RENNIE GROVE HOSPICE CARE TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Registered Company Nurnber: 7479930 Registered Charity Number: 1140386 CONTENTS Administrative Details Trustees, Report Independent Auditor's Report 23 statement of Financial Activities 27 Balance Sheet 28 statement of Cash Flows 29 Notes to the Financial Ststements 30 RENNIE GROVE HOSPICE CARE ADMINISTRATIVE DETAILS Charlty Name Rennie Grove Hospi￿ Care Charity Number 1140386 Company Number 7479930 Reglstered Office Grove Hou Waverley Road St Albans Hertfordshlre, AL3 5QX Trustee5 Dr J Shlndler {Ch8lrman) Mr C Inman OBE (Vlce Chalrman) Mr J Wroe (Treasurer) Mrs E Moralez-Perez Mrs E Colerbdge Smith Mr G Davis (Resign￿ 7 December 20231 Mr A Graham MBE Mr M Ferguson Mr S Hamill Mrs S Hill Mrs J Langfleld Ms J Morosco Mr R Russell-Hogg Dr A Wainwright Mrs E Moralez-Perez Company Secretsry Chief Executive Executive Board Mr DS Marks Mrs J Westlake-Tritton Dr Sarah Klinger Mrs P Pickersglll (ResSgned 30 Aprll 2024) Ms R Ahmad Mrs T Hancock Mrs D Gould Mrs E Thompson Auditors haysmacintyre LLP 10 Queen Street Pla London, EC4R IAG Bankers Barclays Bank plc cor￿rate Banking Suite 11 Bank Court Hemel Hempstead Hertfordshire HPI IBX Sherrards Solicitors 4 8eacon5field Road st Albans ALI 3RD Solicltors RENNIE GROVE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REPORT The Board of Trustees presents its Annual Report and Financial Statements for the year ended 31 March 2024 which comply with the requirements of the Companies Act2006, The Charities Statement of Recommended Practi￿ (SORP) and the Charities Act 2011. The Trustees, Report incorporates the requirements of the Strategic Report as required by the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013. In thi5 Trustees, Report,￿he Group" refers to Rennie Grove pea￿ Hospice Care (Rennie Grove Pea￿) and its subsidiaries, RG Group" is Rennie Grove H05pice Care (RG) and its subsidiaries 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 Hospi￿ Care (RG) and Peace Hospice Care (PH) announced their intention to merge the two organisations into one new charity, called Rennie Grove Peace Hospice 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 pea￿ 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 pea￿ 15 a member owned charity, and its sole members are its Trustees. The Trustees of Rennie Grove Peace have determined that most of the activities previously carried out by RG and PH, will be transferred to Rennie Grove Peace. This process has commenced and continued in 2024 so that by 31 March 2024, a significant proportion of the income and expenditure of the Group resides in Rennle Grove Peace. Certain assets remain in RG or PH. The Group provides palliative, end-of-life advi￿, support, education and a wide range of services to those people who are registered with a West Herts or Buckinghamshire GP practice. The Group is a specialist palliative care provider whose 5etvices are deltvered by a multi-disciplinary team of Nurses, Doctors, Allied Health Professionals, therapists, support staff and volunteers who will ensure the right seNice 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 force behind the merger of RG and PH Is the goal to increase both the reach and scope of SeNiC￿ provided by the two legacy charities. This include5 high-quality care for those facing life- limiting illness, as well as bereavement counselling services ft)r anyone affected by grief. The Group has three clear aims.. Serve - provide a wider range of Se￿I￿S 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 community and meet their changing needs RENNIE GROVE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 strengthen - use our strengthened combined voice to Secure the resour￿ needed to ensure every local person receives the care they need, when they need it 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 charitsble activity undertaken by RG. The focus of Rennie Grove is to ensure that patients living 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 seTvices in line with the alm of the National End of Llfe Care Strategy (2008) to provKie Servi￿ 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 Govemment Response to the Review of chol￿ in End-of-Life Care (2016),. In addition, RG is committed to Ambitions forPalliative and End of Life Care.. A national framework ftjr 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 attton betrNeen organisations at a local level throughout England" GOVERNANCE The sole member of RG is Rennie Grove Pea￿. Following the establishment of the Group, the governance arrangements of the Charity were incorporated into the governan￿ 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 practice against which Charities may compare themselves and identify areas of strength and for potential improvement. The Code indude5 seven principles which the Board 0fTruSt￿ of Rennie Grove Peace has considered in its aim to ensure continued strong governance of the Group. Organisationalpurpose The Board of Trustees of Rennie Grove Peace maintains the vislon and mission of the Group. It approves the strategyi 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 carrying out a self-assessment of Board governance and a review of the effectiveness of the Board commiitee structure. RENNIE GROVE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 leadership The Board maintains responsibility frir ensuring the strategy of Rennie Grove Pea￿ is established and followed. The PA)ard has a wide range of clinical and non-clinicèl abilities and experience from a variety of backgrounds. By meeting regularly with management and clinical staff, the Group Board ensures that leadership and manageynent are integrated for the good of Rennie Grove Peace. Integrity The culture of the Board supports independent and challenging thought accompanied by a supportive ethos. Procedures are in place ta prevent conflicts of interest and to ensure the Board is independent in its decision making. Decision Maklngi Riskand Control 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 Peace 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. Importance is placed on effective risk management and considerable progre￿ has been made in the year in establishing risk management processes. Bo3rdEffectiveness The Chair carried out governan￿ reviews supported by the Governan￿ Committee to ensure the process for the recruitment, appointment and retirement of the Board members is effective. This includes periodic one-to-ones be￿een the Chair and individual trustees. An induction proce55 for new trustee5 is in place. Trustees undertake a statutory learning programme, and the Chair agrees other training direcdy with individual Trustees. Equality, Diversity & Inclusion The Board recognises that a variety of perspectives, backgrounds and skills Is essential for good governan￿. These matters are considered as part of the process for nominating new Trustees. Openness andAccountability The Board places great importance in ensuring that the Group'5 seNices, 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 Chlef Executive. We actively seek feedback on all clinical activities. RG Group Structure RG 15 part of the Rennie Grove pea￿ Group following the merger of RG and PH. RG has a 33¥0 shareholding in The Hospice Lottery Partnership Limlted, a company which operates a lottery to raise funds for RG and the other partners. The Trustees of Rennie Grove Peace and RG are volunteers from the IcKal community who bring a range of expert skllls 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 seNices are effective, as well as overseeing efficient financial stewardship and the financial planning of the charity. The Group Board of Trustees have agreed delegation of its powers through the Chief Executive ICE) and five Committees of the Board of Rennie Grove Pea￿ which are described below.. RENNIE GROVE YOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Governance Committee The purpose of the G0Veman￿ Committee is to oversee the governance arrangements of the Group and make recommendations to the Board. In particular, the Committee- Reviews the size and composition 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 apwintment of the Chief Executive. Oversees the remuneration paid to the Chief Executive and the Executive Board members and the overall remuneration framework for the Charity's employees. Clinical Governance Committee The purpose of the Committee is to advise the Board in relation to the Group's development of the ainical Strategy and the delivery of the underpinning annual patient Servi￿5 work plan and agreed Key Performance Indicators (KPIS). In particular, the Committee: Horizon scans to identify opportunities to maximise patient services growth and future se￿ICe developments which are responsive in reaching more people and reflett our locality needs. Receives assuran￿ that there are effective clinical quality assurance and clinical governan control system5 established and maintained across the organisation, demonstrable outcomes and measurable impact. Provides assurance to the Board that the clinical seNices are continuously striving to improve care, while remaining compliant with all legislative and regulatory requirements and with consideration of the organisation wide sustainability and digital transformation strategies. Identifies and defines the ac￿pted risk levels arising from the Group's cllnical operations and any increase in aclivity and innovation risks to the Board. Development Operations & Performance Committee The purpose of the Committee is to provide assurance to the Board on the development, operations and performance of the Group's strategic ambitions and annual operational plan, highlighting new operational risks which may arise out of the development of the plan for the directorates that report to this committee, and monitor.. Financial and operational performance and risk The overall integrity of the Group's internal financial and operational reporttng The Group's operational controls. Recommendations for developments involving tangible fixed assets. Risk and Audit Committee The purpose of the Committee is to provide assuran￿ to the Board that the Charity's responsibilitie5 regarding financial legislation and regulations are met. It reviews overall risk anagement assessments, controls and mitigations processes and continuous quality improvement. This include5: Reviewingi on behalf of the Board, the integrity of external financial reporting Overseeing the relationship with the external auditor Monitoring quality and assurance improvement systems and Complian￿ with extemal regulations Reviewing risk management systems and key risks RENNIE GROVE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Investment Committee The purpose of the Committee Is to monitor the flnancial resources and liabilities of the Group. Thls Includes monitoring internal financial controls relating to cash, marketable investments, financial liabilities, and other liquid resources of the Group, considering the Board's attitude to financial risk and the financial sustainability of the Group. It also includes monitoring the performan￿ of banking counterparties and investments advisors. The Rennie Grove Pea￿ 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. Certain matters are reserved for the Board and members of the Executive Board (EB) are invlted to attend Board and Board Committee meetings as appropriate. Executive Board The Rennie Grove pea￿ EB is led by the Chief Executive (CE) who is appolnted byi and a￿Untable to, the Trustees. The EB has responsibility for the day-to-day management of the Charity, ensuring it nttions within the law in accordan￿ with Charity Commisgon regulations, Care Quality Commission standards, Scheme of Delegation Policy and other relevant regulations. The EB o)nsists of CE, (hief ainical Offi￿, Medical Direttor, Direttor of Development, Operations & Performan￿, Directr of peop￿ & Culture, Director of Marketing, Director of Fundraising, arKi Direttor of Retail &TradiThJ. CLINICAL ACTIVITIES The Group's clinical services offer support to a population of just over one million. In the area of 601 square miles in which we work, there are 81 General Prattices, and we provide services to anyone registered within those practices. From a health and social care perspective, we are commissioned by two Integrated Care Boards (ICB5)'. Herts & West Essex (HWE) and Buckinghamshire, Oxfordshire & Berkshire West (BOB). Rennie Grove pea￿ clinical seNices operate from four bases: Peace Hospice, Peace Drive, Watford. WD17 3PH. seNi￿s provided from pea￿ Hospi￿ are.. Inpatient Services Coordination Centre South West Herts Hospke at Home seNi￿s Rapid Personalised ca￿ Servi Outpatients & Supportive Care servI￿s Bereavement & Wellbeing SeNices Rehabilitation servI￿s across all areas Rennie House, Tring Industrial Estate, Icknield Wayi Tring, HP23 4JX. SeNices provided from Rennie House are.. North West Herts Hospi￿ at Home Servi￿$ Buckinghamshire Hospice at Home Services RENNIE GROVE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Rapid Personalised Care Service Children & Young Person's Services Supportive Care & Wellbeing seNi Gillian King House, Hodgemoor View, Chalfont st Giles, HP8 4LS. S8vi￿ provided from Gillian King House are.. Buckinghamshire Hosp1￿ at Home SeNlces Grove House, Waverley Road, St Albans, AL3 5QX, SeNices provided from Grove House are: Clinical Leadership Base North West Herts Hospi￿ at Home Servi￿5 Outpatients & Supportive Care Servi￿5 Bereavement & Wellbeing setvices Children & Young Person's Services Rehabilitation Services across all areas Catchment area sr ALMAKS )rtC?RIJM THREE Key SOUTY IIJCXIWfjHAMStrIIRE Pe&ce HoSW(* ftennleHous GlIll￿ KlngHo GroveHou5e Bainbridge House RENNXE GROVE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Inpatientservi Inpatient services are provlded from the Inpatient Unit IIPU) which is a 12-bedded, short stay ward providing high quality, specialist palliative care which includes symptom control, rehabilitation, and end of life care for individuals whose symptoms cannot be controlled at home. The team delivers holistic care for patients and their familie5 including physical, emotional, spiritual, and practical support for those living with a progressive life-limiting illness. Outpatient & Supportive Care Services These services provide a range of holistic nursing, rehabilitation and therapies and Social Worker SUPPK)rt services from two-day seNices centres based at Peace Hospi￿ and Grove House and nclude dedicated nurse-led outpatient clinics. The multi-disciplinary services include a very wide range of rehabilitation interventions and support, wellbeing and creative art5 inteNentions, and self- management. To achieve our aims, to widen aC￿sS and ensure the right team is supporting the right people, we offer three tiers of outpatients and rehabilitation support (universal, targeted and speciali5ed) which change over time to meet the specific needs of each patient. Many of these SeNi￿S are planned to outreach into our local communities as part of our Compassionate Community hub programme at community hubs. The therapy teams also provide thelr expertise and serv1￿5 Wlthin the IPU and our Community Adult and Children services. Bereavement & Wellbeing Servlces A range of bereavement, SUPPOrtive and wellbeing services are available for the families and those who care for patients with a progressive life-limiting illness or are bereaved. Our complementary therapy team Dffers a WKie range of treatments to patients and those who care for them. These include acupuncture, reflexology, scar therapys massage and Reiki as well a5 offering group relaxation ftjcU￿d sessions, Our Bereavement, Listening & Talking Therapies provision consists of three counselling teams, and all our counselling is provided free of charge. Student bereavement counsellors, British A￿oCiation for Counselling & Psychotherapy (BACP) registered volunteer counsellors and Improving Access to Psychological Therapies (IAwf) counsellors. Sessions are provided through virtual technology, individual and group sessions. By focusing on quality of life both for patlents and those who care for them, as well as our bereaved clients, we can help them make every moment together matter. We offer the opportunity to ac￿55 a range of different interactions to reflect on their experiences in a safe and confidential manner. Hospice at Home Ser￿ces The Rennie Grove Peace Hospice at Home service provides 2417 care for patients who wish to remain at home or in their care home. Care is tailored as needed. There are 3 locality teams.. Buckinghamshire, North West Herts and South West Herts. Our model of care is delivered by a multi-disciplinary team who can provide planned ongoing support and symptom management and unplanned responsive intensive inteNention for those patients whose condition becomes unstable or when in the last weeks of life. We support the facilitation of hospital discharge and prevention of unwanted hospital admissions in line with patients, wishes. A plan of care is agreed with the patient, or family as needed, to ensure cornfort and care is maximised. 91 P e RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 I. ACCOUNTING POLICIES (CONTINUED) Irrecoverable VAT is charged as a cost against the activity for whlch the expenditure was incurred. Operating leases Rental charge5 are re(wnised over the period of whlch the lease payment fa115 due. Taxation The Charity is considered to pass the tests set out In paragraph I Schedule 6 of the Finance Art 2010 and therefore it meets the definI￿on of a charitsble company for UK corporation tax purposes. Accordingly, the Charity is Potentially exempt from taxation In ￿SpeCt of income or capital gains recelved within categories covered by Chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of the Chargeable Gain5 Act 1992, to the extent that such income or gain5 are applied exclusively tr) charitable purposes. Tanglble Fixed assets Tangible Fixed assets are stated at cost or deemed cost (donated valuatlon at estimated fair value} le55 accumulated depreaation arKi impaimient losse5. Assets costing tFiore than £10,000 are capitalised. Depreclatlon is calculated to write off the costs of the fixed asset by equal instalments as follows, all stralght line.. Freehold land Freehold bulldings Car park Leasehold property Leasehold improvements Motor vehides Fixture5 and fittings Tools and equipment 00 over 50 years from the date of first use over 10 years from the date of first Use over the term of the lease over the term of the lease 25% - 33% straight line 20% straight line 25% 33% straight line Investment Property Investment propety is freehold buiklings whlch are not expected to be used In the operation5 of the Charity or its sub5idlaries. Typically, they are held for value appreciatlon or to provide a rental Income. Investment properties are shown at market value at the balan￿ sheet date. Investments Investments are a form of basic financlal Instrument and are Initially shown in the financial statements at market value. Movements in the market values of Investments are shown as unrealised gains and losses in the Statement of Financlal Activities. Profits and losses on the sale of investments are shown as reallsed gains and105se5 in the Statement of Financial Activitie5. Realised gains and losses on investments are rdlculated as the difference between sales proceeds and thelr opening carry5ng valLJes or thelr purchase value if acquired subsequent to the first day of the finanaal year. Unreolised gain5 and losses are calculated as the difference between the fair value at year end and their opening carrying value. Reallsed and unrealised investment gain5 and I(Is5es are combined In the Statement of Financial Actiwtles. 321 Ptig)¢ RENNXE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 I. ACCOUNTING POLXCIES (CONTINUED) Financial instruments The Charity only has financial assets and finandal liabilities of a kind that qualify as basic finanoal Instruments. Basic financial instruments are initially recognised at tran￿CtIOn value and subsequendy measured at their setNement value with the exception of bank loans whl(h are 5ubsequenUy measured at amortised cost using the effettive interest rate rnethod. stock Bought in stock is valued at the lower of cost and net realisable value. Net realisable value15 based upon e5bmated selling Pri￿ less further costs expetted to be incurred to completion and disposal. A provision Is made for obsolete and slow-moving item5. The Trustees have conduded and agreed that the valuing of shops donated gcods for resale on recelpt is impractical due tr) the high volume of low value items, lack of stock systerll for recording these items and the administratlve cost involved. Instead, the Income is reccMJni5ed in the accounts when these goods are sold. Debtors Trade and other debt¢)rs are recognlsed at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade dlscounts due. Cash at bank and in hand sh at bank and cash in hand indudes (Ash and short term highly Ilquid investments. Creditors and provisions Creditor5 and prov15ions are recognised where the Charity has a present obllgation resultlng from a past event that will probably result in the transfer of fund5 to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provi5ion5 are normally recognlsed at their Settlement amount after allowing for any trade discounts due. Funds The General reserve comprlses the accumulated surplu5e5 of unrestricted incomlng resources over resour￿5 expendEYJ, which afft available for use in fvrtheranTr of the general objective of the Charity at the discretion of the Trustees. CapSts1 expenditure 15 reflected as a transfer from the General ￿SerVe to the Fixed asset fund. Designated funds are unrestricted funds earmarked by the Trustees fc* spending on new trY)5pice projects. Restricted funds are funds subjert to specific conditions Imposed by donors. The purposes and uses of the principal restricted funds are set out in the notes to the actt)unts. Amount5 Ljnspent at the year-end are carried forward In the balance sheet. Employee benefits Short term benefits including holiday pay are recognised as an expense in the peritKI in which the Servi Ls received. Termlnation benefits are accounted for on an accrual ba515 in Ilne with FRS 102. RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 I. ACCOUNTING POLICIES (CONTINUED) Pension $cheme During the year, the Charity has contributed to a defined contribution pension scheme. It has also contributed to the NHS penslon scheme and to a money purchase scheme with guaranteed benefits. Charges are made to the Statement of Flnancial Artivities as contributions fall due. More details are given in note 17. Estimates and Judgements Estimates and judgements are contlnually evaluated and are ba*d on historical experience and other factors, including expectations of future event5 that are believed to be reasonable under the drcvmstances. Although these estimates are based on management's best knowledge of the amount, events or actions, artual results ultimately differ from those estimates. There aren't any a￿a5 that the trustees consider to be significant jkjdgements or sour￿5 of estimation Un￿rtaInty. INCOME FROM DONATIONS AND LEGACIES (2024) Unrestricted funds £'ooo Restrlcted funds £'ooo 2024 Total £'ooo Legacie5 Donations Intercompany donaUons 397 1,041 663 397 1,294 663 253 Totsl donatlons and legacies 2,101 253 2,354 INCOME FROM DONATIONS AND LEGACIES (2023) Unrestricted funds £'ooo Restricted funds £'ooo 2023 Total £'ooo Legacles Donations Intercompany donations 1,304 1,740 105 1,304 1,918 105 178 Total donations and legacies 3,149 178 3,327 INCOME FROM CHARrrABLE A￿1VITIEs {2024) Unrestricted funds £'ooo Restricted funds £'ooo 2024 Total £'ooo NHS funding from ICBS Rapid Personalised Care Pepper Foundationl NHS England 1,089 1,375 1,089 1,375 386 386 Total charitable actlvltles 2,464 386 2,850 RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INCOME FROM CHARITABLE A￿IVITIEs (2023) Unrestrlcted funds £'ooo 1,051 1,152 Restrlcted funds £'ooo 2023 Total £'ooo 1,051 1,152 426 NHS funding from ICBS Rapid Personalised Care Service Pepper Foundationl NHS England 426 Total charitable actlvities 2,203 426 2,629 4. INCOME FROM OTHER TRADING ACTivrrIES {2024) Unrestricted funds £'ooo Restricted funds £'ooo 2024 Total £'ooo Events Retsil trading 286 2,148 287 2,148 Total other trading artivitles 2,434 2,435 INCOME FROM OTHER TRADING AcfIvITIES (2023) Unrestrlcted funds £'ooo Restrlcted funds £'ooo 2023 Total £'ooo Events Retail trading 536 3,000 540 3,000 Total other trading activities 3,536 3,540 OTHER INCOME (2024) Unrestricted funds £'ooo Restricted funds £'ooo 2024 Total £'ooo Hospi￿ Lottery Partnership other income 400 48 Totsl other income 448 448 OTHER INCOME (2023) Unrestrlcted funds £'aoo Restrlcted funds £'ooo 2023 Total £'ooo Hosp1￿ Lottery Partnership Other Income 400 159 400 159 Total other Income 559 559 351 Paiie RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 EXPENDITURE (2024) Dlrect staff Dlrect other Allocated costs costs SUPPOrt costs £'ooo £'ooo £'ooo 168 201 ioi 328 1,349 308 2024 Total £'ooo 470 1,985 Costs of raislng donations and legacies Costs of trading and fundraising Ralslng funds 496 1,550 409 2,455 Charitable actiwties 1,457 444 554 2,455 1,953 1.994 963 4,910 EXPENDITURE (2023) Direct staff costs £'ooo 652 1,282 Direct other Allocated costs SUPPOrt Costs £'o( £'ooo 237 158 1,471 382 2023 Total £'ooo 1,047 3,135 Costs of raising donatlons and legades Costs of tradirvJ and fundraisng Ralsing funds 1,934 1,708 540 4,182 Charitable attivitie5 4,332 626 689 5,647 6,266 2,334 1,229 9,829 Induded in the 2024 DireLt staff costs are agency staff costs of E274k {2023- £275k). Included the 2024 AllcKated siJPtxJrt Costs are Direct staff costs of £333k {2023- £842) of which £5k 12023.. Enil) relate5 tr) agency staff. ANALYSIS OF SUPPORT COSTS (2024) 2024 Total £'ooo ioi Management £'ooo Finance £'ooo 19 Resources Governance £'ooo É'ooo 55 22 Costs of ral%ng donation5 and legacies Q)sts of trading and fundraising (haritable activities 16 29 58 104 168 302 66 119 308 554 50 181 525 207 963 ANALYSIS OF SUPPORT COSTS (2023) 2023 Total £'ooo Management £'ooo Flnance £'ooo Resources Governance É'ooo £'ooo Costs of raising donations and gaaes Costs of tradlng and fundrnising Charftable artivities 23 57 L02 33 92 222 401 io 23 43 158 382 689 143 182 256 715 76 L,229 361 PJgie RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ANALYSIS OF SUPPORT COSTS (2024) GOVERNANCE COSTS INCLUDE 2024 £'ooo 2023 É'ooo Insuran Legal fees Professional fees Auditor's reMunera￿on. Audit work other *rvl 192 43 21 207 76 NET INCOME 2024 £'ooo 2023 £'ooo Net Income is stated after.. Auditors, rernuneration Audit services Other services Operatlng lease renta15 Land and bulldlngs Depreciailon 21 672 78 673 STAFF COSTS 2024 Number 2023 Number The average monthly number of employees of the Charity for the period of I April 2023 to 30 June 202312023.. for the year) was.. 168 166 Employment costs in re5pert of the staff for the period of l April to 30 June 2023 (2023., for the year) were: 2024 2023 £'ooo £'ooo Wages and salaries National insurance Pensions other employee related costs 1,592 137 108 170 5,612 534 361 326 2,007 6,833 AII RG employees and obligations relatbng to pension plans (with the eX￿ptIon of The Penslons Trust Growth Plan) were transferred to RGP effective l July 2023 in line with the Transfer of Undertakings (Protertion of Employment) Regulations 2006. Redundancy payments of £nil were made In 2024 {2023.' £5k). 371 P RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STAFF cosrs (CONTINUED) Due to the transfer of all employee5 to RGP effective l July 2024, no employee emoluments for the 3- month period of l April to 30 June 2023 were above £60,000 and therefore no employee numbers are included in the table below ft)r 2024. The number of employees whose emolLJments, exduding employer's pensbon contributlons and employer's national Insuran￿ contributions, were over £60,000 during 2023 was.. 2024 Number 2023 Number £60,001- £70,000 £70,001 to £80,000 £80,001 to £90,000 £90,001 to £lOO,000 £ioo,000 to £110,000 £120,001 to E130,000 In 2023, penslon contributions for the five employee5 noted above amounted to £29k. The totsl employee benefits of the key management personnel of the Charity for the period of l Aprll 2023 to 30 June 2023 (2023.. for the year) was £125k12023'. £573). 10. TRUSTEE REMUNEIiATION The TrLJStees did not re￿1ve any remuneration durlng the year {2023.' £nil). The Trustees were not reimbursed any travel costs during the year (2023: £nill. 11. TAXATION The Charity is exempt from corporation tax a5 all its income is charitable and Is applied for charitable purtK)ses. 12. TANGIBLE FIXED ASSETS Leasehold improve- Flxtures and Tools and ments rittings equipment É'ooo É'ooo £'ooo Land and buildings £'ooo Motor vehicles £'ooo Total £'ooo Cost At l April 2023 Additions Disposals Transfer 1,919 30L 232 85 3,005 30 21 30 21 At 31 March 2024 1,919 301 232 3,013 Depreciation At l April 2023 Charge for the year Retire Assets 22 27 263 232 362 33 48 io 927 78 At 31 March 2024 49 271 232 395 53 1,000 Net book value At 31 Marth 2024 1,870 30 103 io 2,OL3 At 31 March 2023 1,897 38 106 37 2,078 RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. INVESTMENT PROPERTY 2024 2023 £'ooo £'ooo Market valuatlon At l April Addition5 Disposals Gainsl(10sses) on revaluation 1,150 1,250 130) {ioo) At 31 Marth 1,120 1,150 Following a legacy notification received in May 2021, a propety was transferred into RG ownershlp In luly 2022. The estimated tnarket value at the date ownership transferred to the Charity was £1,250k. The value of the property was adjusted at eath year end based on a ft)mial apprai￿1 performed as of 31 March 2024 and 31 March 2023, respectively. 3911'agyL RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. INVESTMENTS 2024 £'ooo 2023 £'ooo sted investment5 Unlisted investments 226 259 3,500 259 3,759 Listed Investments: 2024 £'ooo 2023 £'ooo Market valuation At l April Additions Disposals Donation to RGP Gains/(losses) on investments 3,500 3,683 (io) (3,5361 272 (8) {175) At 31 March 226 3,500 Histori(31 cost of listed investments 219 3,370 Llsted investments: During 2024, £3,536k of medlum-term Investments held by RG in the Bardays Charity Investment Fijnd were donated to RGP. The balance In this fund at 31 March 2023 was £3,266k. In addition, RG owns 219,015 UK Government tnnds which were donated to RG by The Nurses Cottage Trust when thi5 charlty was closed. These bond5 are valued at £226k at 31 March 2024 (2023.. £234k). Unlisted investments: RG owns 28 sha￿S of £1 nominal value eath in The Hospice Lottery Partnershlp ￿rnited, a company r￿istered in England and Wales carrying out fundraisiro aclivlty. The investments are induded in the finanoal statements at cost. Each part1cipating hospice has a representative on The Hospice Lottery Partnership board. During the year tr) 31 Narch 2024, the Hospice Lottery Partnership Limited made donations to the Charity totalllng £400k (2023: £400kl- As of 31 Mard) 2024, £nll was due to the Charity from The Hospice Lottery Partnership {2023.' £nil). 401 Pcibe RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. DEBTORS 2024 £'ooo 2023 £'ooo Trade debtors Income tax recoverable P￿payMents and accrued legacy income Other debtors Intercompany debtors VAT 37 2,668 370 288 135 71 103 2,808 16. CREDITORS: amounts falling due within one year 2024 £'ooo 2023 £'ooo Trade creditors Taxation and social 5ecurlty Pensions Accruals and deferred income (see below) 230 345 57 716 223 455 1,120 AccnJa15 and deferred income include deferred Income as fdlow5.' 2024 £'ooo 2023 £'ooo At l April Amounts deferred in the year Amounts released In the year 492 43 (492) 475 492 14751 At 31 March 43 492 41 |Pa RENNJE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMEMrs FOR THE YEAR ENDED 31 MARCH 2024 17. PENSION COMMThMENTS During the year, RG contributed to three pen5K)n scheme5 on behalf of its eM￿oYees. The NHS Penson Scheme The Pen510ns Trust Growth Plan The Standard Life defined contribution scheme Contrlbutlons to each scheme are charged to the Ststement of Financlal Actiwtie5 as they alise. The NHS Pension Scheme Hosp1￿ staff who were memtrEr5 of the National Health SeNice Penslon Scheme are allowed to continLJe their membershlp while employed by the Charity. Contribution5 are made by both employee and employer. As this is a multi-employer scheme, it is not possible to identify any one institutlon's share of the underlying liabilities. The Scheme is therefore accounted for as a defined contribijtion scheme arKI contributions are accounted for as they fall due. The Scheme accounts can be viewed on the NHS Pension Agen0/ webste at www.nhsb5a.nhs.uk or obtained from The Stationery Office. The Charlty's current employer contribution rate was 14.38% of a total amount of 20.68% for which the remalning part 6.3% is met by the Department of Health. The rate is set on the advi￿ of the Government Actuary. The obligations under the NHS Pension Scheme were transferred to RGP In 2024 and therefore there are £nll contributions outstanding at 31 March 2024 (2023.. £15k). The Pensions Trust Growth Plan Several RG employees belong to a money purd)ase scheme with guaranteed benefits. Contributions are made by both employee and employer in accordance with the rules of the scheme. As this 15 a muSti-employer scheme, It Is not possible to identify any one institution's share of underlying assets and liabilities. The scheme is therefore accounted fcK as a defined contribution scheme and contritxjtions are accounted for as they fall due. A defiat was identified and a ten-year deficit reductlon plan has been agreed, into which the Charity pays a sum of EH per annum. The most recent estimate as at 30 September 2022 shows that a liability of £21k would arise if RG withdrew from the Plan {2023'. £21k). This liability has been provided for In the finanual statements. £2k in penslon contributions were outstanding at 31 March 202412023.. £2kl. The Standard Life Scheme For other RG staff, the Charity provldes a defined contribution scheme operated by Slandard Life. Contributions are made by tx)th employer and employee in accordan￿ with the rules of the scheme. The Standard ￿fe Scherne was transferred to RGP In 2024 and therefore there are £nil contributions outstanding at 31 March 2024 {2023'. £40k). 4211'dgJe RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. FUNDS (2024) At l April 2023 £'ooo Galns, losses and At31 transfers March 2024 £'ooo £'ooo Income Expendlture £'ooo £'ooo Unrestrirted funds General reserve 10,252 7,666 (18,307) 1,016 627 Designated funds Investment property fund Fixed asset fund Capitsl programme fund Merger itnplementation fund Strategic initiatives fund 1,150 182 500 106 250 {30) 14 (5001 1,120 145 {51) (106) {250) Total unrestricted funds 12,440 7,666 {18,4641 250 1,892 Restricted funds Property fund Pepper Foundation/NHS Nurses Cottage Fund The Shaw tharitsble Trust Hospice UK grants Other restricted funds 1,897 (27} (1811 {9) 1,870 205 226 197 386 234 (8) 197 285 69 (871 184) 57 42 Total restrlcted funds 2,485 649 {388) (8} 2,738 Total funds 14,925 8,315 (18,852) 242 4,630 43 | P L RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. FUNDS (2023) Gains, losses and At31 transfers March 2023 £'ooo £'ooo At l April 2022 £'ooo Income Expenditure £'ooo £'ooo Unrestricted funds General reserve 11,750 9,511 {9,134) (1,875) 10,252 Designated funds Investment property fund Flxed asset fund Building refurbishment Digital transfomi3tion Capital programme fund Merger Implementation fund Strategic initiatives fund 1,150 149 1300) (5001 500 106 250 1,150 182 90 300 500 1571 500 106 250 Total unrestricted funds 12,640 9,511 (9,1911 (520) 12,440 Restricted funds Property fund Pepper FoundationlNHS Nurses Cottage Fund Hospi￿ UK Grants Other restricted funds 1,924 (27) 1426) {91 L,897 426 273 (39) 285 234 285 69 63 L82 (176) Total restrlrted funds 2,260 617 1638) 246 2,485 Total funds 14,9)0 10,128 (9,829) {274) 14,925 DESIGNATED FUNDS In conjunction with the Trustee5 of RGP, the Trustee5 have designated ￿rtain unrestricted funds to known and expected projects whlth are experted to be carried out Dver the short and medium terms and whlch are considered essential to enS{J￿ the successful delivery of the Group's strategie5. During the year, the Trustees have carried out a review of the designated unrestricted funds to ensure these are aligned with RGP'S plans and these plans are adequately but not excessively funded. The following designated unrestrfcted funds are held by RG at 31 March 2024 and 2023: Investment property fund Flnances a donated property held for Its capital appreciation and rental stream and not used in the day-to-day operations of Rennie Grove. Fixed asset fund Represents the net btK)k value of fixed assets other than priyerty. Capital programme fund Capital projects identified for the strategic plannlng per1￿. Merger implementation fund Represented by key projects ne￿sSary to Suc￿sSfUlLY imklement the meroer. strategic initiatives fund Initiatives identified by the Executive Board, and SUp[￿rted by the Trustees, to 5UPPDrt clinical and operational plans to progress the Charity's strategy. 4411'dgiL RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. FUNDS {CONTINUED} RESTRIcfED FUNDS Restritted funds are subiert to speafic requirwnents defined by RG'S donors. Propeity Fund The Propety fund ￿preSentS the Grove House premises which is a leasehold propety subjett to a lease from the De￿rtment of Health for 99 years from 1991. The construction and subsequent exlensbns of the premises have been finall￿d mainly from grants and donation5 made for these specific purposes. Pepper FoundationlNHS The Pepper FoLJndation and Department of Health fund5 are received towards the Salaries and ex￿nge$ of the paedialric Hospitr at HThne team and the family supw)rt se￿￿$. Nurses Cottage Fund In May 2018, RG re￿iVed a donation from The Nurses Cottage Trust consisting of treasury stock aTh cash. The balance consists of the treasury stock whichts adjusted to market value at each year end. The Trustees have approved the use of any earn8J Interest on clinical care in the Great Missenden and Pre5tw￿d areas. The Shaw Charitable Trust This donah.on was made to enable the enhan￿ment of IT systems. Hospice UK Grants For collaboration and data anatyb'cs projetts. Other Restricted Funds Other restrlcted funds consist of smaller grants and donations given for sperific purposes or wojects. TRANSFERS During the year, £nll was transferred from the General reserve to Restricted funds {2023: £285k). The Capital programme fund of £500k and Strategic initiats'ves fund of £250k will now be spent by RGP and therefore have been undesignated in 2024 by RG and designated by RGP. RENNIE GROVE HOSPXCE CARE NOTES TO THE FINANCIAL STATEMEMrs FOR THE YEAR ENDED 31 MARCH 2024 19. ANALYSIS OF NET ASSETS BY FUNDS (2024) Unrestricted funds £'ooo Restricted funds £'ooo 2024 Total £'ooo Tarolble fixed a￿ts Investment proFety Investments other net as5et5 145 1,120 259 386 1,869 2,014 1,120 485 I,oii 226 643 Total net assets 1,892 2.738 4,630 ANALYSIS OF Nrr ASSETS BY FUNDS (2023) Unrestricted funds £'ooo RestrSrted funds £'ooo 2023 Total £'ooo Tangible fixed assets Investment property Invesiments Other nel a55ets 181 1,150 3,525 7,584 1,897 2,078 1,150 3,759 7,938 234 354 Totsl net assets 12,440 2,485 14,925 20. SUBSIDIARY UNDERTAKINGS RG owns 100% of the share capital of three sub5idiarie5, which are all Incorwrated in Engkind and Wales. The results for the year to 31 March 2024 and the assets and liaExllties at thls date are.. Income £'ooo Expenditure £'ooo Net funds £'ooo St Albans and Dacorum Day Hospi Company number.. 2609260 Clk4rity number.. 1003462 The lain Rennie Hospice at Home Company number.. 2199373 Charlty number.. 297847 lain Rennie Hospitt se￿1￿$ Ltd. Company nutnber.. 03068254 IIOD% owr*dl 30 (30) IIOO% owtEdl 33 (401 521 (100% owned) 212 (105) 59 21. RELATED PARTY TRANSAcfioNS RG ha5 three subsidiaries detailed in note 20 above. During the year, RG received cash donations of £30k (2023.. £nill from SA&D, E33k {2023'. £nil) from IRHH and £nil (2023.. £105kl from IRHS. RG also r￿1Ved cash donations of £600k (2023.. £nil) from PeaTr H05pice Care la group company). Durlng the year, E3.5 million (2023.. £nill of investments held by RG were donated to RGP. Cash of £10.5 mllllon (2023.. £nil) was also donated by RG to RGP. A5 at 31 March 2024, RGP owed £126k to RG12023: £nill,' SA&D owed £2k to RG {2023.' £3k owed from RG)- IRHH owed £7k to RG {2023'. £2kl,' and IRHS owed £nil to RG {2023.' £L04k). 46 | 1>12 L) e RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 22. FINANCIAL COMMITMENTS As at 31 March 2024 the Charity was committed tr) makir¥J the folk)wSng payments under rKjn-Izn￿IIab1e operats'ng lease5'. Land and buildlngs 2024 2023 £'ooo £'ooo Expiry date.. within one year Between one and yea Between tsvo and five years In over fwe years 660 561 1,108 915 599 531 1,436 508 3,244 3,074 23. ULTIMATE PARENT UNDERTAKING The ultimate holding company of RG is Rennie Grove pea￿ Hospice CarE. Group finanoal statements for Rennie Grove Pea￿ Hospice Care are available to the public from Companies House, Crown Way, Cardiff ￿ payment of the apwopriate fee. 24. NOTES TO THE CASHFLOW STATEMEMr 2024 £'ooo 2023 £'oDo Reconcillatlon of changes in resources to net cash inflowl(outflow) from operating activities Net income for the year Adjustments for.. Do￿a￿'On of investments to RGP Receipt of donated propety Dep￿cIatIon of tanglble fixed assets (Gainsl1losses on investment propety Unrealised {gain5)/losses on investments Interest re￿iVed Realised {gains)/losses on investments Ilncreaselldecrease in siod {Incre3se)/decrease in debtors Increa5e/(cÈcrea*) In creditors {10,295) 25 3,536 (1,250) 78 30 {48) (228) (225) loo 175 {731 1,942 {6641 2,218 12 Cash generated by operating actiMt*s (5,873) 1,290 RENNIE GROVE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 25. COMPARATIVE STATEMENT OF FINANCIAL AcfiviTIES (2023): Unrestricted Funds £'ooo Restricted Funds £'ooo Total 2023 £'ooo Notes INCOME: DonatiOll5 and legacies Charitable activities other trading acbvitie5 Other income Interest received 3,149 2,203 3,536 559 64 178 426 3,327 2,629 3,540 559 73 Total income 9,511 617 10,128 EXPENDITURE: Raising funds Charitable actlvitles 4,182 5,009 4,182 5,647 638 Total expenditure 9,191 638 9,829 Loss on investment property Net gainsl(lossesl on investments 12 {ioo) 1135) (loo} {174) (39) Net income/(loss) 85 (60) 25 Transfers between funds (285) 285 other recognised gainsl{losses} Net movement in fund$ FurKls at beginning of year 1200) 12,640 225 2,260 25 14,900 Funds at end of year 12,440 2,485 14,925