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← John Eastwood Hospice Trust

2024-03-31-accounts

Registered number: 05829735 Charity number: 1117576

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the company, its trustees and advisers 1 - 2
Chairman's statement 3 - 4
Trustees' report 5 - 9
Independent auditor's report on the financial statements 10 - 14
Statement of financial activities 15
Balance sheet 16
Statement of cash flows 17
Notes to the financial statements 18 - 33

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees

P Tootell B Stopford (resigned 1 November 2023) K Sallis (resigned 10 May 2023)

D Harradine, Chair

K Roberts (resigned 7 February 2024)

P Cordin (resigned 7 February 2024) A Haggerty A Haywood (appointed 7 February 2024)

C Burgess (appointed 7 February 2024)

G Jordan

S Kerr, Treasurer

G Gilbert (appointed 8 May 2024)

C Wood K Page K Robinson (appointed 8 May 2024)

Company registered number

05829735

Charity registered number

1117576

Registered office

Mansfield Road Sutton-in-Ashfield Nottinghamshire NG17 4HJ

Company secretary

T L Joyce

Chief executive officer

T L Joyce

Independent auditor

Barnett & Turner Accountants Ltd Statutory Auditor Cromwell House 68 West Gate Mansfield Nottinghamshire NG18 1RR

Page 1

JOHN EASTWOOD HOSPICE TRUST (a company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Bankers

NatWest Bank PLC 9 Church Street Mansfield Nottinghamshire NG18 1AF

Investment advisors

Brewin Dolphin Waterfront House Waterfront Plaza 35 Station Street Nottingham NG2 3DQ

Investec Wealth & Investment Limited Beech House 61 Napier Street Sheffield S11 8HA

Page 2

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

The chairman presents his statement for the year.

The last year has been one of planning and gentle development at the John Eastwood Hospice as it prepares itself for future challenges and change. The Trust has maintained its reputation for clinical and pastoral care and, as per its strategy document, which is constantly reviewed, there has been a continued emphasis on the quality of facilities and services. The key aspect of our strategy is that of strategic reputation through excellence in services and facilities.

These aims are in part satisfied by our continued support of our NHS colleagues by funding an increased number of posts including a: time limited, psychology post and a nurse research post. We aim to provide and maintain excellent services supported by evidence and research as evidenced by the Board’s willingness to pump-prime research bids for our clinical colleagues. We also support our NHS colleagues with a generous training budget, all of these funds are on top of the NHS provision, which we consider important to enhance our services and benefit our patients. These aims have been the key messages in our Strategy document which underpins our agenda and is updated annually, as alluded to above, with a new document being developed in 2024.

The governance of the Trust has always been a key issue and this year further improvements have been made. This year we have appointed a new Chair, Deputy Chair and Treasurer from existing trustees who bring a variety of experience to these positions. In addition appointments have been made, which enhance the governance in the areas of: business; healthcare management; human resource management; legal; and aspects of building care and maintenance. We now feel we have a strong board with an appropriate mix of skills for the challenges ahead. As well as these new appointments, considerable work has been undertaken on systems and training for trustees and staff to improve our governance framework. Also we have new staff members appointed to support our manager, they are all full of enthusiasm and very focused on their roles to the benefit of the Hospice. Lastly, and importantly, our senior manager is undertaking and is successfully completing a senior management course.

The keystone of any charitable organisation, is of course, the volunteers. Over the last year considerable work has been made with regard this important group. The Board has ensured that regular meetings are held between staff, volunteers and Board members to enable understanding of the issues and opportunities that the organisation is facing. The nature of the roles is constantly under review and work has been undertaken on the roles and skill mix required for our activities. Although the numbers of volunteers have decreased we are satisfied that the numbers and skills mix is now more pertinent to the needs of the Hospice.

Fundraising has continued to improve over the last year with an event organised almost monthly by members of the Trust’s staff supported by volunteers and some trustees. These events are very varied to appeal to as many members of the public as possible and have ranged from a dog show to well-being evenings and our Annual Hospice Ball. The local community continues to be very supportive of the Hospice although we acknowledge that it is mainly the mature population, often relatives or users of our services who are the main supporters. With this in mind we now use social media as the main method of advertising our services and events to a wider audience and to support this; new policies have been developed. These events have changed in terms of quality and their ability to generate funds. The social media and quality not only brings in funds but these events provide further promotion of the charity as to what we offer and our ethos. We have appointed a new role to assist with this work. Our newly strengthened Fund Raising Team have developed links with local organisations and, indeed, one global retail organisation, which has significantly altered our retail offer in terms of quality. Our shops, owing to the general malaise of our high streets have struggled to maintain their income streams, however, these are currently under review.

Page 3

JOHN EASTWOOD HOSPICE TRUST (a company limited by guarantee)

CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Our relationship with the NHS has changed significantly and strengthened over the last few years: we now have regular meetings between our manager and head of service and a joint NHS and Trust communications meeting monthly as well as quarterly Liaison service meetings with the Commissioners and Heads of Service. These were developed as a result of enhancing communications between the services and now this has improved. Trustees are more directly involved and have attended Risk Management training with our NHS colleagues and supported their staff development days. In addition, this year, Trust Board members are taking roles on NHS senior management groups and NHS Boards to improve our understanding of NHS developments and work with them on developing end of life services. These have helped all constituencies.

Financially the Hospice is performing well as identified in the accounts from the Hospice and reports from the investment companies dealing with our funds. Governance in John Eastwood is an important aspect of the organisation. The Board at every meeting examines the finance reports produced by the Treasurer and there is a sound system of budgetary as well as internal control and internal check. Income from activities is increasing, however, as already stated the retail outlets are not all performing to targets and are therefore under review. There is a sound governance framework in place covering all aspects of risk: financial and otherwise. An area of financial risk is that of legacies. In past years donated estates, or part thereof, have been significant and has been responsible for considerable sums donated to the Hospice. Owing to demographics and financial problems facing the UK, these may deteriorate in quantity and amount in future years. In response to this challenge, as already stated in this report, the Trust is constantly reviewing new income streams as a potential future replacement should expectations of legacy reductions prove to occur.

Our investments are tightly controlled and split between two investment firms who present to the board their performance regularly and are held to account. The two organisations’ performance, on returns on our investments, are compared to ensure the quality of their work. The remit to both investment houses is that we have medium risk associated with our investments and that they should be ethical in nature. We have instructed both that we expect a balance of deontological and utilitarianism with regard ethics for investment decisions taken on our behalf. We have strict controls on the balance of funds that must be maintained at all times.

The next few years are expected to be challenging and perhaps defining for the future direction of the Hospice. The Hospice is in the process of developing its estate over the next few years and this is taking considerable energy of all involved in the management of the organisation. Initial ideas and plans are currently being developed, however, the exact nature of services are being reviewed by the NHS and until these are solidified and formally agreed the real development work cannot start. As identified earlier in this report we are working closely to understand and influence where possible the decisions to be made. During this process all governance will be undertaken to the highest quality possible.

D Harradine FMAAT, ACMA, CGMA, MBA(d), PGCert.(SSRM), PhD. FHEA Chair of Trustees Date: 14 August 2024

Page 4

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report together with the audited financial statements of the company for the year 1 April 2023 to 31 March 2024. The annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) as amended by Update Bulletin 2 (effective January 2019).

Since the company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The memorandum and articles incorporate the following mission statement:

"To support County Health Partnerships or any successor body having responsibility for the provision of palliative care services in the area served by the NHS trust, in the organisation and delivery of palliative care services both in the "John Eastwood Hospice" ("the hospice") and in the community by:

The recruitment, training and organisation of a team of volunteers to support and supplement the professional care staff in the hospice and the community in order to enhance the environment and quality of life for patients and their families.

The provision of resources so as to enable patients and their families to receive those additional and/or superior services and support which may from time to time not be provided by County Health Partnerships or its successor.

To develop, extend and improve the facilities and services available both within the hospice and the community for the benefit of patients and their families.

To support and encourage education and training for those engaged in the organisation, delivery and support of palliative care services both within the hospice and in the community".

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives.

In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Page 5

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (continued)

b. Volunteers

The hospice trust continues to benefit from a strong team of volunteers. At the end of March, there were 92 registered volunteers operating in the following areas:

Reception Day care Day-patient drivers Nurses station Day care office Tea bar Clerical duties Library assistants Flower care Hairdressing Charity shops Support groups

Achievements and performance

a. Review of activities

These are summarised in the chairman's statement.

b. Investment policy and performance

The trustees take a long term view in relation to the charity's investment strategy and aim to grow its financial resources over time by maximising the toal return generated by the portfolio based on a mandate of capital growth and medium risk.

No investment should be made directly in the shares of companies whose primary revenues are derived from tobacco.

Financial review

a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Page 6

JOHN EASTWOOD HOSPICE TRUST (a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

b. Reserves policy

The charity needs reserves to enable it to meet both its ongoing commitments in respect of its general charitable activities and to meet its future operating requirements. The level of total reserves £9,736,417 (2023: £9,146,270) is judged appropriate for the present situation and needs of the charity. Of this £3,403,218 is currently held for the build project, expected to commence during the next financial year, which could be the biggest project since the Trust was built almost 40 years ago. The ongoing free reserves target is 24 months' worth of operational expenses. The trustees will review this position and policy on an annual basis.

The charity currently has 2 restricted reserves; £53,650 (2023: £56,600) in a training fund and £2,264 (2023: £3,163) to improve the garden area.

c. Principal risks and uncertainties

The trustees are responsible for the management of the risks faced by the hospice. Risks are identified and assessed, and controls established, throughout the year. Regular health and safety inspections are performed and improvements acted upon. The trustees are satisfied that the major risks identified have been adequately mitigated where necessary.

Structure, governance and management

a. Constitution

John Eastwood Hospice Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 26 May 2006, as amended by written resolution dated 22 August 2006.

b. Methods of appointment or election of trustees

The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Memorandum of Association.

Trustees are appointed for an initial three-year term of office, following which they may seek re-election for two further three-year terms. They serve a maximum of nine years.

Page 7

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

The trustees are responsible for strategic decisions regarding the objectives and future operation of the charity.

They initiate plans for major capital projects, approve investment policies and determine policy for the funding of hospice support initiatives. The hospice trust manager, Tracey Joyce is responsible for day-to-day management decisions.

The Trustees actively engage with the Charity Code of Governance reviewing on an annual basis the extent to which the Charity applies the recommendations of the Code and implements any improvements identified.

Trustees:

The trustees are appointed in accordance with the memorandum and articles of association. The trustees are responsible for the overall governance of the charity. Trustees are elected on the recommendation of fellow directors. One third of the trustees shall retire at each annual general meeting. The following existing trustees will retire and will be seeking re-election:

D Harradine, P Tootell, A Haggerty

d. Financial risk management

The trustees are responsible for the management of the risks faced by the hospice. Risks are identified and assessed, and controls established, throughout the year. The trustees are satisfied that the major risks identified have been adequately mitigated where necessary.

Plans for future periods

The trust aims to provide a calm and pleasant environment in which to provide high quality compassionate care for our patients, families and friends.

Information on fundraising practices

The charity employs a Fundraising and Events Manager who is responsible for all fundraising activities undertaken on behalf of the charity, both in the hospice and in the community. She is not a professional fundraiser. There has been no undertaking for her to be bound by any voluntary scheme or voluntary standard of fundraising in respect of those activities.

Fundraising activities are not monitored, but any new initiatives will be subject to the approval of the Chief Executive Officer.

No complaints have been received in respect of any fundraising activities undertaken.

The charity does not support ‘aggressive’ fundraising. We would never approach individuals either face to face or by telephone for the purpose of procuring money. Our annual mail out is in the form of a newsletter and calendar of events.

Page 8

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Statement of trustees' responsibilities

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

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

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are trustees at the time when this trustees' report is approved has confirmed that:

Auditor

The auditor, Barnett & Turner Accountants Ltd, has indicated its willingness to continue in office. The designated trustees will propose a motion reappointing the auditor at a meeting of the trustees.

Approved by order of the members of the board of trustees on 14 August 2024 and signed on their behalf by:

D Harradine

(Chair of Trustees)

Page 9

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF JOHN EASTWOOD HOSPICE TRUST

Opinion

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

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Page 10

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF JOHN EASTWOOD HOSPICE TRUST (CONTINUED)

Other information

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

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

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

Page 11

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF JOHN EASTWOOD HOSPICE TRUST (CONTINUED)

Responsibilities of trustees

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

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 12

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF JOHN EASTWOOD HOSPICE TRUST (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our planning process:

The key procedures we undertook to detect irregularities including fraud during the course of the audit included:

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

Page 13

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF JOHN EASTWOOD HOSPICE TRUST (CONTINUED)

Use of our report

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

Jonathan Wilson (senior statutory auditor)

for and on behalf of

Barnett & Turner Accountants Ltd

Statutory Auditor Cromwell House 68 West Gate Mansfield Nottinghamshire NG18 1RR

29 August 2024

Page 14

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Donations and legacies
3
Other fundraising activities
4
Investments
5
Total income
Expenditure on:
Raising funds
6,7
Charitable activities
8
Total expenditure
Net income/(expenditure) before net
gains/(losses) on investments
Net gains/(losses) on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
444,898
424,917
128,779
998,594
225,868
522,273
748,141
250,453
343,543
593,996
9,086,507
593,996
9,680,503		 Restricted
funds
2024
£
21,396
-
-
21,396
-
25,245
25,245
(3,849)
-
(3,849)
59,763
(3,849)
55,914		 Total
funds
2024
£
466,294
424,917
128,779
1,019,990
225,868
547,518
773,386
246,604
343,543
590,147
9,146,270
590,147
9,736,417		 Total
funds
2023
£
595,198
398,066
106,074
1,099,338
193,042
464,759
657,801
441,537
(381,132)
60,405
9,085,865
60,405
9,146,270

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

The notes on pages 18 to 33 form part of these financial statements.

Page 15

JOHN EASTWOOD HOSPICE TRUST (a company limited by guarantee) REGISTERED NUMBER: 05829735

BALANCE SHEET AS AT 31 MARCH 2024

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Investments
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets
Total net assets
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds		 30,756
169,406
206,362
406,524
(10,899)		 2024
£
3,444,751
5,896,041
9,340,792
395,625
9,736,417
55,914
9,680,503
9,736,417		 3,256
169,406
143,572
316,234
(10,306)		 2023
£
3,576,518
5,263,824
8,840,342
305,928
9,146,270
59,763
9,086,507
9,146,270

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

The financial statements were approved and authorised for issue by the trustees on 14 August 2024 and signed on their behalf by:

S Kerr

Treasurer

The notes on pages 18 to 33 form part of these financial statements.

Page 16

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Note
Cash flows from operating activities
Net cash provided by operating activities
20
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of investments
Net cash used in investing activities
Cash flows from financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
21
The notes on pages 18 to 33 form part of these financial statements		 2024
£
271,452
(8,662)
(200,000)
(208,662)
62,790
312,978
375,768		 2023
£
517,166
(49,087)
(550,000)
(599,087)
(81,921)
394,899
312,978

Page 17

(a company limited by guarantee)

JOHN EASTWOOD HOSPICE TRUST

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

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity is a company limited by guarantee, which is incorporated and registered in England (registration number: 05829735). The registered office address is Mansield Road, Sutton-inAshfield, Nottinghamshire. NG17 4HJ.

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

1.2 Going concern

At the date of signing there is a degree of uncertainty about the full economic impact of the cost of living and wider geopolitical landscape. The trustees continue to monitor the position closely however they believe that the company can continue at its current level of activity and that the current level of reserves are satisfactory to address the Trust's objectives and future plans. They therefore continue to adopt the going concern basis.

1.3 Income

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

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured.

Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.

Page 18

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

1. Accounting policies (continued)

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £1000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

No depreciation is provided on freehold land.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following bases:

Freehold property - straight line over 50 years
Motor vehicles - 25% straight line basis
Fixtures and fittings - 25% straight line basis

Page 19

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

1. Accounting policies (continued)

1.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the statement of financial activities.

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid.

1.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

1.11 Financial instruments

The company only has financial assets and financial liabilities 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.12 Operating leases

Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the lease term.

1.13 Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Page 20

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

1. Accounting policies (continued)

1.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company 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 statements.

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

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

1.15 Support groups

The various support groups are regarded as autonomous. The financial statements do not include the activities of these groups, but donations from them are included in income as received.

2. General information

John Eastwood Hospice Trust is a company limited by guarantee, registered in England and Wales, registration number 05829735 and a charitable company registered with The Charity Commission, registration number 1117576.

In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.

Page 21

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

3. Income from donations and legacies

Donations
Legacies
Grants
Total 2023		 Unrestricted
funds
2024
£
166,086
278,812
-
444,898
589,395		 Restricted
funds
2024
£
21,396
-
-
21,396
5,803		 Total
funds
2024
£
187,482
278,812
-
466,294
595,198		 Total
funds
2023
£
209,430
379,965
5,803
595,198

4. Income from other trading activities Income from fundraising events

Charity shops, seasonal fairs and other activities
Support groups
Total 2023		 Unrestricted
funds
2024
£
377,939
46,978
424,917
398,066		 Total
funds
2024
£
377,939
46,978
424,917
398,066		 Total
funds
2023
£
354,830
43,236
398,066

Page 22

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

5. Investment income

Unrestricted
funds
2024
£
Income from listed investments
121,443
Bank and building society interest
7,336
128,779
Total 2023
106,074		 Total
funds
2024
£
121,443
7,336
128,779
106,074		 Total
funds
2023
£
104,674
1,400
106,074

6. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted
funds
2024
£
Promotional materials and supplies
11,743
Rent and rates
25,201
Tea bar and shop supplies
2,616
Other costs
33,984
Voluntary income staff costs
115,927
189,471
Total 2023
156,978		 Total
funds
2024
£
11,743
25,201
2,616
33,984
115,927
189,471
156,978		 Total
funds
2023
£
14,169
25,004
1,708
9,736
106,361
156,978

Page 23

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

7. Investment management costs

Investment management fees
Total 2023		 Unrestricted
funds
2024
£
36,397
36,064		 Total
funds
2024
£
36,397
36,064		 Total
funds
2023
£
36,064

8. Analysis of expenditure on charitable activities

Summary by cost type

Volunteers' travelling expenses
Building, furniture, equipment and
maintenance
Insurance
NHS staff costs
Telephone, postage, printing and stationery
NHS catering subsidy
Other costs
Wages and salaries
Depreciation
Accountancy and audit fees
Total 2023		 Unrestricted
funds
2024
£
3,110
34,568
21,427
149,118
28,615
15,499
24,428
99,079
140,429
6,000
522,273
460,337		 Restricted
funds
2024
£
-
899
-
-
-
-
24,346
-
-
-
25,245
4,422		 Total
2024
£
3,110
35,467
21,427
149,118
28,615
15,499
48,774
99,079
140,429
6,000
547,518
464,759		 Total
2023
£
102
77,748
17,810
56,402
25,667
16,316
29,998
95,677
139,039
6,000
464,759

Page 24

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

9. Auditor's remuneration

2024 2023
£ £
Fees payable to the company's auditor for the audit of the company's
annual accounts 3,000 3,000
Fees payable to the company's auditor in respect of:
All non-audit services not included above 3,000 3,000

10. Staff costs

The average number of persons employed by the company during the year was as follows:

Charitable activities
Costs of generating voluntary income		 2024
No.
4
6
10		 2023
No.
3
6
9

No employee received remuneration amounting to more than £60,000 in either year.

Key management salaries amounted to £46,650 (2023: £46,650), employer's national insurance of £5,222 (2023: £5,652) and pension costs of £2,799 (2023: £2,799).

11. Wages and salaries

Wages and salaries
Employers national insurance
Employers pension costs
Total 2023		 Unrestricted
funds
2024
£
192,285
14,881
7,840
215,006
202,038		 Total
funds
2024
£
192,285
14,881
7,840
215,006
202,038		 Total
funds
2023
£
178,503
15,415
8,120
202,038

Page 25

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

12. Trustees' remuneration and expenses

During the year, no trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 March 2024, no trustee expenses have been incurred (2023 - £NIL).

13. Tangible fixed assets

Cost or valuation
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Freehold
property
£
4,755,718
-
4,755,718
1,268,094
84,406
1,352,500
3,403,218
3,487,624		 Motor
vehicles
£
45,207
-
45,207
45,207
-
45,207
-
-		 Fixtures and
fittings
£
588,593
8,662
597,255
499,699
56,023
555,722
41,533
88,894		 Total
£
5,389,518
8,662
5,398,180
1,813,000
140,429
1,953,429
3,444,751
3,576,518

Included in land and buildings is freehold land at cost of £535,399 which is not depreciated.

Page 26

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

14. Fixed asset investments

Cost or valuation
At 1 April 2023
Additions
Disposals
Revaluations
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
15.
Debtors
Prepayments and accrued income
16.
Current asset investments
Unlisted investments		 2024
£
30,756		 Listed
investments
£
5,263,824
321,442
(32,768)
343,543
5,896,041
5,896,041
5,263,824
2023
£
3,256
2023
£
169,406		 Listed
investments
£
5,263,824
321,442
(32,768)
343,543
5,896,041
5,896,041
5,263,824
2023
£
3,256
2023
£
169,406
2024
£
169,406		 2023
£
169,406

Page 27

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

17. Creditors: Amounts falling due within one year

Other creditors
Accruals and deferred income		 2024
£
900
9,999
10,899		 2023
£
978
9,328
10,306

Page 28

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

18. Statement of funds

Statement of funds - current year

Unrestricted
funds
Designated
funds
Land and
Buildings Fund
General funds
General Fund
Total
Unrestricted
funds
Restricted
funds
Training Fund
Garden fund
Total of funds		 Balance at 1
April 2023
£
3,487,624
5,598,883
9,086,507
56,600
3,163
59,763
9,146,270		 Income
£
-
998,594
998,594
21,396
-
21,396
1,019,990		 Expenditure
£
-
(748,141)
(748,141)
(24,346)
(899)
(25,245)
(773,386)		 Transfers
in/out
£
(84,406)
84,406
-
-
-
-
-		 Gains/
(Losses)
£
-
343,543
343,543
-
-
-
343,543		 Balance at
31 March
2024
£
3,403,218
6,277,285
9,680,503
53,650
2,264
55,914
9,736,417

Page 29

(a company limited by guarantee)

JOHN EASTWOOD HOSPICE TRUST

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

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Land and
Buildings Fund
General funds
General Fund
Total
Unrestricted
funds
Restricted
funds
Training Fund
Garden fund
Total of funds		 Balance at
1 April 2022
£
3,572,030
5,455,453
9,027,483
58,382
-
58,382
9,085,865		 Income
£
-
1,093,535
1,093,535
-
5,803
5,803
1,099,338		 Expenditure
£
-
(653,379)
(653,379)
(1,782)
(2,640)
(4,422)
(657,801)		 Transfers
in/out
£
(84,406)
84,406
-
-
-
-
-		 Gains/
(Losses)
£
-
(381,132)
(381,132)
-
-
-
(381,132)		 Balance at
31 March
2023
£
3,487,624
5,598,883
9,086,507
56,600
3,163
59,763
9,146,270

The land and building fund represents the amount of charity funds locked up in freehold property held for operational purposes, and is equivalent to its year-end book amount.

The general fund represents the charity's reserves held as working capital for general operational purposes.

The training fund represents amounts received from local authorities and set aside by the trust to be spent on staff training.

The garden fund represents a grant that was received to enhance the garden area at the Hospice.

Page 30

(a company limited by guarantee)

JOHN EASTWOOD HOSPICE TRUST

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

19. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Tangible fixed assets
3,444,751
Fixed asset investments
5,896,041
Current assets
350,610
Creditors due within one year
(10,899)
Total
9,680,503		 Restricted
funds
2024
£
-
-
55,914
-
55,914		 Total
funds
2024
£
3,444,751
5,896,041
406,524
(10,899)
9,736,417

Analysis of net assets between funds - prior period

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2023
£
3,576,518
5,263,824
256,471
(10,306)
9,086,507		 Restricted
funds
2023
£
-
-
59,763
-
59,763		 Total
funds
2023
£
3,576,518
5,263,824
316,234
(10,306)
9,146,270

Page 31

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
(Gains)/losses on investments
Dividends, interests and rents from investments
(Increase)/decrease in debtors
Increase in creditors
Net cash provided by operating activities
21.
Analysis of cash and cash equivalents
Cash in hand
Notice deposits (less than 3 months)
Total cash and cash equivalents
22.
Analysis of changes in net debt		 2024
£
590,147
140,429
(343,543)
(88,675)
(27,500)
594
271,452
2024
£
206,362
169,406
375,768		 2023
£
60,405
139,039
381,132
(71,058)
6,669
979
517,166
2023
£
143,572
169,406
312,978
Cash at bank and in hand
Liquid investments		 At 1 April
2023
£
143,572
169,406
312,978		 Cash flows
£
62,790
-
62,790		 At 31 March
2024
£
206,362
169,406
375,768

Page 32

JOHN EASTWOOD HOSPICE TRUST

(a company limited by guarantee)

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

23. Capital commitments

2024 2023
£ £
Contracted for but not provided in these financial statements
Acquisition of tangible fixed assets - 12,246

24. Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £6,984 (2023 - £8,120). There was £900 (2023 - £978) payable to the fund at the balance sheet date.

25. Operating lease commitments

At 31 March 2024 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2024
£
3,000
24,750
27,750		 2023
£
3,000
27,750
30,750

26. Related party transactions

There are no transactions with related parties to disclose during the year.

Page 33