Registered number. 09832765 Charity numbor. 1166S79 PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED IA company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 AEIRSJ42 0310W25 COMPANIES HOUSE
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PRISCILLA BACON NORFOLK HOSPICE CARE UMITED IA wnpany limlted by guarantse) COKTEPs Page Refvrnncg and admlnlstratlv• dolalls of the Charfty. Its Trustots and advlsers Trustees. report Independent auditorn. report on the financial sLitements Consolidatsd statement of financial activities 9-12 13 Consolidated balance sheet 14 Charity balanee sheet Consolidatod statement of cash flows 16 Notes to the financlal statomonts 17-35
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A Company limitsd by guarantso) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARiff. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCT08ER 2024 Tru8tee8 Bacon Charfes Barratt {resigned 31 Decnber 2023) Andrew Bames Kn"5ts"an 8owtes MBE Robert Carter Iwgned 31 tmber 20231 Anna Dugdale Pelef Joyner lain Mawson (reggned 31 De¢ember 2023) Mark Proctor (app)Inted 1 January 2024} Linda RoiErts lapFointed 1 January 20241 Jun Ripman lapFointed 26 March 2024} Philip Gom)ley lapp)inted 24 September 20241 Company registered number 09832765 Charlty registered number 1166579 Registered offi Priscilla Bacon Lojgg Century Pla Cdney Nwch NOrfk NR4 7YA Commercial Dir•ctor Feam "nOrth Independenl auditors Larking Grmen LLP Chartered Accountsnls 1s1 Floor ProspKt Fk)use Rouen Road Norwich NR1 1RE Bank•rs National Westrninster Bank PLC 36 St Andrew Squ*e Edinburgh United Kingth EH2 2YB Sollcltors Leathes Prior 74 The Close Nonwich NR14DR Page 1
PRISCILLA BACON NORFOLK HOSPICE CARE UMITED IA company limited by guarnnteel TRUSTEES. REPORT FOR THE YEAR ENDED 31 OCTOBER 2024 Chairman'8 Introductlon As Chaiman of PrisrAlla Bxon Norfolk How1 Care Limil8J. I prOj lo present this yearfs audit repJrt, which highlights the sgnificanl prc<Jress and achievements have made in jing palliative care in Nortolk. This has teen a year of remathable devdcynent, and l am deeply grateful for the continued dedication of our staff. volunteers. and supporters in makn'ng this progress possible. A key fcws this year has been on reinforcing our internal structure lo support the future grcmth and sustainability of the Charity. l am pleased to reKK)rt that have successfully reo¥uiled key personnd wth expertise in events and marketing. Moreover, we have undergone a strategic restructuring of our fundraisng team to enhanee effiuency, wth dearer roles and responybilits.es that are better aligned our Strateg ob1Ve$. One of the most Significant mileslones this year has been the ongoirwJ development and operation of the new Priscilla Bacon Lcdge. remains at the heart of our mion. Our collaboration with Norfolk Community Health and Care NHS Trust INCHCI has strengthened further, leadirvJ to improved sel¢e delivery and enhanced patient care through regular ioinl initiative5 and shared objectives. We have also gjccessfully laurKhed and exparded ijur Bereavement Service, which now provides structured &week group courses, one-orH)ne counsellirtg, and monthly drop-in sessons. The feedback from families and individuals usirg these Servi has been overnthelmingly postive, underscoring the imwrtance of emotional and mental wdl4ing supwrt in their time of need. We have alfA) recfuiled four sludenl (x)unsellors lo help ensure the sustsinability of this sefvice moving foard. Our Music Therapy Service has been introduced as a key componI of our hdistic care approxh. and l am Fleased to report that it has been warnily received by patients and families. Tailored mu&c sessions have provided comfort and emotional reliel, and our therapisl is n¢)w working with both inth"viduals and groups. We are also in the prccess of reinlroducing Complementary Therapy at Priscilla Bacon Lodge, which will provide further support to patients and families through holistic care. In a(klilion to the developmerrt of services. we have m ggnificant improvements lo our facilitie& The Outdo Sp at Prisulla Bacon Lodge have been enhancd. creating a more welcoming and therapeutic environment for all who visrt. LandsCang projects. new sealing area5, arKI increased accessbility features have transformed our grounds into a peaceful and supw)rtrve setting for patients. families, and visitors alike. I am also pleased to report that the design and constnjction of the Bereavement Building is prc4resgng well, with final interior elements Currently b"n9 completed. This deduted spxe will provide a private, supportive environment for our bereavement services, heln9 us offer even mfft ¢paOnate car8. Through the slrategic use of Continuing Healthcare funding mcJ&ls. the bed occupancy has been increased to 24 al Prisolla Bacon Lodge. This eXpaOn has allchved more patients lo te admitted while ensuring that the quality of care remains high. This year we have maje gnificant strides in refining our brand identity and enhanarvj our communications. New matheling collateral has teen develcped. includiThJ hureS and digital asse15, to better engage our stakeholders., while our rede5uned website and irKreased focus on social media engagement have expanded our reach and helped us conrol th the wider MMunity more effectrvdy. None of this wcwld have been FX)wble thOut the continued generosity of our SUPFlJrters, the dedicatTron of our incredible staff and volunteers, and the strateg partnerships have buill over Ihe years. We believe the strengthening of our partnerships has maximised the capaaty and the financial sustainability of the Charity. I am confident that these achievements wtion us well for the future, and VE remain dPIY committed to our mission of providing excepts.onal care and sUrt to those vkno rbe&J il most. As we look lo the year aheJ. V•E will continue lo build on this momenlum, enhancing our servIs. expanding our capacrty, arKI strengthening our relationships wilh our partners. Together, we will ensure that the Charity mains a beacon of compawonate Ca for the peLWe of Norfolk. Page 2
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A company limited by guarantee) TRUSTEES. REPORT {cOl1NUED FOR THE YEAR ENDED 31 OCTOBER 2024 The Trustees present their annual rep)rt towher vlith the finanryal stalements of Priscilla Baeon Norfolk Hospi Care Limited for the period 1 November 2023 to 31 October 2024. The Trustees confim that the Annual Report and financial statements of Ihe Charity Comp vAth the current alulory requirements. the requirements of the Charity's goveming dctument and the provisions of the Slalement of Recommended Practice ISORPI, aFpliCae to charities prepariThJ their accounts in ardan with the Financial Reports"ng Standard appliCae in the UK arKI Republic of Ireland IFRS 102). Since the Charity qualrfies as a smaN charitable company un¢Jer sectK&n 383 of the Companies Act 2006. the strategic report requiied of medium and large companies untsr The Companies Act 20L6 (Strategic Repyt and Directors, Report) Regulations 2013 is not required. REFERENCE AND ADMINISTRATIVE INFORMATION PrI111a Bawl Norfolk Hospice co Limited is a charitsble wnpany limited by guarantee. was incorporated th Companies House on 20 October 2015 the company registration number 09832785. and registered with the Charity Commisgon on 18 April 2016 under Charity number 1166579. The principal otiecl of the Charity can be summ•sed as Pr¢0ting the rdief of persons ore suffering from any chronic or temiinal illness or any disability or disease attributable to old age or frcrfn any other physical or mental infirmity, disability or diseasg arxl of the families of such persons by improving the provision of specialisl palliative services and end of life ca_ STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Charity 1$ govemed by its Memorandum and Artides of A59xiation dated 20 October 2015, as amended by a Written Rewlution passed on 3 February 221. Members. Llabillty The Members of the Charity guafantee to contribute an amount rN)t exceeding £10 to the assets of the Charty in the event of winding up. Organi$ational management The Dir10[S, as trustees of the Ch¥ity. ale legalty respOn9b for the overall management and control of the Charity and meet regularty. All Board members undertake an active role in suprx)rting the aims of the Charity and meet wlh the maftagenI team on a bags to prcsress the V•X)rk of the Cthty. The daY-tdaY wnning of the Charity is delegaled to the Cunmercial Director vkno, in lum, is supported by fundraisers and an opeialional team. The Commercial Director attends all Board meetings and provides updates to Trustees on a basis. Priscilla Bacon Norfolk Hospice Cwe Lyniled has a subs¢diary, Prisalla Bacon Retail Limited IPBRI. The Directors of PBR include of the Charity's Twstees, Anna Dugjale and Philip Gomiley. Alan Kent and Diane Malone are also DirecloTS of PBR. The Charity has also created a strong volunteer following and volunteer support a5SiSts the running of our café, conferen¢ing and gardens offering at Prisolla Bacon Lodge and helps wth the delivery of our fundraigng aclivilies. Volunteers also gjpport the shops OFerd by P8R. We are very grateful for all the contribuliorts our volvnleets make. Page 3
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 OCTOBER 2024 Recruitment, Induction and training of Tru¥le New trustees are appointed al a meetirvj of the Board. Trustee aFP)intrnents are conshlered on the ba&s of skill sets arKI experience to ensure there is o balanced mefflbership with an apFwpriate range of skills and expertise. The Chaim)8n indLKls trustees and explans the Chty5 Fdicies and prc¢edures. The Ccffimercial Director ensures Ihat Iruslee$ are kepl up to date with Charity Ccmnmission guida and other regulatory changes. Other relationships Priscilla Bacc Support Group {PBSG) is currenlly in the process of winding up as a charity having resolved to merge with Priscilla Bacon Ntyfolk Hospice Care Limited. As part of this merger the majorsty of their fund5 were IransferTed across lo the Charity in this finarrial year and the final balance will be remitted in due course. We VK)uld like lo express our deep thanks to the Trustees of PBSG for their past generosity lo, and support of, the capital campaign. We have gained a great deal fr<m our M)ring together and our intention is to ensure the ethos of PBSG 1$ continued The Charity has developed a range of tiOnShIpS and partnerships wth organisations delivering or suworting the provision of speaalist palliative and eThJ of life care in Ncrfolk. In lemis of our relationship with the NHS, the Charty woths most closely with NCHC. the Ic1 health care trust 0ratIng Prisalla Bacon Lodge. More widely. the Charity has actively engaged with Norfolk and Norwich UnKvergty Hospitsls NHS Foundation Trust INNUHI and many other organisats.ons and charities in Norfolk and Waveney. The Palliative Care Central Provider Collaborative was created betsw NCHC. NNUH and the Charity. The the providers are reSponsie for delivering the majority of palliative re servIs. This collaborative will ensure all parkn.es will work together to aChve agreed outcornes for N(wtolk atizens. We have a relationship wth NHS Norfolk arKI Waverw Integrated Care Board (ICBI to ensure we are ali9ned and informed of the wider vision for palliative care in the lOn. ICB'S plans arKI buys I11care services for the local population. The organisation rS with l(xal people. health and care wofessionals and partner organisalions to improve the heallh arKI ellbeing of its Fowlation. Risk Manag¢m•nt The Trustees are responsible the management of the risks faced by Prisulla Bacon Norfolk Hospi Care Limited. They regularly assess the major risks to the Charity 1$ exposed. and they aft satisfied that system5 are in place to manwJe all identffied risks. The principal risks to the Charity are rC*ded on a Risk Register coveriThJ govemance, operational. finarKial, environmental, extemal and com lance matters. The Risk Register is reviewed al Fin8nce, Audit and Risk Committee meetings as 11 as at Board of Trustees meetings. The key aa$ of risk management include financial management. bUnesS contsnuity. people and reputab'on. OBJECTS. AIMS. OBJECTIVES AND ACTIVITIES Public Benefft The members of the Board have referred to the guidan contained in the Charity Comrnission'$ general guidance on public tEnefit when reviewing ils policies arxl objeclives and in planning future activities. In particular, the members of the Board consider hcA¥ plned xtivities will contribute to the policies and objectives set. Page 4
PRISCILLA BACON NORFOLK HOSPICE CARE UMITED (A company limit by guarnntsel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Policies and Obje¢tiv6s The Charity's misson is to in collat)ration aThJ cdlectNely with the NCHC to provide sUPPOrt and personalised care for people living with. and those affe¢bJ by, death. tying. and tereavemenl across Norfolk and Waveney. ACHIEVEMENTS AND PERFORPAANCE Key flnan¢ial perfommnce indicatorn The Charity has implemented controls to mrffirftor firbanual perfomance, which are reviewed by the Finance. Audit and Rtsk cmIttee prior lo scrutiry by the Board of Trust&s al ils meeting5. Control procedures, summarised in a Financial Systems and Controls Policy, indude budgeting and cash flow forecasting at)d the Directors of PBR also receive a weekly review of the perfOan of each of the shop5 and of the online platfoms. Review of Activiti•8 Recrultment and restructure of teams Significant prtsjress has been mJe in strengthening our furKlraiyng team lo support futu gThAh and sustainability. We have successfully recruited key Fersonnel with expertise in donor relations, grant applications. and corForate partnerships. Additionally, the team has been restructured to enharKe efficiency. with clearer roles and iesponsibilities engJring better alignmenl with our strategic 0.ectIves. Relationship building and collal>oralion with NCHC Our ongoing CollaratIon wth NCHC has strengthened partnerships and improved service delivery. Regular meetings and joint initiatives have been established lo ensure SelesS integration and shared objectives. This collaboration has led to enhanced patient care and resource sknng OFP)rtunits. D¢v¢lopm•nl of brand, eollatsral. and digitsl ¢ont•nl We have made signifK2nt strides in refining our identity. ensuring consistency xross all communicalions. New marketing collateral. including bThures and digital assets, has ten developed lo better engage stskeholdefs. A(klilionally. our digilal presence has been enhanc1 wth a redeygned website and an increased focus on social media engagement. Launch of B•rèavement Seryk• Our Bereavement Serviee has been e$S[vIlY introducaj, providing e$5ents"al support to families and individuals experiencing loss. The Serviee now offers structured 8-week group courses, one-on-one counselling, and monthly drcpin 5es5ion& Initial feedbad( has been overwhglmingly p05ttive, highlighting the Service's irnpact on mental welleing and emotional SUPFKJrt. Launch of Mu81¢ Therapy Service Our Music Therapy servi has been launched as a key componenl of our holistic care approach. This initiative has ten well received by patients and families. providing mnfort and emotsonal relief through tailored music sessions. Our Irwned therapist is now Vh)rking wilh irtdividuals arKI groups, enhanung patient experiences and well-being. Increased onhanc•mont of the grounds Page 5
PRISCILLA BACON NORFOLK HOSPICE CARE LIIAITED IA company limited by guarantee TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Efforts to improve cyJr outdoor spaces have continued. creating a more welcoming and therapeutic environment. Landscaping proÈects. additional seatiNJ areas, and improved xcessibility fealures have been im ernented. These enhancernents have conlribLrted to a more plu1 settiThJ for patients, families. and visitors. Design and nstrU10n of the Bere•vement Bullding The Bereavement Building prqecl has prcgfessed Well. th final items for the interior in prCy3re This dedicated wll provide a private and SUp1ve environment for bereavement services. Increased bed occupancy ulilising Continuing Healthcarn funding models We have made a conlribulion to the SJ¢xe$l opbmisation of bed ¢upaeY al pri111a Bacon Lcrtlge. This has led to increased patsent admissions and improved financial sustainabilrty. By fIning referral processes and strengthening partnerships, ¢0rtY has bew maximi5ed while maintaining high-quality care stsndards. Overall. these initiatives mark signrfnI prw t(Thards our rnission of providing exceptional care and support. We remain committed lo bjilding this momenlum and further enhancing our services in the coming months. Retsil operatlon8 PBR, the Charity's trading subsidiary, operate5 8 shr¥s in Norwich suburban areas as well as market towns to the north-west and north-easl of NoMth. The eighth shop. oned in Bowthorpe during the year. has been a useful addition lo the retail operation and has been the first lo offer small items of furnitu. The continued support of donated goods from the puljic arKI c£Jrp)rate organisations. received al our warehouse in Drayton or through our house dearan¢e seNice. is paramount to the gjccess of the Charity's shops in order to wnlinue our level of incc*ne and future growth. The online plattorms have ntinUed to te benefiual in generating income and providing a new slream of income into the retail operation. The revenues generated by PBR directly support the wider fundraIng ams crf the Charity. The running of the shops is supported by a group of 150 vdunteers. FIDancial revi•w During the Teporting year total inc(Yne amounted lo £3.132,549 12023 £3.209.5481 and after incuiring expenditure of £2.206,972 {2023 - £1.024.4371 the totsl funds ineased by £925.57712023- £2.185,1111. In addition, donations in kind have been provKled by a multitude of busnesses and in the areas of design and construction prqect th, business engagement, marketing and communicats.ons suprrt)rt, events. partneTships, payroll services and insurance. Roserves Pollcy In line wth Charity Commission guidance. Prisalla Bacon Norfolk Hospice Care Limited has developed reseNes policy that is aFpropriale for the Charty. The policy takes into account the need to set a&de funds lo ensu sustainability. manage uncertainty but also to support the fundin9 of futu planned and scheduled activities and services to our ber[laries. Priscilla Bac Norfolk Hospice Care Linited holds rr¥e$ to enatAe it to meet its contractual obligations (including MmItted administrative $1$) and taIn a suffKcient maoin of funds to meet the cost of unforeseen events. The Truslees, target for free reserves is £954,000. vthich repregenls 6 months of operating cost& contraclval emptoymenl otAigalions and commercial lease ot4igalions in relatson lo subsidiary activities. The free reserves wll consist of UnstrICted funds not invested in langble fixed assets or designated for Page 6
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A company limitsd by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 OCTOBER 2024 speerfie purF4)ses. The Chaiity has free reserves of £2.185.246 as at the year end. Th6re are ptans in pl to ulilise ex$$ funds in the development of seThices to our tenearleS. The free reserves will consist of unreslrrcted funds not invested in tangible fixed assets or designated for specific purposes. Unrestricted funds al the year end totdled £2.396,934 12023 £945.2351, and restricted funds tolalled £13,239,71212023- £13.765.834). Plan8 for tho future 1. Expartlng Bereavement Services Broaden our bereavement SUpt to include dedicated famity astanCe. Intr0dLe art therapy as a therapeuts¢ approach for grief and healing. Develop structured programs that integrale counlling, peer support, and creative expressbon. 2. Developing gjstainable inccrfne streams Idenlify diverse revenue sources. including grants. corporate partnerships, and community fundraising. Establish a long-term finanaal sustsinakn'lity plan to enwre conlinued Servi defivery. Explore opportunities for social enlerprises or tharity-run bugnesses lo generate additional irKcffle. 3. Enhancing financial processes Implement financial policies and procedures that improve transparew cOUntabl11ty. Streamline internal financial prctesses for efficient resource management. Regularly reviewfinanual perf¢ymance and adjust slralegs as needed. 4. Strenglhening administrative suprt Enhance administrative capacity to facilitate the Charity's continued grh. Implement systems to improve data management, rerM)rting. arKI communication. Pfovide staff and volunteers wth training and fesources lo oplimise efftcieiKy. S. Launching and h05ting fundraisng evenls Develop and PTomote new fundraising events to engage the community. Strengthen donor relabonships and encourage reeurring contributior. Ulilise digital plattomis lo expand fundraising efforts and increase reath. 6. Increasing outpth'ent utilisalion al Prixilla Bacon Lc*Jge Raise awareness of outpatient services through targeted OLffteach and partnerships. Contribute to improvements in accessibility. Expand service offerings to meet the needs of a broader patient demographic. 7. Expanding grounds and fflaintenan sUtp)rt RTtt additional staff io ensure the upkeep of the Charity's falitieS. Implement maintenance schedules lo enhan the environment for patients and families. Invest in irrfraslructure improvements Whe necessary. 8. Integrating in-house Catering Serv Through the inlemal manageMt of the café patient meal services to Contin to enhance quality and service. Continue lo develop nutritious meal plans tailored lo patient needs. Establish further partnetships with local suppliets to ensure sustainability arKI cosl-effectiveness. 9. Developing a new Webte Create an upjaled, user-friendly website for t#)Ih Charity engagement and patient resources. Ensure the webwle is accewble. infomabve, and easy lo navigate. Incorporate online donation features. ecomrneree and event registration options. Page 7
PRISCILLA BACON NORFOLK HOSPICE CARE UMITED (A company l•mited by guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2024 Statement of Trustees. rnspon$lbilltle8 The Trustees (who are alx) the Directrys of Prisolla Bn Norfolk Hosp¢e Care Limited for the purposes of company law) are responsible for Pfeparing the Trustees. report and the financial statements in accordance with applicable law and United Kiwm Accounting Standards (United Kingkn Generally Accepted Accounting Practti). Company law requires the trustees to prepare financial statements for each financial year. Under company law the Trustees must not aFvrove the financial staternents unless they are sab"sfied that they give a Irue and fair view of the state of affairs of the Group and the Ccffipany and of their incoming resources and application of resources, including their inecffle and expendrture. for that pen¢xl. In preparing these financial statements. the Trustees are required to: select suitable accounting F1cleS aNJ then aOy them consislenlly,. observe the rnelhods arKI prinuples of the Charities SORP IFRS 102).. make judgments and accounting estimates that are reasonable and prudent. state whether arplicae UK Acct)unting Stsndards IFRS 1021 have l)een follo%d. subject to any material departu disclosed and explained in the financial statements: prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Group will continue in busness. The Trustees are resFonsble for keeping adequate accountiry records that are sulfiuent to show and explain the Group and the Company'$ transactions and dixlose Mth reasonable al any lime the financial position of the Group and the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also respongble for safeguarding the assels of the Group and the C¢xnpany and heTr for taking rea9)nae steps for the prevention and deteclion of fraLKb and irregularities. Disclosure of informalion to auditors Each of the pergjns who are Trustees at Ihe time %then this Truslees. Report is approved has confimied that.. g) far as that Trustee is aware, there is rbo relevarbt audrt infonnatson of which the charitable group's auditors are unaware, and that the Trustee has taken all the steps that ought to have been taken as a tnjstee in order to be aware of any levant audrt information and to establish that the charrtable group's auditors are aware of that infomiation. Approved by order of the members of the bowd of Trustees and signed on their behalf by.. Andrew Barn•s Date. (k Page 8
PRISCILLA BACON NORFOLK HOSPICE CARE UMITED company limltsd by guarants•} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PRISCILLA BACON NORFOLK HOSPICE CARE LIMITEO Opinion We have aKlited the financial statements ol Prisalla 8a Ncrfolk HOspe Care Limited (the 'parenl charitable CL)rnpany'J and its sub5idiarie5 (the 'group'l for the year ended 31 October 2024 vthich comprise the Consolidated slalement of finanual activitses, the Conxjlidated balance sheel, the Charity balance sheet, the Consolidated ststemenl of cash flows and the related notes. induding a surnrnary of sgnificanl accounting policies. The finanoal reporting framevrt)rk that has teen applied in their PParation is applicable law 8nd United King¢Jom Accounting Standards. induding Financtal Repon9 Slandard 102 'The Finanual Reporting standard ap1¢ab]e in the UK and Repthlrc of Irelwwj, Iunrted lfjngthyn Generalty Accepted Accounting Practice). In our opinion the finanual statement& gNe a true and fair view of the stale of the Group's of the parent charilable company's affairs as at 31 October 2024 and of the Group's incoming resources and application of resources, including its income and expenditure for the year Ihen ended: have been propedy pyared in aCcC wth United lfjn9kn1 Generalty Accepted Accounting Practice". and have been prepared in &cordaKe wth the requirements of the CompaniesAct 20C6. Basis for opinion We conducted cmjr audit in 8e¢ordance with International Standard5 on Auditing {UK) IISAS IUK)} and applicable law. Our sFx)nSibllrtleS under those standards are further dexrited in the Auditors, responsibilities for the audit ol the financial statements section of cwr pOrt. We are independent of the Group in accordance th the ethical requirements that are relevant lo our audit of the financial slalemenls in the United Kingdom, induding the Financial Rewrting Cwncil's Elhical Stsndard, and we have futlilled our other ethical responstbilities in accordance wth these requirements. We believe that the a11 evidence we have obtained is suffiuenl and appropriate to provide a basis for our Opinn. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in Ihe pparab"on of the finanoal ststements is appropriate. Based on the VKJrk we have pertomed. have not identifierj any merral uncertainbes relating lo events or conditions that. individually or collectivety. may cast ggnificanl doubl on the Group's or the parenl charitable company's ability to continue as a going concem for a pericJ of at least 1ve months from when the financial staternents are authorised for issue. O¥Jr responsibilitie5 and the responsbilities of the Trustees *fjth respect lo nrn are dribed in the relevant sections of this report. Page 9
PRISCILLA BACON NORFOLK HOSPICE CARE LIMrrED (A company limiled by guardnle?) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PRISCILLA BACON NORFOLK HOSPICE CARE UMITED ICONTINUED) Other inforniatlon The other infomation comprises the infomalion induded in the Annual rewrt other than the financial statements and our Auditors. report thereon_ The Trusls a respongble for the olher information contained within the Annual rep)rt. Our opinion on the fin¢la1 statements does Th)1 cover the other infomialion and, exp to the extent olherwise expli¢idy stated in our reFKsrt. we tr) not express any form of assurance conclusion thereon. Our responsbility is to r&id the other infomiatiorb and, in doing so. wnsider whether the other infom)alion is materially inconsstent with the finanaal statements or our knowledge obtained in the course of the audit. or olhewse apFears lo be materially misstated. If we Identify such material inconsistencies or aF¥>arent material misslatemenls, a required to determine whether this gives rise to a materi81 misstatement in the financ1 slalemenls themselves. If, based on the work we have rfOrned, we conclude thal there is a material misstatement of this other informalim, 7Ae are required to rep)rt that fact. We have nothing to port in this regard. Opinion on other matt815 prescrll)od by lh• Companles Act 201)6 In cr opinion, based on the work undertaken in the eourse of the aud the information given in the Trustees. reFQrt for the financial year for which the financial statements are prepared is con&stenl with the finanaal slatements. the Trustees. report has been prepwed in acrdanCe ith apFliQe legal requitments. Mattors on which wè aro reqtsired to report by exception In the light of our knledge and understsnding of the charitsble company and its environment obtained in the course of the audi( we have not identified material misstatements in the Trustees. report. We have nothing to reryjrt in SpeCt of the folkmryng mattets in relation to vthich Companies Act 20C6 requires us lo report to you rf, in our opinion.. the parent charitale c(xmp3ny has kept adequate and suifiuent &counting records. or retums adequate for our audit have not been receNed from brnnches nol visited by us,. or the parent charitable company financial atements a not in agreement Ihe accounting records and retums. or certain disclosures of Trustees. remuneration specified by law are not made.. or y have not Tecewed all the information and explanations we require for our audit Page 10
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A Company limited by guaran) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PRISCLLA BACON NORFOLK HOSPICE CARE LIMITED (CONTINUED) R•spon8ibiliti•s of trustees As explained more fully in the Trustees, reswjngbilibes statement. the Twees {who 8re also the diwlors of the ¢haritable company for the purposes of ccffipany lawl a responsble for the preparation of the financial statements and for being sab"slied that they gtve a true and fair vie•¥, and for such internal control as the Trustees delemiine is necessary to enable the preparatron of financial ements that are free from material misslalement, I91hr due lo fraud or error. In preparing the financjal statements, the Trustees are re¥4)nble for aSsen9 the Group's and the parent charitable cL)rnpanls ability to continue as a gn9 concem. disclosng. as applicable, matters related lo going concem and u&ng Ihe going cern basis of auntIng unless the Trustees either intend lo liquidate the Group or the parent charitable company or to cease operations. or have realistic alternative but lo do x). Auditorn. re8ponslbHlties for the audit of the financial statemènt8 Our ot4'ectives are lo cl)lain reag)nable ¥knut Ythether the financol sLments as a %thole are free from material misststemenl, whether due to fraj or error. and to issue an Auditors. report that indudes our opinion. Reasonable assurance is a high level of assuran, tr¥Jt is not a guarantee that an audit CL)nducled in accordance with ISAS {UK) will aayS delect a malefial misstatement %then il exists. Misstalernenls can arise from fraud or error and are considered material if. individually or in the agjregate. they could reasonably be expected lo influence the economic dea"sions of users taken on the basis of these financial stalemenls. Irregularities. induding fraud, are Instan of ncn-compliance Vdilh laws regulab"ons. We design pr¢xedures in line wth our responsibilits"es, ouilined above, to detect material misstatements in respect of irregularities, Including fraud. The extent to which our wccedures are capable of detecting IegUlarities. including fraud is detsiled below. Enquiries with management and those Charged with govemance at(ut Y kn$) or suspecled inslances of non-compliance wlh law5 arKI regulalK)ns and fraud. Reviewing Board minutes", Revie¥wng finala1 statement disclosures and lesting to p{thIng (¢umentslion to assess cornpjiance th applicable laws and regulations", Auditing the risk of management ovenide of contrds irdLNJing Ihfough testing joumal entries and otrier adjustments for appropnaleness. Because of the fiekl in whh the charitable company operates. we Identsfied the following areas as Ih05e most likely lo have a rnalerial impact on the financial statements.. Health Safety. Employment law.. GDPR., and compliar£ with the UK Companies Act and Charities Act. There are inherent limiL81ions in Ihe audit w&UreS dwibed atve the further removed nonccrfnpliance th laws and regulations is from the events ar¥J transactions reflected in the financial statements, the less likely we would become aVrd of it. Also, the risk of not delecbng a materral misstatement due lo fraud is higher than the risk of rtol detecting one resulting from error, as ffaud may involve deliberate )nCealment by. for example, forgery intentional misrwesentstions. or through collusion. A further deviplion of our respongbilibes for Ihe audTt of the financial statements is located on the Financial Reporting Counol's web&le at." vrnw.fic.o Jauditorsr sbilities. This epIlOn forms part of our Auditots, pOrt. Page 11
PRISCILLA BACON NORFOLK HOSPICE CARE UMifED IA company limit by guaranleg) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PRISCILLA BACON NORFOLK HOSPICE CARE UMITED {CONTINUED Use of our report This report is made solety lo charitsble c£rfnpanls rrth)bers. as a b(th, in XC0rdare V*ith Chapter 3 of Part 16 of the Companies Act 2C4)6. Our audil work has been undertaken so thal we might state to the charitable company's members those matters are wuired to stale to them in an Auditors, report and for no other purpose. fo the fullest extent pemiitted by law. we do not ap1 or assume respon&bility lo anyone other than the charitable ccmpany and its Mernt5. a5 a W. for our audrt work. for Ihis reForL or for the opinions we have fomed. Julie Grimm•r FCA DChA (Sonlorstatutory auditor for and on behalf of Larking Gowon LLP Chartered Accountsnts Slalulory Auclilors 1st Floor Prospect House Rouen Road Norwich NR1 1RE Date.. 11 April 2025 Page 12
PRISCILLA BACON NORFOLK HOSPICE CARE UMITED (A company limit•d by guarantse) CONSOUDATED STATEPAENT OF FINANCIAL ACTf4iTIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT> FOR THE YEAR ENDED 31 OCTOBER 2024 Unrestrfcted Restricted funds fund$ 2024 2024 Total fund$ 2024 Tot81 fvnds 2023 Income Irom: Donations and legacies Charitable activities Other trading aelivikn.es Investrnents 1.355.494 188.420 1.152.130 377.000 1.732.494 188,420 1.152,130 59,505 2,157, 171 14,695 980,861 56,821 Total income 2.755.549 3TI.01)O 3.132.549 3.209.548 Expgnditure on: Raising funds Charitable activilies 1.472.056 529.521 141.047 2.001.577 205.395 852.061 172.376 Total expenditure 1.536.404 670.568 2.206.972 1,024.437 Net In¢omel{oxpèndlture) Transfers teknn fuTras 1.219.145 232.554 1293.$68) 1232.$54) 925.577 2.185,111 17 Net movem•nt in funds 1.451,699 {526.122) 925,S77 2,185,111 Reconciliation of fvnds: Total funds brought fOrard Nel movernenl in funds 945.235 1.451.699 13.765.834 (526,1221 14.711.069 925.577 12,525,958 2,185.111 Total funds carried forward 2.396.934 13.239.712 15.636.646 14.771.069 The Consolidated statement of financial activities includes all gains and losses re¢c#Ised in the year. The notes on pages 17 to 35 form part of these financial statements. Page 13
PRISCILLA BACON NORFOLK HOSPICE CARE UMITED {A company limited by guarantee) REGISTERED NUMBER: 09832765 CONSOLIDATED BALANCE SHEET AS AT 31 OCTOBER 2024 2024 2023 Fixed assets Tangits assets Investrnents 13 13.188.671 11JO 13,572.924 14 13.188,771 13.572,924 Current assets Debtors Cash at bank and in hand 15 324.768 2.477.846 590.460 928.475 2.802.614 1,518.935 Creditors.. amounlsfalling due within one year 16 1354.7391 {380. 790) Net ¢urrnTht assets 2.447.875 1, 138, 145 Totsl net assets 15,636.646 14. 711.069 Charity funds Restricted furKI$ Unreslricled funds 17 17 13,239.712 2.396.934 13. 765,834 945.235 Tolal funds 15,636.646 f 4, 711,069 The Trustees aCknOedge their responsibilities for comptying with the requirements of the Act wilh respect to accounting records and preparation of financial statements. The finanaal statements were approved arKI aulhon.sed for issue by the Trustees and signed on their beharf by.. Andrew Barne$ Date". l+ The notes on pages 17 10 35 fomi part of these firtancial ststements. Page 14
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A Company limited by guarantee REGISTERED NUMBER: 09832765 CHARITY BALANCE SHEET AS AT 31 OCTOBER 2024 2024 2023 Nolo Fixed assets Tangible assets Investments 13 14 13,173,505 13,563.354 100 13.173.705 13.563.454 Curront assots Debtors Cash at bank and in har 15 262,031 2.462.763 537, 706 898.604 2.724.794 1.436.310 Creditors.. amounts falling due within one year 16 (328.913) (329, 680) Net ¢urrnnt assets 2.395.881 1. 106,630 Total net a88•ts 15.569.586 14,670.084 Charity funds Restricted funds Unrestrided funds 17 13.239.712 2,329.874 13,511.604 1. 158.480 17 rolal funds 15.569.586 14.670.084 The Charity's nel movement in funds for the Y vrds £899.502 (2023- £2.268.994J. The Trustees acknedge their respons4bilities for comptying with the requirements of the Act wth respect lo accountsng records and preparation of financial ststemen The financial stalemenls We approved and aUthSed for issue by the Trustees and signed on their behalf by.. Andrew Barnes Date.. 4+ W lol£ The notes on page5 17 to 35 form part of these finanoal ststements. Page 15
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED IA company limlted by guarantsg) CONSOUDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2024 2024 2023 Cash flows from operating 4¢tiviti6s Nel cash used in Lyrating tIvitIeS 1.704.376 3.848,003 Cash flows from investing actlvltles Interest received Purchase of tangible fixed assets 51.521 1221.735) (7.380. 133) Net cash us8d In investing a¢tivltioS (162.230) (7.328,612) Changè in cash and ¢ash equSvalents in the year Cash arKI cash equNalents at the beginning of the year 1,542.146 928.475 13.480,609) 4,409.084 Cash and ¢a$h •qu•val•nts at the end of th• y•ar 2,470.621 928,475 The notes on pages 17 to 35 fomi part of these fin8nryal statements Page 16
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITEO IA company limit•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 General inforniatlon Prisalla Bacon Norfolk Ho¥¥ce Care Limited is a company limited by guarantee domiciled in England and Wales, registralion number 09832785. The registered office is PrillIa Bacon L¢)dg& Century Plac8. Colney. Now¢h, NorfolK United KingJ(n. NR4 7Y Accounling pollcles 2.1 Basi$ of pr•paration of financial stat•ments The financial statements have ten ppared in ac£ordance Wilh the Charities SORP IFRS 102} - Accounting and Reporting by Charities.. Statement of ReC(MMen Pwlice applicable to charities preparing their accounts in accordance vlith the Finanual Reporting Standard applicable in the UK and Republic of Iland (FRS 102} (effective 1 January 20191. the Finan¢ial Reporting Stsndard aFplicable in the UK aTrJ Republic ol Iland IFRS 1021 and the Cwpanies Act 2006. Priscilla Bacon Norfolk Hospice Care Limiled meets the definition of a public benefit entsty under FRS 102. Assets and liabilities are initially recc3nised at hithical cost or transaction value unless otherwise stsled in Ihe relevant accounting poliw. The Conwlidated stslemenl of financial acbvities (SOFA) Conwlidated balan sheet consotidale the financial slatemenls of the Charity and its subg'diary undertaking. The results of the subsdiary are consolidated on a line by line basi> The Charity has taken advantage of the exempts all(MEd under sects'on 408 of the Companies Act 2(*)6 and has not wesented its own Ststement of financk81 aciivities in Ihese financial statements. 2.2 Going ¢oncem The directors have reasonable expectabon that the Charity and Group has adequate resources to ntinue in operational exislence for the foreseeable fulure. Thus they continue to a(k)pl the going rrn baws of a¢ntIng in preparing the annual financBI statements. Page 17
pRIILLA BACON NORFOLK HOSPICE CARE LIPAITED (A company limlted by guaranta•} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounting policies {continued) 2.3 In¢om• All income is recognised ore the Charity has entiyement to the incom?, il is probable that the inccffle V•ill be received and the am0( of inc¢)me re1¥able Can b8 measured reliably. The recognition of income from legaaes is dependent on estalShig ents"Ilement. the probability of receipt and the akn.lity lo esb.mate sufficient acujracy the amounl receivable. Evidence of enlillement lo a legacy exists %then the Charity has sufficient ev1deft that a gift has been left to them (through knedge of the existence of a valid will and the death of the benefaclorl and the executor is Satiled that the property in question Vill not be fequired to satisfy daims in the estate. Receipt of a legacy must te recc#3nised when it is probable that it wll be wived and the fair value of the amount r1vable. vknich wll generally be the expected ¢ash amount to be distributed lo the Charity. can be reliably rneaJred. Grants are inclLJed in the ConlIdated stalement of financial activities on a receivable basis. The balance of income rttwved for specrfic purFk)ses 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 induded in cr&Jilors as defeed income. Whwe enlillement ' curs before inclyne is received. the income is accrued. tkjnated professional Servi and donated faulthes a reccgnised as a gfft. on receipt. on the bas¢s of the value that the company ¥Uld have ien wlling to pay to obtain the services or faolities of ewivalent eo)nomic benefit on the open markel. a corresponding amounl is then recognised in expenditure in the period of receipt General volunteer lime is not valued and recognised in the financial statements. 1cthe tax recovefable in latiOn to donali¢)ns rtteived urth Grft Aid or deeds of C•)venant is recnISed at the b.me of the ¢)nation. Income lax recoverable in relats.on to investment inccffie is reco3nised at the lime ttr investment inccme is receNable. Donated assets are recognised as a gift. vthen the risks and rewards attached to ownership are transferred. Donated assets are reccgnised at fair value taking into account any re$triclions orb those a5set5 imposed by the donor. 2.4 Exponditure Expenditure is recognised On th is a legal ty constrwAive c4)ligalhJn to transfer economic benefit lo a third porty, il is probable Ihat a transfer of economic benefits will be required in settlement and the amount of the obligalion can be measured reliably. Expendf(ure is classified by activity. The costs of each a¢tivity are made up of the total of direct $ts and shared costs, including support costs invdved in undertaking eh activity. Direct costs attribulable to a single activity are allccated directly lo that activity. Shared costs which contribute to rnore than Or activity and SUPFQrt costs vh)ich are not attributable to a ngle activity are apportioned between those activities on a bags congstent wlh the use of resour$. Central staff (xjsls are slloeated on the basis of lime spent. and deprecrab'on charges alld on the p)rtion of the asset's use. Page18
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED IA company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Aecounting poli¢i•s {continued) 2A Expendituro (continuod FUndrair costs are those IrTred in seekj.ng vduntary contribution5 and do not inclLKle the costs of disserninaling information in SUFP)rt of the charitable activities. Support costs are those costs incurred direcdy in support of expenditure on the 0"e¢l$ of the company and include project management. GovernarKe costs are those in(yJrred in eonnection with adminislralion of the company and complianee wlh constitutional arKI 5tstulory requirements. Costs of generatirwj furwts are costs Inrred in attracliNJ voluntary income. and those incurred in trading activilies thal raise funds. 2.5 Interest rl¥able Interest on furKls held on dep)sit is Ind when recwvable and the amnI can be measured reliably by the Group., this is normally upon notification of the inleresl paid ry payalJ& by the insts'tubon vthom the fur¥Js are deFogled. 2.6 Intanglble assets and amortisation Intsngible assets are inrtially rewJnised al cost. After recognitson, under the cost model, intangible assets are measured al (y)st fess any accumulated amthsats.on and any accumulated impaimient Amortisation is provided on intsThJitAe assets at rates calculated lo write off the cost of each asset on a straighl-line basis over its exFected uful life. Amortisation is provided on ltr foll¢MrwJ basis". Sof*rnre 20 % straight line 2.7 Tanglble fixed ass•ts and d•pre¢lation Tangible fixed assets a inilially recniSed al cA)st. After recc¥JnÉlton, under the cost model, tangible fixed assets a measured at cost less &cumulated depwialion and any accumulated impaim)ent losses. All cosls incurred to bring a tangible fixed asset into its intended working e4)ndition should be included in the measuTwnent of cost Depreciation is charged so as lo allocale the cc61 of tsryible fixed assets less Iheir residual value over their estimated useful lives_ t)epreciation is provided on the folIcn9 base>" Main building Other buil¢Jing related assets Equipmenl Fixtures and fittings Computer equipment 50 years straight line 5-25 straight line - 3-5 yeaTs straKJhl line 3 - 6 years slraighl line 3 years stRight line Page 19
PRISCILLA BACON NORFOLK HOSPICE CARE UMITED (A company limiled by guarant•• NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 A¢counting policies Iconlinued) 2.8 Invfjslmgnts Fixed asset investments are a fomi of financhal instrumenl and are initially recognised at their transaction eosl wbsequentty measured at fair value al the Balan sheet dale. unless the value eannot be measured reliably in which case rt is measured at cost less impairment. Inveslmenl gains and losses. whether realised or unTealised, are combined and preted as'GatnfJ(Losses1 on investsnenls, in the Conlidated statement of financial a1Vitie& Investments in substdiaries are valued at cost less provision for wmwmienl. 2.9 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaKI nel of any trade discount5 due. 2.10Cash at bank and In hand Cash al bank and in hand indudes cash and short-temi highly liquid investments with a short maturity of three months or less from the dale of acquigkn.on or opening of the deposit or similar account. 2.11 Liabilities and provisions Liabilities are rewgnised kn the is obligati¢)n al the Balance sheel de as a result of a past event, it is probable that a transfer of ewnomic tenefit wll be required in settlement. and the amcHJnt of the settlement can be estimated reliably. Liabilities a rectrJnised at the amount that the Charity anticipates it Wbll pay lo settle the debt or the amount il has received as advanced payments for the goods or services il must provide. Provisions are measured at the best estr"m8te of the amounts required to settle the obligation. Where the effect of the ts.me value of morw is material. the proviyon is based on the present value of those amounts. discounted at the pre-tax diSUnt rate that reflects the risks specifi¢ to the liability. The unwinding of the discount is recognised in the Con¥)lidated statement of financial activities as a finan cost_ 2.12 Financial instMentS The Group only has finanaal assets aThJ financial liJilities of a kind that qualify as basic financial instruments. Bagc financial instruments a initially recoanised at Iransadion valLJe and subsequently measured al their settlement value wtth the exception of bank loans which are subsequently measu at amorbsed cost using the efftiVe interest melhcd. 2.13 Operating leases Rentals paid un¢*r operatiThJ leases ¥e charged to Consolidated statement of financial adivities on a slraight4ine basis over the lease term. Page 20
PRISCILLA BACON NORFOLK HOSPICE CARE UMITED IA ¢ompany limited by guarant) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Accounllng pollclos {continu•d) 2.14 Pensions The Group operates a defined ctilbution PenOn s£heme and the penson charge represen15 the amounts payable by the Group lo the fund in respect of the year. 2.15 Fund accounting General fund5 are unrestricted funds vthich are available for use at the discretion of the Trustees in furtherance of the general 04"eth"ves of the Group and wthich have r1 been de&gnaled for other purposes. Des'gnated funds ecThprise unrestricted funds t have been set asHde by the Trustees for particular purposes. The aim and use of each dwrkited fund is sel out in the notes to the financial statements. Resllided funds are funds which are to te used in accoTdan¢e wth Specif restrictions imposed by donors or vthich have been raised by the GrcNJp for particular purposes. The costs of raising and administering such funds are charged against Ihe furKI. The aim and use of each reslrided fund is set out in the rteS to the financial statements. Investment inec¥ne. gains and losses are allct*ed to the apfvyopriale fund. Incomg frorn donations and 1oga¢ioS Unrestri¢led Restrict funds lurtds 2024 2024 Total funds 2024 Total funds 2023 tlonats¢)ns Legacies Grants Gift aid 987.962 138.626 2C6.248 22.658 987.962 138,626 583,248 22.658 631,825 26, 708 1,480,600 18.038 377.000 1,355,494 377.000 1,732.494 2. 157. 171 Total 2023 7.682. 137 4T5,034 2,15T.q71 Page 21
PRISCILLA 8ACON NORFOLK HOSPICE CARE UMITEO (A company limited by guardntee) MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Income from charit•ble activitie8 Unrestr5cted fvnds 2024 Total funds 2024 Tot81 fvnds 2023 provi ol htssp care 188.420 188.420 14.695 Total 2023 14.695 14,695 Income from other tr*ding activities Income from lundralslng events Unrestrictod funds 2024 Total funds 2024 Total fun(ts 2023 Fundraising ineome 229,931 229.931 167.380 Total 2023 167,380 167.380 Inm¢ from non chaTit•ble dIng activltles Unrestricted funds 2024 Total funds 2024 Tolal funds 2023 t)onated 9)ods 922.199 922.199 813.481 Total 2024 922,199 922,199 813,481 Total 2023 813,481 813,481 Non<harilable tradirvJ income relates lo the retail chwity shops oFerated by the wholly owned Subsidiary company Priscilla Bacon Retail Limiled. Page 22
PRISCILLA BACON NORFOLK HOSPICE CARE UMITED IA company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 Investment in¢om• Unrestrlcted funds 2024 Total funds 2024 Tolal lunds 2023 Bank Interest 59,505 59.SOS 56.821 Total 2024 59,SOS S9.505 56,821 Tot812023 ,821 56.821 Expendlturn on raising funds Fundraising trading exp•nses Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Retail costs Rent Legal and profesgon Consultsncy Staff costs National insuran PensM)n$ Depreaation and amortisation 560.601 90.122 3.073 S60.601 90.122 3,073 228.646 49.819 1.395 22.572 520, IQ5 t7,846 4,506 7,172 721.381 22.246 6.139 68.494 721.381 22.246 6,139 598.015 529,521 Total 2024 1.472.056 529.521 2.001.577 852,061 Total 2023 852,061 852,061 Page 23
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 OCTOBER 2024 Analysis of •xpenditur• by acllvltles tivities undertaken directly 2024 Support Costs 2024 Total funds 2024 Total funds 2023 Charitable activikn.es 115.819 89.576 205.395 172.376 Total 2024 115,819 89.576 205,395 IT2.376 Total 2023 118,522 172.376 Auditors. remunerntion 2024 2023 Fees payknle to the Ch*ity's auithtor for the of the Charivs annual acwjnts 13.000 12.500 10. Slaff costs Group 2024 Gmup 2023 Charity 2024 Charity 2023 Wages and salaries Social security costs Contribution to defined conlributim Fengon schemes 647.869 51.951 545.504 29.702 266.488 29.70S 202, 107 11.856 86.743 2.649 80.604 (1.857) 786,563 577,855 376.797 212, 106 The average number of per9)ns emoyed by the Charity during the yw was as fotlov+E'. Group 2024 No. GrDUP 2023 No. Charity 2024 No. Chanly 2023 No. Employees 33 Page 24
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 10. Staff costs (Continued) The number of employees vkne employee benefits (exlIng employer pension costs} exceeded £60.000 $.. Group 2024 Group 2023 No. In the band £60,001- £70.OIXI 11. Tnlees. remunor4tlon and expenses During the year, Trustees received any remureralion or other benefits (2023- £NIU. Durin9 the year ended 31 0Cer 2024. Trustee expenses have been incurred (2023- £NIL). 12. Intangible assets Group and Charity Computer software Al 1 knemter 2023 Disposals 7.800 (7.8001 At 31 October 2024 At 1 NOvter 2023 7,800 Al 31 October 2024 Ne¢ book valuo At 31 Odober 2024 Al 31 Oclob6r2023 Page 25
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 13. T#nglbl• fixed ats Group Leasehold Fixtures Land and property Plant and and buildings Improvements machinery ffttings Equipment Total Cost or valuation At 1 November 2023 Additions 13.457,256 131.246 1.890 10.658 39.796 246,306 4.379 74.207 25.112 13,770,360 1.245 221.735 Al 31 October 2024 13.588.502 12.548 44175 320.513 26.357 13.992.095 Depreciation Al 1 NOVemr 2023 Charge for the year 6.345 169.183 8.648 35,453 197.436 60S.988 556.928 274 4,685 At 31 October 2024 556.928 1,696 14.993 204.636 25.171 803,424 Nwt book value At 31 October 2024 13.031.574 10,852 29.182 115.877 1,186 13.188,671 At 31 October2023 13,457.256 33,451 7T,123 4,626 13,572,924 Page 26
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A mPaThy lim1t by guarnntoe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 13. Tangible fixod assgts l¢ontinu•d) Charity Land and Flxtures and butldingts fttings Equipment Total Cost or valuation Al 1 November 2023 Additions 13.4S7.256 131.246 237.786 72.541 39.796 13.n4.838 4.379 208.166 Al 31 October 2024 13.588.502 310.327 44,175 13.943.004 Depreciation At 1 November 2023 Charge for the year 165.139 32.439 171,484 598.016 556.928 At 31 Oclober 2024 556.928 197.$78 14,993 769,499 Net book valuo At 31 October 2024 13.031.574 112.749 29.182 13,173.505 At 31 October 2023 13.45r.256 72.647 33.457 13,563,354 As set ¢t more fully in note 25. in Dewnber 2021 the charity received a gift of 7.393 xres of land al Colney, Norfolk. This land has become the sle of the new Prisalla Bacon Lcxe Hosp¢ce. The Iruslees considered the fair value of the larKI at the date of the grft arKI took professional athice on this matter. In view of the very speafic and rericled to the use of the land, and as profes&onal athice indicated the value of the larKI was immaterial in the context of the value of the total hospice construction, the trustees concluded that il was not pOSsb to determine an accurate fair value for the land al the dale of the grfl. As a result. no vaue is attributed to the grft of land in the financial ststements. Page 27
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A company limited by guarantso} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 14. Fixed *$set investments Investments in $ub5idiary companies Charity Cost or valualion At l Novemter 2023 Adth"ts"ons 100 100 At 31 October 2024 200 Net book valu• At 31 October 2024 200 Al 31 Odober2023 100 The followng was a subwdiary undertaking of the Charity". Nam• Company number Reglsler•d office or prin¢ipal Class of Holding pla¢0 of business sharns PrISlIa Bacon Retail Limited 11695945 PriSlIa Bacon Lodge Century Place, Colrw, Norwch. Norfolk. United Kingdom. NR4 7YA. Ordinary 100% The financial results of the &knsidiary for the year were" Nam• In¢om• Expenditur• ProfiV(Loss 11 Surplu (Deficit) for the year Net assets Priscilla Bacon Retail Limited 927.402 (901.403) 25,999 67.060 Pa9e 28
PRISCILLA BACON NORFOLK HOSPICE CARE UMITED (A company limited by guarantsè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 15. Debtorn Group 2024 Gmup 2023 Chaiity 2024 Chanfy 2023 Dv• within one year Trade debtors Arnounls o%%ed by group undertakn"rvJs Other debtors PpaYments and aecrued income 17.318 30.710 13,505 25,902 237.934 69.516 479.578 80.072 216,318 32,208 459.416 52.305 324.768 590.460 262,031 537, 706 Included in Other deblofs is a balan of £204,812 (2023." £456.3951 lating to funds held in Escrow by a thiid paty on tehalf of Pllsulla 8aeon Norfolk Hospice Cwe Limited. 16. Creditors: Amounts falling due within one year Group 2024 Group 2023 Charity 2024 Chanty 2023 Ba overdrafts Trade credrtors Amow)ts owed to group undertakings Other taxab.on and social wurity Other creditors Accruals and deferred inccffle 7.225 7.225 68.646 13.828 9.476 178.881 50,857 120.369 17 96.899 5,t99 7,081 180,668 39,833 100 13.069 180,665 63.635 11,215 188,635 354.739 380. 790 328.913 329,680 Page 29
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED IA Company limited by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 17. Statemont of funds Statement of funds - currnnt year Balance at 1 Novembor 2023 Balance at Transfern 31 Oetobor Inlout 2024 Income Expenditur• Unre8tri¢t•d funds D•signated lunds Garden Maintenance Fund Care & Support Committee Music Therapy Complementary Therapy 32.000 132.316) 125.414) 115.782) 32.000 31.684 27.077 64,218 50.000 2.491 80.000 GD.000 82.000 2.491 (73.512) 162.000 172.979 General funds General Funds 863.23S 2.7S3,058 11.462.892 70.$54 2.223.955 Total Unrestricted lund$ 945.235 2.755.549 (1.536.404) 232.554 2,396.934 Restrfctsd funds Hospice Building Fund Garden Landscaping Fund 8ereaverr*nl Services 13.506.604 192,682 {529.521) 175.7781 165.2691 12.977.083 110.000 {226,9041 15.6501 262,629 13.765.834 377.000 (670,568) {232.$54) 13.239,712 Total of funds 14.711.069 3.132.fA9 12.206.972) 15.636.646 Page 30
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A company limit•d by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 17. Statoment of funds (Continued) Rericled Funds Hospi Building - Follv•ing the completion of the hospice the as9)ckqted costs and value bw'ng held thin Fixed Assels are rthv refiected wthin the Hospiee Building Fund. Garden Landxai%ng - this fund represents funds held for Ihe purposes of further landscaping work going forward. A t(ansfer has been m* from this fund lo unrestn'cted of £226,904 which corrects misallocation of funds to restric¢ed funds in pwious perK)ds. Bereavement Services- to develop ofKI slaff the Irea¥ement service for the charity to MPlIMent the NCHC service. and wden the rexh of bereavwnenl This is restricted fvnds donaled specifically for Ihis proiecv seNice. In addrtion to the aVe, there was an IT infrustrUctU fund received and fully spent in the year of £15,0W. DeSnated Funds Garden maintertan- This fund will Cover the costs of managirrfj the garden space. A transfer has been made to this fund from the landseapng furng as above. Care & Supp)rt Committee - £50,Cth will be deggnated every year to cover patient comfort5 in the lodge such as heal packs. "rthdaY cake5. taxis and xtivity books. A transfer was made lo this fund frcyn general funds. Music fund - this fund is tsggnated to cover the staff co&s related to providing music therapy SeiceS for families and patients al Priscilla Bacon L¢)dge and Ihe community. Complementary Theppy this fund is dewgnaled to Cover staff costs 8nd resources to provide omplementary therapy service induding hand massage, reflexok)gy aThJ aromatherapy lo support pain management, relaxatiLM and stress reduction. Page 31
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 17. Ststement of lund$ {¢ontinuedl ststomont of funds- prlor year Balance 81 l Novembel 2022 Balance al TransfvfS 31 October inlout 2023 lrtc¥ne Expendrtu Unrestrlcted funds Designated funds Garden Maintenance Fund ca & Supw)rt Commrttee 32.000 50.000 82,000 Generdl funds General Funds 6.332.183 2. 734.514 {1.014,056) (7. 189,406) 863.235 Totsl Unrestrlcted funds 6.332. 183 2. 734.514 (1.014,056) f7, 107,406) 945,235 Restrict•d funds H¢Jspio Building FurKI Garden Landscaping FUTr Bereavement Services 6.188. T75 7,317.829 13.506.604 {157,352) 192, 682 (53,071) 66,548 3.034 125.OLX) 6. 193.775 475.034 7. 107.406 13, 765.834 Totsl of funds 12,525,958 3.2Q).548 (1,014.056J 14, 711,069 P8ge 32
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED A company limltsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 18. Analysis of net ass•ts b•then funds Analysis of net assets between funds- current poriod Unrestrfcted Restricted funds funds 2024 2024 T¢)tal funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within on8 year 211,588 12,977.083 13.188,671 1Crt) 100 2,539,985 2,802.614 (354.739) 1354.7391 262,629 Tolal 2.3%.934 13.239.712 15,636.646 Analysis of net assets b•tweM funds- prior perlod Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Tangible fixed assets Current awls creth.tors due wthin one y 66.320 I3.6.604 13.572.924 1,259, 705 259.230 1,518,935 (380, 790) (380, 790) Total 945.235 13. 765,834 14, 711,069 Page 33
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED (A panY limit¢d by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 19. Reconciliation of n•t mov•meTht in fvnds to n•i eash Ilow from op•rating a¢¢ivilies Group 2024 Group 2023 Net income for Ihe perioj (as per Statem8nl of Financial Acltvities) 925,$77 2.185.111 Adju$lments for: Depfeciation charges Investment inccyne Ilncr&*eydecrease in debtors Drease in eredilo $03,600 17.835 {59,505) (51,521) 305.124 2,236. T24 160.687) ($34. 794) N¢t ¢a$h provided by operating activiti•s 1.614.109 3,853,355 20. Analysis of cash and cash oquivalents Group 2024 Group 2023 Cash in hK1 Overdraft 2.477.846 17.225) 928,475 Total cash and cash equivalents 2,470,621 928.475 21. Anatysls ofchan9¢s in net d•bt At1 NO¥nber 2023 Cash flows At31 October 2024 Cash at bank and in hand Bank overdrafts repayable on demarKI 928.475 1,549,371 {7,225) 2.477.846 {7.225} 928.475 1,542,146 2.470.621 22. Pènsion commitments The group operated a defined Mnlntr¥Jtion pensbon heffle. The assets of the scheme are held Page 34
PRISCILLA BACON NORFOLK HOSPICE CARE LIMITED IA company limited by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 22. Pension commltments (continued) separatdy from those of the Charity in an indeperKlenlty administered fund. The penon eosl ch¥ge represents ts)ntributions paythe to the fund and amounted to £13,231 (2023. £8.0301. Contributions lotalling £567 12023.. £4821 were payable to the furKI * the balance theet date and are induded in creditors. 23. Operaling lease commitments At 31 October 2024 the Group arKI the Charity had czjmmitmenls to make fijture minimum lease payments under non-¢1[ae owaling leases as follm: Group 2024 Grt)up 2023 Charity 2024 Chanty 2023 later than 1 year Later than 1 year arKI nol later than 5 years 23, 708 16,678 18.332 12. 707 40.386 31.033 24. Relatsd party trSalon5 The finanual statements ivde expenses totallin9 £1.¢knJ 12023.. £4,607) charged by RG Carter Limited and RG Cartef Technical Services Limited {ix)th companies are undeT the control ol R Carter who (esigned as a Trusleee on 31 Detember 20231 £nil 12023." £3.614) is induded wlhin Creditors at the year end. The financial slalements also include exKIlture of £nil12023". £853} Charged by RG Carter Limited la company under the conlfol of R Carter) in re4Ct of project management services. The financial ststemenls indude expenses totslling £1.19712023'. £5.8071 charged by Sonata Security Limited la company under the control of R Cer). of vknich £Nil (2023.. £5.6451 is included wthin creditois at the year end. Ouring the year, Sandra thneen was engaged as the Sliategic Project Ao*isor, the consultancy sts incurred for this role were £Nil12023: £75.2401_ All transactions with related parb.es were made in line wilh the ChariWs Conflict of Interest policy. Pag& 35