115
10,408		 (278,285)
773,385
418,535 22,181 440,717 467,577 27,523 495,100

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 20 to the financial statements.

25

The Michael Sobell Hospice Charity

Balance sheet

Company number 03677413

As at 31 March 2025

Note
Fixed assets:
13
Investments
14
Current assets:
15
Investments
16
Liabilities:
17
21
20
Total unrestricted funds
Cash at bank and in hand
Debtors
Tangible assets
Creditors: amounts falling due within one year
Net current assets
Restricted income funds
Total net assets
The funds of the charity:
Unrestricted income funds:
Designated funds
General funds
Total charity funds		 £
6,641
214,550		 2025
£
£
13,282
220,116
221,191
115,977
1,013
506,382
563,826
(344,300)
219,526
440,717
22,181
13,282
454,295
418,536
440,717		 2024
£
233,398
623,372
(361,670)
179,624
-
384,202
6,641
411,895
261,702
495,100
27,523
467,577
495,100

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 16 December 2025 and signed on their behalf by

Mr MJ Breen Chairman

26

The Michael Sobell Hospice Charity

Statement of cashflows

For the year ended 31 March 2025
Note
Cashflows from operating activities
Cash (absorbed by) / generated from operations
26
Investing activities
Purchase of tangible fixed assets
Proceeds from the sale of investments
Investment income received
Net cash generated from investing activities
Net increase / (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 £
-
-
5,298		 2025
£
£
(136,334)
-
472,679
15,788
5,298
(131,036)
506,382
384,202		 2024
£
(112,259)
488,467
376,208
130,174
506,382

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

27

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies

a) Statutory information

The Michael Sobell Hospice Charity is a charitable company limited by guarantee and is incorporated in England and Wales. On 22nd December 2022, Harlington Hospice Association became the sole member of Michael Sobell Hospice Charity Ltd.

The registered office address is Michael Sobell Hospice, Mount Vernon Hospital, Rickmansworth Road, Northwood, Middlesex, HA6 2RN.

b) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The successful partnership with Harlington Hospice Association Limited has delivered planned synergies and benefits and strengthened the financial position of the charity.

The charity has taken account of the risks identified by the Board and has made provision through its reserves calculation to ensure that these risks can be managed. The Finance Sub-Committee regularly monitors cashflow and projected income and expenditure to budget.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the 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, the estate has been finalised and notification has been made by the executor(s) to the charity 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 granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

28

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to 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.

g) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes. The trustees have decided to report all The Michael Sobell Hospice Charity tangible fixed assets as designated funds.

i) Expenditure and irrecoverable VAT

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 obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds relate to the costs incurred by the charity by its Charity Shops and in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose;

Expenditure on charitable activities includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs; and

Other expenditure represents those items not falling into any other heading.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

j) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

All support costs incurred by Michael Sobell Hospice Charity Ltd are allocated using the following percentages:

All governance costs incurred by Michael Sobell Hospice Charity Ltd are allocated in full to charitable activities. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the

charity’s activities.

The Michael Sobell Hospice Charity Ltd is not registerered for VAT so all expenses shown in the statement of financial activities and notes to the accounts are shown gross (i.e. inclusive of VAT).

29

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

l) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000 and the asset is expected to be productive for more than 12 months. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Fixtures & Fittings 2-5 years Motor Vehicles 5 years

m) 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.

n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

o) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

p) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

30

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)

q) Pension schemes

The charity offers a qualifying defined contribution scheme to all staff. In addition, the charity offers the NHS pension scheme to qualifying staff.

National Health Service Superannuation Scheme

This is a statutory superannuation scheme as defined in Section 6.12 (1) Income and Corporation taxes Act 1988 which has no invested funds. Contribution by employers (currently 14.38%) and members (variable rates) are accounted for to the Treasury and benefits are paid from the consolidated fund. This scheme is only open to staff who have been members of the NHS scheme in previous employment under the dispensation rules. The accounting charge represents the employer's contributions for the period. Harlington Hospice Association has no liability or potential liability for accrued unfunded obligations relating to this pension fund.

Group Personal Pension Scheme

In addition to the NHS Pension Scheme, the Hospice operates a Group Personal Pension Plan available to all staff. This plan is a defined contribution scheme administered and invested with Scottish Widows. It is a money purchase plan and all eligible employees who are not members of the NHS superannuation scheme are automatically enrolled on starting employment with the charity. Employee contributions are 5% with an employer contribution of 3%. Employees may contribute more to the plan.

Pension Schemes and Employees

From 1 May 2023 all staff working within Michael Sobell Hospice Charity were TUPE’d to Harlington Hospice following the merger of the two organisations. The pension scheme operated by Michael Sobell Hospice Charity through The People’s Pension remains in operation and those staff members in the Scheme continue to have their pension contributions paid into it by Harlington Hospice.

31

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

2 Donations and legacies

Donations and gifts
Legacies
Grant income
3 Other trading activities
Fundraising events
Shop income
4 Investments
Income from listed investments
Interest receivable
5 Other income
Sobell Bridge Club and other income		 Unrestricted
funds
Restricted
funds
Total
2025
2025
2025
£
£
£
563,430
9,404
572,834
268,445
-
268,445
60,500
-
60,500
892,375
9,404
901,779
Unrestricted
funds
Restricted
funds
Total
2025
2025
2025
£
£
£
58,316
-
58,316
217,082
-
217,082
275,398
-
275,398
Unrestricted
funds
Restricted
funds
Total
2025
2025
2025
£
£
£
102
-
102
5,196
-
5,196
5,298
-
5,298
Unrestricted
funds
Restricted
funds
Total
2025
2025
2025
£
£
£
20,000
-
20,000		 Unrestricted
funds
Restricted
funds
Total
2024
2024
2024
£
£
£
406,475
1,320
407,795
462,405
-
462,405
5,000
5,250
10,250
873,880
6,570
880,450
Unrestricted
funds
Restricted
funds
Total
2024
2024
2024
£
£
£
149,636
36,073
185,709
223,537
-
223,537
373,173
36,073
409,246
Unrestricted
funds
Restricted
funds
Total
2024
2024
2024
£
£
£
13,233
-
13,233
2,555
-
2,555
15,788
-
15,788
Unrestricted
funds
Restricted
funds
Total
2024
2024
2024
£
£
£
13,140
-
13,140

32

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

6 Costs of raising funds

Fundraising and publicity
Staging fundraising events
Other fundraising costs
Costs incurred by Harlington Hospice
Support costs
Trading costs
Operating charity shops
Staff costs
Support costs
Total cost of raising funds
7 Charitable activities
Patient / staff support and counselling
Grant to Harlington Hospice
Support and governance costs		 Unrestricted
funds
Restricted
funds
Total
2025
2025
2025
£
£
£
11,322
-
11,322
37,719
-
37,719
55,342
-
55,342
38,677
-
38,677
143,060
-
143,060
84,628
-
84,628
113,740
-
113,740
15,471
-
15,471
213,839
-
213,839
356,899
-
356,899
Unrestricted
funds
Restricted
funds
Total
2025
2025
2025
£
£
£
2,044
-
2,044
863,254
14,746
878,000
23,206
-
23,206
888,504
14,746
903,250		 Unrestricted
funds
Restricted
funds
Total
2024
2024
2024
£
£
£
12,727
-
12,727
6,072
-
6,072
305,149
-
305,149
29,604
-
29,604
353,552
-
353,552
79,145
-
79,145
91,904
-
91,904
11,793
-
11,793
182,842
-
182,842
536,394
-
536,394
Unrestricted
funds
Restricted
funds
Total
2024
2024
2024
£
£
£
378
-
378
1,014,622
25,478
1,040,100
33,537
-
33,537
1,048,537
25,478
1,074,015

33

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

8 Support costs

Support costs
Management costs
Management employment costs
Other governance costs
Analysed between
Fundraising
Trading
Charitable activities		 Support costs
Governance
costs
Total
2025
2025
2025
£
£
£
15,000
-
15,000
2,267
-
2,267
87
-
87
17,354
-
17,354
6,851
-
6,851
2,741
-
2,741
7,762
-
7,762
17,354
-
17,354		 Support costs
Governance
costs
Total
2024
2024
2024
£
£
£
37,114
-
37,114
22,095
-
22,095
-
15,774
15,774
59,209
15,774
74,983
29,604
-
29,604
11,842
-
11,842
17,763
15,774
33,537
59,209
15,774
74,983

Management support costs are reallocated on the basis of staff time per activity.

The allocation percentages noted below show fairly the spread of people and activities between support costs: 50% Fundraising

20% Trading 30% Charitable activities

Governance costs includes auditors' fees, legal, training and other sundry costs.

Audit fees for the year were £15,000 (2024: £15,600).

34

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year, or made any donations. No expenses were reimbursed to trustees.

10 Employees

The average number of employees during the year was:

Fundraising and publicity including shops
Support staff
Employment costs
Wages and salaries
Social security costs
Pension costs		 2025
number
-
-
-
2025
£
-
-
-
-		 2024
number
-
-
-
2024
£
13,718
1,283
283
15,284

The costs above relate to Michael Sobell payroll, and full recharged staff costs from Harlington Hospice are shown in Note 6.

The salary costs of the Key Management Personnel totalled £nil for the year (2024: £nil) which was in respect of nil employees (2024: nil).

No member of staff earned more then £60,000 in the financial year.

All staff employed were transferred to Harlington Hospice Association on 1 May 2023

11 Net gains / (losses) on investments
Gains / (losses) on disposal
Revaluation of investments		 Unrestricted
funds
Unrestricted
funds
2025
2024
£
£
3,290
13,500
-
-
3,290
13,500

35

The Michael Sobell Hospice Charity

For the year ended 31 March 2025

Notes to the financial statements

12 Taxation

The charity is exempt from tax on income and gains falling within section 505 of Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

36

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

13 Tangible fixed assets

Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Depreciation charged in the year
At 31 March 2025
NBV
At 31 March 2025
At 31 March 2024
14 Fixed asset investments
Cost or valuation
At 1 April 2024
Disposals
Valuation changes
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024
15 Debtors
Amounts falling due within one year
Trade debtors
Other debtors
Prepayments		 Fixtures and
fittings
£
28,785
-
28,785
15,503
6,641
22,144
6,641
13,282
Listed
investments
£
14,306
(5,566)
-
8,740
8,740
14,306		 Motor vehicles
£
15,360
-
15,360
15,360
-
15,360
-
-
Unlisted
investments
£
205,810
-
-
205,810
205,810
205,810
2025
£
156,000
10,683
12,941
179,624		 Total
£
44,145
-
44,145
30,863
6,641
37,504
6,641
13,282
Total
£
220,116
(5,566)
-
214,550
214,550
220,116
2024
£
58,556
38,066
19,355
115,977

37

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

16 Current asset investments

Unlisted investments
17 Creditors
Amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals		 2025
£
-
2025
£
-
293,880
19,032
31,388
344,300		 2024
£
1,013
2024
£
-
300,120
11,972
49,578
361,670

18 Retirement benefit scheme

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. From 1 May 2023 all staff working within Michael Sobell House TUPE to Harlington Hospice following the merger of the two organsiiations. The pension scheme operated by Michael Sobell House remains in operation and those staff members who TUPE across contunie to have their pension scheme contriubutions made to this scheme. Any staff eleigble to join the NHS pension scheme have their contributions made via Harlington Hospice scheme membership.

19 Share capital

The company is limited by guarantee. If the company is wound up, and there is a financial deficit, the members will contribute a sum of £1.

The only member of the company is Harlington Hospice Association Ltd.

38

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

20 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Restricted funds
Memory Tree
Wishlist campaign
Camino fundraiser
Staff fund
Lymphoedema
Other restricted		 Balance at 1
April 2023
Incoming
resources
Resources
expended
Transfers
Balance at 1
April 2024
Incoming
resources
Resources
expended
Transfers
Balance at 31
March 2025
£
£
£
£
£
£
£
£
£
5,342
-
-
-
5,342
-
(5,342)
-
-
50
-
-
(50)
-
-
-
-
-
-
36,073
(25,478)
-
10,595
-
-
-
10,595
2,817
1,270
-
-
4,087
-
-
-
4,087
-
5,000
-
-
5,000
-
-
-
5,000
2,199
300
-
-
2,499
-
-
-
2,499
Movement in funds
Movement in funds
10,408
42,643
(25,478)
(50)
27,523
-
(5,342)
-
22,181

The total restricted fund reserve carried forward amounts to £22,181 (2024: £27,523).

Purposes of restricted funds

Donations for the memory tree fund are restricted to the memory tree project. Camino fundraiser: Are restricted to supporting patients end of life wishes and purchase of cuddle beds. Staff fund: Are restricted to supporting staff welfare Lymphoedema: Are restricted to puirchasing new Lyphodemia equipment Other restricted donations comprise donations restricted for items for patient care and support.

21 Analysis of net assets between funds

Fund balances at 31 March 2025
Represented by:
Tangible assets
Investments
Net current assets		 Unrestricted
funds
Restricted funds Designated funds
Total
2025
2025
2025
2025
£
£
£
£
-
-
6,641
6,641
214,550
-
-
214,550
197,345
22,181
-
219,526
411,895
22,181
6,641
440,717		 Unrestricted
funds
Restricted
funds
Designated
funds
Total
2024
2024
2024
2024
£
£
£
£
-
-
13,282
13,282
220,116
-
-
220,116
234,179
27,523
-
261,702
454,295
27,523
13,282
495,100

22 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years
Over five years		 2025
2024
£
£
85,500
69,747
125,672
121,551
-
-
211,172
191,298

39

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

23 Related party transactions

During the year, Mr M J Breen (the chairman and trustee of Michael Sobell Hospice Charity) was also a director of the Hospice Lottery Partnership in which the charity has an interest. Income received in the year was £210,000 (2024: £200,000) and expenditure in the year was £1,298 (2024: £1,317) with an amount due to the Hospice Lottery Partnership of £219 at the year end (2024: £141).

Michael Sobell Hospice Charity trustees Carol Coventry, Michael Breen, Vanessa Avlonitis, Michael Edwards, Margaret Roberts, Caroline Morison and John Sandercock are also trustees of Harlington Hospice Association Limited.

From 23 December 2022, Harlington Hospice Association is the sole member of Michael Sobell Hospice Charity and the two charities have merged their operations.

During the year, there were many financial transactions between the two charities, comprising:

24 Post balance sheet events

The trustees are not aware of any reportable post balance sheet events.

25 Ultimate controlling party

The company's ultimate parent undertaking and controlling party is Harlington Hospice Association Limited, a registered charity (number: 1099332) and company limited by guarantee (number: 04199504). Copies of the consolidated financial statements are available from Companies House/the Charity Commission.

40

The Michael Sobell Hospice Charity

Notes to the financial statements

For the year ended 31 March 2025

26 Cash generated from operations

Surplus (deficit) for the year
Adjustments for
Investment income
Fair value gains and losses on investments
Depreciation of tangible fixed assets
Movements in working capital
Decrease / (increase) in short term investments
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Cash (absorbed by) / generated from operations		 2025
£
(54,383)
(5,298)
(3,290)
6,641
1,013
(63,647)
(17,370)
(136,334)		 2024
£
(278,285)
(15,788)
(13,500)
6,640
(21)
(17,236)
205,931
(112,259)

41