## **Annual Report and Accounts** ## 2021-2022 Registered Charity Number: 1128881 Company Number: 06775584 **----- Start of picture text -----**
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## **Contents** |**Report of the Board of Trustees**|| |---|---| |References and administrative details|3| |Chairman’s statement|4| |About us|5| |Progress towards our 2021 - 22 strategic aims|6| |Our focus for 2022 - 23|7| |Our fundraising|8| |Our finances|9| |Principal risks and uncertainties|11| |Structure, governance and management|12| |Independent auditor’s report|14| |Financial statements|17| |Notes to the accounts|20| |Find out more|28| **2 |** P a g e South Bucks Hospice ## **References & Administrative Details** ## **REGISTERED OFFICE ADDRESS** Butterfly House Kingswood Park High Wycombe Buckinghamshire HP13 6GR ## **CHARITY REGISTRATION NUMBER** 1128881 ## **COMPANY REGISTRATION NUMBER** **EXTERNAL AUDITORS** Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG **PRINCIPAL BANKER** Lloyds 27-31 White Hart Street High Wycombe Buckinghamshire HP11 2HL 06775584 **PATRONS** S Baker MP Baroness Finlay of Llandaff M Harker OBE R Jefcoate CBE DL **PRINCIPAL SOLICITORS** Blaser Mills LLP 40 Oxford Road High Wycombe Buckinghamshire HP11 2EE ## **BOARD OF TRUSTEES** D R Ellis OBE (Chairman) D Balls J L Kerridge C A Langley J B Pickersgill (Vice Chairman) Dr S Procter S V Rabheru (Appointed 5 August 2022) P J Watkins **3 |** P a g e South Bucks Hospice ## **Chairman’s statement** alleviated pain for over 500 patients and family members. **David Ellis OBE, Chairman** On behalf of everyone at South Bucks Hospice, I am pleased to present this annual review, which gives us an opportunity to reflect on our activities over the year and to communicate our plans for the future. 2021/22 proved to be yet another challenging period with the Covid-19 pandemic continuing to challenge us on many fronts. I am very proud of how we have not only continued to deliver high quality care and support during these times but have also expanded our services and launched a new Bereavement Listening Service supporting those who have lost a loved one to a life-limiting illness or Covid-19. In April the Government allowed non-essential shops to reopen, although some legal restrictions around social contact remained in force for part of the year. The lifting of restrictions meant that we were able to undertake a cautious approach to further opening up our hospice building with mask wearing and regular Covid testing at the hospice remaining compulsory throughout the year in order to protect our staff, volunteers and patients. We know however that social interaction is a very important part of improving wellbeing and so we slowly restarted our face-to-face group support, offering a range of new groups, albeit with Covid-19 measures in place. All of our services help us to achieve our overall purpose of enhancing quality of life to those living with a life-limiting or life-threatening illness. And thanks to the incredible generosity shown by our community we gave hope, offered comfort and Income generation was also challenging because of Covid-19 as opportunities to hold events and fundraise in our community were limited. We did however hold Light Up a Life in November to remember those who have lost a loved one. Our shops continued to trade strongly and thanks to the kindness and generosity of our amazing community we achieved a realised surplus of £42,862. The Covid-19 pandemic brought to the fore how technology can be used to support healthcare delivery. It helped our healthcare professionals stay connected and to provide continuance of care with individuals who would have had little or no access to some of our services unless they were physically able to attend the hospice. It has also helped those individuals to connect with others in group settings, helping to combat feelings of isolation. We need to ensure that we remain agile to the changing landscape through collaboration with others, our use of technology and service developments. We also need to ensure that we build our income generation so that we remain financially stable longer term. We know that access to good and early palliative care can improve outcomes for life expectancy as well as improve the quality of life. Our focus for 2022/23 is therefore to ensure that we continue to provide high quality care to our patients, families and carers and continue to promote the benefits that our day hospice can bring. Finally, I would like to thank everyone who supports the hospice – our volunteers, fundraisers and employees – as we look forward to the year ahead. Our patients, volunteers, staff and supporters are at the heart of everything we do. ## **David Ellis OBE Chairman** **4 |** P a g e South Bucks Hospice **About us** ## **OUR HOSPICE & SERVICES** The diagnosis of a life-threatening or life-limiting illness can be devastating and no-one facing this has to do it alone. We are there to support people during these difficult times through our wide range of care and support. At South Bucks Hospice we help people to live well and improve their quality of life, despite being diagnosed with a life-threatening illness. Our team of professionals specialise in supporting people from the early stages of their journey through illhealth, to enhance their quality of life: - Giving them time to talk and be heard - Helping them and their family come to terms with their diagnosis - Preparing for, coping with and recovering from treatment - Assisting around a third of our patients through recovery - Being there for our patients’ families through bereavement and as they adjust to their loss. Importantly our support can start at any stage of illness including as soon as an illness has been diagnosed and whilst it may still be curative. ## **OUR SERVICES ARE FREE** All our services are provided free of charge thanks to the generous support of people in our community who generate almost all the income we need to provide our services. We do however need to secure more sustainable funding longer term to enable us to grow our services and support more people in need in the community. ## **OUR HOLISTIC APPROACH** ## **Nursing Care** **Physical Therapies Complementary Therapies Spiritual Care Counselling Practical Support Bereavement Support** ## **OUR VALUES** Our focus is: - To provide relief from pain and other troubling symptoms - To support emotional and spiritual needs - To provide practical support ## **C** ompassionate _We treat everyone with compassion in a caring, safe and supportive environment._ **A** spirational _We aspire to be the best in everything we do_ ## **OUR LOCATION** We are based in High Wycombe in Buckinghamshire and we support patients, their families and carers living in or with a GP in South Buckinghamshire. **R** espectful _We value each person as an individual, treating everyone with dignity and respect_ **E** nabling _We enable and empower people_ ## _**Our patients are at the heart of everything we do.**_ **5 |** P a g e South Bucks Hospice ## **Progress Towards Our 2021-22 Strategic Aims** ## **1: SERVICE DEVELOPMENT** Our people are our most important resource and we invested in additional staff during the year to ensure that we can help more people who need our care and can continue to grow and innovate. This included recruiting a Lead Palliative Care Nurse and Facilities Manager. important part our future sustainability. We invested in strengthening our volunteer function through the recruitment of a dedicated Volunteer Coordinator. Our volunteer newsletter was also relaunched to improve our engagement and information sharing with our amazing volunteers. ## **3. TECHNOLOGY** We were pleased to be able to resume our faceto-face groups during the year. We also widened our range of specialist groups and courses, focusing on education, wellbeing and peer support. New groups included prostate cancer support, bereavement courses, advance care planning as well as socially orientated groups. We also grew our Individual and Family Support Services to further support the mental health and wellbeing of our patients, families and carers, through recruiting additional counsellors, launching a new Bereavement Listening Service and relaunching our Spiritual Care service. The need to work remotely during Covid-19 provided us with an opportunity to rethink the way that we were utilising technology and to modernise. We therefore undertook a review of this during the year, looking at ways to improve our effectiveness and support our future development. We moved all clinical care records onto one system and restructured the way data was being held to improve our patient record keeping, clinical reporting and data capture. We also commenced a project to move our systems and files to the cloud thus removing our dependency on inhouse systems, reducing risk and enabling more mobile working. ## **2. ENGAGEMENT** ## **4. INCOME** Recognition of the wide range of free services we offer needs to improve both in terms of public awareness and with other healthcare professionals and organisation. A new role of Clinical Engagement Lead was created to build and maintain positive links within the healthcare and wider community and to increase awareness of South Bucks Hospice and its services, and referrals. We also opened up our hospice to a number of Clinical Nurse Specialists in our community who needed a facility to host their specialist groups. We identified the need to improve the capture of feedback from our patients to support continuous improvement. We therefore increased the number of ways people could leave feedback and improved our feedback reporting. Our volunteers are an invaluable resource in helping us to deliver our care and are an We know that we need to increase our income longer term and we invested in our fundraising strategy, looking at areas for development and recruiting into a new community facing role. ## **5. STRATEGY AND GOVERNANCE** A 3-year strategy was developed focusing on building the foundations of how we will emerge, grow and become sustainable post Covid-19. We benchmarked against the Care Quality Commission (CQC) standards and implemented measures to support the acquisition of a ‘Good’ CQC rating across all areas. We reviewed our governance and made significant improvements across the hospice, including improvements in staff training, reporting, policy and procedure reviews and improving our internal audit programme. **6 |** P a g e South Bucks Hospice ## **Our Focus for 2022-23** ## **1. SERVICE DEVELOPMENT** We know that what we do makes a difference and looking forward we want to make a bigger difference for more people. As such, we will continue to promote the benefits day hospice can bring both in supporting people in the early stages of diagnosis but also as they head towards end of life. As a result, we aim to increase referrals into our services by 20% and to increase the number of people we support over the course of the year from 500 to over 600. We aim to widen the range of care, support and activities we offer, to provide greater education around managing conditions and improve physical and emotional wellbeing. We also aim to increase resources in our clinical team to support growth and future development. ## **2. ENGAGEMENT** We will continue to increase awareness of our services both in the community and with other healthcare organisations promoting the benefits early intervention can bring to people. We also recognise the need for greater input from our patients and their families and carers to help us shape and improve our services. We will therefore set up a Hospice User Group to improve patient experiences and help to ensure that services reflect the needs and views of the people who use them. We will also continue to improve the capture of feedback on our care so that we can learn and grow from these. ## **3. DATA AND TECHNOLOGY** We will continue to evolve technologically to support our care provision. We will automate more processes, allowing staff to spend more time on patient care. We will review our electronic patient record management system to ensure that it is delivering what we need and is supporting our staff, patients and volunteers in the delivery of care. We will improve our use of data to support greater understanding of our operations and to aid efficiencies. We will ensure that we have the right framework in place to support our volunteers and will develop a new volunteer database to support greater volunteer engagement and compliance. We will enable greater remote working through our technology and reduce the need to travel. ## **4. FINANCING OUR FUTURE** The growth of the hospice’s income is a pivotal factor to the long-term success of the Charity. Not only is it required to support the growth of our care provision but also to ensure the hospice is sustainable financially longer term. We will start to build income generation, utilising external expertise in this area, focusing on creating a new strategy for income generation including building stronger relationships with our supporters and reviewing our retail operation to maximise future returns. We will also start to build on our brand through better communicating who we are and the difference we make, aiming to dispel the widespread belief that only people who are dying can benefit from hospice care. ## **5. STRATEGY AND GOVERNANCE** We are very proud of the high standard of care we provide to patients, families and carers. We remain committed to maintaining and improving our high-quality care and ensuring that we remain very safe, responsive, caring and efficient. We will continue to benchmark ourselves against the Care Quality Commission standards to maintain a ‘Good’ rating and to ensure that we continually improve. **7 |** P a g e South Bucks Hospice **Our Fundraising** **Without fundraising we would not be able to provide our services to those who need our help and support. Every pound donated brings us one step closer to caring for our next patient.** All our services are provided free of charge and 96% of our income comes from the kindness of those in our community. It is important to us that those who give to our Charity enjoy the experience and that we are clear about the ways in which we raise our funds ## **REGULATION** As part of our commitment to best fundraising practice, South Bucks Hospice voluntarily subscribes to the Fundraising Regulator. We are also a member of the Institute of Fundraising. We are committed to adhering to best practice, applicable laws and codes, such as the Fundraising Regulator’s Code of Fundraising Practice. ## **COMMUNICATION** We ask our supporters if they would like to be kept up to date about our work and fundraising and retail activities. We do not use fundraising agencies. We report our complaints to the Fundraising Regulator. We received no fundraising complaints during the year. ## **WAYS TO SUPPORT US** There are a range of ways to support our work. These include: - Regular giving - Legacy giving - Fundraising events - Grant funding - Shopping in and donating to our charity shops and reuse centres - Volunteering - Business partnerships ## **GENERAL DATA PROTECTION REGULATION** ## **OUR FUNDRAISING COMMITMENT** The privacy and security of personal information is extremely important to us and as such we are committed to adherence to UK Data Protection Regulations. ## **COMPLAINTS** We strive for the highest standards however it is possible that there are occasions when we do not get things quite right. We promise: - To keep our supporters’ details safe. We will not sell or pass their details to anyone who is not working directly on our behalf. - We promise to communicate with our supporters in a way that suits their needs. We take any complaints raised seriously and investigate them promptly. All complaints are dealt with sympathetically and thoroughly. **8 |** P a g e South Bucks Hospice ## **Our Finances** ## **FINANCIAL SUMMARY** At the start of the year we anticipated making a significant loss for 2021/22, largely due to planned investment in a number of new posts. Difficulties in the recruitment market meant however that some roles took longer to fill than was anticipated, with some roles still remaining unfilled by the end of the financial year. The knock-on effect of this was that expenditure was considerably less than expected. At the end of the financial year we therefore made a surplus of £42,862 before unrealised gains on listed investments of £40,156. The overall surplus including unrealised gains on investment was £83,018 for the year. A summary of the income and expenditure is as follows: |**Net income**|**2022**|2021|Change| |---|---|---|---| ||**£'000**|£'000|%| |Total income|1,660.8|1,639.7|1.3%| |Total expenditure|(1,617.9)|(1,323.3)|22.3%| |Total|42.9|316.4|(86.4%)| |Unrealised|||| |gains/(losses) on|40.2|96.9|(58.5%)| |investment|||| |Total|83.1|413.3|(79.9%)| ## **INCOME** The Charity’s income, excluding unrealised gains and losses on investments, increased from £1.639m to £1.661m. This increase in income was largely due to retail which had been closed for periods in 2020/21. Our fundraising income fell as legacy income was at a lower level in 2021/22 due to receipt of a large legacy in 2020/21. Income from donations however increase by 31.3% in the year. Our other income fell in the year as the 2020/21 income included claims made under the Government’s furlough scheme and also other Covid-19 grants. |**Income**|**2022**|2021|Change| |---|---|---|---| ||**£'000**|£'000|%| |Statutoryincome|66.4|67.8|(2.1%)| |Fundraising|413.5|589.8|(29.9%)| |Retail|1,121.0|378.4|196.2%| |Investments|0.4|1.3|(69.2%)| |Other|59.6|602.4|(90.1%)| |Total|1,660.9|1,639.7|1.3%| |Gains/losses on
investments|40.2|96.9|(58.5%)| |Total|1,701.1|1,736.6|(2.0%)| ## **EXPENDITURE** The Charity’s expenditure increased from £1.323m to £1.618m. |**Expenditure**|**2022**|2021|Change| |---|---|---|---| ||**£'000**|£'000|%| |Retail|823.0|564.5|45.8%| |Other cost of
raisingfunds|110.7|117.1|(5.5%)| |Patient Care|684.2|641.6|6.6%| |Total|1,617.9|1,323.2|22.3%| The main increase in our costs was in our retail operation, as costs had been curtailed in 2020/21 due to Covid-19. We also started to build on our clinical operations resulting in an increase in expenditure in this area. In order to best illustrate where our income comes from and how this is applied to our charitable work we have used the net income approach to show this: |**Net income by**|**2022**|2021|Change| |---|---|---|---| |**source**|**£'000**|£'000|%| |Fundraising|302.8|472.6|(35.9%)| |Retail|298.0|(186.1)|260.1%| |Investments|40.5|98.2|(58.8%)| |Other*|126.0|670.2|(81.2%)| |Expenditure on
objectives|(684.2)|(641.6)|6.6%| |Total|83.1|413.3|(79.9%)| _*Includes clinical commissioning and Covid-19 grants_ **9 |** P a g e South Bucks Hospice ## **Our Finances** ## **RESERVES** South Bucks Hospice’s reserves policy is in place to safeguard against unforeseen fluctuations in income. This allows us to ensure that we can continue to provide our services during these times. We started the financial year in a strong positional and were planning to make a financial loss during the year. The planned loss anticipated investment in our services, largely investment in new staff, however recruitment during the year proved challenging across all sectors and South Bucks Hospice was no different. Delays in appointing to the new posts means that the anticipated loss and subsequent fall in our reserves were not at the level anticipated at the start of the year. Our policy on reserves is to hold free reserves of at least 40% of annual operational expenditure. Our reserves level is currently higher than this however it reflects the increasing risk around income and the current difficult economic climate with inflation rising and, in particular, significant increases in energy prices. Our financial projections indicate that our reserves will decrease significantly within the next two financial years, and we will need to carefully manage our resources to ensure that we remain compliant with our reserves policy longerterm so that we are able to continue to offer care in our community both now and in the future. Our level of free reserves at the end of the year was £1,787,026. This higher level of end-year reserves over our reserves policy means that we can continue with our plan to invest in the growth and development of our charity in the short-term during the current difficult economic climate. its longer term aims to provide greater palliative care support in the community At 31 March 2022, South Bucks Hospice held total funds of £6,768,312 (2021: £6,685,294) of which £1,775,448 (2021: £1,873,494) was restricted. Of the total funds, £4,700,761 (2021: £4,841,401) was held as fixed assets. ## **INVESTMENTS** South Bucks Hospice’s objective is to produce the best financial return on cash reserves within an acceptable level of risk. Capital preservation is therefore of high importance. As such, an amount at least equal to the Reserves Policy is held in cash or easily liquidated deposits to ensure capital protection and interest income. Most of the hospice's funds were held in cash during the year. During 2021/22 we saw our investments increase and are pleased to report an unrealised surplus of £40,156. These long-term investment funds are designed to provide a high and growing income, whilst at the same time protecting capital from the erosive effects of inflation. ## **FIXED ASSETS AND CAPITAL EXPENDITURE** The majority of our fixed assets comprise the land, building, furniture and equipment at our hospice. Other assets include our shops and van. We had no capital commitments at the end of the year. At the end of the year, the trustees were pleased to be in the position to be able to designate funds of £316,007 for investment in the development of hospice services. The trustees are however mindful that the hospice’s income needs to increase significantly if it is to fulfil **10 |** P a g e South Bucks Hospice ## **Principal Risks & Uncertainties** The Board of Trustees are responsible for identifying and managing the major risks facing South Bucks Hospice and are satisfied that the steps being taken to mitigate risk meets the needs of the Charity. To this end, South Bucks Hospice maintains a risk register which is regularly reviewed by the trustees. There are also a number of systems of control in place to monitor risk: - The Charity has operational subcommittees in place to which responsibilities in key areas of risk are delegated - There is an annual planning and budgeting process in place which is subject to ongoing review during the year by the Board of Trustees The most significant risks and uncertainties identified and the steps being taken to mitigate these risks are: |**PRINCIPAL RISKS AND**
**UNCERTAINTIES**|**MITIGATION**| |---|---| |**Income**
Insufficient growth in stable and
sustainable income to support the
ongoing operational costs of the
hospice and its other business needs| We have diversified income streams
 Financial performance, including cash flow forecasts, are
produced and reviewed on a regular basis
 A reserves policy is in place and the reserves position is
regularly monitored by the Finance and General-Purpose
Committee at each meeting and by the Board of Trustees| |**Clinical Services**
The risk that the quality of our clinical
service is compromised| We have a Clinical Committee in place to oversee the
governance of our clinical service
 We provide high-quality training to our clinical staff
 We are regulated by the Care Quality Commission (CQC) and
monitor and regularly review our clinical operation against
the CQC framework.
 Policies and procedures are in place and regularly reviewed
 Patient feedback and incident reporting is in place| |**People**
The risk that we are unable to recruit
and retain the right people to support
our future strategy which may lead to
an inability to deliver services and
strategy| Although recruitment remains challenging, our reserves
enable us to continue be in a position to invest in our
development and growth
 We have made improvements to our statutory and
mandatory training for staff and widened the availability of
training opportunities within the charity. We remain
committed to provide greater training opportunities and
continuing professional development| **11 |** P a g e South Bucks Hospice ## **Structure, Governance & Management** ## **STRUCTURE** The Charity was originally constituted as a Charitable Trust and governed by a Trust Deed, dated 20th October 1986. On 17th December 2008, the Trust’s charter and all its assets were transferred and became a new Company, limited by guarantee, maintaining its charitable status and service aims. The Charitable Company is a company limited by guarantee and is registered with the Charities Commission as a Charity. The liability of its members in the event that the charitable company is wound up is limited to £1 per member. ## **TRUSTEES** The Charitable Company is managed by the Board of Trustees, who are unpaid directors for the purpose of company law. Appointment to the Board of Trustees is by resolution of the Board members. The trustees have no financial interest in the Charitable Company. Trustees are recruited to ensure that the Board maintains a suitable mix of skills, knowledge and experience for the Hospice, including clinical expertise. The power to appoint new trustees is vested in the existing trustees, in accordance with the Charitable Company’s Articles and Memorandum of Association. When new trustees are appointed they are inducted through a process of consultation with existing trustees. New trustees are given relevant training in the responsibilities and duties of trustees of the Company as set out in Charity Commission guidelines and the Company‘s Articles and Memorandum of Association. Further guidance is also provided to new trustees through Hospice UK, of which South Bucks Hospice is a member. review and direct South Bucks Hospice’s strategy and performance. It will determine overall policy and trustees are required to formally declare any conflicts of interest at each meeting. ## **MANAGEMENT** The Board delegate the day-to-day responsibility for the operation of the Charitable Company and its main services to the Chief Executive, assisted by staff and volunteers. Responsibilities were also delegated to its committees during the year which reported back to the Board on a regular basis. The pay of the Senior Management is set by the Board of Trustees and is based on remuneration levels for similar roles in other charities. ## **COMMITTEES** The two trustee led committees operated during the year, the Finance and General-Purpose Committee and the Clinical Committee These committees met at least four times during the year and all had trustees serving on them. A staff led Health and Safety Committee also met several times during the year. ## **RELATED ORGANISATIONS** The Charity has one wholly-owned subsidiary, South Bucks Hospice Development Company Ltd, which was formed on 6th August 2013 to construct a new hospice on behalf of the Charity. ## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES** The trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the trustees’ Annual Report and Accounts in accordance with applicable law and regulations. The Board meets at least four times per year to **12 |** P a g e South Bucks Hospice **Structure, Governance & Management** Company law requires the trustees to prepare accounts for each financial year. Under that law the trustees have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the accounts unless satisfied that they give a true and fair view of the state of affairs of the Charity and of the group and the incoming resources and application of resources, including the net income or expenditure of the group for the year. In preparing those accounts, the trustees are required to: - Select suitable accounting policies and then apply them consistently - Observe the methods and principles in the Charities SORP - Make judgments and estimates that are reasonable and prudent - State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts - Prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and the group and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - There is no relevant audit information of which the Charity’s auditor is unaware; and - The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. ## **PUBLIC BENEFIT** We have referred to the guidance in the Charity Commission’s general guidance on Public Benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees have considered how planned activities will contribute to the aims and objectives they have set. The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the Public Benefit guidance published by the Charities Commission in determining the activities undertaken by the Charity. The trustees have taken the exemptions available to small companies and have not prepared a Strategic Report. ## **CHARITY GOVERNANCE CODE** The Board of Trustees is committed to ensuring that high standards of governance are in place. As part of that commitment, the Board of Trustees will work to the Charity Governance Code. ## **APPROVAL** This report was approved by the trustees and signed on their behalf on 1 December 2022. ## David Ellis ## **D R Ellis OBE Chairman** In so far as the trustees are aware: **13 |** P a g e South Bucks Hospice **Independent Auditor’s Report to the Member of South Bucks Hospice** ## **Opinion** We have audited the financial statements of South Bucks Hospice for the year ended 31 March 2022 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance sheet, the Consolidated Cash flow Statement 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 groups and charitable company’s affairs as at 31 March 2022 and of the groups and charitable company’s net movement in funds, including the income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the groups 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. 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. **14 |** P a g e South Bucks Hospice ## **Independent Auditor’s Report to the Member of South Bucks Hospice** ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Trustees’ Annual Report (which includes the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the directors’ report included within the Trustees’ Annual Report have been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report** ## **by exception** In the light of the knowledge and understanding of the group and charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the strategic report and the directors’ report). We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the group and charitable company; or - the group and charitable company financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit ## **Responsibilities of trustees for the financial statements** As explained more fully in the trustees’ responsibilities statement set out on pages 12 and 13, 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 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. ## **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 noncompliance 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: Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to health and social care and **15 |** P a g e South Bucks Hospice **Independent Auditor’s Report to the Member of South Bucks Hospice** charity and company law applicable in England and Wales, and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition, in particular in relation to income from donations, legacies and income from charitable activities, and management override of controls. Audit procedures performed by the engagement team included: - Inspecting correspondence with regulators and tax authorities; - Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; - Evaluating management’s controls designed to prevent and detect irregularities; - Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; - Reviewing the cut-off of income recognised to consider whether income had been recognised in the correct accounting period; and - Challenging assumptions and judgements made by management in their critical accounting estimates. 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. 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. ## **Use of our report** This report is made solely to the group and charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed. _Steve Harper (Senior Statutory Auditor)_ _for and on behalf of Haysmacintyre LLP, Statutory Auditor_ _Date:_ 13 December 2022 _10 Queen Street Place, London, EC4R 1AG_ 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 noncompliance 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 **16 |** P a g e South Bucks Hospice **Consolidated Statement of Financial Activities for the Year Ended 31 March 2022** ## **(incorporating the income and expenditure account)** All amounts relate to continuing operations. All gains and losses recognised in the year are included in the Consolidated Statement of Financial Activities (SOFA). The Consolidated Statement of Financial Activities is for the Group. **17 |** P a g e South Bucks Hospice **Company registration Number: 06775584** ## **Consolidated & Charity Balance Sheets at 31 March 2022** The surplus of the Charity only prior to consolidation was £83,018 (2021: Surplus of £413,313). The financial statements on pages 17 to 27 were approved and authorised for issue by the Trustees on 1 December 2022 and signed on their behalf by ## David Ellis David Ellis OBE, Chairman **18 |** P a g e South Bucks Hospice ## **Consolidated & Charity Cash Flow Statements for the Year Ended 31 March 2022** **19 |** P a g e South Bucks Hospice **Notes to the Accounts** ## **1. ACCOUNTING POLICIES** ## **ENTITY INFORMATION** South Bucks Hospice is a company limited by guarantee (company number 06775584) registered in England and Wales. It is also a charity registered with the Charity Commission (charity number 1128881). Its registered address is shown on page 3. ## **BASIS OF PREPARATION OF ACCOUNTS** The financial statements have been prepared on the going concern basis and under the historic cost convention except for investments which are included at market value. ## **CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATES** In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the charities accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Specific judgements taken are included elsewhere within this note, including those over the depreciation rates utilized and the recognition of income. ## **INCOME** They comply with the Statement of Recommended Practice: Accounting and Reporting by Charities (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006, the Charities Act 2011 and UK Generally Accepted Practice. The Statement of Financial Activities (SOFA) and Balance Sheet consolidate the financial statements of the Charity and of its subsidiary undertaking on a line by line basis. No separate company Statement of Financial Activity (SOFA) has been prepared for the Charity as permitted by section 408 of the Companies Act 2006. The hospice meets the definition of a public benefit entity under FRS 102. The accounts are presented in pounds sterling, rounded to the nearest pound. ## **GOING CONCERN** The trustees consider there are no material uncertainties about the Charity’s ability to continue as a going concern. This assessment takes onto account the principal risks and uncertainties. The review of our financial position, reserves levels and future plans gives trustees confidence the Charity remains a going concern for the foreseeable future. All income is recognised when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is recognised when receipt is probable and there is sufficient information to value them. Goods donated for resale are included as income when they are sold. Gifts in kind and donated services are accounted for at a reasonable estimate of their value to the Charity. No amounts are included in the Financial Statements for services donated by volunteers. Grant income is treated on an accruals basis being brought into income in the period to which it relates. ## **EXPENDITURE** Expenditure is accounted for on an accruals basis. Governance costs are those costs which provide strategic direction and include the costs of the preparation and examination of the statutory accounts. Support costs include central functions and are allocated to activity costs based on a combination of headcount, staff time and transaction volumes. **20 |** P a g e South Bucks Hospice **Notes to the Accounts** ## **TANGIBLE FIXED ASSETS AND DEPRECIATION** Items of a fixed asset nature are only capitalised when the unit cost of the item exceeds £1,000 and they can be used for more than one year. Tangible fixed assets for use by the Charity are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets over their normal expected useful lives: ## **STOCK** Stock is stated at the lower of cost and net realisable value. Items donated for resale are included in the financial statements when they are sold. The trustees consider that the time and cost involved in valuing the donated goods at the time of donation and including them as stock at the year end outweigh the benefit to the user of the accounts. No value is placed on medical supplies. ## **GIFTS IN KIND** Freehold land: _Not depreciated_ Freehold buildings: _2% straight line_ Landscaping: _4% straight line_ Patient lift: 6.67 _% straight line_ Fencing: 10% straight line Leasehold premises and property improvements: _20% straight line or over the term of the lease if shorter_ Fixtures, fittings and equipment (exc. computers): _20% straight line_ Computer Equipment: _25% straight line_ Motor Vehicles: _25% straight line_ **INVESTMENTS** Listed investments are stated at market value. Realised and unrealised gains and losses on investments are dealt with in the Statement of Financial Activities. Unlisted investments are stated at cost as they cannot be reliably valued as there is no open market valuation available. ## **FINANCIAL INSTRUMENTS** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value. The Charity receives donated services in the form of voluntary help. In line with section 6 of the Charities SORP (FRS 102) this is not reflected in the Statement of Financial Activities as the financial value of the contribution of volunteers is not quantifiable. ## **TAXATION** The Charity is exempt from income and corporation tax on income and gains to the extent that these are applied to its charitable objectives. South Bucks Hospice Development Company Ltd was formed to build a new hospice for the Charity. It has no taxable profits as it invoices the Charity for work undertaken at cost. ## **PENSIONS** South Bucks Hospice employees may become members of a defined contribution pension scheme operated by an independent company to which the Charity also contributes. The amounts charged to the Statement of Financial Activities are charged as they fall due. ## **FUND ACCOUNTING** Funds held by the Charity are: - Unrestricted funds, which the trustees can use at their discretion for the furtherance of the Charity’s objectives - Designated funds, which the trustees set aside out of unrestricted general funds for a specific purpose or project - Restricted funds, which are subject to special conditions imposed by the donor or were raised for a particular restricted purpose. **21 |** P a g e South Bucks Hospice Notes to the Accounts 2 DONATIONS The intome received from donaiions includes 8ifts in kind valued ai nil12021-. £2,630.95). 3 CHARITABLE ACTIVITIES AND CLINICAL COMMISSIONING The income we receive from clinical commissioning has been classified under donations as It is given as grant rather than as a contractfor services. 4 INVESTMENT INCOME 2022 2021 Bankdeposit Interest 365 365 1,349 1.349 All inve5trnent income ID both the current and previou5year relate to unrestricted fund5. 5 Othgr Incom• 2022 2021 Govprnmentfjrants other Income 54,753 601,522 887 59.562 602A09 6 GOVERNANCE COSTS E021 External auditor5, remuneration other Total 14,531 3,833 18,364 11,672 3.161 14,833 7 EXPENDrruRE Charftsbl Artmtles 202E Total Charftsble Actfvitles E021 Total Rat51n8 Funds Ralsln8 Funds staff costs Other direct Costs SupportC05ts 442.460 406,943 84,286 338,296 283,585 62,361 780,756 690,528 146,647 378.298 203,562 99,755 327,718 248,299 65,556 706,076 451,861 165,311 Total 933.689 1.617.931 681,615 641.633 1.323.248 Anatysls 015upport Costs Charftsble AttMtI•s 2022 Total Charftsbl• Att￿lt￿•S 2021 Tot*1 Ralslng Funds Ralslng Funds Human re50urce5 and general management ITSupport Finance Govèrnance 37,368 9,618 25,079 12,221 23,371 20,311 12,536 6,143 60,739 29,929 37,615 18,364 34,419 9,731 45,569 10,036 21,517 17,515 21,727 4,797 55,936 27,246 67,296 14,833 Total 84.286 62.361 146.647 99,755 65.556 165.311 Supportcosts have been allocated on the basis of the accounting poliq 5etout in note l. 22 | Page south Bucks HospicÈ Notes to the Accounts 8 STAFF COSTS AND TRUSTEE EXPENSES Tutal staff ctssts E021 Wa8e5 ancl 5alarie5 737,374 58,397 30,493 826.264 674,523 46,736 18,831 740,090 Pension cost5 for defined contribution schemes Total ReduDdanLy and terminatlOD Costs included in expenditure duringtheyear were nil12021: £17,902). Employees receivingtotal employee benefits lexcludingemployer pension contributions) over £￿,000 in theyear.. one12021'. onel. The totsl amount of employee benefits received by the key m3na8ement personnel Iihe trustees and senior managemeniof the charity) for their services durin£ the year was £138,15612021.. EISS,0591. None of the trustees received any remuneration or any other benefits duringthe year12021.' £nill neither were they reimbursed expenses durin8 the Staff andvolunteer numbers The average number of Sta￿ employed by South Bucks Hospice duringthe year was.. 2022 Average head ount 2021 Average head Full tlme equhfalent Full tlme equfvalent 12.8 16.3 Charity shops Management and administration Total 16.8 15.2 14.4 13.2 36.6 26.7 38.1 26.2 The average number of volunteers supporting South Bucks Hospice durin8theyearwas'. 2022 2021 29 49 Fundraising and other Total 30 170 9 TANGIBLE FIXED AssEfs Freehold property Fre¢hold nd Leasehold property xtur¢s. flttlngs & equlpment Motor vehlde5 2022 Total Cost.. 4,328,129 685,495 66,617 454,469 15,125 5,549,835 Additions 14,6471 449,822 14,6471 5,545,188 Al 315t Marth 2022 4,328,129 685,495 66,617 15,125 Accumulated depreciation-. 339,037 66,448 287.824 4,647 44,615 337,086 15,125 708,434 4,647 131,346 844A27 Ch3r8e for the period At31st March 2022 86,562 425,599 169 66,617 15,115 Net book value At 31st March 2022 At 315t March 2021 3,Y)2,530 3,989,092 685,495 685,495 112,736 166,645 4,7(W),761 4,841,401 169 The tangible fixed a55et5 are for the Charityonly a5 there were no other tangible fixed assets within the Group, south Bucks HospicÈ Notes to the Accounts 10 INVESTMENTS 2022 Charfty Group 431,127 431,128 Addition5 40,156 471,283 40,156 471,284 At 315t March 2022 An4￿51$ of Investments 2022 2022 Chartty 2021 2021 Charfty GrOIIP Group Listed Inve5tment5 It marketvalue Unquoted investmeniat cost Total 454,604 16,679 471,283 454,604 16.680 471.284 414,448 16,679 431,127 414,448 16,680 431,128 Unquoted investment relates to the shareholding in Hospitt Lottery Partnership Ltd, owned equally by five local charities involved In the provision of h05pice or similar Servi￿5. Unquoted investments a150 include5 South 8uck5 Hospice's investment in South Buck5 Hospice Developmentcompanyof £1. 11 SUBSIDIARY South Butks Hospite Dèvelopment Ctsmpany ￿Mited is a wholly tswned Subsidiary of South Butks Hospite established as a tonstruttion Ètsmpany forthe PerceTrtwge of capitsl hèld No. of £1 ordlnary sharès hèld South Bucks Hospice Development Company Ltd Registered Company Number.. 8638747 The sutnmari5ed financial information of the SDUth BuEk5 H05pice Development Company wa5-. 2022 2021 Total income Total expenditure 1,000 1,000 A55ets Net ￿Sets IZ DEBTORS 202E 2022 Charfty 2021 E021 Charlty fjroup fjroup Taxation recoverable Other debtor5 Le8acie5 reco8ni5ed Prepayments Total 18*35 42,683 18.835 42.682 11,524 73,962 225,571 56,701 367,758 11,524 73,961 225,571 56.701 367,757 68,570 130,088 68.570 130.087 24 | Page south Bucks HospicÈ ## **Notes to the Accounts** The designated funds are funds set aside by the Board of Trustees for investment in hospice services, IT and other required equipment and upgrades. **25 |** P a g e South Bucks Hospice Notes to the Accounts 14 ANALYSIS OF NET ASSETS BETWEEN FUNDS l¢ontlnu•dl b}Chartty HO$￿Ce n•wbulkl 20Z2 Total Hosplce new 20ZI Totsl Othor Othqr Restrlded Funds Tangible f￿Ed assets Investments 1,729,784 31,146 1,760,930 1,816,347 54,177 1,870,524 14,517 14,517 2,970 2,970 Total net a55ets 1,729,784 45,663 1,775,447 1,816,347 57,147 1,873,494 DÈslghated Funds Tangiblefixed assets s0,c I66,￿7 266,007 330,0 330,0 Totsl nti assets 316,W7 316,W7 380,0 3￿,0 Funds Tangiblefixed assets Investments Current?ssets 2,858,241 31,590 471.284 I,552,￿2 2,889,831 471.284 1,552,982 1237,2391 2,920,877 431.128 1,180,317 I1￿,522) 2,920,877 431,128 1,180,317 I1￿,522) Totsi net assets 2,858,241 1,818,617 4,676,858 4,431,8 4,431,8 Total Funds Tangible f￿ed assets Investments 4,S88,025 112,736 471,284 1,833,506 4,7W,761 471,284 1,833,506 1,816,347 3,025,054 431,128 1,513,287 Ilm,5221 4,841,401 431,128 1,513,287 Ilm,5221 Total net a55ets 4,588,025 2,180,287 6,768,312 1,816,347 4,868,947 6,685,294 15 FUNDS Hosptcè n*wbulhl 2012 Hasplté néw 2011 Othor Total Oth•r Total Re%trlcted FuThd Total funds brought forward Income and gains 1,816,347 57,147 $8,510 179,9931 1,873,494 6B,510 1166,5561 1,902,910 79,417 302,645 1324,9151 1,982,327 302,64S 186,5631 186,5631 Transfers Toial funds Carried forward 1,729,784 45,664 1,775,448 1,816,347 57,147 1,873,494 Dq518nat•d Funds Toial Ivnds brou8hrfopward Income and 8ain5 380,( 380.0 380.0 Tran5fer5 Totsl funds carried forward 163.9931 316,(KTr7 (S3.￿3) 315,007 380,0 380,0 General Funds Totsl funds brou8htforward Income and gain5 4,431,8 1,632,439 4,431,8 1,632,439 4,289,654 830,6 1688,4541 4,289,654 830,6 1688,4541 Tran51erS Total funds carried forward 63,W3 4,676,857 63,993 4,675,857 4,431,8 4,431,8 Total Funds Total funds brou8htforward Income and gains Expenditure and1055e5 Trènslers Total fund5 carried forward 1,816,347 4,868,￿7 1,7N,949 6,685,294 1,7N,949 1,902,91Q 4,369,071 1,513,245 11,oia,3691 6,271,951 1,513,245 11,099,932) 186.56al 186,$631 1,729.784 5,038,528 6,768,312 1,816,347 4,868,947 6,685,294 Althe end LTrf the year no (aPItal￿MmitMents rernainEd15ee nDte 191. south Bucks HospicÈ ## **Notes to the Accounts** **27 |** P a g e South Bucks Hospice ## **Find out more** If you would like to find out more about our work and how you can support us, contact us at Butterfly House Kingswood Park High Wycombe Bucks HP13 6GR Tel: 01494 552750 Email **:** info@sbhospice.org.uk Web: www.sbh.org.uk ## **Make a donation** To donate visit us at **www.sbh.org.uk** or call **01494 552750** ## **Support us** To find out ways you can get involved with fundraising and volunteering call us on **01494 552750** ## **South Bucks Hospice** **@SBucksHospice** **----- Start of picture text -----**
South Bucks Hospice is a Company Limited by Guarantee | Registered in England and Wales
No. 6775584 | Registered Charity No. 1128881 | Registered office is Butterfly House, Kingswood
Park, High Wycombe, Buckinghamshire, HP13 6GR
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South Bucks Hospice