2024-06-30-accounts

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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 2024

Zoe's Place Trust

Reference and Administrative Details	1 to 2
Trustees' Report	3 to 18
Independent Auditors' Report	19 to 22
Consolidated Statement of Financial Activities	23
Consolidated Balance Sheet	24
Balance Sheet	25
Consolidated Statement of Cash Flows	26
Notes to the Financial Statements	27 to 49
Comparative Consolidated Statement of Financial Activities	50

Zoe's Place Trust

Reference and Administrative Details

Trustees J J Scarisbrick (resigned 7 December 2023) Reverend P D McGuire J Stainsby C Greenall Prof W Tin A Schofield, Appointed Chair December 2023 L Zapasnick (appointed 7 December 2023) M Cunningham (appointed 8 January 2024 and resigned 14 August 2024)

Secretary J Stainsby Key Management Personnel G Harris (Director of Clinical Services), M Wright (Head of Care), B Hill (Head of Care), T Armstrong (Head of Care) (appointed 1 June 2024), M Meaney (Head of Fundraising), H Langston (Head of Fundraising), L Harrison- Bryne (Head of Fundraising) (appointed 26 February 2024), D Wm. Reynolds FCMA CGMA (Interim Finance Director) (appointed 15 July 2023), L Locke (Finance Director) (appointed 1 July 2024), M Livingston (Director of Care), (resigned 10 May 2024) I Carr (Head of Fundraising), (resigned 2 February 2024) A Arkless (Director of Income Generation/Marketing), (resigned 13 November 2023) Registered Office Upper Ground Floor 15 Dormer Place Leamington Spa Warwickshire CV32 5AA Company Registration Number 04446416 Charity Registration Number 1092545

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

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.

Economic issues continue to have a major impact on our ability to fundraise which in turn has an effect on the amount of care and support we are able to provide to children and families in the three regions. The effects of high interest rates, fuel charges and food costs have meant members of the public had less disposable income they were able to donate to charities. As a result of this we have seen our overall income fall over the year, whilst unfortunately our costs have risen significantly mainly as a result of increased employment costs and utilities.

Unfortunately the relocation of the Liverpool hospice has been beset with major problems. When we started this journey we knew it would be a challenge, however were assured it was achievable. After much searching we had to settle for a site which would require extensive redevelopment, which in turn meant planning permission was needed. When this was eventually achieved there was insufficient time to construct a building within the remaining time frame. Unfortunately the quotes we were given for both the time and resources to build a new home for Zoe’s were woefully inaccurate and despite everyone’s best efforts our capital fundraising campaign did not raise the increased level of funding necessary. In light of these facts, plus there being no suitable alternative building available, the Trustees reluctantly and with much sadness made the decision to close the Liverpool hospice at the end of 2024. Since this announcement was made and following the involvement of the local MP there has been a huge outpouring of financial support from the Liverpool community to set up a locally based charity to take on the building and running of the hospice. At this point in time the Trustees are in negotiations with the new entity to try and make this aspiration a reality.

Turning to the future it is vital that we ensure we are able to continue to provide support to families and children at our Coventry and Middlesbrough Hospices. Both of which are financially stable and increasing the numbers of children and families we support.

Our first priority at this point in time is to provide stability, research and develop income streams to ensure we are well placed to take advantage of an improvement in the economy, maintain our engagement with the ICB’s to obtain maximum benefit from statutory funding available.

The future is still very much a challenge, however inflation has fallen from record highs, and it is anticipated that a reduction in interest rates will enable the economy to begin to improve, which would subsequently be helpful for our fundraising activities.

The restructuring of the Integrated Commissioning Boards, continues as does pressure on an already over-loaded NHS dominates the news.. All of which means that we will need to work hard to ensure that palliative, respite and end of life care for children occupies a strong place in planning and distribution of funds from the new Government. We are engaging with our local M.P.’s to harness their support that funding for Children’s Hospices features in any future planning and distribution of central funds. In line with many other Children’s Hospices we are concerned at the lack of confirmation that the Children’s Hospice Grant will continue past the current year. This is a major problem in trying to plan future budgets.

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.

Zoe's Place Trust

Trustees' Report

Objectives and Activities

The vision of Zoe's Place is to ensure that every family with a child aged from birth to 5 years, living in our regions, with a life-limiting or life-threatening illness 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:

• To provide essential specialist palliative, respite and end of life care and support to babies and children from birth to 5 years, and their families across our regions. This may be extended to age 8 if there is a clinical or family need.

To deliver these services in partnership with others
To champion the cause of children’s palliative care.

Our core value are:

Put care for the child at the centre of everything we do.
Encourage everyone to reach their potential - children, families, staff, volunteers and supporters.
Be open, honest and transparent in all that we do.

• Respect and value the contribution of all Zoe's Place staff, supporters, volunteers, parents and families.

Deliver the best effective care that our resources will allow.

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

Zoe's Place Trust

Trustees' Report

Facilities available at each Zoe's Place Hospice

Each Hospice can accommodate up to six infants 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.

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.

The following outlines the key services we have provided for our children and families this year.

Zoe's Place Trust

Trustees' Report

Achievements and Performance

Caseload numbers in July 2024 - there was a total caseload of 134 children being supported - an increase of 8% from last year. Throughout the year children have graduated been discharged, or died, however the total number of children supported was 163.

Occupancy across the year

The occupancy target as set by the Board of Trustees was 80%, average occupancy across all hospices was 85%

Zoe's Place Trust

Trustees' Report

Therapy Sessions.

A variety of therapies are offered across each hospice. Much work is being done to try and make these services more equitable to all children and families who access Zoe’s Place, regardless of their geographical location.

This year in total the following therapy sessions were provided.

323 individual physiotherapy 107 children benefitted 139 music therapy 62 children benefitted 41 animal therapy 88 children benefitted 12 dance therapy 12 children benefitted

In addition the following support was provided to siblings and extended members of the family.

In addition to the therapies mentioned we have also provided a total of 156 day trips out and 13 family parties!

Zoe's Place Trust

Trustees' Report

Feedback on our service

We encourage feedback from our parents/carers as a means of learning and improving our facilities.

Throughout the year we received more than 395 written compliments from families. Here are some of the comments:

SUMMARY OF ACHIEVEMENTS IN 2023-2024

Zoe's Place Trust

Trustees' Report

CLINICAL GOVERNANCE UPDATE

The Clinical team have continued their work this year strengthening each area of the clinical governance systems and processes. This provides better and more sound assurances to the Trustees and external inspectorates of the high quality care we provide. Additionally, we have improved the way we measure our services, analyse issues when we don’t quite get it right and learn lessons.

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. 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.

Fundraising activities

Zoe's Place Baby Hospice is reliant on the support given to us from our local communities, and further afield, to ensure we can continue to support the children and families who need our services. In a year when people's disposable income was squeezed by the cost of living crisis, we are exceptionally grateful to our supporters for their loyalty and generosity.

Our approach to fundraising

Our team of fundraisers and volunteers, based in each hospice, offer a wide range of activities through which people can support our cause. From events and community led fundraising to corporate donations, regular direct debits and gifts left in wills, we aim to have a method of giving that suits the circumstances of all supporters.

Alongside our own fundraising, we work with two clothing recycling companies and an external lottery partner, who employs a commercial participator to undertake recruitment activities on our behalf. We keep in touch with these third parties and receive regular reports from them.

Regulation, compliance and governance

We are registered with the Fundraising Regulator and comply with the Code of Fundraising Practice. We had no compliance issues with the scheme during the year. In 2023/24 we were a corporate member of the Chartered Institute of Fundraising (CIOF) and several members of the fundraising leadership team hold individual membership. A member of the fundraising team attended the CIOF's national convention.

Complaints

We received no formal fundraising complaints during the 2023/2024 year

During the year 2023-24 we received one complaint from a parent concerned that although their child was “nil by mouth” they may had received liquid. This complaint was investigated and found that the child had not received any fluids orally during their stay at the hospice

Zoe's Place Trust

Trustees' Report

Protecting vulnerable people and members of the public

Two members of the fundraising leadership team are experienced in protecting vulnerable people and are available to support and give guidance to other team members on any concerns. During the next year we will roll out training on this subject to other team members.

Zoe's Place Baby Hospice undertook limited direct marketing to our supporters and we do not believe that this activity has been an unreasonable intrusion on people's privacy. All direct marketing materials include information on how to opt out from receiving marketing. The majority of our fundraising asks are made over social media, which followers choose to receive and members of the public can easily 'switch off'. We hold regular fundraising leadership team meetings where any concerns regarding our contacts with the public can be discussed.

• All funds raised by the Charity will be spent for the purpose for which they are raised. All funds raised through sponsorship activities will be banked into the Charity's bank account before deduction of expenses.

Zoe’s Place will comply with all relevant law, regulation and codes of practice.
Zoe’s Place will employ suitably qualified and experienced fundraising staff

• Zoe’s Place will never sell or share supporters’ personal information with a third party. Unless required by law to do so for example HMRC.

• All literature will properly describe what donations will be used for. All fundraising activities will be conducted in an open honest and transparent manner.

• Zoe's Place does not employ the services of Professional Fundraisers, however we do work with third parties in some of our fundraising activities.

Zoe's Place Trust

Trustees' Report

Financial Review

Zoe's Place is truly grateful for the outstanding support and dedication of our donors and partners, during a time of economic uncertainty and fiscal challenges, which has allowed us to continue our vital work. The remarkable generosity of our donors has generated an impressive total income for the 2023/24 financial year of £4,024,456 (2022/23: £4,296,385).

Fundraising income from donations and events reached an impressive £1,912,254, exceeding our expectations.

A summary of Zoe’s Place financial performance is as follows:

Zoe's Place Trust

Trustees' Report

We received the Grant from NHS England totalling £640,782.

We continue to build our relationship with the ICB’s in our areas who contributed £641,104 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 outcoming resources of £1,228,398 (2023 - outcoming - £100,904). Total funds amount to £3,276,952. Of the total funds as at the year end £825,303 were restricted and £2,451,649 being unrestricted funds of the group. Of the unrestricted funds £1,174,111 are Fixed Assets and £298,906 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 including the building at Liverpool 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 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. Taking into account timing differences of funds received in respect of the Liverpool New Hospice Projects the Trustees consider it would be appropriate to hold the equivalent of six months expenditure.

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 £298,906

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.

Zoe's Place Trust

Trustees' Report

Pay policy for Key Management Personnel and other staff

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

Zoe's Place Trust is committed to ensuring that we pay our staff fairly and in a way which
• ensures we attract and retain the best staff and right skill mix to have the greatest impact in delivering our charitable objectives.
Zoe’s Place has introduced hybrid working where possible to help in the work/life balance for our staff.
Zoe's Place Trustees do not receive any pay, though they may be reimbursed reasonable out of pocket expenses incurred in the pursuit of their duties.
Zoe's Place will continue to provide an environment where our teams are able to do their work in a place where everyone can flourish.
Zoe's Place will disclose the basis of all pension contributions and other benefits.
When setting salaries account will be taken of those payable in other Hospices and/or in the care sector as a whole.
Salary will be proportionate to the complexity of each role.
Salary will be consistent with the need to make best use of supporters’ donations and public money.
Zoe's Place will have an open and transparent pay structure through-out the Charity.

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.

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, CQC Regulations, employment legislation, Health & Safety and GDPR. 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

Changes in Government policy affecting distribution of funding from NHS England.

Changes in Local Authority or local NHS policy affecting referrals of children to the service.

Damage to our reputation.

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.

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.

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 04446416. 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 3 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.

Zoe's Place Trust

Trustees' Report

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.

Officers

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

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.

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.

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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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 parent charitable company and the group and of the incoming resources and application of resources, including its income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the parent charitable company will continue in business.

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the parent charitable company and the group 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 parent charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

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

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 Z)) | 24 behalf by:

......................................... A Schofield Trustee

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 2024, 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:

give a true and fair view of the state of the group's and parent charity's affairs as at 30 June 2024 and of the group's incoming resources and application of resources, including its income and expenditure for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 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 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.

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 matter prescribed by the Companies Act 2006

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

the information given in the financial statements and trustees report Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the financial statements and trustees report Trustees' Report have been prepared in accordance with applicable legal requirements.

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:

adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent charitable company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees remuneration specified by law are not made; 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 Trustees' Responsibilities (set out on page 17), 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.

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:

Enquiries with management about any known or suspected instances of non-compliance with laws and regulations and fraud;
Reviewing board minutes;
Challenging assumptions and judgements made by management in their significant accounting estimates;
Review financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and
Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness.

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

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.

Zoe's Place Trust

Consolidated Statement of Financial Activities for the Year Ended 30 June 2024 (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 (expenditure)/income Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 24	Unrestricted £ 1,521,275 677,583 639,364 25,278 24,695 2,888,195 (1,418,047) (2,805,610) (4,223,657) 58,440 (1,277,022) (310) (1,277,332) 3,728,981 2,451,649	Restricted £ 1,136,261 - - - - 1,136,261 - (1,087,637) (1,087,637) - 48,624 310 48,934 776,369 825,303	Total 2024 £ 2,657,536 677,583 639,364 25,278 24,695 4,024,456 (1,418,047) (3,893,247) (5,311,294) 58,440 (1,228,398) - (1,228,398) 4,505,350 3,276,952	Total 2023 £ 3,259,282 535,128 484,039 11,711 6,225
				4,296,385
				(1,139,911) (3,280,571)
				(4,420,482) 23,193
				(100,904) -
				(100,904) 4,606,254
				4,505,350

All of the group's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 24.

Zoe's Place Trust

(Registration number: 04446416) Consolidated Balance Sheet as at 30 June 2024

		2024	2023
	Note	£	£
Fixed assets
Tangible assets	16	1,174,111	1,173,183
Investments	17	578,632	520,192
		1,752,743	1,693,375
Current assets
Stocks	18	-	3,770
Debtors	19	809,721	920,429
Cash at bank and in hand	20	1,916,685	3,220,459
		2,726,406	4,144,658
Creditors: Amounts falling due within one year	21	(1,202,197)	(1,332,683)
Net current assets		1,524,209	2,811,975
Net assets		3,276,952	4,505,350
Funds of the group:
Restricted		825,303	776,369
Unrestricted income funds
Designated funds		400,000	700,000
General funds		2,051,649	3,028,981
Total unrestricted funds		2,451,649	3,728,981
Total funds	24	3,276,952	4,505,350

The financial statements on pages 23 to 50 were approved by the trustees, and authorised for issue on .................... ASP and signed on their behalf by:

.........................................

A Schofield

Trustee

Zoe's Place Trust

(Registration number: 04446416) Balance Sheet as at 30 June 2024

		2024	2023
	Note	£	£
Fixed assets
Tangible assets	16	1,174,111	1,173,183
Investments	17	579,632	521,192
		1,753,743	1,694,375
Current assets
Debtors	19	808,855	908,098
Cash at bank and in hand	20	1,867,655	3,179,899
		2,676,510	4,087,997
Creditors: Amounts falling due within one year	21	(1,199,538)	(1,324,440)
Net current assets		1,476,972	2,763,557
Net assets		3,230,715	4,457,932
Funds of the charity:
Restricted		844,693	776,369
Unrestricted income funds
Designated funds		400,000	700,000
Unrestricted funds		1,986,022	2,981,563
Total unrestricted funds		2,386,022	3,681,563
Total funds	24	3,230,715	4,457,932

The charity made a deficit after tax for the financial year of £1,227,217 (2023 Deficit - £96,036).

The financial statements on pages 23 to 50 were approved by the trustees, and authorised for issue ha on .................... and signed Bal on their behalf by:

.........................................

A Schofield Trustee

Zoe's Place Trust

Consolidated Statement of Cash Flows for the Year Ended 30 June 2024

Note Cash flows from operating activities Net cash expenditure Adjustments to cash flows from non-cash items Depreciation 8 Investment income 6 Loss on disposal of tangible fixed assets Revaluation of investments Working capital adjustments Decrease/(increase) in stocks 18 Decrease/(increase) in debtors 19 (Decrease)/increase 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 Net cash flows from investing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at 1 July Cash and cash equivalents at 30 June	2024 £ (1,228,398) 95,774 (25,278) - (58,440) (1,216,342) 3,770 110,708 (130,486) (1,232,350) 25,278 (96,702) (71,424) (1,303,774) 3,220,459 1,916,685	2023 £ (100,904) 83,052 (11,711) 158 (23,193)
		(52,598) (1,472) (190,450) 973,584
		729,064
		11,711 (136,663)
		(124,952)
		604,112 2,616,347
		3,220,459

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

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

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 2024.

No statement of financial activities is presented for the charity as permitted by section 408 of the Companies Act 2006. The charity made a deficit after tax for the financial year of £1,227,217 (2023 - £96,031)

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

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 which is related to a financial year is recognised in line with the charity's financial year, with grant income accrued and deferred in line with this cycle.

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

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.

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

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.

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

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.

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

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 Donations and legacies; Donations Legacies Gift aid reclaimed Grants, including capital grants; NHS England Grant Grants and Trust income	Unrestricted funds General £ 1,173,483 104,497 104,587 - 138,708 1,521,275 Unrestricted funds General £ 1,240,493 228,386 73,949 - 193,464 1,736,292	Restricted funds £ 107,709 - - 640,784 387,768 1,136,261 Restricted funds £ 15,000 620,000 - 556,464 331,526 1,522,990	Total 2024 £ 1,281,192 104,497 104,587 640,784 526,476
			2,657,536
			Total 2023 £ 1,255,493 848,386 73,949 556,464 524,990
			3,259,282

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

4 Income from charitable activities

Respite Care GP Cover Respite Care GP Cover	Unrestricted funds General £ 641,104 36,479 677,583 Unrestricted funds General £ 491,298 - 491,298	Restricted funds £ - - - Restricted funds £ - 43,830 43,830	Total 2024 £ 641,104 36,479
			677,583
			Total 2023 £ 491,298 43,830
			535,128

5 Income from other trading activities

Appeals Clothes Aid SNAK appeal Fundraising Merchandise Lottery Clothes Recycling Appeals Clothes Aid SNAK appeal Fundraising Merchandise Lottery Clothes Recycling	Unrestricted funds General £ 36,376 861 521,391 1,617 64,514 14,605 639,364 Unrestricted funds General £ 37,346 984 354,793 3,818 70,539 16,559 484,039	Total 2024 £ 36,376 861 521,391 1,617 64,514 14,605
		639,364
		Total 2023 £ 37,346 984 354,793 3,818 70,539 16,559
		484,039

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

6 Investment income

Other income from fixed asset investments Other income from fixed asset investments 7 Other income Work Placements Other income Work Placements Other income	Unrestricted funds General £ 25,278 25,278 Unrestricted funds General £ 11,711 11,711 Unrestricted funds General £ 12,513 12,182 24,695 Unrestricted funds General £ 5,411 814 6,225	Total 2024 £ 25,278
		25,278
		Total 2023 £ 11,711
		11,711
		Total 2024 £ 12,513 12,182
		24,695
		Total 2023 £ 5,411 814
		6,225

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

8 Expenditure on raising funds

Employment costs Fundraising cost of sales Advertising and PR 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 £ 931,985 329,154 15,882 13,570 14,099 1,946 20,536 81,743 2,996 6,136 - 1,418,047	Restricted funds £ - - - - - - - - - - - -	Total 2024 £ 931,985 329,154 15,882 13,570 14,099 1,946 20,536 81,743 2,996 6,136 - 1,418,047	Total 2023 £ 748,433 238,009 15,777 14,894 25,111 5,502 11,074 67,032 8,182 5,889 8
				1,139,911

Total expenditure on raising funds in 2023 of £1,139,911 comprised unrestricted expenditue of £1,139,911 and restricted expenditure of £Nil.

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

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 £ 2,075,536 547,027 183,047 2,805,610 Unrestricted funds General £ 1,914,588 339,846 63,886 2,318,320 Activity undertaken directly £ 3,163,173 - 3,163,173 Activity undertaken directly £ 2,705,001 - 2,705,001	Restricted funds £ 1,087,637 - - 1,087,637 Restricted funds £ 790,413 171,838 - 962,251 Activity support costs £ 547,026 183,048 730,074 Activity support costs £ 511,684 63,886 575,570	Total 2024 £ 3,163,173 547,027 183,047
			3,893,247
			Total 2023 £ 2,705,001 511,684 63,886
			3,280,571
			2024 £ 3,710,199 183,048
			3,893,247
			2023 £ 3,216,685 63,886
			3,280,571

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

10 Analysis of governance and support costs Support costs £ Employment Costs 335,926 HR - Legal fees - Audit fees - Care Quality - Professional fees 13,801 Travel and subsistence 17,233 Depreciation 8,856 Premises 12,213 Repairs and maintenance 74,651 Other office costs 72,187 Staff training 9,513 Hire of equipment 2,647 (Profit)/loss on disposal of tangible fixed assets - 547,027	Governance costs £ 7,144 444 117,502 12,634 3,861 26,278 - - - - 15,184 - - - 183,047	Total 2024 £ 343,070 444 117,502 12,634 3,861 40,079 17,233 8,856 12,213 74,651 87,371 9,513 2,647 - 730,074	Total 2023 £ 351,572 8,556 1,920 16,386 3,862 34,274 19,051 7,577 16,237 101,229 4,507 7,755 2,629 15 575,570

11 Net incoming/outgoing resources

Net outgoing resources for the year include:

Operating leases - other assets Audit fees Other non-audit services Loss on disposal of tangible fixed assets Depreciation of fixed assets	2024 £ 264,700 14,950 3,375 - 95,774	2023 £ 26,295 10,400 2,900 158 83,052

12 Trustees remuneration and expenses

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

J Stainsby

The trustee was reimbursed for travel expenses in the year of £5,112 (2023 - £4,274).

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.

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

13 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were: Wages and salaries Social security costs Pension costs	2024 £ 3,325,186 318,325 155,815 3,799,326	2023 £ 2,840,081 267,345 128,080
		3,235,506

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	2024 No 6 2 32 84 7 131	2023 No 6 5 23 83 5
		122

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

£60,001 - £70,000 £70,001 - £80,000	2024 No - 1	2023 No 2 -

The total employee benefits of the key management personnel of the group were £656,871 (2023 - £548,829).

14 Auditors' remuneration

14 Auditors' remuneration
Audit of the financial statements Other fees to auditors All other non-audit services	2024 £ 14,950 3,375	2023 £ 10,400
		2,900

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

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 2023 Additions At 30 June 2024 Depreciation At 1 July 2023 Charge for the year At 30 June 2024 Net book value At 30 June 2024 At 30 June 2023	Land and buildings £ 2,004,725 - 2,004,725 1,109,118 21,218 1,130,336 874,389 895,607	Furniture and equipment £ 1,064,469 96,702 1,161,171 808,450 69,167 877,617 283,554 256,019	Motor vehicles £ 148,658 - 148,658 127,101 5,389 132,490 16,168 21,557	Total £ 3,217,852 96,702
				3,314,554
				2,044,669 95,774
				2,140,443
				1,174,111
				1,173,183

Included within the net book value of land and buildings above is £874,389 (2023 - £895,607) in respect of freehold land and buildings and £Nil (2023 - £Nil) in respect of leaseholds.

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

17 Fixed asset investments

Group

Group
Other investments Other investments Cost or Valuation At 1 July 2023 Revaluation At 30 June 2024 Net book value At 30 June 2024 At 30 June 2023 The following shares included within other investments exceeded 5% • Baillie Gifford Managed Acc - £116,077 • L&G Multi Index 6 Acc - £114,443 • Liontrust Sustainable Future - £112,623 • Royal London GMAP Adevnturous Acc - £115,792 • Vangaurd Life Strategy 80% Equity Acc- £118,823 Charity Shares in group undertakings and participating interests Other investments		2024 £ 578,632 Listed investments and cash £ 520,192 58,440		2023 £ 520,192
	of		Total £ 520,192 58,440 578,632 578,632 520,192 of investments: 2023 £ 1,000 520,192
		578,632
		578,632
		520,192
		the total value 2024 £ 1,000 578,632 579,632
			521,192

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

Shares in group undertakings and participating interests

Cost At 1 July 2023 At 30 June 2024 Net book value At 30 June 2024 At 30 June 2023 Other investments Cost or Valuation At 1 July 2023 Revaluation At 30 June 2024 Net book value At 30 June 2024 At 30 June 2023	Subsidiary undertakings £ 1,000 1,000 1,000 1,000 Listed investments and cash £ 520,192 58,440 578,632 578,632 520,192	Total £ 1,000
		1,000
		1,000
		1,000
		Total £ 520,192 58,440
		578,632
		578,632
		520,192

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

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
			2024	2023
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 £46,684 (2023 - £47,864) and the aggregate amount of capital and reserves at the end of the period was £47,235 (2023 - £48,415).

18 Stock

18 Stock
Finished goods 19 Debtors Trade debtors Due from group undertakings Prepayments and accrued income VAT recoverable Other debtors	Group 2024 £ 2023 £ - 3,770 Group 2024 £ 2023 £ 335,591 88,992 - - 423,326 795,196 48,829 34,161 1,975 2,080 809,721 920,429	Charity 2024 £ 2023 £ - - Charity 2024 £ 2023 £ 325,040 73,687 9,033 - 418,993 794,944 53,814 37,387 1,975 2,080 808,855 908,098
			908,098

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

20 Cash and cash equivalents

20 Cash and cash equivalents
Group 2024 £ 2023 £ Cash on hand 2,410 1,894 Cash at bank 1,914,275 3,218,565 1,916,685 3,220,459 21 Creditors: amounts falling due within one year Group 2024 £ 2023 £ Trade creditors 173,103 163,272 Due to group undertakings - - Other taxation and social security 73,560 67,835 Other creditors 60,288 61,826 Accruals and deferred income 895,246 1,039,750 1,202,197 1,332,683 Deferred income Group and Charity Deferred income at 1 July 2023 Resources deferred in the period Amounts released from previous periods Deferred income at year end	Charity 2024 £ 2023 £ 2,410 1,894 1,865,245 3,178,005 1,867,655 3,179,899 Charity 2024 £ 2023 £ 173,104 157,824 - 5 73,560 67,835 60,288 61,826 892,586 1,036,950 1,199,538 1,324,440 2024 £ 2023 £ 954,817 98,575 832,330 954,817 (954,817) (98,575) 832,330 954,817
		1,324,440
		2023 £ 98,575 954,817 (98,575)
		954,817

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

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

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 After five years Other Within one year Between one and five years	Group 2024 £ 2023 £ 34,500 58,303 105,872 100,000 62,478 94,795 202,850 253,098 12,120 15,229 30,559 - 42,679 15,229	Charity 2024 £ 2023 £ 34,500 58,303 105,872 100,000 62,478 94,795 202,850 253,098 12,120 15,229 30,559 - 42,679 15,229	Charity 2024 £ 2023 £ 34,500 58,303 105,872 100,000 62,478 94,795 202,850 253,098 12,120 15,229 30,559 - 42,679 15,229
			253,098
			15,229 -
			15,229

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 £155,815 (2023 - £128,080).

Contributions totalling £22,112 (2023 - £23,134) were payable to the scheme at the end of the year and are included in creditors.

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

24 Funds

Group Unrestricted funds *General* General fund *Designated* Purchase of New Building Total unrestricted funds Restricted funds Liverpool New Building Fundraising Hospice Nurses - Coventry Minibus - Coventry GP Services - Coventry Salaries - Coventry Ancillary Funds - Coventry Physiotherapy- Coventry Hospice Equipment - Coventry Therapy Fund - Coventry Hospice UK - Liverpool Hospice Equipment - Liverpool End of Life Room - Liverpool Ancillary Funds - Liverpool	Balance at 1 July 2023 £ 3,028,981 700,000 3,728,981 - - 3,052 2,625 5,000 4,980 - 5,052 3,824 - 6,806 9,599 8,051	Incoming resources £ 2,888,195 - 2,888,195 107,709 213,594 - 10,000 82,325 4,000 4,800 - 8,680 213,595 - - 7,455	Resources expended £ (4,223,657) - (4,223,657) - (213,594) (1,837) (12,625) (87,330) (3,104) (4,800) (519) (6,016) (213,595) (1,610) 175 (8,183)	Transfers £ 299,690 (300,000) (310) - - - - 5 - - - - - - - -	Other recognised gains/(losses) £ 58,440 - 58,440 - - - - - - - - - - - - -	Balance at 30 June 2024 £ 2,051,649 400,000
						2,451,649
						107,709 - 1,215 - - 5,876 - 4,533 6,488 - 5,196 9,774 7,323

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

GP Cover - Liverpool Therapy Fund - Liverpool Salaries - Middlesbrough Salaries - Liverpool Laundry & Kitchen Refurb - Middlesbrough Hospice Equipment - Middlesbrough Technology Fund - Middlesbrough Therapy Fund - Middlesbrough Ancillary Funds - Middlesbrough Hospice Nurses - Middlesbrough Refurb Appeal - Middlesbrough Playground Middlesbrough Middlebrough Legacy Total restricted funds Total funds	Balance at 1 July 2023 £ 23,400 23,916 5,000 15,000 2,715 10,143 1,249 8,381 9,534 - 8,042 - 620,000 776,369 4,505,350	Incoming resources £ 36,479 35,548 56,626 77,325 - 7,080 - 5,160 2,290 213,595 - 50,000 - 1,136,261 4,024,456	Resources expended £ (34,710) (44,674) (59,630) (92,630) (2,715) (12,578) (1,008) (8,469) (6,744) (213,595) (7,846) (50,000) - (1,087,637) (5,311,294)	Transfers £ - - - 305 - - - - - - - - - 310 -	Other recognised gains/(losses) £ - - - - - - - - - - - - - - 58,440	Balance at 30 June 2024 £ 25,169 14,790 1,996 - - 4,645 241 5,072 5,080 - 196 - 620,000
						825,303
						3,276,952

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

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

New building Fund - The trustees have set aside £400,000 to be utilised for a new building for the Liverpool Hospice to relocate.-

New Building Fundraising- This is amounts raised towards the relocation of Liverpool Hospice.

Hospice Nurses - NHS Grant to pay the nurses salaries.

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.

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

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.

Laundry & Kitchen Refurb - 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 £ 1,174,111 - 578,632 - 298,906 400,000 2,051,649 400,000 Unrestricted General £ Designated £ 1,173,183 - 520,192 - 1,335,606 700,000 3,028,981 700,000	Restricted £ - - 825,303 825,303 Restricted £ - - 776,369 776,369	Total funds at 30 June 2024 £ 1,174,111 578,632 1,524,209
			3,276,952
			Total funds at 30 June 2023 £ 1,173,183 520,192 2,811,975
			4,505,350

Zoe's Place Trust

Notes to the Financial Statements for the Year Ended 30 June 2024

26 Analysis of net funds

Group

Group
Cash at bank and in hand Net debt Cash at bank and in hand Net funds	At 1 July 2023 £ 3,220,459 3,220,459 At 1 July 2022 £ 2,616,347 2,616,347	Financing cash flows £ (1,303,774) (1,303,774) Financing cash flows £ 604,112 604,112	At 30 June 2024 £ 1,916,685
			1,916,685
			At 30 June 2023 £ 3,220,459
			3,220,459

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 £5,112 (2023 - £3,746).

At the balance sheet date the amount due J Stainsby was £Nil (2023 - £Nil).

Zoe's Place Trading Limited

(Subsidary)

During the year, the charity made sales relating to management fees of £1,200 (2023 - £1,200), licensing fees of £5,348 (2023 - £5,600 and received a gift aid distribution of £47,864 (2023 - £52,737. The charity also made purchases relating to fundraising expenses of £Nil (2023 - £4,700)..

At the balance sheet date the amount due from Zoe's Place Trading Limited was £9,033 (2023 - £Nil).

Zoe's Place Trust

Comparative Consolidated Statement of Financial Activities for the Year Ended 30 June 2023 (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 (expenditure)/income Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 24	Unrestricted £ 1,736,292 491,298 484,039 11,711 6,225 2,729,565 (1,139,911) (2,318,320) (3,458,231) 23,193 (705,473) (9,564) (715,037) 4,444,018 3,728,981	Restricted £ 1,522,990 43,830 - - - 1,566,820 - (962,251) (962,251) - 604,569 9,564 614,133 162,236 776,369	Total 2023 £ 3,259,282 535,128 484,039 11,711 6,225
			4,296,385
			(1,139,911) (3,280,571)
			(4,420,482) 23,193
			(100,904) -
			(100,904) 4,606,254
			4,505,350

ZOE'S PLACE TRUST

Zoe's Place Trust

Contents

Zoe's Place Trust

Reference and Administrative Details

Zoe's Place Trust

Reference and Administrative Details

Zoe's Place Trust

Trustees' Report

Chairmans report

Zoe's Place Trust

Trustees' Report

Objectives and Activities

Beneficiaries

Zoe's Place Trust

Trustees' Report

Facilities available at each Zoe's Place Hospice

Zoe's Place Trust

Trustees' Report

Achievements and Performance

Occupancy across the year

Zoe's Place Trust

Trustees' Report

In addition to the therapies mentioned we have also provided a total of 156 day trips out and 13 family parties!

Zoe's Place Trust

Trustees' Report

Feedback on our service

SUMMARY OF ACHIEVEMENTS IN 2023-2024

Zoe's Place Trust

Trustees' Report

CLINICAL GOVERNANCE UPDATE

Other Achievements

Fundraising activities

Our approach to fundraising

Regulation, compliance and governance

Complaints

Zoe's Place Trust

Trustees' Report

Protecting vulnerable people and members of the public

Zoe's Place Trust

Trustees' Report

Financial Review

A summary of Zoe’s Place financial performance is as follows:

Zoe's Place Trust

Trustees' Report

Overall Summary

Reserves and Going Concern

Zoe's Place Trust

Trustees' Report

Pay policy for Key Management Personnel and other staff

Risk Management

Zoe's Place Trust

Trustees' Report

Financial

Operational

Compliance with Law and regulations

External Risks

Strategic

Zoe's Place Trust

Trustees' Report

Related Parties

Governing Document

Governance/Management

Recruitment of Trustees

Zoe's Place Trust

Trustees' Report

Trustee induction and training

Officers

Public Benefit Statement

How the activities of Zoe's Place deliver public benefit

Investment Powers and Restrictions

Zoe's Place Trust

Trustees' Report

Investment policy and performance

Statement of Trustees' Responsibilities

Zoe's Place Trust

Trustees' Report

Disclosure of information to auditor

Reappointment of auditor