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2023-03-31-accounts

Charity registration number 1095708

Company registration number 04609579 (England and Wales)

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs S Black
Mr D Claxton
Mr M K Clementson
Mr K Coulthard (Appointed 8 December 2022)
Mrs M A Drury
Dr H A Dunning
Mrs M Gray
Mrs J S Lamb (Appointed 8 December 2022)
Prof S Reveley
Mrs D J Shearer (Appointed 8 December 2022)
Rev D C Wood
Chief Executive Officer Mrs D McKenna
Secretary Mrs L Robinson
Charity number 1095708
Company number 04609579
Registered office Valley Court
Barras Lane
Dalston
Carlisle
CA5 7NY
Auditor Saint & Co.
Sterling House
Wavell Drive
Rosehill
Carlisle
CA1 2SA
Bankers Lloyds Bank plc
5-6 King Street
Penrith
CA11 7AP
Solicitors Cartmell Shepherd Solicitors
Bishop Yards
Penrith
CA11 7XS
Investment advisors Arc Eden Limited
1c Wavell Drive
Rosehill
Carlisle
CA1 2ST

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

CONTENTS

Page
Trustees' report 1 - 7
Independent auditor's report 8 - 11
Statement of financial activities 12 - 13
Statement of financial position 14
Statement of cash flows 15
Notes to the financial statements 16 - 33

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Objectives and aims

The objectives of the charity are to relieve the suffering of and provide palliative and supportive care to persons of either sex who are suffering from any terminal illness, or from any other physical or mental infirmity, disability or disease by the establishment and provision of domiciliary and supportive care and in such other ways as the trustees shall from time to time determine.

The charity's sole area of charitable activity is the provision of clinical services including palliative and end of life nursing care, bereavement and family support, lymphoedema, occupational and complementary therapies in patients' homes.

The charity has worked to achieve these objectives by providing specially trained clinicians who complement the services provided by District Nurses, General Practitioners and Macmillan Nurses, thus making the "staying at home" option a realistic one. Its services are open to all palliative and end of life patients regardless of their age, address (within our clinical boundaries), end-stage illness or financial circumstances. The service is entirely free to the patients and their families.

The charity delivers its objectives by:

Objectives, strategies and activities

Palliative Care Development

Palliative care is the active total care of patients whose illness is not responsive to curative treatments. Control of pain, of other symptoms and of psychological, social and spiritual problems is paramount. The goal of palliative care is the achievement of the best possible quality of life for patients and their families. End of life care is an important part of palliative care and usually refers to the management of patients at the stage where there is steady deterioration in a patient's condition and death is close.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Achievements and performance

The annual business plan which supports the 3 year strategy (April 1st 2021 to March 31st 2024) set out the intentions for the organisation and the following outlines some of the achievements this financial year.

In addition to their usual duties the Trustees were actively engaged in planning for and recruiting a New Chief Executive, a process that reached a successful conclusion in October 2022. Since then we have been looking to support the new CEO as they seek to manage and develop Hospice at Home Carlisle and North Lakeland as a well-respected provider of palliative and end-oflife care in our area. In February a new Finance lead and Clinical Lead were appointed. The Clinical Lead will take on the role of registered manager later this year.

During this financial year the number of patient referrals was 985 with 99 patients receiving 2 of our clinical services, 29 receiving 3 and 12 receiving 4. This was an increase of 6% on the previous financial year. The clinical teams have been working with colleagues across the health system to promote earlier referrals for patients and carers.

The results of a research project evidenced some of the needs of carers locally. A resounding theme was the need for respite care to promote resilience and confidence that their loved one is receiving appropriate care and support. As a result, and in coproduction with Cumberland Council a pilot project funded by Hospice at Home Carlisle and North Lakeland has been commissioned, resulting in a residential bed secured in a local residential home for referred patients. The aim is for this to be operating from August 2023 and it will be evaluated during the course of the year.

The hospices in North Cumbria identified the need to improve connections with members of our community who don’t have English as a 1[st] language earlier in the year. We are aware that there are communities who don’t know about and therefore don’t access our services. Hospice at Home Carlisle and North Lakeland, Eden Valley Hospice (EVH) and Jigsaw Cumbria’s Children’s Hospice and Hospice at Home West Cumbria have worked together to see how we can collaboratively develop those improved relationships and better understanding. A successful bid for one off funding from NHS England of £10,000 was made by EVH and this has facilitated work around this, including the attendance at Culture Bazaar 2023 and installation of the ReciteMe tool on our website.

Following the pandemic, NHS crisis, energy crisis, inflation and current cost of living crisis there has been an increased focus and investment with regards to fund raising to ensure sustainable care and support for our service users. Although some income streams have seen a decrease it is positive that the retail shops have seen an increase in income in the year. The team are embracing new approaches and opportunities to raise further funds in the coming year.

Our educational and development strategy has been expanded to an organisational document and there has been a renewed focus with regards to workforce planning and personal development for existing staff. Recruitment remains difficult for clinical teams as it is nationally and a range of improved benefits have been promoted with some success, this is an ongoing project as we continue to strive to provide as much care as possible.

The end of the year in March 2023 marked a celebration of our 25[th] anniversary. Over one hundred people attended the event including HRH The Duke of Gloucester, remembering and thanking those who have helped and who have worked for our charity, whether paid or voluntarily, over the years, with acknowledgement of the achievements of the charity founders and former CEO Fiona Stobart. Special thanks goes to the owners of Askham Hall, Lady Marie-Louisa Raeburn and Charles Lowther who kindly hosted the event and have been strong supporters of the charity.

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Planned developments for the year 2023 – 2024

Over the coming year we aim for the charities continued growth both clinically and in fundraising, exploring new opportunities whilst also being mindful of the existing financial pressures on the UK health system and the impact cost efficiencies place on it.

We have been fortunate enough to be awarded the support of Pilot Light 360 which is a charity that amplifies other charities by partnering them with support from individuals with relevant expertise. This will support our continual improvement in the quality of what we do and our strategic development, ensuring we use our donations to the maximum ability which is at is at the forefront of our minds as we navigate through very challenging financial times.

We continue to engage with partners in the newly formed Integrated Care Board and Place and both Local Authorities in our geographical area, Cumberland and Westmorland and Furness Councils with a view to improve the response and care provided for our local community.

In June we will engage with the Carlisle College’s very first “ Give a Day - Apprentice Take Over Day 2023 ”. The college has offered to support three charities for the day including our Court Yard Garden, apprentices will give their time and work to improve the space with our corporate fundraiser working with local businesses to support resources for the project.

Our garden is normally maintained by staff (in their own time) and our wonderful volunteers, however following a harsh winter and the knock on effects of being untouched during the pandemic we have found ourselves in need of some extra help. There are so many mental wellness benefits associated with being outdoors, such as relieving stress and anxiety and we are extremely grateful to “Give a Day - Apprentice Take Over” for lending a hand and transforming our outdoor space.

Re-vamp of the court yard garden will enable our bereavement support team to return to use the natural space outside which can have a significant impact on individual’s mental health, helping to reduce stress, anxiety and depression, thus improving general psychological well-being. Our staff member’s well-being is equally important and the space will also be utilised by all Hospice at Home team members.

We are extremely grateful for all support received which comes in many forms and includes our business partners who have increased from 43 to 47 during this last year. We aim to build on these partnerships in the coming year.

Appleby Creamery Ltd Eddie Wannop Ltd Nilfisk Limited
Arc Eden Ltd Eden Housing Association North Lakes Glass Ltd
Armstrong Watson LLP George Hudson Orton Grange Café & Gifts
Atkinsons Building Contractors Integrity Office Ltd Peter Tyson
Burbush of Penrith Jill Glencross Independent Funeral Directors Pioneer Foods Ltd
Burnetts Solicitors John Norris of Penrith Richardson Funeral Directors
Carigiet Cowen Ltd John Richardson & Son Ltd Story Homes Ltd
Carlisle Racecourse Lakes Estates Tech 4 Office Equipment
Carlisle Refrigeration Limited Larch Cottage Nurseries The Toffee Shop
Carlisle United Football Club Limited Genevieve Thomas Graham & Sons Ltd
Cartmell Shepherd Limited Lloyd Jaguar Land Rover Trade Copiers
Cranstons Ltd Logic Business Systems Ltd Ullswater Steamers
Cubby Construction Limited Lowther Castle & Gardens Used Cars 4 Less
Cumberland Building Society McKnight & Son Builders Ltd Waitings Ltd
David Allen McVities Group Wm Armstrong (Longtown) Ltd
Dodd & Co More Handles Limited

Our marketing and Communication team will continue to raise the profile of the charity and look for new opportunities such as the use of QR codes for donations. The use of our website and social media provides information with regards to the valuable clinical work we provide and also market events. The website also provides an opportunity for service user feedback which supports improving the quality of the care we give and we aim to actively seek more feedback in the coming year from several different avenues.

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Fundraising

The charity is registered with the Fundraising regulator, the voluntary independent regulator of charitable fundraising in the UK. Hospice at Home follow their code of practice which ensures that fundraising is respectful, open, honest and accountable to the public. The charity will continue to adhere to all regulations governing fundraising and follow any best practice guidelines that are issued to ensure positive relations are maintained with the generous local people who support the cause.

The fundraising department always aims for the highest standards in fundraising and organise an annual plan which aims to meet the expenditure requirements within the financial plan.

Financial review

The accounts show net deficit for the year of £94,708 before taking in to account the loss on investment. After accounting for the loss on investment in the year, the net movement in funds was a deficit of £159,022. The results for the previous year showed a surplus of £727,029 and after the gain on the investment the surplus was £747,373.

Income levels decreased in the current year and this included a reduction in support from Hospice UK following the Covid pandemic and other income including legacies also decreased. Expenditure levels were higher in the year ended 31 March 2023 than the previous year with costs being closely monitored.

Policy on reserves

As at 31 March 2023, the charity held total reserves of £2,989,194 which included restricted funds of £5,000 and unrestricted funds of £2,984,194.

The restricted fund consisted of funding received from Screwfix which had not been spent in the year but will be spent post year end on the respite project. The unrestricted fund includes fixed assets of £9,164 leaving free reserves of £2,975,030.

The Trustees have determined free reserves should be at least equivalent to the greater of 6 months budgeted costs or the potential close down costs. This has been calculated to be almost £900,000. An equivalent sum should be kept in cash reserves separate from other funds and reviewed annually once a new budget has been approved by the Trustees at the accounting date. Reserves exceeded this criteria at the year end however there is expenditure budgeted for the next year as part of the development strategy of the charity which will reduce the reserves. Funds required for the day to day running costs, based on the annual budget, should be kept in the company's bank current account and any instant access account with an institution governed by the financial services compensation scheme (F.S.C.S).

Any other funds not required for the day to day running costs are to be invested in individual UK based institutions covered by the F.S.C.S. or into funds managed on an advisory basis by Arc Eden. The criteria we use to invest in are medium risk investments. There was a loss on the investments in the year ended 31 March 2023 of £64,314 (2022: gain of £20,344). Transfers out of managed funds can be made by the Finance and Income Generation Committee but further investments into managed funds are by recommendation of the Finance and Income Generation Committee to the Board.

Principal funding sources

The Charity received financial support from the Clinical Commissioning Group (CCG) devolved from the NHS in the year. This contribution to costs gives confidence against a background of the very welcome voluntary support. The charity is profoundly grateful to all in the community for the excellent support received.

Another form of funding are legacies which the charity receives from supporters, although this source of income is not guaranteed.

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Major risks and management of those risks

Risk management

The Trustees have assessed the major risks to which the Company is exposed, including in particular those related to the operations and finance of the Company. This is done through a Corporate Risk Register on a bi-monthly basis. Trustees are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Financial Instruments

Objectives and policies

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in interest rates.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international creditrating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term cash deposits.

Plans for future periods

Hospice at Home have developed a three-year- Strategy (April 2021 - March 2024) outlining four commitments, those of Holistic Exemplary Care, Sustainability, Engaging with Stakeholders and Preparing for Future Needs all of which are underpinned by specific priorities.

The annual business plan (April 2023 – March 2024) identifies the key actions that are required to achieve the priorities within year and over the timescale of the Strategy.

Structure, governance and management

Nature of governing document

The Company is constituted under a Memorandum of Association dated 1 April 2003 and is a registered charity, number 1095708. The principle object of the Company is to provide palliative and supportive care to persons suffering from any terminal illness in their own home.

The Directors of the Company are also Charity Trustees for the purpose of Charity Law and in the Company's Articles of Association are described as Trustees.

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

The trustees who served during the year were:

Mrs S Black Mr D Claxton Mr M K Clementson Mr K Coulthard (Appointed 8 December 2022) Mrs M A Drury Dr H A Dunning Mrs M Gray Mrs J S Lamb (Appointed 8 December 2022) Mrs E A McColgan (Resigned 21 October 2022) Prof S Reveley Mrs D J Shearer (Appointed 8 December 2022) Mrs D Slater (Resigned 21 October 2022) Rev D C Wood

Recruitment and appointment of trustees

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. The maximum number of Trustees is 15 and the minimum is 3. At each annual general meeting one third of the Trustees for the time being or, if their number is not 3 or a multiple of 3, then the number nearest one third, shall retire from office. The Trustees to retire are those who have been longest in office since their last election.

A review of the Trustees' skills is carried out regularly and where a skill is not represented on the Board potential appointees are either approached to offer themselves for election or advertisements are placed in local newspapers and on the Charity website.

Decisions regarding the management of the Charity are taken at Board meetings which are held every 2 months. There are 4 sub-groups which report to the Board and these are Clinical Assurance, Workforce, Health & Safety and Finance and Income Generation.

The Company Secretary and Chief Executive Officer attend Board meetings but neither has a vote. The Chief Executive Officer takes overall responsibility for leadership of the Charity.

Induction and training of trustees

New Trustees attend a briefing session with the Chair and other officers which covers the aims of the Charity, Trustees' duties, the Charity constitution and financial position. It is enhanced by an induction manual produced by Hospice UK. Trustees attend training events as required and support can be accessed via Cumbria Council for Voluntary Services.

Arrangements for setting key management personnel remuneration

The policy for care staff is based on the remuneration of similar employees in the NHS using pre 18-19 NHS pay scales and inflated with costs of living increases. The policy for fundraising, office and administration staff is based on National Joint Council pay scales which are local government pay scales used in the voluntary sector.

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Statement of trustees' responsibilities

The trustees, who are also the directors of Hospice at Home Carlisle and North Lakeland for the purpose 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).

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

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

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

Small Company Provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' report was approved by the Board of Trustees.

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

Mr M K Clementson Trustee

Date: 12 October 2023

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

Rev D C Wood Trustee

Date: 12 October 2023

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

Opinion

We have audited the financial statements of Hospice at Home Carlisle and North Lakeland (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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.

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

Use of our report

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

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

Stuart Farrer (Senior Statutory Auditor) for and on behalf of Saint & Co.

.16 October 2023

Chartered Accountants & Statutory Auditor

Sterling House Wavell Drive Rosehill Carlisle CA1 2SA

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Current financial year
Unrestricted
funds
2023
Notes
£
Income from:
Donations and legacies
3
746,477
Charitable activities
4
373,328
Fundraising trading
5
514,887
Investment income
6
11,814
Total income
1,646,506
Expenditure on:
Raising funds
Fundraising
7
275,825
Trading
7
221,385
Charitable activities
8
1,249,004
Total expenditure
1,746,214
Net gains/(losses) on investments
14
(64,314)
Net (outgoing)/incoming resources before
transfers
(164,022)
Gross transfers between funds
325
Net movement in funds
(163,697)
Fund balances at 1 April 2022
3,147,891
Fund balances at 31 March 2023
2,984,194		 Restricted
Endowment
funds
funds
2023
2023
£
£
33,282
-
-
-
-
-
-
-
33,282
-
-
-
-
-
28,282
-
28,282
-
-
-
5,000
-
-
(325)
5,000
(325)
-
325
5,000
-		 Total
2023
£
779,759
373,328
514,887
11,814
1,679,788
275,825
221,385
1,277,286
1,774,496
(64,314)
(159,022)
-
(159,022)
3,148,216
2,989,194		 Total
2022
£
1,316,176
360,066
437,750
7,837
2,121,829
223,402
183,557
987,841
1,394,800
20,344
747,373
-
747,373
2,400,843
3,148,216

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on pages 16 to 32 form part of these financial statements.

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Prior financial year
Unrestricted
funds
2022
Notes
£
Income from:
Donations and legacies
3
1,011,294
Charitable activities
4
360,066
Fundraising trading
5
437,750
Investment income
6
7,837
Total income
1,816,947
Expenditure on:
Raising funds
Fundraising
7
223,402
Trading
7
183,557
406,959
Charitable activities
8
682,959
Total expenditure
1,089,918
Net gains/(losses) on investments
14
20,344
Net (outgoing)/incoming resources before transfers
747,373
Net movement in funds
747,373
Fund balances at 1 April 2021
2,400,518
Fund balances at 31 March 2022
3,147,891		 Restricted
Endowment
funds
funds
2022
2022
£
£
304,882
-
-
-
-
-
-
-
304,882
-
-
-
-
-
-
-
304,882
-
304,882
-
-
-
-
-
-
-
-
325
-
325		 Total
2022
£
1,316,176
360,066
437,750
7,837
2,121,829
223,402
183,557
406,959
987,841
1,394,800
20,344
747,373
747,373
2,400,843
3,148,216

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
16
Investments
17
Current assets
Stocks
18
Debtors
19
Cash at bank and in hand
Creditors: amounts falling due within one
year
20
Net current assets
Total assets less current liabilities
Capital funds
Endowment funds - general
23
Income funds
Restricted funds
24
Unrestricted funds		 2023
£
4,749
331,129
1,453,276
1,789,154
(134,369)		 £
9,164
1,325,245
1,334,409
1,654,785
2,989,194
-
5,000
2,984,194
2,989,194		 2022
£
2,021
437,667
1,789,810
2,229,498
(85,681)		 £
14,840
989,559
1,004,399
2,143,817
3,148,216
325
-
3,147,891
3,148,216

The notes on pages 16 to 32 form part of these financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 12 October 2023

.............................. .............................. Mr M K Clementson Rev D C Wood Trustee Trustee

Mr M K Clementson Trustee Company registration number 04609579

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash flows from operating activities
Cash generated from operations
28
Investing activities
Purchase of tangible fixed assets
Purchase of investments
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(1,258)
(400,000)
11,814		 £
52,910
(389,444)
-
(336,534)
1,789,810
1,453,276		 2022
£
(4,010)
(500,000)
7,837		 £
503,926
(496,173)
-
7,753
1,782,057
1,789,810

The notes on pages 16 to 32 form part of these financial statements.

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Hospice at Home Carlisle and North Lakeland is a private company limited by guarantee incorporated in England and Wales. The registered office is Valley Court, Barras Lane Estate, Dalston, Carlisle, CA5 7NY.

The charity is limited by guarantee and consequently does not have share capital. Each of the members are liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

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

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

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

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Grants are recognised when the charity 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.

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Income from fundraising events undertaken in the year is recognised when there is evidence of entitlement, receipt is probable and its amount can be measured reliably

Investment income from interest on deposit funds held is included when receivable and the amount can be measured reliably by the charity which is normally upon notification of the interest paid or payable by the bank.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

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

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.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

1.6 Tangible fixed assets

Individual fixed assets costing £1,000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Leasehold improvements 20% straight line Office equipment 25% straight line Motor vehicles 20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

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

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.8 Impairment of fixed assets

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

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11 Financial instruments

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

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

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

Basic financial assets

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

Basic financial liabilities

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

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

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

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Derecognition of financial liabilities

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

1.12 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.

1.13 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

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

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

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

3 Donations and legacies

Unrestricted
funds
2023
£
Donations and gifts
409,844
Legacies receivable
274,122
Grants
39,667
Other
22,844
746,477
Donations and gifts
In memorium
101,532
Personal
132,423
Organisations
69,733
Fundraising events
106,156
409,844
Grants receivable for core activities
Grants
39,667
Hospice UK
-
39,667		 Restricted
funds
2023
£
-
-
33,282
-
33,282
-
-
-
-
-
27,500
5,782
33,282		 Total
Unrestricted
funds
2023
2022
£
£
409,844
402,651
274,122
495,490
72,949
98,451
22,844
14,702
779,759
1,011,294
101,532
106,012
132,423
98,285
69,733
59,682
106,156
138,672
409,844
402,651
67,167
98,451
5,782
-
72,949
98,451		 Restricted
funds
2022
£
-
-
304,882
-
304,882
-
-
-
-
-
-
304,882
304,882		 Total
2022
£
402,651
495,490
403,333
14,702
1,316,176
106,012
98,285
59,682
138,672
402,651
98,451
304,882
403,333

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

4 Charitable activities

Provision of Provision of
care care
2023 2022
£ £
CCG Grant 373,328 360,066

5 Fundraising trading

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Other sales 20,403 43,338
Car leasing contributions 5,806 15,161
Fundraising events 127,918 95,197
Shop income 360,760 284,054
Fundraising trading 514,887 437,750
6 Investment income
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 11,814 7,837

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

7 Raising funds

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Fundraising
Governance costs 14,109 -
Premises costs - 20,304
Other fundraising costs 18,040 38,655
Staff costs 155,220 159,359
Depreciation and impairment - 5,084
Support costs 88,456 -
Fundraising 275,825 223,402
Trading
Shop running costs 83,454 51,279
Other trading costs - 12,792
Staff costs 116,981 117,424
Depreciation and impairment - 2,062
Support costs 20,950 -
Trading 221,385 183,557
497,210 406,959

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

8 Charitable activities

Provision of Provision of
care care
2023 2022
£ £
Staff costs 991,215 822,182
Nursing expenditure 37,623 77,485
Volunteer expenses 4,665 1,925
1,033,503 901,592
Share of support costs (see note 9) 162,365 70,258
Share of governance costs (see note 9) 81,418 15,991
1,277,286 987,841
Analysis by fund
Unrestricted funds 1,249,004 682,959
Restricted funds 28,282 304,882
1,277,286 987,841

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

9 Support costs

Support costs
Governance
costs
£
£
Staff costs
144,621
33,631
Depreciation
6,934
-
Insurance
11,380
1,206
Premises costs
49,271
-
Printing, postage and
stationery
14,738
-
Equipment maintenance
14,350
1,361
Newsletter
8,090
-
Telephone
5,693
-
Publicity
4,168
-
Subscriptions
480
-
HR
7,856
651
Sundry
4,190
-
Audit fees
-
4,075
Accountancy
-
1,740
Legal and professional
-
52,040
Trustee expenses
-
823
271,771
95,527
Analysed between
Fundraising
88,456
14,109
Trading
20,950
-
Charitable activities
162,365
81,418
271,771
95,527		 2023 Support costs
Governance
costs
£
£
£
178,252
38,436
-
6,934
3,631
-
12,586
-
-
49,271
4,365
-
14,738
8,877
-
15,711
6,409
-
8,090
5,323
-
5,693
1,394
-
4,168
753
-
480
570
-
8,507
500
-
4,190
-
-
4,075
-
4,500
1,740
-
2,000
52,040
-
9,491
823
-
-
367,298
70,258
15,991
102,565
-
-
20,950
-
-
243,783
70,258
15,991
367,298
70,258
15,991		 2022
£
38,436
3,631
-
4,365
8,877
6,409
5,323
1,394
753
570
500
-
4,500
2,000
9,491
-
86,249
-
-
86,249
86,249

10 Net movement in funds
Net movement in funds 2023 2022
£ £
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets 6,934 10,777
Operating lease charges 98,676 78,072

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

11 Auditor's remuneration

Fees payable to the charity's auditor and associates:
Audit of the charity's annual accounts
Non-audit services
All other non-audit services		 2023
£
4,075
1,740		 2022
£
4,500
2,000

12 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

During the year £809 (2022: £288) was paid to 1 trustee (2022: 2) for reimbursement of travel costs.

13 Employees

The average monthly number of employees during the year was:

Fundraising staff
Clinical staff
Trading staff
Housekeeping staff
Office staff
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
6
39
10
1
6
62
2023
£
1,276,464
97,547
67,053
1,441,064		 2022
Number
9
42
12
1
-
64
2022
£
999,678
71,958
65,765
1,137,401

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

13 Employees

(Continued)

The number of employees whose annual remuneration was more than £60,000 is as follows:

follows:
2023 2022
Number Number
£60,001 - £70,000 1 -

14 Net gains/(losses) on investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Revaluation of investments (64,314) 20,344

15 Taxation

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

16 Tangible fixed assets

Leasehold
improvements
Office
equipment
Motor vehicles
£
£
£
Cost
At 1 April 2022
71,863
59,876
11,998
Additions
-
1,258
-
At 31 March 2023
71,863
61,134
11,998
Depreciation and impairment
At 1 April 2022
70,175
52,763
5,959
Depreciation charged in the year
844
4,882
1,208
At 31 March 2023
71,019
57,645
7,167
Carrying amount
At 31 March 2023
844
3,489
4,831
At 31 March 2022
1,688
7,113
6,039		 Total
£
143,737
1,258
144,995
128,897
6,934
135,831
9,164
14,840

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

17 Fixed asset investments

Cost or valuation
At 1 April 2022
Additions
Valuation changes
At 31 March 2023
Carrying amount
At 31 March 2023
At 31 March 2022
18
Stocks
Raw materials and consumables
19
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
20
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
21
Trade creditors
Other creditors
Accruals		 Listed securities
£
989,559
400,000
(64,314)
1,325,245
1,325,245
989,559
2023
2022
£
£
4,749
2,021
2023
2022
£
£
20,219
2,125
8,552
22,269
302,358
413,273
331,129
437,667
2023
2022
£
£
1,317
17,115
600
1,000
29,827
4,195
21,068
26,828
81,557
36,543
134,369
85,681

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

21 Deferred income

2023 2022
£ £
Other deferred income 600 1,000
Deferred income is included in the financial statements as follows:
2023 2022
£ £
Deferred income is included within:
Current liabilities 600 1,000
Movements in the year:
Deferred income at 1 April 2022 1,000 6,370
Released from previous periods (1,000) (6,370)
Resources deferred in the year 600 1,000
Deferred income at 31 March 2023 600 1,000

Deferred income relates to ticket sales for the Spring Raffle which will be drawn post year end.

22 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees as well as contributing to the NHS pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £64,231 (2022 - £65,765).

Contributions amounting to £10,275 (2022: £7,849) were payable to the scheme at balance sheet date and are included within other creditors.

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

23 Endowment funds

Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Movement in
funds
Balance at
1 April 2021
Incoming
resources
Balance at
1 April 2022
£
£
£
Permanent endowments
Permanent Endowment
325
-
325
325
-
325		 Transfers
Balance at
31 March 2023
£
£
(325)
-
(325)
-		 Transfers
Balance at
31 March 2023
£
£
(325)
-
(325)
-
-

24 Restricted funds

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

Movement in funds Movement in funds Movement in funds Movement in funds
Incoming Resources Balance at Incoming Resources Balance at
resources expended 1 April 2022 resources expended 31 March 2023
£ £ £ £ £ £
Hospice UK 304,882 (304,882) - 5,782 (5,782) -
Mulberry Trust - - - 20,000 (20,000) -
Screwfix - - - 5,000 - 5,000
Hospice Aid UK - - - 2,500 (2,500) -
304,882 (304,882) - 33,282 (28,282) 5,000

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

25 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
2023
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
9,164
Investments
1,325,245
Current assets/(liabilities)
1,649,785
2,984,194		 Restricted
funds
Endowment
funds
2023
2023
£
£
-
-
-
-
5,000
-
5,000
-		 Total
Unrestricted
funds
2023
2022
£
£
9,164
14,840
1,325,245
989,559
1,654,785
2,143,492
2,989,194
3,147,891		 Restricted
funds
Endowment
funds
2022
2022
£
£
-
-
-
-
-
325
-
325		 Total
2022
£
14,840
989,559
2,143,817
3,148,216

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

26 Operating lease commitments

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

Within one year
Between two and five years		 2023
£
67,753
41,560
109,313		 2022
£
98,676
107,600
206,276

Operating lease payments represent rentals payable by the charity for its properties, equipment and vehicles.

27 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023 2022
£ £
Aggregate compensation 266,180 200,421

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Trustee indemnity insurance amounting to £500 (2022: £500) was paid by the charity during the year.

HOSPICE AT HOME CARLISLE AND NORTH LAKELAND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

28 Cash generated from operations 2023 2022
£ £
(Deficit)/surplus for the year (159,022) 747,373
Adjustments for:
Investment income recognised in statement of financial activities (11,814) (7,837)
Fair value gains and losses on investments 64,314 (20,344)
Depreciation and impairment of tangible fixed assets 6,934 10,777
Movements in working capital:
(Increase)/decrease in stocks (2,728) 206
Decrease/(increase) in debtors 106,538 (230,173)
Increase in creditors 49,088 9,294
(Decrease) in deferred income (400) (5,370)
Cash generated from operations 52,910 503,926

29 Analysis of changes in net funds The charity had no debt during the year.