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2022-06-30-accounts

Company registration number: 04446416 Charity registration number: 1092545

ZOE'S PLACE TRUST

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 30 June 2022

Zoe's Place Trust

Contents

Reference and Administrative Details 1 to 2
Trustees' Report 3 to 14
Independent Auditors' Report 15 to 18
Consolidated Statement of Financial Activities 19
Comparative Consolidated Statement of Financial Activities 20
Consolidated Balance Sheet 21
Balance Sheet 22
Consolidated Statement of Cash Flows 23
Notes to the Financial Statements 24 to 46

Zoe's Place Trust

Reference and Administrative Details

Trustees

J J Scarisbrick Reverend P D McGuire J Stainsby Prof S Sinha (resigned 9 December 2021) C Greenall Prof W Tin A Schofield (appointed 6 October 2022)

Secretary J Stainsby Key Management Personnel N Borrill (Director of Partnerships) L Retford (Group Finance Director) M Livingston (Director of Care) G Harris (Head of Care) M Wright (Head of Care) B Hill (Head of Care) (appointed 23 August 2022) M Meaney (Head of Fundraising) R Jobson (Head of Fundraising) (resigned 30 September 2022) I Carr (Head of Fundraising) A Arkless (Director of Income Generation/Marketing) (appointed 5 September 2022)

Registered Office Upper Ground Floor 15 Dormer Place Leamington Spa Warwickshire CV32 5AA Company Registration Number 04446416 Charity Registration Number 1092545

1

Zoe's Place Trust

Reference and Administrative Details

Bankers

HSBC Bank plc Middlesbrough Albert Road 60 Albert Road Middlesbrough TS1 1RS

Barclays Bank plc Leamington Spa 150 The Parade Leamington Spa CV32 4AG

NatWest Coventry 1st Floor Rowan House Coventry West Midlands CV4 8LE

Investment Advisors

Azets Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS

Auditor

Azets Audit Services Chartered Accountants and Statutory Auditor Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS

2

Zoe's Place Trust

Trustees' Report

Chairmans report

At Zoe's Place we believe that 'every bud deserves the chance to bloom'. We believe that human life is precious however fragile or short it may be. That belief sustains all that we do.

National and global issues continue to have a major influence on our local work. The picture for the economy is worrying; the combination of high inflation and low growth, a likely recession, higher fuel/energy costs, resulting in people having less spendable income, pose a real problem for the charity sector. The political environment is challenging and of course the dreadful war in Ukraine adds both to a sense of sadness as well as causing rapidly rising prices.

Leaving finances aside for a moment there are two big issues we face now:

Firstly, the challenge around workforce will continue to worsen; the competition for talented staff from a diminishing pool and pressure for higher wages will mean that we will have to work on innovative ways of providing job satisfaction.

Secondly the restructuring of Commission Boards, pressure on NHS continues to dominate the news along with the burdens being placed on an already overworked primary care workforce. All of which means that we will need to work hard to ensure that palliative and end of life care for children occupies a strong place in planning and distribution of funds from the Government.

The hopefully better news of the creation of the Integrated Care System which gives the Hospice sector an opportunity to contribute to how care pathways can be commissioned and appropriately resourced.

At the beginning of our year, we projected a deficit, anticipating that our income would fall because of the continued effects of COVID, actually our fundraising income held up well, due to receipt of financial payments from the NHS/CCG, plus we received some unexpected, legacies, totalling approximately £735k, we are in fact recording a significant surplus. Whilst we are pleased to have received these funds, much of the Government financial support previously provided to Hospices, has now ceased.

The future is a challenge, as individuals spendable income falls, our Fundraising teams are looking at developing many more sustainable income streams which are not so dependent on individuals cash donations, to ensure our income continues to recover and improve going forward.

The COVID situation has highlighted one important factor that when all parties work together Hospices have a vital role to play in the structure of providing co-ordinated palliative care to children. We must ensure this remains at the forefront of any future development within the provision of palliative care for children. We continue to work closely with the ICB’s in our areas, NHSE and Government on the issues surrounding statutory funding to try and ensure we are able to provide the best care and support to our children and families.

We are extremely grateful to all the individual donors, Corporate Donors, Foundations, Trusts and event participants without whom our work would not be possible and to the generous people who left a legacy in their will, or have pledged to do so in the future.

3

Zoe's Place Trust

Trustees' Report

Structure, governance and management

Governing Document

Zoe's Place Trust, which was established in 2002, is a registered charity, number 1092545, and is incorporated as a company limited by guarantee (not having a share capital), company number 4446416. It is governed by its Articles of Association. The aim of the organisation is to open and maintain baby hospices for the public benefit and assistance of children aged from birth to five years, suffering from life-threatening or life-limiting conditions. The hospices provide palliative, respite and end-of-life care and support to all families who access our service. The hospices are known as Zoe's Places. The Charity is registered with the Care Quality Commission and as such is subject to regular inspections.

Governance/Management

The Board of Trustees is made up of people who have a particular skill or professional attribute which can benefit the Charity, to ensure the good governance of the charity and, to enable board meetings to be effective and make informed decisions. The enthusiasm and commitment of these people ensures that sound advice and information is brought to decisions affecting the future of the Charity. The names of the Trustees, who are also directors, are given on page 1.

The Board of Trustees administer the Charity and meet every 3 months, either face to face or electronically. There is a trading subsidiary Zoe's Place Trading Limited, which has a separate Board of Directors. The Trustees are responsible for decisions on capital projects, fundraising schemes, investment plans and the level of reserves.

The Trustees set the long term strategy for the organisation and the Senior Management Team (SMT) are responsible for the daily management of the Charity. There are 5 members of the SMT covering clinical services, fundraising and finance. This consists of Director of Income Generation/Marketing, Director of Care, Director of Partnerships, Group Finance Director and the Executive Trustee. The SMT meet on a monthly basis regarding clinical services, governance, audit, risk, and fundraising. In addition, the Executive Trustee meets each member of the SMT on a monthly basis to provide support and supervision. The SMT provide individual reports to each Trustee meeting and attend in person on a regular basis..

Recruitment of Trustees

As set out in the Articles of Association the Board of Trustees should consist of not less than 3 and no more than 9 members. Trustees will serve a minimum term of 3 years and with the unanimous consent of all the Trustees may put themselves forward for re-appointment. Nominations for the appointment of new Trustees can be made by any current Trustee and such nominations need the unanimous approval of the Board.. The Nominee, who usually would have some particular attribute which would benefit the Charity, would then be invited to attend one or more meetings as a guest before their acceptance as a new Trustee is confirmed.

All Trustees are subject to enhanced Disclosure and Barring Scheme checks and reference checks.

Trustee induction and training

New Trustees undergo an induction process to ensure they fully understand their legal obligations under charity and company law, the contents of our Articles of Association, decision-making process of the board, the strategic plan and recent performance of the charity. Briefing papers and familiarisation training is effected for all Trustees, as deemed necessary.

4

Zoe's Place Trust

Trustees' Report

Officers

The Officers are those listed in the Reference and Administration page (Key Management Personnel).

Objectives and Activities

The vision of Zoe's Place is to ensure that every child aged from birth to 5 years, living in our regions, with a life-limiting or life-threatening illness and their families will receive the specialist care and support they need.

Every child should be given the right to live their life to the maximum potential

Our Mission is:

Our core value are:

Beneficiaries

Compassionate care is at the heart of our philosophy and this will be provided to all who access our facilities irrespective of their colour, race, culture, denomination or condition. Care will be provided free of charge to all families irrespective of the family's social standing.

Every child will be treated as an individual and afforded dignity and respect at all times.

Our care will be provided in a way that ensures the child is at the centre of any planning and we will ensure their physical, emotional, social and spiritual needs are considered.

Facilities available at each Zoe's Place Hospice

Each Hospice can accommodate up to six babies at any one time. There is also Parents accommodation at each Hospice, should this be required.

There are soft play areas, sensory rooms, art and music therapy, physiotherapy, re-bound facilities and outdoor play areas available at each Hospice.

We believe in a holistic approach to care and look to support the whole family during their journey with Zoe's Place. There are sibling groups, play and stay, parents support groups, on-going counselling service, holistic therapy for parents, bereavement support groups and regular family fun days organised at each Hospice.

5

Zoe's Place Trust

Trustees' Report

Our counselling and family support teams offer a broad range of emotional, practical therapeutic and social activities. Support is provided to the whole family, the child, parents, siblings or extended members of the family such as grandparents. Support can be one-to-one, face to face, on line, or group work.

Our bereavement suites offer a private and comfortable space in which parents can begin to come to terms with the loss of their child. The child can rest in our specially designed chilled room until the funeral, allowing the parents that vital time for goodbye.

Achievements and Performance

Throughout the last twelve months the key aim has been to recruit new staff and reopen the hospices safely whilst continuing to live with the restrictions, impact and uncertainty imposed by the COVID-19 pandemic.

Each hospice has been open to accept children throughout the year however the number of days each week has varied across all three sites according to the staffing levels. Managing the impact of the pandemic and recovering from the cost efficiency work in July 2020 has been challenging across all three sites, although Coventry have felt the impact more severely.

To meet the required infection control standards each hospice has only opened for 3 children each day. This has now gradually increased.

The following table below illustrates what we have done to support our families throughout the year.

6

Zoe's Place Trust

Trustees' Report

Many of our children have very complex needs and require a high level of support often greater than one to one care and require specialist support.

The age range of children supported during this period can be identified as follows: 0-1 17%, 2-3 38% and 4-5 44%.

We continue to see an increase in the demand for our services, unfortunately due to a continuation of COVID restrictions we have not been able to provide as much planned respite as we would have wished this year.

We encourage feedback from our parents as a means of learning and improving our facilities. During the year 2021/22 we received no informal or formal complaints.

Feedback on our services

Below are some of the compliments received from our families in respect of the service we provide.

Other Achievements

Zoe's Places are regulated by the Care Quality Commission who have rated all our Hospices as Good. We are pleased to receive this positive rating for all three hospices which reflects the hard work, professionalism and caring attitude of all our staff.

Our social media facilities continue to develop to provide support to parents, who can share experiences, give feedback, ask questions, get support and not feel so isolated.

Fundraising remained a challenge through-out the year, some events were cancelled or had reduced participation because of COVID-19, however our Fundraising teams have risen to the challenge and organised several virtual events which have been extremely popular.

The Trustees offer their sincere thanks to the staff, volunteers and the supporters of all three Hospices for their dedicated help and support during these challenging conditions.

7

Zoe's Place Trust

Trustees' Report

Fundraising Activities

Principal funding sources and fundraising strategy

A large proportion of the Charity's income comes from fundraising income. More than half of this income is non-recurring and therefore new fundraising income needs to be generated each year. The main source of fundraising income is from Corporate partnerships, individual donations and Charitable Trusts, Legacies and events. Our fundraising strategy is focused on maximising donations from existing income streams, while developing new sources. To that end we hope to grow our donations from Corporate partners, Commercial sponsors, major donors and legacies to ensure we are not only able to meet our present commitments, but be here for future beneficiaries.

Financial Review

When we prepared our budgets for the year 2021/22 we felt we were in “unchartered territory” we were not certain how or even if individual fundraising activities would be supported. We anticipated a deficit and made contingency plans to cover this. We are pleased, thanks to the immense support of our donors who have "really dug deep" and gone to enormous lengths to support the charity in very imaginative ways, our income from fundraising was overall better than originally anticipated.

Our income from donations and events totalled £1,609,290 an increase of 20% on the previous year.

Over the last 12 months we have worked with all the ICB’s in our areas and as a result obtained a further £132,979 one off grants from the additional fund set up to support Hospices.

Overall total income is much better than anticipated to such an extent we are recording a surplus due principally to the receipt of several unexpected legacies, totalling £735,339, which compensated for the reduction in other areas.

8

Zoe's Place Trust

Trustees' Report

The NHSE awarded funding to allow the Hospice to make available bed capacity and community support from December 2021 to March 2022 to provide support to people with complex needs in the context of the COVID-19 situation.

We also,received the Grant from NHS England totalling £618,294, an increase of £18,009 on the prior year.

We continue to build our relationship with the ICB’s in our areas who contributed £372,289 towards planned respite care for our children.

Whilst these one off payments were much appreciated the Charity still relies heavily on the continued support from Corporates and members of the public to enable us to continue to provide the support and respite facilities our families so desperately need.

Overall Summary

The financial position for the year shows net incoming resources of £756,592 (2021 - £1,144,265). Total funds amount to £4,606,254. Of the total funds as at the year end £162,236 were restricted funds, £500,000 designated funds and £3,944,018 being unrestricted funds of the group. Of the unrestricted funds £1,616,729 are Fixed Assets and £2,327,289 are free reserves of the group

The Trustees consider the financial position of the group to be satisfactory, given the unprecedented circumstances we now find ourselves in, when read with the Charity Groups' reserve policy (which is outlined later in this report).

The financial statements, which have been prepared in accordance with the Statement of Recommended Practice, conform to current statutory requirements and comply with the charity's governing document.

Reserves and Going Concern

The Trustees have reviewed the reliability of income streams, our commitment to future expenditure and the risks we face as a charity. We are dependent on some volatile forms of fundraising income and much of our income is only committed for one year. However, we do have some forms of more reliable income and our income streams are becoming more diverse as we seek to reduce our risk.

In common with many organisations we expect our activities and finances going forward for the next couple of years to be significantly impacted by the COVID-19 pandemic and the current economic climate.

The Trustees have examined the requirements of the charitable company to hold free reserves - those reserves not invested in tangible fixed assets, restricted or designated for particular purposes. This exercise considered both the normal requirements for working capital and the loss of income of a hypothetical but reasonable reduction in the scale of operations. Resulting from this, the Trustees consider it would be appropriate to hold the equivalent of nine months expenditure, which would equate to holding approximately £3,300,000 in free reserves.

Due to the current economic climate the Trustees have reviewed our reserves policy and feel it would be prudent to "ring-fence" part of this surplus to offset any possible deficit in the coming year - which we believe will be immensely challenging.

The Trustees have therefore decided to set aside from this surplus £400,000 to cover any possible shortfall in the coming year.

9

Zoe's Place Trust

Trustees' Report

During our re-structure we have improved our overall package to staff particularly with regard to terms and conditions to ensure we retain our existing staff and to assist with the recruitment of new staff. We are presently looking to recruit additional clinical staff, however this is proving a challenge due to the nationwide shortage of childrens nurses, to enable us, to get back to full opening of 24/7 with 6 children at each hospice. The Trustees feel £100,000 should be set aside, from the surplus, to cover recruitment, training of new staff in the coming year.

The calculation of free reserves is based on the definition included in the charity statement of recommended practice (SORP), which provides recommendations for accounting and reporting for charities; it excludes fixed assets together with long term financing liabilities. At the year end the charity had free reserves amounting to £2,327,289.

Budgets have been prepared taking into account current economic climate and the potential affect on income, the Trustees are confident that the Charity will be able to sustain an improved service to our families into the future. It remains our firm objective to diversify, develop and increase income in coming years to ensure we are able to support all children and families who seek our help.

Pay policy for Key Management Personnel and other staff

We have identified Key Management Personnel in the Reference and Administration section.

Risk Management

The Trustees have a Risk Management Strategy in place and together with the Senior Management Team regularly monitors risks to which the Charity is exposed and ensure that appropriate systems and controls are in place to mitigate such risks. As part of this work we maintain a risk register, which is reviewed and discussed quarterly by the Board of Trustees and action taken where appropriate to mitigate the risk.

10

Zoe's Place Trust

Trustees' Report

Financial

The principal risk is that in an increasingly competitive environment, we are not able to raise sufficient funds to allow us to continue to provide care and support to our children and families. A Fundraising plan is in place and progress is reviewed against this quarterly.

Zoe's Place will continue to diversify its areas of sustainable income streams to ensure that it can continue to improve the level of care at all 3 hospices.

The investment plan is reviewed regularly and as a matter of course annually.

Operational

Serious damage to our premises, or the heating system would cause major operational problems. The Trustees conclude that our premises are large enough to cope with a disruption that was not total. If the premises became totally unusable, arrangements are in place to evacuate the children to home or to the local hospital. Insurance is in place to cover any disruption to the on-going business of the charity. A business continuity plan is also in place to address these issues.

Clinical staffing levels - It has been widely publicised that there is a national shortage of Nursing staff, particularly those qualified in the care of children. This is having an impact on the services Zoe's Place are able to offer. There are several operational measures in place to mitigate this risk, for example ensuring pay and benefits are in line with other employers in this sector and training and development of existing staff.

Loss of IT infrastructure would cause major problems within the organisation. We have invested significantly in technology in recent years which has enabled us to work remotely, provide support to the families, stay in touch with donors.

Cyber attack on our data would be a major problem. We have therefore increased significantly our Security “fire-walls”, IT and training awareness to staff.

Compliance with Law and regulations

Principle risks relate to compliance to Charity Commission regulations, employment legislation and

G.D.P.R. We have addressed this by having a revised set of Policies and procedures and a firm of HR consultants provide guidance on employment matters to ensure we are fully compliant. A Independent Risk Management Consultant also provides regular on-going advice and support.

External Risks

The most significant risks relate to not achieving our strategic priorities and events that might have a detrimental impact on our reputation with the public. These are managed by regular review of activity against our business plan.

The war in Ukraine and it’s continued impact on our economy was something we were unable to predict, but continues to be a risk to the Charity's income which, in turn, affects the level of service we are able to provide. We are working to ensure as wide a spectrum of income streams are used to enable the Charity to survive these challenging conditions.

Strategic

We will continue to develop our facilities to ensure we are able to provide the best help and support to as many families as possible in the Coventry, Liverpool and Middlesbrough areas.

11

Zoe's Place Trust

Trustees' Report

Related Parties

Zoe's Place Trading Limited is a separate limited company. It is a wholly owned subsidiary of Zoe's Place Trust and is consolidated as part of these accounts. Zoe's Place Trading limited sells merchandise, receives licensed royalties and registration fees from challenge events.

Plans for Future Periods

Public Benefit Statement

The Trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. The Trustees regard the activities of the charity to fall within the definition of a charitable purpose relating to "the relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage."

How the activities of Zoe's Place deliver public benefit

The main activities of the Charity and who it exists to help are described below. All of its charitable activities focus on the relief of illness and suffering and are undertaken to further its charitable purpose for the public benefit.

Zoe's Place provides palliative, respite and end of life care to babies and infants aged from birth-5 suffering from life-limiting and/or life-threatening conditions. These children will be cared for in a safe home from home environment known as Zoe's Place.

Strategic Report

The Trustees Report incorporates the Strategic Report in accordance with the Charity Commission guidance. The Trustees when approving the Trustees Report are also signing to approve the Strategic Report.

Investment Powers and Restrictions

The Charity funds are controlled by the directors, who also act as trustees, who invest with a view to safely optimising annual investment income while maintaining capital growth in line with market trends.

12

Zoe's Place Trust

Trustees' Report

The trustees can invest any sums or investments received by them in investments in which they are by law authorised to invest money (including trading subsidiaries), with power from time to time to change for others of a like nature.

Investment policy and performance

The Trustees receive on-going investment advice from an independent firm of Financial Advisors.

The performance of the Trust's investments are regularly reviewed, by the Adviser, against a benchmark of similar investments. The investments are held in line with our investment policy which sets out guidelines for risk and asset mix also ensuring there is an appropriate ethical balance. The investments were converted into cash in January 2022 and subsequently £500,000 was reinvested into Collective Investments in June 2022.

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Zoe's Place Trust for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and 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.

13

Zoe's Place Trust

Trustees' Report

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Reappointment of auditor

Azets Audit Services Limited, trading as Azets Audit Services, were appointed auditor to the company following their acquisition of the trade of Tait Walker LLP, trading as MHA Tait Walker, on 1 May 2022.

In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Azets Audit Services as auditors of the charity is to be proposed at the forthcoming Annual General Meeting.

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

......................................... J J Scarisbrick Trustee

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Zoe's Place Trust

Independent Auditor's Report to the Members of Zoe's Place Trust

Opinion

We have audited the financial statements of Zoe's Place Trust (the 'charitable parent company') and its subsidiary (the 'group') for the year ended 30 June 2022, which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (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 responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's ability to continue as a going concern for a period of at least twelve months from when the financial statements were 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 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, except to the extent otherwise explicitly stated in our report, 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.

15

Zoe's Place Trust

Independent Auditor's Report to the Members of Zoe's Place Trust

We have nothing to report in this regard.

Opinion 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 our knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Financial Statements and the Trustees' Report.

We have nothing to report in respect of the following matters where 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 on page 13), the trustees 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 charity or to cease operations, or have no realistic alternative but to do so.

16

Zoe's Place Trust

Independent Auditor's Report to the Members of Zoe's Place Trust

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 is detailed below:

Because of the field in which the client operates, we identified the following areas as those most likely to have a material impact on the financial statements: Health and Safety; employment law (including the Working Time Directive); Care Quality Commission and compliance with the UK Companies Act and Charities Act.

Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Zoe's Place Trust

Independent Auditor's Report to the Members of Zoe's Place Trust

Use of our report

This report is made solely to the charitable parent company's trustees, 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 group's trustees 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 parent company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... Simon Brown BA ACA DChA (Senior Statutory Auditor) For and on behalf of Azets Audit Services Chartered Accountants Statutory Auditor Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS

Date:.............................

Azets Audit Services is a trading name of Azets Audit Services Limited.

18

Zoe's Place Trust

Consolidated Statement of Financial Activities for the Year Ended 30 June 2022 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Other income
7
Total Income
Expenditure on:
Raising funds
8
Charitable activities
9
Total Expenditure
Gains/losses on investment
assets
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
24		 Unrestricted
£
2,270,566
372,289
445,611
3,692
4,174
3,096,332
(904,009)
(1,428,127)
(2,332,136)
(2,585)
761,611
26,797
788,408
3,655,610
4,444,018		 Restricted
£
971,184
25,422
-
-
-
996,606
-
(1,001,625)
(1,001,625)
-
(5,019)
(26,797)
(31,816)
194,052
162,236		 Total
2022
£
3,241,750
397,711
445,611
3,692
4,174
4,092,938
(904,009)
(2,429,752)
(3,333,761)
(2,585)
756,592
-
756,592
3,849,662
4,606,254		 Total
2021
£
3,270,214
373,151
207,945
3,472
6,725
3,861,507
(709,169)
(2,067,399)
(2,776,568)
59,326
1,144,265
-
1,144,265
2,705,397
3,849,662

All of the group's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 24.

19

Zoe's Place Trust

Comparative Consolidated Statement of Financial Activities for the Year Ended 30 June 2021 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Other income
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Gains/losses on investment assets
Net income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
24		 Unrestricted
£
2,422,295
342,125
207,945
3,472
6,725
2,982,562
(708,427)
(1,216,010)
(1,924,437)
59,326
1,117,451
13,747
1,131,198
2,524,412
3,655,610		 Restricted
£
847,919
31,026
-
-
-
878,945
(742)
(851,389)
(852,131)
-
26,814
(13,747)
13,067
180,985
194,052		 Total
2021
£
3,270,214
373,151
207,945
3,472
6,725
3,861,507
(709,169)
(2,067,399)
(2,776,568)
59,326
1,144,265
-
1,144,265
2,705,397
3,849,662

20

Zoe's Place Trust

(Registration number: 04446416) Consolidated Balance Sheet as at 30 June 2022

Note
Fixed assets
Tangible assets
16
Investments
17
Current assets
Stocks
18
Debtors
19
Cash at bank and in hand
20
Creditors: Amounts falling due within one year
21
Net current assets
Net assets
Funds of the group:
Restricted
Unrestricted income funds
Designated funds
General funds
Total unrestricted funds
Total funds
24		 2022
£
1,119,730
496,999
1,616,729
2,298
729,979
2,616,347
3,348,624
(359,099)
2,989,525
4,606,254
162,236
500,000
3,944,018
4,444,018
4,606,254		 2021
£
1,105,872
296,657
1,402,529
1,668
421,718
2,238,586
2,661,972
(214,839)
2,447,133
3,849,662
194,052
500,000
3,155,610
3,655,610
3,849,662

The financial statements on pages 19 to 46 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

......................................... J J Scarisbrick Trustee

21

Zoe's Place Trust

(Registration number: 04446416) Balance Sheet as at 30 June 2022

Note
Fixed assets
Tangible assets
16
Investments
17
Current assets
Debtors
19
Cash at bank and in hand
20
Creditors: Amounts falling due within one year
21
Net current assets
Net assets
Funds of the charity:
Restricted
Unrestricted income funds
Designated funds
Unrestricted funds
Total unrestricted funds
Total funds
24		 2022
£
1,119,730
497,999
1,617,729
729,563
2,563,518
3,293,081
(356,846)
2,936,235
4,553,964
162,236
500,000
3,891,729
4,391,729
4,553,965		 2021
£
1,105,872
297,657
1,403,529
410,198
2,191,847
2,602,045
(210,544)
2,391,501
3,795,030
194,052
500,000
3,100,978
3,600,978
3,795,030

The charity made a surplus after tax for the financial year of £758,937 (2021 - £1,124,353).

The financial statements on pages 19 to 46 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

......................................... J J Scarisbrick Trustee

22

Zoe's Place Trust

Consolidated Statement of Cash Flows for the Year Ended 30 June 2022

Note
Cash flows from operating activities
Net cash income
Adjustments to cash flows from non-cash items
Depreciation
8
Investment income
6
Loss/(profit) on disposal of tangible fixed assets
Revaluation of investments
Working capital adjustments
(Increase)/decrease in stocks
18
Increase in debtors
19
Increase/(decrease) in creditors
21
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
6
Purchase of tangible fixed assets
16
Sale of tangible fixed assets
Purchase of investments
Sale of investments
Net cash flows from investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 July
Cash and cash equivalents at 30 June		 2022
£
756,592
76,140
(3,692)
1,685
2,585
833,310
(630)
(308,261)
144,260
668,679
3,692
(91,683)
-
(500,000)
297,073
(290,918)
377,761
2,238,586
2,616,347		 2021
£
1,144,265
129,298
(3,472)
(2,835)
(59,326)
1,207,930
159
(41,021)
(753,004)
414,064
3,472
(16,354)
4,000
-
-
(8,882)
405,182
1,833,404
2,238,586

All of the cash flows are derived from continuing operations during the above two periods.

23

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

The address of its registered office is: Upper Ground Floor, 15 Dormer Place, Leamington Spa, Warwickshire, CV32 5AA

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Zoe's Place Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The financial statements are prepared in sterling which is the functional currency of the entity.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 30 June 2022.

No statement of financial activities is presented for the charity as permitted by section 408 of the Companies Act 2006. The charity made a surplus after tax for the financial year of £758,937 (2021 - £1,124,353).

24

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

Going concern

The charity’s forecasts and projections for the next twelve months show that the charity should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance. The charity and its trading subsidiary have strong positive cash balances and is forecasting for this to continue to be the case. The trustees have stress tested their forecasts, taking into account various scenarios, and remain confident that the uncertainties do not cast significant doubt on the company’s ability to continue as a going concern.

Estimation uncertainty and judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported.

There are considered to be no significant judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies which effect the amounts recognised in the financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.

Grants receivable

Grants are recognised when the group has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

In accordance with the SORP FRS102 (para 5.10) income from government grants cannot be accounted for under the ‘accruals method'. Therefore government grants are recognised as income when they are received, subject to performance conditions being met. Grant income from the NHS is recognised on an April to March basis with grant income accrued and deferred in line with this cycle.

25

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

Gifts in kind

Gifts in kind are recognised in different ways dependent on how they are used by the charity:

(i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised.

(ii) Those donated for onward transmission to beneficiaries are included in the Statement of Financial Activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acquire them.

(iii) Those donated for use by the charity itself are included when receivable. They are valued at the amount the charity would have had to pay to acquire them. In respect of those which are fixed assets, a fixed asset addition and income are recognised, otherwise income and expenditure is recognised.

Other trading activities

Income from commercial trading activities is recognised as earned (as the related goods and services are provided) and as rental and service charges fall due.

Investment income

Interest income is recognised on a receivable basis, when the amount can be measured reliably - this is normally upon notification of the interest paid or payable by the bank.

Charitable activities

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions is recognised as earned (as the related goods or services are provided). Grant income included in this category provides funding to support client service activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income is deferred when related grants are received and the performance conditions relating to its entitlement are not met.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Other expenditure

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

26

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

Support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's (and the group's) activities. These costs, which have not been directly apportioned, have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in the support costs note.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grant will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the assets's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the assets's carrying amount.

Government grants included within other operating income includes the UK Government assistance provided through Coronavirus Job Retention Scheme during the Covid-19 pandemic.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Freehold Property Straight line over 50 years on
buildings
Leasehold Property Improvements Straight line over 8 years
Motor Vehicles 25% reducing balance
Furniture and Equipment 20% straight line

Impairment of fixed assets

The carrying values of tangible fixed assets are reviewed for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

27

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Stock

Stock is valued at the lower of cost or net realisable value, after making allowance for any obsolete or slow moving items. Donated items of stock are recognised at fair value which is the amount the charitable company would have been willing to pay for the items on the open market.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the group.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The group supports personal pension plans taken out by employees. Contributions are charged to the income and expenditure account as they become payable.

28

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

Financial instruments

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

3 Income from donations and legacies

Donations and legacies;
Donations
Legacies
Gift aid reclaimed
Grants, including capital grants;
NHS England Grant
Grants and Trust income
Hospice UK - NHSE		 Unrestricted
funds
General
£
1,243,106
735,339
80,480
-
211,641
-
2,270,566		 Restricted
funds
£
6,463
-
-
618,294
213,448
132,979
971,184		 Total
2022
£
1,249,569
735,339
80,480
618,294
425,089
132,979
3,241,750

Over the last 12 months we have worked with all the ICB’s in our areas and as a result obtained a further £132,979 one off grants from the additional fund set up to support Hospices.

Donations and legacies;
Donations
Legacies
Gift aid reclaimed
Grants, including capital grants;
NHS England Grant
Grants and Trust income
Job Retention Scheme
Hospice UK - NHSE		 Unrestricted
funds
General
£
1,179,198
566,079
97,031
-
299,726
280,261
-
2,422,295		 Restricted
funds
£
37,198
-
-
600,285
96,586
-
113,850
847,919		 Total
2021
£
1,216,396
566,079
97,031
600,285
396,312
280,261
113,850
3,270,214

29

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

Hospice UK - NHSE are: The NHSE awarded funding to allow the hospice to make available bed capacity and community support from April 2020 to July 2020 to provide support to people with complex needs in the context of the COVID-19 situation and to provide bed capacity and community support from December 2021 to March 2022 for the same purpose.

4 Income from charitable activities

Respite Care
GP Cover
Respite Care
GP Cover		 Unrestricted
funds
General
£
372,289
-
372,289
Unrestricted
funds
General
£
342,125
-
342,125		 Restricted
funds
£
-
25,422
25,422
Restricted
funds
£
-
31,026
31,026		 Total
2022
£
372,289
25,422
397,711
Total
2021
£
342,125
31,026
373,151

5 Income from other trading activities

Appeals
Clothes Aid
SNAK appeal
Fundraising
Merchandise
Lottery
Clothes Recycling		 Unrestricted
funds
General
£
15,456
1,139
359,721
2,211
46,725
20,359
445,611		 Total
2022
£
15,456
1,139
359,721
2,211
46,725
20,359
445,611

30

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

Appeals
Clothes Aid
SNAK appeal
Fundraising
Merchandise
Lottery
Clothes Recycling
6
Investment income
Other income from fixed asset investments
Interest receivable and similar income;
Interest receivable on bank deposits
Other income from fixed asset investments
7
Other income
Work Placements
Other income
Work Placements
Other income		 Unrestricted
funds
General
£
42,589
502
113,869
532
31,501
18,952
207,945
Unrestricted
funds
General
£
3,692
3,692
Unrestricted
funds
General
£
5
3,467
3,472
Unrestricted
funds
General
£
3,818
356
4,174
Unrestricted
funds
General
£
3,114
3,611
6,725		 Total
2021
£
42,589
502
113,869
532
31,501
18,952
207,945
Total
2022
£
3,692
3,692
Total
2021
£
5
3,467
3,472
Total
2022
£
3,818
356
4,174
Total
2021
£
3,114
3,611
6,725

31

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

8 Expenditure on raising funds

Employment costs
Merchandise
Fundraising cost of sales
Advertising and PR
Lease of equipment
Premises costs
Repairs and maintenance
Travel and subsistence
Office costs
Professional fees
Training
Depreciation
(Profit)/Loss
on
disposal
of
tangible
fixed assets		 Unrestricted
funds
General
£
602,627
1,295
179,568
-
15,250
14,760
27,820
6,622
12,353
35,547
1,898
6,185
84
904,009		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2022
£
602,627
1,295
179,568
-
15,250
14,760
27,820
6,622
12,353
35,547
1,898
6,185
84
904,009		 Total
2021
£
485,763
63
106,792
11,401
7,618
6,446
29,468
6,278
11,405
34,546
-
9,531
(142)
709,169

Total expenditure on raising funds in 2021 of £709,169 comprised unrestricted expenditue of £708,427 and restricted expenditure of £742.

32

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

9 Expenditure on charitable activities

Note
Hospice Care
Allocated support costs
10
Governance costs
10
Note
Hospice Care
Allocated support costs
10
Governance costs
10
Hospice Care
Governance costs
Hospice Care
Governance costs		 Unrestricted
funds
General
£
964,440
415,903
47,784
1,428,127
Unrestricted
funds
General
£
1,011,392
159,377
45,241
1,216,010
Activity
undertaken
directly
£
1,966,065
-
1,966,065
Activity
undertaken
directly
£
1,748,931
-
1,748,931		 Restricted
funds
£
1,001,625
-
-
1,001,625
Restricted
funds
£
737,539
113,850
-
851,389
Activity
support
costs
£
415,903
47,784
463,687
Activity
support
costs
£
273,227
45,241
318,468		 Total
2022
£
1,966,065
415,903
47,784
2,429,752
Total
2021
£
1,748,931
273,227
45,241
2,067,399
2022
£
2,381,968
47,784
2,429,752
2021
£
2,022,158
45,241
2,067,399

33

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

10 Analysis of governance and support costs
Support
costs
£
Employment Costs
255,139
HR
-
Legal fees
-
Audit fees
-
Care Quality
-
Professional fees
5,829
Travel and subsistence
13,110
Depreciation
6,810
Premises
13,868
Repairs and maintenance
112,037
Other office costs
1,690
Staff training
4,718
Hire of equipment
2,542
(Profit)/loss on disposal of tangible
fixed assets
160
415,903		 Governance
costs
£
5,857
4,800
5,755
11,985
3,861
13,341
2,185
-
-
-
-
-
-
-
47,784		 Total
2022
£
260,996
4,800
5,755
11,985
3,861
19,170
15,295
6,810
13,868
112,037
1,690
4,718
2,542
160
463,687		 Total
2021
£
191,616
3,840
11,430
9,700
1,860
12,702
5,765
11,731
5,801
58,637
1,969
3,686
-
(269)
318,468

11 Net incoming/outgoing resources

Net incoming resources for the year include:

Operating leases - other assets
Audit fees
Other non-audit services
Loss/(profit) on disposal of tangible fixed assets
Depreciation of fixed assets		 2022
£
25,418
9,700
2,550
1,685
76,140		 2021
£
12,696
9,700
2,550
(2,835)
129,298

12 Trustees remuneration and expenses

During the year the group made the following transactions with trustees:

No trustees, nor any persons connected with them, have received any remuneration from the group during the year.

No trustees have received any other benefits from the charity during the year.

34

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

13 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2022
£
2,075,243
184,830
112,604
2,372,677		 2021
£
1,835,233
152,234
81,721
2,069,188

The monthly average number of persons (including senior management team) employed by the group during the year was as follows:

Trustees
Management
Administration
Nurses
Domestic		 2022
No
6
10
18
52
4
90		 2021
No
6
9
23
55
5
98

The number of employees whose emoluments fell within the following bands was:

£60,001 - £70,000 2022
No
1		 2021
No
1

The total employee benefits of the key management personnel of the group were £520,995 (2021 - £433,344).

14 Auditors' remuneration

14 Auditors' remuneration
Audit of the financial statements
Other fees to auditors
All other non-audit services		 2022
£
9,700
2,550		 2021
£
9,700
2,550

35

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

15 Taxation

The group is a registered charity and is therefore potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

16 Tangible fixed assets

Group and Charity

Cost
At 1 July 2021
Additions
Disposals
At 30 June 2022
Depreciation
At 1 July 2021
Charge for the
year
Eliminated on
disposals
At 30 June 2022
Net book value
At 30 June 2022
At 30 June 2021		 Land and
buildings
£
1,111,933
-
-
1,111,933
206,081
20,608
-
226,689
885,244
905,852		 Furniture and
equipment
£
872,572
91,683
(4,580)
959,675
710,557
46,031
(2,895)
753,693
205,982
162,015		 Motor
vehicles
£
148,658
-
-
148,658
110,653
9,501
-
120,154
28,504
38,005		 Leasehold
property
improvements
£
861,517
-
-
861,517
861,517
-
-
861,517
-
-		 Total
£
2,994,680
91,683
(4,580)
3,081,783
1,888,808
76,140
(2,895)
1,962,053
1,119,730
1,105,872

Included within the net book value of land and buildings above is £885,244 (2021 - £905,852) in respect of freehold land and buildings and £Nil (2021 - £Nil) in respect of leaseholds.

36

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

17 Fixed asset investments

Group

Other investments
Other investments
Cost or Valuation
At 1 July 2021
Additions
Disposals
Revaluation
At 30 June 2022
Net book value
At 30 June 2022
At 30 June 2021
The following shares included within other investments exceeded 5%
• Baillie Gifford Managed Acc - £59,400
• L&G Multi Index 6 Acc - £59,400
• Liontrust Sustainable Future - £59,400
• Royal London GMAP Adevnturous Acc - £59,400
• Vangaurd Life Strategy 80% Equity Acc- £59,399
Charity
Shares in group undertakings and participating interests
Other investments		 2022
£
2021
£
496,999
296,657
Listed
investments
and cash
£
Total
£
296,657
296,657
500,000
500,000
(297,073)
(297,073)
(2,585)
(2,585)
496,999
496,999
496,999
496,999
296,657
296,657
the total value of investments:
2022
£
2021
£
1,000
1,000
496,999
296,657
497,999
297,657		 2021
£
296,657
of
496,999
496,999
296,657
the total value
2022
£
1,000
496,999
497,999
297,657

37

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

Shares in group undertakings and participating interests

Cost
At 1 July 2021
At 30 June 2022
Net book value
At 30 June 2022
At 30 June 2021
Other investments
Cost or Valuation
At 1 July 2021
Additions
Disposals
Revaluation
At 30 June 2022
Net book value
At 30 June 2022
At 30 June 2021		 Subsidiary
undertakings
£
1,000
1,000
1,000
1,000
Listed
investments
and cash
£
296,657
500,000
(297,073)
(2,585)
496,999
496,999
296,657		 Total
£
1,000
1,000
1,000
1,000
Total
£
296,657
500,000
(297,073)
(2,585)
496,999
496,999
296,657

38

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

Details of undertakings

Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:

Country of Proportion of voting Proportion of voting Principal
Undertaking incorporation Holding rights and shares held activity
2022 2021
Subsidiary undertakings
The
Zoe's Place Trading
Limited		 England and
Wales		 Ordinary 100% 100% operation of
business
support
activities

The profit for the financial period of Zoe's Place Trading Limited was £52,737 (2021 - £55,081) and the aggregate amount of capital and reserves at the end of the period was £53,288 (2021 - £55,632).

18 Stock

18 Stock
Finished goods
19 Debtors
Trade debtors
Due from group undertakings
Prepayments and accrued
income
VAT recoverable		 Group
2022
£
2021
£
2,298
1,668
Group
2022
£
2021
£
86,559
99,506
-
-
618,269
302,956
25,151
19,256
729,979
421,718		 Charity
2022
£
2021
£
-
-
Charity
2022
£
2021
£
82,659
84,222
-
2,225
617,655
301,211
29,249
22,540
729,563
410,198
410,198

39

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

20 Cash and cash equivalents

20 Cash and cash equivalents
Cash on hand
Cash at bank		 Group
2022
£
2021
£
1,698
1,726
2,614,649
2,236,860
2,616,347
2,238,586		 Charity
2022
£
2021
£
1,698
1,726
2,561,820
2,190,121
2,563,518
2,191,847
2,191,847

21 Creditors: amounts falling due within one year

21 Creditors: amounts falling due within one year
Group
2022
£
2021
£
Trade creditors
122,230
85,175
Due to group undertakings
-
-
Other taxation and social
security
54,243
-
Other creditors
47,541
37,936
Accruals and deferred income
135,085
91,728
359,099
214,839
Deferred income
Group and Charity
Deferred income at 1 July 2021
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end		 Charity
2022
£
2021
£
122,230
83,430
545
-
54,243
-
47,541
37,936
132,287
89,178
356,846
210,544
2022
£
2021
£
61,400
625,840
98,575
61,400
(61,400)
(625,840)
98,575
61,400
210,544
2021
£
625,840
61,400
(625,840)
61,400

Deferred income comprises event income and NHS respite care grant income.

40

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

22 Obligations under leases and hire purchase contracts

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Land and buildings
Within one year
Between one and five years
Other
Within one year
Between one and five years		 Group
2022
£
2021
£
58,796
63,500
249,301
308,097
308,097
371,597
16,452
20,934
12,143
27,085
28,595
48,019		 Charity
2022
£
2021
£
58,796
63,500
249,301
308,097
308,097
371,597
16,452
20,934
12,143
27,085
28,595
48,019		 Charity
2022
£
2021
£
58,796
63,500
249,301
308,097
308,097
371,597
16,452
20,934
12,143
27,085
28,595
48,019
371,597
20,934
27,085
48,019

23 Pension and other schemes

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £112,604 (2021 - £81,721).

Contributions totalling £17,329 (2021 - £12,631) were payable to the scheme at the end of the year and are included in creditors.

41

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

24 Funds

Group
Unrestricted funds
General
General fund
Designated
Fall in income due to economic climate
Staff Recruitment & Training
Total unrestricted funds
Restricted funds
Hospice Nurses - Coventry
Minibus - Coventry
Salaries - Coventry
Hospice UK - Coventry
Ancillary Funds - Coventry
Therapy Fund - Coventry
Hospice Equipment - Coventry
Building Repairs - Liverpool
Hospice UK - Liverpool
Hospice Nurses - Liverpool		 Balance at 1
July 2021
£
3,155,610
300,000
200,000
500,000
3,655,610
-
5,425
-
-
4,743
8,888
25,108
3,708
-
-		 Incoming
resources
£
3,096,332
-
-
-
3,096,332
143,898
-
54,467
45,236
-
13,960
21,653
-
15,350
237,198		 Resources
expended
£
(2,332,136)
-
-
-
(2,332,136)
(143,898)
(1,356)
(54,467)
(45,236)
(343)
(17,712)
(643)
-
(15,350)
(237,198)		 Transfers
£
26,797
100,000
(100,000)
-
26,797
-
-
-
-
-
-
(25,421)
-
-
-		 Other
recognised
gains/(losses)
£
(2,585)
-
-
-
(2,585)
-
-
-
-
-
-
-
-
-
-		 Balance at 30
June 2022
£
3,944,018
400,000
100,000
500,000
4,444,018
-
4,069
-
-
4,400
5,136
20,697
3,708
-
-

42

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

GP Cover - Liverpool
End of Life Room - Liverpool
Hospice Equipment - Liverpool
Therapy Fund - Liverpool
Ancillary Funds - Liverpool
Salaries - Liverpool
Salaries - Middlesbrough
Laundry & Kitchen Refurb - Middlesbrough
Hospice UK - Middlesbrough
Hospice Equipment - Middlesbrough
Technology Fund - Middlesbrough
Therapy Fund - Middlesbrough
Ancillary Funds - Middlesbrough
Hospice Nurses - Middlesbrough
Refurb Appeal - Middlesbrough
Total restricted funds
Total funds		 Balance at 1
July 2021
£
11,575
17,736
13,129
17,055
1,178
3,675
28,221
7,500
-
12,991
1,827
20,687
9,606
-
1,000
194,052
3,849,662		 Incoming
resources
£
25,422
-
5,877
31,000
310
45,609
45,885
-
72,393
-
-
1,000
150
237,198
-
996,606
4,092,938		 Resources
expended
£
(35,208)
(351)
(2,631)
(7,170)
(848)
(45,814)
(74,106)
-
(72,393)
(3,959)
(416)
(5,215)
(113)
(237,198)
-
(1,001,625)
(3,333,761)		 Transfers
£
2,708
(1,835)
-
-
-
-
-
-
-
195
(1,000)
(1,444)
-
-
-
(26,797)
-		 Other
recognised
gains/(losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(2,585)		 Balance at 30
June 2022
£
4,497
15,550
16,375
40,885
640
3,470
-
7,500
-
9,227
411
15,028
9,643
-
1,000
162,236
4,606,254

43

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

The specific purposes for which the funds are to be applied are as follows:

Fall in income due to economic climate -The trustees have designated £400,000 from general reserves for the anticipated fall in income due to the current economic climate.

Staff Recruitment & Training - The trustees have designated £100,000 from general reserves to cover recruitment and training of new staff in the coming year.

Hospice Nurses - NHS Grant to pay the nurses salaries.

Hospice UK - The NHSE awarded funding to allow the hospice to make available bed capacity and community support from April 2020 to July 2020 to provide support to people with complex needs in the context of the COVID-19 situation and to provide bed capacity and community support from November 2020 to March 2021 for the same purpose.

Minibus Coventry - This fund was established following the donations received from the Lord Taverners towards a Mini Bus. As in accordance with offer the vehicle is a restricted asset from 2014 for 5 years, so the annual deprecation will be off set against this fund.

Therapy Fund - Coventry - Grants received for the provision of Hydrotherapy, Music Therapy, Animal Therapy, Rebound Therapy and swimming for the children.

Hospice Equipment - Coventry - This fund was established from donations and grants given for the specific purpose of providing hospice equipment for the Coventry hospice. For capital items purchased the fund is released to unrestricted funds as the restrictions have then been met, other expenditure is released director to the SOFA.

Ancillary Funds - Coventry - Donations and grants received for children and their siblings for outings, events and special occasions.

Salaries - Coventry - Grants received to fund clinical staff salaries.

GP Cover- Liverpool - Clinical Commissioning Group funding to provide GP services for children at the hospice.

End of Life Room - Liverpool - Donations received to fund a new room for children’s’ care at the end of their life.

Therapy Fund - Liverpool - Grants received for the provision of Art Therapy and Hydrotherapy for the children.

Hospice Equipment - Liverpool - This fund is for donations and grants which have been received for the purpose of providing equipment for use in the hospice. For capital items purchased the fund is released to unrestricted funds as the restrictions have then been met, other expenditure is released direct to the SOFA.

Salaries - Liverpool - Grants received to fund clinical staff salaries.

Ancillary Funds - Liverpool - Donations and grants received for Children's outings, special occasions and events.

Building Repairs - Liverpool - Funds received for essential hospice building repairs.

44

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

Refurb Appeal - Middlesbrough - Fund set up for donations for future refurbishment and project works in hospice.

Therapy Fund - Middlesbrough - Grants received for the provision of physiotherapy, hydrotherapy and Bereavement services.

Technology Fund - Middlesbrough - Funds received to upgrade and maintain information technology.

Hospice Equipment - Middlesbrough - Grants and donations received specifically to purchase hospice equipment.

Salaries - Middlesbrough - Grants received to fund clinical staff salaries.

Ancillary Funds - Middlesbrough - Donations and grants received to fund Children and their siblings for outings, events and special occasions.

Landry & Kitchen Refurd - Middlesbrough - Funding for complete refurbishment of the hospice laundry and kitchen facilities.

25 Analysis of net assets between funds

Group

Unrestricted

Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Total net assets
Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Total net assets		 General
£
Designated
£
1,119,730
-
496,999
-
2,327,289
500,000
3,944,018
500,000
Unrestricted
General
£
Designated
£
1,100,447
-
296,657
-
1,758,506
500,000
3,155,610
500,000		 Restricted
£
-
-
162,236
162,236
Restricted
£
5,425
-
188,627
194,052		 Total funds
at 30 June
2022
£
1,119,730
496,999
2,989,525
4,606,254
Total funds
at 30 June
2021
£
1,105,872
296,657
2,447,133
3,849,662

45

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2022

26 Analysis of net funds

Group

Group
Cash at bank and in hand
Net funds
Cash at bank and in hand
Net funds		 At 1 July
2021
£
2,238,586
2,238,586
At 1 July
2020
£
1,833,404
1,833,404		 Financing
cash flows
£
420,331
420,331
Financing
cash flows
£
405,182
405,182		 At 30 June
2022
£
2,658,917
2,658,917
At 30 June
2021
£
2,238,586
2,238,586

27 Related party transactions

Group

During the year the group made the following related party transactions:

J Stainsby

(Trustee)

The Trust reimbursed J Stainsby for travel expenses in the year of £2,938 (2021 - £164).

At the balance sheet date the amount due J Stainsby was £Nil (2021 - £Nil).

Zoe's Place Trading Limited

(Subsidary)

During the year, the charity made sales relating to management fees of £1,200 (2021 - £1,800), licensing fees of £Nil (2021 - £2,302) and received a gift aid distribution of £55,081 (201 - £35,169). The charity also made purchases relating to fundraising expenses of £19,580 (2021 - £Nil).

At the balance sheet date the amount due to Zoe's Place Trading Limited was £545 (2021 - £2,225 due from).

46