Sobell House Hospice Charity Limited (limited by guarantee)
Registered Charity No: 1118646 Registered Company No: 05989017
Consolidated Accounts for the year ended 31st March 2026
Wenn Townsend Chartered Accountants
Oxford
Sobell House Hospice Charity Ltd. Registered Charity No. 1118646. Company No. 5989017. Registered in England and Wales. Registered Office: 30 St Giles, Oxford OX1 3LE. www.sobellhouse.org
Sobell House Hospice Charity Limited
Reference and administrative details
| Registered Office: | 30 St Giles |
|---|---|
| Oxford | |
| OX1 3LE | |
| Principal Office: | Sobell House |
| Churchill Hospital | |
| Headington | |
| Oxford | |
| OX3 7LE | |
| Bankers: | The Cooperative Bank plc |
| 1 Balloon Street | |
| Manchester | |
| M4 4BE | |
| Solicitors: | Blake Morgan LLP |
| Seacourt Tower | |
| West Way | |
| Oxford | |
| OX2 0FB | |
| BWH Legal | |
| Ashbrook House | |
| Westbrook Street | |
| Blewbury | |
| Didcot | |
| Oxfordshire | |
| OX11 9QA | |
| Auditors: | Wenn Townsend |
| Chartered Accountants and Registered Auditors | |
| 30 St Giles | |
| Oxford | |
| OX1 3LE | |
| Investment Advisers: | Quilter Cheviot Limited |
| 1 Kingsway | |
| London | |
| WC2B 6AN |
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Sobell House Hospice Charity Limited
Trustees' Annual Report for the year ended 31st March 2026
Foreword
The Trustees, who act as directors for the purposes of company law, of Sobell House Hospice Charity Limited (the Charity), present their annual report together with the audited financial statements for the Charity and its two subsidiary companies. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the Charity and the Group.
The Trustees and officers of the Charity
The names of the members of this body who acted during the year ended 31st March 2026 together with changes subsequent to that date are as follows:
| Finance Committee |
Trading Advisory Committee |
Investment Committee |
Remuneration Committee |
Fundraising and Comms Committee |
|
|---|---|---|---|---|---|
| Mr Ian Miles(Chairman) | x | x | x | ||
| Mr Peter Holloran(Treasurer) | x | x | x | ||
| Mr GregBirdseye | x | ||||
| Mr Duncan Crine | x | ||||
| Mrs Elizabeth Drew | x | ||||
| Mr Hugh Fraser | x | x | |||
| Dr Tim Littlewood | x | ||||
| Mrs Sandra Nash | x | x | x | ||
| Mr Michael Wells | x | ||||
| Ms Caroline Dewing | Appointed 05.05.26 | ||||
| Ms Jane Maitland | Appointed 05.05.26 | ||||
| Mrs Sarah Wilson | Appointed 05.05.26 | ||||
| Ms Julie Findley | Resigned 06.10.25 | ||||
| Mrs Vivienne Rust(Spurge) | Resigned 04.11.25 | ||||
| Ms A Foster(CEO and CompanySecretary) | X | x | x | x | x |
Objectives and activities for the public benefit
The key element of the Charity’s medium-to-long-term strategy is to provide on-going funding to Sobell House (The Hospice) and its associated services. The Hospice is an NHS hospice which has been providing care since 1976 for people in Oxfordshire with life-limiting illnesses. The Charity has provided financial support from the outset. The Hospice building is leased by the Charity to the NHS.
In the year ending 31st March 2026, the Charity provided ongoing funding to the Hospice totaling £3.27 million (last year £3.3 million). This amount includes a contribution to core funding, as well funding for additional services to augment those offered by the Hospice and includes transport, catering, pastoral support and staff training and supervision. For more information on amounts spent, please see the SOFA on page 11.
The Charity measures the success of its strategy in two ways:
Within the Hospice: the grant from the Charity allows the Hospice to provide a broader range of services and higher level of care to a greater number of people in Oxfordshire than would otherwise be possible using only the NHS provision for this type of service.
Within the Charity: fundraising results are measured against the previous year while being compared to external benchmarks and the budgets determined by the Charity staff and agreed with Trustees. The Trustees also closely monitor the performance of the investment portfolio and obtain advice from their broker relating to investment matters.
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Sobell House Hospice Charity Limited
Trustees’ Annual Report (continued)
for the year ended 31st March 2026
Objectives and activities for the public benefit (continued)
Voluntary help
Sobell House Hospice Charity Limited upholds the important principle that the Hospice is a community-owned organisation. There are a range of fundraising activities held in partnership with local people, such as organising events, operating seven Charity Shops, two warehouses and a Lottery through the Local Hospice Lottery. The generous support of our volunteers, with all of these activities and office administration, enables the Charity to continue to support the Hospice at its current level and agree to increase support for innovation in palliative and endof-life care.
The Trustees wish to thank the volunteers for all their contributions. The Trustees also acknowledge that, without the time given by volunteers, the Charity would not be able to provide as much funding for the day-to-day running of the Hospice, let alone be able to support the development of other areas to care for those with life-limiting illnesses.
Fundraising standards information
Members of the Charity’s fundraising department organise events and carry out fundraising activities in order to generate funds for the charity. The Charity does not use professional fundraisers but does work with Local Hospice Lottery as a commercial participator to carry out its Lottery under a formal agreement. There have been no complaints about fundraising activity this year. The charity has signed up to the Fundraising Regulator’s Code of Fundraising Practice.
All the charity’s marketing activities are undertaken directly to ensure that it is not unreasonably persistent or intrusive. Direct marketing materials contain clear details of how to unsubscribe to future communications and care is taken to limit the level of communications being sent out.
Public benefit statement
The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
Strategic Report
Achievements and performance
With the Charity’s support, the Hospice has extended help to the following numbers of patients over the last five years:
| 2025/2026 | 2024/2025 | 2023/2024 | 2022/2023 | 2021/2022 | |
|---|---|---|---|---|---|
| Total home visits | 3,255 | 2,925 | 2,766 | 2,652 | 2,340 |
| Medical outpatients | 410 | 384 | 260 | 167 | 108 |
| Lymphoedema(attendances) | 1,832 | 1,979 | 1,669 | 2,270 | 1,782 |
| Day service attendances | 654 | 636 | 488 | 310 | 32 |
| Telemed and video contacts | 12,238 | 9,749 | 5,888 | 5,366 | 6,868 |
| **Total Hospice bed days ** | 7,084 | 6,733 | 6,736 | 6,150 | 4,885 |
| Hospital specialist team referrals | 2,970 | 2,976 | 2,607 | 2,206 | 2,344 |
| Bereavement appointments / contacts | 1,056 | 837 | 558 | 230 | 164 |
| Referrals accepted for Home Hospice | 646 | 691 | 672 | 565 | |
| Patients in Home Hospice service | 446 | 519 | 539 | 444 |
While caring for such significant numbers of people, the Hospice maintains the ethos that the individual is of primary importance. The Hospice is not a place dominated by illness, but a place where people overcome pain and fear, and its services support people to live as well as they can for as long as they can. The service is completely free to those in our community who may need it, regardless of their beliefs, race, age, sex, or sexual orientation.
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Sobell House Hospice Charity Limited
Trustees’ Annual Report (continued) for the year ended 31st March 2026
Achievements and performance (continued)
As well as contributing £1.95 million (last year £1.3 million) to the funding of the day-to-day running of the hospice’s services in the In-Patient Unit (IPU), and across OUH hospitals and in the community, Sobell House Hospice Charity continues to fund projects and activities that ensure we are offering holistic support to our patients and their loved ones and carers.
On 1st April 2022, a new project – Rapid Intervention in Palliative and End of Life Care (RIPEL) – was launched in Oxfordshire and South Northamptonshire, co-funded by Sobell House Hospice Charity and Macmillan Cancer Support (through a social impact bond from Social Finance). In 2021-22, the Trustees entered into a grant agreement with OUH NHSFT to provide £3.1 million of funding over three years to support this project. In 2025-2026, the RIPEL project received a five-month extension, and continued to be funded by Sobell House Hospice Charity and Macmillan Cancer Support, with the funding ceasing in August 2025.
Over the three years and five months of the project, more than 12,000 patients across Oxfordshire were referred to RIPEL to utilise the specialist palliative care hub, hospice outreach team, rapid hospital response service and handson hospice care at home. From launch to the end of the project in August 2025. During the project 33,484 nonelective bed days were saved, meaning that, on average, patients spent an extra 9.94 days at home rather than in hospital. Furthermore, during the final 11 months of the project (September 2024 to August 2025), 15,180 bed days were saved – an average of 11.30 per patient. These outcomes are worth £12.2 million in total – of which £4.2m is attributable to Sobell House Hospice Chairty’s funding. It was a key success metric of the project to have been able to offer savings to the wider NHS as well as realising our aim of supporting people to die at home, if that was their choice, thereby improving patient outcomes. Two of the three elements of the project – the virtual hospice and the home hospice care team have become part of ‘business as usual’ for Palliative and End of Life Care service at OUH.
In the hospice building, we have completed a project to renovate our family room, making it a warm and welcoming space that meets the diverse needs of our patients and visitors and helps families find community at one of the most difficult times of their lives. We also utilised the second tranche of a grant from the Department for Health and Social Care (£303,025) to refurbish two patient bathrooms. As well as installing a hairdressing station, colour changing LED lighting, Bluetooth speakers, we commissioned two nature inspired murals to enhance the patient experience, paid for by a separate gift. With the DHSC funding, we also repainted all of the patient rooms, refloored some of the rooms, replaced the Sanctuary roof and refitted, refurnished and soundproofed the Community Palliative Care Team office, making it a space that is now fit for purpose and that is comfortable to work in.
We continued to support OxMINT, the Oxford Metastatic INtervention Team. The OxMINT team brings together palliative medicine consultants, clinical oncologists, radiology, spinal surgery, orthopaedics, neurosurgery, and anaesthetists to provide a coordinated response for patients with painful disease related to metastatic cancerous deposits in their bones. In addition, SHHC funds the Oxford Palliative Care Academic Unit which sits within the Experimental Medicine Division of the Nuffield Department of Medicine, University of Oxford and has its clinical base within the Palliative Medicine department. The overall aim of its palliative care research strategy is to enable the PEoLC service to become a ‘research active’ palliative care organisation, to help nurture a culture of inquiry and scholarship, and to maximise the potential opportunities for collaboration that are available within and beyond Oxford.
The Charity is committed to identifying and reducing health inequalities so that everyone in our catchment area can access our services and experience equitable care. We work across our charity and clinical teams and with our partners to understand the systems that cause these inequalities and working to dismantle them. Our inclusion project has improved the ability of marginalised communities to effectively access health care and has given confidence to frontline teams in identifying and supporting clients with deteriorating health. 14 people were directly supported through this project in 25/26.
The Charity has reviewed and amended its Memorandum and Articles of Association to remove a reference to a geographic area to reflect that the NHS service areas change, as well as introducing terms of office for Trustees.
Financial review
The income from general donations and events decreased slightly from £1.49 million in 2025 to £1.45 million in 2026. In addition, significant specific restricted-fund support was received in the year, totaling £0.38 million. The Trustees are very grateful to all those who support the Hospice with gifts and legacies.
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Sobell House Hospice Charity Limited
Trustees’ Annual Report (continued) for the year ended 31st March 2026
Financial review (continued)
Income from legacies decreased from £0.74 million in 2025 to £0.61 million in 2026. Legacy income streams are by their nature uncertain. However, they allow the charity to consider the funding of additional and developmental projects for the benefit of the Hospice service.
Trading income from the shops decreased from £2.06 million in 2025 to £1.94 million in 2026. The charity continues to review its trading activity and has developed a new retail strategy focused on creating a portfolio of shops at the optimal operational size, as evidenced by performance, and revamping our premises to ensure they reflect the current retail context. The collaboration with the Local Hospice Lottery, a consortium carrying on a lottery on behalf of hospices throughout the United Kingdom, is continuing.
Investment policy and powers
The Trustees are empowered by their Constitution to invest all funds not required for immediate application in any lawful manner at their discretion, and for this purpose to delegate the management of the investments to our professional investment managers, Quilter Cheviot Limited.
The investment objective, as agreed by the Trustees, is to achieve sufficient capital and income growth, which over the long term will maintain the real value of the assets. The Trustees continue to review their Investment Policy which holds separate portfolios for the Investment and Reserves Funds. On completion of the building project, the funds were rebalanced to reflect the level of reserves the Trustees felt were necessary to protect the Charity’s ongoing commitments. There are no specific restrictions on investments other than that they should be suitable for the Charity. In addition, £1.0 million in cash was drawn down from our investments and put into a CAF/Flagstone cash investment portal to support the Charity’s increased need for cash due to the commitment to fund the RIPEL project and to take advantage of rising interest rates.
Reserves policy
The level of free reserves for the Group at 31 March 2026 was £4.2 million. This includes a total of £2.7 million gains shown on the revaluation reserve, representing total accumulated unrealised gains as at 31 March 2026.
Grants totaling £3.27 million were made to the Hospice and related services this year (last year £3.3 million). The cost of generating those funds, together with support costs, amounted to £2.7 million this year (last year £2.8 million). Future grants are estimated for the year ending 31st March 2027 at £2.5 million with the costs of fundraising and support being estimated at £3.1 million.
The Trustees consider that the appropriate level of free reserves is equivalent to 17 months of budgeted running costs, with a designated fund covering a reasonable period of budgeted grant costs. At 31st March 2026, the estimate of running costs for the next year is £3.1 million. The Charity therefore currently holds approximately 17 months of free reserves on this basis. As a result of this strong financial position, the Trustees have approved a deficit budget for the year ending 31st March 2027 to continue to allow for investment in our retail operations and continue to fund project work within OUH from our designated reserve funds.
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Sobell House Hospice Charity Limited
Trustees’ Annual Report (continued) for the year ended 31st March 2026
Plans for future periods
In 2026-27, the Charity has commissioned, in conjunction with Katharine House Hospice Trust, a strategic review of the Palliative and End of Life Care (PEoLC) services at OUH (Oxford University Hospitals). The aim of this review is to ensure that the clinical care the department offers is fit for the future healthcare needs of our patients in the face of increasing demographic demand and the change in delivery priorities set out in the NHS ten-year plan, and that the service is affordable in the short and medium term in light of income pressures, changes in commissioning structures and the need to meet NHS cost improvement targets.
The review is tasked to look at the external changes set out above as well as the needs and experiences of patients and their families, and the thoughts, opinions and experiences of all staff in the service. The outcome of the strategic review will be implemented from September 2026 onwards, with the full new service model being operational by a target date of 1 April 2027.
Elsewhere, the Charity and the Hospice celebrate their fiftieth anniversary and a year of activities has been planned to celebrate this milestone, ranging from an academic symposium, celebrating Sobell House’s position as an innovator in palliative care, through to a community celebration in the Westgate shopping centre in Oxford, an in-memory 2wevent at Blenheim Palace (Forever Flowers), the burial of a time capsule in the hospice grounds and being a gold partner in this year’s Oxford Half Marathon.
The Charity will enact its new retail strategy to ensure our shops reflect the changing charity retail context, seeing some shops close and others expand, as well as redeveloping some premises so that the shops can continue to be community outposts as well as delivering the income we require.
When the strategic review is complete, SHHC will review its own organisational strategy to ensure it fits with the new plan for service delivery and can deliver the required funding to ensure the future of the service.
Structure, governance and management
The Charitable Company is governed by its Memorandum and Articles of Association which were adopted on incorporation on 6 November 2006. It is registered as a charity with the Charity Commission. The liability of members in the event of a winding up is limited by guarantee to an amount not exceeding £1 per member. At the balance sheet date there were ten members.
The Board of Trustees, when complete, comprises a Chairman, and a Treasurer plus a Vice Chairman and up to nine other members elected at the Annual General Meeting (AGM). New Trustees are appointed for an initial fixed term in office of 3 years, while existing Trustees who have completed 3 years or more in office may be re-appointed for successive fixed terms of up to 3 years each, provided that their total period does not exceed 9 years. There is an exception clause allowing a Trustee who has completed a total period in office of 9 years or more to be reappointed for an exceptional additional fixed term of up to 3 years if the board of Trustees agrees that exceptional circumstances apply and it is in the charity’s best interests to do so.
The Board of Trustees meets four times a year and there are also four sub-committees; the Finance Committee, an Advisory Shops Committee, a Fundraising and Communications Committee, and a Remuneration Committee, which also meet four times a year or as often as is required. All policy and strategy decisions are formally tabled for approval at the Trustees’ quarterly meetings. Decisions concerning the day-to-day running of the Charity are delegated to the Chief Executive Officer and the team of office staff who work under the direction of the Chief Executive.
Trustees are selected via an open application and interview process, to fill particular skill requirements on the Board of Trustees. Prospective Trustees are invited to make a series of introductory visits to the Hospice and Charity offices prior to being formally elected as Trustees. Prior to the appointment of Honorary officers, meetings are arranged with the Chief Executive and relevant staff.
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Sobell House Hospice Charity Limited
Trustees’ Annual Report (continued) for the year ended 31st March 2026
Key Management Personnel Remuneration
The Trustees consider the Board of Trustees, the Chief Executive, and the senior leadership team as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis. All Trustees give of their time freely and no Trustee remuneration was paid in the year. Details of Trustee expenses and related party transactions are disclosed in note 4 to the accounts.
Trustees are required to disclose all relevant interests and in accordance with the Trust’s policy withdraw from decisions where a conflict of interest arises.
The pay of the Chief Executive and senior leadership team is reviewed annually and is normally increased in accordance with average earnings. The remuneration is reviewed to ensure that it is commensurate with similar roles.
Related parties
The Charity has two subsidiary companies.
Sobell Lottery Limited was incorporated on 22nd March 1999 as a wholly owned subsidiary.
Sobell House Hospice Company Limited ceased to be a dormant company on 1st July 2003 and began to trade in bought in goods. The company is limited by guarantee and is a wholly owned subsidiary of the Charity.
Sobell House Hospice Company Limited donates its taxable profits to the Charity each year by Gift Aid. Sobell Lottery Limited remains in use as a party to the agreement with Local Hospice Lottery Limited. LHL donate the lottery proceeds due directly to the Charity.
Risk management
The Trustees continue to review the financial risks facing the Charity with a view to mitigating these.
The principal risks and uncertainties faced by the charity are to ensure that continuity of funding is maintained, particularly in the light of the current cost of living crisis caused by rising inflation, and the rise in the energy price cap. The Trustees are monitoring cash flow and the senior leadership team are in regular contact with our Investment advisors to ensure that a secure cash flow is maintained.
Trustees’ responsibilities in relation to the financial statements
The Trustees (who are also directors of Sobell House Hospice Charity Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual 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 the financial statements for each financial year, which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for the year. In preparing these financial statements, the Trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charities SORP 2019 (FRS 102);
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity and the group will continue in operation.
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Sobell House Hospice Charity Limited
Trustees’ Annual Report (continued) For the year ended 31st March 2026
Trustees’ responsibilities in relation to the financial statements (continued)
The Trustees are responsible for keeping adequate accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and enables them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking any reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware:
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there is no relevant audit information of which the charitable company’s auditors are unaware; and
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the Trustees have taken all the steps that they ought to have taken in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
By order of the Trustees
Mr I Miles Chair of Trustees
28[th] July 2026
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Sobell House Hospice Charity Limited
Independent Auditor’s Report to the Members and Trustees of Sobell House Hospice Charity Limited
Opinion
We have audited the financial statements of Sobell House Hospice Charity Limited (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31st March 2026 which comprise the Consolidated Statement of Financial Activities, the Group and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is 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:
-
give a true and fair view of the state of the group’s and parent charitable company’s affairs as at 31st March 2026, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
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 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 accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and 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.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the directors’ report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:
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adequate and sufficient accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
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the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or
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• certain disclosures of directors’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit;
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Sobell House Hospice Charity Limited
Independent Auditor’s Report to the Members and Trustees of Sobell House Hospice Charity Limited (continued)
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on pages 7 and 8, 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 group’s and parent 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 group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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.
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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:
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Enquiry of management, those charged with governance and the entity’s solicitors around actual and potential litigation and claims;
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Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations; • Reviewing minutes of meetings of those charged with governance;
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
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Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those 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. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Benjamin Hayes FCA (Senior Statutory Auditor) For and on behalf of Wenn Townsend Chartered Accountants and Statutory Auditor 30 St Giles Oxford OX1 3LE
28[th] July 2026
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Sobell House Hospice Charity Limited
Consolidated Statement of Financial Activities (including income and expenditure account) for the year ended 31st March 2026
Restricted General Designated Total Note Funds Funds Funds 2026 £ £ £ £ Income from: Voluntary income: General donations and events 385,148 1,448,308 - 1,833,456 Legacies - 615,243 - 615,243 Activities for generating funds: Shops - sales of goods - 1,944,054 - 1,944,054 Income from lottery - 238,090 - 238,090 Investment income: Bank interest - 17,312 - 17,312 Quoted investment income - 152,549 - 152,549 Total income 385,148 4,415,556 - 4,800,704 Expenditure on: Raising funds: Fundraising and publicity - 621,774 - 621,774 Shops - cost of sales - 1,713,106 - 1,713,106 Office costs - 376,555 - 376,555 2 - 2,711,435 - 2,711,435 Charitable activities: Grants to Sobell House 79,000 1,874,693 - 1,953,693 RIPEL project costs - - 333,384 333,384 Donation to SeeSaw - 36,000 - 36,000 Hospice depreciation 95,592 - 212,249 307,841 Catering service - 199,573 - 199,573 Transport service 9,374 52,866 - 62,240 Bereavement service - 132,405 - 132,405 Fellowship costs - - 398,558 398,558 End of Life Care - - 85,635 85,635 Hospice and Garden Maintenance - 6,325 - 6,325 Hospice EDI 4,500 96,341 - 100,841 Office costs 605 321,071 - 321,676 2 189,071 2,719,274 1,029,826 3,938,171 Total expenditure 189,071 5,430,709 1,029,826 6,649,606 |
Restricted General Designated Total Funds Funds Funds 2025 £ £ £ £ 234,954 1,481,479 - 1,720,933 - 741,265 - 741,265 - 2,066,501 - 2,066,501 - 245,839 - 245,839 - 48,274 - 48,274 - 197,579 - 197,579 234,954 4,780,937 5,020,391 - 748,800 - 748,800 - 1,743,068 - 1,743,068 - 315,575 - 315,575 - 2,807,443 - 2,807,443 48,483 1,286,950 - 1,335,433 24,977 - 975,524 1,000,501 - 36,000 - 36,000 83,157 - 210,953 294,110 - 341,724 - 341,724 - 55,189 - 55,189 - 142,937 - 142,937 - - 272,078 272,078 - - 72,328 72,328 - 18,234 - 18,234 - 56,125 - 56,125 - 315,575 - 315,575 156,617 2,252,734 1,530,883 3,940,234 156,617 5,060,177 1,530,883 6,747,677 |
|---|---|
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Sobell House Hospice Charity Limited
Consolidated Statement of Financial Activities (including income and expenditure account) for the year ended 31st March 2026 (continued)
| Note Net income/(expenditure) before gains/(losses) on investments Realised gains/(losses) on investment assets 7 Unrealised gains/(losses) on investment assets 7 Net income Transfers between funds 12 Net movement in funds Fund balances brought forward at 1st April 2025 Fund balances carried forward at 31st March 2026 |
Restricted General Designated Total Funds Funds Funds 2026 £ £ £ £ 196,077 (1,015,153) (1,029,826) (1,848,902) - 34,076 - 34,076 - 706,940 - 706,940 196,077 (274,137) - (1,107,886) (18,878) 121,960 (103,082) - 177,199 (152,177) (1,132,908) (1,107,866) 1,348,753 4,538,839 10,264,876 16,152,468 1,525,952 4,386,662 9,131,968 15,044,582 |
Restricted General Designated Total Funds Funds Funds 2025 £ £ £ £ 78,337 (274,740) (1,530,883) (1,727,286) - (12,137) - (12,137) - 99,760 - 99,760 78,337 (187,117) (1,530,883) (1,639,663) - 423,900 (423,900) - 78,337 236,783 (1,954,783) (1,639,663) 1,270,416 4,302,056 12,219,659 17,792,131 1,348,753 4,538,839 10,264,876 16,152,468 |
|---|---|---|
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
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Sobell House Hospice Charity Limited
Balance Sheet As at 31st March 2026
| Group Charity Note 2026 2026 £ £ Fixed assets Tangible assets 6 5,463,089 5,463,089 Investments 7 8,995,934 8,995,936 14,459,023 14,459,025 Current assets Stock 17,807 - Debtors 8 960,415 956,597 Short term deposits 332,866 332,866 Cash at bank and in hand 680,630 672,311 1,991,718 1,961,774 Creditors:Amounts falling due within one year 9 (1,406,159) (1,410,406) Net current assets 585,559 551,368 Net assets 15,044,582 15,010,393 Funds: Unrestricted funds General funds 1,618,808 1,618,808 Revaluation reserve 11 2,733,665 2,733,665 Designated funds 12 9,131,968 9,131,968 13,484,441 13,484,441 Restricted funds 12 1,525,952 1,525,952 Non-charitable trading funds 14 34,189 - Total funds 15,044,582 15,010,393 |
Group Charity 2025 2025 £ £ 5,442,572 5,442,572 8,946,911 8,946,913 14,389,483 14,389,485 15,765 - 996,445 993,319 1,114,137 1,114,137 388,829 377,024 2,515,176 2,484,480 (752,191) (812,864) 1,762,985 1,671,616 16,152,468 16,061,101 2,155,493 2,155,493 2,291,979 2,291,979 10,264,876 10,264,876 14,712,348 14,712,348 1,348,753 1,348,753 91,367 - 16,152,468 16,061,101 |
|---|---|
The financial statements were approved by the Trustees on 28[th] July 2026 and signed on their behalf by:
Mr I Miles Chair of Trustees
The notes on pages 15 to 29 form part of the financial statements
Registered Company No: 05989017
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Sobell House Hospice Charity Limited
Consolidated Statement of Cash Flows for the year ended 31st March 2026
| Note | 2026 | 2025 | |
|---|---|---|---|
| £ | £ | ||
| Net cash flow from operating activities | 13 | (945,152) | (1,530,789) |
| ─────── | ─────── | ||
| Cash flow from investing activities | |||
| Payments to acquire tangible fixed assets | (409,770) | (117,614) | |
| Receipts from sales of tangible fixed assets | 3,598 | - | |
| Payments to acquire investments | (1,092,080) | (1,092,943) | |
| Receipts from sales of investments | 1,784,073 | 2,169,554 | |
| Interest received | 17,312 | 48,274 | |
| Dividends received | 152,549 | 197,579 | |
| ─────── | ─────── | ||
| Net cash flow from investing activities | 455,682 | 1,204,850 | |
| ─────── | ─────── | ||
| Net increase/(decrease) in cash and cash equivalents | (489,470) | (325,939) | |
| Cash and cash equivalents at 1st April 2025 | 1,502,966 | 1,828,905 | |
| ─────── | ─────── | ||
| Cash and cash equivalents at 31st March 2026 | 1,013,496 | 1,502,966 | |
| ═══════ | ═══════ | ||
| Cash and cash equivalents consists of: | |||
| Cash at bank and in hand | 680,630 | 909,303 | |
| Short term deposits | 332,866 | 593,663 | |
| ─────── | ─────── | ||
| Cash and cash equivalents at 31st March 2026 | 1,013,496 | 1,502,966 | |
| ═══════ | ═══════ |
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Sobell House Hospice Charity Limited
Notes to the Accounts
for the year ended 31st March 2026
1. Accounting policies
The following accounting policies have been used consistently in dealing with items which are considered to be material in relation to the Charity's and the Group’s accounts.
(a) General information and basis of preparation Sobell House Hospice Charity Limited is a charitable company limited by guarantee in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are noted in the Trustees Report.
These accounts have been prepared on an accruals basis and include income and expenditure as they are earned or incurred, rather than as cash is received or paid. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The financial statements are prepared in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Fund accounting Unrestricted funds consist of a general fund which the Trustees may use, for the furtherance of the objects of the Charity, at their discretion.
Designated funds are unrestricted funds which have been allocated for future expenditure for a specific purpose by the Trustees.
Restricted funds are subject to specific conditions imposed by the donor or by the terms of an appeal, these conditions being legally binding upon the Trustees.
(c) Income recognition All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
- 15 -
Sobell House Hospice Charity Limited
Notes to the Accounts
for the year ended 31st March 2026 (continued)
1. Accounting policies (continued)
(c) Income recognition (continued) Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure.
Gifts in kind donated for resale are not considered practicable to fair value due to the volume of low value items, therefore they are not recognised in the financial statements until they are sold. This income is recognised within ‘shops – sales of goods’.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity where it is not possible to reliably estimate the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed as such in the notes to the accounts.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Investment income is earned through holding assets for investment purposes such as shares and investment funds. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the charity’s right to receive payment is established.
d) Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
Fundraising costs are those incurred in seeking voluntary contributions. Governance costs are those incurred in connection with administration of the Charity as a legal entity and are not connected with generating income or charitable expenditure.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
(e) Support costs allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
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Sobell House Hospice Charity Limited
Notes to the Accounts for the year ended 31st March 2026 (continued)
1. Accounting policies (continued)
(f) Tangible fixed assets These assets are shown at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided using the following rates and bases which reflect the anticipated useful lives of the assets and their residual values:
Leasehold premises Equal instalments over lease term Fixtures, fittings and equipment - IT equipment 331/3% straight line - Other 12.5% / 25% straight line Motor vehicles 25% straight line
Surpluses or deficits arising on the disposal of tangible fixed assets are adjusted in the depreciation charge for the year.
A limit of £1,000 has been set so that items of a fixed asset nature will be capitalised if above this amount.
(g) Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains/(losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Investments in subsidiaries are measured at cost less impairment.
Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year.
(h) Stock
Stock consists of purchased goods for resale. Stocks are valued at the lower of cost and net realisable value. Items donated for resale are not included in the financial statements until they are sold, as noted in note (c) as it is not considered practicable to fair value the items. Provision is made for damaged, obsolete and slowmoving stock where appropriate.
(i) Debtors and creditors receivable / payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
(j) Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the surplus or deficit unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
(k) Employee benefit
When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
- 17 -
Sobell House Hospice Charity Limited
Notes to the Accounts for the year ended 31st March 2026 (continued)
1. Accounting policies (continued)
(l) Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
(m) Judgements and key sources of estimation uncertainty
The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:
- Assessment of probability of receipt of legacy items notified during the period
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:
- Estimate of the likely amounts received on notified legacies, based on the available information at the point of approval of the accounts, and using a historic analysis of actual rates of receipt on prior notifications. As at 31[st] March 2026, £494k was accrued based on these estimates (2025: c£632k )
(m) Going concern
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. They have concluded that the budgeted income and expenditure is sufficient with the level of reserves held for the charity to be able to continue as a going concern.
2. Analysis of total expenditure
Charity and group
| Charitable activities Grants to Sobell House RIPEL project costs Donation to SeeSaw Hospice depreciation Catering service Transport service Bereavement service Fellowship End of Life Care Hospice & Garden Maintenance Hospice – EDI Office costs |
Staff Total Total Costs Other Depreciation 2026 2025 £ £ £ £ £ - 1,955,693 - 1,955,693 1,335,433 - 333,384 - 333,384 1,000,501 - 36,000 - 36,000 36,000 - - 307,841 307,841 294,110 - 199,573 - 199,573 341,724 - 52,866 9,374 62,240 55,189 - 132,405 - 132,405 142,937 - 398,558 - 398,558 272,078 - 85,635 - 85,635 72,328 - 6,325 - 6,325 18,234 - 100,841 - 100,841 56,125 234,624 79,344 7,708 321,676 315,575 |
|---|---|
| 234,624 3,378,624 324,923 3,938,171 3,940,234 |
- 18 -
Sobell House Hospice Charity Limited
Notes to the Accounts
for the year ended 31st March 2026(continued)
2. Analysis of total expenditure (continued)
| Cost of raising funds Group Fundraising and publicity Shops cost of sales Office costs Charity Fundraising and publicity Shops cost of sales Office costs |
Staff Total Total Costs Other Depreciation 2026 2025 £ £ £ £ £ 474,508 141,836 5,430 621,774 748,800 1,021,230 654,797 37,079 1,713,106 1,743,068 234,624 134,223 7,708 376,555 315,575 1,730,362 930,856 50,217 2,711,435 2,807,443 474,508 141,836 5,430 621,774 748,800 1,021,230 620,496 37,079 1,678,805 1,599,365 234,624 134,219 7,708 376,551 315,575 1,730,362 896,551 50,217 2,677,130 2,663,740 |
|---|---|
The Group’s support costs are allocated between Cost of raising funds and Charitable activities as shown below, using the following bases of apportionment:
| Salaries, training and recruitment Office overheads Premises Depreciation Total |
Cost of Charitable generating Total Total Basis of activities funds 2026 2025 apportionment £ £ £ £ 234,624 234,624 469,248 370,082 Staff time 79,344 134,223 213,567 253,424 Use of resources - - - - Use of resources 7,708 7,708 15,416 7,644 Use of fixed assets 321,676 376,555 698,231 631,150 |
|---|---|
Governance costs
Governance costs comprise the following:-
| Governance costs comprise the following:- | ||
|---|---|---|
| 2026 | 2025 | |
| £ | £ | |
| Audit fees | 10,375 | 9,900 |
| ────── | ────── | |
| 10,375 | 9,900 | |
| ══════ | ══════ |
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Sobell House Hospice Charity Limited
Notes to the Accounts for the year ended 31st March 2026 (continued)
3.
| Analysis of staff costs | ||||
|---|---|---|---|---|
| 2026 | 2026 | 2025 | 2025 | |
| Group | Charity | Group | Charity | |
| £ | £ | £ | £ | |
| Wages and salaries | 1,611,239 | 1,611,239 | 1,556,398 | 1,556,398 |
| Social security costs | 195,026 | 195,026 | 125,747 | 125,747 |
| Pension costs | 158,721 | 158,721 | 153,881 | 153,881 |
| ────── | ────── | ────── | ────── | |
| 1,964,986 | 1,964,986 | 1,836,026 | 1,836,026 | |
| ══════ | ══════ | ══════ | ══════ |
The average full time equivalent weekly number of employees during the period was 53 (2024: 55). The average monthly number of employees during the period was 65 (2025: 62).
Two employees of the Charity received remuneration of over £60k during the year – one between £60,000 and £70,000 and one between £80,000 and £90,000 (2025: two; £70,000 - £80,000).
The number of volunteers was 118 (2025: 114).
The pension scheme is a defined contribution scheme. £32,131 of contributions were outstanding for payment as at 31st March 2026 (2025: £15,515 ).
4. Trustees' and key management personnel remuneration and expenses
The trustees neither received nor waived any remuneration during the year (2025: £Nil).
The total amount of employee remuneration received by key management personnel is £292,937 (2025: £295,135 ). The Charity considers its key management personnel comprise the Board of Trustees, the Chief Executive, the Director of Finance, the Director of Fundraising, and the Director of Retail.
No (2025: None) trustees are accruing pension arrangements.
No trustees were reimbursed for expenses during the year (2025: £nil).
5. Auditors' remuneration
The auditors' remuneration for the group in the year was:-
| r was:- | ||
|---|---|---|
| 2026 | 2025 | |
| £ | £ | |
| - audit | 10,375 | 9,900 |
| - other | 575 | 550 |
| ═════ | ═════ |
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Sobell House Hospice Charity Limited
Notes to the Accounts for the year ended 31st March 2026 (continued)
| 6. Tangible fixed assets Cost: At 1st April 2025 Additions Disposals At 31st March 2026 Accumulated depreciation: At 1st April 2025 Charge for the period Elimination on disposal At 31st March 2026 Net book value: At 31st March 2026 At 31st March 2025 |
Leasehold Leasehold Fixtures, Vans Charity & premises premises fittings & Group (hospice) (shops) equipment total £ £ £ £ £ 8,857,556 341,486 322,003 83,349 9,604,394 359,240 - 50,530 - 409,770 - - (13,838) (45,854) (59,692) 9,216,796 341,486 358,695 37,495 9,954,472 3,590,181 242,737 283,050 45,854 4,161,822 307,841 30,183 41,855 9,374 389,253 - - (13,838) (45,854) (59,692) 3,898,022 272,920 311,067 9,374 4,491,383 5,318,774 68,566 47,628 28,121 5,463,089 5,267,375 98,749 38,953 37,495 5,442,572 |
|---|---|
The title to the new hospice leasehold premises is held by Sobell House Hospice Charity Limited under the terms of a 30 year lease running from and including 23rd March 2020. These premises are being depreciated over the 30 year period. To facilitate practical arrangements on site there is an underlease back to Oxford University Hospitals NHS Foundation Trust and Sobell House Hospice Charity Limited have a sub-underlease of office premises in the new hospice site.
The title to the existing hospice leasehold premises is now held by Sobell House Hospice Charity Limited under the terms of a 30 year lease with the term running from 7th July 2003. The hospice leasehold premises are being depreciated over the 30 year term. Again for practical reasons on site there is an underlease back to Oxford University Hospitals NHS Foundation Trust.
- 21 -
Sobell House Hospice Charity Limited
Notes to the Accounts for the year ended 31st March 2026 (continued)
| 7. | Investments 2026 2025 £ £ Fixed asset investments Quoted investments: Market value at 1st April 2025 8,946,911 9,935,899 Less: Disposals at opening book value (proceeds £1,784,073 profit £34,076) (1,749,997) (2,181,691) Add: Acquisitions at cost 1,092,080 1,092,943 Add: Net gains on revaluation 706,940 99,760 ─────── ─────── Market value at 31st March 2026 – Group 8,995,934 8,946,911 Investment in subsidiary company:- Sobell Lottery Limited (see note 14) 2 2 ─────── ─────── Total - Charity 8,995,936 8,946,913 ═══════ ═══════ |
|---|---|
The fair value of quoted investments is determined by reference to the quoted price for the assets in an active market at the balance sheet date.
The historical cost of the above investments was £6,262,269 (2025: £6,654,930 ).
| 8. Debtors Tax recoverable Other debtors Prepayments and accrued income |
Group Charity 2026 2026 £ £ 94,920 94,920 46,077 44,655 819,418 817,022 960,415 956,597 |
Group Charity 2025 2025 £ £ 40,237 40,237 60,497 57,371 895,711 895,711 996,445 993,319 |
|---|---|---|
| 9. Creditors Group Charity 2026 2026 £ £ Trade creditors 943,377 940,945 Taxes and social security 71,515 71,515 Other creditors 293,890 293,892 Owed to Sobell House Hospice Company Limited - 14,677 Accruals 97,377 89,377 1,406,159 1,410,406 |
Group Charity 2025 2025 £ £ 296,792 296,792 52,156 49,321 43,606 41,396 - 68,220 359,637 357,135 752,191 812,864 |
|---|---|
- 22 -
Sobell House Hospice Charity Limited
Notes to the Accounts
for the year ended 31st March 2026 (continued
10. Legacies
A legacy of £242,409 was received and recognised in the year ending 31st March 2014, for which the charity has indemnified the donor against a possible but unlikely claim under the terms of intestacy, the expiry of which, in this case, is 8th November 2042. An additional £100,000 was received from the same legacy in the year ended 31st March 2015, and £16,045 in the year ended 31st March 2017 making a total of £358,454 that the charity has indemnified.
11. Analysis of Group net assets between funds
| Fund balances at 31st March 2026 were represented by:- Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Fund balances at 31st March 2025 were represented by:- Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Restricted General Designated Total Funds Funds Funds Funds £ £ £ £ 1,423,867 158,414 3,880,808 5,463,089 - 3,619,428 5,376,506 8,995,934 102,085 1,889,633 - 1,991,718 - (1,280,813) (125,346) (1,406,159) 1,525,952 4,386,662 9,131,968 15,044,582 Restricted General Designated Total Funds Funds Funds Funds £ £ £ £ 1,214,235 135,280 4,093,057 5,442,572 - 2,775,092 6,171,819 8,946,911 134,518 2,380,658 - 2,515,176 - (752,191) - (752,191) 1,348,753 4,538,839 10,264,876 16,152,468 |
|---|---|
- 23 -
Sobell House Hospice Charity Limited
Notes to the Accounts for the year ended 31st March 2026 (continued
11. Analysis of Group net assets between funds (continued)
Revaluation reserve:
Included in unrestricted funds above are the following gains on revaluation:
| 2026 | 2025 | |
|---|---|---|
| £ | £ | |
| Unrealised gains at 1st April 2025 | 2,291,981 | 2,821,052 |
| In respect of disposals in the year | (265,256) | (616,694) |
| ─────── | ─────── | |
| 2,206,725 | 2,204,358 | |
| Net gains arising on revaluation in the year | 706,940 | 87,623 |
| ─────── | ─────── | |
| Unrealised gains at 31st March 2026 | 2,733,665 | 2,291,981 |
| ═══════ | ═══════ |
The net book value of the leasehold premises (Hospice) of £5,318,774 (2025: £5,267,375) shown in note 6, is allocated between funds as follows:
| 2026 | 2025 | |
|---|---|---|
| £ | £ | |
| Restricted Building Fund | 1,053,666 | 1,135,528 |
| Designated Building Fund | 3,880,808 | 4,093,057 |
| Restricted DHSC Capital Grant Fund 2024/25 | 37,238 | 38,790 |
| Restricted Special Purposes Fund | 44,037 | - |
| Restricted DHSC Capital Grant Fund 2025/26 | 303,025 | - |
| ─────── | ─────── | |
| 5,318,774 | 5,267,375 | |
| ═══════ | ═══════ |
12. a) Designated funds
| Designated building fund EOLC Project Shops fund Fellowship fund RIPEL project fund Hospice grant fund Retail property alignment fund |
At 1st At 31st April 2025 Movement Depreciation Transfers March 2026 £ £ £ £ £ 4,093,057 - (212,249) - 3,880,808 386,166 (85,635) - - 300,531 92,800 - - - 92,800 556,387 (398,558) - - 157,829 1,536,466 (333,384) - (1,203,082) - 3,600,000 - - 600,000 4,200,000 - - - 500,000 500,000 |
|---|---|
| 10,264,876 (817,577) (212,249) - 9,131,968 |
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Sobell House Hospice Charity Limited
Notes to the Accounts for the year ended 31st March 2024 (continued)
12. a) Designated funds (continued)
| Designated building fund EOLC Project Shops fund Fellowship fund RIPEL project fund Hospice grant fund |
At 1st At 31st April 2024 Movement Depreciation Transfers March 2025 £ £ £ £ £ 4,304,010 - (210,953) - 4,093,057 458,494 (72,328) - - 386,166 116,700 - - (23,900) 92,800 828,465 (272,078) - - 556,387 2,511,990 (975,524) - - 1,536,466 4,000,000 - - (400,000) 3,600,000 |
|---|---|
| 12,219,659 (1,319,930) (210,953) (423,900) 10,264,876 |
The Designated Building Funds represent the funds incurred in the building of the original hospice in 2002 and the new hospice wing completed in 2019. It is represented by the book value of the hospice premises as at the year end.
The RIPEL Project Fund: In 2022/23, the charity embarked on funding a significant project for the Oxford University Hospitals NHS Trust known as the ‘RIPEL’ project. This project was completed in the current year, and surplus designated funds released.
The EOLC (End of Life Care) Project Fund relates to a quality improvement project to help the care of the dying in the hospitals of the OUHFT. This encompasses clinical and educational services. The project provides end of life care for patients, support for their families and carers and staff. The project staff enable conversations about care planning, as well as medication review. The project is now being funded by the Oxford University Hospitals Trust with some ongoing funding being provided by the Charity to enable project evaluation.
The Shops Fund relates to compensation received in respect of the early closure of the Charity’s Botley shop. This fund has been set aside to enable the development of retail activities.
In May 2021 the Trustees agreed to set up a Fellowship Reserve Fund of £1M. This supports existing clinical staff and also attracts individuals who would benefit from a medium term assignment at Sobell.
The Hospice grant fund was established to ensure that designated funds are held to cover 24 months of planned grant expenditure, given the severity of the impact any loss of funding would have on the House.
The Retail property alignment fund has been set up to resource upcoming changes to the Charity’s retail estate, as set out in the Retail Strategy, which was approved by Trustees in February 2026.
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Sobell House Hospice Charity Limited
Notes to the Accounts for the year ended 31st March 2026 (continued)
12 b) Restricted funds
| b) Restricted funds | |
|---|---|
| Special purposes fund RIPEL project fund Restricted buildings fund Restricted DHSC capital grant fund 2024/25 Restricted DHSC capital grant fund 2025/26 Community Impact fund Special purposes fund RIPEL project fund Restricted buildings fund Restricted DHSC capital grant fund 2024/25 |
At 1st At 31st April 2025 Income Expenditure Transfer March 2026 £ £ £ £ £ 134,518 58,745 (91,179) - 102,085 - 18,878 - (18,878) - 1,135,528 - (81,861) - 1,053,666 78,707 - (11,531) - 67,176 - 303,025 - - 303,025 - 4,500 (4,500) - - |
| 1,348,753 385,148 (189,071) (18,878) 1,525,952 |
|
| At 1st At 31st April 2024 Income Expenditure Transfer March 2025 £ £ £ £ £ 51,732 131,270 (48,484) - 134,518 - 24,977 (24,977) - - 1,218,684 - (83,156) - 1,135,528 - 78,707 - - 78,707 |
|
| 1,270,416 234,954 (156,617) - 1,348,753 |
The Special purposes fund consists of money donated to the charity for the specific use of the Hospice.
The RIPEL project fund relates to monies raised specifically for us on this project, as detailed in note 12a). The RIPEL fund relates to monies raised specifically for use on this project. The project has now ended, and the virtual hospice and the home hospice care team have become part of ‘business as usual’ for the Palliative and End of Life Care service at OUH.
The Restricted buildings fund relates to appeals to raise funds for the building of the existing Hospice and the new Hospice wing completed in 2019.
The Restricted DHSC capital grant funds relate to monies received in each period to support capital expenditure. The amount was expended in full in March 2025 and March 2026, with depreciation being applied from the 2026 year end.
The 2025-28 Oxford City Council Community Impact Fund Big Ideas Grant provides funding to reduce inequalities in the city, by establishing an inclusion health team within Sobell House Hospice.
13. Reconciliation of net income to net cash flow from operating activities
| 2026 | 2025 | |
|---|---|---|
| £ | £ | |
| Net income for year | (1,107,886) | (1,639,663) |
| Dividends received | (152,549) | (197,579) |
| Interest receivable | (17,312) | (48,274) |
| Depreciation of tangible fixed assets | 389,253 | 362,890 |
| Other adjustments to fixed assets | (3,598) | 3,064 |
| Losses/(gains) on investments | (706,940) | (99,760) |
| Losses/(gains) on disposal of fixed asset investments | (34,076) | 12,137 |
| (Increase)/decrease in stock | (2,042) | 13,271 |
| (Increase)/decrease in debtors | 36,030 | 152,381 |
| Increase/ (decrease) in creditors | 653,968 | (89,256) |
| ─────── | ─────── | |
| Net cash flow from operating activities | (945,152) | (1,530,789) |
| ═══════ | ═══════ |
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Sobell House Hospice Charity Limited
Notes to the Accounts
for the year ended 31st March 2026 (continued)
14. Related parties
(i) For the year ended 31st March 2026 the subsidiary companies showed the following results:
| Sobell House | ||
|---|---|---|
| Sobell | Hospice | |
| Lottery Ltd | Company Ltd | |
| £ | £ | |
| Turnover | - | 65,344 |
| Cost of sales | - | (34,301) |
| ────── | ────── | |
| Gross profit | - | 31,043 |
| Administrative expenses | 40 | (44) |
| ────── | ────── | |
| Operating profit | 40 | 30,999 |
| Interest receivable | - | - |
| ────── | ────── | |
| Net profit | 40 | 30,999 |
| Distribution to Charity | - | (88,217) |
| ────── | ────── | |
| Profit for the year retained | 40 | (57,218) |
| ══════ | ══════ | |
| The balance sheets of these subsidiaries at 31st March 2026 were:- | ||
| £ | £ | |
| Current assets: | ||
| Stocks | - | 17,807 |
| Debtors | - | 19,627 |
| Cash at bank and in hand | 7,072 | 1,247 |
| Current liabilities: | ||
| Other creditors | (7,382) | (4,182) |
| ────── | ────── | |
| Net assets | (310) | 34,499 |
| ══════ | ══════ | |
| Represented by: | ||
| Share capital | 2 | - |
| Reserves | (312) | 34,499 |
| ══════ | ══════ |
Sobell House Hospice Charity Limited holds 100% of the share capital of Sobell Lottery Limited (company number 03737178). Sobell House Hospice Company Limited (company number 02437912) is a company limited by guarantee – control is via common directors.
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Sobell House Hospice Charity Limited
Notes to the Accounts
for the year ended 31st March 2026 (continued)
15. Charity Statement of Financial Activities
The Charity’s own results are summarised below:
| The Charity’s own results are summarised below: | ||
|---|---|---|
| 2026 | 2025 | |
| £ | £ | |
| Voluntary income | 2,448,699 | 2,462,196 |
| Activities for generating funds | 2,116,800 | 2,079,424 |
| Profit distributions from subsidiaries | 88,217 | 228,740 |
| Investment income | 169,861 | 245,853 |
| ─────── | ─────── | |
| Total income | 4,823,577 | 5,016,213 |
| Cost of charitable activities | (3,938,169) | (3,940,234) |
| Cost of raising funds | (2,677,134) | (2,662,744) |
| ─────── | ─────── | |
| Net income/(expenditure) before (losses)/gains on investments | (1,791,726) | (1,586,765) |
| Gains/(losses) on investment assets | 741,016 | 87,623 |
| ─────── | ─────── | |
| Net income/(expenditure) | (1,050,710) | (1,499,142) |
| ═══════ | ═══════ |
16. Funds received as agent
During 2021-22 the charity received funds of £216,000 from the OCCG, on behalf of another organisation. The charity is passing on funds as required, at the instruction of the OCCG, with £nil (2025: £1,566 ) still held at the year end date.
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Sobell House Hospice Charity Limited
Notes to the Accounts
for the year ended 31st March 2026 (continued)
17. Operating lease commitments
The total future minimum lease payments under non-cancellable operating leases are payable as follows:
| 2026 | 2025 | |
|---|---|---|
| £ | £ | |
| Leasehold premises | ||
| Within one year | 154,456 | 221,022 |
| Between one and five years | 222,496 | 207,815 |
| More than five years | 78,103 | 35,510 |
| ─────── | ─────── | |
| 455,055 | 464,347 | |
| ═══════ | ═══════ | |
| Motor vehicles | ||
| Within one year | 9,098 | 11,286 |
| Between one and five years | 8,340 | 12,122 |
| ─────── | ─────── | |
| 17,438 | 23,408 | |
| ═══════ | ═══════ |
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