Docu81gn Envelope ID.. 813F8798-5E10445&A2CLl4B686417167 Registsred number: 08130595 Charity number: 1155857 Wisdom Hospice Support (A Company Limited by Guarantee) Trustees. Report and Financlal Statements For the Year Ended 31 March 2025
Docusign Envelope ID.. 813F8798-SE10-4453-A2CD-14B686417167 Wisdom Hospice Support IA Company Limited by Guarantee) Contents Page Reference and administrative details of the charitable company. its Trustees and advisers Trustees, report Independent auditorfs report on the financial statements Statement of financial activities 7-10 11 Balance sheet 12 Notes to the financial ststements 13-24
Docusign Envelope ID: 813F8sE10445&A2CD-I4B688417187 Wlsdom Hospice Support (A Company Limited by Guarantee) Referen¢e and admlnlstrallve detalls of Ihe Charlty, Its Trustees and advlsers For the year ended 31 March 2025 Truslees R. C. Harris T. P. Sillars {Chairman) N. C. Wright appointed 4 April 2025 Chief executive M. Reeves Senior management team J. Buck J. Hale-Brown Financial Controller Head of Income Development Company reglsiered number 08130595 Charity reglslered number 1155857 Independent auditor UHY Hacker Young Thames House Floman Square Sittingbourne Kenl. ME10 48J Soll¢ltors Gullands Solicitors 16 Mill Slreet Maidstone Kent, ME15 6XT Page 1
Doouslgn Envelope ID.. 813F879&5E1O445&A2C14B6864l7I67 Wisdom Hosplce Support (A Company Limited by Guarantee) Trustees, report For Ihe year ended 31 March 2025 The Trustees present their annual report together with the audited financial statements of Wisdom Hospice Support (the 'charitable company,) for the financial year ended 31 March 2025. The Trustees confirm that the annual report and financial staiements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Praclice (SORPJ, applicable to charities preparing their a¢unt$ in a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities SORP {FRS 102)(second edition - October 2019)). STRUCTUR4 GOVERNANCE AND MANAGEMEP Organlsallonal structure and declslon maklng The charitable company is managed by the Chief Executive of the parent charity (Wisdom Hospice Charity) under Ihe direction of the Trustegs. The Trustees. who were also directors, who served during the year were: _ R. C. Harris T. P. Sillars {Chairman) Constitution The charitable company is constituted under a Memorandum of Association dated 4 July 2012 and is a registered charity number 1155857. The company's registered office is Wisdom Hospice. High Bank. Rochester, Kent. ME1 2NU. The company's registration number is 08130595. The principal object of the charitable company is the relief of sickness by supporting the work of Wisdom Hospice Charty, formerly The Friends of the Wisdom Hospice, through community engagement and the donation of granls to Wisdom Hospice Charty from social enterprise activities in Medway and Swale. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on the public benefil when reviewing the charitable company's aims and objectives and in Ihe planning of future activities. Melhod ol appolntment or electlon of Trustees The management of the charitable company is the responsibility of the Trustees who are elected and co-opled under the tems of the Articles of Association. Pollcle8 adoptsd for the induction and training of Trusiees The charitable company is relying upon the guidance issued by the Charity Commission in relation to the induction and training of Trustees. Page 2
Docusign Envelope ID.. 813F879&5E1fW5>A2CD-14B686417187 Wlsdom Hosplce Support (A Company Llmfted by Guarantee) Truslees, report For the year ended 31 March 2025 OBJECTIVES AND ACTIVITIES Policles and objectives The charitable company meets its objectives by running social enterprises in the form of charity shops. As well as generating funds to support the work of the Wisdom Hospice. Ihe operation of the shops serves to bring the community together in terms of interaction between staff, volunteers, donors and customers. Strategles for achleving objectlves The Truslees believe that successful charity shops represent an importarrt component in Ihe overall effort to promote and support the Wisdom HosL)ice. and they will consider opportunities to expand the operalions of the charitable company as they arise. Activitie3 for achieving objectives The charity shops operated by th8 charitable company are run by a team of dedicated staff and volunteers and they strive to promote the importance of hospice Care in general and the work of the Wisdom Hospice in particular. Publlc beneflt The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the Chariiy Commission's general guidance on public benefit. Maln actlvllles undertaken to further the charily's purposes for Ihe public beneflt The Wisdom Hospice provides specialist palliative care and support to the aduli population of Medway and Swale. a population of over 400.000. These seNices are open and free to all members of the public, and they support patients both at the hospice and within their own homes. The group of which the charitable company is a member supports these services with an annual grant to the Wisdom Hospice which adds significantly lo the public benefit making facilities available which would otherwise not be possible on the NHS budget alone. All expenditure by the charitable company is reviewed against Ihe public benefit principles and the Trustees ensure these expenses represent an appropriate use of charilable funds. Volunteers The charitable company is grateful lor the unstinting efforts of ils volunteers who are involved in service provision. charty shops and fundraising. Volunteer numbers have been maintained throughout the year. The diverse skill set of our volunteers continues to add value to the charitable company's operalions. ACHIEVEMENTS AND PERFORMANCE Revlew of activltios The charitable company opened its first shop in Sittingbourne in Sepiember 2013, its second shop in Chatham in February 2017. ils third in Rochesler in July 2019 and its fourth opened in Sheerness in December 2022. In October 2024 a lifth store was opened near Rochester Airport which provides a new innovative shopping experience. Page 3
Docusign Envelope ID.. 8l3F879EIo44S&A2CD-l48686417l67 Wisdom Hospice Support {A Company Llmlted by Guarante•) Trusiees, report For the year ended 31 March 2025 Information on fundralslng practlces The chatitable company receives a variety of donations ol goods for sale in its shops and the Trustees are very grateful to the donors for their generosity. The charitable company regards its relationships with donors as highly important, and it looks to retain the support of its donors for many years to come. Shop staff and volunteers are trained to comply with best practices and procedures - particularfy in protecting individuals who may be in vulnerable circumstances. The approach is focussed on donors and customers and designed to ensure that they enjoy and benefit trom their engagement with the charitable company. The charitable company complies with the General Data Protection Regulation {GDPR) and followts the Information Commissioner's guides and code. Whilst it strives to perform to the highest standards in everything it does, it may not always get it right. Should a complaint be received. it will be fully investigated. and efforts will be made to correct any shortcomings highlighted. The Trustees recognise the importance of the reputation of the charitsble company in maintaining the trust and confidence of its donors and customers and this principle sits at the heart of all of its activilies. FINANCIAL REVIEW Overview of Ihe year The results for the financial year and prior year comparatives: 2025 £671,776 £53,320 £396,570 2024 £538,920 £61,335 £343,250 Total income Surplus FleseNes The opening of The Hangar, a new and innovative retail experience, in Rochester has had a positive impact on Ihe results for the year with £109.022 being added to the new book value of fixed assets from the Charity's accumulated funds being bought forward. The development of this project and luture projects will be carefully managed from the operating cash flow of Ihe Charily. This will in turn impact further donations to Wisdom Hospice Charily in the short term but the added income from the expansion to the retail operations will lead to the Charity's ability lo make increased donations in Ihe future. Progress and future donations to Wisdom Hospice Charity will be regularly considered by the Board of Directors. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the loreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in Ihe Accounting Policies. Financial risk management objectlves and pollcles The Trustees have a risk managemenl stralegy which comprises an annual review ol the principal risks and uncertainlies that the charitable company faces and the establishment of policies, systems and procedures to rnitigate these risks. Page 4
Docusign Énvelope ID: 813F879&5E10445&A2CD-14B686417167 Wisdorn Hospice Support (A Company Limited by Guarantee) Tru8tee8' report For the year ended 31 March 2025 Reserves pollcy The charitable company's unrestricted reserves as at 31 March 2025 were £396,570 (2024: £343,250). General funds are unrestricted or free reserves which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. The Trustees regard the level of unrestricted reserves in Ihe charitable company at 31 March 2025 as an appropriate minimum level taking into accounts our future plans and they anticipate that donations of grants in accordance with the charitable company's principal objective will generally be made of surplus funds generated above this level. In setting the minimum level of free reserves required the Truslees considered the risks set out in the Risk management section, below. The unrestricted reseNes after removing the value of tangible lixed assets as at the year-end were £206,376 (2024: £256,860). The Trustees consider this posilion to be acptable as the charitable company has the ongoing support of its parent undertaking. Risk management The Trustees have assessed the major risks to which the charitable company is exposed, in particular those related to Ihe operations and finances of the charitable company and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. The risks associated with the cost of living crisis were considered as part of the assessment. The Trustees consider the main risks to be as follows.. 1) The loss of the good reputation of The Wisdom Hospice or Wisdom Hospice Charty as a charity. which would affect the charitable company's abilty to encourage donations for sale in its shops. A change in current customer buying habits due to their re-evaluation of their need for second- handldonated goods. The reduction or removal ol rate relief from local councils. 2) 31 All risks are considered by the Board on a regular basis and efforts are made to mitigate any risks where p)ssible. PLANS FOR FUTURE PERIODS Future developments The charitable company will continue to run its charity shops in order to make donations of grarrts to Wisdom Hospice Charty. The charitable company will continue to look to expand Iheir retail operations across Medway and Swale. In March 2025 the second phase of the Hangar was acquired and opened in July 2025. This second phase, a Distribution Centre, will support the expansion in sales at all retail outlets across Medway and Swale this growth will include online platrorms such as eBay which will be developed in ils new bespoke studio al The Hangar. Page 5
Docusi9n Envelope ID.. 813F87g8-SE1(U5>A2cD-l48686417187 Wisdom Hospi Support (A Company Limited by Guarantee) Trusiees, report For the yoar andad 31 March 2025 STATEMENT OF TRUSTEES, RESPONSIBILrriES The Trustees (who are also directors of Wisdom Hospice Support for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless Ihey are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of Ihe charitable company for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting p)licies and then apply them consistently. observe the methods and principles in the Charities SORP. make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standard {FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements" prepare the financial statements on the going concern basis unless it is inappropriate to presume thal the charitable group will continue in operation. The Trustees are responsible for keeping adequate accounting records that are SLifficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosur• of Informatlon to audltor Each of Ihe persons who are Trustees at the lime when this Trustees. report is approved has confirmed that: so far as that Trustee is aware, there is no relevant audit information of which the charitable company's auditor is unaware, and that Trustee has taken all the steps that ought lo have been taken as a Trustee in order to be aware of any relevant audit information and lo establish that the charitable company's auditor is aware of thal information. This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. This report was approved by the Trustees on 3 September 2025 and signed on their behalf by: $1otttd by.. 9E1FEFE113034DS... T. P. Sillars Chairman to the Trustees Page 6
Docuslgn Envelope ID: 813F8798-SE10445342CD-14B686417107 Wisdom Hospic8 Support (A Company Llmited by Guarante8) Independent Auditor's Report to the Members of Wisdom Hosplce Support Opinion We have audited the financial statements of Wisdom Hospice Support (the 'charitable company'} for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepled Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2008. Basis for opinion We conducted our audit in accordance with International Slandards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial Statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard. and vft have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the Trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, y have not identified any material uncertainties relating to events or conditions Ihat. individually or collectively, may cast significant doubt on the charitable companrfs ability to continue as a going Concem for a period of at least twelve monlhs from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Page 7
Docusign Envelope ID: 813F879ME10445>A2CD_14B686417167 Wisdom Hospice Support (A Company Limited by Guarant•o) Independent Auditor's Report to the Members of Wisdom Hosplce Support leontlnued Other inforniation The other information comprises the infomiation included in the Annual Report other than the financial statements and our Auditorfs Report thereon. The Trustees are responsible for the other information contained vrithin the Annual Report. Our opinion on the financial statements does not cover the other infomiation and. except to the extent otheise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibilty is to read the other infomation and, in doing so, consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to detemiine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfonned, we conclude that there is a material mi5Statement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinlon on other matterJ prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infomiation given in the Trustees, Report for the financial year for which the financial ststements are prepared is consistent with the financial statements. the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit. V have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you rf, in our opinion: adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the a¢¢ounting records and returns. or certain disclosures of Truste8s' remuneration specified by law are not made" or we have not received all the infonnation and explanations V require for our audit; or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small compani8s' exemptions in preparing the Trustees, Report and from the requirement to prepare a Strategic Report. Page 8
Docusign Envelope ID.. 813F879&sE10445342C14B686417l67 Wisdom Hospice Support (A Company Llmited by Guarantee) Independent Auditorfs Report to the Members of Wisdom Hospice Support Icontlnued) Responslbllltles of trustees As explained more fully in the Trustees, Responsibilities Statement, the Trustees {who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial stalements and for being satisfied that they give a twe and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidat8 the charitable company or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilities for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditorfs Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misststement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influen the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed bebw: How the audit Was considered capable of detecting iffegulan"Èies, including frnud." Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows.. we identified the laws and regulations applicable to the company through discussions with managemenl, and from our commercial knowledge and experience in the sector: we focused on splfi¢ laws and regulations which we considered may have a direct material effect on the accounts or the operations of the charitable company, including the Charities Act 2011 and the Companies Act 2006; we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting correspondence; and identified laws and regulations We communicated within the audit team and the team remained alert lo instances of non-compliants throughout the audit. We assessed the susceptibility of the charitable company's accounts to material misststement, including obtaining an understanding of how fraud might occur, by. making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud,. and considering the intemal controls in pla¢e to mitigate risks of frdud and non-compliance with laws and regulalions. Page 9
Wisdom Hosplce Support (A Company Limited by Guarantee) Independent Auditorfs Report to the Members of Wlsdom Hospice Support (contlnued) To address the risk of fraud Ihrough management bias and override of Controls, we.. performed analytical procedures to identify any unusual or unexpected relationships. tested joumal entries to identify unusual transactions: assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting polici8s were indicative of potential bias- and invests'gated the rationale behind significant or unusual transactions. In r8sponse to the risk of iegUlar1tieS and non-compliance with laws and regulations, we designed proGedures which included, but were not limited to: agreeing financial statement disclosures to underlying supporling documentation. reading minutes of meetings of those charged with governan. and enquiring of management as to actual and potential litigation and claims. There are inherent limitations in our audil procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-wmpliance. Auditing standards also limit the audit Procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misststements that arise due to fraud Can be harder to detect than those that arise from error as they may involve d81ib8rate conc8alm8nt or collusion. A further description of our responsibilities for the audit of the financlal statements is located on the Financial Reporting Council's website al: www.frc.or .uklauditorsres nsibilities. Thls description forms part of our Auditorfs Report. Use of our report This report is made solely to the charitable companls members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state lo them in an Auditor's Report and for no other purpose. To the fullest èxtent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report. or for the opinions we have formed. &tHY Hakn Y Tracey Moore BFP ACA (Senior statutory audltor) for and on behaW of UHY Hacker Young Chartered Accountants statutory Auditors Thames House Roman Square Sittingboume Kent ME10 4BJ Date: 24 September 2025 Page 10
Docusign Envelopg ID.. 813F879&5E10445>A2CD-14B686417167 Wisdom Hospice Support (A Company Llmlted by Guarantee) statemont of financial activities (incorporating income and expenditure account) For the Year Ended 31 March 2025 Unrestrlcted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Other trading activities Other income 46.694 617,133 7,949 46,694 617,133 7,949 34.119 504,801 T•)tsl Income 671,776 671,776 538, 920 Expenditure on: Raising funds Charitable activities 618,456 618,456 427,585 Total •xpondltur• 618,456 618,456 477,585 Net movement In funds 53,320 53,320 61,335 Reconclllatlon of funds: Total funds brought forward Net movement in funds 343.250 53.320 343.250 53,320 281,915 61,335 Total funds Carrled foThvard 396,570 396,570 343,250 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 13 to 24 form part of these financial statements. Page 11
Docusign Envelo ID.. 813F8798-5E1W5WCD-14B686417167 Wisdom Hospice Support (A Company Limited by Guarantee) Reglstered number: 08130595 Balance Sheet As at 31 March 2025 2025 2024 Nots Flx¢d as•els Tangible assets Curront a$$¢ts 11 190.194 86,390 Debtors Cash at bank and in hand 12 75,939 170,341 28,406 252,036 246,280 280,442 Curront liabi1111o5 Crediiors: amounts falling due within one year 13 (39,904) (23,582) Not currant a68ets 206.376 256. 860 Total net assets 396,570 343, 250 Charlty funds Unrestricted funds 15 396.570 343,250 Totsl fund8 396,570 343,250 The Trustees acknowledge their responsibilities for complw.ng with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provision5 applicable to entities subject to the small companies regime. The financial ststements were approved and authorised for issue by the Trustees on 03 September 2025 and signed on their behalf by.. $vJfi¢d ty.. Shjned by. E1FEFE1134Ds... 85C283574NE64EE... T. P. Slllars Chairman to the Trustees N. C. Wright The notes on pages 13 to 24 fomi part of these financial statements. Page 12
Docuslgn Envelope ID.. 813F87sEltIs32CD-l48686417187 Wisdom Hospice Support (A Company Limited by Guarantee) Notes to the Flnanclal Ststements For the Year Ended 31 March 2025 General inforniation The charitable company is a company limited by guarantee (company number 08130595). The members of the charitable company are the trustees named on page 1. In the event of the company being wound up, the liabilty in respect of the guarantee is limited to £10 per member of th8 charitable company. The charitable company is also a registered charity, number 1155857. The charitable Company's registered office is Wisdom Hospice, High Bank, Rochester, Kent, ME12NU Accountlng policies 2.1 Basls of preparation of financial statsments The financial statements have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effedive 1 January 2022), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Wisdom Hospice Support meets the definition of a public benefit entty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless other¥vise stated in the relevant accounting policy. 2.2 Going concorn The financial statements have been prepared on a going concern basis. The Trustees have considered relevant infomiation, including the annual budget, forecast future cash flows and the impact of subsequent events, on the business in making their assessment. This analysis also considers the effectiveness of available measures to assist in mitigating the impact. More information can be found in the Trustees Report. Based on these assessments and having regard to the resources available to the entity, the Trustees have concluded there is no material uncertainty and that they can continue to adopt the going concem basis in preparing the annual report and accounts. Page 13
Docusign Envelope ID: 813F8798-sEl(44S3-A2CD-l48666417l67 Wisdom Hosplce Support (A Company Llmltsd by Guarantee) Notes to the Financial Statements For the Year Ended 31 March 2025 Accounting policies (continued 2.3 Income All income is recognised On the charitable company has entitlement to the income. it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specbfic purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received. the income is accrued. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the seprfice. On reIPt, donated professional services and facilities are recognised on the basis of the value of the gift to the charitsble company which is the amount tt would have bn willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Rental income is recognised on a $trdight4ine basis over the term of the lease, in accordance with the lease agreement. The charity recognises rental income when it is probable that the economic benefits from the lease will flow to the charity, the income can be measured reliably. 2A Cash flow The charitable company, being a subsidiary undertaking where 900/0 or more of the voting rights are controlled within the group whose consolidated financial statements are publicly available, is exempt from the requirement to draw up a cash flow statement in accordance viith FRS 102. 2.5 Expenditure Expenditure is recognised once there is a legal or construdive obligation to transfer economic benefrt to a third party, it is probable that a transfer of economic benefts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on raising funds includes all expenditure incurred by the charitable company to raise funds for its charitable purposes and includes ¢08ts of all fundraising activities events and non- charitable trading. Expenditure on Charrtable activities is incurred on directly undertaking the activities which further the charitable companVs objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.6 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company; this is normally upon notification of the interest paid or payable by the institLrtion with whom the funds are deposited. Page 14
Docusign Envelope ID.. 813F879&5E10445&A2CD.14B686417167 Wisdom Hospice Support (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 March 2025 Accounting policies {contlnued 2.7 Gift Aid In the case of a Gift Aid payment made within the Group. income is accrued when the payment is payable to the parent charitable company under a legal obligation. Measurement is at the fair value receivable, which will nonnally be the transaction value. Where the right to receive Gift Aid has been established, the amount receivable 1$ recognised as investment income in the Statement of Financial Activrties. 2.8 Tanglble flxed assets and d•prociation All assets are capf(alised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at COSt. After recognition, under the c05t model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impaimient losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tsnglb fixed assets less their residual value over their estimated useful lives using the straight-line method. Depreciation is provided on the following bases: Leasehold propety Fixtures and fittings Over the lease term 200/0 Straight line 2.9 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valu8d at the amount prepaid net of any trade discounts due. 2.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.11 Llabllltles and provlslons Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event. it is probable that a transfer of economic benefrt will be required in settlement, and the amount of the settlement can be eslimated reliably. Liabilities are rQgnised al the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or seTViC8S it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the lim8 value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflect5 the risks specific to the liability. The unwinding of the discount IS fecognised in the Statement of Financial Activities as 8 finance cost. Page 15
Docusign Envelope ID.. 813F87W5E11H45>A2CD-148886417167 Wisdom Hospice Support (A Company Limited by Guarantee) Notes to the Flnancial Ststsments For the Year Ended 31 March 2025 Accounting policies (continued) 2.12 Financial instruments The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instwments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.13 Operatlng leases Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term. 2.14 Pensions The charitable company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charbtable company to the fund in respect of the year. 2.15 Fund accountlng General funds are unrestricted funds vthich are available for use at the discretion of the Trustees in furtheran of the general objectives of the charitable company and whiGh have not been designated for other purposes. 2.16 Voluntsers The charitable company is grateful for the unstinting efforts of its volunteers who are invofved in service provision, charity shops and fundraising. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not induded in the financial statements. Critical accounting estimates and areas of judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are bdieved to be reasonable under the circumstances. Critical accounting estimates and assumptions.. The charitable company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual resutt5. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Useful economic lrfe of tan ible fixed assets Useful economic life is inline with the accounting policy. In setting these polices rnanagement will consider the industry average of the asset lrfe and the number of year they expect the asset to be in use. Page 16
Docjjslgn Envelope ID: 813F8798-5E1044s2CD.l48888417l67 Wisdom Hospice Support (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 March 2026 Income from donations and legacies Unrostricted funds 2025 Total funds 2025 Total funds 2024 Donatlons Donations and gift aid received Donations in kind 40,188 6,628 40,166 6,528 34,119 46,694 46,694 34,119 Total 2024 34,119 34,119 Income from other trading activities Income from non charitable trading activities Unrestrlcted funds 2025 Totsi funds 2025 Total funds 2024 Sales of donated items Rental income 601,070 16.063 601.070 16.063 504,801 617,133 617,133 504,801 Total 2024 504, 801 504,801 Unrestricted funds 2025 Total funds 2025 Tolal funds 2024 Insurance claims 7,949 7,949 Page 17
Docusign Envelope ID.. 813F879&5E104453-A2CD_14B686417167 Wisdom Hosplce Support (A Company Limitad by Guarantee) Notes to the Financial Statements For the Year Ended 31 March 2025 Expenditure on raising funds Fundraising trading expenses Unrestrict•d funds 2025 Total funds 2025 Total funds 2024 Rent Audit & accountancy stationery Subscriptions Rates Travel expenses Utilities Telephone and broadband Repairs and maintenance Recruitment General expenses staff training Insurance Consumables Refuse IT Bank charges Professional fees Van costs Wages and salaries National insurance Pension costs Depreciation 114,390 3,255 182 459 3,502 1,887 20,239 4,196 5,996 2,291 2,489 855 6,460 11,900 9,536 7,259 10,309 9,211 8,961 344,971 23,321 4,769 22,018 114,390 3,255 182 459 3,502 1,887 20,239 4,196 5,996 2,291 2,489 855 6,460 11,900 9,536 7,259 10,309 9,211 8,961 344,971 23,321 4,769 22,018 79, 833 7, 780 68 375 1, 966 3,081 25,265 2,561 3,389 1,911 854 357 5,164 7, 597 7,227 6,236 9,005 1,237 4,324 229,517 11,664 3,452 14, 722 618,456 618,456 427, 585 Page 18
Oocusign Envelope ID." 813F8M5E1O44A2C14B688417l67 Wisdom Hospice Support (A Company Limited by Guarantse} Notes lo the Financial Statements For the Year Ended 31 March 2025 Analysls of expendlture on charftable activities Summary by fund type Unrestrlcted funds 2025 Total 2025 Total 2024 Donation to The Friends of the Wisdom Hospice 50,000 Auditorfs remuneration 2025 2024 Fees payable to the charitable company's auditor for the audit of the charitable company's annual accounts 3,300 3.100 The charitable company has taken advantage of the exemption not to disclose amounts paid for non- audit services as these are disdosed in the consolidated accounts of the parent charitsble company. Staff costs 2025 2024 Wages and salaries Social security costs Contribution to defined contribution pension schemes 344,971 23,321 4,769 229.517 11,664 3,452 373,061 244,633 The average number of persons employed by the charitable company during the year was as follows: 2025 2024 Employees 18 12 No employee received remuneration amounting to more than £60,000 in either year. The Trustees. Head of Retail and Business Retail Developer are considered to be the key management personnel of the company. Total employee benefits (including social security contributions and employerfs pension contributions) paid to key management in the year totalled £91,918 (2023.. £40,500). Page 19
Docusign Envelope ID.. 8l3F87sEl1S342C1486864l7I67 Wlsdom Hospice Support (A Company Llmlted by Guarantee) Notes to the Financial Statements For the Year Ended 31 March 2025 10. Trustees, remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 31 Mah 2025, no Trustee expenses have been incurred (2024 - £NIL). 11. Tanglble flxed assets Leasehold Fixtures and costs fittings Total Cost At 1 April 2024 Additions 16.552 970 168.775 124.853 185.327 125,823 At 31 March 2025 17,522 293,628 311,150 Depreciation At 1 April 2024 Charge for the year 7,624 987 91,313 21,032 98.937 22,019 At 31 March 2025 8,611 112,345 120,956 Net book value At 31 Mah 2025 8.911 181,283 190,194 At 31 March 2024 8,928 77,462 86,390 12. Debtors 202S 2024 Amounts owed by group undertakings other debtors Prepayments and accrued income 35 27,531 48,373 4, 767 23, 639 75,939 28,406 Page 20
Docusign Envelope ID.. 813F8798-5E1(W153A2CD-14B686417167 Wlsdom Hosplce Support IA Company Limited by Guarantèe) Notes to the Financial Ststements For the Year Ended 31 March 2025 13, Creditors: Amounts falling due within ong year 2025 2024 Trade creditors other taxation and social security Other creditors A¢cruals and deferred income 11,938 5,397 6,001 16,568 5, 345 4, 854 4, 998 8, 385 39,904 23, 582 2025 2024 Resources deferred during the year 8.125 Deferred income relates to rental income received in advance. 14. Financial instruments 2025 2024 Financial assets Financial assets measured at fair value through income and expenditure 170,341 252,036 Financial assets measured at fair value through income and expenditure comprise cash at bank and in hand. Page 21
Docusign Envelope ID.. 813F87W5E10445U2CD.14B886417167 Wisdom Hospice Support (A Company Llmlted by Guarantee) Notes to the Financial Stat•m6nts For the Year Ended 31 March 2025 15. Statement of funds Stat•ment of funds - current year Balance at 31 March 2025 Balance at 1 Aprfl 2024 Incom• Expendlture Unrestricted funds General funds 343,250 671,776 (618,456) 396,570 Statement of funds - prlor year Balance at 31 Maroh 2024 Balance at 1 Apnl 2023 Income Expenditu Unrestricted funds General fvnds 281,915 538, 920 (477, 585) 343,250 16. Analysis of net assets between funds Anatysis of not assets between funds - current year Unrestricted funds 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year 190,194 246,280 (39,904) 190,194 246,280 (39,904) Total 396,570 396,570 Page 22
Docusign Envelope ID: 813F8798-5E11H453-A2CD_14B686417167 Wlsdom Hosplce Support (A Company Llmlted by Guarantse) Notes to the Financial Statements For the Year Ended 31 March 2025 16. Anatysis of net assets between funds (continued) Analysis of net assets between funds - prlor year Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 86,390 280,442 (23,582) 86,390 280,442 (23,582) Total 343,250 343, 250 17. Penslon commitments The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable by the Charitable company to the fund and amounted to £4,769 (2024: £3.452). Pension contributions of £959 {2024'. £748) were payable by the charitable company at 31 March 2025. 18. Operating lease commitments At 31 March 2025 the charitable company had commitments to make future minimum lease payments under non<ancellable operating leases as follows: 2025 2024 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 143,667 445,146 432,750 58,250 137,813 50,625 1,021,563 246,688 Page 23
Docuslgn Envelopè ID.. 813F8798-SE10445&A2CD.14B686417167 Wisdom Hospice Support (A Company Limited by Guarante•) Notes to the Flnanclal Statements For the Year Ended 31 March 2025 19. Related party transactions The controlling party is considered to be Wisdom Hospice Charity (formerly known as The Friends of the Wisdom Hospice Limited), a registered charity (number. 284894) in England and Wales, company number 01632714 as the member of the charitable company. The registered ofFice is Wisdom Hospice, High Bank, Rochester. Kent, ME12NU. The results of the company for the year ended 31 March 2025 are consolidated in the financi81 accounts of the parent charitable company and are available from Companies House. The only related party transactions were with the parent charitable company. As a subsidiary undertaking of Wisdom Hospice Charity the charitable company has taken advantage of the exemption in FRS 102 from disclosing transactions with the parent charitable company. 20. Controlling party The controlling paty is Considered to be Wisdom Hospice Chaiity, a regTStered charity (number.. 284894) in England and Wales, company number 01632714 as the member of the charitabte company. The registered office is Wisdom Hospice, High Bank, Rochester, Kent, ME1 2NU. This address can be contacted to obtain copies of the consolidated financial accounts. The principal actmty of the parent is to promote and provide support to the Wisdom Hospice. Page 24