TgAamos 4wspi ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022 Registered Company No: 5316964 Re8isteTed Charity No. 1108298 The Queen s Award forvoluntary Service
About Thames Hospice Contents At Thames Hospice we believe in quality of life, to the end of life for everyone. Trustees. report 1-22 Independent Auditors. report 23-26 Proudly setving our community for more than 30 year5. we offer world-class palliative and end-of- life care and support to people aged 16 years and over across East Berkshire and South Buckinghamshire. Consolidated Statement of Financial Activities 27 Balance Sheets 28 Cash flow statement 29 We provide expert nursing and medical care along wilh a wide range of therapies to support our patients. physical, psychological. social and spiritual needs. Our care and support extends to family, friends and carer5. Notes to the financial statements 30-46 Administrative details 47-48 Our services are free of charge to all who need us. thanks to the genefosity of our amazing ommunity and organisations. as well as our 7C(I incredible volunteers who give their time to support the best possible end-of-life care for local people. As a registered charity we rely on charitable support for over 50% ofthe funds we need annually to provide our Services free of charge. 365 days a year, to the people who need us most.
Introdurtion from our Chief Executive and Chair of Trustees Debbie Raven Chief Executive Jonathan Jones Chair of Trustees On behalf of everyone at Thames Hospice. we're delighted to introduce the annual report for 2021122. This wa5 the year we hoped to be coming out of the pandemic, bLAt it reared its head again in the winter and yet again we had to cancel many of our events. Despite this. we've seen incredible performance across all areas of the organisation and we're extremely proud of our results, our people and our volunteers. Collectively. with the support of our community, we've consistently displayed our values: Compassion. Ambition, Respect and Excellence. in continuing to deliver our vision throughout the pandemic and emerged a stron8er, more resilient organisation. Having settled into our new hospice at Bray. we've really utilised our magnificent facilities. Our In Patient Unit has been busier than ever before. running at times over 90% occupancy against a national average of 65% and our community team has seen increased activity too. In addition. we've launched two new services thi5 year: Co-connect and Thames Care at Home. Co-connect is a counselling seNice aimed at supporting people who've experienced a loss through Covid-19 and Thames Care at Home is our first foray inlo running a care agency. 80th seryices have been extremely successful since inception and will become part of our future core service offering. Alongside all of this, we were awarded an -OutstandinE" by the Care Quality Commission in October in recognition of the high quality care we deliver. Our patient satisfaction results have also been exceptional following independent assessment. Looking forwards in the Services we deliver. we will be launching a Virtual Palliative Care Ward in the Autumn which will enable us to care for more acutely unwell people in their own homes rather than them going into hospital. The needs of our community are ever changing and we are committed to being agile in our response to rising demand. Our support from the NHS and our community remains strong and it Is because of these collaborative relationships that we have achieved such strong financial result5 this year and ensured that we start 2022123 with the ability to deliver our much needed care. We eventually held our strategy day with the Senior Leadership Team in September and launched our new 3-year strategy, focusing on providin8 SUPPOrt to more people in the community we serve
and enhancing our sustainability both financialty and from a SOurCe perspectNe. especially in the area of recruitment and retention. We are commilted to ensuring that our wonderful chaflty is here for generations to come and we know that the actions we take now wi51 have a direct impact on this ambition. Finally, we have some key changes in our Board this coming year, having said goodbye to three of our trustees. Steve Moore, Margaret Neale and Jacinta Ashworth last year. Jonathan Jones. our Chair will be stepping down in September after 10 years as a Trustee and Chris Aitken, our current Vice Chaif WFII be taking up the rein5. Jonathan has been an exceptional Chair and support to the organisation and especially the CEO and will be sorety missed but Chris is well prepared and able to lead us to the next sta8e of our journey Thank you for reading this report- if you have any questions please don't hesitate to contact CEO, Debbie Raven Idebbie.raven Ihameshos ice.or or our Finance Director, Tracey Talbot Iirèce .ialbol thameshos ice.or Jonathan Jones Ichairl and Debbie Raven (CEO) Jonathan Jones- Chair Debbie Raven-CEO
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 Our Vision and Values Our vision is quality of life to the end of life for everyone Our Values We exist to provide and support the best palliative and end-of-life care services. giving dignity and comfort to those facing a terminal illness. Our values are who we are. the e55ence of our culture and inspiration for our behaviour. Compassion Ambition Respect Excellence Thank you We are deeply indebted to all of our donors and supporters. without whom we could not continue providing the services we do. We are very grateful for the continued supportofthe communitywho have helped the hospice in so many ways whether through donations, attending virtual events. 8ifts for the staff and so much more. especially during what has been another challenging year.
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 What we do with our mone Where our funds comes from Our NHS commissioners provide us with funding for around a half of our patient related costs, the remainder being met through our Fundraising and Retail activities and our investment income. This year we have a8ain been fortunate to receive support from central and local government to help us through the continued Covid-19 crisi5. We received NHS funds negotiated and distributed by our umbrella body H05pice UK. we received Job Retention Scheme payments for our furloughed employees from HMRC and we applied for and received local authority grants to assist with the re-opening our network of charity shops midway through April 2021 after having been closed again due to lockdown restrictior15. All of this enabled us to keep our usual services going whilst also providing support to our local NHS during the crisis and also keeping jobs for our valuable staff. ÉO.Im- Inweslmwt. educatlon & vlher In<ome £l.1m-CovJ.19 suppNt¥la NH5 -17 £4.4m- I0[ from RetaH shops & cafe1r local_ £0.7m- Lèga<les £3.Om-salÈ ol Plne Ic4J8e{preO5 ho$tsIttI Where our funds go It cost £13.5m to run Thames Hospice in 2021-22. which is detailed out in our full financial review starting on. Please also review to our full financial review starting on page 28 Ra151ryfwth- 2m £44m E3.8m (Mrtpatknts& CommuiMtyC*e-
THAMES HOSPICE TRUSTEES. REPORT for the year ended 31 March 2022 Our Strate ic Ambitions for 2021-22 and how we have met them Our Three YearStn>tegy. Implemented in 2021/21 stotes ourstrotegic oims." To enable the wider delivery of excellent palliat¢ve and end of life care in all settings to all those in need To partner our bud8et holders. providing reliable financial and fiscal control to enable the orEanisation to achieve its strategic ambitions To be the coMmunitS charity of choice. while we grow income through and beyond philanthropy to deliver our mission. To recruit. engage and develop our people with an inclusive and diverse culture. living our values This year, despite the contrnuing Covid-19 situation. we managed to continue our provision averaging 90% occupancy on our in-patient unit. We modernised our Day Therapies and joined it up with our Community Team to create a modernised Living Well service. With the sUPPOrt of our local East Berkshire Clinical Commissioning Groups ICCGS) we have reduced the age range of patients who can access our seNices, opening our doors to patients from the age of 16 years and upwards and also launched our Thame5 Care at Home domiciliary care service. At the start of the Covid-19 pandemic some of our services were adapted to support our community. in particular our counselling services which were provided additionally online or by telephone. We have continued with these adaptations. as we have found they have been well received by our patients and their loved ones. Referrals for our Services are accepted from a variety of sources and our patient SeiCe5 are allocated accordin8 to clinical need. Care is delivered in the following ways: 28 bedded Inpaiient Unit IIPU) at Thames Hospice in Bray. Day Therapy Unit for both outpatients and inpatients- we have increased our provision of day seNices now that we are at our new Bray site and we are open for five days each week. Physiotherapy, occupational therapy and lymphoedema treatments. In patients. homes and also via 24-hour telephone support through our Palliative Care Response Team. Counselling, psychological and spiritual support to patients and their loved ones.
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 Impact statement Given the on-going dual challenges of an ageing population with increasingly complex conditions, combined with the pressures on our NHS the need for our seNices has continued to be as acute as ever. Our community continued to face challenges due to the continuation of Covid-19 and the constant pressures on the NHS and the wider care sector created needs in the community that Thames Hospice were able to respond to. We are proud of our contribution and our ability to work in an agile way to support our NHS partners: this has been recognised by them at a local and national level. On moving into our new facility in Bray in October 2020 we were initially unable to open all of our seIces. However from April 2021 we have been fully operational and have continued to expand our seNice5 to the community. Our impact on the local community through the services we provide is unquestionable and we are incredibly proud to be able to offer greater levels of support to more people in need from our new site at Bray. The impact and public benefit of Thames Hospice is clearly evidenced through the number5 of people we help at no charge to the patients and the feedback we receive from both patients and their loved ones. During 2021122 we admitted 41112021: 3541 patients to our inpatient unit which ran at an average occupancy level of 90%12021: 85%). Also this year our Palliative Care Response team made 3.864 vi51ts in the community 12021- 3,9961 and delNered 16.34912021- 10,1931 sessions and appointments for day therapies, counselling and other complementary therapies to patients and their loved ones. The increase and improvement of all of our services is impacting the local community in a very positive way and enables us to keep providing support to patients plus their families and loved ones. The improved funding of those services through our CCGS is also helping us to secure a sustainable future for the Hospice.
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 Key achievements in 2021122 This year Thames Hospice continued to deliver exceptional clinical services to the community maintaining the high an occupancy rate on our IPU that was higher than that of the previous year. Feedback has again been consistently positive and complimentary. demonstrating our ability to deliver our outstanding standard of care. Our three strategy was implemented during this financial year and includes the ambitions that we will continue to expand our service5 and be the communivs charity of choice. We have already taken great strides in working towards this whilst also ensuring we continue to meet our vision of providing quality of life to the end of life for everyone. How we have started to meet our strategic ambitions is detailed below: As we went into the 2021-22 financial year we hoped that we were coming out of the Covid-19 pandemic. however durin8 the winter months cases rose again and once more we were faced with the challenges that that brings. Despite these challenges our hospice provision continued and across the year we averaged an occupancy of 90% on our in-patient unit. which was higher than the previous year. In order to ensure our Day Therapies were being accessed by all people within our community who needed them and with an aim of removing waiting lists. the service was moderni5ed to become a Living Well & therapie5 service. This has meant that our day therapies. complementary therapies and community team are now working in conjunciion with each other and on referral to us a patient has an initial assessment carried out at the hospice by one of our Community Clinical Specialists. Patients then have acce55 to a supportive six-week rolling wellbein8 programme offering both practical advice on managing financial matters, as well as information on managing symptoms and nutrition and diet to help them manage and adapt to the challenges of living with a life-limiting condition. Alongside this, patients are also able to access a range of services tailored to their needs such as complementary therapyi physio and counselling 5UPPOrt.
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 Oue to the increased demand for our service5 and in working to support our local East Berkshire CCGS we reduced the age range of patients that could access our services to 16 years of age. This h35 meant that we have been able to care for youn8 adults both within their homes and on our in-patient unit. Many people lost loved ones during the Covid-19 pandemic and as a result of restrictions during that time it sadly meant that their bereavement was adversely impacted. Thanks to a generous grant from the National Lottery we have been able to launch our Co-connect service. This service allows us to provide counselling support to over 18,5 Wlthin our communitywho may have lost a loved one since January 2020, but have been unable to grieve for them in the nomial way. This service has been incdiblY well received by our community, which is evidenced by the overwhelming response we have received. With the constant demand for yjcial care and our own challenge5 in procuring social care packages for OLtr own patients who wished to go home. in January 2022 we launched our own domiciliary care seivice, Thame5 Care at Home. This setvice has been partly commissioned by our local East Berkshire CCG and has meant that we have been able to provide high quality social care package5 for patients in the last 6 weeks of their lives. service users come from both patients on our own in-patient unit that wish to be cared for in Iheir own home5 and patients from local hospitals covered by East Berkshire CCG who are able to be discharged. Setting up Thame5 Care at Home has meant that we have been able 10 SUPPOrt our local NHS partners with freeing up beds in hospitals. Cash management of the h05pice has femained a Pfiority. as we have Settled into our new site at Bray. Working with the rest of the organisation it has been important to ensure that costs are controlled along with making sure funds are available to meet operational needs and pay contractor retentions as we got to the end of the snagging and defects period. We have successfully navigated our way throuEh the year ensuring that operational needs were met and there are sufficient funds to pay final retention monie5. As part ofour aim to become the communivs charityofchoice our retail team have worked hard on promoting our hospice café being deterniined to make it the "go to" place in the community. This ha5 meant that not only have we been able to grow our income in a way that will hopefully provide a 5UStainable income stream for the future, but also welcome members of the community into the café that may not have had prior affiliations with the Hospice. All of this has strengihened our presence within the local community and helped to breakdown some of the myths around hospices and whattheydo.
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 Key objectives for 2022123 In July 2021 our new Three Year Strategy was agreed to cover 2021-2024 and has been used to guide our work sÉnce October 2021. This is the collaborative work of our Senior Leadership Team. Thames Hospice colleagues, Partners and our service users. We believe this strategy clearly defines our ambitions for the next three years and represents us, our vision. mission and values which underpin everything we do. Our previous five year strategy12016-20211 focussed on our physical expansion and growth. The end result of this was the opening of our new 28 bed Hospice in October 2021. Our new strategy now looks forward to ensure that we make optimal use of the in¢Tedible new facilities that we have to benefit our Community now and into the future. We would highlight the following as being our main objectives for the new financial year- To develop a nationally and locally renowned education and research faculty in both palliative and end-of- life care. To wrap the delivery of care and support around the patient and those dear to them in their preferred place of care. To use evidence to reach people earlier in their disease trajectory and those in overlooked groups. To understand the new NHS landscape to enable agility in providing financial information to support the delivery of services To monitor cash flow as we come out of the Covid pandemic and establish the cost base for our Bray 51te. To recruit, develop and retain the right people at the fight time in accordance with our values. To increase repeat giving and shopping to increase sustainable core income. To create more commercially focused products to raise sustainable income. To implement our digital roadmap plan across the orEanisation.
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 sociated rlsk We identify and monitor risk through our risk management proce5515ee page 151. Our annual setting of objectives and operating plan inform the process enabling us to identify the major risks associated with our current and future work programme. The above ambitions and opportunities all have associated risks. the most significant of which are: Afurther wove of the Covid-19 virus moy impede the development of services. This is an unknown which cannot be avoided; however. we have been here before now and would be able to manage the issues effectNely. Continuation of unprecedentedpre55rJre on our services and orcuponcy levels muy impede the development of services ond have an adverse effert on staff wellbeing. We believe that as an indirect consequence of the Covid pandemic people have not been able to access urgent treatments in the last 18 months. resultin8 in an increased demand for ovr services and end-of-life care. We do not know how long this will continue for. but as we have been meeting the demand up to now we would be able to manage the issues. We will continue to support our people's mental and physical wellbeing through engagement initiatives. Ability to achievefunding leve15 required to expond Gnd develop services. Around 50% ofourfunding comesfrom the NHS and the remaindercomes from our8enerous supporter5. As we expand and develop ourservices we are looking to ourcornmunity to support those who need our care. We hope that through our detemiination and work to make our hospice the cornmunivs charity of choice we will be able to navigate this.
THAMES HOSPICE TRUSTEES. REPORT for the year ended 31 March 2022 Financial Review Review of the yeor2021/22 Despite another year with some challenges. performance this year with regard to our financial position on the general fund 15 very positive with a surplus of £4.675k12021= surplus £985kl- We have made an overall surplus on the SOFA Istatement of Financial Activities. see page 351 in the year of £4,995k12021- £1,987kl including restricted fund income. Below we look at each SOFA line and review the results. Roising Funds.. Donotions ond Legocies We are, as always indebted to our generous donor5 and sUPPOrters for their continued commitment to the hospice. Without them, we simply could not continue to provide the care our patients and their loved ones need without charge. This year wilh the continuing challenges of Covid-191 particularly during the winter months, donations and legacies income overall decreased to £4,219k from E4.423k. However. a5 Covid-19 restrictions were slowly withdrawn and people could start getting together again we started to see an increase in donation5 from our fundraising groups generating £79k12021- £28kl. In Memory increased again this year. but we also saw increases in our Committed Giving income too. Both are due largely to the continuation of our heightened service presence in the community bringing in £611k12021'. £456kl. It also includes E15k of income from the Covid-19 Job Retention Scheme IJRSI set up by the Government to fund 80% of salaries for staff whom we have had to place on furloiJgh12021: E545kl. The relates to staff from our retail division, furloughed due to our shops being unable to open until the end of April 2021. The total legacy income at £718k was all credited to revenue funding {2021: £620kl. Raising Funds.. Charitable Artivitie5 Our charitable activities income has increased in comparison to last year totalling £7.221k {2021: £5,886kl- The income is received largely from the East Berkshire CCGS. Our core grant has increased to reflect the increase of our ServIS resulting from the move to Bray. We have also seen an increase in our catering income due to our café, Cafe By The Lake, located at the hospice site. Our café serves not only our staff, patients and their loved ones, but also serves our local community. Once we were able to re-open our doors fully. our Retail team worked hard on making Cafe by The Lake the "go to" place in the community. This is reflected in the increased revenue of £206k 12021.. E39kl.
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 This year also includes £1,178k of Hospice UK grant income12021- £1,659k). Thi5 income was provided by the Government, but distributed by Hospice UK and was to enable hospices to continue caring for patients and respond to the Covid-19 emergency. •" Roising Funds.- Other Troding Artivities This category of income had an incredibly positNe increase thi5 year to £4,CKJ4k12021= £2,631kl. From a fundraising point of view this was largely due to ovr lottery which generated £777k versu5 last yearfs total of £584k. The retail division re-opened their shop doors towards the end of April and from there on in saw an unprecedented performance brinEing in £2.995k this year versus £1.259k in 2020121. We are extremely indebted to everyone who showed their support to the hospice by shopping in our stores. There is also £88k of local authority grants for non-essential retail. received to help Shops re-open and commence trading again. Roising Funds.. Investment and Other Income Investment Income remained stable staying at £93k12021: £93kl- We have been able to Start rebuilding our investment portfolio as a result of the proceed5 received from the sale of our old hospice site. Pine Lodge. io
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 Expenditure.. Roising Funds Direct costs of raising funds have increased to £4,634k this year {2021'. £3.857k}. This is due to several factors: in Fundraising ihis includes the increased costs of being able to run some of our events this year and the promotion of our regular giving. For retail this includes the effect of our shops now being open and trading for the majority of the year. Expenditure.. Choritable Activities Direct cost5 of charitable activities have increased £847k to £5.873k this year12021: £5,026kl. This intrease is as result of having our services fully open and up and runnKng for a full year. That combined with our In-patient unit averaging 90% occupancy for the year has meant an increase in both staff numbers and running costs. Expenditure.. Centrolservices Support Costs Our central support costs increased this year by £646k to £3,012k12021: E2,366kl, again as a result of having our first full year at our Bray site. There was not one individuol reason for the increase. it was the result of small variances across most corporate teams. Investment goins ond losses.- Our investments waned in value over the course of the year ending on a loss of £22k12021- gain of £201kl. Despite being able to slart rebuilding our investment portfolio from the £3m proceeds of the sale of our old site, the value of investments has plummeted due to global events such as war. Investment management fees have remained largely consistent with last year totalling £22k12021= £25kl. The 8olonce Sheet The balance sheet has improved compared to last yearfs figures. The main changes over last yearfs figures are the increase in investments, the removal of the asset held for sale which 15 largely counterbalanced by the increase in cash and the reduction in creditors. li
THAMES HOSPICE TRUSTEES. REPORT for the year ended 31 March 2022 Re5erve5 At the year end the total funds in the group stood at £32.052k (2021= £27,057kl. Of this. restricted funds totalled £332k12021: £340kl and general funds £31.720k12021: £26.717k). There are designated funds of E280k. which relate specifically to costs for running our IPU. We had received funding toward5 this at the end of 2021122 and it was decided by the trustees to designate it for direct patient care costs in 2022-23. ReseNes poliryandgoing concem In order to maintain our level of seNice to our patients and their loved ones. our aim is to achieve sustainable funding for Thames Hospice and to ensure that our reserves give sufficient resilience to allow for fluctuations in income. It is recognised by the trustees that the charity may generate a surplus or deficit in any one year depending on the unpredictable nature of some funding streams and general economic conditions. The trustees have therefore determined to maintain a reserve position that would enable the charity to continue operations during deficit years, and in surplu5 years, invest èdditional funds generated in our investment portfolio. The charity determine5 Its future reserve requirements by producing long term projections of income and expenditure and reviewing the charity risk register on a quarterly basis or whenever a change in operations might necessltate. The trustees have decided to set the level of reserves and within that our free reserves by reviewing these projections and ensuring that potential (leficÈt year5 would be covered. Free resee5 are defined as our total reserve net of restricted funds. fixed assets and any reserves designated for specific purposes by the trustees. Surplus reserves generated are set aside for future projects of a capital or revenue nature. Suth designations for future projects are agreed by the Board prior to the financial year end as required by the Charities Statement of Recommended Practice. The reserves policy is reviewed annually by the Frnance and Investment Committee and any recommendations for change presented to the Board for approval. The Commitlee will review the sufficienty of free reserve at each year end. The trustees have reviewed the policy in place for 2021122 and have determined that it is fit for purpose and that reserves are adequate in accordance with the provisions of the policy. The long term financial projections for the charity show that we would need to ensure we keep approximately 6 months, of expenditure in a free reseThe to cover potential annual deficits caused by income fluctuation. This amount would ensure the sustainability of the charity a5 long a5 there are no rnajor material variances to the forecast expenditure or changes to our major income streams. The reserves may be classified as follows: Total reserves Restricted reserves Fixed Assets Free reseNes 32.0 22.2 The free reserve currently sits above the target of six months, expenditure based on the 2022-23 budget. The sale of Pine Lodge completed on 30 June and we were able to use £2m from the sale proceeds to help replenish our reserve5. The Trustees have reviewed the financial position of the Charity and its subsidiaries. its forecast cash flows and its liquidity position for the foreseeable future. The Truslees believe that the Charity has adequate resources to 12
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 continLte in operational existence for the foreseeable future. As a result, they continue to adopt the Boing concern basis of accountin8 in preparing the annual report and accounts. Investmentpoliry We have continued to tsse Investec Wealth & Investment Limited as our investment manager throughout the financial year. remunerated by a management fee. Investec actwely manage our portfolio in line with the investment policy set by the trustees and report back to the Board on the performance of the portfolio on a quarterly basis. During the year no further drawdowns were required from our investment portfolio as the new hospice build program was completed12021: £0.8ml- Instead £2.5m was re-invested back into the portfolio over the year. Following completion of the new build, the trustees have reviewed our investment policy and have revised the benchmark asset allocation, removing the requirement to keep a low risk portfolio which had been required to safeguard as far as possible the funds for the new build. This review resulted in a series of changes to the policy which were agreed at the meeting of the Board ofTmstees in March 2021. The main changes related to the revised asset allocation and the increased percentage in particular that we would invest in equitie5, both UK and Overseas. The revision puts the hospice into a medium-high risk category according to Investec's own classification but this is solely relating to the amounts of investment classe5 held rather than the nature of them. The Board upheld the decision to retain our exclusions from investment in any tobacco related organisations. At 31 March 2022 the policy benchmark and actual asset allocation stood at: Policy Benchmork Actual at 31 March 2022 Fixed Interest Equities Property Alternatives incl. Infrasiructure Cash 10-30% 70-80% O-i0% o-i0% 8.2% 68% 2.6% 9.8% O-i0% 11.4% The total return perfomiance for the 2021122 year was 3.7% against a benchmark of 8.1% marking that despite starting to re-build our portfolio investment values have gone down over the last 12 months. See also Note 14. The realised and unrealised gains on our investments in the year totalled a loss of £22k12021'. gain of E201kl. Investment income remained stable during the year staying at £93k12021= £93kl. We expect our investment income to remain at a lower value as we reinvest into our portfolio. 13
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 Review of Thames Hospice Retail Limited Thames Hospice Retail Limited is a wholty owned trading subsidiary of Thames Hospice. During the financial year. the company acted as agent for the sale of donated Boods made under the HMRC gift 8id scheme and a variety of new goods were also sold through the company. Sales of our newly expanded range of purchased goods have continued to grow providing the charity with additional income. The compan$ results for the 2021122 financial year show a profit of £58k12021= £2kl. The director5 are comfortable that the Retail Company 15 a going concern. as trading of our new goods within our shops will continue and hopefully grow further. The directors will keep under review the sales and margins generated by the new goods and stock management as transaction volumes increase. Governance, Structure & Management The Chorfty Governance Code The trustees and senior management team of Thames Hospice have adopted the Charity Governance Code as a set of aspirational principles that the charity can work towards as well as ensuring regulatory and legal compliance and satisfying specific targets set by our commissioning bodies. Public Benefit The Board of Trustees is aware of the Charity Commission's Buidance in relation to public benefit. They are satisfied that all of the organisation's charitable activities fall within its objects and result in delivering considerable public benefit. Thi5 report detai15 how our activities have delivered public benefit. 14
THAMES HOSPICE TRUSTEES. REPORT for the year ended 31 March 2022 Risk Management The charity Uses a formal review process to analyse and manage the risks to which the charity is exposed in the course of its activities, both strategic and operational. This is done through a risk register and embedding risk identification into the annual planning process. All significant risks are identified along with the likelihood of such risks occurring and the predicted level of the impact, together with mitigation measures. These are reviewed quarterly by the SMT and Board sub committees with key risks accelerated to the full Board. Risk management and governance within all areas are continually reviewed to ensure that identified risks are addressed and the learning is continuous. During the year the trustees and SMT took part in a risk workshop during which our risk register underwent a full review to ensure it was still fit for purpose and that the key risks were being identified to the trustees. Recruitment andAppointment of Directors ond Trustees of Thames H05pice The trustees of the charity are also directors of the company. Trustees are appointed for an initial period of 4 years; after which they may apply for re-election to serve a second period of 4 years. The second term of appointment may be extended for a further 12 months on an exceptional basis. The trustees appoint a Chair from within their number, who can also see two periods of 4 years with the option for an exceptional extension of 12 months. When a trustee retires every effort is made to replace them with a person of qualities and experience which will be relevant to the requirements of the charity. There is an open recruitment and selection process with trustee vacancies advertised externally as necessary. Potential trustees are interviewed by a Nominations Committee. comprising three trustees including the Chair of the Board but open to all trustees wishing to attend, who consider and recommend applications to the Board for ratification. New trustees are then appointed by a majority decision of the full Board. The Board of Trustees are detailed on page 50. rru5tee Indurtion and TrolnAng Trustees undergo formal induction by spending time in the Hospice on the Inpatient Unit. meeting individually with the Senior Management Team ISMTI and attending meetings of the Committees of the Board. The Board identifies and meets the individual training and development needs of its trustees and ha5 in place a framework for evaluating board performance. Continuing professional development courses for trustees are considered an essential part of the trustee role and, as such. paid for by the h05Pite. The Board seeks at all times to follow best practice in line with the recommendations of the Charity Commission and the Charity Governance Code. Training is provided as required and appropriate to the individual and relevant material made available to the Board as it is published. Trustees, duty to promote the success of the Chority-sertion 172 Statement Trustees have a duty to promote the success of the Charity and. in doing so. are required by section 17211) of the Companies Act 2006 to have regard to various specific factors. Thames Hospice depends on the trust and confidence of its stakeholders to operate sustainably in the long term. Patients and their familie5 and friends are at the heart of our care- but supporting and developing our staff and volunteers and extending our reach into the community we serve are centfal to our mission. 15
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 The trustee5 of Thames Hospice have acted in accordance with their duties codified in law, which includes their duty to act in the way they consider. in good faith. would be most likely to promote the success of the organisation for the benefit of its members as a whole, having re8ard to the stakeholders and matters set out in section 17211) of the Companies Act 2006. This Annual Report sets out how we engage with our health and social care stakeholders. such as healthcare professionals, patients and their families. This can be seen in the sections that cover our service performance and how our strategic objectives in 2020121 we met. Engaging with our local community through fundraising, volunteering and employment is vital to our work. We have over 6 volunteers who regularly Eive their time to support the charity. The Charity ensures that it maintains a reputation for high standards of business conduct by having in place a range of policie5 and processes that promote corporate responsibility and ethical behaviour. Areas covered include.. fundraising, gifts,. safeguarding- bullying and harassment: and whistleblowing. All these policies are reviewed periodically. We also have dedicated leads for safeguarding and whistleblowing within the Executive Team and the Board of Trustees Environmental Reporting Under the Energy and Carbon Reporting Regulations 2018 Thames Hospice is required to report on the environmental irnpacts of the organisation. The key environmental impacts for the hospice are electricity and gas usage in both the hospite and our retail stores. the use of three vons owned by the hospice for the collection of donated goods and distribution of goods amongst our retail stores and the use of two leased vans by our maintenance workers. Energy usage has been calculated using opening and closing meter readings for stores and the hospice. Opening and closing mileage readings have been used for the vans. UK Greenhouse gas emissions and eneTEy use data 2021-22 2020-21 Energy consumption used to calculate ernissions IKwHsl Energy consumption breakdown KWH Gas Electric 292,264 359.506 83.489 208.775 76,625 282.881 Energy consumption used to calculate emissions (KM) Transport 102,082 35,052 Stope l Emissions in metric tonnes C02e Gas ConsLEmption Owned transport Electricity usage 15.292 5,546 44.329 14,089 2,571 65,951 Intensity Ratios Hospice emissions per FTE Retail emissions per shop 106 2,273 147 2,780 16
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 Group Structure The Charity is a company limited by guarantee, incorporated in England and Wales (company number 53169641 and a charity registered in England and Wales {charity number- 11082981. In 2005 the Charity then known as Thames Hospicecare was formed following the merger of Thames Valley Hospi and the Paul Bevan Cancer Foundation. The mer8ed charity rebranded to become Thames Hospice in 2013. The Charity operates under a Memorandum and Articles. a full review of which was carried out in 2020 by ovr legal advisors. Thames Hospice Retoil Llmited The issued share capital of this company is held by the charity- This company is used to process sales of new goods sold through the charitys retail outlets and to recewe commission on gift aided goods donated to the charity for resale through the charitys retail outlets. Poul 8evan Cancer FoundotiTon The Paul Bevan Cancer Foundation remains as a dormant charity at the financial year end. Related ond other connerted porties The charity is SUPPOrted by its subsidiary retail company. Charitable trusts. fundraising support groups and individuals also raise money for the hospice via charity events. individual donations and legacies. NHS- The charity has a close relationship with the NHS commissioners (East Berkshire and South Buckin8hamshirel who provide essential tunding towards the operating costs of the charity in the form of grants. Our NHS grants contributed £4.522k to the running costs of the hospice representing 50% of costs excluding income Beneration 12021: £3,013k wa5 40%). In addition. our East Berkshire CCGS commission a Lymphoedema therapy seNice which is also fully funded and has provided a substantial increase in the availability of this vital service. 17
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 l*• Management Keymonagementpersonnel The trustees consider the Board of Trustees and the SMT as comprising the key management personnel of the charity in charge of directing and controllinE the charity. The day to day management of the charity is delegated to the Chief Executive Officer who meets With the whole SMT weekly and indwidually every fortnight. The members of the SMT are detailed on page SO. The SMT report to the Board both via the committee structure and on a more informal basis as required to keep the Board informed and to ensure good communication within the senior leadership team. Rewardpollcy The pay of the charit5 SMT 15 agreed by the Nominations Committee. The pay of all other employees is reviewed by the SMT and annual pay awards approved by the Board of Trustees. Remuneration for new staff is benchmarked with similar roles and SFmilar organisations by the Director of People and the remuneration for all posts kept under review in order to ensure the levels are fair and supportable. Our policy reflects the needs of the organisation. enabling us to recruit the most suitable staff and run the hospice effectively. The Thames Hospice Reward Poliry aims to ensure that reward and recognition practice underpins and supports our vision. mission, organisational values and strategic objectives while remaining legally compliant and reflectwe of recognised best practice. We are committed to ensuring that our salaries remain competitive in the labour market. Thames Hospice does not recognise any fomial external pay schemes (unless for employees protected by TUPE regulations) and salaries are set independently in accordance with appropriate benchmarking. For medical, clinical and other patient facing roles we track but are not limited by NHS pay bandings. For all other roles we aim to pay at le35t the median salary rate as published in the annual Hospice Rewards Salary Survey taking into account affordability and any other mitigating circumstances. We use Hospi HR Networks and other available published Salary surveys to facilitate our approach to setting salaries to roles. 18
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 Ourstaff and volunteers We know that our most important and valuable resource is our people. Whether they are paid staff or volunteers we value their slJPPOrt and commitment equally and we recognise that without them Thames Hospice would not be the charity that it is. We support, manage, develop and utilise the talents of our staff and volunteers. so that they are empowered and committed to deliverin8 our strate8ic aims. During 2021122 the staff and volunteers of Thames Hospice have had to remain resourceful and resilient to ensure that we met our commitments to ourcommunity. The senior managementteam would like to thank each and every one of them for their contribution in what has been another challenging year. People Services objertive5 include comprehensive training and development programmes to deliver a variety of staff trainin& both clinical and non-clinical. We run a series of mandatory training such as health & safety and governance but have also previously offered training on areas such as managing and recognising stress at Wofk, managing mental health at work and building effective and respectful relationships at work. Delivery against our objectives is overseen by the People Committee and reported to the Board. We also provide a comprehensive communication programme for staff including a staff forum where they can provide feedback or ask questions through their representatives. We hold SMT roadshows where the SMT will brief staff on how we are performing and what to expect in the future. Other fomis of information sharing and discussion are staff newsletters our annual staff suNey. Valulng our volunteer5 The charity benefits from the support of around 700 volunteers who undertake 3 range of activities on behalf of Thames Hospice. including working in our retail Shops. driving patients to and from day therapy appointments. sorting our donated stock and helping to staff our reception desks. Qualified counsellors also volunteer in the Hospice. providing professional counsellin8 SUPPOrt to patients and families. As at 31 March 2021 we had 727 volunteers working in a variety of roles in the charity. To date we have presented 184 volunteers with long service certificates for between 10 and 30 years. service and 255 19
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 volunteers with certificates for 5 years, service. Our Head of Volunteering and volunteerin8 team has responsibility for these awards and organi5es events such as our volunteer BBQwhere we Celebrate the importance of the work that our volunteer5 do. A programme of induction and ongoing training is also in place to enable our volunteers to carry out their roles safely and effectively and to ensure they gain the m05t out of their experience with us. We fully acknowledge the role of volunteers and how valuable they are to the charity. Their contribution to the charity is immense and we are most grateful to them for their hard work and commitment to Thames Hospite. We continue to be humbled by their determination and resilience. Fundraising Thames Hospice relies on the support of our local community to help us raise the vital funds we need to continue to provide our care free of charge for those in need. We are committed to delivering the highest standards in fundraising and in response to the greater need for trar)sparency and fonnal regulation. Thames Hospice has published its own Fundraising Promise. This is available on our website. We take our responsibilities in this area seriously and strive at all times to meet best practice standards and to adhere to all voluntary codes of conduct. We are members of the Institute of Fundraising IIOFI and registered with The Fundraising Regulator (FRI. Thames Hospice has a set of metrics based on the Institute of Fundraising Code of Fundraising Practice. The metrics have two functions.. To confirm Thames Hospice is compliant with the standard5 expected of fundraisers and To measure and report against specific elements of fundraising practice at Thames Hospice. The trustees review these metrics at each quarterly Board meeting to ensure the hospice is carrying out all fundraisin8 activities accordin8 to the Code and complying with the underlying principles of openness. honesty and respectfulness. We employ third parties to carry out face to face and telephone lottery canvassing. They are also instructed according to IOF and FR codes and regulations and we ensure that they are acting with respect to members of the public and safeguarding potentially vulnerable person5. We also employ a company to call lottery players whose 20
THAMES HOSPICE TRUSTEES. REPORT for the year ended 31 March 2022 membership has expired to ask if they will renew: they have been similarly instructed and are appropriately monitored. All other fundraising 15 carried out by the Thames Hospice staff team who are trained and managed according to IOF and FR rules and best practice. Thame5 Hospice has a Fundraising Complaints Poltcy which is available on our website. We take any complaints received very seriously and they are reviewed and acted upon by the Director of Fundraising and Marketing and their team; they are also reviewed by the Board. During the year the Fundraising team recewed 10 complaints 12021: 211 which were all dealt with in-house: nofte were reportable to the regulator. Environmental policy Thames Hospice sirives at all times to consider the environmental impact of what we do and minimise any negative effect that we might have. Staff have recycle bins located in offices and kitchens and they are encouraged to recycle wherever possible. We also recycle batteries and toner cartridges. Our retail van5 are routed to use the lowest mileage possible when colle¢tÉng and delivering. Suppliers are expected to demonstrate similar principles. Our hospice building in Bray uses a system of thermal mass to control temperature in the building and the use of air conditioning is restricted to the patient rooms. education suite and communications room. In the grounds surrounding the hospice an existing water course has been re-landstaped and some of the outlying grass areas have been sown with wild flower meadow seed both to encourage wildlife and increase the ecological and biodiversity of the site. 21
THAMES HOSPICE TRUSTEES, REPORT for the year ended 31 March 2022 Statement of Trustees. Responsibilities The trustees Iwho afe also directors of Thames Hospice for the purposes of company lawl are responsible for preparing the Trustee5' Report and the financial statements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which Eive a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, Éncluding the income and expenditure of the ¢haritable group for that period. In preparing these financial statements the trustees are iequired to= Select suitable accounting policies and apply them consistentty- Observe the methods and principles in the Charities SORP (FR5 1021- Make judgements and estimates that are reasonable and prudent,. State whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements- and Prepare the financial statements on the going concem basis unless it is inappropriate to presume the charitable cofflpany will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and that enable them to ensure that the financial statements tomply with the Companies Act 2C116. They are also responsible for safeguarding the assets of the 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 Maintenan and integrity of the corporate and financial information included on the charitable company's website. Legislation in ihe United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in otherjurisdiction5. Statement as to disclosure of inforniation to the auditor So far as the trustees are aware, there is no relevant audit information of which the charitW5 auditor is unaware, and each trustee has confirmed that they have taken 311 the steps they ought to have taken as tiustees in order to make themselves aware of any relevant atsdit information and to establish that the chariVs auditor 15 aware of that information. Auditors The auditors, Sayer Vincent. are a new appointment and this is their first year in office. The Trustees, Report and incorporated Strategic Report were approved by the Board of Trustees on 8 September 2022 and were signed on its behalf by Andy Ka, Trustee. SiEned: Date: 22
THAMES HOSPICE INDEPENDENT AUDITORS, REPORT TO THE MEMBERS AND TRUSTEES for the year ended 31 March 2022 Opinion We have audiled the financial statements of Thames Hospice {the 'parent charitable compan) and its subsidiary (the 'group'l for the year ended 31 March 2022 which comprise the consolidated statement of financial activities. the group and parent charitable company balance sheets. the consolidated statement of cash flows and the notes to the financial statements. including a summary of significant accounting policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK ar¢d Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In ovr opinion. the financial statements-. Give a true and fair view of the state of the group's and of the parent charitable company's affairs as at 31 March 2022 and of the group's incoming resources and application of resource5. including its income and expenditure, for the year then ended Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice Have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Att 2011 Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the group financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordan with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basi5 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 uncertaintie5 relating to events or conditions that, individually or collectivety. may cast significant doubt on Thames Hospice's ability to continlte as a going concern for a period of at least twefve months from when the financial statements are authorised for Issue. Our responsibilities and the responsibilities of the trustees with re5ped to goin8 concern are described in the relevant sections of this report. Other Information The other information comprises the infomiation included in the trustees, annual report. including the strateEic report, other than the Broup financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the group 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 group financial statements 23
THAMES HOSPICE INDEPENDENT AUDITORS, REPORTTOTHE MEMBERSAND TRUSTEES for the year ended 31 March 2022 or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify suth material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the group 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 Art 2006 In our opinion. based on the work undertaken in the course of the audit: The information given in the trustees, annual report, including the strategic report, for the financial year for which the financial statements are prepared is consistent with the financial statement5 The trustee5' annual report. including the strategic report. ha5 been prepared in accordance with applicable legal requirements Matters on which we are requlred to report by exception In the li8ht of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatement5 in the trustees, annual report, including the strategic report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2OJ6 and Charities Act 2011 requires us to report to you if, in our opinion: Adequate accounting records have not been kept by the parent charitable companyi 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 tWStees' 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 fulty in the statement of trustees. responsibilities set out in the trustees, annual report, the trustees (who are aly) the dirertors of the parent charitable company for the purposes of company lawl 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 detemiine 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 trustee5 are responsible for assessing the group's and the parent charitable compan5 ability to continue as a 8oinE concern. disclosing. as applicable. matters related to going concern and using the going concern basis of accounting unle5S the trustees either intenLf to liquidate the group or the parent charitable company or lo cease operations. or have no realistic alternative but to do so. 24
THAMES HOSPICE INDEPENDENT AUDITORS. REPORT TO THE MEMBERS AND TRUSTEES for the year ended 31 March 2022 Auditorfs responsibilities for the audit of the financial statements We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts. 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 auditorfs report that include5 our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material mi55tatement when it exists. Misstatements can arise from fraud or error and are considered material if. indNidually or in the ag8re8ate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial siatements. Irregularities, intluding fraud, are instan$ of non-cornpliance with laws and regulation5. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud are set out below. Capability of the audit in detecting irregularities In identifying and assessing risks of material misstatement in respect of irregularities. including ffaud and non- compliance with laws and regulations, our procedures included the following: • We enquired of management and the Finance and Investment Committee, which included obtaining and reviewing supporting documentation. concerning the group's policies and procedures relating to.. Identifying. evaluating, and complying with laws and regulations and whether they were aware of any instances of non-complionce: Detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected, or alleged fraud- The internal controls established to mitigate risks related to fraud or non-compliance with laws and re8ulations. We inspected the minutes of meetlngs of ihose charged with governance. We obtained an understanding of the legal and regulatory framework that the group operates in, focusing on those law5 and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the group from our professional and sector experience. We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. We reviewed any reports made to regulators. We reviewed the financial statement disclosures and tested these to supportin8 documentation to assess compliance with applicable laws and regulations. We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business. Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including Ihose leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instances of non-compliance. 25
THAMES HOSPICE INDEPENDENT AUDITORS. REPORT TO THE MEMBERS AND TRUSTEES for the year ended 31 March 2022 The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion. omi55ion or rnisrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.or8.vk/auditorsresponsibilities. This description forms part of our auditorfs 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 2C(J6 and section 144 of the Charities Art 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might stale to the charitable company's members those matters we are required to state to them in an audito¢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. Judith Miller Isenior statutory auditor) Date 31 October 2022 for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House. 108-114 Golden Lane. LONDON. ECIY OTL Sayer Wincent LLP is eligible to act a5 auditor in temis of section 1212 of the Companies Act 2C(16 26
THAMES HOSPICE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (incorporating an income and expenditure account) for the year ended 31 March 2022 Un- Restricted Funds Totsl Restricted Totsl restrirted Funds 2022 restricted Funds 2021 Funds Note £000 Income from: Donations and legacies Charitable activities 3.665 554 4,219 3.420 1,003 4.423 6.043 1,178 7.221 5.886 5,886 Other trading activities 4.5 2.631 2.631 Investment income 93 93 93 93 Other income Total Income 13.805 1,732 15,537 12.032 1,003 13,035 Expenditure on: Raising funds 5.975 5.975 4.902 4.902 Charitable Activities 6,132 1.412 6,346 6,347 Total Expenditure 12,107 1,412 13,519 11.248 11.249 Net income/lexpenditure} before investment gainslllossesl Net gainslllosse51 on investments 1,698 320 2,018 l.C(12 1,786 201 201 Gain from sale of asset held for sale 2.999 2,999 Net income 4.675 320 4.995 985 1.002 1,987 Transfers between fund5 18 328 949 19491 Net Movement in Funds io 5.CK13 4,995 1,934 53 1.987 Reconciliation of Funds: Total funds brought forward 18 Total funds carried fonvard 26,717 340 27,057 24.783 287 25,070 31.720 332 32.052 26.717 340 27,057 The statement of Financial Activilies indudes all gains and losses in the year. AEI incoming resources and resources expended are dèrived from continuing activities. The notes on pages 31 to 48 form part of these financial statements. 27
THAMES HOSPICE BALANCE SHEErs as at 31 March 2022 Registered Company No: 5316964 Group Charity Group Charlty Note 2022 2022 2021 2021 £cM)o Fixed assets Tangible assets 13 22.250 22.250 22,625 22.625 Investments 14 5,512 5.51Z 2,997 2.997 27,762 27,762 25,622 25,622 Current a55ets Asset held for sale 13 3,085 3.085 Stocks 15 94 iii Debtors 16 3.798 3W3 2,719 2,850 C35h at bank and in hand 2.523 2,516 687 661 6.415 6.399 6.602 6,596 CredIto. amounts falling due within one year 17 12.1251 12,1111 15,1671 15.1631 Net current assets 4,290 4.288 1.435 1,433 Total assets less curfent liabiliiles 32.052 32.050 27,057 27,055 Net assets 32.052 32,050 27,057 27,055 Restricted fund5 18 332 332 340 340 Unrestritted funds 18 31.720 31,718 26,717 26,715 Totsl Funds 32,052 32.050 27.057 27,055 As permitted by Section 408 CompaniesAtt 2(X)6 ihe pareni tharity has not pre5enied itsown SOFA The charitV5 Surplus forthe yearwas £4,995k12021= É1,951kl. The Financial Statements on pa8es 31 to 48 were aped and a4rthorised for issue by the Pojardof Tw5tees on 85eptember 2022 and were si8ned on lis behalf by An(ty Ka, TrL*5tee. Signed: 28
THAMES HOSPICE CONSOLIDATED CASH FLOW STATEMENT for the year ended 31 March 2022 2022 2021 Note Net cash provided by continuing operating activities 20 (1,239) 5.017 Cash flows from Investing Actlvities: Investment income 93 Purchase of tansible fixed assets Purchase of investments Sale of investments Proed5 from sale of asset held for sale 1428) (3,282) 745 15,3671 14601 770 Net cash used in investing artivities 3,075 14,9641 Change in cash & cash equivalents in the year 1,836 53 Cash & cash equivalents at the be8innin8 of the year 687 634 Cash & equivalents at the end of the year 2,523 Analysls of changes In Net Debt 2022 2021 Cash and cash equivalents Cash at bank as at l April Cash flows during the year 634 I36 53 2,523 687 Borrowings Debt due within one year 14,0551 Totsl 2.523 {3.368 29
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 Accounting policies The Charity is a company limited by guarantee. incorporated in England and Wales {company number 53169641 and a charity registered in England and Wales (charity number- 11082981. The Charitys registered office address i5- Thames H05pice. Windsor Road, Maidenhead. Berkshire. SL6 2DN. Basis of preparation The Financial Statements are prepared under the historical cost convention with the exception of investmenls which have been included at fair value. The Financial Ststements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (Charities SORP {FRS 10211 and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2CM)6. Thames Hospice meets the definition of a public benefit entity under FRS 102. The financial ststements have been prepad on a going concem basis. The Trustees consider that there a no material untertainties about the charitws ability to continue. The Covid-19 pandemic continued to impact the Compan5 finances in 2021122 although on-going government assistance via the Job Retention Scheme. NHSE grants and local 8uthority non-essential retail grants have all helped to mitigate the effect. The trustees are satisfied that this will not impact the sustainability of the Company in ihe long term. As a result. they consider that it is appropriate to prepare the financial statements on a going concem basis. The group statement of financial activities ISOFAI and balance sheet consolidate the financial Statements of the charity and its wholly owned subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The financial statements are presented in sterlin& rounded to the nearest £l,CKMJ. Fund accounting General funds a unrestricted funds that are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial 5tatement5. Restricted funds are funds which are to be used in accordance with spectfic nctIonS or which have been raised by the charity for particular purpose Income All incoming resources are included in the SOFA when the charity is entitled to the income. receipt 15 probable and the amount can be quantified with reasonable accuTrcy. The following specific policie5 are applied to particular categories of income: Donation intome is received by way of grants, donations and gifts and is included in full in the SOFA when receivable. Grants, where entitlement is not conditional on the delivery of a specific perfomiance by the charity. are recognised when the charity becomes unconditionally entitled to the grant. 30
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 Legacies are recognised when the charity 15 legally entitled to the income and the amount can be quantified with reasonable accuracy. Entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. Where the conditions for recognition are not met, the charity maintains a legacy pipeline. However, as these are not readily quantifiable they are not dixlosed in these accounts. Oonated services and facilities are included at the value to the charity where this can be quantified. The value of services by volunteers has not been included in these accounts. Goods donated for resale through the charitrfs shops are induded as incoming resources within Other Trading Activities when they are sokl. Investment income is included when recervable. Expenditure Expenditure is recognised on an accnjals basis as a liability is incurred. Any VAT which cannot be fully recovered 15 reported as part of the expenditure to which it relates: Costs of raising funds comprise the costs assooated with attrarting voluntary income and the costs of trading for fundroising purposes including the charitvs shops. Charitable activities expenditure comprises those costs incurred by the charity in the delwery of its activities and services for its beneficiaries. It includes both costs that can be allocated d1CtlY to such actsvities and those costs of an indirect nature necessary to support them. Central support servtces costs comprise those costs associated with Finan. HR. IT. governance and support such as maintenance, housekeeping and utilities. All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular aciivity are allocated directly. The charity makes an accrual for outstanding holiday pay at the end of the financial year. Tangible fixed assets Tangible fixed assets a ststed at historical cost less accumulated depreciation. Depreciation of fixed assets is charged by annual instalments commencing in the year of acquisition at rates estimated to write off their cost less any residual value over their expected useful lives which are as follows: Freehold property 20-50 years Leasehold buildings over lease period Leasehold improvements over lease period Plant and machinery S-10 years Office equipment 5 years Fixtures and fittings 5 years Computer hardware and software 3-8 years Motor vehicles 4 years Assets in the course of construction are not depreciated. Assets costing less than £1.( are not capitalised. Land is not depreciated. Investments Investments are stated at fair value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year. 31
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 stocks Stocks of goods for resale are primarily donated Eoods to the charity and therefore have no value in the accounts until they a sold. Thames Hospice does not have a stock recording system for donated goods. New goods purchased for resale by the subsidiary company are valued at the lower of cost and net realisable value. Penslon5 Costs The charily makes defined contribution payments into pension schemes OD behalf of Its employees. Contributions payable for the year are tharged to the SOFA. The chartty also participates in the NHS Superannuation Scheme, which provides benefits based upon final pensionable pay. The assets of the scheme are held separately from those of the Hospice and a independently administered. The fund is valued every 5 years by the Government Actuary. the leS of contribution payable beillg determined by the actuary. In the intervening years the actuary reviews the continuing appropriateness of the rates. Pension costs are charged to the hospice's SOFA in the period to which ihe salaries on which they are payable relate. Operating lease5 Rentals applicable to operating lease5 are charged in the SOFA over the period in which the cost15 Incurred. Financial Irfjtruments The charity only has financial assets and financial liabilitie5 of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Critical Estimates and Judgements In the process of applying the charitrfs accounting policie5. management has made judgements, some of which have a significant effect on the amounts recognised in the financial statements. The key material assumption this year related to the capitalisation of fees and other costs relatiftE to the new hospice build which had all been capitalised as A55ets Under Construction. As the build project completed during the financial year and was occupied from October 2020, all costs associated with the build have now been transferred to a depreciable asset category and depreciation has commenced. 32
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 Donations and Legacies Un- restricted Funds Restrirted 2022 Funds Restricted 2021 Funds restricted Funds £000 £0 £Tr)o £000 Community fundraisinB and committed giving Donations and appeals Legacies Job Retention Scheme 769 769 1,984 718 438 2,422 718 1,486 620 1.003 2,489 620 15 15 545 545 3.781 438 4,219 3,420 I,IXJ3 4.423 At the end of the financial year we had legacies of £43.5k in the pipeline12021: £378kl that have not been recognised in the accounts due to not meetsng SORP regulations. Income from Charitsble Artivities Unrestricted funds 2022 Restrirted funds 2022 £000 Totsl Unrestricted funds 2021 £0 2022 Education and training External seNice provision Catering CCG funding Hospice UK Grant income 21 21 Is 206 206 39 5,812 5,812 1.178 7,221 4.172 1,659 5,886 1,178 1,178 6.043 Income from Other Trading Artivities Unrestricted Unrestricted fund5 funds 2022 2021 £oc Events 144 112 Lottery income Sales of donated goods Sales of new goods Retail local authority grants 777 584 1,095 164 349 88 676 2,631 33
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 Investment Income Unrestricted Unrestricted fund5 funds 2022 2021 £0 £(xJo Income from irkvestments 93 93 93 93 Other Income Unrestricted Unrestricted funds funds 2022 2021 Other intome Costs of Ra55ing Funds and Charitable Activities Staff related Total 2022 Total 2021 costs Premlses Other Costs of Ralsing Funds Direct costs 2,182 552 947 1.505 301 4.634 1.341 3,857 1,045 Central services support costs- Note 8 2.734 1.435 1.806 5,975 4,902 Costs of Charitable Activities Direct costs 5.112 21 740 5,873 1,671 7,544 5,026 1,321 Central services support costs- Note 8 375 629 1.115 6,347 34
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 Central Services Support Costs Our Central services support COSts comprise the following: Unrestricted funds 2022 £000 Unrestricted funds 2021 £000 Finance, including depreciation Governance and Chief Executive costs 1,226 319 1,114 245 Information Tethnolo8Y Human Resources 214 216 589 277 Facilities 664 514 3.012 2.366 All costs are apportioned to either the costs of Raising Funds or Charitable Activities on the basis of the direct costs charged to each category. The result is shown in Note 7. Employee information The average number of persons employed by the group {including bank staffj during the period was as follows:. 2022 No. 2021 No. Fundraising Management and administration Retail 15 17 22 74 74 Direct patient care 182 147 294 260 The average full time equivalent numbers of persons ernployed by the group duringthe period was as follows:_ 2022 No. 2021 No. Fundraising Management and administration Retail 12 14 19 19 63 Direct patient care 142 120 237 216 35
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 The aggregate payroll costs of these persons were as follow&- 2022 £0 2021 £000 Wages and salaries Social security Costs Pension contributions (see note 241 7,499 658 6,475 563 471 411 8,628 7,449 Staff costs include.bank nurse<. whom the Hosptce views as an essential staff resource. Also included is an amount for termination payments of £4k relating to three members of staff whose employment was terminated during the year 12021: £llk, two members of staff). The number ofemployees whose emoluments exceeded £fA).CIXlwa5: 2022 No. 2021 No. £60.001- £70,C £70,001- £80.000 £80,001- £90,000 Pension tontributions were made in respect of the above employees totalling £54k12021: £40kl. Five of the above staff are members ofthe SMT and two are members ofthe medical team. Key mana8ement staff comprises our Board of Trustees, see page 50, and our Senior Management Team {SMll. see page 50. None of our trLSStees receÈved any remuneralion or expenses during the year12021: nill. The aggregate staff cost5 of the SMT were E610k {2021- E628k) including national insurance and pension c05tS. Based on full time equivalent salaries for permanent staff. the multiplier from median to highest salary is 3.9812021: 4.461. Although the trustees receive no remuneration for their services. Thames Hospice does procure indemnity insurance on their behalf through a Management Liability policy. The premium paid in the year was E3,56012021= £2,848). io Net Movement in Funds Group 2022 £000 Charity 20Z2 Group 2021 Charity 2021 £(x)o Net Income is stated after charging: Depreciation Auditorfs remuneration: 797 797 610 610 As auditor lexcluding VAT) - As auditor other services (excluding VAT) 20 20 33 33 Operating lease charges on retail units and printers 718 718 707 707 36
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 li Taxation The parent company is a Registered Charity, and as such is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading artwitie5 carried on in fvrtherance of the charity's primary objertives, if these profits and surpluses are applied sOlY for charitsble purposes. Thames Hospice Retail Limited is registered for VAT. and consequently all its income and expenditure is recorded net of VAT. Ordinarily, Thames Hospice Retail Limited gift aids all of its taxable profits to the charity, thereby resulting in no liability to corporation tax. For the year ended 31 March 2022 all profits were gift aided to Thames Hospice under deed of covenant so there was no profit chargeable to corporation tax within Thame5 H05pice Retail Limited (tax paid 2021: £nill. 12 Net Result of Trading Subsidiary The charity owns the whole of the ordinary share capital. consisting of 2 ordinary shares of £1 each. of Thames Hospice Retail Limited (Company number 21008441 which acts as agent under the HMRC gift aid scheme for goods donated to and sold by the charity. It also bought and sold a range of new goods. primarily accessories. small gifts an¢J greetings ards. Ordinarily, the SLtbsidiary distributes any taxable profits under gift aid to the charity each year. Its trading results, as extracted from the audited Financial Statements. are summarised below: 2022 2021 £wo £cKJo Turnover 1,076 (181) 5CX) Cost of sales 190) Gross profit Administrative expenses Profit on ordinary activities before taxation Taxation paid DistribL¢ted to charity holding company 895 410 (837) 58 1408} {58) 121 Retalned Sn subsidiary The assets and liabilities of the trading subsidiary we= 2022 2021 £000 Current assets 124 162 Creditors- amounts falling due within one year Total net Iliabilitie5l/asset5 Aggregate Share capilal and reserves 11221 11601 37
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 13 Tangible fixed a55ets Group And Charity Freehold Property Leasehold Machinery & Fixtures & Computer property Equipment rittinzs equipment Vehicles Total l April 2021 Additions 21.371 270 1.343 1.408 22 865 552 117 25.656 428 32 97 Disposals 31 March 2022 {61 26,078 21,641 1.350 649 117 Depreciation l April 2021 Charge for the year Disposals 31 March 2021 215 735 1,174 448 346 113 3.031 427 95 113 799 12) 559 121 3,828 642 830 1,254 426 117 Net book value 31 March 2022 20,999 520 176 332 223 22,250 31 March 2021 21.156 234 417 206 22,625 14 Investments Group 2022 Chartty 2022 Group 2021 £000 Charity 2021 Securities and cash 5.512 5,512 2.997 2.997 Investment in groltp undertaking {see Note 12 5,512 5,512 2.997 2.997 38
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 GfOUP and Charity securhties and cash 2022 £0 2021 Assets brought forward at l April Additions at cost Movement in cash Disposals Reali5ed and Unrealised investment gains/llossesl 2,997 3.440 1158) (745) 122) 3.106 334 126 17701 201 Market value at 31 March 5,512 2.997 Investments comprise: 2022 2021 Group and Charity Fixed interest securities- £000 UK 456 1,012 Managed funds and unit trusts-_ -UK 4.430 626 1,700 285 Cash on deposit Market value at 31 March 5.512 2,997 15 Stocks Group Charity Group Charity 2022 2022 2021 £000 2021 £000 Stock held for resale 94 iii 16 Debtors Group 2022 Charity 2022 £000 Group 2021 Charity 2021 £0 Amounts due from subsidiary undertaking oiher debtors iio 156 93 82 67 42 Trade debtors 1,496 2,209 3.798 1.493 2,198 3,883 493 493 Pfepayments and accrued income 2.159 2.719 2.159 2.850 39
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 17 Credltors: amounts falling due within one year Group 2022 Charity 2022 Group 2021 Charity 2021 £000 Short term bank loan 4.055 360 4,055 358 Trade creditors 203 191 Pension liability Other taxation and social security Accruals and deferred income 72 72 61 61 166 166 149 149 1.682 542 540 2.125 2,111 5,167 5,163 Deferred Income Income is deferd to the extent that it relates to an event or activty that occurs in a subsequent accounting period. Group 2022 Charity 2022 £0 Group 2021 £coo Charity 2021 Brought forward Deferred in the year Released in the year Carried forward at l April 137 137 537 537 1,112 (123) 1,126 1,112 1123) 1,126 137 137 15371 137 15371 137 40
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 18 Funds At 31 March 2022, funds are analysed as foll0v. At l Aprfl 2021 Incomlng Resourtes (Xrtgolnz Resources Genernl At 31 March Fund 2022 Trdnsfers Unrestrirted funds- Group General Fund 26.717 16.804 112.1291 31,392 (2801 Transfer to designated funds Transfer from designated funds Transfer from restrirted funds 12801 328 328 General Funds Total 26.717 16.804 112.1291 48 31,440 Designated IPU costs fund Transfer from general fund Transfer to general fund Designated Funds Total 280 280 280 Unrestricted Funds Totsl 26.717 16,804 (12.129) 328 31,720 At l April 2021 Incoming Out£olng Resources General At 31 March Fund 2022 Transfer5 Unrestrfcted funds- Charity General Fund 26,715 16.804 112.1291 31,390 {2801 Transfer to designated funds Transfer from designated funds Transfer from restricted funds {2801 328 328 General Funds Total 26.715 16.804 112.1291 48 31,438 Designated IPU costs fvnd Transfer from general fund Transfer to general fund Designated Funds Total 280 Unrestrirted Funds Total 26,715 16,804 (12,129) 328 31,718 41
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 The trustee5 have designated £280k of the group unrestricted funds for additional IPU running costs, which will be spent during 2022-23. coMpalIve figures for 31 March 2021 are analysed as follow5: Unrestrirted funds- Group At l Apnl 2020 Incoming Resources Outgoing General At 31 March Resources Fund Transfers 2021 £000 General Fund 23.416 12.233 {11.2481 24,401 Transfer to designated funds Transfer from designated funds Transfer from restricted funds 1,367 949 1.367 949 General Funds Total 23.416 12.233 111,248) 2,316 26.717 Designated Project 25 Fund Transfer from general fund Transfer to general fund Designated Funds Total 1.367 1,367 11,3671 11,3671 11,3671 1,367 Unrestrirted Funds Total 24,783 12.233 111,2481 949 26,717 Unrestrirted funds- Charity At i ApTiI 2020 Incoming Resources Outgoing General At 31 March Resources Fund Transfers 2021 Gener31 Fund 23,414 12.233 111.2481 24,399 Transfer to designated funds Transfer from designated funds Transfer from restricted funds 1,367 949 1,367 949 General Funds Total 23,414 12,233 111,2481 2.316 26,715 Designate(J Projert 25 Fund Transfer from geneTrl fund Transfer to general fund Designated Funds Totsl 1.367 1.367 11,3671 11,3671 11,3671 1.367 Unrestrirted Funds Total 24,781 11233 111.248) 949 26.715 42
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 2022 £0 2021 Restrirted funds- Group & Charity At l April Net movement in fund5 340 287 {8} 332 53 At 31 March 340 The net movement in restricted funds during 2021122 is anatysed as follows: At l Aprfl 2021 Incomlng l)rtgolng Re50urus Resources To General At 31 March Fund Fixed 2022 Patient Support Fund Clinical Funds for equipment et PTS New Build Capital Appeal ii) 11.4121 {2131 127 1.733 11161 332 213 341 1,733 11.626) 1116) 332 Comparotive figures for 31 March 2021 a anatysed as follows: At IApril 2020 Incoming Resources Outgoing Resources To GeneTrl At 31 March Fund fixed 2021 Assets Patient Support Fund Clinical Funds for equipment etc. Comfort Appeal PT5 New Build Capital Appeal iii 56 (i) 1391 1301 18791 127 30 145 947 213 (i) (949) 340 The Patient Support Fund represents a donation made to support Day Therapy Unit patients. Thi5 is used to purchase items for therapy sessions Such as craft materia15 and also to help fund patient transport costs. The Clinical Funds and Comfort Appeal Fund represent donalions for clinical training, equipment. Staffing costs and supplies. 43
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 The Capital Appeal took place in 2017118 to raise funds for the new hospice building. which completed in October 2020. In total £6m was raised from the appeal. which was used to specifically finance the build c05t of the new hospice. Restricted funds donated to the capital appeal were transferred into the general fund as they were utilised in the construction of the new hospice. Any remaining balance will be used to pay the final contractor retention which was due in October 2021. but has been extended due to minor outstanding snagging works. 19 Analysis of Net Assets between Funds Unrestrirted funds Restricted funds Totsl 202Z Unrestricted funds Re5tritted funds Total 2021 £000 £000 Tangible assets Investments 22,250 5,512 250 22.625 2.997 6.262 15,167) 22.625 2,997 6.602 15,1671 5.$12 6,415 12,125) Current assets 332 Creditors falling due within one year (2,125) 31.no 332 32.052 26.717 27.057 20 Reconcillation of Operating Profrt to Net Cash provided by Continuing OperdtinE Activitle5 2022 2021 £000 Net income for the year Depreciation on tsngible fixed assets IGainsl/Losses on investments Investment intome 5.017 799 1.987 610 22 {2011 1931 1931 Fixed asset write offs Gain on disposal of tsngible fixed assets Ilncreasel in stock induding stock write offs Ilncreasel in debtors Increase in creditor5 (2.8801 17 1321 12301 2.971 (1,0791 (3,0421 Net cash provlded by contlnulng operating artivities (1,2391 5,017 44
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 21 Financial Commitments At 31 March 2022. Thames Hospice had financial commitment5 under nOn-CanlIable operdting leases as follows: 2022 2021 Land and Buildings Land and Buildings Due within one year Due within 40 to five years Due in more than five years Totsl financial commitments 709 767 2,263 1.972 2,972 2.739 22 Related Party Transactions The trustees ofThames Hospice do not receive any remuneration and have not claimed any expenses during the year. During the year 9 trustees and their close family donated a total of £3,73312021.. £3,930) to the charity. The donations were a mixture of one-off capital and revenue donations. lottery membership and ticketed events. Thame5 Hospice RetoilLimited The charity has a wholty owned tfading subsidiary. Thames Ho¥Jice Retail Limited. During the year there have been intercompany transactions between the two entitie& Charged by the charity to the subsidiary - charges per the trading agreement in pla for use of name and 3% of turnover. a prowrtion of the running costs of the charity retail division and an overhead recharge. The total of these transactions was £861k12021: £441k}. Charged by the subsidiary to the charity- commission on gift aided sales and a donor procurement charge. These totalled £727k12021: £335kl. At the year*nd a balance of £IIOk was owed by the Subsidiary to the charity12021: £180k). See also Note 16. There have been no other related party transactions during the year. 23 Pension Commitments The charity employees participate in two schemes:_ Defined Contrlbutlon Scheme Thames Hospice participates in a defined contribution pension plan with Scottish Widows. The total pension cost for the period for the charity charged to the SOFA in respect of this scheme was £217k12021: £185kl. The liability outstanding at the end of the financial year was £33k12021- £29kl. The NHS Superannuation Scheme For qualifying Thames Hospice staff, participation in the NHS scheme provides benefits based upon final pensionable pay. However. the contributions paid by the charity in respect of the NHS Superannuation scheme are accounted for as if the scheme were a defined contribution scheme as the charity is unable to identify its share of the underlying assets and liabilities in the scheme. 45
THAMES HOSPICE NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022 The total pension cost for the period for Thames Hospice was £254k12021- £226k). The liability outstanding at the end of the financial year was £39k12021: £31kl. The Government Actuary using the Projected Unit Method determines contributions charged to the SOFA. The NHS Pension Scheme is an unfunded. defined benefit scheme that covers NHS employers, general practices and other bodies allowed under the direction of the Secretary of State in England and Wales. As a consequer)ce, it is not possible for Thames Hospice to identify its share of the assets and liabilities of the underlying scheme. Accounting voluotion.- A valuation of scheme liability is carried out annually by the scheme actuary (currently the Government Actuarfs Department) as at the end of the reporting period. This utilises an actuarial assessment for the previous accountin8 period in conjunction with updated membership and financial data for the current reporting period, and are accepted as providing suitably robust figures for financial reporting purposes. The valuation of scheme liability as at 31 March 2021 is based on valuation data as at 31 March 2015. updated to 31 March 2016 with summary glob31 member and accounting data. In undertaking this actuarial assessmenl. the methodology prescribed in IAS 19, relevant FReM interpretations, and the discount rate prescribed by HM Treasury have also been used. The latest assessment of the liabilities of the scheme is contained in the scheme actuary report. which forms part of the annual NHS Pension Scheme (England and Wales) Pension Accounts. These accounts can be viewed on the NHS Pensions website and are published annually. Copies can also be obtained from The Stationery Office. Full t7ctuoriul valu¢7tion.- The purpose of this valuation is to a55e5S the level of liability in respect of the benefits due under the schemes (taking Into account their recent demographic experience}, and to recommend contribution rates payable by employees and employers. The last published actuarial valuation undertaken for the NHS Pension Scheme was completed for the year ending 31 March 2012. The Scheme Regulations allow for the level of contribution rates to be changed by the Secretary of State for Health, with the consent of HM Treasury, and consideration of the advice of the Scheme Actuary and appropriate employee and employer representatives as deemed appropriate. 24 Capital commitments The charity had commitments under contracts relating to the new build at Bray outstsnding as at 31 March 2022 amounting in total to £0.3m12021: £0.3ml. This total is comprised of the final retention due under the contract with the building contractors, and any final fees due to the design team at that point. 25 Legal status of the charity The charity is a company limited by guarantee and has no share capitsl. The liability of each member in the event of winding up is limited to £1. 46
THAMES HOSPICE ADMINISTRATIVE DETAILS for the year ended 31 March 2022 Le al and Adminlstrative Information Charity Name.. Thame5 H05pice Charity Registration Number- 1108298 Company Registration Number- 5316964 Registered and Principal Office: Wind50r Road Maidenhead Berkshire SL6 20N Independent Auditors: Sayer Vincent Invicta House 108-114 Golden Lane London ECIY OTL Bankers: Natwest Bank plc 12 High Street Windsor SL4 ILD Investment Managers- Investec Wealth & Investment Management Ltd 30 Gresham Street London EC2V 7QN 47
THAMES HOSPICE ADMINISTRATIVE DETAILS for the year ended 31 March 2022 Qur Board of Trustees: Mr Jonathan Jones Ichair) Mr Christopher Aitken (Deputy Chair} Mrs Jacinta Ashworth {to 09 December 2021) MrAndy Ka Dr Judith Kinder Miss Janet King Mr Craig Linton Mrs Catherine McLau8hlin Mr Bruce Montgomery Ms Margaret Neal (to 09 September 20211 Mr Nilesh Shah Mrjon Toohey Ms Alice Hunt (from 16 May 20221 Ms Frances Lawrence Ifrom 16 May 20221 Our Senior Managernent Tearn are: Mfs Debbie Raven Chief Executive Ms Ruth Bartholomew Finance Dirertor & Company Secretary (to 25 April 20211 Mrs Traw Talt Finance D1Ctor & Company Secretary (from 26 April 20211 Ms Lisa Church Director of Clinical Services Ms Jita Das Medical Director (to 31 Jan 20221 Mrs Julie Rowley Director of Retail Mrs Sarah Bissell Director of Fundraising and Marketing (to 15 Mar 20221 Mrs Carol Carpenter Director of People Ifrom 04 May 20211 MrsAmy Chambers Director of Fundraising and Marketing (from 30 May 2022) 48