St John's ospice Trustees. Report and Financial Statements For the year ended 31 March 2024 . si John's pice st John's Hospice North Lancashire and South Lakes is a charitable incorporated organisation registered in England with charity number 1157030 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Page Trustees, Annual Report Independent Auditors Report lo the Trustees 18 Consolidated Statement of Financial Activities 22 Charity Statement of Financial Activities 23 Consolidated Balance Sheet 24 Charity Balance Sheet 25 Group and Charlty Cash Flow Statements 26 Notes to the accounts 27 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 BACKGROUND TOTHE CHARITY st John's Hospice North Lancashire and South Lakes ('the Charity") was founded on 1 April 2014 as a charitable incorporated organisation {°CIO") and registered with the Charity Commisslon on 13 May 2014 with Charity Number 1157030. The CIO was formed to take over Ihe assets and undertakings of North Lancashire and Lakeland Conlinulng Care Trust, an unincorporated charity with charity number 510667 thal was founded in 1980 to establish a hospice for residents of North Lancashlre and the South Lakes. These assets and undertaklngs were Iransferred on 1 October 2014. The obJeclSves and Irading name of the new CIO are identlcal to Ihose of the unincorporated charily. which was removed from the Reglster of Charities. The Charity is known as St John's Hosplce ('Yhe Hospice"). The principal object of St John's Hosplce, whlch opened its doors to patients in December 1985, Is the rellef and care of persons of elther sex (wllhout regard to race or creed) who are suffering from any chronic or terminal illness orfrom anydlsabllllyordisease. These aims areachieved bylnpatlentcare, outpatientclinics, day hospice, domiclliary care and associated educatlonal inltiatives. The runnlng costs of th8 Hospic8 are met by dlscretlonary grants from the Lancashire and South Cumbria Integrated Care Board {ICB) and byfunds ralsed by the Charity supported by the remarkable generosity of the local community. The Hospice places great value on ils connectlons wilh a number of public sector and voluntary organisations thal Cooperate with it and at times provlde jolnt services. Our Vision Puttlng local patients and families at the heart of everything we do will 8nsur8 that on the journey towards the end of life and throughout bereavement. we provide the right care, in the right place. at the right lima. Love Care Supports Everybhing -.Tran.CLuiliby,,,. Hopesafetsy".. ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Our Values Care- We will provide first class care. delivered by competent, committed people who put the patlent at the heart of all we do Compasslon- We will treat 8veryone wlth respect. dlgnlty and empathy Collaboratlon - We will work with others to ensure that patients and families receive the best end of life care posslble Charlty - We wlll provlde care free of charge to patients and famllles and wlll connect with our local communities so that they continue to finance our present and our future Celebratlon We will celebrate the abilities of the people we care for, however limited they may be. When people are bereaved we wlll support them to celebrate the lives of people they have lost "St John's Hospice - Built by the people for the people" LEGAL STRUCTURE, GOVERNANCEAND MANAGEMENT The Charity's official name Is St John's Hosplce North Lancashire and South Lakes. though it Is better known as St John's Hospice. The Charity is a charitable incorporaled organisation governed by a Foundation Model Constitution dated 1 April 2014 under the t8rms of whlch the Trustees operate. Its charity registration number is 1157030. The Charity has 3 wholly owned subsidiaries. St John's Hospice Lan¢aster Limited (company number 7216444) was established to promote the sale of HospSce goods. St John's Hospice Shops Limited (company number 2490956) operates charily shops in the area selling donated goods and furniture. St John's Hospice Catering Limited (company numb8r 10911525> runs the café at the Hosplce and provldes event catering. Trustees Governance of the Charity is the responsibility of the Board of Trustees. Trustees who have served in office from 1 Aprll 2023 until the date of signing this report ar8 s8t out below. rs C Heginbotham {Chair} Mr R Gaskell Mrs S Smith (Vice-chalr) Ms F Inglis Ms A Bargh Mrs C Redhead Mrs E Bales Dr N Sayer Mr M Culllnan r J Sharples Mr K Essa Mrs F Ward (up until 19￿ September 2023) Ms H Fordham {appointed 6th December 2023) Dr J Yarnall ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 In accordance wlth the Constitution, new Truslees are appointed by the existing Trustees and for a term of four years by Board resolution. In selecting new Trustees, the existing Trustees have regard to the skills, knowledge and experience needed for the effective admlnistration of the Charity. On appointment new Trustees complete an induction programme Ihat includes familiarisalion with Ihe purposes and operations of the Charity, appreclalion of current issues and guidance on relevant policies. The Board ordinarily meets every three months and has an additional full day strategy meeting per annum to review the stralegy and operation of the Charily, including a rigorous review of the corporate risks affecting the Charity. Three regular sub-committees are in place to review specific areas ofactivity. These comprise Finance & Resources, Care, Quality&Services, and Fundraising & Communicalions. These sub-committees each meet every three months and report to Ihe full Board meetings. A Remuneration sub-committee meets al least annually. Trustees are encouraged lo lake an inleresl in individual areas of Hospice activity. Performance of Trustees is subject to an annual review by the Chair. Trustees also communicate wlth each olher and the Senior Management Team in the event that Gonsideration of any issue is required between Board andlor sub-committee meelSngs. Care, Quality & Services sub- committee Fundraising & Communications sub-commlttee Finance & Resources sub- commlttee Remuneration sub-committee Trustee Mrs C Heginbotham (Chair) Mrs S Smith (Vice-chairl Ms A Bargh Mrs E Bales Mr M Cullinan Mr K Essa Ms H Fordham (from 6.12.23) Mr R Gaskell Ms F Inglis Mrs C Redhead Dr N Sayer Mr J Sharples Mrs F Ward (to 19.09,231 Drj Yarnall Throughout this year, Covld-19 stlll affecled the Hospice. As healthcare organisalions emerged from Ihe pandemlc, it was a good lime to take stock and learn from Ihe unprecedented experience. Some of what we learned will be built into Ihe planned refurbishment and redevelopment ofthe site in the comlng years. For example, the ward needs fewer communal bays and more individual rooms in the evenl of a future outbreak. In thls year, the commissioning structure unde￿ent significant change wlth the mov8 away from Clinical Commissioning Groups al a hyper-local level to the formation for the Integrated Care board (ICB) which operates on a more regional footprint. To ensure the local Hospices. presence was felt, the formation of Ihe Lancashire & South Cumbria Hospice Alliance has been key. The CEO is the Chair of the Alliance and all members of the senior leam take an active part in its aclivities and programmes. The CEO also attends the North West Hospice Network Group, working closely wlth HosplGe UK, the national umbrella organisation representing Hospice care. ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 CHARlfl DETAILS Principal Offlce Sl John's Hospice, Slyne Road. Lancaster Bankers Barclays Bank plc, Markel Slreet, Lancaster Auditors MHA, Winckley Square, Preston Investment Managers Evelyn Partners, London Atomos Investments Limited, London Brewin Dolphin, Manchester OPERATIONAL MANAGEMENT The general operatlon of Hospice matters is devolved to the Senior Management Team whlch during the year comprised of Ms S McGraw (Chief Executlve Officer) Dr A Bacon {Medical DireGtor) Mrs M Bas5 (Director of Nursing and Quality) Mrs T Scotl {Director of Finance and Resources - part year) Mrs V Askham (Direcfor of Finance and ResourGes - part year) Mrs C BUtte￿orth (Director of InGome Generation) Mrs S Horner (Director of Marketing, Communications & Engagemenl). Th8 Senior Management Team reports to the Board of Trustees and attends regular meetings oflhe Board. Operational risk is managed through the Senior Management Team, with key reference to the Care, Quality and SeNices sub-committee. The Senior Management Team meets weekly. Payfor the Senlor Management Team is set by the Truslees having regard to thejob scorlng matrlx used throughout the Hospice to evaluate pay for all jobs and having regard lo market salary rate. ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 VOLUNTEER SUPPORT ATSTJOHN'S HOSPICE The Charlty Is h6avily dependent on, and very thankful for, the support it receives from volunteers. who work to support the operation of the Hosplce In a wlde varlety of ways, from helping to provlde dlrect care, .*-, r, SUPPOrting income generation by fundraising or working in the charity shops. serving as Trustees, or in a host of other capacities. During 2023124 it was pleasing to see the number of Volunteers continue to rise in roles across the breadth of hospice services. During 202312024 the number of volunteer hours in the hospice increased from around 64,000 hours to 78,000 hours. Thls would suggest an economic value of some £1,215k to the Charity when calculated uslng the average staff cost of the department In which the volunteer works compared to £942k last year. There are many more Informal volunleers who help out wlth numerous fundralsing and publlclly events. The value of this support is Incalculable but could easily double the value of the inpul of the more formal volunteers. OBJECTIVES AND ACTIVITIES INCLUDING PUBLIC BENEFIT The Charities Act 2011 requlres charities to report on the public benefit of thelr actlvlties. The Trustees have had regard to the Charlty Commission's guidance on public benefit and belleve that an appreciation of the Charlty's public benefit can be obtained from the followlng revlew of ils achievements and performance. ACHIEVEMENTS AND PERFORMANCE 202312024 There were a number of achlevemenls durlng 2023124. The most slgnificant being the development of a n8w 5-year slrategy. During the year the Hospice undertook a rigorous programme of public engagement and revlewed national, regional and local health and soclal care plans to ensure the new strategy took account of demographic, social and economic challenges, Our Vision & Strategy for 2024-2029 was the result of conversatlons wlth communlty. health and soclal care partners and volunteers and staff at the Hospice. It was clear from these conversations that Hosplce care In our community is valued, it is also clear that th8 price of providing increasingly costly servlces to more and more peopl& is potentially unsuslainable in the long-lerm and that Ihe challenges we face require a courageous response. We believe that a successful fulure for St John's demands a balance between stability and agility. Stability comes from the elhos of hospice care - what we are known for and the things we will not compromlse such as excellence, compassion and dlgnlty. However. we must also have the agillty to respond to n8W OPPOrtunlties in an innovative and progressive way, actively seeking out partnershlps. trying out new ideas and being creative and compelllng wilh our fundraising and communicalion messages. At the heart of the Strategic plan15 for the Hospice to continue to provide for the needs of those faclng life limiting illnesses In Ihe locality. The Vision and Strategy Identlfled the following four prioritles In support of that mlsslon. Develop and dellver 7-day. hlgh quality end of Ilfe care servlces wlth the professional competence and unique ethos that make us Outstandlng Be prepared to be Snnovalive, be creallve and grasp the opportunities that come our way Ensure we are the charity of choice for our local community ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Build on our financial, soclal and 8nvironmental suslainabilily Each priority has a number of Key Performance Indicators that will be monltored by the Board at the relevant sub- committee meeting. In addition to the new Strategic Plan, the Hospice produced a Quallty Account. A Quality Account is an annual report to Ihe publlc from providers of NHS healthcare about the quality of servlces they deliver. Desplte the fact that less than one Ihird of the care we provlde is funded by Ihe NHS, it Is still a statutory requirement to produce ona. The account must outline three key areas for Improvement in the coming year. In 2023124 our priorily areas were: Prlorlty 1- The formatlon of the Lancashlre and South Cumbrla Education Alliance (LSCEA) As part of the Lan¢ashlre and South Cumbria Hospice Alliance, an educatlon alllance has been formed to seek to understand the current education and research capabilities across our region and to present vision and buslness plan for shared Improvement and delivery. An Education and Research Strategy Board has been established and a key task is to develop a regional education strategy. Worklng together should result in improved education and better standards of care for all. The aims of the Educalion Alllance are to: Improve end-of-life quality of care through better training provislon for hospices and our external partners, in particular, the care home sector Enhance use of existing resources, skills, and expertise {cllnical and non-clinlcal) Provide more efficient and effective tralning and education for staff and volunteers Generate Income through training programmes, sludy sessSons, and conferences Priority 2- Investing in staff and volunteer well-being The health and wellbeing of the Hosplce team is paramounl. The Hospice continues to embed recenl actions and launch new initiatives so that health and wellbalng remalns a priority across the organisation. Thls meant inveslment in three distinct areas.. Llne manager tralnlng HR Poll¢les and Practices Wellbelng Prlorlty 3- Invest in in-house Clinical Educatlon Continuous professional development for Hospice clinical staff is key lo Ihe provision of good qualily palliative care. Feedback from our staff makes clear that professional development is an important aspect of effective recruilment and retention. ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A new nurse preceptorship programme was developed by the Inpatlenl Unit management team and was successful in pilot form in 2022123. This programme encourages newly qualified nurses to Join our team and undergo a perlod of inlense development in hospice care. This will now be availabla every other year as part of our commitment to 'growing our own, specialist slaff and as miligalion for ever-present heallhcare recruitmenl risk Followlng the success of, and feedback from, the in-house Registered Nurse Development Programme, we have embarked on delivering accredited Advanced Communication Skills Training to Hospice nursing staff and will look to extend this training to external slaff once we have a robust leam of trained Facili18tors in place. Bullding on the Nurse Development Programme, Ihe Hospice design6d a 2-day development programme for Health Care Assislants across the organisation. FINANCIAL REVIEW When we set the budgèt for Ihe current financial year we were very aware of the difficulties in trying to quantify the effect the public sector pay settlemenl would have on the finances of the Hospice along With the impacl of other external factors such as a significant increase in the national living wage, increases in utility costs and a feeling of auslerity within Ihe public. Whilsl we fully appreciate thal the Trustees have the ongoing objective of running balanced budgels year on year, we recognised Ihat this was a year when we might need lo draw on our reserves to fund anticipated shortfalls in income and increases in costs. This meant thal we budgeled to make a deficit of £483,184. Durlng the financial year we received £567,963 more legacy income than had been budgeted, we saw a significant increase against budget of in-memoriam income- largely due to the increase in numbers on the inpatient unil- and we realized some staffing savings due to delays in recruilment. As a result of this higher than expected income we have recorded consolldated net income of £257,629 before investment galns. and a surplus of £584,469 after Inveslment gains. Consolidated income for the year lotalled £7,741,210 with the local ICB providing £1,165.392 lo fund our core work and a further £887,891 to fund specific project initialives. The remaining £5.6M was generated from our loyal supporters, specific funding inltlatlves and our investments. Consolidated expenditure for Ihe year totalled £7,483,581. Expendlture on charilable activities totalled £5,513,956 of whlch 82 /0 was spent on staffing costs. The remaining £1,969,625 has been spent on raising funds. Consolidated net income for the year was £257,629 pre investmenl gains and olher losses, and a surplus of £584,469 after these adjustments. Our Snvestment portfolio saw realised gains of£31,897 on the sale of investments and unrealised gains of £294,943 on the revaluation of investments. Full details of Ihe Charity's financial position and of ils income and expendSture are sel out in the Statements of Financial Activities, Balance Sheets and related notes which form part of these financial slatements ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The continued uncertainly around the increased cosl of living and rising inflation has again meant that setting a budget for 202412025 has been challenglng as per previous years. Soaring costs, coupled with increases in the living and real living wage has been reflected in the deficit budget that has been set of £358,560 for the year whlch includes £186.977 of compelling projects. The Trustees are committed to uslng reserves lo fund this deficit and Ihe Senior Managemenl Team is working closely wllh the Board to generale new funding streams and manage costs in Ilne wlth anticipated future revenues. We afe indebted again to our granl funders who have supported us during Ihe financial year, many ofwhom have supported us In the past. All funds received have been spenl on the projects they were intended for. For those projects where grant fundlng has been received in advance bul the cosls have not yel been incurred, any grant monies received have been carried fO￿ard to the coming financial year. During the year ended 31 March 2024 we have received the following grants: Unconditionallcore fundin The Albert Hunt Trusl gave us an uncondltional grant which we used towards our nursing care costs. The Ambleside Welfare Trusl gave us an unconditional grant which we used towards community patient care. The Farrer Family Trust gave us an uncondltlonal grant which we used towards our communily nursing costs. The Michael Cornish Charitable Trust gave us an uncondltional grant which we used towards our core nursing costs. Mrs S K Wesl's Charitable Trust gave us an unconditional grant whlch we used towards patient care in our local community. The Sllverdale Gospel Hall Trust gave us an unconditional grant which we used towards our community nursing costs. Condltlonal fundin An anonymous donation from the Pappagallino Fund through Cumbria Communlly Foundation directly supported our St John's care of South Lakes patients in their own homes. The Break Ihe Mould grant programme offered in partnership with the Francis Scotl Trust and Cumbria Youth Alliance kindly funded Ihe launch of our Forgel me Not Cenlre's young people's Voice Group. The Benefact Trust gave us funding to develop and refurbish our Hosplce Chapel. Lancashire County Councll Local Members Grant scheme funding enabled us to purchase syringe drivers whSch are used within our communlly services team. Lancaster District Mobility Trust donaled funding towards our Hosplce at Home transport costs. Lakeland Disability Support kindly funded the purchase of an Arjo Sara Flex standing and raising ald for our in-palienl unil. Weslmorland and Furness Council funded our Forget me Not Cenlre Family Support and Bereavemenl Servlce and Ihe purchase of equipment for our in-patient unSt. The Skipton Building Society Charitable Foundalion kindly funded the purchase of a Rise and Recline specialist chair for our in patient unit. The Creative Heallh Trust kindly funded the purchase of memory making and craft materials for our Forgel me Not Centre. 10 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Elizabeth and Richard Wilson Charitable Trust gave us funding lo support children and young people through our Family Support and Bereavement Service. RISK MANAGEMENT The Truslees consider and assess on an on-golng basisthe major risks towhich Ihe Charity may be exposed. All risks identified are set out and monilored using the corporate risk register. Systems are in place to mitigate those risks. Where they are financial it is believed thal Ihe reserves policy and financial controls minimise the potential risks. In non-finanGial matters there are reviews, appraisals and regulatory procedures in place. By far the biggest risk to the Hospice currently is the long-term financlal 5UStalnabi1Sty of the charity. A 00/0 uplift from Ihe NHS, rising inflation, public sector industrial action and the pay awards this may lead to and the cost of living crisis all Impact on the financial health of the Hospice. Continuous moniloring of expenditure is now in place and the SMT meel weekly to oversee staffing and other costs rigorously. The Hospice's governance handbook has been reviewed by Ihe Chair of Trustees and the Chief Executive and a robust governance team ensures all policies and procedures are reviewed in a timely manner across the Hospice. Staff receive appropriate annual mandatory training covering health and safely issues such as fire safety. moving and handling, basic food hygiene, safeguarding, information confidenlSality and infeclion control. Along with all charitable organisations, Ihe Hospice has a number of regulators, the principal two being Ihe Charity Commisslon and the Caro Quality Commission (CQC). The Hospice complies with all Charity Commission requirements. The Care Quality Commission regularly inspects the operations ofthe Hospice, either through self- assessment or visils and their last routine unannounced inspection visit was in December 2023 when the Hospice was raled overall as"Good" with a rating of'oulstanding" for responsiveness. In particular, the inspectors highlighted the following: The Innovative hospice-organised senior advice line, wlth senior palliative medicine physicians available oul of hours to provid6 specialist palliative care advlce to GPS and senior hospital doctors withln Ihe locality. Clinical Nurse Speclallsts worklng lolntly with the most socially deprived GP Practices In the area. St John's Hospice's delivery of an award winning 8-week schools programme for children who had suffered loss. Close Partnerships e.g. wilh failh leaders, a local Universily, VOICE. health and social care colleagues 8tc. The visit of horses to Ihe inpatient garden area so a patient could seo his beloved animals. The good levels of maintenance and cleanliness in the areas they inspecled High rates of compllance and scores in audils e.g. 98.770/0 for cleanliness, 100 /0 for food tasting and 1000/0 for dementia care in the annual NHS Place audit Safe staffing levels for nursing and medical services to keep patients safe, provide the righl care and Irealmenl and person-centred care plans. Health promotion e.g. Day Therapy Groups, the Grief Cafe and signlficant investment Into ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 famlly support and bereavement servlces Positive patient and relative feedback about the quality of food offered and options for specific requirements, with support to eat and drink given by hospitality staff A caring Culture wilh staff reporting Ihe Hospice beSng a "fabulous place to work" and feeling 'very proud to work here" and a sense of "the hospice wrapping its arms around you" when staff needed extra support. The annual Data Security & Protection Toolkit was completed in line wlth the NHS'S deadline of the 30- June 20243. The Hospice produced a Quality account in line with the NHS'S deadline of the 301h June 2023. Serlous Incldonts There are no serious incldents to report. FUNDRAISING With less than one third of our fundlng being recelved from the ICB, fundraising Is an integral part of the work we do al the Hosplce to ensure that our services can continue to be provided free of charge. We are grateful for the supporl of the very many people and organlsations withln our communlty who raise funds on our behalf. We take our responsibilities towards fundralsing very seriously and are committed to ensuring that the standards we adopt for fundraising mlrror our vision and values treating everyone with care and compassion. The Director of Income Generation and the Director of Marketlng and Communications are responsible for devising and delivering the annual Income Generation, Communications and Engagement strategy. Income Generation fundraising activitles cover Individual giving Community and corporate fundralslng Fundralsing events organised by the Hospice Sourcing of grants Legacy fundraising Operation of a lottery S@Iling second hand goods through our charlty shops Operating a café withln the Hospi 12 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Operating a gift shop within tho Hospice The Trustees are ultimately responsible for our fundraising activity and so review and approve Ihe slrategy and budget each year. The Director of Income Generation reports to Ihe Board of Trustees through the quarterly Fundraising and Communications sub-commillee and at the full Board meetings on performance and any relevant issues. As well as fundraisers who are either employed by, or volunteer for, the Hospice we currently have arrangemenls with the following commercial participatorslprofessional fundraisers: rganisatlon ype Nature of relatlonshlp How we oversee and monltor thelrwork Furness Building Society ommercial particlpator Charity Affinity account ontract in place and regular monitoring and revlews. Integrated Promotions LtdlSEC Fundraising Professional undraiser Provision of canvassing services ontract in place. Licensed and regulated by Ihe Gambling ommission. Bound by the Code of Practice of the Fundraising Regulator. Regulartraining and updates for canvassers. Regularcommunication, feedback and meetings. uality monitoring. omplaints procedure in situ. Global dventure hallenges Commercial participator Providerofoverseas treks onlract in place. Regularcommunication, feedback and meetings. TOL Proteclion 6506. To ensure that we protect the public, including vulnerable people, from unreasonably intrusive or persistent fundraising approaches. and undue pressur8 to donate: We are registered with the Fundraising Regulator and committed to adhering lo all recognised standards in relation to our fundraising aclivity Staff ensure that all fundralsing actlvlty complles wllh Ihe Fundraising Regulator's Code of Fundraising Practice and the Fundralslng Promise Staff are trained in their responsibilities in relation to fundraislng regulatlon and leglslallon upon induction and periodically thereafter as requlred. Volunteers are also trained in compllance where necessary for their role In Ilne with GDPR and the Fundralslng Preference Service we promptly action any requests for removal from our malllng Ilsts by amendlng Iheir contact preferences. 13 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 We do not sell the data of any of our donors and supporters to any third parties under any circumstances We comply with all the fundraising requirements of the General Dala Protection Regulation We only use professional fundraising ag&n¢les who can demonstrate a track record of best practice in the sector and compliance with the Fundraising Regulator's code of conduct. In addltlon. we have a Risk Management Policy so as to minimise or. as far as it reasonably practicable, eliminate any risks to patlents. staff. volunleers, supporters, members of the public or the organisation's repulation in relation to our fundraising activity. Staff Identlfy and assess risks and put any necessary preventatlve controls in place. PLANS FOR THE FUTURE In the past 12 months, Trustees have conducted a skllls gap analysls of the Board and recrulted new Trustees with relevanl skills and knowledge that will support our strategic aims. Our three strategic prolects for the current year are: SJH @40 Refurblshment Project In the nexl 12 months, a project group will be formed to begln the refurblshment of our 40-year-old building. External expertise will be sought to project manage the refurbishment and the team and communlty will take part in an extensive engagement exerclse to conslder what needs to be Included to ensure our buildlng Is "fil for the future" Chapel Refurbishment and the Introductlon of a Sanctuary space Our Hospice Chapel has been al the centre of the building for 40 years and is part ofour heritage. However. as our community has changed in the past 40 years. Ihe Chapel has been used less and less. After Consultation with Ihe Parish Priest, our team and the multi-failh Lancaster "Communities Togetherf, forum, plans have been drawn to r6dev8lop the chapel to Include a small Cathollclchristlan Chapel whilst developing a larger, more Inclusive space that we have agreed will be accessible to all and will be called the Sanctuary. We have received grant funding for part of the work which wlll be undertaken In the next 12 monlhs. Building posltlve relatlonshlps wlth the ICB vla the Hosplce Collaborative In 2021. commlssSonlng arrangements changed as CCGS disbanded and ICBS formed. ICBS wlll work at scale across a much bigger patch covering the whole of Lancashire & South Cumbrla a population of 1.8mllllon people. The formation of the Hosplce collaborative has been fundamental to thSs new relatlonshlp. The CEO is on the Board of the new Integraled Care Partnershlp and is working closely with new members of the ICB Board to ensure Hospices are not forgotten during this period of fast-paced change. 14 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Reserves pollcy At 31 March 2024 the Hospice's reserves comprise.. - Total funds £15,688,438 Of which: Tangible fixed assets £5.153.917 Designated funds £5,452,307 Restricted income funds £7,704 Unallocated free reserve5 £5,074,510 The Hospice could not do what it does without Ils dedicated team of around 200 skilled and professional staff. The Hospice seeks to employ managers and staff that have bolh the necessary skills and experience and the right values and attitudes to provide its very speGlal service and it is their employmenl costs that make up the vast majority of the Hospice's running costs. Thls year with so much uncertainty the Trustees have remalned very mindful of the need lo maintain sufficient reserves to meel Ihe working capilal needs of the Charity, fund unexpected expenditure and shortfalls in income and lo allow appropriate and monitored servlce expansion. Furthermore, to ensur8 the financial security of the Charily no new service developments are introduced unless the Trustees are confidenl that they are both affordable and sustainable. In addllion, we always consider the revenue consequences ofany capital expenditure. The Trustees monitor Ihe level of reserves each quarter through the Flnance and Resources sub- commiltee and continuously review ils reseNes policy. Al the Board's Away Day on 14 October 2024, the Trustees agreed to maintain the policy of retaining unrestricted reserves {¢omprising unallocated free reserves and designated funds) to cover 12-18 months, full operating costs. Unallocated and designated reserves at 31 March 2024 amounted to £10,526.817 which represents 17 months, full operating costs. 15 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Investment pollcy The inveslmenl policy of the Charity is to ring fence monies held in respect of granls received in advance or required for known capital and major repair expenditure. Addltional funds are invested in equllles, gills, fixed inlerest and properly funds with the intention of covering future inflation in running costs. The Charily has a policy to maintain reserves for the purposes given abov8. The reserves are lo be invested for the long term in portfolios and financial instruments which the Trustees deem to represent an acceplable level of risk combined with the aim of providing a reasonable return on the funds. Invesfmenl criteria.. Capital preservation of adequate reserves for known and unforeseen shorter term needs Balance of reseNes invested with the potenlial ofgrowth above inflation over the longer term Assets where less than 100/0 of income are from one restricted assets (tobacco., gambling., pornography- alcohol., armaments) are regarded as acceptable. The investment policy and performance of funds against the policy is reviewed at each sub-committee meeting with Investment managers Instructed to carry out any recommended changes as to the investment instruments. The managers are instrucled to keep a balanced portfolio to spread the risk and maximise capltal growth wilhoutjeopardising revenue income. The Trustees are salisfied with the performance of the inveslment portfolio over the period. TRUSTEES, RESPONSIBILITIES Trustees, responslbllllles In rolatlon to the flnanclal statements The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with appllcable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requlres the Truslees to prepare flnancial statements for each financial year which give a Irue and fair view of the state of affairs of the Charity, and of the income and expenditure of the Charlty, for that period. In preparing these financial statements, the Trustees are requSred to.. select suitable accounting policies and then apply them consislently obseNe the melhods and principles in Ihe Charities SORP (FRS102) makejudgements and estimales that are reasonable and prudent slate whether applicable accounting standards hav8 been followed. subject to any material departures disclosed and explained in the financial statements prepare the financial slatements on the going concern basis unless il is inappropriate to presume that the Charily will continue in operation. 16 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees are responslble for keeplng proper accounting records that disclose with reasonable accuracy at any time the financSal posilion of the Charity and enable them to ensure that Ihe financial statements comply with the Charity's governing document, the Charities Act 2011, Ihe Statement of Recommended Practice.. Accounting and Reporting by Charities preparing the accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republlc of Ireland (FRS 1021 issued on 16 July 2014, the Financial Reporting Standard applicable in Ihe United Kingdom and Republic of Ireland (FRS102} and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. AUDITORS Following the merger of MHA Moore and Smalley with MHA, the group's independent auditor has now become MHA. A resolution lo reappoinl MHA as independent auditor will be proposed at the next Annual General Meeting. The Trustees Report was approved on 91,.1+ and was signed on behalf of the Trustees by.. C Heglnb tham Chair- Board of Truslees 17 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES FOR THE YEAR ENDED 31 MARCH 2024 Oplnlon We have audited the financial statements of St John's Hospice North Lancashire and Soulh Lakes {the 'parenl Charity,) and ils subsidiaries {Ihe 'group') for the year ended 31 March 2024 which comprise the consolidated statement of financlal actlvlties, the charity statement of flnancial activities, the consolidated balance sheet. tha ¢harlty balance sheet, the group and charity cash flow slatements and the notes lo the accounts, including a summary of significant accounllng policies. The financlal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, includlng Financial Reporting Standard 102 The Financial Reporting Slandard applicabl& in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounling Praclice). In our opinion the financial statements.. give a true and fair view of the state of the group's and parenl Charity's affairs as at 31 March 2024, and of the group's incoming resources and application of resources, includlng its income and expendlture, for the year then ended., have been Properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requiremenls of Ihe Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibllltles under those standards are further described in the Audltor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent Charity In accordance with the ethical requirements that are relevant to our audil of the flnancial statements in Ihe UK, including the FRC'S Elhical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to golng Goncern In auditing the financial statements. we have concluded that the trustees, use of the going concern basis of accounting in the preparation of Ihe financSal statements is appropriate. Based on the work we have performed, we have not identified any malerial uncertainlies relatlng to events or conditions that, individually or collectively, may cast significant doubl on the group and parent charily's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 18 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other Informatlon The other information comprises the information included in the trustees. annual report, other than the financial statements and our auditor's reporl thereon. The trustees are responsible for the other information containèd within the annual report. Our opinlon on the financial stalements does not cover the other information and, except to the extent otherwise explicltly stated In our report, we do not express any form ofassurance concluslon thereon. Our responsibility is to read the other Informallon and, in doing so, consider whether the other information is materially inconsistent with the financial slatemenls or our knowledge oblained in the course of the audit or othe￿iSe appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatemenls, we are required lo determine whether this gives rise lo a material misstatement in the financial statements themselves. If, based on the work we have performed, we Conclude that there is a material misstalemenl of this olher information, we are required to report that fact. We have nothing lo report in this regard. Matters on whlch we are requlred to report by exception We have nothing to report in respect of the following matters in relation to which the Charilie5 (Accounls and Reports) Regulations 2008 require us to report to you if, in our opinion: the information glven in the financlal statements is inconsistent in any material respect with the Trustees, report., or sufficient accounting records have not been kept- or the financial statements are not in agreement wilh the accounting records. or we have not received all the information and explanations we require for our audit. Responsibilities of Trustees As explained more fully in the Truslees, responsibilities statement, set out on page 16, the Trustees are responsible for the preparation of financial statements which give a true and fair view, and for such inlernal control as the Trustees determine is necessary to enable the preparation of financial statements Ihal are free from material misstatement, whether due to fraud or error. In preparing Ihe financial slalements, the Trustees are responsible for assessing the group's and parent Charity's ability to conlinue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless Ihe Trustees either intend to liquidate the group or Ihe parent Charily or lo cease operations, or have no realistic alternative but to do so. Audltor's responsibllitles for the audit of the financlal stalemenfs We have been appointed as auditor under section 151 of the Charities Acl 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whelher due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is nol a guaranlee Ihal an audil conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. 19 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2024 Irregularities, including fraud, are inslances of non-compliance wilh laws and regulalions. We design procedures in line with our responsibilities, outlined above, to delecl material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Auditing the risk of fraud in income, including through the lesling of the cut-off of income al the year end and sales transaclion testing to ensure income is complete in the financial statemenls and recognised in the correct accountlng perlod. Enquiries with the board about any known or suspected inslances of non-compliance wilh laws and regulatlons, including fraud., Challenglng assumptions and judgemenls made by the board in their significanl accountlng estimates., An evalualion of the charily's inlernal control environment- and An evaluation of the risk of management override of controls and subsequent lesting, including through testing journal entries and other adjuslmenls for appropriateness. Because of the inherent limitations of an audil, Ihere is a risk thal we will not delect all irregularities, including Ihose leading to a material misstatement in the financial statements or non-compliance wilh regulation. This risk Increases the more that compliance wSth a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to becomo aware of Instances of non-compliance. The risk Is also greater regarding irregularilies occurring due to fraud rather than error, as fraud involves intenlional concealment, forgery, collusion, omission or misrepresenlalion. As part of an audit in a¢¢ordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism Ihroughoul Ihe audit. We also.. Identify and assess Ihe risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate lo provSde a basis for our opinion. The risk of not detecting a malerial misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresenlalions, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but notforlhe purpose ofexpressing an opinion on the effectiveness of the group's Internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Ihe Trustees. Conclude on the approprialeness of the Trustees, use of Ihe going concern basis of accountlng and, based on Ihe audlt evldence oblained, whether a materlal uncertainty exists related lo events or conditions that may casl significant doubl on the group's or Charity's ability lo continue as a going concern. If we conclude that a material uncertainly exists, we are required to draw atlention in our auditor's report to the relaled disclosures in the financial statements or, if such disclosures are inadequate, lo modify our opinion. Our conclusions are based on Ihe audit evidence obtained up to the date of our audilor's report. However, future events or conditions may cause the group or parent Charity to cease lo conlinue as a going concern. 20 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and evenls in a manner that achieves fair presenlallon. Obtain sufficient appropriate audit evidence regarding the financial information of Ihe entities or business activities within the group lo express an opinion on the consolidated financial statements. We are responsible for the direclion, supeNision and performance of the group audit. We remain solely responsible for our audit oplnion. We communicate wilh Ihose charged with governance regarding, among olher malters, the planned scope and timing of the audit and significant audit findings, including any significanl deficiencies in inlernal control that we identify during our audit. Use of our report This report is made solelyio the Charily's Trustees, as a body. in accordance with Part4 ofthe Charities (Accounls and Reports) Regulations 2008. Our audit work has baen undertaken so that we might state to the Charity s Trustees those matters we are required to state lo them In an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the Charily's Trustees as a body, for our audit work, for this report. or for the opinions we have formed. MHA Chartered Accounlants and Statutory Auditor 14 Mannin Way Lancaster Business Park Lancaster LA13SW 11 n&eMILr 102Lr MHA is eligible for appoinlmenl as audilor of the group by virtue of its eligibility for appointment as audilor of a company under section 1212 of the Companies Acl 2006. 21 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restrlcted Total funds funds funds 2024 Total funds 2023 Income from: Donations and legacies Charitable activities Other tradlng activities Investments Cxher 2,451,551 2,236,478 2,638,367 186,936 25,814 2,451,551 2,236,478 2.840,431 186,936 25,814 1,838,097 2,130,087 2.561,405 111,748 10,247 202,064 Total 7,539,146 202,064 7,741,210 6,651,584 Expenditure on: Charltable actimties Raising funds 5,341,725 1,969,625 172,231 5.513,956 1,969,625 4.838,131 1.672,568 10 Total 7,311,350 172,231 7,483,581 6,510,699 Gainl(loss) on revaluation of investments 294,943 294,943 (210,088) Net incomel{expenditure) 522,739 29,833 552,572 (69,203) Transfer bebNeen funds 25 61,877 (61,877) Other recognlsed gainsl(losses) Gainslllosses) on disposal of investments 31,897 31,897 {71.687) Net movement In funds 616,513 (32,044) 584,469 (140,890) Reconciliation of funds: Total funds brought forward 15,064,221 39,748 15,103,969 15,244,859 Total funds carrlod forward 27 15,680,734 7,704 15,688.438 15,103,969 All income and expenditure derive from continuing activities. All gains and losses recognised in each period are included above. The notes on page 27 to 48 form part of these financial statements. 22 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restrlcted Total funds funds funds 2024 Total funds 2023 Income from: Donalions and legacies Charitable actimlies Olher trading actimties Inveslments Olher 2,451,551 2,236,478 1,454,871 186,810 113,417 2,451,551 2,236,478 1,656,935 186,810 113,417 1,838,097 2,130,087 1,605,485 111,748 78,135 202,064 Total 6,443,127 202,064 6,645,191 5,763,552 Expenditure on: Charitable activities Raising funds 5,333,018 968,821 172,231 5,505,249 968,821 4,831,171 736,236 Total 6,301,839 172,231 6,474,070 5,567,407 Gainl(loss) on revaluation of InveStn￿nIS 294,943 294,943 (210,088) Net Incomel{expendlture} 436,231 29,833 466,064 (13,943) Transfer bet￿een funds 25 61,877 {61,877) Other recognised gainsl(losses) Gainsl(losses) on disposal of Inveslments 31,897 31,897 (71,687} Net movement In funds 530,005 {32,044) 497,961 (85,630) Reconciliation of funds: Tolal funds brought forward 15.148,025 39,748 15,187,773 15,273,403 Total funds carrled forward 27 15,678,030 7,704 15,685,734 15,187,773 All income and expenditure derive from contlnuing activltles. All gains and losses recognised in each period are included above. The notes on page 27 to 48 form part of these financial stalements. 23 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Fixed assets Tangible assets Investments 15 16 5,153,917 4,405,150 5,191,181 4,067,558 9,559,067 9.258,739 Current assets stock Debtors Cash at bank and in hand Cash held wth investment managers 8,283 308,622 6,168,874 232,306 9,905 278,196 5,741,098 182,381 17 6,718,085 6,211,580 Creditors: amounts falling due wthin one year 18 (588,714) (366,350) Net current assets 6,129,371 5.845,230 Total assets less current Ilablllties 15.688,438 15,103,969 Net assets 15,688,438 15,103,969 Funds: Unrestricted funds Designated funds Restricted funds 23 23 25 10,228,427 5,452,307 7,704 9,983,914 5,080,307 39,748 Total funds 15.688,438 15,103,969 These accounls were approved by the Trustees and authori5ed for issue on .Ll) their behalf by: and are signed on C Hegln tha Chalr- Boar M Cullinan Chalrman - Flnance and Resources Commlttee of Truslees The notes on page 2710 48 form part of these financial stalements. 24 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES CHARITY BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Fixed assets Tangible assets Investments 15 16 5,117,604 4,475,153 5,163,127 4,137,561 9,592,757 9.300,688 Current assots Stock Debtors Cash al bank and in hand Cash held with investment managers 3,052 965,987 5,055,724 182,381 17 1,390,088 4,983,210 232,306 6,605,604 6,207,144 Creditors: amounts falling due ￿thIn one year 18 {512,627) (320,059) Net current assets 6,092,977 5,887,085 Total assets less current Ilabllltles 15,685,734 15.187,773 Not assets 15,685,734 15,187,773 Funds: Unrestricted funds Designaled funds Restrlcted funds 27 27 25 10,225,723 5.452,307 7.704 10,067,718 5.080,307 39,748 Total funds 15,685,734 15,187,773 their behalf by: C Hegin Chair- Board M Culllnan Chairman- Flnance and Resources Commlttee f Trustees The notes on page 27 to 48 form part of these financial statements. 25 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES GROUP AND CHARITY CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 Group 2024 Group 2023 Charlty 2024 Charity 2023 Cash generated In operating actlvities 381,472 1,661,423 (135,873) 1.303,023 Cashflows from Investlng activitles Investment income Purchase of fixed assets (including inveslmonts) Receipts from sale of fixed assets (includlng investments) 186,936 111,748 186.810 111,748 (2,941,688) {595,001) (2,924,507) (569,594) 2,850,981 429,090 2,850,981 429,090 Cash provlded byl(used in) Investlng activities 477,701 1,607,260 (22.589) 1,274,267 Increase in cash and cash equivalents in thè year 477,701 1,607,260 {22,589) 1,274,267 Cash and cash equivalenls brought forward 5,923,479 4,316,219 5,238,105 3,963,838 Cash and cash equlvalents carried forward 6,401,180 5.923.479 5,215,516 5,238,105 Reconclllation of net movoment In funds to net cashflow from operating actlvities Net movement in funds Loss {gain) on revdluation of investments Investment income received Depreciation and amortlsation (Increase)IDecrease in stock (Increase)IDecrease in debtors Increasel{Decrease} in creditors Increasel(Decrease) in deferred income 552,572 169,203) 466,064 (13.943) {294,943) 210,088 (294,943) 210,088 (186,936} (111,748) (186,810) (111,748) 117,219 101,925 108,297 98,362 1,622 254 3,052 (30,426) 1,622,513 (424,101) 219,160 (57,685) 192,009 3,204 (34,721) 559 1,230,907 134,162) {76,481) Net ¢ash generated in operating actlvlties 381,472 1.661.423 (135,873) 1,303,023 Components of cash and cash equivalents Cash at bank and in hand Cash held wth investment managers 6,168,874 232,306 5,741,098 182,381 4,983,210 232,306 5,055,724 182,381 6,401,180 5,923,479 5,215,516 5,238.105 The notes on page 27 to 48 form part of these financial stalemenls. 26 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policles Basls of accounting st John's Hospice North Lancashire and South Lakes is a charitable incorporated organl5ation (CIO) registered in Ihe United Kingdom. The address of Ihe CIO. the nature of ils operalions and its principal activities are all detailed in the Trustees, report of these financial stalements. The CIO conslilutes a public benefit entity as defined by FRS102. The financial stalements have been prepared in accordance with the Slatement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland (FRS 102} and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice. The financlal slat&ments have been prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the Charity. The financial statemenls have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the exlent required to provide a 'lrue and fair, view. This departure has involved following Accounting and Reporling by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102} issued on 16 July 2014 rather than the Accountlng and Reporting by Charities.. Statement of Recommended Practice effectlve from 1 April 2005 which has slnce been wSthdrawn. The significant accounting pollcles applied in the preparation of these flnanclal statements are sot out below. These policies have been consistently applled to all years presented unless otherwlse stated. Basis of consolldatlon The consolidated accounts of the group incorporate the accounts of Sl John's Hospice Norlh Lancashire and South Lakes {"the Charily") and ils three wholly owned subsidiary undertakings, Sl John's Hospice Shops Limited, St John's Hospice Lancaster Limited and St John's Hospice Catering Limited. The results of Ihese subsidiaries are consolidaled on a line by line basis. Income Income including donatlons and gSfts r&c8lvable is credited to the Statement of Financial Aclivities in the period in which it is receivable. Legacies are regarded as receivable once probate has been granted, there Is sufflclent evidence regarding the certainly of the receipt and there is a sufficiently reliable measurement of the amounl in accordance with the recognition criteria of the SORP. In practice this is rarely before the receipt of a letter advising of an intended payment or transfer. Interim receipts are treated as being receivable on receipt. Where legacies have been notified to the Charity, or the Charily is aware of granting of probate and the criteria for income recognition have not been met, then the legacy is Ireated as a contingent asset and disclosed if material in note 3. Funding received in advance including grants are Ireated as deferred income where the funding agency requires an ongoing service to be provided by expendilure in the future period to which the fundlng relates. 27 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting poll¢les (contlnued) Expendlture Expenditure is recognised on an accruals basis and has been classified under headings Ihat aggregate all costs related to Ihe category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties. it is probable thal the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is calegorised under the following headings: Expenditure on the provision of Hospice services and associated service costs Expenditure on raising funds Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Donated servlces and faclllties Donated seNices and facililies are recognised as Income when the Charlty has control over Ihe Item, any conditions associated with the donated item have been met, the receipt of economic benefit is probable and that economic benefit can be reliably measured. In accordance wilh SORP {FRS 102) no amounts are included in the financial statements for services donated by volunteers. On receipt, donated professional services and donaled facilities are recognised on the basis of the value of the gift to the Charity which is the amount the Charily would have been willing to pay to obtain services or facilities of equivalenl economic benefit on Ihe open market,. a corresponding amount is then recognised in expenditure on period of receipt. Flxed assets Fixed assets are Stated at cosl less depreciation. Potential capital items wilh a cost of less than £2,000 or ilems Ihat are deemed to have no value once in use by Ihe Hospice are expensed through the Statement of Financial Activities. Fixed assets are depreciated on a straight line basis over theSr anticipated useful lives. Freehold land and buildings Leasehold improvemenls Motor vehicles Fixtures and equipment 1010 per annum Over the course of the lease 25 % per annum 200/0 per annum Freehold land and buildlngs includes non-depreclable land, the cost of whlch is not considered material. Investments Investments are shown at their market valu6 on the date of the balance sheel. Gains and losses on disposal and revalualion of assets are charged or credited lo the Statemenl of Financial Activities. Investments in subsidiaries are held at cosl less amounts written off. 28 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Ac¢ountlng pollcles (contlnued) Stock Stocks consist ofshop items purchased for resale and are slated at the lower of cost and net realisable value. The Charity adopts a cost formula of FIFO. Debtors and creditors wlthln one year Debtors and credilors wilh no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impalrment are recognised in expenditure. Penslons The Hospice operales a defined contribution scheme. Contributions are charged in the Statement ofFinancial Activities as they become payable in accordance with the rules of Ihe schème. Certain eligible employees are members of the National Health Service Superannuation Scheme. Contributions to this are also charged in the Statement of Financial Activities as they become payable (see note 22). Fund accountlng Unrestricted funds - general funds are available for use at the dlscretion of the Trustees in furtherance of the general objectives of the Charity. Restricted funds - restricted funds arise where there is a donor imposed restriction on the use of the funds, or the funds have arisen in response lo an appeal for a specific purpose. Designaled funds- designated funds are unrestricted funds set aside by the Trustees for particular purposes. Transfers are made from Restricted to Unrestricted funds where the expenditure has been fully made In accordance wlth the objecls of the fund. Cash and cash equivalents Cash balances comprise amounts held on deposit with recognlsed banks and building societies. Operatlng leases Rentals applicable lo operating leases are charged lo the Stalemenl of Financial Activities over the period in which the cosl is incurred. Taxation The Charlty is exempt within the meaning of schedule 3 of the Charltles Acl 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition ofa charity for UK corporalion lax purposes. 29 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Ac¢ounling poll¢les (contlnued) Going concern The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exisl. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient wilh the level of reserves for the Charity lo be able lo continue as a going concern. Financlal Instruments The Charlty has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Seclion 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes pariy to contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial stalemenls, when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a not basls or to realise thè asset and settle the liability simultaneously. Basic financial assets Basic financlal assets, which Include debtors and cash and bank balances. are inltlally measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslitules a financing transaclion, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable wlthin one year are not amortised. Impairment of financial assets Financial assets are assessed for indicators of impairment al oach reporting end date. Financlal assets are impaired where Ihere is objectiv6 evidence Ihal, as a result of one or more evenls that occurred after the initial recognition of Ihe financial asset, Ihe estimated fulure cash flows have been affected. If an asset is impaired, the impairmenl loss is the difference between the carrying amount and the present value of the estimated Gash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in Ihe statement of comprehensive income. If Ihere is a decrease the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the currenl carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the stalement of comprehensive income. De-recognition of financial assets Financial assels are de-recognised only when the contraclual rights to the cash flows from Ihe asset expire or are setlled. or when the Charity transfers the financial asset and subslanlially all the risks and rewards of ownership lo anolher entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred lo another party that is able to sell the assel in its entirely lo an unrelated third party. 30 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (contlnued) ClassifiGalion of financial liabililies Financial liabilitSes and equity instruments are classified according lo the subslance of the contractual arrangements entered into. An equity instrument is any contract Ihal evidences a residual interest in the assets of the Charity after deducting all of its liabililies. Basic financial liabilities Basic financial liabilities, Including creditors, are Inltlally recognised at transaction price unless the arrangement constitutes a financing Iransaction, where the debt Instrument is measured at the present value of the fulure receipls discounted al a markel rato of interest. Financial liabilities classified as payable within one year are nol amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordlnary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognlsed initially al transaction price and subsequently measured at amortised cost uslng the effective interest method. De-recognifion of financial liabilities Financial liabilities are de-recognised when the Charity's contractual obligations expire or are discharged or cancelled. Judgements and key sources of estimatlon uncertainty In the application of the Charily's accounting policies, the Trustees are requirad to make judgements, estimates and assumptlons about the carrying amount of assets and liablllties that are not readily apparent from other sources. The estimates and assoclated assumptions are based on historical experience and other factors that are consldered to be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimale is revised where the revlsion affects only that period, or in the period of the revision and future periods where Ihe revision affecls both current and future periods. Key assumptlons, Judgements and estlmates In Ihe opinion of the Trustees, there have been no significant judgements (apart from those involving estimates) made in Iha process of applying the above accounting policies. There have been no key assumptions concerning future and other key sources of estimallon uncertainly at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. The Charity's key estimates are considered lo be depreciation charges which are explained In Ihe fixed asset policy on page 28. ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donatlons and legacles Unrestrlcted Restricted funds funds Total 2024 Total 2023 General donalions Gift aid Legacies 545,013 134,125 1,772,413 545,013 134,125 1,772,413 565.529 146.670 1.125,898 2,451,551 2,451,551 1,838,097 Certain gifts are received with a request Ihal the money be spent on specific items of equipmenl or for specific revenue purposes. The amounts so received are included in income and the cost ofthe relaled expenditure in the relèvant category of expenditure. It is the Trustees, policy to spend all such gifts for the purpose requested. At the period end, tho Trustees had been notlfied of legacies approximating £752,000 which do not meet the criteria for inclusion in these financial statements under SORP (FRS 102) which is further explained in the accounling policies on page 27. Legacy income of£12,500 in Ihe comparative period represented restricted income. All other income was unrestricted. Income from charitable actlvltles Unrestrlcted Restricted funds funds Total 2024 Total 2023 NHS core funding NHS specific projects Non-NHS income 1.165,392 887,891 183.195 1.165,392 887,891 183,195 1.167,070 812,298 150,719 2,236,478 2,236,478 2,130,087 Income from charilable activities is spent in accordance with the terms of the agreement or contract under which il is re¢elved. All income from charilable aclivilies in the comparative period was unreslricled. 32 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from other tradlng actlvities Unrestricted Re5trlcted funds funds Total 2024 Total 2023 Fundralslng events Conditional grants Lotlery Income Retail actimties Café income 572,871 572.871 202,064 455,986 1,360,254 249,256 716,764 146,570 417,892 1,130,316 149,863 202,064 455,986 1,360,254 249,256 2,638,367 202,064 2,840,431 2,561,405 Conditional grant income of £146.570 in the comparative period represented restricted income. All other income was unrestricted. Income from investments Unrestrlctod Restrlcted funds funds Total 2024 Total 2023 Bank and investment interest receivable Interest on Government securities and dividends received 100,324 100,324 26.866 86,612 86,612 84,882 186.936 186,936 111,748 All income from investments in the comparative period was unrestricted. Other Income Unrestricted Restrlcted funds funds Total 2024 Total 2023 Oiher incom8 25,814 25,814 10.247 25,814 25,814 10,247 All other income in the comparative period was unreslrlcted. 33 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from subsidlaries, trading actlvltles 2024 2023 St John's Hosplce Shops Limited (Company No. 02490956) Turnover Cost of sales 889,712 784,368 (573,836) {584,176) Gross profit 315,876 200,192 Administralion cosls other operaling income 1308,403) (274,080) 14,969 5,385 Operating (loss)Iprofit 22,442 (68,503) (Loss)Iprofit before charltable donatlon 22,442 (68,503) Assets Liabllitles 831,531 571,641 (847,727) (610,279) Share capital and reserves (16,196) (38,638) st John's Hospice Lancaster Llmlted (Company No. 07216444) Turnover Cost of sales 64,907 (28.850) 49,363 <28,319) Gross proflt 36.057 21,044 Adminlstralion costs {2,562) (1,665) Operatlng proflt 33,495 19,379 Profrt before charitable donatlon 33,495 19,379 Assets Liabilities 36,482 (2,986) 21,720 (2,340) Share capltal and reserves 33,496 19,380 34 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from subsldiaries trading actlvltles (continued) 2024 2023 st John's Hospice Shops Caterlng (Company No. 10911525) Turnover Cost of sales 249,256 149,863 {190,193) (125,324> Gross profitl(loss) 59.063 24,539 Administration costs Olher operating income (10.934) 1,821 (8,023) 1,022 Operating profrtl(loss} 49,950 17.538 Profitl(loss) before charitablè donatlon 49,950 17,538 Assets Liabllitles 448,333 190.311 {392,926) (184,854) Share capltal and reserves 55,407 5,457 The results presented above represent the results for the wholly owned subsidiaries for Ihe year to 31 March 2024. 35 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on charitable activitles Provlsion of Hospice Services Total 2024 Total 2023 Activity Staffing costs Non salary costs of employment Medical supplies, equipment and sermces costs Food and nulritlon Transport Premises Depreciation Profit on disposal of fixed assets Utilities Managemenl and professional costs Admin and support costs Education costs Audit fees 4,548,083 4,548,083 58,087 58.087 220,401 220,401 126,819 126,819 12,836 12,836 98,414 98.414 108,297 108,297 4,004,546 44,750 192,114 98.752 13,887 78,251 98,362 (4,000) 139,393 27,351 103,061 25,279 16,385 145,308 40,066 124,231 13,057 18,357 145,308 40,066 124,231 13,057 18,357 5,513,956 5,513,956 4,838,131 Of the above expenditure £172,231 (2023.. £102,211) is made against restricled income funds. All other expenditure was unrestricted. 10 Expendlture on ralslng funds Total 2024 Total 2023 Staffing costs Fundraising costs Lottery cosls Investment manager costs Shop purchases Transport Premis8S Depreclation Ulililies Rent Professional costs Admin and support other costs 1,258,197 128,099 117,786 26.009 28,850 67,093 12,615 8,922 68,779 139.771 13,923 14,649 84,932 891,517 173,479 104,476 19,125 28,319 98,909 12,089 3,563 85,180 142,835 6,180 13.863 93,033 1.969,625 1,672,568 All expendilure on raising funds was unrestricled in the current and prior year. 36 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Net {Income)lexpendlture 2024 2023 Net Income Is stated after chargingl{crediting): Depreciation Auditor's remuneration audit of the flnancial stalemenls olher non audit seNces 117.219 103,360 12,175 6,182 9,500 6,050 12 Analysis of staff costs and the cost of key management personnel Total staff costs were as follows: Total 2024 Total 2023 Wages and salaries Social security costs Pension costs 4,951,238 394,559 460,483 4,144,966 351.954 399,143 5,806,280 4,896.063 Excluding the costs of staff recharged, Ihe remuneration of employees who received employee benefits more than £60,000 is as follows.. 2024 2023 £90,000 - £100,000 The total amount of employee benefits received by key management personnel, as determined by the Charily, is £117,549 (2023: £112,973) during Ihe Current period. 37 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 12 Analysls of staff costs and the cost of key management personnel FOR THE YEAR ENDED 31 MARCH 2024 15 Tangible fixed assels {contlnued> Charity Land and Bulldings Motor Vehicles Fixtures & Equlpment Totals Cost At 1 April 2023 Additions Disposals Transfers 6.362,330 17.527 83,914 787,615 45,247 7,233,859 62,774 At 31 March 2024 6,379,857 83,914 832,862 7,296,633 Doproclatlon At 1 April 2023 Charge for the year Eliminaled on disposals At 31 March 2024 1,287,074 63,762 54,483 13,136 729,175 31,399 2,070,732 108,297 1,350,836 67.619 760,574 2,179,029 Net book value At 31 March 2024 5.029,021 16,295 72,288 5,117,604 At 1 April 2023 5,075,256 29,431 58,440 5.163.127 16 Fixed asset investments Group 2024 2023 Valuation Balance brought forward Acquisitions al cost Receipts for sale of investments Reallsed {losses)Igains on sale of investments Unrealised {losses)Igains on investments 4,067,558 4.347,152 2,861,734 431,271 (2,850,981) (429,090) 31,897 (71,687) 294,942 (210,088) Total investments 4,405,150 4,067,558 Total investments comprise the following type of investments: UK listed equilies and fixed interest securities (knrseas listed equities and fixed inter&st securitles Col F property fund and other property investments 2,004,369 1,925,761 475,020 2,083.369 1,453,059 531,130 4,405,150 4,067.558 40 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Fixed ass8t Investments (¢ontlnued> Charlty 2024 2023 Investment In subsldlary undertakings 2 shares in St John's Hospice Shops Limited 1 share in St John's Hospice Lancaster Limited 1 share in St John's Hosplce Catering Limiled 70,001 70,001 70,003 70.003 Olher investments at Valuatlon Balance brought forward Acquisitions at cost Receipts for sale of investments Realised gains on sale of investments Unrealised gainsl{losses) on investments 4,067,558 4,347.152 2,861,734 431,271 {2,850,981} (429,090) 31,897 (71,687) 294,942 210,088 4,405,150 4,067,558 Total Investments 4,475,153 4,137,561 Total investments comprise the following type of investments: UK listed equities and fixed Interest securltles (knrseas lisled equities and fixed interest securities COIF property fund and other property inveslments Investments in subsidiary undertakings 2,004,369 1,925,761 475,020 70,003 2,083.369 1,453,059 531,130 70,003 4,475,153 4,137,561 Sl John's Hospice Shops Limited, St John's Hospice Lancaster Limited and St John's HospSce Catering Limited are all wholly owned subsidiaries of the Charity. The principal activities of the former two companies are the operation of retail charity shops selling donated and new goods respectively, with the latter being the operation of a café and evenl catering. All exist to furlher the activities of St John's Hospice North Lancashire and South Lakes. 17 Debtors Group 2024 2023 Management debtors Prepayments VAT recoverable 151,247 101,058 56,317 196,632 32,809 48,755 308,622 278,196 41 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Debtors (contlnued) Charity 2024 2023 Management debtors Prepayments AnY)unts due from subsidiary undertakings VAT recoverable 151,247 67,806 1,142,801 28,234 196,632 4,935 739,581 24,839 1,390,088 965.987 18 Creditors: amounls falling due within one year Group 2024 2023 Management creditors Taxation and social security Accruals Lottery members Other creditors Deferred income (note 19> 61,996 96,784 221,224 33,528 27,396 147,786 37,572 86,793 121,027 30,814 65,952 24,192 588,714 366,350 Charlty 2024 2023 Management creditors Taxalion and social securily Accruals Amounts due to subsidiary undertakings Lottery members other creditors Deferred income Inole 19) 38,397 77,282 168,288 24,751 33,528 22,595 147,786 37,474 72,858 81,500 11,565 30,814 61,656 24,192 512,627 320,059 42 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Deferred Income 2024 2023 Balance brought forward Event and course fees received in advanGe Grants received in advance Release of deferred Income 24,192 100,673 28,655 13,242 114,890 10,950 (19,951) (100,673) 147,786 24,192 20 Commitments under operating leases 2024 Land and Buildings 2024 other 2023 Land and Buildings 2023 Other withln 1 yèar Within 2 to 5 years After more than 5 years 163,012 234,417 3,000 1,901 3,802 80,021 172,813 5,402 5,119 400,429 5,703 252,834 10,521 21 Capltal commllments There were no {2023'. £39,748) capital commitments at the balance sheet dale. 22 Penslon schemes The Hospice operates two pension schemes.. a) A defined contribution group personal pension scheme. Contributions to the scheme are charged in the Statement of Financial Activities when payable. b) For certain eligible employees a defined benefit pension scheme. The assets of the scheme are held separately by the National Heallh Service Superannuation Scheme. Contributions are charged in the Stalement of Financial Activities as they become payable. This pension scheme does not have a real pension fund but, as a slatulory scheme, benefits are fully guaranteed by the Governmenl. Contributions from both members and employers are paid lo the Exchequer which meets the cost of increasing benefils each year by the rate of inflation. Thls exlra cost Is not mel by contributions from scheme members and employers. As a result of the nature of Ihe penslon scheme Ihere are no separately identifiable assets and liabilities which can be idenlified as relating to St John's Hospice, therefore as permitted by FRS 102, the scheme has been accounted for as a defined contribulion scheme. 43 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Analysls of unrestrlcted funds: current year At1 Aprll 2023 Other recognised gains At31 March 2024 Income ExpendSture Transfers Unrostrlcted funds Designated funds General reserves 5,080,307 9,983,914 7,539,146 {7.311,350) 372,000 5,452,307 {310,123) 10,228,427 326,840 Total funds 15,064,221 7,539,146 (7,311,350) 326,840 61,877 15,680,734 The Trustees agreed on designated reserves In order to fund a number of items across Ihe Hospice.. £2,622,000 for the SJH@40 project. £1,500,000 lo facilitate the roll out of the 2024-29 strategic plan. £51,9151o upgrade IT equipment and progress IT led projects to Increase efficiency and productivily across th8 Hospice. £78,392 to invest in our staff in relation to trainlng, CPD, health and wellbeing. £500,000 to use as matched fundin9 when applying for bids in order to develop our Hospice. £500,000 for a legacies contingency reserve. 24 Analysis of unrestricled funds: prior year At1 Other recognised gains At31 March 2023 2022 Income Expendlture Transfers Unrestrlcted funds Designated funds General reserves 4.266,000 (335,693) 10,295,167 6,492,514 (6,072,795) 1,150,000 (281,775) (449,197) 5.080,307 9.983,914 Total funds 14,561,167 6,492,514 (6,408,488) (281,775) 700,803 15,064,221 44 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Analysis of unreslrlcted funds: prior year (continued> Al 31 March 2023, the Trustees had agreed on designated reserves in order to fund a number of items across the Hospice.. £200,000 lo upgrade the premises. The Hospice is now 37 years old and advanced maintenance is required. £2,000,000 to replace the roof. The roof is becomSng past ils useful life and needs a major repair or replacement. £51,915 to upgrade IT equipment and progress IT led projects to increase efficiency and productivity across the Hospice. £78,392 to invest in our staff in relalion to trainin9, CPD, health and wellbeing. £100,000 lo upgrade our electrics in order to reduce fulure eleclricily spend. £1.500,000 to use as matched funding when applying for bids in ord8r to develop our Hospice into its 40th year and beyond. £1,000,000 for a legacies equalisation reserve. £150,000 for the main electricity board in the hospice which requlres a major upgrade. 25 Analysls of restrlcted funds: current year At1 April 2023 At31 March 2024 Income Expendlture Transfers Restricted funds Fundraising grants Forget Me Not Centre 202,064 (172,231) (22,129) (39,748) 7,704 39,748 Total funds 39,748 202,064 (172,231) {61,877) 7,704 The restricted fundraising grants received were for the following purposes: staffing costs FAB Groups Nourish and Seasons for Growth FMNC groups and resources Equipment cosls Transport cosls Therapy materials Development of South Lakes Hospice @ Home The Forget Me Nol Cenlre balance of £39.748 was the balance of our generous donor who paid for the majorlty of the capltal bulld expenditure. The funding was split over 2020121 and 2021122 with the majority being in 2021122. Amounls were Iransferred lo unreslricted reserves in the year as a result of the bulld now beSng fully completed, with all final amounts being paid. The legacy received was that for the funding of items of necesslty for dlrect patient care. 45 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Analysls of restricted funds: prlor year At1 April 2022 At31 March 2023 Income Expendlture Transfers Restricted funds Fundraising granls Forget Me Not Centre NHSE funding 5,281 678,411 146,570 (89,711) (62,140} (638,663) 39,748 12,500 (12,500) Total funds 683.692 159,070 (102,211) (700,803) 39,748 The restricled fundraising grants received were for internal furniture, TV equlpmenl. children's books and exlernal garden furniture and plants. The Forget Me Not Centre balance of £39.748 was the balance of our generous donor who paid for the majority of the capital build expenditure. The funding was splil over 2020121 and 2021122 with the majority being in 2021122. Amounls were transferred to unrestricted reserves in the year as a result of the build being completed, with the remaining funds relating to costs withheld until after the year end. The legacy received was Ihat for the funding of items of necessity for direct patient care. 46 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2024 27 Analysls of net assets between funds: current year Group Tangible & intangible fixed assets Fixed asset Net currènt Long term Investments assets liabilitles Total Unre5trlcted funds Designated funds General funds Restricted funds Fundraising grants Forget me not centre 5,452,307 669,360 5,452,307 10,228,427 5,153,917 4,405,150 7,704 7.704 Total funds 5,153,917 4,405,150 6,129,371 15,688,438 Charlty Tanglble fixed assets Flxed asset Net current Long term Investments assets liabilities Total Unrestrlcted funds Designated funds General funds Restrlcted funds Fundraising grants Forget me not cenlre 5,452,307 632,966 5,452,307 10,225,723 5.117.604 4.475.153 7,704 7,704 Total funds 5,117,604 4,475,153 6,092,977 15,685.734 47 ST JOHN'S HOSPICE NORTH LANCASHIRE AND SOUTH LAKES NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 28 Analysls of nel assets between funds: prlor year Group Tanglble & intanglbl8 fixed assets Flxed asset Net current Long term Investments assets liabilities Total Unrestrlcted funds Designated funds General funds Restricted funds Fundraising grants Forget me nol centre 5,080.307 725,175 5,080,307 9,983,914 5.191.181 4,067.558 39,748 39,748 Total funds 5,191,181 4,067,558 5,845,230 15.103,969 Charity Tanglble fixed assets Fixed asset Nel current Investments assets Long term liabilities Total Unrestrlcted funds Designaled funds General funds Restricted funds Fundraising grants Forget me not centre 5.080,307 767,030 5,080,307 10,067.718 5,163,127 4,137,561 39,748 39,748 Total funds 5,163,127 4,137,561 5,887,085 15,187,773 48