RENNIE GROVE HOSPICE CARE TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Registered Company Number: 7479930 Registered Charity Number: 1140386 CONTENTS Administrative details Trustees, Report Independent Auditors Report 21 Consolidated Statement of Financial Activities 24 Consolidated and Charity Balance Sheets 25 Consolidated Statement of Cash Flows 26 Notes to the Financial Statements 27 IIPage RENNIE GROVE HOSPICE CARE ADMINISTRATIVE DETAILS Charity Name Rennie Grove Hospice Care Charity Number 11¢10386 Company Number 7479930 Registered Office Grove House Waverley Road St Albans Hertfordshire, AL3 5QX Trustees Dr J Shindler (Chairman) (Appointed 26 january 2023) Mr C Inman OBE (Vice Chairman) Mr J Wroe (Treasurer) Mrs E Moralez-Perez (Appointed 26 January 2023) Mrs E Coleridge Smith {Appointed 26 January 2023) Mr G Davis (Appointed 26 January 2023) Mr A Graham MBE (Appointed 26 January 2023) Mr M Ferguson Mr S Hamill Mrs S Hill (Appolnted 26 January 2023) Mrs J Langfield (Appointed 26 January 2023) Ms J Morosco (Appointed 26 lanuary 2023) Mr R Russell-Hogg (Appointed 26 january 2023) Dr A Wairswright Mrs L Bailee (Resigned 26 January 2023) Mrs l MacLeod (Resigned 26 january 2023) Mrs P Nightingale (Resigned 26 January 2023) Mr E Pillinger (resigned 26 January 2023) Professor S Spiro OBE (Reslgned 26 lanuary 2023) Mr G Upward (Resigned 26 January 2023) Mrs E Moralez-Perez Company Secretary Chief Executlve Executive Board Mr DS Marks Mrs J Westlake-Tritton Dr Sarah Klinger Mrs P Pickersgill Ms R Ahmad Mrs T Hancock Mrs D Gould Auditors Haysmacintyre LLP 10 Queen Street Pla London, EC4R IAG Bankers Barclays Bank plc Corporate Banking Suite 11 Bank Court Hemel Hempstead Hertfordshlre HPI IBX Sherrard5 Soliators 4 Beaconsfield Roa st Albans ALI 3RD Solicitors 21Page RENNXE GROVE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES. REPORT The Board of Trustees presents its Annual Report and Financial Statements for the year ended 31 March 2023 which comply with the requirements of the Companies Act 2006, The Charities Statement of Recommended Practice (SORP) and the CharitiesAct 2011. The Trustees, Report incorporates the requirements of the Strategic Report as required by the Companies Att2006 (Strategic Report and Directors, Report) Regulations 2013. In this Trustees, Report"the Group" refers to Rennie Grove Peace Hospice Care (Rennie Grove Peace) and its subsidiaries; 'RG Group" is Rennie Grove Hospice Care (RG) and its subsidlaries lain Rennie Hospice Services Limited, St Albans and Dacorum Day Hospice and The Iain Rennie Hospice at Home the"Charity" is Rennie Grove Hospice Care. RENNIE GROVE PEACE HOSPICE CARE In June 2022 after a successful period of collaboration, the Trustees of Rennie Grove Hospice Care (RG) and Peace Hospice Care (PH) announced their intention to merge the two organisations into one new charity, called Rennie Grove Peace Hospi￿ Care (Rennie Grove Peace). The new Charity was incorporated on 14 September 2022 and registered by the Charity Commission on 25 January 2023. On 25 January 2023, Rennie Grove Peace acquired ownership of RG and PH by way of transfer of ownership from the respective members of RG and PH to Rennie Grove Peace for nil consideration. Rennie Grove Peace is a member owned charity, and its sole members are its Trustees. During the year the operations of the Group were largely carried out by RG and PH. The Group provides palliative, end-of-life advi￿, support, educdtion and a wide range of services to those people who are registered with a West Hert5 or Buckinghamshire GP practice. The Group is a specialist palliative care provider whose services are delivered by a multi-disciplinary team of Nurses, Dottors, Allied Health Professionals, therapists, support staff and volunteers who will ensure the right service is delivered by the right person at the right time. Professional and self- referrals are received for those patients and those who care for them, including the Health andlor Social care workforce. The driving for￿ behind the merger of RG and PH is the goal to increase both the reach and scope of services provided by the t￿0 legacy charities. This includes high-quality care for those facing life- limiting illness, as well as bereavement counselling services for anyone affecLed by grief. The Group has three clear aims: Serve - provide a wider range of seNices to support people in West Herts and Bucks to live as well as possible as they near the end of their lives Reach- develop new and enhanced services to reach all sections of the local communlty and meet their ch3nging needs strengthen- use our strengthened combined voice to secure the resour￿5 needed to ensure every local person receives the care they need, when they need it RENNIE GROVE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 PUBLIC BENEFIT RG is a Public Benefit Entity. The Trustees confirm that they have complied with their duty under section 17 of the Charities Act 2011. They have considered the public benefit guidance published by the Charity Commission and believe that they have followed it. This report provides details of the areas of charitable activity undertaken by RG. The focus of Rennie Grove is to ensure that patients livlng In the Bucks and West Hertfordshire areas with a palliative diagnosis have the Choi￿ about how and where they want to be cared for towards the end of life. RG provides seNices in line with the aim of the NationBI End of Life Care Strategy (2008) to provide services people need to enable them to be cared for at home and to die there if that is their choice. It also accords with the Department of Health Publication, 'Our commitment to you for end-of-life care.. the Government Response to the Review of choi￿ in End of Life Care (2016),. In addltlon, RG is committed to An7bitlons for Palliative and End of Life Care." A national frametvork for local action 2021-2026. The National Palliative and End of Life Care Partnership created this framework to'improve end of life care through partnership and collaborative action between organisations at a local level throughout England" GOVERNANCE The sole member of RG is Rennie Grove Peace. Following the establishment of the Group, the governance arrangements of the Charity were incorporated into the g0Veman￿ of Rennie Grove Peace and are described below. Charity Governance Code The Charity Governance Code (the Code) is a set of principles and recommended good practi against which Charities may compare themselves and identify areas of strength and for potential improvement. The Code includes seven principles which the Board of Trustees of Rennie Grove Peace has considered in its alm to ensure continued strong governance of the Group. OryanisatsonalPurpose The Board of Trustees of Rennie Grove Peace maintains the vision and mission of the Group. It approves the strategy, operational plans and budget. The Trustees operate as a team and re￿1ve reports from management to ensure the proper functioning of the Group. Key governance highlights In the year included establishing an effective committee structure to take the new Group forward, including defining relevant terms of referen￿. The Group Board was able to base the new organisation's structure on the best features of each of the legacy charities. 41PaLie RENNIE GROVE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 Leadership The Board maintains responsibility for ensuring the strategy of Rennie Grove Peace is established and followed. The Board has a wide range of clinical and non-clinical abilities and experience from a variety of backgrounds. By meeting regularly with management and clinical staff, the Group Board ensures that leadershlp and management are integrated for the good of Rennie Grove Pea￿. Integrity The culture of the Board supports independent and challenging thought accompanied by a supportive ethos. Procedures are in place to prevent conflicts of interest and to ensure the Board is independent in its decision maklng. Decision Making/ Riskand Contml The Board has developed an effective structure of board committees and working groups. This allows Board members and management to effectively implement the strategic priorities of Rennie Grove Pea￿ whilst allowing the Board time to focus on strategic developments. Operational matters are delegated to the senior management team who report on key strategic developments to the Board. Importan￿ is pla￿d on effettive risk management and considerable progress has been made in the year in establishing risk management processes. Board Effectiveness The Group Chair will carry out governance reviews 5UPPOrted by the Governance Committee to ensure the process for the recruitment, appointment and retirement of the Board members is effective. An inducbon process for new Trustees is in place. Mandatory E-learning is in line with staff and the Chair agrees other training directly with individual Trustees. Equality, Diversity & Indusion The Board recognises that a variety of perspectives, backgrounds and skills is essential for good governance. These matters are considered as part of the prO￿s5 for nominating new Trustees. Openness andAccountability The Board pla￿S great importance in ensuring that the Group's seNices and activities and impact are reported to all stakeholders in a transparent manner. Key information is made available to staff and volunteers by the Chair and Chief Executlve. We actively seek feedback on all clinical activities. RG Group Structure RG has three subsidiary companies: The Iain Rennie Hosp1￿ at Home, Iain Rennie Hospice Services ￿mIted, and St Albans and Dacorum Day Hospice The Iain Rennie H05pice at Home holds the asset of our Gillian King House building. The financial results of all subsidiaries are consolidated into the financial statements of Rennie Grove. RG has a 33 % shareholding in The Hospice Lottery Partnership Limited, a company which operates a lottery to raise funds for RG and the other partners. 51Page RENNIE GROVE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees of Rennie Grove Peace and RG are volunteers from the local communlty who bring a range of expert skills to set the Group's overall vision and strategic direction. They ensure compliance with relevant legislation and that regulatory standards are met, quality is monitored, and services are effective, as well as overseeing efficient finanaal stewardship and the financial planning of the charity. The Group Board of Trustees have agreed delegation of its powers through the Chief Executive (CE) and five Committees of the Board of Rennie Grove Pea￿ which are described below: Governance Committee The purpose of the Governance Committee is tr) oversee the governance arrangements of the Group and make recommendations to the Board. In particular, the Committee: Review5 the size and cornposition of the Board and its committees and makes recommendations on the appointment of individuals to the Board. Supports the Chair in the annual Board Effectiveness Review. Recommends to the Board the appointment of the Chlef Executive. Oversees the remuneration paid to the Chief Executive and the Executive Board members and the overall remuneration framework for the Charity's employees. An external company was commissioned to carry out a benchmarking exercise. Clinical Governance Committee The purpose of the Commlttee is to advise the Board in relation to the Group's development of the Clinical Strategy and the delivery of the underpinning annual patient services work plan and agreed Key Performance Indicators (KPIS). In particular, the Committee.. Horizon scans to identify opportunities to maximise patient serVI￿S growth and fvture Servi￿ developments which are responsive in reaching more people and refiect our locality needs. Re￿]VeS assurance that there are effective clinical quality assurance and clinical governance control systems established and maintained across the orgahisation, demonstrable outcomes and measurable impact. Provides assurance to the board that the clinical services are continuously striving to improve care, while remaining compliant with all legislative and regulatory requirements and with consideration of the organisation wide sustsinability and digital transformation strategles. Identifies and define the accepted risk levels arlsing from the Group's clinical operations and any increase in attivity and innovatlon risks to the Board. Development Operations & Performance Committee The purpose of the Comrnittee is to provide assurance to the Board on the development, operations and performan￿ of the Group s strategic ambitions and annual operational plan, highSighting new operational rlsks which may arise out of the development of the plan for the directorates that report to this committee, and monitor.. Finanaal and operaUonal performan￿ and risk The overall Integrity of the Group's intemal financial and operational reporting The Group's operational controls. Recommendations for developments involving tanglble fixed assets. Risk and Audit Committee The purpose of the Committee is to provide assurance to the Board that the Charity's responsibilities regarding financial legislation and regulatlons are met. It reviews overall risk 61Page RENNIE GROVE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 management assessmen¢ controls and mitigations processes and continuous quality improvement. Thls includes.. Reviewing, on behalf of the Board, the integrity of external financlal reporting Overseeing the relationshlp with'the external auditor Monltoring quality and assurance improvement systems and compliance with external regulations Reviewing risk management systems Investment Committee The purpose of the Committee is to monitor the financial resources and liabilities of the Charity. This includes monitoring internal financial controls relating to cash, marketable investments, financial liabilities, and other liquid resources of Rennie Grove Pea￿, considering the Board's attitude to financial risk and the financial sustainability of Rennie Grove Peace. It also indudes monitoring the perf0rrnan￿ of banking counterparties and investments advisors. The Board of Trustees agrees the terms of reference for the five committees which have clear, delegated authorities. The Board monitors performance of the committees through reports received at Board Meetings and an annual report. Certain matters are reserved for the Board and members of the. Executive Board are invlted to attend Board and Board Committee meetings as appropriate. Executlve Board The Rennie Grove Peao Executive Board (EB) is led by the Chief Executive (CE) who is appointed by, and accountsble to, the Trustees. The EB has resporsibility for the day-to-day management of the Charity, ensuring it functions within the law in accordan￿ with tharity Commission regulations, Care Quality Commission standards, Scheme of Delegation Policy and other relevant regulations. The EB consists of CE, ￿lef ainical Office, Medical Dirthr, Director of Development, Operations & Performance, Director of People & Culture, Director of Marketing, Dlrector of Fundraisingi and Director of Retail &Trading CLINICAL ACTIVITIES In 2022-23 Rennie Grove Hospice Care cared for 2,600 patients. This included 1,804 Hospice at Home patients for adults and children (1748 adults and 56 children). 238 patients and carers were seen by the wider Rennie Grove services and 509 were contacted by our Family Support serVi￿S. Our Rapid Personallsed Care Service cared for 407 patients. 173 patients attended Living Well seNI￿s, 177 patients were seen at Nurse Assessment clinic, 51 at Speaalist Nurse ainic, 292 by Occupational Therapy, 129 by Physiotherapy and 268 patients had Complimentsry Therapy, 102 patients attended Day Courses. Our Children's Hospice at Home service cared for 56 children and their families in 2022-23 and 86 contscted children's support servI￿s. We are continually reviewing our ability to respond to increasing demands for support and Services from patsents. Below is an outline of our current seNices which allow us to provide 7jPage RENNIE GROVE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 holistic care, treatment and support to our patients and their families. As a registered charity, we rely on the generosity of the local community to fund around 75 % of our annual running costs, allowing us to care for many hundreds of patients and families every year. Our care is provided at no cost to our patients and families and is made possible by the generous donations we receive from our local community as well as the dedication of our staff and the commitment of over 1,500 volunteers. Our SeNices delivered during the year to 31 March 2023 are described below: Hospice at Home Service Is unique in the local area, offering specialist care at home through a combination of planned and responsive visits by our teams of nurses and healthcare assistants, We offer practical nursing care and advice 24 hours a day to help you control your symptoms and avold unnecessary hospital admissions, keeping you at home with your loved ones. Children s Services Providing a specialist 2417 Children's Hospice at Home Service for babies, children, and young people up to the age of 19 living with a life-limiting condition in parts of Buckinghamshire and Hertrordshire. Our team of children's nurses provides flexible and responsive care tailored to each family's needs to help ensure that the children can fulfil their potential and enjoy the best quality of life pO￿￿ble, however short that life may be. In addition to practical nursing care, Rennie Grove Children's Nurses provide vital advice and 5UPPOrt to parents equlpping them with the skills and signposting them to the resources they need to be able to care for their child at home. Often a visit from a Rennie Grove nurse can help a parent stabilise a child's condition, set minds at rest and avoid the distress of an Unne￿SSary hospital admission. Rapid Personalised Care Service (RPCS) Fast-track continuing health care, funded by the Clinical Commlssioning Group for 12 weeks. It is designed to offer personalised care for a period of up to 12 weeks to provide people with the daily support they need to remain safe and comfortable at home during their final weeks of life. The team of trained healthcare assistants, along-side a care coordinator and service lead will be involved in your care to give you the specialist support you need. Healthcare professionals will have referred you to our service to receive a package of care to support you and your family at this difficult time. The Buckinghamshire Rapid Personalised Care Service was introduced in January 2022 and is a pilot service which we hope will become a substantive service for our Buckinghamshire patients in 2023. It is modelled on the successful Hertfordshire RPCS service and offers fast-track continuing health care which is funded by Buckinghamshire Clinical Commissioning Group for 12 weeks. The Servi￿ Is designed to offer personalised care for a period of up to 12 weeks to provide people with the daily support they need to remain safe and comfortable at home during their final weeks of life. Living Wellservices Our Llvlng Well servi￿ at Grove House 15 a positive and artive pla￿ offering practical care and social support for patients diagnosed with cancer or other life-limiting illness. All patients in 81Pa&ic RENNIE GROVE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Living Well are continually monitored and assessed by specialist nurses who offer symptom management and emotional support. You can also get support from other patients and volunteers in a group Setting. Specialistlvurse Clinic These clinics are designed to provlde patients with access to specialist care whilst maintaining their independence. The emphasis will be on giving you control and helping you to manage your own health and wellbeing. Our Specialist Nurse Clinic offers.. Ongoing monitoring and management of symptoms and conditions Specialist advice on side-effects from treatment Ongoing support, including coplng strategies and psychological support Slgnposting to other appropriate seNices OPERATIONAL REVIEW AND ACHIEVEMENTS FOR THE YEAR During the year the focus of the Group has been on the planning and implementation of the merger. The paragraphs below desciibe the key activities undertaken in the year. Padent Servi New organisational struttures have been implemented within Rennie Grove Peace clinical services and this has included a significant level of development. A clinical coordination ￿ntre has been highlighted as a priority to provide a more coordinated and effective approach to care within Rennie Grove Peace setvices to ensure that patients are able to receive care from the right person, in the right place and at the right time. A project is underway to develop this with implementation planned for later in 2023. There has been a huge focus on recruitment as this remains a significant challenge for Rennie Grove Peace clinical services in line with most healthcare organisations nationally. New roles including paramedics and a nurse consultant have been added to provide a wider mix of skills, in addition to several examples of internal development and promotion which have been designed to strengthen the leadership and delivery of clinical services. A considerable amount of work has been done to clarify the GP alignments and population sizes of Rennie Grove Pea￿ clinical teams to reduce unnecessary duplication of seNices and to ensure more seamless services for patients. All Rennie Grove pea￿ clinical servi￿5 (except for the Improving Access to Psychological Therapies (IAPT) servi￿) are now using the same electronic patient record system (Systemone) which allows dearer communication internally and allows increased visibility of information from other healthcare organisations who are also caring for the patients. Rennie Grove Peace have been a collaborative partner in the development of a system wide, specialist psychology service for can￿r and palliative care patients in West Hertfordshire which ensures more support to patients. The Clinical Leadership Team have been developing Ilnks with other providers to explore collaboratlve working opportunities with NHS, social care and voluntary sector organisations. 91 P(IgTe RENNIE GROVE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 Fundraising We have restructured the fundraising team, combining the ￿0 team5 from the legacy charities and recruiting to the posts which were vacant. This will create a strong, diverse, and experienced team to deliver our goals and targets. Rennie Grove Pea￿ saw exceptional legacy income in the year, which, along with exceedlng target across fundraising, meant we closed the year ahead of our target. The relaunch of the Herts IOK was a remarkable success, attracting previous and new runners to the event. We also saw membership of our VI￿ Presidents scheme grow, attracting new donors to give at a higher level to support the development of our work. Key achievements included the Big Give Challenge, which reached its increased target of £80,000 within four days and the Chiltern 3 Peaks Walk which raised £55,561. Data continued to be at the heart of our activity, ensuring we can provlde every supporter wlth the best possible experience and increase the lifetime value of those who so generously give to help us deliver our seNices. Fundraising during the year, in line with the sector, has been challenging. We have seen supporters adjusting their donating habits as the cost of living rose, a number of trust and grant bodies shifting their focus to mental health, charities supportlng those struggling with rising costs, and donors still taking time to return to events after the pandemic. Retail & Trading The Retail and Trading team have been combining the best of both from the legacy charities to ensure smooth efficient operational processes are In pla￿ for shops to maximise the potential of the network of 32 shops. We had our flrst All Retsil Staff Conferen￿, and we have continued the very suc￿$Sful roll out of the "Rennie Grove Peace Revisiting" programme to refurbish shops, ensuring each shop meets its local community needs and reinforcing our environmental mantra, "Recare, Rewear, ReHome" The programme includes ReLoved Boutiques, Community Hub shops and Revalued Outlet shops, each allowing the Charity to maximise sales from each donation received. Retail & Trading team has been working very hard to move all shops onto one electronic point of sale system, A single system is critical for the management of sales and stock, as well as the very important HMRC gift ald claims. We also launched year of the successful Retall Academy, developlng financial management skills alongside visual merchandising training and people skill sets. The programme aims to inspire and support the development of shop managers. People & Culture Our staff and volunteer colleagues provide the skills, expertise, and passion for delivering or contributing to the setvices we provide for our patients and their carers. There has been much work conducted towards the merger in this year. Terms and Conditions (T&Cs) of RG and PHC were reviewed to recommend the T&Cs for Rennie Grove Peace employees. An external pensions specialist was commissioned to advise the Board of Trustees on the current pension provision of RG and PHC. These were undertaken with a view to meet Rennie Grove IOIPage RENNIE GROVE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 Peace's key priorities of recruitment and retention, to be an employer of choice and be able to deliver our services in a high quality manner. The employee and volunteer databases were reviewed to recommend the database to be used at Rennie Grove Peace. Policies, Pro￿dUres, and processes have begun to be developed based on the best of both charities. The Governance Committee will approve the pay framework for Rennie Grove pea￿ once this is developed. This Committee also approves pay and renumeration for the EB based on market recommendations from the Reward Consultant. Learning & Development The Learning and Development Team support strdff across the Workfor￿ and key achievements included., A projett to review e-learning to improve mandatory training pro￿SSeS and praCtI￿S while providing real-time management information for compliance m'onitoring and reporting. Responsive training courses to meet emerging clinical needs including Specialist Palliative Care Update (SPCU), Palliative Care Development Programme (PCPD), Zntermediate and AdVan￿d communication skills, IPU team support and development programme and clinical skills focussed sessions. Monthly ainical Induction days and several student placements. Work to begin to update the clinical competency framework. Non-clinical training, including sessions such as, self-care and res11ien￿ and communication skills. Delivery of a Care Home Education Programme and GP training. Our annual Clinical Conference. A Management Development Programme (MDP aimed at staff with line management responsibility to develop leadership and management skills and behaviours and which will now run annually). Volunteering Volunteers continue to support Rennie Grove Peace to deliver our services to more and more people and act as ambassadors in our community, spreading the word about the vital work that we do and the many ways in which people can support us. We now have a combined volunteering force of 1600 volunteers in more than 90 unique roles supporting every area of the charity. We are developing our community volunteering programmes and expanding our Compassionate Neighbours service into West Hertfordshire. We now have 37 Compassionate neighbours supporting community members in their own home or at our compassionate cafes and hubs. Our 34 Supporting Hands volunteers support our nurses with respites and provide prartlcal and emotional support to our patients. We are expanding this service into the Watford area and we will be continuing targeted recruitment campaigns for these volunteering roles and others, to ensure that volunteering at Rennie Grove Peace is familiar in the public domain, and we are seen as a great place to volunteer. 11 | PagJe RENNIE GROVE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 We have worked closely with the Retail & Trading team, to improve our volunteer onboarding processes in the shop5 and to support the ecommerce team in expanding their WOrtfor￿ to support improved sales. Marketing The main focus for the marketing team this year has been to strategically plan the visual identity, branding and audien￿ messaging to effectively communicate the merger of our two successful organisations into a new exciting chapter joining together as Rennie Grove Peace. This included combining our Imo separate teams into one department, strengthening internal skill sets and engaging with a wider support network of experts for specific merger tasks, such as public relations and digital marketing. We reviewed and relaunched our platforms to ensure a 'best of both, delivery of the merger requirements, across all our teams and marketing channels, with minimal disruption to day-to-day campaign delivery. We developed an extensive messaging framework and campaign calendar to bring together our audiences, focusing on sharing stories across both RG and PH that highlighted our exceptional people, positive patient experiences and invaluable local support. We combined the importance of our individual legacies with our merger objectives to seNe our communities with a wider range of services, reach more local people and strengthen our ability to secure more resources. Through a range of new look creative mad At 31 March 2023 1,150,000 Following a legacy notification received in May 2021, a propelty was transferred into Rennie Grove Hosplce Care ownership in July 2022. The estimated market value at the date ownership transferred to the Charity was £1,250,OCx). 13. INVESTMENTS Group 2023 Group 2022 Charity 2023 Charity 2022 Listed Investments Unlisted investments 3,499,975 258,807 3,683,362 258,807 3,499,975 258,809 3,683,362 258,809 3,758,782 3,942,169 3,758,784 3,942,171 Listed investments (Group only): Group 2023 Group 2022 Market valuation At l April 2022 Addition5 Disposals Gainslllosses) on Investments 3,683,362 2,537,391 997,095 (6,960) 155,836 (7910) (175,477) At 31 March 2023 3,499,975 3,683,362 Historical cost of Ilsted investments 3,369,718 3,280,207 Listed Investments: Nurse5 Cottage Trust has closed their charity and donated the proceeds to Rennie Grove in the form of 219,015 £1 shares In UK Government bonds and a small amount of cash. The remaining Investments are held in the Barclays Charity Investment Fund. 371Pagye RENNIE GROVE HOSPXCE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Unlisted investment$: At 31 March 2018 The Ialn Rennie Hospi￿ at Home and St Albans and Dacorum Day Hospice each owned 14 Shares of £1 nominal value each in The Hospice Lottery Partnership Limlted, a company reglstered in England and Wales carrying out fundralslng aciivity for 6 hospi￿. The investments were included in the financial statements at cost to the Group. On 16 Ortober 2018, HLP and all shareholders signed a new Shareholder agreement. The Iain Rennie Hospice at Home and St Albans and Dacorum Day Hospice shares were transferred to Rennie Grove Hospice Care on this date at cost. Each partlcipating hospice has a representative on The Hospi￿ Lottery Partnership board. During the year to 31 March 2023, the Hospice Lottery Partnership Limited made donatlons to Group companies totalling £400,000 (2022.. £402,000). As of 31 March 2023, £nil was due to the group from The Hospice Lottery Partnership {2022'. £nil). 14. STOCK Group 2023 Group 2022 Charity 2023 Charity 2022 Bought in gcK)ds for resale 85,373 77,842 15. DEBTORS Group 2023 Group 2022 Charity 2023 Charity 2022 Trade debtors Income tax recoverable Prepayments and accrued legacy income Other debtors Intercompany debtors 36,759 2,668,099 29,460 4,912,106 292 36,759 2,668,360 29,460 4,912,106 290 84,086 103,097 2,704,858 4,941,858 2,807,933 5,025,942 16. CREDITORS: amounts falling due wlthin one year Group 2023 Group 2022 Charity 2023 Charlty 2022 Trade creditors Taxation and Social securlty Pensions Accruals and deferred income other creditors 338,751 7,385 56,868 717,050 188,182 26,690 55,767 840,005 345,439 1,819 56,868 715,400 188,373 25,890 55,767 838,355 1,120,054 1,110,644 1,119,526 1,108,384 381Page RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Ac(ruals and deferred income include deferreAi income as folkJws.' Group & Charity 2023 Group & Charity 2022 At l April 2022 Amounts deferred in the year Amounts released In the year 475,282 434,285 491,675 475,282 {475,282) (434,285) At 31 March 2023 491,675 475,282 17. PENSION COMMITMENTS The Charity contributed to three penslon schemes during the year on behalf of its employee5. The NHS Pension Scheme The Pensions Trust Growth Plan The Standard Life defined contribution scheme Contributions to each scheme are charged to the Statement of Financial Artivitres as the employer's contributions fall due. The NHS Pension Scheme is an unfunded, defined benefit scheme that covers NHS employerS1 general praCtI￿S and other bodies allowed under the direction of the Secretary of State in England and Wales. As a consequence, it Is not possible for the Charity to identify its share of the assets and liabllities of the underlying scheme. NHS Resource Accounts are published on the NHS Penslons website annually and Include the retK)rt from the scheme artuary. 115,066 in contributions were outstanding at 31 March 2023 {2022'. £15,433). The Pensions Trust Growth Plan is a money purchase scheme with guaranteed benefits which is closed to new members. This is a multi-employer scheme and, as it is not possible to identify the Charity's share of underlying a55ets and liabilities, the scheme is accounted for as a defined contribution scheme and contributions are accounted for as they fall due. A ten year deficit reduction plan has been agreed, into which the Charity pays a sum of £44 per annum. The most re￿nt estlmate as at 30 September 2022 shows that a liablllty of £20,853 would arise if the Charity withdrew from the scheme. The￿ is no plan to leave the scheme therefore this liability has not been provided for in the financial statements. £1,578 in pension contributions were outstanding at 31 March 2023 (2022.. £1,406). The Standard Life scheme covers both the defined contribution arrangement and auto enrolment. The Standard Life defined contrlbution scheme had £Nil In pension contributions outstsnding at 31 March 2023 (2022.. £nil}. The Standard Life auto-enrolment scheme had £40,224 in ￿nSIon contributlons outstanding at 31 March 2023 (2022.. £38,927). 391Page ## **RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** |**18.**|**FUNDS 2023**|**At 1 April**|**Income**|**Expenditure**|**G/L and**|**At 31**| |---|---|---|---|---|---|---| |||**2022**|||**Transfers**|**March 2023**| |||**£**|**£**|**£**|**£**|**£**| ||**Group:**|||||| ||**Unrestricted funds**|||||| ||**General Reserve**|11,755,418|9,406,846|(9,029,582)|(1,875,250)|10,257,432| ||Acc. profit of subsidiaries|57,835|210,271|(209,384)|-|58,722| ||**Designated Funds**|||||| ||Investment Property Fund|-|-|-|1,150,000|1,150,000| ||Designated fixed asset Fund|89,743|-|(56,932)|148,950|181,761| ||Building Refurbishment|300,000|-|-|(300,000)|-| ||Digital Transformation|500,000|-|-|(500,000)|-| ||Capital Programme Fund|-|-|-|500,000|500,000| ||Merger Implementation Fund|-|-|-|106,000|106,000| ||Strategic Initiatives Fund|-|-|-|250,000|250,000| |||---------------|------------------|--------------------|------------------|-------------------| |||12,702,997|9,617,117|(9,295,899)|(520,300)|12,503,915| ||**Restricted funds**|||||| ||Property Fund|2,458,148|-|(33,915)|-|2,424,233| ||Pepper Foundation/NHS|-|425,826|(425,826)|-|-| ||Nurses Cottage Trust|272,898|9,308|(9,308)|(39,223)|233,675| ||Hospice UK/NHS Eng grants||||285,150|285,150| ||Other restricted funds|62,646|182,400|(175,551)|-|69,495| |||--------------------|-----------------|--------------------|-----------------|--------------------| |||2,793,692|617,534|(644,599)|245,927|3,012,554| |||--------------------|-------------------|--------------------|-----------------|--------------------| ||**Total funds**|15,496,690|10,234,652|(9,940,498)|(274,373)|15,516,470| |||=======|=======|========|=======|========| ||**Charity:**|||||| ||**Unrestricted funds**|||||| ||**General Reserve**|11,750,645|9,510,958|(9,133,693)|(1,875,250)|10,252,657| ||**Designated Funds**|||||| ||Investment Property Fund|-|-||1,150,000|1,150,000| ||Designated fixed asset Fund|89,743|-|(56,932)|148,950|181,761| ||Building Refurbishment|300,000|-|-|(300,000)|-| ||Digital Transformation|500,000|-||(500,000)|-| ||Capital Programme Fund|-|-|-|500,000|500,000| ||Merger Implementation Fund|-|-|-|106,000|106,000| ||Strategic Initiatives Fund|-|-|-|250,000|250,000| |||-------------------|------------------|---------------------|------------------|-------------------| |||12,640,388|9,510,958|(9,190,624)|(520,300)|12,440,418| ||**Restricted funds**|||||| ||Pepper Foundation/NHS|-|425,826|(425,826)|-|-| ||Property Fund|1,924,028|-|(27,324)|-|1,896,704| ||Nurses Cottage Fund|272,898|9,308|(9,308)|(39,223)|233,675| ||Other restricted funds|62,646|182,400|(175,550)|285,150|354,646| |||------------------|-----------------|--------------------|-----------------|------------------| |||2,259,573|617,534|(638,008)|245,927|2,485,025| |||------------------|--------------------|--------------------|-----------------|------------------| ||**Total funds**|14,899,961|10,128,492|(9,828,633)|(274,373)|14,925,443| |||========|========|========|=======|========| **40|** P a g e ## **RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **FUNDS 2022 – PRIOR YEAR COMPARATIVES** |**18.**|**FUNDS 2022**||||**Gains,**|| |---|---|---|---|---|---|---| ||||||**Losses**|| |||**At 1 April**|||**and**|**At 31**| |||**2021**|**Income**|**Expenditure**|**Transfers**|**March 2022**| |||**£**|**£**|**£**|**£**|**£**| ||**Group:**|||||| ||**Unrestricted funds**|||||| ||**General Reserve**|8,481,531|11,340,134|(7,445,238)|(621,011)|11,755,416| ||Acc. profit of subsidiaries|57,640|199,285|(199,090)|-|57,835| ||**Designated Funds**|||||| ||Designated fixed asset fund|150,101|-|(60,358)||89,743| ||Building Refurbishment|-|-|-|300,000|300,000| ||Digital Transformation|-|-|-|500,000|500,000| |||8,689,272|11,539,419|(7,704,686)|178,989|12,702,994| ||**Restricted funds**|||||| ||Property Fund|2,492,062|-|(33,915)|-|2,458,147| ||Pepper Foundation/NHS|-|385,929|(385,929)|-|-| ||COVID grant funding through|-|985,516|(985,516)|-|-| ||Hospice UK|||||| ||Nurses Cottage Trust|294,798|9,308|(9,308)|(21,900)|272,898| ||Other restricted funds|155,655|143,589|(236,595)|-|62,649| |||--------------------|-----------------|--------------------|-----------------|--------------------| |||2,942,515|1,524,342|(1,651,263)|(21,900)|2,793,694| |||--------------------|-------------------|--------------------|-----------------|--------------------| ||**Total funds**|11,631,786|13,063,760|(9,355,949)|157,089|15,496,688| |||========|========|========|=======|========| ||**Charity:**|||||| ||**Unrestricted funds**|||||| ||**General Reserve**|8,476,762|11,427,835|(7,532,941)|(621,011)|11,750,645| ||**Designated Funds**|||||| ||Designated fixed asset fund|150,101|-|(60,358)|-|89,743| ||Building Refurbishment|-|-|-|300,000|300,000| ||Digital Transformation|-|-|-|500,000|500,000| |||--------------|-------------|----------------|-------------|---------------| |||8,626,862|11,427,835|(7,593,299)|178,989|12,640,388| ||**Restricted funds**|||||| ||Pepper Foundation|-|385,929|(385,929)|-|-| ||COVID grant funding through|-|985,516|(985,516)|-|-| ||Hospice UK|||||| ||Property fund|1,951,351|-|(27,324)|-|1,924,028| ||Nurses Cottage Fund|294,799|9,308|(9,308)|(21,900)|272,898| ||Other restricted funds|155,653|143,589|(236,596)|-|62,646| |||------------------|-----------------|--------------------|-----------------|------------------| |||2,401,804|1,524,342|(1,644,672)|(21,900)|2,259,573| |||------------------|--------------------|--------------------|-----------------|------------------| ||**Total funds**|11,028,666|12,952,177|(9,237,971)|157,089|14,899,961| |||=======|=======|========|=======|========| **41 |** P a g e ## **RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **18. FUNDS (continued)** ## **RESTRICTED FUNDS** ## **Property Fund** The property fund represents the net book value of Gillian King House, a freehold property purchased through a gift from a trust in November 2002 to accommodate the nursing and support teams operating in the South Bucks area, and the Grove House premises, which is a leasehold property, subject to a lease from the Department of Health for 99 years from 1991. The construction and subsequent extensions of the premises have been financed mainly from grants and donations made for these specific purposes. ## **The Pepper Foundation/NHS** The Pepper Foundation and Department of Health funds are received towards the salaries and expenses of the paediatric Hospice at Home team and the family support services. ## **Nurses Cottage Fund** In May 2018, Rennie Grove Hospice Care received a donation from The Nurses Cottage Fund consisting of Treasury Stock and Cash totalling £241,614. The trustees have approved the expenditure of cash and earned interest on clinical care in the Great Missenden and Prestwood areas. ## **Hospice UK/NHS England Grant** Grants received for collaboration and data analytics projects. ## **Other Restricted Funds** Other restricted funds consist of smaller grants and donations given for specific purposes or projects. ## **DESIGNATED FUNDS** In conjunction with the Trustees of Rennie Grove Peace, the Trustees have designated certain unrestricted funds to known and expected projects which are expected to be carried out over the short and medium terms and which are considered essential to ensure the successful delivery of the Group’s strategies. During the year, the Trustees have carried out a review of the designated unrestricted funds to ensure these are aligned with Rennie Grove Peace’s plans and these plans are adequately but not excessively funded. The following designated unrestricted funds are held by RG at 31 March 2023: - **The Fixed Asset Fund** represents the net book value of fixed assets other than property. - **Investment Property fund £1,150,000** Finances a donated property held for its capital appreciation and rental stream and not used in the day-to-day operations of Rennie Grove. - **Capital Programmes Fund £500,000.** Capital projects identified for the strategic planning period. - **Merger Implementation Fund £106,000** Representing key projects necessary to successfully implement the merger. - **Strategic Initiatives Fund £250,000** Initiatives identified by the EB, and supported by the Trustees, to support our clinical and operational plans as we progress the Charity’s strategy. ## **TRANSFERS** During the year £285,150 (2022: £nil) was transferred from General Reserves to restricted funds. Following a review, £168,600 of grants from Hospice UK and £116,600 from NHS England were moved from unrestricted to restricted funds. **42 |** P a g e ## **RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** |**19.**|**ANALYSIS OF NET ASSETS BY FUNDS (2023)**|**Unrestricted**|**Restricted**|| |---|---|---|---|---| |||**funds**|**funds**|**Total**| |||**£**|**£**|**£**| ||**Group:**|||| ||Tangible fixed assets|181,761|2,424,234|2,605,996| ||Investment property|1,150,000|-|1,150,000| ||Investments|3,525,108|233,675|3,758,783| ||Other net assets|7,647,046|354,645|8,001,691| |||-----------------|---------------|---------------| ||**Total net assets**|12,503,915|3,012,555|15,516,470| |||========|=======|========| ||**Charity:**|||| ||Tangible fixed assets|181,761|1,896,705|2,078,466| ||Investment property|1,150,000|-|1,150,000| ||Investments|3,525,108|233,675|3,758,785| ||Other net assets|7,583,549|354,645|7,938,194| |||----------------|---------------|---------------| ||**Total net assets**|12,440,418|2,485,025|14,925,443| |||========|=======|========| |**19.**|**ANALYSIS OF NET ASSETS BY FUNDS (2022)**|**Unrestricted**|**Restricted**|| |||**funds**|**funds**|**Total**| |||**£**|**£**|**£**| ||**Group:**|||| ||Tangible fixed assets|89,743|2,458,149|2,547,892| ||Investments|3,669,271|272,898|3,942,169| ||Other net assets|8,943,980|62,647|9,006,627| |||-----------------|---------------|---------------| ||**Total net assets**|12,702,994|2,793,694|15,496,688| |||========|=======|========| ||**Charity:**|||| ||Intangible fixed assets|||| ||Tangible fixed assets|89,743|1,924,028|2,013,771| ||Investments|3,669,273|272,898|3,942,171| ||Other net assets|8,881,372|62,647|8,944,019| |||-----------------|---------------|---------------| ||**Total net assets**|12,640,388|2,259,573|14,899,961| |||========|=======|========| **43 |** P a g e RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 20. SUBSIDIARY COMPANIES The charitable company owns IOOO/o of the share capital of three subsidiaries, which are all incorporated In England and Wales. The results for the year to 31 March 2023 and the a55ets and liabilities at this date are induded within the consolidated financial statements. Income Expendlture Net funds St Albans and Dacorum Day Hospl Q>mpany number.. 2609260 (harity number.. 1003462 The lain Rennie Hosplce at Home Company number: 2199373 Charity number.. 297847 laln Rennie Hospi￿ Servlces Ltd. Company number.. 03068254 4,772 IirKI% own&Jl 6,591 527,529 IItXPkn owned) 210,272 105,274 58,724 (l(A)% ownEd} 21. RELATED PARTY TRANSAcfIoNS The charitable company has three subsidiaries, detailed in note 20 above. During the year laln Rennie Hosp1￿ Servi￿5 made donations to the charitable company of £87,702 (2022.. £33,854). At 31 March 2023 St Albans and Dacorum Day Hospice was due £Nil from the charitable company (2022: £Nil), The Iain Rennie Hospice at Home was due £Nil from the charltable company (2022., Nil) and Iain Rennie Hospice Services is due £104,997 to the charitsble company (2022.. £87,702). 22. FINANCIAL COMMITMENTS As at 31 March 2023 the Charity and Group were commltted to making the following payments under non- cancellable operating I￿seS. Land and buildings 2023 2022 Expiry date.. Within one year Between one and ￿0 years Be￿een two and five years In over five years 599,032 530,450 1,436,424 508,423 670,332 520,244 1,070,235 792,110 3,074,329 3,052,921 441Page RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 23. FINANCIAL INSTRUMENTS 2023 2022 GROUP: Financial assets at amort15ed cost Flnancial liabilities at amortised cost Financial assets at fair value Equity instrument at cost less impalrment 6,331,249 402,306 3,499,975 258,806 5,097,862 243,949 3,683,362 258,806 CHARITY: Financial assets at amortised cost Financial liabilities at amortised cost Financial asset at fair value Equity instrument at cost less Impalrment 6,249,523 297,309 3,499,975 258,808 5,026,752 156,438 3,683,362 258,808 24. NOTES TO THE CASHFLOW STATEMENT 2023 2022 Reconclllation of changes in resource$ to net cash inflow/(outflow) from operating activities Net income for reporting period Depreciation of tangible fixed assets Amortisation of intangible fixed assets {Gains)/Losse5 on investment property (Gains)/Losses on investments Interest r￿1Ved Dividends re￿IVed Reali5ed {Gains)/Loss (In¢￿ase}/Decrease in stock Decrease/(Increasel in debtors Increa5e/(Decreasel in creditors 19,780 90,846 3,834,900 94,272 ioo,o loo,000 175,477 {63,693) (9,317) (1,103) (7,531) 2,137,000 9,409 (155,835) (920) {9,347) (1,255) (26,842) (1,959,883) 47,440 Cash generated by operating activities 2,450,869 1,922,530 451 P(Ige RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 25. COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTivmES (2022): Unrestricted Funds Restricted Funds Total 2022 Notes INCOME. Donatlons and legacies Charitable actlvitie$ NHS funding Rapid Personali5ed Care Other income from charitable activities other trnding activities Events & communlty Retail income Xnterest receivable other Hospice Lottery Partnership Other income 5,674,489 126,953 5,801,442 1,013,329 879,973 1,013,329 879,973 1,371,445 1,371,445 553,813 2,806,532 959 11,296 565,109 2,806,532 10,267 9,308 402,000 208,325 402,000 213,665 5,340 Total income 11,539,419 1,524,342 13,063,760 EXPENDJTURE: Raising funds Donations and legacies Fundraising artivitie5 Charitable activitles Patient care Rapid Personalised Care 993,947 2,843,016 993,947 2,843,016 3,058,567 809,156 1,651,263 4,709,830 809,156 Total expenditure 7,704,686 1,651,263 9,355,949 Net gainsl(105ses) on investments 178,989 (21,900) 157,089 Net Incomel(expenditure) 4,013,722 (148,821) 3,864,900 Transfers between funds other recognised galnsl(losses) Net movement in funds Funds at 31 March 2021 4,013,722 8,689,272 (148,821) 2,942,515 3,864,900 11,631,788 Funds at 31 March 2022 12,702,994 2,793,694 15,496,688 461Pagc