Charity reg18tratth number. 1153338 Sidmouth Hospice at Home Annual Report and Financial Statements for Ihg Year EThJed 30 June 2024 WESTCOTTS IhCCOUNTANTS & BUSIt4E5S ADVISSA$
Sidmouth Hosplce al Home Contents Icontinued) Referenc8 and Admlnistralive Details Truslees. Roport 2to7 Independent Auditors. Report 81011 Statèment of Financial ActMtie5 12 Balan Sheet 13 Cash Flow Ststement 14 Notes to the Financlal Statsments 15to27
Sidmouth Hosplce at Home Reference and Administrative Details Trusto•s Mr D A Hancock Cook. (Chairl Mr D H Lee. (Vice£hairl Mr P Cranch Mr K W Gillanders. (Treasurer} Ms C S Waldon Mr l Bartow Ms H A Nelson M5 R MacKinnon Mrs J P Webber Dr J E Coop (appointed 13 November 20231 Charity R•gistr•tlon Numbor 1153338 Principal Officg Churth Street Sidford Sidmoulh Devon EXI0 9RL AudltDr Vveslcotts (SWI LLP Chartered accountants & statutory auditor Timberly South Street Axminster Devon EX13 SAD Invèstmènt advisors Caz8nove Capital 1 Luiiduii Wall Pl¢lLe Lond EC2Y SAU Charles Stanley & Co Ltd Broadwalk House Soulh&rnhay Wgst Exeter Devon EX1 1ST Bankern Virgin Money 35 Regent Street London SW1Y4ND CAF Bank 25 Kings Hill Avenue Klngs Hill Kent ME19 4JQ Pag8 1
Sldmouth Hospice at Home Trustees. Report The trustees present the annual report together wilh the financial slalements and auditors, report of the charity for the year ended 30 June 2024. Objectivas and activities Objects and alms Our Missil Statement is.. Utilising our spgcialisl nutslng team. staff. and volunteers to deliver our Si(Imoulh Inlegraled M¢)del for Specialist Palllalive Care to those in the Sid Valley wth lrfe limiting illnesses, their carers and their families. This specialist seNice will provid8 our patients with the best POS5ible quality of life and allow them to remaln in their prefe¢d place of death. Public benelit In planning the activities for the year, the Trustees have kept in mind thè Charity Commission guidance on public benefit. The Charity has been established to provlde the benèfits of palllats.ve care lo the residents of Sidmouth and the surrounding dlslricts, all of Its advldes are focused on delivering care within th8 kJ¢al community. This care 15 made available to all membèrs of the public wilhin the Sid Vallèy. The Trustees ar& $81i8fied that these aims and objectives demonstrate the Charills adherence wlth the public benefit framework. The trust88s confirm that ihey have complied wth the requirements of sectson 17 of th8 Ch8ri1ies Act 2011 to have due regard to the public benefit guidance published by the Charfty Commisson for England and Wales. All Twslees, including Ch8imian, Vic&Ch2imian and Treasurer. are volunteèrs who give their time freely to the Charity lo assist in the administration function, staff relations and Complian work. The Charity also has the services of volunteers who are directed by the Support Servicè CcM)rdinalors to provide requir6d support to the palionts and carers Idrivers. sitters, befrienders, bereavementi. Payment for vehicle expenses and subsistence expenses only are made to these volunteers in this respect. Flnanclal revlew The financial statements and the accounting policies used in their preparation comply with all of the Current statutory requirements and wrth Ihe goveming document. The Statement of Financial Activities shows the charty had total income of £1,198,798 12023.. £1,136,716) and total expenditure of £869,810 12023.. £754.7671 during the period. Income exceeded Expenditure lincluding nursing salaries and clinical costs) in th8 perij by £328.988 and there was an increase in the valuation of listed investments of £149,608. Page 2
Sldmouth Hospice at Home Trustees. Report (continued) Achlevements and rtOrniance Kay achievements are outlined below. Thls has been a very successful year in temis of further implementstion of th8 Sidmoulh Inlegrdted Model for Speciallsl Palll8tive Care ISIMSPC). which is re[VIng national recogn¢tion as being a model of excellence. We have also continuerl the d8velopment of the stste-the•art HQ at Sidford, and thg Infomiatlon Hub in the town centre. san Operational Dgllvery This year marked the third full calendar year of operating the Sidmouth Intsgrat8d Model for Spec4alist Palliative Car8. At the heart of this mcKlel is a Specialist Palliative Nursing T8am that is available 2417 and provides wnlinuily of care for all palliative p8ti8nts and their families, Including- specialist Symptom control for pationts with 1x)mpX needs,. hospi at home nursing care to enable more patients to remain in their own homes and prevent unnecessary hospttal admisslons,. psychologlcal and emotional support for all patients and families- o)ordination and oversight of wider community support to meet the individual needs of 8a¢h patient and their family. DuriThJ the financial year our specialist service saw a 15% Increase in the number of patlenls referred to us compared to the previous year. The number of ovemight visits made by nurses has risen by 8Vo. and our specialist Servi enabled 91 % of our patients to die in their preferred plac8 of death. This extra demand has led lo the Charity having lo think creatively about how to fvnd and maintain the level of service lo keep up wtth thls increasing demand. The demand pressures have increased by th8 expansion of the Day Centre servlces in the Sidford HQ. We expect the coming year to be one marked by incxease(J levels of marketsng and fundraising lo raise the profile of the Charity further within the Sid Valley. We continue lo be seen as a leader of best Practi lo¢ally, regionally and nationally. Page 3
Sidmoulh Hospice at Home Trustees. Report (continued) Now HQ and Day Contr• Our Sidford HQ continues lo be 8 thriving centre of exeellence that we continue lo develop. It has allowed the Chari(y lo support patients and families with a far greater depth and breadlh of ServIS than ever before, including a der range of complementary therapy offerings. We have the following servi¢e8 operatin9 out of the Day Centre.. MondaylWednesdaylFrlday Day Care for Sldmouth Hospice at Home patients. assisted patient bathing and cgmplementary therapi8s. . Tuesdayrrhursday: Demèntia Services run by th8 NHS Community Nursing team. The Speckqlist Assisted Bathroom was funded through the generosity of the Sidmouth Victoria Hospital Comforts Fund and is well utilised. This has further expanded our broad range of servlces to our patients, their careis, and families as part of our integr81ed model of care and is very much appreciated by all who benefit from its use. Profll• and CommunSty Engagomant The Infomiation Hub in Sidmouth's High Street has been further developed. Our ¢ommitted team of volunteers, who assist in mnnlng this faality. bring expertlse lo delivering a diverse offer of services there. We have seen an increase of 53Yo more visllors to this facility in this time. The Charity is fortunate lo have a tslented and commilled volunteer populalion of 85 volunteers, lo whom we are imrnensely gratgful for their gengrosity in giving their skills. support and time to enable our Charity to have nSiderable po$Ve impact on servlce users and our wider community. We ar6 grateful and appreciative for the work elhiG and dedlcalion of our staff who under Alasdair Cameron's stewardship have enabled Sidmoulh Hosplce at Home lo have 8 very successful year, offering opportunities for development to our service, fundraising and greater awareness of our work In the local community. The Charity employ3 a Fundraising and Marketing specialist of the Charity to increase awareness and engagement, as well as maximising income generation lo support our expanding list of Servi5. This rol& has proved lo be a tangible success, wth the levels ol support across the commuriity noticeably rising over the course of the year. The recognition of the work of the Charity. ils Impact on the patients and families and the value to the wKler community has never been higher. Page 4
Sidmouth Hospice at Home Truslees, Report (continued) Looking Ahead The Charity wll continue lo improve the care and support that wa ¢an provide through.. The continued provision of specialist nursing support for patients complex needs using the Sidmouth Inlegraled Model for Speoalist Palliative Nursing. Hospice at Home nursing provlsion lo enable mor8 patients to remain in their own homos. Wider supportive serylces to help our patients and carèrs lo have the best possible quality of lrfe and lo help address any conc8rn8 they have. Wider services for carers, lo provi(le respite and help them tr) slay connected with their friends and the ¢ommunily. Broadening our servicès to all palienis who have a Sid Valley GP and are dkagnosèd as palliative (including for example those with advanced dementia or frailty). Worting with other organisalions in our community and signposting lo them lo provvje the best possible care and support lo our patien15 and their families. Policy on res•trv•$ In the past. the Charity has relied on income from legacles lo assist in funding its exp8ndittJr8. By their very nature, Ihg Trustees cannot assume Ih8t In luture such income will be a gular. reliable source of income. In recent years, the level of income received from long-lemi investments and short-lerm deposils have ¢overed a significant bul deGreasing proportion of the cost the Charitys charitable actIves. The Trustees consider that Ihls trend is likely to continue. Due lo the critical nature of our services lo our local cornmunily, and our commllment to the NHS through the Royal Devon University Hèalthcare Trust to pay for the services of our Nursing Team. the Trustees have decided that il is pwdent to aim lo hold th8 equivalent of five years of nursing and clinical costs in restricted reserves. Inv•sthient policy and obJe¢tives The Constitution allows for funds lo be invested with Officlal Custodian for Charities or in securities for the lime being aulhorised by law for the investment of trust fijnds or in such other investments {including the purchase of freehold or leasehold land} as Ihg TTUStees shall, on advice of ils financial adviser given al the time of investment, select. The Trustees havg invested monies in both fixed interest and investment units lo secure quartedy income and capitsl growth with the stral8gy to maintain service to patients and the assgls of the Charity- During the year Charles Stanley & Co Limited (Exeter branch} advised on all of the Charlty's stock market investments and made half yearly portfolio presentations al meetings of the Truste88. Prior to the year end the Trustees made the decision to change investment advisors lo Cazenove Capital. Al funds were transferred post year end. The Charity seeks lo achieve the bgsl financial relum within an acceptable level of risk. The investment objective for the portfolio is to gengrale a return in excess of inllation over the long temi wlh a medium-hi9h valu8 of risk and lo presetwo the real value of the reserves. Page 5
Sidmouth Hospice at Home Trustees. Report (continued) Structure, governanc• and managemÈnt Nature ofgovgrning document SKlmoulh Hospice at Home is a charitable incorporated organisation whh was originally established as Sidmoulh Hosplscare Trust by constitution dated 9 August 2013. 11 changed ils name to Sidmouth H05pice at Home on 4 November 2020. It is a registered charity, number 1153338. Recrultment and appolntment of trust80s The Board of Trustees is a seK-appoinling body. One Ihlrd of the members of the Board are required to retire annually bul any member may be re*lected for a further lerm. The following trustees retired at the October 2023 meeting but Ware re-elècted for a furthor 3 year term.. - Mr D A HanCk Cwk- Chair - Mr D H Lee - Vice chair Mr P Cranch Oryani$atlonal $tru¢ture The Trustees arè responsible for ov8rse8ing the runnlng of Sidmouth Hospice al Home. Policy decisions are made by the Trustees who meet regulady. The Chi8f Ex8cutlV8 Officar is responslble for dfraling wf(h day lo day transactions. Major rff$k$ and management of those risks The Trustees have examined all areas of the Char6tys operations and considèred the major risk8 faced in each of Ih8S8 areas. In the opinion of the Trustees, the Charity has established resources and review systems which. under normal conditions, should allow these risk$ to be mitigated to an acceptable level in its day to day operations. Statement of Trust••s' Re$p¢n$ibiliti8s The trustees are responsible for preparing the Iruslees. report and the financial slalements in accordance with the United Kingdom Accounting Standards Iunitgd Kingdom Generally Accopled Accounting Practlcel and applicable law 8nd regulations. The law applicable lo charities requires the trusle&s lo prepare financial statemen15 for each financial year which give a true and fair vigw of the slate of affairs of the Charity and of (he incoming resources and applicallon of resources of th8 charty for that period. In preparing these financial slalements, the trustgfrs are required to: Page 6
Sidmouth Hospice at Home Trustees. Report Icontinued) select suitsble accounting policies and then apply them consistently., obseNe the methods and principles in the Charities SORP., make judg8m8nls and estimates that ara reasonable and prudent.. state whether applicable accountlng standards hav8 been followed, subject to any matgrial departures disclosed and explainwj in the financial statements,. and prepare the Ilnancial 5talemenls on the going concem basis unlgss il is inappropriate lo presume that the Charlty will continue in busin8S9. The Iruslees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charities IAccounls and Reports) Regulations 2008. and the provisions of the constrtution. The Iruste8s are also responsible for safeguarding the assets of the tharity and hence for takSng reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are rèsponslble for the Maintenan and integrity of the corporate and financial informallon induded on the charitable companls website. Legislation goveming the preparation and dlssemination of financial statements may dtffer from legislation in other jurisdictions. Dls¢losure of Infomiation to auditor Each truslee has taken steps ihal they ought lo have taken as a Iruslee in order to make themselves aware of any relevant audit infom)ation and to establish Ih8t the charity's auditor is awaTe of that inform8tion. The trustees wnfiim that there is no levant informatson that they know ol and of which they know the auditor is unaware. The annual report was approveol by the trustees of the chartly on behalf by.. nd signed on its Mr D A Han¢o¢k Cook Chalrman and trustee MrK Trust Gillanders Page 7
Sidmouth Hospice at Home Independent Audltor's Report to the Trustees of Sidmouth Hospice at Home Oplnion We have audited the linancial statements of Sidmoulh Hospice at Home (the 'charity') for the year ended 30 June 2024, which comprise the Statement of Finarbcial Aclivllies, Balance Sheet. Cash Flow Statement, and Notes lo the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has begn applied in their preparation is United Kingdom AGcounting Standards, comprlsing Charili8s SORP - FRS 102 'The Flnancial Reporting standard applicable in the UK and Republic of Ireland, and applicabl8 law (United Kingdom Generally Accepted Accounting Pra¢ticel. In our opinion the financial stat&menl8'. give a true and fair vi6w of the stale of th8 charity's affairs as at 30 Jun& 2024 and of its incoming r8sources and appllcalion of resources. including its income and expenditure. for the year than ended., have b8en property prepared in accordance wfth Unlted Kingdom Generally Accepted Accountlng Practice., and have b88n prepared in accordance wtth the requirements of the Charitl8s Act 2011. Basls for opinion We conducted our audit in accordance with Intemational Standards on Auditlng (UK} IISAS IUKI} and applicable 18w. Our responsibilities under those standards ara lurther described in the auditor responsibilities for the audit of the finanaal slalernenls section ol OUT report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial stalements in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan with thèse requiremgnts. We believe Ihal the audit evidence we have obtained is sufficient and appropriate to promde a basis for our opinion. Con¢lusions rglating to going concern In auditing the financial statements, we have conclude(l that the trustees use of the going Concem basis of accounting in the preparation of the financial $lalements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions th8t. individualty or collectively. may cast sigr)ificant doubt on the charity's ability to Continue as a going concem for a period of at least fv4elve months from wh8n the original financlal statements were authorised for issue. Our responsibilities and the responsibiliti8s of the trustees with respect to going concem are described in the relevant sections of this pOrt. Other infomiatlon The Iruslees are responsible for Ihe other information. The other information comprises the information included in the annLJal report, other than Ihe financial slatemenls and our audilols report thereon. OUT opinion on the financial slalemenls does not cover Ihe other information and, except lo the extent olh8Nlse explicitty ststed in our report, we do not express any form of assuranc8 conclusion Ihereon. Pagg 8
Sidmouth Hospice at Home Independent Auditor's Report to the Trustees of Sldmouth Hospice at Home (contlnued) In connection with our audit of the financial slatemenls, our responsibility is lo the other infomialion and, in doing so. consider whether the other information is m81eri8lly inconsislenl with th& financial slalemenls or our knowledge obtained in Ihe audit or otherwise appear5 to be materially misstated. If we identrfy such malerial inconsistencies or apparent material misstatements, we are required to detemiine whether there is a material rnisslatemenl in the financial slalements or a material misstatement of the other infomiatK)n. If, based on Ihe worl( we have perforrned, we conclude that there is a material misstatement of Ihls other informalion, we are required lo report that fact. We have nothing lo report in this regard. Matters on whlch wa are requlrod to report by exception In thg light of our knowledge and understsnding of the charity and its environment obtained in the Course of tho audit, we have not identifd material rnlsstatemenls in the Trustees. Report. We have nothing to report in respect of the following matters where th9 Charities (Accounts and R8portl Regulations 2008 requires us lo report to you rf, in our opinion.. adequate accounting records have not been kgpt. or returns adequate for our audit have not been received from branches not visited by us.. or the financial slalements are not in agreement th the accounting records and returns.. or certain disclosures of trustees remuneration spe¢ifi&d bylaw are not made,. or wg have not received all the information and explanations we requirè for our audit. Responslbllities of trusteès As explaine(I more fully in the Slalernent of Trustees, Responsibilities (set out on page 6 and 71, the trustèes are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as th8 Iruslees determine is necessary lo enable the preparation of financial statements that ar8 free from material misstslement, whether due lo fraud or error. In prèparing the tinancial 51alemenls. the Irustges are responsible for assessing the charitys abiloty to ¢ontinue as a going concem, disclosing, as applicable, matters related lo golng concern and using the going concem basis of accounting unlass the trustees either intend lo liquidate the charity or lo cease operations, or have no rèalistic alternative but to do so. Auditor Responsibiliti lor the audit of the financial 5tatement$ Our oty'eclives a lo obtain reasonable assurance aboul whether the financial statements as a whole are free from material misstaternenl, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assuranee is a high level of assurance. but is not a guarantee that an audit conduct8(J in accordance with ISAS IUKI will always delecl a material misstslement when il exists. Misstalem&nts can arise from fraud or error and 8re considered material if, individually or in the aggregate, they could reasonably be 8xpeded to influence the economi¢ decislons of users taken on the basis of these financial slalemenls. The extent lo whlch our pedureS are capable of detecting irregularities, including fraud is detailed below.. Page 9
Sidmouth Hospice at Home Independent Auditor's Report to the Trustees of Sidmouth Hospice at Home (contlnued) Irregularities. including fraud. are instances of non-compliance with laws and regulath)ns. We design procedures in line with our restx)nsibilities, outlined above, to detect material misstatements in respect of irregularilie5, induding frautj. The exlenl lo which our procedures are capable o( detecting irregularities, including fraud is detailed below= We identffied areas of laws and regulations th8t could reasonably be èxpect?d to have a material effect on the financial slalements from our general commercial and sèctor experiencè and through discussion with the trustees and managem8nl. We communicated identifièd laws and regulations throughout our team, and rgmained alert to any indications of non-compliance throughout the audit. Thè charily18 subject to laws and regulations that govem the preparats'on of the finan¢ial slalemenls, including financial reporting legislation, and other charity legislab'on. Thè ¢harity is 81s0 subject lo other laws and regulations where thè consequences ol non-compliance could have a material impact on th8 amoun15 or disdosures wilhln the financial ststemenls, includlng but not limiled lo, employment, anbribery and antMoneY laundering. Owing lo the inherent limitations of an audrf. there is an unavoidable risk that we may not have detected some material misslalemenls in the financial slalements, even though we have properly planned and pèrformed our audil in accordance with auditing standard5. In any audit, there remains higher risk of non4eteclion of irregularits'es, as these may involve collusion. forgery, intentional omissions. misrepresentations, or the override of intemal controls. We are not responsible for preventing non-compliance and cannot be expected to delect non-compliance with all laws and regulalions. As part of an audit in accordance with ISAS IUKI, we exercise professional judgement and vnainlain professional scepticism throughout the audit. We also.. Identrfy and assess the risks of material misslatemenl of the financial statements, whether due to fraud or error, tjesign and perform audit procedures responsive to those risks, and obtain audrt evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not dete¢ting a material misslalemenl resulling from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery, intentional omissions, misrepresgntslions. or the override of internal conlrd. Obtain an understsnding of intgm81 control relevant to the audit in ordèr to (Jesign audit procedures that are appropriate in Ihe circumstances. but not for the purpose of 8xpr&ssing an opinion on the effectiveness of the charity's intemal control. Evaluate the apprDpriateness of 8¢counling policies used and the rfjas0nabnes$ of accounting gstimatas and related disclosur?s made by the trustees. Conclude on the approprialeness of the trustees use of the going ¢oncem basis of accounting and, based on the audit eviden obtained, whether a mal8rial uncertainty ¢xi51s relaled lo events or conditions that may cast significant doubl on the charity's ability to continue as a going concern. If we nClude that a material uncertainty exists, We are required to draw attention In our auditorfs r8port lo the related dis¢losures in the financial slalemenls or, if such dSsclosures are inadequat8, to modify our opinion. Our conclusions ara based on the audit evid8nce obtained up lo the dale of our auditor's report_ However. futur8 wenls or conditions may caus8 th8 charity to c8ase to continue as a going concern. Evaluate the overall prasentalion, structure and content of the financial Ststemenls. including the discjosures, and whether the financial slalements represent the underlying transactions and vent5 in a manner that achieves fair pr8senlalion. Pa98 10
Sidmouth Hospice at Home Independent Audltor's Report to the Trustees of Sidmouth Hosplce at Home {contlnued) We communicate wf(h those charged wth 9ovomance regarding, among other matters, the planned scope and timing of Ihe audit and significant 8udil findings. including any signifficanl deficiencies in internal control that we identify during our audlt. Use of our report Thls report is made solely lo the charity trustees, as a body, In accordance with s8elSon 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might stale to the trustegs those matters w8 are required to slate lo trustees in an auditors. report and for no other purpose. To the fullest extant permitted by law. we do not accept or assume responsibility to anyone other than the charity and its trustees as a b(Mty, for our audit work. for this rèport, or for the opinions we have formed. Stuart Carrington FCA (Sonior Statutory Auditor} For and on bahalf of Westcotts (SWI LLP. Statutory Auditor Timbgrfy South Street Axminster Devon EX13 SAD Pag8 11
Sidmouth Hospice at Home Statement of Financlal Aclivities for the Year Ended 30 June 2024 Unrestrictéd lunds Restricted funds Total 2024 Total 2023 Notg Income and Endowments from: Donalions and legacies Other trading activities Investment income Other income 1.017.972 5,553 82,457 80,000 12,816 1,030.788 5,553 82,457 80,000 1,058,135 4,260 74,321 Total income 1,185.982 12.816 1,198.798 1,136,716 Expgndlture on: Raising funds Charitable activities Other expenditure Total expgndilure Gainslllossesl on Investment assèts 116,366} 1843.4531 173} 116.3661 1853,3711 {731 {17,3571 1737,410) 19,9181 1859,8921 19.918) 1869,8101 1754,767} 149,608 149,608 6,694 Nel income Gross transfers bee@n fijnds 475.698 2,898 478,596 388,643 84.S76 {84,5761 Net movement in funds 560,274 {81,6781 478,59 388.643 Ro¢onciliatlon of funds Total fijnds brought forward 20 Total funds carried forward 20 3,799.158 86,650 3.885,808 3,497,165 4,359,432 4.972 4.364,404 3.885,808 All of th8 charity's activthes derive from conllnuing oparations during the above periods. The funds breakdown for 2023 is shown in note 20. Tho notes on pages 15 10 27 fomi an integral part of these financial ststements. Page 12
Sldmouth Hospice at Home (Registration number: 1153338) Balance Sheet as at 30 June 2024 2024 2023 Note Flxed assets Tangible assets Investments 14 15 849.015 2,173.102 1,002,993 1,903,249 3.022,117 2,906.242 Current assets Debtors Cash al bank and in hand 16 17 897,524 585.601 852.897 248.317 1,483,125 1,101,214 Cr•dltors.' Amount$ falling due wlthln ono year Ngt currnnt assets 18 1140,8381 121,6481 979,566 1,342,287 Net assets 4.364.404 3.885,808 Funds of the charlty: Restrict•d Income funds Restricted funds 4,972 86.650 Unrestrl¢ted incoma funds Unrestricted funds 4.359.432 3,799,158 Total fund$ 4,364.404 3,885.808 Thè financial stajements on pages 12 10 27 were approved by the trustees. and authorised for issue on i , IJ and signed on their behalf by.. D A Hancock Cook Chairman and trust•e MrK Trust illand•rs The notes on pages 15 10 27 fom an integral part of thes8 financial slatemenls. Page 13
Sidmouth Hospice at Home Cash Flow Statement for the Year Ended 30 June 2024 2024 2023 Note Cash flows from op•rating actlvltlos Nel cash income 478,596 388.643 AdJu$lments to cash flows from nonash Item$ Depre¢iation Investment ineome Profil on disposal of tsngible fixed ass0ts Revaluation of investments 14 28.340 182,457} 179,970 1150.5971 193.912 30,735 {74.3211 15 6,694 338,363 Worklng capllal adjustrnents Increase in debtors Increase in creditors 144,6271 19.190 {521,5391 17,939 18 Net cash Ilows from operating a¢tivities Cash flows from investing a¢tlvlties Interest receivable and similar Income Purchase of tangible fixed assets Sale of tangible fixed assets Purchase of investments Sale of investmenls 168.475 165,237 82,457 195,4351 301,043 1518,407} 399.151 74,321 179,032) 14 15 15 1364,610) 635.791 Nel cash flows from investing activities Net increase In Cash and cash equival&nl$ Cash and cash equfvalents at 1 July Cash and Cash equivalents at 30 June 168.809 266,470 337,284 101,233 248.317 147,084 585.601 248,317 All of the cash flows are derived from continuing operations durfng the above hvo periods. The notes on pagès 15 10 27 fomi an integral part of these financial statements. Page 14
Sidmouth Hospice at Home Notes to the Financial Statements for the Year Ended 30 June 2024 1 Accounting policies statement of compllance The financial ststemenls have been prepared in accordance with the secon¢J e¢Jition of the Charities Statement of Recommended Practice issued in October 2019, the Finan¢ial Reporbng Stsndard applicable In the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Basls of proparatlon Sidmouth Hospiee al Horne meets the definon of a public benefit entity under FRS 102. The accounts (financial slatementsl have been prepared under the historical cost wnv8ntion with items recognised al cost or Iransactlon value unless othe1$e staled in the relevant nolels) to these accounts. The a¢Jdress of thè prlncipal office is Church Street, Sidford, Devon, EX10 9RL. The financlal statements are prepared in sterfiro, whlch is the functional currency of the entity. Going concern The trustees consider that there are no material uncertainties about the charills ability lo continue as a going concern. Judgemgnts The preparation of the financial slalernenls requires management to make judgements. estimates and assumptions that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are belleved to be reasonable under the CircumstanS. Therg are no judgements or kay sources of 8stimalion uncertainty that have a signlficanl risk of causing a materbal adjustm8nt to assets and liabilities to be disclosed. Accountlng estimates and assumptions are made concerning the future and. by their naturg, will rarely equal the rolaled actual outcome. Incomo and endowments l income is included in the statement of financial activities when the Charity is entitled lo the incorne. any pèrformance related conditions attached have been Tnel or are fully within the control of the Charity, the income 15 considered probable and the amount can be quantified with reasonable accuracy. The following specific wlicies are applied lo particular categories of income= Voluntsry income is reIVed by way of grants, donations and gifts and is included in full in the statement of financial a¢tivi1188 when rec&ivable. Grants where entillemenl is not condilional on the dolivery of specifie perforniance by the charity. are r8¢ogni5ed when th& Charity becomes unconditionally entitled to the grBnt. Investment income Is includ8d when received. Lggacies ar8 included when Ihe Charity is advised by th8 personal representative of an estate that paym8nl will be made or property transferred and the amount invdved can be quantified. Page 15
Sidmouth Hospice al Home Notes to the Flnanclal Statements for the Year Ended 30 June 2024 (contlnued) Exp8ndlture Expendilur8 is recogni5ed on an awruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully r8covgred, and is reported as part of the expendlture to which it relates: Costs of raising funds comprise the costs assoaaled with attracting donations, grants and legades and thg Costs of Ir8dlng for fundraising purrK)ses Charitable èxpenditure comprise those costs incufred by the Charity In the delivery of its activities and services for its benefiaaries. 11 indude5 both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are those costs incurred directly in support of expendlture on the objects of the charity and included project management. Other expenditure includes all expenditure that is neither related to raislng funds for the Charty nor part of ils expendrture on charitable activities. All costs are allocated between 8xpendilure categories of the SOFA on a basis designed to r8fflecl the use of the resource. Costs relating lo a particular activity are allocated directly, others arg apportioned on an appropriate basis, as Set out in Ihg notes to the accounts. Taxation The ¢h8rily is considered to pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. A¢eordingly. the charity is pot8ntially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of charable Gains Act 1992. to the extent that such income or gains are aPpld exclusively to charitsble purposes. Tangible fixed assets Assets are initially rècorded at cost, and subsequently stated at cost less any accumulated depr&ci8ti0n. Medical equipmenl Is written off lo the Ststement of Financial Activities in the of purchase. Doprgclatlon and 8mortlsatlon Depreciation is provided on tangible fixed assets $0 as to writ8 off the Cost or valuation, less any eslimaled residual valuè. over their expeded useful economic life as follows= Assèt elass Land and buildings Fixtures and fittings Equipment Depreclatlon mhOd and rate straight line over 50 years straight line over 10 years straight lin8 over 5 years Page 16
Sidmouth Hospice at Home Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) Fixed ass•t invostments Unlisted equity investmenls are initially recorded al cost. and subsequently measured al fair value. If fair value cannot be reliably measured, assets are measured al cost less impaimenl. Listed Investments are mèasuréd al fair valu8 With changes in fair valu8 being rgcognis8d In income or 8xp&ndilure. Cash and cash equivalents ash and cash èquivalents comprise Cash on hand and call dèposits, and other short-temi highly liquid investments that are readily convertible lo a known amount of cash and are subject to an insignificant risk of change in value. Fund $tructur• Unrestrictg(l income funds arg general funds Ihat are availalAe for use al the trustees discretion In lurtherance of the obj8¢tives of the charity. Deslgnaled funds are unrestricted funds earmarked by thè Trustees for specific purpos8s. Restrictèd funds are subjected lo restrictions on their gxpendilure imposed by the donor or through the terms of an app8al. Defined contribution plan$ Contributions lo defined contribution plans are recognised as an expense in the period In which tha related service is provided. Prepaid contributions are recognised as an asset to the exlenl that the prepayment will lead to a reduction in future paymanls Dr a cash refund. When contributions are not expected lo be settled wholly within 12 months of the end of the reporting dale in which the employees render the related servi¢e, the liabilty is measured on a (liscounted present value basis. The unwnding of the discount is recognised as an expense in the period Sn which it arises. Page 17
Sldmouth Hospice at Home Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) Flnancial in$trum•nts A financial asset or a financial liabiltty is recognised only vthen Ihe enlily becomes a party to the contractual provisions of the inslrumenl. Basic financial instruments are initially recognised at the amount rec8ivablè or payable including any related transacllon costs. unless Ihe arrangement constitutes a financlng Iransaclion. vthere it is recognisèd al the presenl value of the future payments discounted al a market rate of interest for similar debt instrument. Current assets and current liabilities 8re subsèquently measured at th8 cash or other consideration expected lo be paid or Teceived and not discounted. Debt instruments are subsequendy measured al 8mortised cost. Where investments in share5 or prefvren¢e share5 are publicty traded or Ihgir fair value can otherwise be measured reliably, the investm8nt is subsequently moasure(l at fair value wth changes in fair value recognised in income and expenditure. Al other such investments are subsequ8nUy measur8d al cost loss impairment. 2 Incorne from donatlons and l•gaelès Unrestrfctod lunds General R•slricted funds Total 2024 Don8tlon$ Ind l•ga¢ie$ Donations Leg8¢ies Gfft aid reclalmed Grants. Includlng ¢ap6tal grants Grants 119,559 894,421 3.206 119.559 894,421 3.206 786 12.816 13,602 1.017.972 12,816 1.030.788 Unrestrl¢t•d funds General R•stricted funds Total 2023 Donatlons and logacl•$ Donations Legades Gift aid reclaimed Grants. includlng ¢8pital grants Grants 109.496 850,674 3,406 109,496 850,674 3.406 6.684 87,875 87,875 94,559 1.058,135 970,260 Page 18
Sidmouth Hospice at Home Not8S to the Financial Statements for the Year Ended 30 June 2024 {contlnued) 3 Income from other tradlng a¢tivltie8 Unrestrlcto11 fund$ G•nèral Totsi 2024 Room rental 5,553 5,553 5,553 5,553 Unrestrlcted funds Gen9ral Total 2023 Room renL21 4.260 4,260 4.260 4,260 4 Invostment incomg Unrestricted funds Goneral Rostrictèd tunds Total 2024 Bank interest receivable Incotne from listed investments 4.307 78,150 4,307 78,150 82,457 82,457 Unrastri¢tsd funds General R05tricted fund$ T¢tal 2023 Bank Inleiesl rec8iv8ble Income from listèd investments 1,623 72,584 114 1,737 72,584 74.207 114 74,321 S Other Income Unrestrlcted funds General Total 2024 Gains on sale of tangible fix8d assets for charity's own use 80,000 80,000 Unrestrl¢t•d lunds Ggneral Total 2023 Gains on sale of intangible fixed 8ssets for charitys own use Page 19
Sidmouth Hospice at Home Notes to the FinanGial Statements for the Year Ended 30 June 2024 (continued) 6 ExndItr¥ on raising fund$ al Investment managgmgnt ¢osts Vnr•$trl¢tsd fund$ General Total 2024 Investment mana9em8nt fees and charges 16,366 16,366 16.366 16.366 Vnro$trlctsd funds Gonoral Total 2023 Investment management fees and charges 17.357 17,357 17.357 17.357 7 Exp8ndllur• on cha¥ltsblg adlvltl•s By fund type Unrestricted funds Ggngral Rastrl¢t•d funds Total 2024 General funds Support costs 791.031 52,422 9.918 800,949 52,422 843,453 9,918 853.371 Unr•strfcted fund$ General Rostrict•d funds Total 2023 Gener81 funds Support costs 680.199 44,021 13,127 63 693,326 44,084 737,410 724,220 13,190 Page 20
Sldmouth Hospice at Home Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) 8 Oth•r •xpenditurg Unrestricted funds Gon•ral Total 2024 Loss on sale of tangible fixed assets held for charity's own use 73 73 73 73 Unrestrlctèd funds General Total 2023 Loss on sale of laroible fixed assets held for charitvs own use 9 Analy$l$ of supp¢rt costs Support costs allocated to charltable activitios Total 2024 Total 2023 Staff costs Legal and professional fees Bank charges 21.047 31,283 92 20,235 23,548 301 52,422 44,084 10 Net Incomlngloutgolng reyourcos Nel incoming resour¢ès for the year include.. 2024 2023 Audit fees Profil on disposal of tangible fixed assets Depreciation of fixed assets 3.780 179.9701 28.340 3,600 30,735 11 Truste9$ remuneratlon and expenses No trustees. nor any persons connected wi(h them, have recefved any remunefalion from the charity during the year. No trustees have received any rgimbursed expenses or any other benefits from the charfty during the year. Pege 21
Sidmouth Hospice at Home Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) 12 Staff costs The aggregate pa011 costs were as follows.. 2024 2023 Staff costs durlng the year wgro: Wages and salaries Social security costs Pension costs Other staff cost8 179,767 10,476 5.245 4.430 167.543 8,705 4,406 4.794 199,918 185,448 The monthly av8rage numb8r of pgrsons lincludlng senior management I leadershlp team) employed by thè charity during the year was as follows.. 2024 No 2023 Manageri81 staff Adminislralive staff The total employee benefits of the key management personnel of Ihe charity were £71.119 {2023 £64,895}. 13 Audltors. remuneratlon 2024 2023 Fees payable for the audit of the financial ststernents 3,780 3.600 Pagg 22
Sidmoirth Hospice at Home Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) 14 Tangible fixod assèts Land and Flxtures and bulldlngs fittings Equipment Total Cost At 1 July 2023 Addttions Disposals At 30 June 2024 1,055.840 86.300 1250,0001 42.040 5.893 27,063 1,124,943 3.242 95,435 11.7891 1251,789 892,140 47,933 28.516 968.589 Dopre¢iation At 1 July 2023 Charge for the year Eliminat8d on disposals At 30 June 2024 105.513 17.844 130,000 7,055 4,793 9.382 5,703 17161 121,950 28.340 130,716 93,357 11,848 14,369 119,574 Net book value AI 30 June 2024 798,783 36,085 14,147 849,015 At 30 June 2023 950,327 34,985 17.681 1.002,993 15 Flxad a$$•t Investments Othor invo$tm•nts Llstad investmgnts Total Cost or Valuatlon At 1 July 2023 Revaluation Additions Disposals 1,903,249 1,903,249 150,597 150,597 518,407 518,407 399.151 399,151 At 30 June 2024 2,173,102 2,173,102 Net book value AI 30 June 2024 2.173,102 2,173,102 At 30 June 2023 1,903.249 1,903,249 All investments shown above are held al valuation. Page 23
Sldmouth Hospice at Home Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) Flnancial assets held at falr value The above carying amounts are recognised as follows.. 2024 2023 Held al fair value Held al historical cost less impalm)enl 2,173,102 1.983,085 1,903,249 1,818,430 Fixed asset investments a included in the financial ststemenls at market value. AJI changes in value, whether 8ri5ing upon disposals or upon revaluation, are reported in the Statement of Financial Activities for the year in which the change occurs. 16 Debtors 2024 2023 Trade debtors Prepayments Accrueij income Other debtors 856.605 3,166 2,752 35,001 897,524 750.417 2,224 738 99,518 852,897 17 Cash and cash oquivalents 2024 2023 Cash on hand Cash al bank 147 585,454 155 248,162 248.317 585.601 18 Creditors: amounts falling duo wlthln one year 2024 2023 Trade creditors Other cr8dilors Accnjals 17,448 114.882 8,508 6,037 107,430 8.181 140.838 121,648 19 Penslon and oth•r 8cheme$ Dofined ¢ontributlon pen$lon s¢hem9 The charity operatss a deflne(J contribullon pension scheme. The pension cost charge for the year répresents contributions payable by the charity lo Ihg scheme and amounted to £S,245 12023 £4.406}. Page 24
Sidmouth Hospice at Home Noles to the Flnancial Statements for the Year Ended 30 June 2024 {continued) 20 Fund$ 1 July Incomlng Resources 2023 resources gxpgnded Transfgrs Galnsl Ilos$&sl 30 June 2024 Unrestricted funds Goneral Gèneral funds Propety fund Clinical Services 848.831 1,105,982 950,327 80,000 2,000,000 3.799.158 1.185,982 1842,0481 298.276 117.8441 1213.7001 149,608 1,560,649 798.783 2.000,000 149.608 4,359,432 859,892 84.576 Restricted funds Meckiff Education fund Sidford carpark and and grounds Sidford garden b8nchBs 14,890 (9,9181 4,972 71,760 12.000 {83.760} 816 816 86.650 9,918 84,576 12.816 _ 4,972 Total funds 3.885.808 1.198,798 869.810 149,608 4,364,404 1 July In¢oming Resources 2022 resources expended Transfers Gainsl {losses> 30 June 2023 Unro$trictod funds Genoral General funds Property fund Clinical ServicÈ$ 568,907 1.048.727 913,167 2,000,000 3,482,074 1,048.727 1720,4591 (55.038) 121,1181 58,278 6,694 848.831 950.327 2,000,000 6,694 3,799,158 741.577} 3.240 Ra$trlctsd funds Meckiff Education fund Health and Wellbeing Hub New Clinical Nurse Sidford carpark and and grounds 15,091 114 1315) 14,890 875 12,000 18751 112,000) 75,000 13.240 13,240 71,760 15,091 87,989 113.1901 86,650 Total funds 3,497,165 1,136,716 1754.767 6.694 3,885,808 Page 25
Sidmouth Hospice at Home Notes to the Flnancial Statements for the Year Ended 30 June 2024 (continued) The speafic purpo$e5 for whth th$ fund5 are lo be applied are as follows: The Property fund represents the net book value of the land and building held by the Charity. The Clinical Seryices fund represents the equivalent of five years. costs for the provision Df Clinical SeNices through our inlegraled Model of Care by the Charity. These funds have been designated a5 a commitment to ensur8 the conlinuity of our critical Clinical Services through our Integrated Model of Care for a period of at least five years. Purpose of restricted funds The Meckiff Education fund is available for nursing staff for advanceij teaching and training. It Is repres8nted by cash at bank. The Hearth and Wellbeing Hub fund represents grants and donations received towards the costs of running the H88llh and Wellbeing Hub. Clinical Nurse Specialist fund represents grants and donations received towards the provision of a new Clinical Nurse Speaalisl. Sidford Carpark and Grounds fund represents gran15 and donations received lowards the (X¥sls of improvem8nts to the carpark and grounds at Sidford. Sidford garden benchgs fund ropresenls grants reiVed towards the cost of b&nthes for the gardens. 21 Anaty$ls of net assets betWn funds Unrostricted funds G•neral Total funds at 30 June 2024 R•stricted funds Tangible fixed assets Frxed asset invesknents CUrn1 assets Current liabilitiès 849,015 2.173.102 1.478.153 140,838 849.015 2,173,102 1,483,125 140.838 4,972 Total net assets 4,359.432 4,972 4,364,404 Unrestrlcted lunds Gonoral Total fund$ at 30 June 2023 Restricted funds Tangible fixed assets Fixed asset inveslmgnls Current assets Cutrent liabilities 1.002,993 1,903,249 1,014.564 121,648} 1,002,993 1,903,249 1,101,214 1121,6481 3,885,808 86.650 Total net assets 3,799,158 86,650 Page 26
Sldmouth Hospice at Home Notes to tho Flnanclal Statements for the Year Ended 30 June 2024 (continued) 22 Rolatgd party tranyactlons There were no related paty Iransacbons in the year12023: no). Page 27
Sidmouth Hospice at Home Detailed Statement of Financial Activities for the Year Ended 30 June 2024 Total 2024 Total 2023 Income and Endowmènts from: Donations and legacies lanalysed below) Other trading activities lanalys8d below) Investment income lanatysed below) Other income lanalyBed below) Total incomg 1,030,788 5,553 82,457 80.000 1.058,135 4,260 74,321 1,198,798 1.136,716 Expenditurg on: Raising funds {analyseiJ below) Charitable activities lanalysed below) Other expenditure lanalysed below) Total expendTiure Gainslllossesl on investment assels Net income 116,3661 1853,3711 173 (17.3571 {737,4101 {869,810) 149,608 1754,767) 6,694 478.596 388.643 Net movement in funds 478.596 388,643 R•conciliatlon of funds Total funds brought forward Tolal funds carried forward 3,885,808 3.497,165 4,364,404 3,885,808 This page doos not form part of the statutory financial statements. Page 28
Sldmouth Hospice at Home Detailed Slatement of Financial Activitles for the Year Ended 30 June 2024 {contlnued) Total 2024 Total 2023 Donatlon$ and 1ogaclg$ Donations Legacies Gift aid income Grants. including capital grants 119,559 894.421 3,206 13.602 109,496 850,674 3,406 94.559 1,030,788 1,058,135 other trading a¢tivities Room rentsl 5,553 4,260 4,260 5,553 Investm•nt In¢ome Bank interest receivable Income from listed investments 4,307 78,150 1,737 72,584 74,321 82.457 other income Profiullossl on sale of tangible fixed as5els hgld for charfvs own use 80.000 80.000 Raising funds Inveslm8nt management fees and charges {16.3661 {17,357 17,357 Charieablg activities Nurses salaries and expensès DeprlatIOn of freehold propety Property costs Health and wellbeing centre Sundry expenses Wa5 and salaries Social s8curity costs Employer ¢ontributions to pension plans Other employe8 bènerts Medical equipment, supplles and treatment Sidmouth hospice al home support costs Profile raising fyvenls Volunteer support sch8m8 Depreciation of other assets Insurance 1441,0381 117.8441 145,9921 121.7851 122,9541 {161,3671 18.5171 14,5571 14,4301 12,3091 14891 {19.0091 {13,8581 {10,4961 15,7121 This page does not form part of the statutory financial statements. Page 29 {383,8331 121,118) 138,628) 117,697) 110,142} 1149,786} 16.772) 13,8611 14.7941 12.5001 17,4481 17,7961 16.3111 19,617} 15,117}
Sidmouth Hospice at Home Detailed Statement of Financial Activltles for the Year Ended 30 June 2024 (contlnued) Total 2024 T¢tal 2023 Office equlpmènt Printing, p051ag8 and stationery Vat reclaim {18,381) {18,124) 15,913 {14,565} {13.5411 10,200 1800.9491 693,326 Support ¢o$ts Bank charges Wages and salaries Social security costs Employers contributions to pension plans Accountancy fees Audit fee PayToII fees Legal and professional fees (921 {18.400) 11,959) 1688 {4.728} (3,7801 11.6751 121.1001 (52,422 (301 > 117.7571 11.933) 1545) {4,506} {3.6001 {887) 14,555) 44,084 Other exp•nditur• Lossllgainl on sale of tangibl8 fixed assets held for charitys own use 1731 {731 Gains/(los$es) on Investmgnt assots Gainslllos8es) on investm¢nt assets 149,608 6,694 6.694 149,608 This page does not form part of the statutory financial statem&nts. Page 30