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2023-03-31-accounts

Annual Report and Accounts

2022-2023

Registered Charity Number: 1128881 Company Number: 06775584

Contents

Report of the Board of Trustees
References and administrative details 3
Chairman’s statement 4
About us 5
Our impact 6
Progress towards our 2022 - 23 strategic aims 7
Our focus for 2023 - 24 8
Our fundraising 9
Our finances 10
Principal risks and uncertainties 12
Structure, governance and management 13
Independent auditor’s report 15
Financial statements 18
Notes to the accounts 21
Find out more 29

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South Bucks Hospice

References and 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

PRINCIPAL SOLICITORS

PATRONS

S Baker MP Baroness Finlay of Llandaff M Harker OBE R Jefcoate CBE DL

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 H Y W Lau (Appointed 28 December 2022) J B Pickersgill (Vice Chairman) Dr S Procter S V Rabheru P J Watkins

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South Bucks Hospice

Chairman’s statement

already enabled us to evaluate our services more effectively and will allow us to improve our focus on our growth and development.

David Ellis OBE, Chairman

On behalf of everyone at South Bucks Hospice, I am delighted 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.

2022/23 was a busy year for the hospice. During the year we helped 658 people in need. We also widened the services that we offer through our group and bereavement programmes.

We saw an increase in demand for our services in the year with a significant increase in people being referred to our services.

The hospice was inspected by the Care Quality Commission in June 2022 and we were delighted to receive a ‘Good’ rating in all areas. We will continue to ensure that we provide high quality services and will work towards ensuring that we exceed the minimum standards required by the new framework being introduced by the Care Quality Commission.

We continued to raise awareness of the care we provide within both the healthcare and wider community. We remain keen to ensure that we link in with others in our community who offer complementary services that our patients may benefit from and to look for opportunities to collaborate.

Our aim to enhance the quality of life of those who need our care remains unchanged, and we continue to strive to achieve this aim in everything we do. As such, during the year we invested in our care service delivery, recruiting into key services to ensure that we can continue to meet demand and deliver high quality care that makes a real difference to the lives of those in need in our community.

Thanks to the generosity of our supporters, we also saw an increase in income to help people in need of our care. The number of people that needs our support is rising and so we must increase our income significantly to ensure that we continue to be there for those who need us. As such, income generation to fund our care remains a key priority for the hospice.

With that in mind we reviewed our retail strategy looking at opportunities to increase income from this source, including new outlets and increasing our online retail presence. A new outlet was opened as a result in September 2023.

Finally, I would like to thank our volunteers, staff and supporters for everything they have done and continue to do for the hospice and the people we care for. Your kindness makes a difference to people in our community during their hardest moments.

David Ellis

David Ellis OBE Chairman

We also made greater use of technology, moving to the cloud and automating more processes to improve efficiency within the charity. This has

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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:

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:

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 registered 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.

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South Bucks Hospice

Our impact

“South Bucks Hospice have been incredible and helped me tremendously in my journey - in actual fact they were my primary support, and have been the pillar of support that I desperately needed, I always felt welcome and well taken care of and the services they offer are amazing .. so thank you”.

“The nurse at South Bucks Hospice has been a great source of help and I know I can call her or ask to speak to her whenever I am struggling. I feel all of the staff are so caring and positive. From the minute I enter the building, the receptionists and everyone I see are so welcoming and kind.”

658

people were supported by the hospice during the year, of which:

290 people were referred to the hospice in the year

353 people were supported by the nursing team

367 people were cared for by the lymphoedema team

163 people received support from the counselling and bereavement service

“The support that I received was amazing and helped me get through a very difficult time - without the hospice’s help and support I am not sure how I would have coped!”

“South Bucks Hospice is a wonderful place that has literally changed my life and I am so grateful to everyone involved, in particular my specialist lymphoedema nurse. I feel blessed that I have access to the wonderful South Bucks Hospice.”

“The services South Bucks Hospice provide are invaluable and I am so grateful to have access to a place like this. All the staff are amazing, and they make you feel special and cared for.”

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South Bucks Hospice

Progress Towards Our 2022-23 Strategic Aims

1: SERVICE DEVELOPMENT

Referrals increased by 76% over the previous year as we emerged from the severe difficulties and disruption caused by Covid and 658 people were supported by the hospice in the year. Key to this was the recruitment of additional staff and volunteers.

The group programme at the hospice became more established and an Activities Coordinator was appointed to oversee this. Through the group programme the hospice now has a much wider offering of support, providing patients with more choice and opportunities to receive support and meet others.

2. ENGAGEMENT

Promotion of the care provision of the hospice in the healthcare community was a key objective for the year and many healthcare professionals visited the hospice to learn about the hospice’s work first hand. Self-facilitating NHS groups also utilised the premise to support collaborative working and cross-referrals during the year. Inroads were also made in promoting awareness of our services in the wider community.

Interactions with patients were increased through many means, including through:

be utilised more effectively, improve governance and reduce risk.

All data and applications were moved to the cloud. The primary driver for this was to enable greater mobility of working and improved cybersecurity.

Our clinical system was developed during the year to support patient care, fundraising and management decision making.

A new risk management system was implemented and a new volunteer database was also acquired to support the management and growth of the volunteer service.

4. FINANCING OUR FUTURE

A new retail growth strategy was developed during the year to optimise current operations and identify new opportunities. Implementation of the new strategy commenced in early 2023 and as a result an increase in income generation from retail has been achieved from Q4 of 2022/23 and beyond. The change in the terms of the Reuse contract were however fundamentally changed in April 2022 resulting in income from Reuse dropping significantly on 2021/22 levels.

5. STRATEGY AND GOVERNANCE

3. TECHNOLOGY

A Care Quality Commission inspection took place in June 2022 and the hospice received a ‘Good’ rating across all 5 categories (Safe, Effective, Caring, Responsive and Well led).

The capture and quality of clinical data improved considerably during the year. These changes have allowed clinical management to have a greater understanding of the care provision, where improvements can be made and areas for development.

Improvements in technology were a key aspect for 2022/23 to ensure that the technological developments support the future growth development of the hospice, enable resources to

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South Bucks Hospice

Our Focus for 2023-24

1. GROWTH IN CHARTABLE REACH TO ENSURE WE ARE PROVIDING MORE HOURS OF PATIENT CARE

The focus for Clinical will be to continue to build on the work undertaken in 2022/23, promoting our services in the healthcare community alongside aiming to improve access to palliative care for harder to reach groups.

We will continue to link in with local groups and organisations, looking at ways we may be able to collaborate with them or signpost service users who may benefit from their services.

We aim to increase the hours of care we offer, particularly in our Individual and Family Support Service. We will therefore recruit additional resources into this service in 2023/24.

Developing a new 3-year clinical strategic plan will also be a key focus in the year.

2. INCREASING AWARENESS IN THE COMMUNITY

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 will do this through improved communication and increasing person interactions.

Additional resource is required to help us share information about the care we provide and so we will look to invest in this.

We will make greater use of social media, increasing our presence and using improved imagery and video content.

We also aim to capture more patient stories to enable us to better communicate the impact of our care.

3. GROWTH IN INCOME GENERATION

We will work towards the implementation of the improvements and growth opportunities set out in the 2022 retail strategy. We will therefore aim to grow our online retail presence and acquire new retail outlets which can generate additional income to support our patient care.

We will recruit into our Fundraising department to support greater engagement with our community.

We will attend more events in the community, raising awareness of the care we provide and the need for increased funding to support our longterm financial sustainability.

We will improve our stewardship to strengthen and foster longer term relationships with our supporters.

We will refresh our branding and improve our marketing collateral to help increase awareness and share information about our services.

4. STRONGER GOVERNANCE AND A NEW 3-YEAR STRATEGY

Work on the development of a new 3-year strategy for the hospice will commence in 2023/24. The strategy is key to helping formulate and communicate the future growth and direction of the hospice.

We will continue to invest in the development of our risk management system, developing new modules to support greater oversight and governance across the hospice.

We will work towards the adoption of the new patient safety framework.

We will start the transition to the new Care Quality Commission framework utilising the risk management software to support this.

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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:

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:

We take any complaints raised seriously and investigate them promptly. All complaints are dealt with sympathetically and thoroughly.

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South Bucks Hospice

Our Finances

FINANCIAL SUMMARY

At the start of the year we anticipated making a significant loss for 2022/23, largely due to planned recruitment.

At the end of the financial year we made a deficit of £201,162 before unrealised losses on listed investments of £8,399. This deficit was significantly less than planned largely due to difficulties recruiting into roles resulting in expenditure being later than originally anticipated. The overall deficit including unrealised losses on investment was £209,561 for the year. A summary of the income and expenditure is as follows:

Net income 2023 2022 Change
£'000 £'000 %
Total income 1,654.1 1,660.8 (0.4%)
Total expenditure 1,855.3 1,617.9 14.7%
Net income (201.2) 42.9 (569.0%)
Unrealised
gains/(losses) on (8.4) 40.2 (120.9%)
investment
Net income (209.6) 83.1 (352.2%)

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 2023 2022 Change
source £'000 £'000 %
Fundraising 297.2 302.8 (1.8%)
Retail 217.8 298.0 (26.9%)
Investments (8.2) 40.5 (120.2%)
Other* 86.6 126.0 (31.2%)
Less expenditure
on objectives		 803.0 684.2 17.4%
Total (209.6) 83.1 (352.1%)

*Includes clinical commissioning and Covid-19 grants

INCOME

The Charity’s income, excluding unrealised gains and losses on investments, fell slightly from £1.661m to £1.654m.

This fall in income was largely due to a fall in other income which in 2021/22 included claims made under the Government’s furlough scheme and also other Covid-19 grants.

Retail income grew despite a change in the terms of the Reuse contract which impacted income generation in this area.

Income 2023 2022 Change
£'000 £'000 %
Statutoryincome 67.5 66.4 1.7%
Fundraising 419.3 413.5 1.4%
Retail 1,148.0 1,121.0 2.4%
Investments 0.2 0.4 (50.0%)
Other 19.1 59.6 (68.0%)
Total 1,654.1 1,660.9 (0.4%)
Gains/losses on
investments		 (8.4) 40.2 (120.9%)
Total 1,645.7 1,701.1 (3.3%)

EXPENDITURE

The Charity’s expenditure increased from £1.618m to £1.855m.

Expenditure 2023 2022 Change
£'000 £'000 %
Retail 930.2 823.0 13.0%
Other cost of raising
funds		 122.1 110.7 10.3%
Patient Care 803.0 684.2 17.4%
Total 1,855.3 1,617.9 14.7%

The main increase in our costs was as a result of investment in our care provision.

The increase in the cost of our retail operation was because costs had been curtailed in 2021/22 due to Covid-19.

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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 position and planned 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 once again. 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 for the year was to hold free reserves of at least 40% of projected annual operational expenditure. Our reserves level at the end of the year was higher than this however it reflects the increasing risk around income generation 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 longer-term 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 £1,727,861. 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.

The trustees are however mindful that the hospice’s income needs to increase significantly if it is to fulfil its longer term aims to provide greater palliative care support in the community

At 31 March 2023, South Bucks Hospice held total funds of £6,558,751 (2022: £6,768,312) of which £1,686,640 (2022: £1,775,448) was restricted. Of the total funds, £4,610,208 (2022: £4,700,761) 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 2022/23 we saw our investments decrease and there is unrealised deficit of £8,399. These longterm 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 £340,000 for investment in 2023/24 for the development of hospice services.

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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 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

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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

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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:

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.

In so far as the trustees are aware:

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 13 November 2023.

David Ellis

D R Ellis OBE Chairman

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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 2023 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:

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.

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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:

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 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:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on pages 13 and 14, 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

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South Bucks Hospice

Independent Auditor’s Report to the Member of South Bucks Hospice

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 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:

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 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.

Lee Stokes (Senior Statutory Auditor)

for and on behalf of Haysmacintyre LLP, Statutory Auditor

Date: 21 December 2023 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

17 | P a g e

South Bucks Hospice

Consolidated Statement of Financial Activities for the Year Ended 31 March 2023

(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.

18 | P a g e

South Bucks Hospice

Company registration Number: 06775584

Consolidated & Charity Balance Sheets at 31 March 2023

----- Start of picture text -----
2023 2023 2022 2022
Notes Group Charity Group Charity
£ £ £ £
Fixed assets
Tangible assets 9 4,610,207 4,610,207 4,700,761 4,700,761
Investments 10 462,884 462,885 471,283 471,284
5,073,091 5,073,092 5,172,044 5,172,045
Current assets
Stock 3,997 3,997 5,705 5,705
Debtors 12 140,361 140,360 130,088 130,087
Short term deposits 290,284 290,284 290,128 290,128
Cash at bank and in hand 1,246,904 1,246,904 1,407,586 1,407,586
1,681,546 1,681,545 1,833,507 1,833,506
Liabilities
Creditors: amounts falling due within one year 13 195,886 195,886 237,239 237,239
Net current assets 1,485,660 1,485,659 1,596,268 1,596,267
Total assets less current liabilities 6,558,751 6,558,751 6,768,312 6,768,312
Long Term Liabilities
- - - -
Creditors: amounts falling due after one year
Total assets less total liabilities 14 6,558,751 6,558,751 6,768,312 6,768,312
Funds:
Restricted funds 1,686,641 1,686,641 1,775,448 1,775,448
Unrestricted funds held as fixed assets 2,804,249 2,804,249 2,889,831 2,889,831
Funds designated for investment in hospice services 340,000 340,000 316,007 316,007
Free reserves 1,727,861 1,727,861 1,787,026 1,787,026
Unrestricted funds 4,872,110 4,872,110 4,992,864 4,992,864
Total funds 15 6,558,751 6,558,751 6,768,312 6,768,312
----- End of picture text -----

The deficit of the Charity only prior to consolidation was £209,561 (2022: Surplus of £83,018).

The financial statements on pages 18 to 28 were approved and authorised for issue by the Trustees on 13 November 2023 and signed on their behalf by

David Ellis

David Ellis OBE, Chairman

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South Bucks Hospice

Consolidated & Charity Cash Flow Statements for the Year Ended 31 March 2023

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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.

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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:

22 | P a g e

South Bucks Hospice

Notes to the Accounts 2 DONATIONS The income received from donations include5 8ifts in kind valued at £344.511202Z'. nill. 3 CHARITABLE ACTivrriES AND CLINICAL COMMISSIONING The income we receive from clinical cemmissioning has been classified under donations as it 1S8wen as8rantratherthin as a contrart forservice& 4 INVESTMENT INCOME 2023 2022 Bank deposit interest 365 155 365 All investment income in both the current and previousyearrelate to unrestricted funds. 5 Other Income 2023 2022 Govèrnment Grants 18.766 366 54.7S3 other Income 19.112 59.S62 6 GOVERNANCE COSTS 23 22 External auditors, remuner8tion other 16,576 4.683 21,259 14,531 3.833 7 EXPENDtruRE Rai51n8 Funds Charitable Activities 2023 Totsl RaisinE Funds Charitable Activities Totsl staff costs other direct Costs Support Costs 452,187 479,559 120,536 431991 278,620 91A02 &85,178 758,179 211,938 442,460 406,943 338.296 283,585 61361 780.756 s￿,528 146.647 Total L052.282 803.013 1.85S.295 933.689 684.242 1.617.931 Anatys150f SuppNt Costs Raising Funds Charitable Attlvltl@5 2021 Totsl Ra151nE Funds Charitable Attlvltlès Totsl Human resources and gener81 man8gement ITSupport Finance Governan 62, 13,258 30,345 14,143 42,710 26,053 15,523 7,116 105,5(M) 39,311 45,868 21,259 37,368 9,618 25,079 12,221 23.371 20.311 12,536 6.143 60,n9 29.929 37,fj15 18.364 Total 211.938 361 146.647 Support costs have been allotsted on the basis of the accounting poliLV 5etout in note l. south Bucks HospicÈ

Notes to the Accounts 8 STAFF COSTS AND TRUSTEE EXPENSES Totsl stalla)5ts Wages and ￿larIeS Social securty costs Pension E05t5 fordefined cy)ntribution 5Ehetne5 Total 869,8 72,974 37.673 .447 n7,374 58,397 30.493 826.264 Redundancy andlermination C05t5 induded in expenditure durin8theyearwere nil12022.' nill. Employees recelvlngtotal employee beneflts lexcludlng employer pènglon contrlbutlonsl over £60.(￿ Inthe year.. one12022.' onel- The total amount of employee benefits re￿IVed bythe key managementpersonnel (the tru5tee5and Senior management of the charity) fortheir service5 dunngthe year £144,043120Z2.' £138,156). None of thetru5tees recelved any remuner3tlon orany other benefits dunngtheyear12022'. £nlll neltherwerethey relmbursed expenses durlng the year12022.' £nill. Stsfland volunteer numbus The average numberof 5tsff employed bysouth Bucks Hospice duringthe yearwa5'. 2023 Avetage head count Full time eqvlv8lent Average head ¢ourf Fulltlme eoulvaletht Charitable artivitie5 13.1 12.8 Charity shop5 Management and administration Total 19.5 16.8 16.8 31.8 The average numberof volunteer5 5UPPOrtingSouth BUC￿ H05pice duringthe yearwa5'. 2022 No. No. Charltable attivities 59 29 49 Fundraisingand other TOt81 19 9 TANGIBLE FIXED ASs￿s Freehold p￿pertY Freehold land Leasehold Flxtuies. flifings ptoperty & equipment Moior vehicles Total C05t'. At 1stApril 2022 Additions 4328,129 6&5,495 60,617 449,822 13,512 12.7741 ,5 5,545,188 19,112 12.7141 5.561,526 At 315t Marth 2023 4328.129 6&5,495 71217 Accumulated depreciation.. At 15tApril 2022 4￿,599 60,617 337,086 844,427 Charge forthe period At 315t March 2023 86.563 51L162 20,049 357,135 106.892 951,319 66,897 Net bookvalue At 315t March 2023 3,815,967 3,902.530 685,495 685.495 5,320 103,426 112,730 4.610,208 4,7W.7fj1 At 315t Ma￿￿ 2022 The tsnglble flxed a95etsare forthe Ch3rlty only 3Sthere were no othertanglble flxed a5setswlthln the Group. 24 | Page south Bucks HospicÈ

Notes to the Accounts 10 INVESTMENTS 2023 Group 2023 Chartty 471,283 471.284 183991 462,884 18,3991 462W5 At 315t March 2023 Anatysls ollnvestments 1023 Group 20ZJ Charfty Z021 Group 1022 Char￿¥ sted Investments ai market value Unquotsd InveS￿ent aicost 446,205 16,679 462,884 446,205 16,680 462,885 454,604 16.679 471.283 454,604 16,680 471,284 Unquoted Investment relates lo the Shareholding In Hospi￿ Lottery Partnership Lid, owned equally by five local charities involved in the prov15ion of hospice or similar services. Unquoted investments also includes South Bucks HospI￿'S investment In South Bucks Hospice Development Company of £1. 11 SUBSIDIARY South Bucks Hospice Development Company ￿MIted is 3 whollyowned Subsidiary of South Bucks Hospi￿ established as a con5truciion companyforthe new P¢rcentaKe of ¢apkal h•ld No. of £1 ordlnary shams h*ld Stsuth Bucks Hospice Developmenicompany Ltd Registered Company Number 8638747 The 5umrn3ri5ed financial informatlDn Df the SDUth Buck5 HD5pice DevelopmpntComp3nywaS 2023 2022 Total income A55ets NetAssets 12 DEBTORS 202Y 2023 Charfty 2022 2022 Chartty fjroup fjroup Taxation recoverable other debtors Legacies recogn15ed Prepayments 24,543 50,178 24,543 50,177 18,835 42,683 I8￿35 42,682 65,640 140,361 65,640 140,360 68,570 130,088 68,570 130,087 south Bucks HospicÈ

Notes to the Accounts

13 CREDITORS

Amounts falling due within one year

2023
2023
2022
2022
Group
Charity
Group
Charity
£
£
£
£
Trade creditors
Taxation and social security
Other creditors
Accruals		 41,756
41,756
102,332
102,332
29,632
29,632
21,840
21,840
252
252
168
168
124,246
124,246
112,899
112,899
Total
Amounts falling due after one year		 195,886
195,886
237,239
237,239
2022
2022
2022
2022
Group
Charity
Group
Charity
£
£
£
£
Total -
-
-
-

Accruals includes £0 owed to the subsidiary company, South Bucks Hospice Development Company (2022: £nil).

14 ANALYSIS OF NET ASSETS BETWEEN FUNDS

a) Group

a) Group
Restricted Funds Hospice
new build
Other
2023
Total
Hospice new
build
Other
2022 Total
£
£
£
£
£
£
Tangible fixed assets
Investments
Current assets
Current liabilities
Longterm liabilities		 1,643,222.00
27,736.00
1,670,958.00
1,729,784
31,146
1,760,930
0.00
0.00
0.00
-
-
-
0.00
15,683.00
15,683.00
-
14,518
14,518
0.00
0.00
0.00
-
-
-
0.00
0.00
0.00
-
-
-
Total net assets
Designated Funds
Tangible fixed assets
Investments
Current assets
Current liabilities
Longterm liabilities		 1,643,222.00
43,419.00
1,686,641.00
1,729,784
45,664
1,775,448
0.00
135,000.00
135,000.00
-
50,000
50,000
0.00
0.00
0.00
-
-
-
0.00
205,000.00
205,000.00
-
266,007
266,007
0.00
0.00
0.00
-
-
-
0.00
0.00
0.00
-
-
-
Total net assets
General Funds
Tangible fixed assets
Investments
Current assets
Current liabilities
Longterm liabilities		 0.00
340,000.00
340,000.00
-
316,007
316,007
2,858,240.00
-53,991.00
2,804,249.00
2,858,241
31,590
2,889,831
0.00
462,884.00
462,884.00
-
471,283
471,283
0.00
1,460,863.00
1,460,863.00
-
1,552,982
1,552,982
0.00
-195,886.00
-195,886.00
-
(237,239)
(237,239)
0.00
0.00
0.00
-
-
-
Total net assets
Total Funds
Tangible fixed assets
Investments
Current assets
Current liabilities
Longterm liabilities		 2,858,240.00
1,673,870.00
4,532,110.00
2,858,241
1,818,616
4,676,857
4,501,462.00
108,745.00
4,610,207.00
4,588,025
112,736
4,700,761
0.00
462,884.00
462,884.00
-
471,283
471,283
0.00
1,681,546.00
1,681,546.00
-
1,833,507
1,833,507
0.00
-195,886.00
-195,886.00
-
(237,239)
(237,239)
0.00
0.00
0.00
-
-
-
Total net assets 4,501,462.00
2,057,289.00
6,558,751.00
4,588,025
2,180,287
6,768,312

The designated funds are funds set aside by the Board of Trustees for investment in hospice services, IT and other required equipment and upgrades.

26 | P a g e

South Bucks Hospice

Notes to the Accounts

14 ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)

b) Charity

Restricted Funds Hospice
new build
Other
2023
Total
Hospice new
build
Other
2022 Total
£
£
£
£
£
£
Tangible fixed assets
Investments
Current assets
Current liabilities
Longterm liabilities		 1,643,222
27,736
1,670,958
1,729,784
31,146
1,760,930
-
-
-
-
-
-
-
15,683
15,683
-
14,518
14,518
-
-
-
-
-
-
-
-
-
-
-
-
Total net assets
Designated Funds
Tangible fixed assets
Investments
Current assets
Current liabilities
Longterm liabilities		 1,643,222
43,419
1,686,641
1,729,784
45,664
1,775,448
-
135,000
135,000
-
50,000
50,000
-
-
-
-
-
-
-
205,000
205,000
-
266,007
266,007
-
-
-
-
-
-
-
-
-
-
-
-
Total net assets
General Funds
Tangible fixed assets
Investments
Current assets
Current liabilities
Longterm liabilities		 -
340,000
340,000
-
316,007
316,007
2,858,240
(53,991)
2,804,249
2,858,241
31,590
2,889,831
-
462,885
462,885
-
471,284
471,284
-
1,460,862
1,460,862
-
1,552,981
1,552,981
-
(195,886)
(195,886)
-
(237,239)
(237,239)
-
-
-
-
-
-
Total net assets
Total Funds
Tangible fixed assets
Investments
Current assets
Current liabilities
Longterm liabilities		 2,858,240
1,673,870
4,532,110
2,858,241
1,818,616
4,676,857
4,501,462
108,745
4,610,207
4,588,025
112,736
4,700,761
-
462,885
462,885
-
471,284
471,284
-
1,681,545
1,681,545
-
1,833,506
1,833,506
-
(195,886)
(195,886)
-
(237,239)
(237,239)
-
-
-
-
-
-
Total net assets
15 FUNDS
Restricted Funds		 4,501,462
2,057,289
6,558,751
4,588,025
2,180,287
6,768,312
Hospice
new build
Other
2023
Total
Hospice new
build
Other
2022 Total
£
£
£
£
£
£
Total funds brought forward
Income and gains
Expenditure and losses
Transfers		 1,729,784
45,664
1,775,448
1,816,347
57,147
1,873,494
-
58,858
58,858
-
68,510
68,510
(86,563)
(60,069)
(146,632)
(86,563)
(79,993)
(166,556)
-
(1,033)
(1,033)
-
-
-
Total funds carried forward
Designated Funds
Total funds brought forward
Income and gains
Expenditure and losses
Transfers		 1,643,221
43,420
1,686,641
1,729,784
45,664
1,775,448
-
316,007
316,007
-
380,000
380,000
-
-
-
-
-
-
-
(134,602)
(134,602)
-
-
-
158,595
158,595
-
(63,993)
(63,993)
Total funds carried forward
General Funds
Total funds brought forward
Income and gains
Expenditure and losses
Transfers		 -
340,000
340,000
-
316,007
316,007
-
4,676,857
4,676,857
-
4,431,800
4,431,800
-
1,586,875
1,586,875
-
1,632,439
1,632,439
-
(1,574,060)
(1,574,060)
-
(1,451,375)
(1,451,375)
(157,562)
(157,562)
63,993
63,993
Total funds carried forward
Total Funds
Total funds brought forward
Income and gains
Expenditure and losses
Transfers		 -
4,532,110
4,532,110
-
4,676,857
4,676,857
1,729,784
5,038,528
6,768,312
1,816,347
4,868,947
6,685,294
-
1,645,733
1,645,733
-
1,700,949
1,700,949
(86,563)
(1,768,731)
(1,855,294)
(86,563)
(1,531,368)
(1,617,931)
-
-
-
-
-
-
Total funds carried forward 1,643,221
4,915,530
6,558,751
1,729,784
5,038,528
6,768,312

At the end of the year no capital commitments remained (see note 19).

27 | P a g e

South Bucks Hospice

Notes to the Accounts

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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

South Bucks Hospice 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

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