2024-03-31-accounts

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pice Woking Hospice Annual Report and Annual Report and Financial Statements Year ended 31 March 2024

Registered Office ancial Statements r ended 31 March : Goldsworth Park Centre, Woking, Surrey GU21 3LG Registered Company No : 03955487 Registered Charity No : 1082798 Website: www.wsbh.org.uk

Woking Hospice An Introduc#on

Woking & Sam Beare Hospice and Wellbeing Care (the “Hospice”) is a pa#ent-centred charity that delivers pallia#ve and end of life care to people with advanced life limi#ng illnesses and that provides support to their carers and families.

In the year ended 31 March 2024, the Hospice again delivered care across the Boroughs of Spelthorne, Runnymede, West Elmbridge, Surrey Heath, Woking and North Guildford with a combined popula#on of approximately 360,000. This care is provided to pa#ents and their families and carers without charge. Our holis#c approach is designed to cater for pa#ents' physical, psychological, social and spiritual needs.

As our pa#ents are at the heart of everything we do, all our ac#vi#es focus on ensuring that we can be sustainable so that we can con#nue to offer the best possible care to all those that require our support and services. We provide care on the Inpa#ent Unit at the Hospice. In addi#on, we deliver care in pa#ent homes across our community and in our Wellbeing Centre at the Hospice.

Woking Hospice is the parent Charity which has a wholly controlled subsidiary charity (Sam Beare Hospice). Woking Hospice and Sam Beare Hospice are governed by their respec#ve Memorandum and Ar#cles of Associa#on, and both are charitable companies limited by guarantee and without share capital.

The Trustees have taken the op#on of not preparing consolidated financial statements as Sam Beare Hospice grants all profits to Woking Hospice, there is no impact on the net assets and no change in the total of the Statement of Financial Ac#vi#es (SOFA) or our balance sheet in terms of value. We are commi>ed to retaining the Sam Beare name and therefore Woking Hospice operates as Woking & Sam Beare Hospice and Wellbeing Care. The surplus from Sam Beare Hospice is given to Woking Hospice as a grant for services. We will not refer to “group” ac#vity within these reports and will solely be repor#ng on the ac#vity of Woking Hospice.

The Trustees present their Annual Report and the audited financial statements of the Charity for the year ended 31 March 2024. Within the Trustees' Report is the Strategic Report required under s414 c[II] of the Companies Act 2006.

The Trustees have complied with their duty to have due regard to public benefit guidance published by the Charity Commission and to further the purposes of the charity for the public benefit.

The financial statements have been prepared in accordance with the Accoun#ng and Repor#ng by Chari#es: Statement of Recommended Prac#ce (SORP) applicable to chari#es preparing their accounts in accordance with the Financial Repor#ng Standard applicable in the UK and Republic of Ireland (FRS 102) - (Chari#es SORP FRS102), the Financial Repor#ng Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Woking Hospice Annual Report and Financial Statements for the year ended 31 March 2024

Chairperson’s Report	4-5
Trustees’ Annual Report
Vision, Mission and Values	6
Structure, Governance and Management	7-8
Main Activities	9
Achievements and Performance	10
The Quality Agenda	10-11
Our Impact	11
Supporter Promise	13
Long Term Sustainability	14
Principal Risks and Uncertainties	14-17
Looking Ahead	17
Trustees Responsibilities	18
Independent Auditor’s Report	19-21
Statement of Financial Activities (including Income
and Expenditure Account)	22
Balance Sheet	23
Statement of Cash Flows	24
Notes to the Financial Statements	25-44
Charity Reference and Administration Details	45

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Chairperson’s Report 2023/24

Our Annual Report and Financial Statements this year are more streamlined than in previous years and form an important element in a suite of annual reports which describe in detail the work of the Hospice. The reports are referred to at the foot of this statement with links to them for those reading the online version – I would urge you to read them.

In this reporting year, we cared for over 1,500 patients, carers and family members, with 80% of that care being delivered in patient homes. During the year the Hospice was grateful to receive funding from the NHS covering around 31% of our Clinical costs with the balance being raised through fundraising, retail shops and legacies.

Our retail outlets continue to bring innovation to the High Street and the support we received during the year from local businesses, community groups, sports clubs and individuals, too many to mention here was tremendous and invaluable.

We experienced reduced grant income though and cost pressures in all areas, particularly support costs. In another challenging year, ultimately our income did not cover our costs, and I report a deficit of £1.320m with the deficit being met from Reserves. Whilst it is clearly disappointing to report a deficit it is important to note that this deficit was in line with our prior year forecasting. Preparing for the year ahead, we are looking to make inroads into reducing recent deficits.

A number of key appointments were made during the financial year and in the months immediately following it.

In May 2024, Mark Byrne was appointed Chief Executive Officer replacing the previous post holder who left in February 2024. A finance professional by background, Mark is a non-executive member

of the Surrey Heartlands Integrated Care Board. As a function of this role Mark is also Chair of the Northwest Surrey Health and Care Alliance and Deputy Chair of the system finance Board. Mark was previously chair of primary care commissioning and a member of the Palliative and End of Life Care programme management and Covid surge boards. He is also a past governing body member of the Surrey Heartlands Clinical Commissioning Group.

Woking & Sam Beare Hospice’s relevance to the communities of Northwest Surrey has never been so important at a time when more and more people are needing hospice care. Mark therefore joins us at a critical time. His background, skills and sector knowledge, including his understanding of the local healthcare economy, will bring added expertise as we seek to build on our reputation for delivering first-class palliative and end-of-life care.

Change always runs the risk of unsettling organisations but I take this opportunity to thank fellow Trustees, the senior management team and staff for their marvellous support during this period of almost seamless transition. I thank also our NHS partner organisations and other key stakeholders for their on-going support.

During this interregnum period, it was necessary to ensure that we maintained a sharp focus on priorities previously identified, that progress was monitored and reported through our governance processes and acted upon. I am pleased to report that this has been the case with particularly impressive work and dedication from our clinicians and medical teams who continue to provide exemplary care to our patients.

With a new and strengthened management team in place, the Board has already commenced work in reviewing its current strategic framework, with it due to be revised and published in March 2025. The strategy will look to reshape relationships with our partners within the NHS Northwest Surrey Alliance and wider Surrey Heartlands Integrated Care System, reflecting new approaches to the quality and management of palliative and end of life care, strengthen our financial resilience and operational sustainability and to continue building an environment where our staff and volunteers can flourish.

During the year, we collect patient and family feedback and capture some of it in our Quality Account (see below), the following is just one example:

“From the bottom of our hearts we want to thank Woking Hospice for their dedication, support and care in the last days of Dad's life. Your staff are not only truly professional but inspirational and a credit to their profession. We were constantly greeted with big smiles, warm hearts and willingness to help in every way. Thank you again all the angels at Woking Hospice.”

Everything, we do is built around our patients and their families with our patients at the heart of all our actions, investments and decision making. We are proud of our staff and the care they deliver every day, and it is the feedback we receive from the people we touch, that drives our passion to improve in everything we do. I commend this and our suite of reports to you.

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Tim Stokes Chairman of The Board of Trustees

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Suite of Hospice reporting

When reading this Annual Report and Financial Statements for the year to 31 March 2024, it is recommended that the following detailed reports are also considered. All can be provided in hard copy if required but links are provided for online access:

Statement-of-Purpose: Updated January 2024 : a document which describes what our Hospice does, where we do it and who we do it for. It is produced for the Care Quality Commission and is a legal requirement.

Quality Account 2023-24 : Our Quality Account produced annually is a published report about the quality of services and improvements proposed. The quality of the services is measured by looking at patient safety, how effective patient treatments are and patient feedback about care provided. Our report is produced for the NHS Surrey Heartlands Integrated Care Board.

Impact Report 2023-24 : This is our second report, and we plan to continually improve on the measurement of the impacts we have through our presence in the community, through the care we provide and on the wider societal and environmental impacts we have.

Trustees’ Annual Report

Vision, Mission and Values

Vision

To enable all those with life-limiting illnesses to live life to the full and to equip them to die with dignity.

Mission

To be a centre of excellence delivering specialist palliative care, from the heart of Northwest Surrey to people with life-limiting illnesses and support to those important to them. To continually improve by gaining, sharing, and applying knowledge. To raise both an awareness of our activities and the funds to deliver them.

Values

C aring and Compassion: we will care with compassion, communicate with honesty and sensitivity, facilitate understanding and choice and ensure both respect and dignity.

A ccountability: We will dedicate ourselves to safeguard and support our patients, their families, our volunteers and our staff by working with the highest professional and ethical standards.

R espect: We will respect all regardless of their ability, age, gender, race or sexual orientation and we will not tolerate prejudice of any kind.

E xcellence: We will remain committed to continual learning and development to ensure we deliver excellence in all that we do.

Structure, Governance and Management

Organisational Structure

The Hospice is governed by a Board of Trustees which meets on a regular basis. The balance of the Board is such that it provides the Charity with the necessary skills and expertise to ensure the effective running of the Hospice.

The Trustees and Management Team provide services for the Charity to a high standard. They also continue to review the appropriateness of those services in order that Woking Hospice can continue to meet the needs of the population which it serves.

Sam Beare Hospice is a wholly controlled subsidiary of Woking Hospice with company number 05822985 and charity number 1115439, registered office Goldsworth Park Centre, Woking, Surrey, GU21 3LG. The fundraising surplus from Sam Beare Hospice has been given to Woking Hospice as a grant for services as agreed at the Board of Trustees’ meeting on 11 November 2020. We will therefore no longer refer to the ‘group’s’ activity within these reports and will solely be reporting herewith on the activity of Woking & Sam Beare Hospices. Woking Hospice operates as Woking and Sam Beare Hospice and Wellbeing Care.

The key management personnel of the Hospice consist of the Trustees, Chief Executive Officer and a Management Team. The day-to-day running of both charities is undertaken by the Chief Executive Officer and the Management Team. They are tasked with making operational decisions but refer to the Board of Trustees to ratify significant decisions at our quarterly Board Meetings.

During 2023/24, the Hospice held quarterly Board meetings and other ad hoc meetings in addition to regular meetings for its three main Committees, namely, Governance, Finance and Sustainability and Development and Income Generation.

Recruitment and appointment of Trustees

Under the requirements of the Memorandum and Articles of Association, Trustees are elected to serve for a period of four years after which time they may either stand down or offer themselves for re-election.

New Trustees are appointed from the population of the catchment area in compliance with a formal recruitment procedure. The Board constantly monitors its own skill base to ensure that it has proper representation across all functions to enable it to govern the Hospice effectively. The requirements for new Trustees are clearly identified and the local press, other relevant media and local organisations are deployed in recruitment. All potential candidates are fully vetted and go through a selection process to identify the most suitable appointee. Appointments are then approved by the full Board.

Trustee Induction and Training

There is a formal induction programme using the existing Trustees, the Management Team, staff, and volunteers. In addition, the Trustees receive a full induction pack and ongoing training.

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Remuneration Policy

Trustees are not remunerated. Remuneration levels for staff are considered against similar roles in the voluntary sector and against NHS pay scales. The Finance and Sustainability Committee reviews remuneration packages for members of the management team.

Board Effectiveness

Our Trustees are all respected figures with a wide range of appropriate skills. Trustees all live in our local community and are ultimately responsible for all we do. The Board of Trustees work with the management team to:

Shape the Hospice’s long-term strategy and key priorities to ensure that its charitable objectives are met
Monitor progress and evaluate the impact of the Hospice’s activities
Provide vision, challenge, leadership and to uphold the highest levels of integrity, financial stewardship and corporate governance

Related Parties

Transactions with related parties are at market value and are approved by the Trustees and Executive Team.

Hospice services include the following:

In-patient Care : The Hospice has a 20 bedded in-pa#ent unit, specifically designed to care for pa#ents with specialist pallia#ve care needs in individual rooms for their own privacy and comfort. The Mul#-Disciplinary Team caring for our pa#ents consists of Pallia#ve Care Consultants, Doctors, Registered Nurses, Therapists, Assistant Prac##oners and Health Care Assistants which is supported by Counsellors, Complementary Therapists, administra#ve staff and other support services. The Hospice operates 24 hours a day, 365 days a year. An established on-call system operates out of hours.

Wellbeing Care : The Wellbeing Centre operates Monday to Friday and provides a range of holistic therapies including physiotherapy, yoga, complementary therapies, peer support groups, bereavement support, out-patient clinics and bespoke packages of care.

Community Care : The Community Palliative Care Team consisting of Clinical Nurse Specialists, Associate Clinical Nurse Specialists, Paramedic Practitioners, Consultants and Therapists visit patients in their own homes. The Team delivers specialist care through expert assessment and maintenance of individualised treatment plans and through specialist advice to the primary care team and other services involved in patient care. The service operates 7 days a week, 365 days a year from 9am – 5pm providing home visits as well as telephone support.

Hospice at Home : The Hospice at Home Team provide hands on care in the patients’ home following an assessment of care needs. The Registered Nurses work with the Primary Care Team and Continuing Care Services to assess the care package required to support a patient at home. The care package is delivered by our team of trained Healthcare Assistants and carers from selected and approved care agencies supported by the Registered Nurses.

Patient and Family Support Services: The Patient and Family Support Team provide support and care to patients, carers and families ranging from advice about benefits and welfare issues, emotional support, to the management of more complex psychological issues. The Bereavement Service is managed through the Team and supports carers and families after the death of a loved one. Our Community Support Volunteer Service provides practical support and companionship to people at home.

24 Hour Advice and Support Line : The Hospice Team provides a 24/7 advice and support line for health care professionals.

Bereavement, Counselling and Befriending: The Hospice provides a wide range of bereavement, counselling and befriending services to patients, their carers, and family members including children.

Spiritual Care: Clinical staff and counsellors work closely with religious leads across the community. The Hospice Retreat provides a quiet, reflective space which can be utilised by patients, family members, friends, or staff.

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Voluntary Services: The Hospice is supported by many volunteers who enable the Hospice to provide all the services that it does. Their social impact value to the Hospice community is huge. The immense value of these individuals is very much appreciated by everyone.

Achievements and Performance 2023/24

Under the terms of its funding contract with NHS Surrey Heartlands Integrated Care Board (ICB), the Hospice is required to submit a Quality Account each year. The 2023/24 Quality Account was submitted in May 2024.

The Quality Account provides a detailed analysis of the achievements and performance of our clinicians and medical teams.

A key element contained within the Quality Account is the ICB requirement for us to submit our “Priorities for Improvement” and strategies designed to deliver them for the year ahead, along with Statements of Assurance from the Board.

The Quality Account is an annual report to our stakeholders and supporters designed to improve awareness of the range and quality of our care services and our plans for improvement. As a charity receiving core funding from our NHS Integrated Care Board and majority funding from Trusts, Funds and public donations, we welcome this accountability and the opportunity for scrutiny it presents.

This detailed report is referred to on pages 10 and 11 of this report and can be accessed through the following link: Quality Account 2023-24

The Quality Agenda

Quality: Priorities for Improvement for 2024/25

With it due to be revised in March 2025, the Board has already commenced work in reviewing its current strategic framework. The strategy will look to reshape relationships with our partners within the NHS Northwest Surrey Alliance and wider Surrey Heartlands Integrated Care System, reflecting new approaches to the quality and management of palliative and end of life care, strengthen our financial resilience and operational sustainability and to continue building an environment where our staff and volunteers can flourish.

Within the annual Quality Account, our clinicians and medical teams have identified the following five key strategic priorities upon which they will report in 2025. Details behind each of the priorities can be found in the Quality Account 2023-24

Priority 1: Enhancing the effec#veness and efficiency of the EMIS Clinical System – electronic pa#ent notes.

The priority for 2024-2025 is to build on the successful implementa#on of EMIS into the community Services Team in May 2023 and implement the system into the inpa#ent unit. In addi#on to this, the oo in Soh ete

goal is to build upon the EMIS repor#ng system to create a robust and useful dataset in order to monitor our performance and iden#fy areas of success and areas for development. This data will enable us to confidently benchmark ourselves against other Hospices and Healthcare Organisa#ons.

Priority 2: Fostering a Pa#ent Safety Culture.

The priority for 2024-2025 is to further develop and foster a pa#ent safety culture through priori#sing the development and implementa#on of the Pa#ent Safety Incident Response Framework (PSIRF) within the organisa#on.

Priority 3 : Establishing a structured staff Mandatory Training and Appraisal Programme

The priority for 2024-2025 is to build on our exis#ng processes to develop a structured staff mandatory training and appraisal programme in line with the Core Skills Training Framework, fostering a culture of con#nuous learning and professional development within the organisa#on.

Priority 4 : Improving access to a robust and diverse Spiritual Care Network

Introducing a robust spiritual care network into all of the hospice services for pa#ents and their families is a pivotal priority for 2024-2025 in order to foster holis#c well-being, comfort, and inclusivity during end-of-life care.

Priority 5 : Implementa#on of a comprehensive Audit Programme

Building on the work we have done already into crea#ng a robust audit programme, making audit processes a priority within the hospice for 2024-2025. We believe that audit is crucial for ensuring high quality care, con#nuous improvement, and accountability.

Our Impact

We believe it important that we measure and report on the impacts our Hospice has.

Earlier this year we produced our second Impact Report 2023-24 and we plan to continually improve on the measurement of the impacts we have through our presence in the community, through the care we provide and on the wider societal and environmental impacts we have.

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Commitment to Our Supporters

Like most Charities, the Hospice has an in-house Fundraising Team which it finances to generate income.

The Hospice is registered with the Fundraising Regulator, and we endeavour to meet the high standards promoted by their Fundraising Practice by ensuring our activities are open, fair, honest and legal. We continue to work towards full compliance with all GDPR and other regulations to ensure we always respect our supporters’ wishes and treat their privacy with the utmost respect. We ensure that staff are fully trained and understand their responsibilities in their respective areas.

We contact supporters in the ways that they prefer and adapt our methods as needed. Supporters can change their preferences at any time, and we will not contact them if they ask us not to. We never share names, addresses or other personal information with third parties for charity, commercial or fundraising purposes.

We genuinely appreciate feedback from supporters and the public and we review our fundraising activities considering feedback and complaints we may receive.

Our Supporter Promise

At Woking & Sam Beare Hospices, we are extremely lucky and grateful to have so many passionate, committed and generous supporters. Without our wonderful local community, we simply wouldn’t be able to continue to provide specialist palliative care to adult patients of all ages, who have advanced life-limiting conditions, when they need us most.

We want to make sure that our supporters have a great experience. Good communication in the way that’s right for our supporters is therefore key.

We promise:

We will keep the personal details of our supporters safe, secure and confidential
We will not share or sell details of our supporters to any other organisations or individuals (unless for printing and distribution of communications via our approved preferred supplier)
We will communicate appropriately and sensitively and are especially careful when engaging with vulnerable people
We will answer any questions about our fundraising activities and costs openly and truthfully
We will keep our supporters up to date with inspiring and relevant news from our care team
We will tell the truth and won’t exaggerate. What we say we will do, we will do
Supporters will always be able to let us know how they would like to be communicated with or if they would prefer not to be contacted. And they can change their preferences at any time
Our database is constantly updated to ensure we have the correct contact details for supporters and how they like to be communicated with
We adopt best fundraising practice by regulatory bodies and will continue to do so as these are updated

For more information

Our Fundraising Team are always happy to help. T: 01483 881752 E: fundraising@wsbhospices.co.uk

Woking Hospice, Goldsworth Park Centre, Woking, Surrey, GU21 3LG Registered charity No. 1082798 / 1115439

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Long Term Sustainability

Hospices rely heavily on charitable income from fundraising and retail activity to provide their services.

Whilst hospices benefited from additional Government funding during the pandemic, it is generally acknowledged that the traditional hospice operating model is not financially sustainable. Hospice UK has continued to encourage its members to collaborate with each other and with their NHS partners in order to reduce their individual cost base and to develop new and more sustainable operating models. The Hospice has been successfully addressing these areas.

In the balance of this Report, we assess the principal risks associated with our current operating model and outline the steps that we have taken to transform our operation in order to ensure our long term financial sustainability.

Principal Risks and Uncertainties

The Risk Register

During the year the Hospice introduced a new Integrated Risk Management Framework which incorporates our Risk Register, Risk Timetable, Risk Management Plan, Roles and Responsibilities, and Board Assurance Framework.

The framework is designed to outline the various risks that the Hospice may encounter, the strategies for managing these risks, and the assurance framework for the Board of Trustees to oversee the effectiveness of risk management processes.

Approach

Our approach to risk management is rooted in proactive identification, assessment, and mitigation of potential risks to ensure the safety and wellbeing of our patients, their loved ones, staff, volunteers, and stakeholders. We acknowledge the risks inherent in achieving our mission and we are committed to managing those risks that pose a threat to the achievement of our strategic objectives and financial sustainability.

We believe in fostering a culture of risk awareness across all levels in the organisation, promoting transparency, communication and continuous improvement. Risk management is an integral part of all executive meeting agendas, allowing the ongoing identification, assessment and management of risk to be carried out in a meaningful way.

Overview

The framework is divided into four main sections:

Roles & Responsibilities: A list of identified roles and responsibilities across the organisation
• Risk Timetable: A schedule outlining key activities related to risk management, including risk assessments, mitigation actions, monitoring and review processes
Risk Register: A comprehensive list of identified risks, categorised and assessed based on their likelihood and potential impact on the Hospice’s operations and objectives
Risk Management Plan and Board Assurance Framework: A framework to provide oversight and assurance regarding the effectiveness of the strategies and actions for managing identified risks effectively, including prevention, mitigation, contingency planning, and response procedure

Principal Financial Risks

The main ongoing financial risk to the continued activity of the Hospice is its continued reliance upon the (net) income from fundraising activity (Fundraising and Retail).

These funds typically contribute more than 70% of the costs directly associated with our clinical operation. However, they could at any time prove inadequate to allow the Hospice to continue to operate at current service levels.

The cost-of-living crisis and economic uncertainty continues to affect the propensity for giving. Whilst we are seeing increased demand on our care services and rising costs, we are also seeing greater competition for donations calling for ever-increasing levels of resilience and creativity to manage the risk.

Legacy income should be expected to improve over time and the Hospice works to encourage legacy giving for the future. Shortfalls in legacy income on an annual basis represent a lower risk as, for the purposes of forward planning and budgeting, this income is traditionally viewed prudently.

The balance of our funds is derived primarily from our contract for clinical services with the Surrey Heartlands Integrated Care Board (ICB). This contract is for Inpatient, Community and “Hospice at Home” services.

It has been the case for a number of years that talent retention has seen a challenging hiring environment, particularly amongst clinicians, resulting in the Hospice becoming too reliant on Agency and Bank staff. However, due to positive management in this area, succession planning, employee development, addressing shift patterns and by addressing the working environment, risk in this area has been reduced.

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Principal Risks and Uncertainties

Total Reserves

The total reserves of Woking Hospice decreased by £1,320k during the year and totalled £12.9m as at 31 March 2024. This compares with a total of £14.2m on 31 March 2023.

Reserves Policy

The Hospice needs to hold adequate levels of Reserves to ensure that its known liabilities can be met. The Reserves Policy is on the basis of costs, excluding depreciation, less guaranteed contract income. The Trustees will be considering the Reserves Policy in greater detail with a view to changing to a risk-based approach in future years.

It is the view of the Trustees that six months reserves will enable the charity to meet its future charitable expenditure and allow it to be able to react to a significant short term drop in income. We carry out financial planning for a three year period, including income and expenditure, to enable the hospice to put plans in place for both growth and cost management and has set a balanced on-going operational budget in cash terms for the coming year which we believe is achievable.

As at 31 March 2024, Free Reserves stood at £3,054k which includes a cash balance of £3,002k. There is a reduction in these figures mainly due to the deficit movement in funds in the year (£1,320k), together with the long-term investment of which is now valued at £824k. This represents just under six months of operating costs, which includes not only the costs of the staff required to deliver the service offered by the Hospice but also those staff members who are involved in raising funds and providing support services.

Cost of operating our Charitable Activity

For every £1 of charitable income received, around 87.2p is spent on charitable activities with the balance utilised on generating this income.

Going Concern

The principal financial risks facing the Hospice are summarised on page 15 and reflect the inherent uncertainties of the Hospice and charity sector. The Trustees consider that there are no material uncertainties regarding the charitable company’s ability to continue as a going concern for the foreseeable future.

The balance of income after our fundraising and other charitable activities derived primarily from our contract for clinical services with the Surrey Heartlands Integrated Care Board (ICB). This contract is for Inpatient, Community and “Hospice at Home” services.

The Hospice’s relevance to the communities of Northwest Surrey has never been so important at a time when more and more people are needing hospice care. The Hospice has continued to build on its relationships with its partners within the NHS Northwest Surrey Alliance and wider Surrey Heartlands Integrated Care System and it is gratifying to see ever closer collaboration.

also focuses quarterly on cash flow forecasts on a rolling 24-month basis and annually over a 36month basis. Despite the cost pressures noted above, our cash reserve position appears to be sufficiently strong to maintain activities at full capacity levels.

Accordingly, the financial statements have been prepared on a going concern basis as the Trustees consider that no material uncertainties exist concerning its ability to meet its financial obligations as they fall due for the foreseeable future.

Looking Ahead

During 2023/24 and in more recent months, the Hospice has strengthened its management team and taken steps to reduce its support staff costs while investing in its clinicians and medical teams. Its new, Integrated Risk Management Framework is rooted in proactive identification, assessment, and mitigation of potential risks. The Hospice acknowledges the risks inherent in achieving its mission and is committed to managing those risks that pose a threat to the achievement of its strategic objectives and financial sustainability.

A significant project to introduce electronic patient notes across the in-patient unit and throughout the Community Palliative Care Team has been successfully introduced on time and below budget. This will have the impact of increasing operational efficiencies and further enhance quality, safety and the patient experience. A new Human Resource platform is in the process of implementation and again this will reduce support costs and increase efficiencies.

Through its Quality Account 2023/24 delivered to the Surrey Heartlands Integrated Care Board (ICB), the Commissioner commented; “We would also like to recognise the continued efforts that the Hospice, via its staff and volunteers, makes to improve integration and local system partnership working for the benefit of palliative care patients in Northwest Surrey (NWS).”

With the Hospice an established and committed member of the NHS Northwest Surrey Health and Care Alliance, our progress gives assurance to our partners in the local healthcare economy of our long-term sustainability. We believe we can achieve more by working together and we are committed to joining up health and care services in palliative and end of life care in the very best interests of our patients and their families.

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Trustees, Responsibilities The Trustees who are also Directors of Woking Hospice for the purposes of Company Law are responsible for preparing the Trustees, Annual Report and the flnanclal statements in accordance wlth applicable low and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees to prepare financial statements for the financlal year that give a true and fair view of the state of affairs of the charitable company. They must 3150 give a true and fair view of the incoming resource5 and appllcatlon of resources, including the income and expendlture of the charltable company for that period. In preparing these financial statements, the Trustees are requlred to.. A. Select sultablp accounting policies and then apply them conslstently B. Observe the methods and prlnciples In the Charlties St31ement of RecommEnded Practlce5 C. State whether applicable accounting standards have been followed, subject to any material departure5 dlsclosed and explained In the flnanclal statements D. Make judgement5 and estimates that are reasonable and prudent and,. E. Prepare the flnancial statements on the golng concern basis unle55 It 15 inapproprlate to presume that the charitable company will continue in bu5ines5 The Trustees are responsible for keeping adequate accounting records whlch dlstlose wlth reasonable accuracy at any time the financlal posltion of the charitable company and to 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 for taking reasonable steps for the prevention and detectlon of fraud and other Irregularities. So far a5 the Trustees are aware, there Is no relevant audit Informatlon of whlch the company's Audltor is unaware. Each Trustee has taken all the steps that he or she ought to have taken as a Oirector in order to make himself or herself aware of any relevant audit information and to establish that the company's Auditor is aware of that information. The Trustees, Annual Report and Strateglc Report have been approved and authorlsed for Issue by the Board on 23 October 2024 and signed on its behalf by.. Tim Stokes Chair of the Board of Trustee5 23" October 2024 18

WOKING HOSPICE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WOKING HOSPICE

Opinion We have audited the financial statements of Woking Hospice for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.

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 accounts 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 accounts 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 We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

the use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

-19-

WOKING HOSPICE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WOKING HOSPICE

Matters on which we are required to report by exception

In the light of the knowledge and understanding of Woking Hospice and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees Report or the Quality Report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

As explained more fully in the statement of responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity’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 We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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, is detailed below. ¢ We obtained an understanding of the legal and regulatory frameworks applicable to the charity and the sector in which they operate. We determined that the following were most significant: the Companies Act 2006, the Charities Act 2011.

¢ We obtained an understanding of how the charity is complying with those legal and regulatory frameworks by making inquiries to the management of the charity. We corroborated our inquiries through our review of correspondence during our audit work.

¢ We assessed the susceptibility of the charity's financial statements to material misstatement, including how fraud might occur. Audit procedures performed included: e identifying and assessing the design and implementation of controls management has in place to prevent and detect fraud; e understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; e challenging assumptions and judgements made by management in it's significant accounting estimates; e identifying and testing journal entries; and e assessing the extent of compliance with the relevant laws and regulations.

-20-

WOKING HOSPICE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WOKING HOSPICE Because of the inherent limitations of an audit, there is a risk that we will not delect all irregular6ties, including those leading to a material misslalement in the financial slatements or non-compliance with regulation. This risk increases the more thal compliance with a law or regulalion is removed from the events and Iransactions 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 cKincealment. forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. http'.lthvw.frc.org.uklaudilorsresponsibilities. This description foryns part of our aLtditorfs report. Use of our report This report is made solely lo the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo the charity's trustees those matters we are required lo slate lo them in an auditors, report and for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have fomied. Colln Hamilton (Senior Statutory Audltor} for and on behalf of Ward Williams Llmited 2&1iolL4 Chartered Accountsnts statutory Auditor Belgrave House 3943 Monument Hill Weybridge Iff13 8RN Ward Williams Limited is eligible for appointment as auditor of the charitable company by virtue of its eligibillty for appointment as auditor of a company under of section 1212 of the Companies Act 2006 21

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WOKING HOSPICE BALANCE SHEET ASAT 31 MARCH 2024 2024 2023 Notes Flxed a8$et3 Tangible assets Inveslmenls 13 14 8,940.708 823.621 9,002,908 745,296 9.764,329 9,748,204 Curront assets Stocks Debtors Cash at bank and In hand 16 17 7.143 1,525,736 3.002,125 3,195 2,622,899 3,244,420 4,535.004 5,870.514 Credltors: amounts falllng due wlthln one year 18 {1,445,779) {1,445,0411 Net current assets 3,089.225 4,425.473 Total a$sets less current liabllltlos 12,853,554 14,173,677 Income funds Reslrlcled funds UnrestTicled funds 21 35.982 12.817.572 80,524 14,093,153 12,853,554 14,173,677 These financlal slal6m6nls have been prepared in accordance wilh the provislons appllcable to companies sublecl lo the small companies regime. Th& notes on pages 25 - 44 form part of these financlal slalements. The financlal 8lalements were approved by the Trustees on ..4Y. O.¢! OA.(y{ Zili--7 J Ja99er Trustee Company Reglstratlon No. 03955487 23-

WOKING HOSPICE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

		2024		2023	2023
	Notes	£	£	£	£
Cash flows from operating activities
Cash absorbed by operations	28		(2,766)		(987,255)
Investing activities
Purchase of tangible fixed assets		(323,200)		(239,449)
Purchase of investments		-		(750,000)
Interest received		83,671		33,124

Net cash used in investing activities			(239,529)		(956,325)
Net cash used in financing activities			-		-

Net decrease in cash and cash equivalents			(242,295)		(1,943,580)
Cash and cash equivalents at beginning of year			3,244,420		5,188,000

Cash and cash equivalents at end of year			3,002,125		3,244,420

24 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Woking Hospice is a charitable company limited by guarantee and a registered charity in the United Kingdom. The address of the registered office is given in the charity information page of these financial statements.

The charity's principal activities are the provision of palliative care and hospice services to the communities in North West Surrey.

In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. The presentational currency is Pound Sterling (£).

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charities SORP, the Charities Act 2011, the Companies Act and 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).

Woking Hospice meets the definition of a public benefit entity under FRS102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, unless stated otherwise in the relevant accounting policy note. The principal accounting policies adopted are set out below.

The Trustees have taken the option set out in the Charities SORP paragraph 24.13A not to prepare consolidated financial statements, where the exclusion of a subsidiary from consolidation is not material to the truth and fairness of these accounts. The trustees believe that doing so would not result in the affected primary statements or notes being materially different when compared to those of consolidated statements. Where Sam Beare Hospice generates a surplus, the historic and present strategy of its trustees is that the charity grants this entire surplus to Woking Hospice.

1.2 Going concern

The principal financial risks facing the Hospice are summarised in Trustees report and reflect the inherent uncertainties of the Hospice and charity sector. The Trustees consider that there are no material uncertainties regarding the charitable company’s ability to continue as a going concern for the foreseeable future.

At a time when new challenges are becoming more apparent, including the pressure for further wage rises and other operational cost increases, the Finance and Sustainability Committee continued to monitor monthly financial performance against Budget and Prior Year. The Committee also focuses quarterly on cash flow forecasts on a rolling 24-month basis and annually over a 36-month basis. Despite the cost pressures noted above, our cash reserve position appears to be sufficiently strong to maintain activities at full capacity levels.

25 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in the furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the charity or its subsidiary are legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Donations

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount until these conditions are fully met or the fulfilment on these is within the control of the charity and it is probable that they will be fulfilled. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. At this point income is recognised. If the amount is not known, the legacy is treated as a contingent asset. This would normally be the case when charity gets notified of legacies however it is impossible to measure the expected distribution amount.

Donated facilities and services

Donated facilities and donated professional services are recognised as income at their fair value when the following conditions are satisfied: when their economic benefit is probable, they can be measured reliably, and the charity has control over them. Fair value is determined on the basis of the value of the gift to the charity which is the value dictated by the open market for comparable facilities and services.

No amount has been recognised in the financial statements for any volunteers' activity time donated in line with criteria outlined in the SORP (FRS102). This was also detailed in the Trustees' Annual Report.

Trading and fundraising

Income from trading activities consists of income earned from fundraising events and any trading activities required to raise funds for the charity and its subsidiary undertaking. Fundraising income is recognised in the accounts when the entitlement to the income has occurred.

This would normally occur when the following conditions are satisfied: on or shortly after when the fundraising activity or event takes place, the charity has fulfilled any performance-related conditions attached to the income (where any), there is a reasonable assurance that the income will be received by the charity, and the value of the income can be quantified with reasonable accuracy.

26 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Sales of donated goods

The revenue derived from sale of donated goods for resale would normally be recognised in income as follows:

1) For store sales, when the goods are sold to customers at the point of exchange of goods for payment from customers at the till if in store sales.

2) For on-line platforms sales (e.g., eBay sales), when customer places an order and makes the payment, which is also usually the same day when goods are despatched.

There were no donations of goods recognised as stock in the year ended 31 March 2024 (2023: £Nil). It is impractical to estimate the fair value of these goods on receipt because of the volume of low value items received and the lack of detailed records and comparable market data to arrive at a lower of cost and net realisable value of these goods when donation is received.

Government support

Income from government sources is recognised at fair value when the charity's entitlement arises. This is when the income performance conditions have been met, it is probable that the revenue will be received, and the amount can be measured reliably. If the entitlement's conditions cannot be met, the revenue is deferred until these conditions are satisfied.

1.5 Resources expended

All expenditure is accounted for on an accruals basis and is classified on an aggregate basis under relevant and most appropriate costs categories, in line with their nature and purpose.

Expenditure is recognised when there is a legal or constructive obligation to make payments or the charity becomes liable for these payments to the third parties, it is probable that the settlement will be required, and the amount of the settlement can be measured reliably.

Cost of raising funds includes the costs which relate to income generation and retail departments.

Expenditure on charitable activities includes all costs of the provision of hospice services.

Irrecoverable VAT is charged as an expense against the activity as a result of which the relevant expenditure occurred.

All expenditure is inclusive of irrecoverable VAT.

Support costs allocation

Support costs are expenses which were incurred with the view of support of charitable activities but do not directly represent these activities. These consist of office costs, governance costs and administrative payroll costs, and are linked directly to the support of expenditure on the objectives of the charity and include project management. Support costs also include governance costs incurred in relation to the compliance with constitutional and statutory requirements. The analysis of support costs is presented in Note 9.

Where support costs cannot be directly attributed to particular headings, they are allocated to the cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Premises overheads are allocated on a usage basis and other overheads are apportioned on basis consistent with use of the resources as follows: heads, Full Time Equivalent (FTE), floor space and expenditure.

27 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Hospice buildings 2% Shop and warehouse fittings 20% Fixtures and fittings 15%-33% Motor vehicles 20%-30%

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. Investment income is recognised in the period in which the charity is entitled to receipt.

1.8 Impairment of fixed assets

At the end of each reporting date, the charity reviews the carrying amounts of tangible assets, to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises all costs of purchases, costs of conversion and those costs that have been incurred in bringing the stock to their present location and condition. Cost is calculated using the first in, first out method. Provision is made for slow moving and obsolete stock where appropriate.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand and in bank and cash relating to short-term listed liquid investments.

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

28 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances and other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Debtors which are not subject to interest rates and are receivable within one year are recognised at transaction price. Any losses arising from impairment are recognised as expenditure.

Basic financial liabilities

Basic financial liabilities, including trade creditors, intercompany balances and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

1.12 Fund accounting

General funds are unrestricted and are available to the charity at the discretion of the Trustees in the furtherance of the general objectives of the charity.

Restricted funds are used in accordance with specific restrictions imposed by donors or which have been raised by the charity for any particular purposes. The cost of raising and administering restricted funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, both gains and losses are allocated to the appropriate fund.

2 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

29 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2 Critical accounting estimates and judgements

(Continued)

Critical judgements

Useful economic life of fixed assets Judgements:

The estimation of the useful economic life of depreciated assets involves significant judgement. Trustees consider various factors, including the assets' expected usage, technological advancements, maintenance policies, and historical performance. These judgements are critical in determining the depreciation rates and underlying useful economic life of each assets category.

Key sources of estimation uncertainty:

Usage Patterns: Variations in how frequently and intensively assets are used can impact their useful life. Maintenance Practices: The quality and frequency of maintenance can extend or shorten an asset’s useful life.

Market Conditions: Economic shifts can influence the demand for certain assets, affecting their useful life.

Ensuring appropriate and accurate estimates:

Regular Reviews: Trustees conduct regular reviews of the useful economic life of assets, considering any changes in the factors mentioned above. This ensures that the estimates remain relevant and accurate over time.

Historical Data Analysis: Trustees analyse historical data on asset performance and depreciation can help in making informed estimates. This includes reviewing past estimates and comparing them with actual outcomes.

Donated goods Judgements:

Estimating the value of goods donated to charity by donors involves significant judgement, particularly when high volumes make it impractical to assess each item individually. Trustees consider these to be challenging due to the nature of the donations, the variability in the condition and quality of the items, and the logistical challenges in valuing large quantities of goods.

Key Sources of Estimation Uncertainty:

Volume of Donations: High volumes of donated goods make it challenging to individually assess and value each item.

Condition and Quality: The condition and quality of donated items can vary widely, adding to the complexity of valuation.

Lack of Market Data : Limited market data for certain types of donated goods can hinder accurate valuation. Logistical Constraints: Practical difficulties in sorting, categorising, and valuing large quantities of donations. Donor Information: Incomplete or inconsistent information from donors regarding the donated items.

Ensuring Appropriate and Accurate Estimates:

The Trustees decided not to value the goods received from donors due to extensive impracticalities behind the process and above factors mentioned.

30 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2 Critical accounting estimates and judgements

(Continued)

Allocation of support costs Judgements:

Allocating support costs between raising charitable funds and activity support costs involves significant judgement. Trustees consider the nature of the activities, the direct and indirect benefits derived from the support costs, and the proportionality of the allocation. These judgements are essential to ensure that the financial statements accurately reflect the charity's resources utilisation.

Key Sources of Estimation Uncertainty:

Activity Overlap : Some support activities on occasions benefit both fundraising and operational activities, making it challenging to allocate costs accurately.

Indirect Benefits: Indirect benefits of support costs, such as administrative expenses, can be difficult to quantify and allocate.

Proportionality: Determining the appropriate proportion of support costs to allocate to each activity can be subjective and may vary over time.

Data Availability: Limited or inconsistent data on the usage and impact of support costs can hinder accurate allocation.

Changing Priorities: Shifts in charity's priorities and strategies can affect the allocation of support costs.

Ensuring Appropriate and Accurate Estimates:

Clear Allocation Criteria: Trustees set out clear and consistent criteria for allocating support costs. This includes defining the basis for allocation, such as time spent, resources used, or direct benefits derived.

Regular Reviews: Trustees conduct regular reviews of the allocation methods and assumptions which ensures that the estimates remain relevant and accurate over time. This includes updating the methods based on new information or changes in charity activities.

Detailed Documentation: Trustees maintain detailed documentation of the assumptions, methodologies, and criteria used in allocating support costs.

Continuous Improvement: Trustees foster a culture of continuous improvement, encouraging feedback and learning from past allocation errors. This iterative process helps in refining the allocation techniques and enhancing accuracy.

3 Donations and legacies

	Total 2024	Total 2024	Total	Total
	unrestricted	restricted	2024	2023
	£	£	£	£
Donations	224,291	339	224,630	165,185
In memory donations	452,927	12,876	465,803	497,048
Legacies receivable	605,078	-	605,078	459,953
Grants from trusts	24,274	150,415	174,689	281,293
Grants from subsidiary	166,169	-	166,169	767,781
Corporate	186,581	3,245	189,826	-

	1,659,320	166,875	1,826,195	2,171,260


For the year ended 31 March 2023	2,046,915	124,345		2,171,260

31 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

4 Charitable activities

		Total 2024	Total 2024	Total	Total
	unrestricted		restricted	2024	2023
		£	£	£	£
Integrated Care Board (previously Clinical
Commissioning Group)		1,687,034	-	1,687,034	654,324
Continuing care		480,571	-	480,571	461,021
NHSE		-	-	-	54,278
Hospice at home		499,151	-	499,151	487,871
Other		551,535	48,585	600,120	637,677

		3,218,291	48,585	3,266,876	2,295,171


For the year ended 31 March 2023
Unrestricted funds		2,240,892	-		2,240,892
Restricted funds		-	54,279		54,279

		2,240,892	54,279		2,295,171

NHSE funding in the year ending 31 March 2023 was provided by NHSE as a result of Covid-19 crisis. This particular type of income is not expected to be received any further and this funding stream ended in the prior year.

Other charitable income consists mainly of pharmacy services, support services and doctors' recharged income.

5 Other trading activities

	Unrestricted	Restricted	Total	Total
	funds	funds	Total 2024	Total 2023
			Unrestricted	Unrestricted
	£	£	£	£
		-
Lottery and raffles	329,606	-	329,606	391,239
Fundraising events	510,705	17,760	528,465	499,526
Shop income	2,635,601	-	2,635,601	2,470,099
Gift Aid on shop income	234,922	-	234,922	203,729
Other	41,816	-	41,816	94,395

	3,752,650	17,760	3,770,410	3,658,988

32 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

6 Investments

	Total 2024	Total 2023
	unrestricted	unrestricted
		(restated)
	£	£
Rental income	16,800	33,600
Bank interest receivable	83,671	38,264

	100,471	71,864

Rental income in the year ending 31 March 2023 was netted off rental costs. During the year ending 31 March 2024 rental income was classified to investment income. This resulted in the change of the above prior year results from £38,264 to revised £71,864. Trustees are of the opinion that it is not material to reclassify this amount on the face of the Statement of Financial Activities.

7 Raising funds

	Unrestricted	Unrestricted	Unrestricted	Restricted	Restricted		Total		Total
			funds		funds	Total 2024		Total 2023
						unrestricted		unrestricted
			£		£		£		£
Fundraising and publicity
Direct fundraising costs			649,175		1,005		650,180		713,000
Direct retail costs			2,307,847		-		2,307,847		1,988,000
Support costs			403,587		-		403,587		301,000

			3,360,609		1,005		3,361,614		3,002,000


Charitable activities
	Total 2024			Total 2024			Total		Total
	unrestricted			restricted			2024		2023
			£		£		£		£
Direct costs of palliative care		3,753,230			274,967	4,028,197			4,443,000
Recharges of doctors' costs			553,884		-		553,884		-

		4,307,114			274,967	4,582,081			4,443,000
Support costs		2,416,915			1,790	2,418,705			1,827,638

		6,724,029			276,757	7,000,786			6,270,638

8 Charitable activities

33 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

9 Support costs

Support costs
	Raising	Charitable	2024	2023	.
	funds	activity	Total	Total
	2024	2024
	£	£	£	£
Finance	64,224	384,896	449,120	321,000
Information Technology	42,000	251,706	293,706	303,000
HR & volunteering	35,951	215,457	251,408	229,000
Property	123,164	738,126	861,290	613,000
Management	31,628	189,548	221,176	133,000
Governance	366	2,194	2,560	27,000
Legal	2,288	13,709	15,997	3,000
Other	103,966	623,069	727,035	499,000

	403,587	2,418,705	2,822,292	2,128,000

Other support costs at £727,035 (2023: £499,000) relate to maintenance and management of hospice care centres and marketing and communication.

The above governance costs relate to access to Governor Hub and Stay and Information Commissioner Office (ICO) relating costs.

In addition to the above support costs, there are further governance costs included within Management, Finance and Legal support costs presented above. These are audit fees of £33,640 (2023: £25,000) and legal and professional fees of £24,761 (2023: £41,000).

Total governance costs across all costs categories amounted to £74,398 (2023: £93,000).

Net movement in funds	2024	2023
	£	£
Net movement in funds is stated after charging/(crediting)
Fees payable to the company's auditor for the audit of the company's financial
statements	33,640	25,000
Depreciation of owned tangible fixed assets	385,400	372,549
Operating lease charges	456,702	436,000

34 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11 Trustees' and key management personnel remuneration and expenses

The total amount of employee benefits received by key management personnel is £578,267 (2023: £556,716). The charity considered that the following are key management personnel: The Trustees, Chief Executive, Head of Finance & IT, Fundraising Director, Medical Director, Director of Clinical Services, Marketing and Retail Director, HR & Volunteer Service Manager.

Trustees incurred expenses of £153 during the year (2023: £Nil) which relate to out of office meeting room hire. None of these expenses were paid via third party.

No Trustees are accruing pension arrangements. The Trustees were covered by qualifying indemnity insurance during the year. The Trustees neither received nor waived any remuneration during the year (2023: £Nil). No Trustees received payment for professional or other services supplied to the charity.

12 Employees

The average monthly number employees during the year was:

The average monthly number employees during the year was:
	2024	2023
	Number	Number
Raising funds	78	69
Charitable activities	103	90
Management, finance and administration	25	21

	206	180


Employment costs	2024	2023
	£	£
Wages and salaries	6,514,980	5,596,724
Social security	606,606	528,659
Pension	385,750	316,523

	7,507,336	6,441,906

The number of employees whose annual remuneration was £60,000 or more were:

The number of employees whose annual remuneration was £60,000 or more were:
	2024	2023
	Number	Number
£60,000-70,000	2	6
£70,000-80,000	6	2
£80,000-90,000	1	2
£90,000-100,000	2	1
>£100,000	2	-

	13	11

35 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

13 Tangible fixed assets

Tangible fixed assets
	Hospice	Shop and	Fixtures and	Total
	buildings	warehouse	fittings
		fittings
	£	£	£	£
Cost
At 1 April 2023	8,901,326	944,362	1,698,858	11,544,546
Additions	-	53,661	269,539	323,200
Disposals	-	(30,752)	-	(30,752)

At 31 March 2024	8,901,326	967,271	1,968,397	11,836,994

Depreciation and impairment
At 1 April 2023	296,011	817,617	1,428,010	2,541,638
Depreciation charged in the year	178,026	58,757	148,617	385,400
Eliminated in respect of disposals	-	(30,752)	-	(30,752)

At 31 March 2024	474,037	845,622	1,576,627	2,896,286

Carrying amount
At 31 March 2024	8,427,289	121,649	391,770	8,940,708


At 31 March 2023	8,605,315	126,745	270,848	9,002,908

14 Fixed asset investments

		Listed	Cash on	Total
	investments		investments
		£	£	£
Cost or valuation
At 1 April 2023		740,962	4,334	745,296
FV movement		82,076	-	82,076
Cash held as investments movement		-	(3,751)	(3,751)

At 31 March 2024		823,038	583	823,621

Carrying amount
At 31 March 2024		823,038	583	823,621


At 31 March 2023		740,962	4,334	745,296

Historic cost of listed investments held as at the year-end brought forward from previous year is £750,000.

36 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15	Financial instruments	2024	2023
		£	£
	Carrying amount of financial assets
	Debt instruments measured at amortised cost	1,183,340	2,201,217
	Equity instruments measured at cost less impairment	823,621	745,296


	Carrying amount of financial liabilities
	Measured at amortised cost	657,354	621,332


16	Stocks
		2024	2023
		£	£
	Christmas cards and similar goods	7,143	3,195


17	Debtors
		2024	2023
	Amounts falling due within one year:	£	£
			(restated)
	Trade debtors	675,203	619,815
	Amounts due from fellow group undertakings	166,792	1,235,371
	Other debtors	422,956	435,523
	Prepayments and accrued income	260,785	332,190

		1,525,736	2,622,899

There was a correction applied to the Debtors note as at 31 March 2023 because it was presented incorrectly in the note. £1,020,000 has been reclassified to Amounts due from fellow group undertakings from Other debtors balance. No restatement was required in the Balance Sheet as a result of this.

18 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
		2024	2023
	Notes	£	£
Trade creditors		139,864	188,962
Other taxation and social security		167,175	137,148
Deferred income	19	621,250	686,561
Accruals		399,244	383,662
Other creditors		118,246	48,708

		1,445,779	1,445,041

37 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

19 Deferred income

	2024	2023
	£	£
Deferred income	621,250	686,561

Deferred income comprises mainly ICB advance income, together with income from fundraising events held in 2024/25.

20 Retirement benefit schemes

The total employer pension contribution to all schemes for the year ended 31 March 2024 charged to Statement of Financial Activities was £385,750 (2023: £316,523).

Auto-enrolment

All employees meeting certain criteria must be enrolled into a workplace pension if they are not already in a qualifying scheme. The Hospice has chosen Royal London to meet is auto-enrolment obligations. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The auto-enrolment pension contributions payable in the year were £146,160 (2023: £122,830).

NHS Pension Scheme

The Hospice makes payments to the NHS Pension Scheme for former NHS employees who, on employment with the Hospice, are eligible to continue in or re-join the NHS Pension Scheme. The NHS Pension scheme is an unfunded defined benefit scheme that covers employees of NHS employers, General Practices and other bodies allowed under the directive of the Secretary of State for Health and Social Care in England and Wales, which includes the Hospice. It is impossible to identify the Hospice's share of the underlying assets and liabilities and as a result of that, the NHS Pension Scheme is treated as a defined contribution scheme under FRS102.

The NHS employer pension contributions payable in the year were £239,590 (2023: £193,693).

38 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

21 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:

		Movement in funds	Movement in funds	Movement in funds
Year-ended 31	Balance at 1	Incoming		Resources	Balance at 31
March 2024	April 2023	resources		expended	March 2024
	£		£	£		£
CNS	13,000		208,859	(220,391)		1,468
Horticultural Project	3,000		-	(3,000)		-
Counselling	-		3,610	-		3,610
Equipment	24,244		14,263	(8,700)		29,807
On call service	-		-	-		-
Clinical IT systems	37,563		-	(37,563)		-
Wellbeing	1,938		5,187	(7,103)		22
NHSE	-		-	-		-
Other	779		1,301	(1,005)		1,075

	80,524		233,220	(277,762)		35,982


		Movement in funds
Year-ended 31	Balance at 1	Incoming		Resources	Balance at 31
March 2023	April 2022	resources		expended	March 2023
	£		£	£		£
CNS	5,000		87,000	(79,000)		13,000
Horticultural Project	-		3,000	-		3,000
Counselling	-		1,000	(1,000)		-
Equipment	15,000		9,244	-		24,244
On call service	-		19,000	(19,000)		-
Clinical IT systems	37,563		-	-		37,563
Wellbeing	-		5,000	(3,062)		1,938
NHSE	-		54,000	(54,000)		-
Other	779		-	-		779

	58,342		178,244	(156,062)		80,524

39 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

21 Restricted funds

(Continued)

Funds description is as follows:

Clinical Nurse Specialists (CNS) funds provided to support care at home.

Horticultural project is for funds to be spent on the hospice gardens.

Counselling funds are to assist in the delivery of the counselling service to patients and family members.

Equipment fund is to assist in the purchase of clinical equipment such as new beds and chairs for the wellbeing centres and the ward.

The On call service fund is for the service provided by the medical team, including external support, following the need to move this service predominantly in-house.

Clinical IT systems fund is for the EMIS project for the community teams.

22 Unrestricted funds

The income funds of the charity include the following unrestricted funds which have been set aside out of unrestricted funds by the Trustees to meet the objectives of the charity:

			Movement in funds	Movement in funds
Year-ended 31	Balance at 1		Incoming	Resources	Balance at 31
March 2024		April 2023	resources	expended	March 2024
		£	£	£		£
Unrestricted funds - general		14,093,153	8,809,057	(10,084,638)		12,817,572


			Movement in funds
Year-ended 31	Balance at 1		Incoming	Resources	Balance at 31
March 2023		April 2022	resources	expended	March 2023
		£	£	£		£
Unrestricted funds - general		15,232,623	7,986,059	(9,125,529)		14,093,153

40 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

23 Analysis of net assets between funds

	Total 2024	Total 2024	Total 2024	Total 2023
	Unrestricted	Restricted
	£	£	£	£
Fund balances at 31 March 2024 are
represented by:
Tangible assets	8,940,708	-	8,940,708	9,002,908
Investments	823,621	-	823,621	745,296
Current assets/(liabilities)	3,053,243	35,982	3,089,225	4,425,473

	12,817,572	35,982	12,853,554	14,173,677

Total restricted net assets funds for the year ending 31 March 2023 related to current assets and amounted to £80,524.

24 Operating lease commitments

Operating leases mainly relate to shop leases.

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

	2024	2023
	£	£
Within one year	459,118	451,000
Between two and five years	1,571,137	1,314,000
In over five years	1,580,663	1,214,000

	3,610,918	2,979,000

25 Related party transactions

Event costs totalling £1,120 (2023: £560) were paid to an entity which is operated by the spouse of a Trustee, Richard Roberts, that is considered a related party. The Trustee has neither direct nor indirect interest or control in that entity.

26 Members liability

The charity is constituted as a company limited by guarantee. In the event of the charity being wound up, the liability of each member is limited to a maximum of £1, being the amount that each member undertakes to contribute to the assets of the charity. This applies to the period during their appointment and during the period within one year from termination of appointment.

41 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

27 Subsidiaries

Sam Beare Hospice

Sam Beare Hospice is a wholly controlled subsidiary of Woking Hospice, with company number 05822985 and charity number 1115439, registered office of Goldsworth Park Centre, Woking, Surrey, GU21 3LG. Woking Hospice operates as Woking & Sam Beare Hospices. The fundraising surplus from Sam Beare Hospice has been given to Woking Hospice as a grant for services. The decision to do so annually was agreed at the Board of Trustees' meeting on 11 November 2020 until further notice. No notice as such has been issued to date. In 2024 Sam Beare awarded a grant of £166,169 (2023: £767,781) to Woking Hospice.

Whilst the income for Sam Beare is £172,289 (2023: £769,643), the Trustees decided not to consolidate the two entities this year, similarly to previous years since 2017. If in the future it appears that Sam Beare is consistently receiving notifications of high value donations, legacies or other charitable income, then the point of consolidation will be reviewed again.

The individual financial statements of the subsidiary are presented below.

Details of the charity's subsidiaries at 31 March 2024 are as follows:

Name of undertaking	Registered	Nature of business	% Held
	office		Direct
Sam Beare Hospice	England and	Medical nursing home	100
	Wales	activities

42 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

27 Subsidiaries

(Continued)

Statement of Income and Expenditure

	Unrestricted	Unrestricted		Restricted
	Funds 2024		Funds 2024		2024 Total	2023 Total
		£		£	£	£
Income from:
Donations and legacies		158,827		-	158,827	763,671
Other trading		3,728		-	3,728	2,166
Investment		9,734		-	9,734	3,806

Total		172,289		-	172,289	769,643


Expenditure from:
Charitable activities		1,035		-	1,035	-
Governance costs		5,085		-	5,085	1,235
Grant to Woking Hospice		166,169		-	166,169	768,408

Total		172,289		-	172,289	769,643


Net Income and
Expenditure		-		-	-	-


Reconciliation of funds:
Total funds brought forward		-		-	-	-
Total funds carried forward		-		-	-	-

The Statement of Financial Activities includes all gains and losses recognised in the year.

Balance Sheet

	2024 Total		2023 Total
	£		£
Current assets
Debtors	31,261		148,000
Cash at bank and in hand	138,229		1,088,000

Total current assets	169,490		1,236,000

Creditors: amounts falling
due within one year	(169,490)	(1,236,000)

Net current assets	-		-


Total assets less total
liabilities	-		-


Net Assets	-		-

43 -

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

27 Subsidiaries

(Continued)

Funds of the Group/ Charity
Unrestricted funds	-	-
Restricted funds	-	-

Total funds	-	-

Cash generated from operations	2024	2023
	£	£
Deficit for the year	(1,320,123) (1,116,955)
Adjustments for:
Investment income recognised in statement of financial activities	(100,471)	-
Gain on investments	(78,325)	-
Fair value gains and losses on investments	-	5,000
Depreciation and impairment of tangible fixed assets	385,400	372,550
Movements in working capital:
(Increase)/decrease in stocks	(3,948)	3,000
(Increase)/decrease in debtors	1,097,163	20,000
Increase/(decrease) in creditors	738	(236,000)
Rental income	16,800	(34,000)
Prior year '£000 rounding variance	-	(1,045)

Cash absorbed by operations	(2,766)	(987,255)

44 -

WOKING HOSPICE

LEGAL AND ADMINISTRATIVE INFORMATION

Charity number	1082798
Company number	03955487
Secretary	Anne Collett
Registered office	The Goldsworth Park Centre
	Woking
	GU21 3LG
Trustees	Nicola Eggers (resigned 7 June 2024)
	Susan Gent
	Peter Goodyear
	Jon Jagger
	Tony Jarvis
	Kerry Jarred
	Carina Kemp
	Marc Riggs
	Richard Roberts
	Timothy Stokes
	Janice Whitby (resigned 13 March 2024)
Auditor	Ward Williams Limited
	Belgrave House
	39-43 Monument Hill
	Weybridge
	KT13 8RN
Bankers	Barclays Bank Plc
	Leicester
	LE87 7BB
	Lloyds TSB Plc
	Gail House
	Lower Stone Street
	Maidstone
	ME15 6NB
Investment managers	Rathbones Group Plc
	8 Finsbury Circus
	London
	EC2M 7AZ
Solicitors	Moore Barlow
	The Oriel, Sydenham Road
	Guildford
	GU1 3SR

45 -

Woking & Sam Beare Hospice and Wellbeing Care

E: info@wsbhospices.co.uk

T: 01483 881750

www.wsbhospices.co.uk

Woking Hospice

Goldsworth Park Centre Woking

Woking Hospice | Annual Report and Financial Statements | Year Ended 31 March 2024 | 19

Woking Hospice An Introduc#on

Contents

Woking Hospice Annual Report and Financial Statements for the year ended 31 March 2024

Chairperson’s Report 2023/24

Suite of Hospice reporting

Trustees’ Annual Report

Vision, Mission and Values

Vision

Mission

Values

Structure, Governance and Management

Organisational Structure

Recruitment and appointment of Trustees

Trustee Induction and Training

Remuneration Policy

Board Effectiveness

Related Parties

Hospice services include the following:

Achievements and Performance 2023/24

The Quality Agenda

Quality: Priorities for Improvement for 2024/25

Priority 2: Fostering a Pa#ent Safety Culture.

Priority 5 : Implementa#on of a comprehensive Audit Programme

Our Impact

Commitment to Our Supporters

Our Supporter Promise

We promise:

For more information

Long Term Sustainability

Principal Risks and Uncertainties

The Risk Register

Approach

Overview

Principal Financial Risks

Principal Risks and Uncertainties

Total Reserves

Reserves Policy

Cost of operating our Charitable Activity

Going Concern

Looking Ahead

WOKING HOSPICE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

1.1 Accounting convention

1.2 Going concern

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

1.3 Charitable funds

1.4 Incoming resources

Donations

Legacies

Donated facilities and services

Trading and fundraising

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Sales of donated goods

Government support

1.5 Resources expended

Support costs allocation

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

1.6 Tangible fixed assets

1.7 Fixed asset investments

1.8 Impairment of fixed assets

1.9 Stocks

1.10 Cash and cash equivalents

1.11 Financial instruments

WOKING HOSPICE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Basic financial assets

Impairment of financial assets

Basic financial liabilities