St Raphael's Hospice
Annual Report and Financlal Statements
Forthe year ended 31st March 2024
Company Limlted by Guarantee
Company Re8lStr3tion Number.. 11732567 IEngland and Wales)
Charity Re￿StratIOn Number.. 1182636

St Raphael's Hosplce
Annual Report and Financial Statements
For the year ended 31st Marth 2024
Contents
Report5
Reference and administrative detai15
Tru5tees' report
Independent auditorfs report
3-11
12-14
Financial Statements
Statement of financial actlvities
Balance sheet
Statement of eash flows
Notes to the financial statements
15
16
17
18-31

St Raph*l's Htsspi
Annual ReFx)rt and FinarKial Statomrts
Fc* thÈ ITarended 31st March 2024
Refere￿• ar*J thlnlstratlvtr detsils ofth• Charfty itsTr
Mcwlynney
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C8 (￿air., F&F< CQ&& 11
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Slstsr V¥oni(z Hagen
pa￿ Fknlme5
Sisttr Kalhleen 0'R￿llY
htr BÉmard Madey
htr Damdl
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Josw) Ftyan Ite5igned March 20241
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HR
CQ&G
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C(rn1tt08 M8mb8rs Ms Hazd BoYfv4c* laFvintal Ckto￿2023l
ThthEd Cwk
Eva WalmLE I￿gned Ck*ober20231
Steve Mulhall Iresign&1 July20231
HR
CIWG
HR
Clerk tothoTrusto&s MacNn
Extrtulive Tgam Stevens
Jcint CEO Iw CEOto Jdy 20241
Jolnt CEO (was Clinical Director lo ju￿ 20241
C￿nmerCI¥1 Cl"rector
tlirKtor of Fundraislry arKt thmmunicab'on
Speoali51 Palliative C4r& CorNAtant
Speoalisl P3lliative Care
rector of IT arKI Eststes
Sara Ja￿ WCKKJ
Kate &"Ilin#￿M Wlson
Dr GabyTamar&Ros8 (from Septhber2022 to 20241
Dr Na(wni Collins lknm April 20241
JÈX (from Wl 20231
Ccthpany r8gi*r*i¢)rt n￿or 11n2567
Charity reg15tratlcfi nUM￿r 1182636
R8glstèrèd t)ffi￿ St Rarthad's Hosi%t4 L(xxkn Road. Chaam, SM3
Telephorn 020 8099 7T77
Emall
Ira
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Audrtor HaY5rn￿jtye LLP, 10 ￿18￿ Street P￿￿. Lor￿￿. EC4R 1AG
Prlncipa bank0r5 NatSoro1 W88kninster Bar* plc. 93 Centra Road
Worc8St8r P8rf(, S￿reY, KT4 80Z
Inv88tmènt Manyr5 Sarasin & Parth*¥ LLP, JLWI 1QK) Sl P&￿'S thurthydrd. Lo¥¥J￿. EC4M 8BU
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Fina￿ Committee IF&RI
In￿m& G￿8[ation and communicatior￿ C<Mrmitt8&11(Xl
HLThan Resouros CommitteelHRI

St Raphael's Hospice
Trustees. Report for the year ended 31st March 2024
Chalr and Joint CEO Report
The year ending March 2024 has been a difficult year for the charity. The ongolng Impèct of inflation was felt as our cllnlcal costs
rose by £478k after increasing by £664k in the previous ye8r. Thls w8$ against flat income levels and a challenÈing fundr315ing
environment and with only an 4dditional £103k provided by our NHS Commissioners. South West London Integrated Care Board
ISWL ICBI, to offset the increases over these two year5.
The risks to the charity which arise from thi5 underfunding, together wlth the evidence of the impact and importance of the
H05pice a5 part of the local health system. were expressed throuzhout the year to the ICB. Together with other local hospices,
we sought an increase in our funding level from around 30% of clinical costs to 50%, the London aver3ge.
Regretably, the ICB was unable to meet these needs and. after the year ended, the Board w8s left wlth no option but to reduce
costs. ConsultatiOnS Wlth the staff body took place during July 2024 and p13ns were finalised in August 2024 whlch reduce
oper3ting costs by £lm on an annual ba515. This included making eleven staff redundant, nine of whom were clinicians, as well
as a number of reduttions to hours and changes to roles. We are grateful to the whole team for how they have responded
throughout this difficult time. We will continue to work with other hosplces and our ComrDi55ioners in the endeavour to
Increase funding to provide stabl1Ity and continuity for ourselves and the sector.
The cost reduction exerclse addre55e5 the increased fundlng gap which arose largely from the impact of inflation, but hospice
funding remains a challenge going forward and we were pleased to recruit to our five fundraising vacancies and 8150 to the new
Head of Communications role during the year. This provides us with a strong foundation lor growing our income in the coming
vear5. We also saw the flrst phase of our campaign to grow our lottery income succeed in its target of 1,000 new plays, setting
the scene for 3 continuation in 2024.
Our plans to extend our retail estate Included opening two new venues In 2023-24. The new "donation station" Is locèted
OPP051te our pre-existing store whlch we h4d to vacate for development. It has enabled us to retain our vital volunteer team as
well as ensure continulty for donor5 who drop off goods, whllst 31$0 enabling us to open to furniture s31es. We 31so opened
new clearance store in Morden and have been dellghted with how this hzs been received In the community and the exceptlonal
sales it has achieved.
Our cllnical and IT team worked well together to move the patient administratlon system to Emis, a pl4tform used by local GPS
and hospitals and also neighbouring hospice5, in May 2023. Thi5 was 3 hugÈ task and we h4ve been delighted wlth the 5tnooth
transfer and with the data sharing capability this has enabled. In October we were subject to a "ransomw3re attack. which
locked up our entlre system. Our IT team worked overnlght to restore the systems and minimlse the impart on our operations.
Worklng closely with the relevant authorltlÈs, the charity alerted those whose data had been put at risk and provided free
access to rnonitoring services to provide rea55urance. lrnprovernent5 and changes to our IT system infrastructure and our data
holding are being implemented.
Throughout the year. our tlinical teams maintalned a hlgh standard of care achieved in the prevlous years and supported more
than one In every four people who dled In Merton and Sutton boroughs Wlth our specialist clinic41 care free of charge. We a150
provided farnily mewnbers and other loved ones with our Counselllng Service, Social Work, Wellbeing Centre and Hospice
Neighbours te8ms 31ongside the 4d¥ice and guidance from our Community Specialist Nursing, Medical and In-Patient teams. In
all. we were there for over 2,400 people in 2023-24 and we are very proud of out team'5 Posltive contribution to our
comrnunity.
As we look forward to 2025, and beyond, we are confTrdent In the qualities of the services we dellver despite having reduced
costs slgnlficantly* rnuch of which has been in clinical service5. Our expert and experlenced, specialist nursing and medlcal staff
will continue to serve all the referrals that we would normally receive Into our Comrnunity team for our speciallst end of life and
palliative care. Our in-patient unit has not been affetted and we are pleased that our Wellbeing Centre will continue to be open
as before to provide a warm welcome. attivities and advice to those living wlth Ilfe-llmltlng ¢onditions in our communlty. Our
Psychological Support, operating from a newly created hub on our slte. wlll continue to provide speci31ist Intervention, free of
charge, through more than 1,200 sessions each year.
In August 2024, the Board were pleased to announce that our Cllnlcal Director, Becca Trower, would step up into a new joint-
CEO role whilst retaining her clinical responsibllltles. B@c¢a led on the publicity that arose locally and natitsn4lly as St Raphael's,
along with 20% of hospices in the UK, wrestled with the impact of inflatlon by reduting costs. She w35 interviewed as the
h05pice featured on 88C London and BBC Morning news èlong with Channel 5 news. These TV reports Included powerful
interviews with patients and volunteers which helped to raise the profile of the Hospice and the Sector.
The increased visibility that has arisen support5 the central element of our five-year strategy of "EVE. lexcellence. vlsibllfty and
engagement). As the team begln to prepare a new strategy to take the H05pice through to 2030, we will strlve to translate that
visibility into engagement with all elements of
mmunity in order to galvanise support for our Hospice and so ensure that
we can continue to serve the people of Merton
utton long into the fut
A_M,
Norman Mcwhinney, Chair
k Stev
nd Becca Trower, Joint-CEOs

St Raphael's Hospice
Trustees, Report for the year ended 31st March 2024, continued
The Trustees, who are also the directors of the charitable company for the purposes of cornp3ny law, present their report and
the financial statements of St Raphael's Hospice for the year ended 31 March 2024. Thls constltutes the Strateglc Report for the
purposes of company law.
The flnanclal statements are presented in a¢cordante with the accounting policies Set out on page5 19 to 22 therein and comply
with the Mernorandum and Articles of Association of St Raphael's Hospice and United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Pr8Cticel and Accountlng and Reportlng by Charltles.. Statement of Recommended
Prattice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland IFRS 1021.
Achievements for the year
In t)ui report for lasi year there were three major 5trand5 to the plan for 2023.24:
l. Consolidate Qu81itles and Wlden Reach
2. Embed Fundr8ising Into the culture of St Raphael's
3. Grow our Commercial income
l. Consolldate Quolftles ond ￿den Reach
Embedding excellence now forms part of the foundation for all activity at St Raphael's Hospice. An excellent Service is what is
eeded by all the residents of Merton and Sutton whether as a direct beneficiary or by way of reassurance that. should we ever
be needed, we will be there for each and every person.
• We have continued to broaden the reach Of our charity by developing our CornrDunity Engagement through the Wellbeing and
Cornpassionate Neighbour5 service5. We also recruited to, and progressed the plan to implement the Bereavernent Pathway
service which 15 designed to provide a curated journey from preparing for the death of a loved one. through navigatlng the
turmoll of grief and movlng forward to a place of new stability and the ability to recognise and Cherish the memories of lrfe.
2. EmbedFundn7ising into the culture of StRaphuel's
We 5ucce55fully built a team around the new Llirector of Fundraising and Communication. recruiting to the vacant posts of
Corporate Manager. Community and Youth Manager, Philanthropy Manager, Appeals Manager and Legacy and In-memory
Manager. We also recruited a Head of Communications following the departure of our manager.
We moved the Fundraising the Communication5 team into the Hospice building to ensure that they are fully integrated into
the charity and that relationships with clinical and other colleagues can flourish.
We began the development of the Fundralslng elements that connect into the 8ereavement Pathway Including a memorial
space, book of remembrance and bespoke events to mark and build lastin8 mernories.
Gmwour Commercial income
This was a very active year for the Retail te3rn as we had a very successful opening of a new"Clearance Store" on Morden High
Street and oversaw the fitting out from "shell state" of our new Donation Centre in sutton. whilst the original store 81so carrled
on throughout the year. We establlshed a new Furnlture collectlon and Delivery service and added a Wedding Department to
our Wimbledon Park shop.
After 3 long search, we successfully recruited Britevox as the agency to promote and grow our lottery over the coming year5.
Currently, fewer than 2% of the adult population of Merton and Sutton play our lottery 8nd we belleve that thls support base
can be Increased. Connerting with our community through the lottery will also provide a route to raising the profile of the
H05pice more generally and potentially increase our donor support as well.
Finonciolrewew
Overall the charlty had a shortfall of £1,198k for the year compared with a shortFall of £396k last year.
Donation income fell by Il% to El.67m 12022-23= £1.88ml and legacles fell by 3% to £1.59m from 12022-23.. £1.65ml.
Comm@rclal income Iretail and Iotteryl grew by 16% to reach £2.08rn12022-23.. £1.79ml, though costs a150 grew significantly.
Incorne from Charitable Activitie5 was level at £1.70m12022-23.. £1.70ml.
Cllnical costs rose by £478k to £5.74m12022-23 £5.26rnl, and this was largely inflation driven increases. The fundraising team
and cost5 Ipart of our Income Generation costs) rose £37k to £910k 12022-23-. £873kl. However. our Commercial Income
Generation costs rose slgnlficantly. Lottery costs were up £62k as we Invested in a campaign to increase players. We had
planned Cost increases of £400k for rent, staff. logistics and set-up Costs as we grew our retail estate and created the new
Commercial Oirector role. However. retail costs rose by 8 further £123k as. for much of the year we ran the new Oonatlon
Centre alongside the pre-e¥isting centre. These costs have now settled and are 12% down in the new financi31 year. Overall Total
costs were £8.86m which amounts to an 14% increase over the previous year12022-23= £7.76ml.

St Raphael's Hospice
Trustees, Report for the year ended 31st March 2024. continued
Finonciulrewew, contlnued
AcqulsitlOT15 and disposals of fixed a$5et5 during the year are re¢orded in the notes to the balance sheet.
The charity's cash balance at the end of the ye8r amounted to £1.6m12022-23'. E3.7ml of which £1.4m related to the delerred
income creditor12022-23.. £1.9rn1. In addltlon the charity held liquid investments valued at £1.7m12022-23'. £2ml.
Reserve5
Total funds 3t 31 March 2024 arnounted to £4.28m12022-23.. £5.48ml including designated fund5 of £1.18rn12022-23.. £1.25ml.
The designated fund is represented by the net book value of tangible fixed a55ets which are used in the day to day work of the
Hosplc@ and arnounts set 8sid@ for fixed asset acquisitions In the next twelve months. and hence, the fund is not avallable for
working capital commitments.
Free reserves are that element of unrestricted funds which are 4vailable for future spending and are therefore calculated by
taking the total unrestricted funds of the charity 4nd deducting any balance5 not available for future spending, including
deslgnated fund5 which have been set aside by the Trustees for a particular purpose. The Trustee5 have decided that the
required level of free reserves Should be between three- and 5ix-months' operatlng expenditure which is between £2.2rn and
£4.4m.
The free reserves at the end o* the year amounted to £3m12022-23= £4ml and therefore the Trustees are happy that this Is
sufficient for the charlty's foreseeable needs.
Investments
The Trustees have an Investment Policy which meets the Charity's obligations under the Charities SORP FRS102 to ensure èn
effective system for the inve5trnent of cash, the transmitting of timely and rellable cash flow forecasts to the Trustee5 and
ensuring the compliance with relevant statutory and regulatory requirements. The Policy is fully compliant with the
requirements Set out in 'CC14.' Charitles and investment matters.- a guide for trustees, published by the Charity Cornrnission.
The Trustee Board holds overarching overslght of, and accountability for. the charity's approach to cash m#na8ernent.
investment and reserves. The Finance & Resources Cornmittee is responsible for reviewing and monitorlng the charity's cash in
hand, cashflow forecasts. approach to investments and re13ted perforrnance on a regular basis. St Raphael's Hospice employs
the services of investment managers, Icurrently 5arasin & Partner5 LLPI. who provide updates on the performèn¢e of St
Raph4el'5 Hosplce's investments and advice on how return5 can be achieved In Ilne with the charitws overarchlng approach.
In 8¢¢ordance with the constitutional objects of the charitvi the Trustees have Instru¢ted the investment manager to be
5en51tive to the ethlcs and religious principles of the Catholic Church. They are instructed to try to avoid any investrnents in
contraventlon of these and to highlight areas of potential sensltivity. The Investrnent managers are also encouraged to engage
3Ctively with the underlying comp3nles on these issues. Partlcular ¢on¢ern will be attached to Issyes related to the protection of
human life and human rights. as well Is (5iscrirninatlon agalnst any sectors of society.
Golng Concem
The Board and the Finance and Resources Cornrnittee regularly revlew the short- and rnedium-term financial forecasts and
conslder various scenarios and assumptions. The overall shortf311 of £1.2m was greater than expected, by £200k. due to lower
income levels. Tot31 costs were on budget but a variance was experienced between cost centres. The costs of our charitable
Services was £300k above budget and retail c05t5 were £130k above budget. These were offset by below budget costs for
fundralsing I£ISOkl and Investing in the future of the lottery 1£280kl. In the absence of agreement from our NHS
Coinmi55ioners. SWL ICB, to increase our funding to the London average levels, the Board acted within three months of the year
end to lower operating costs by £lm. Thls ensures that our cost base returns to a rnanageable level.
The strategy of -EVE" 15 designed to ensure Excellence in all that we do, ralslng our Visibility acro55 Merton and Sutton and
taking every opportunity for Eng8gement with our cornrnunity. in order to raise the funds that we need. It includes plans to
Increase donor income, 8nd we have recruited a team of fundraiser5 and Created a focussed Director role, in order to achieve
thi5. Inve5trnent is In proEre55 to grow the base of Lottery players and hence increase intome and contribution over the coming
years. We are also planning to increase the nurnber of retail outlets, whilst keeping a close control over ¢ost5, 50 that retail
contrlbution also grows. These measures, coupled with the cost reductions. will provide the charity with a sustainable future
which indicates a surplus from 2027-28.
The Trustees, therefore, remain satisfied that the Hospice'5 financial prolettions, which indicate 3 sustsinable future, are
reasonablÈ and that there are sufflclent funds in place to contlnue operating and to rneet liabllities as they fall due for the
foreseeable future and that the balance sheet is sufflclently robust to allow the Hosplce time to respond effectively If income
projections deteriorate significantly.

St Raphael's Hospice
Trustees. Report for the year ended 31st March 2024, contlnued
Plans for 2024-25
l. Reduce cost und mointain service
We will agree and implement a plan to reduce the annualised operzting cost level by £lrn. We will consult with staff over the
plan for thi5 change and seek to tninimise redundancie5 that will arise and also tninimi5e the impact on Service deliveryi service
qualrty and service levels.
We will focus on cost control and income growth for our retail estate during the year and pause the plans for growinz the
number of shops. This wlll ensure we are dellvering a strong contributlon toward5 the cost of running the charity which, having
achieved, will enable us to resume the plans to grow the estate.
2. Muximise the impoctoAlncretssedprofile byengttgement with ourcommunity
In line with the Strategy of EVE, we will seek to tn4ximise the impatt of the news that we are needing to reduce costs in
response to inflation lead cost rises and with little additional funding from the NHS Commi55ioners.
We will follow up this increase profile with 8 variety of activitie5 designed to engage with all elements of our community and to
build relationships that can result in a growth in committed volunteering and a growth in regular and spontaneous givin8.
We will continue to grow the nurnber of players for our lottery by engaging an agency to run a Campaign with a target to
recruit 2,000 new players.
l Revlew the Strotegyfvr2025.2030
• Whilst continuing with existing plan5 to grow our profile and income, we will review the strategy of EVE with a view to re-
setting it for the context of the coming flve year5.
We wlll consider new commerclal avenues for generatlng adtlitional income including potential contraas which would utili5e
our addition41 in-patient capacity.
We will consider how we may flnd opportunities to collaborate more closely wlth neighbouring hosplces $0 that efficlent
operations can be achleved with lower overall e05t.
Strurturei governance and management
Constitutlo*7
St Raphael's Hospice 15 a charitable company limited by guarantee1117325671 Incorporated on 18 December 2018 in England
and Wales. It is registered as a charity with the Charity Commission111826361. It5 governing document 15 its Memorandurn and
Arti¢le5 of Association.
Choritoble objerts
The object of the charlty Is the relief of illness and suffefing in accordance with the teaching. rltes and practices of the Catholic
Church. by..
l. The provision of palliatlve Care, treatrnent or relief of people of all ages with active. progresslve or advanced illness on the
basi5 of need regardless of their religious, cultural or ethnic background,.
2. The provlsion of care and support to those who have experienced loss and bereavement, in particular families, friends and
carers.,
3. Conducting, promoting or commissloning research into the care, treatment and relief of people suffering from advanced.
active and progressive illness and by providing for the dissernination of the results of such research,. and
4. The provision of education and training for professionals and volunteer5 engaged in palllatlve care.
Publlcbenefit
The Trustees glve Careful consideratlon to the Charity Commission'5 guidance on publlc benefit when setting the H05pice'5 aims
and objective5 and planning activities. St Raphael's Hospice contracts wlth South West London Cllnical Cornrni5sioning Groups
ISWL CCGI to provide support to people whose GP practice is based wrfchin the London Boroughs of Merton and Sutton,
population of around 420,000. We support rnore than one person out of every four who die each year in these boroughs and
access to our Services is on the basis of need and open to #nyone via referral from a healthcare professlonal, or, in the case of
bereavement support and the new Living Well prograrnme. self-referral. There is no charge to patient5 or their familles for 4ny
of our care servlces. In addition to the direct benefit there is an indirect benefit to all resident5 who can be re8ssured that the
Hospice will be there for them or for theii loved ones, should they ever need it.
Referrals for hospice Services are accepted for people with a life limiting conditlon who are entering the last twelve months of
Ilfe and who require speclalist palli3tive and end of life care. For Instance, they may need help wlth=
Symptom control
• Psychologic81 or spiritual issues
• Terminal care
Difficult decision5, advanced care planning, or conversations about managing end of life care

St Raphael's Hosplce
Trustee5' Report for the year ended 31st March 2024. continued
Publk benefl¢ continued
Support for family or friends
Clinlcal and nursing care provided by the Community team alongside practical and companionship 5UPPOrt provlded by
Hospice 4t Home or by our volunteer Hospice Neighbours in their home
Wellbeing and Llvlng well services for patlents and other self-referred ¢omrnunity members together with their carers
The Hospice Supports adults in Merton and Sutton v4ho have been referred to the Hospice and have agreed to that referral. If
they do not have the mental capacity to do so we will consider how we ¢an help meet their best Interests within the context of
legislation such as the Mental Capaclty Act, Mental Health Act and Deprivation of Liberty 8uidaDce,
Families, carers or those close to a patient accepted for hospice servlces Can be referred or access certain services in thelr own
right. when they are affected by the patienys illness or de8th. These include bereavement support and counselling, attendance
at the Men's Den, Living Well and other sessions held In the Wellbeing Centre.
The Trustees
The Board of Trustees (which constitutes the Board of Directors for the purpose5 of the Companies Act) tomprise5 3 mlnimum
of five and a maxirnurn of twelve Trustees, of whorn a majorlty must be Catholic. They should meet a5 a Board at least five times
per year. The Board is guided in its governance by an Independent, qualified Clerk who performs Company Secretarial functions.
The Board delegates power5 and responslbilitie5 to the following committee5.' Clinical Quality and Governance,. Finance and
Resources,. Income Generation and Communic4tions and Human Resources (which Is also the Remuneration Committee). Terms
of reference define responslbilitie5 and delegated authority and are reviewed regularly by the goard.
The membership of committees is made up Of Trustees, independent advisor5 who are selett@d for their Specialist expertise and
senlor managers of the charlty. Minutes of committee meetings are circulated to the Board and Committee Chairs provide
report to the Board on major i55ue5 and decisions.
Environmentul. s￿l01￿￿d(0rpOrnte Governunce
There is a frarnework for &08rd self-review and skills audit which draws upon the Charity Governance Code for smaller charities
and the outcome5 of the self*valuation are used to inforrn plans for Board and Committee 4gend3S. trainlng opportunities. and
further recruitment. There 15 a formal process for the recruitment of new Trustee5 andlor Committee Member5 who are needed
to fill skills gaps and vac4ncies a5 they arise. E¥ternal advertislng in suitable media 15 employed with a forrnal intervlew process
tsking pla¢e before a candid8te is proposed to the Board. A sitnple rnajority declsion of the B03rd is requlred under the
constitution in order for an appointment to proceed.
New Trustees and Cornrnittee Members attend an induction evenlng to be briefed on the charity and meet colleagues and thev
are provided with Charity Commission guide5. They are required to undertake mandatory training on a fegular basis using the
charity training port31, Duty of Cèndour 4nd level 2 Safezuarding for Adults tr81ning 1$ also available and encouraged with one
Trustee required to undertake level 3 Safeguarding in order to serve as the Board's Safeguarding Lead.
The Trustees recognlse that St Raphael's Hosplce serwes the whole, diverse population of Merton and Sutton and are proactive
in seeking to represent the whole community effectively. Tralning in EDI (equality, diversity and in¢lu5ionl has taken place o
two occasions In the last 12 months for Trustees and staff and a Steering group ensures EDI has 4 platform across the whole
organi5ation. We are engaging at Senior level with leaders of different communitie5 4nd faiths 3cross our geography in order to
learn and adjust our services accordingly. We are also developlng our Community Engagement serwice through our Wellbeing
Centre and the Compassionate Neighbours programme which is designed to Increase our ability to connect with and to serve
the whole of our diverse population.
The Trustees are also constiovs of our broader responsibility to care for our community by caring for our envlronrnent. We were
early adopters of profe55ional quality battery operated gardening equipment which reduces nolse and futnes for our patients
and vibratlon risks for our team. They are a150 low maintenance ènd have lower running costs. In the Same vein we have two all-
elettric vans for our Retail distribution and have a third for our facilities and OT team5 Idi5tributing equipment to patients in
their homes). We have installed two electric charging points and operate a hybrid pool car for all staff to use on Hosplce
business. Our recent refresh has upgraded the H05pice Ilghtlng to digital technology and we are seeking funding to in5ts11
additional solar panels to those we already have in order to Contribute into the Natlonal Grid and save funds over time.
The charity has purchased insurance to protect Itself from any loss arising frorn the neglect or default of its Trustees and
Employees and to indetnnify the Trustees or other Officers agalnst the Consequences of any neglect or default on their part. This
forms part of the organisatlonal insurance premium whi¢h arnounted to £1.732 12022-23 £1,619) and provides public and
employer cover up to a maxirnurn of £IOm.

St Raphael's Hospice
Tru5tees' Report for the year ended 31st March 2024. contlnued
Key MonagementPersonnel
Key managernent personnel comprise the trustees, and the Executive Team. The Board of Trustees is responsible for the running
of the charity and delegates the operational activity to the Executive Tearn (which comprises the CEO (Joint CEOS from 1st
August 20241. Clinical Director ljoint CEO from 1st August 20241, Commerclal Director, Director of Fundraising and
Communications. Direttor of Quality and Governance and the Oirector of IT and Estate511 whose pay is reviewed annually by the
Remuneration Committee. Salary levels are set with regard to 5irnilar roles in other local charitie5, including other h05pices. The
Lead Consultant lon rotation) Is also a member of the Executive Team but their pay follow5 the NHS pay formul?.
Imitation of11oblllty
Members of the charlty guarantee to contribute an amount not exceeding £1 to the asset5 of the charity in the event of winding
up. The total number of such guarantor5 at 31 March 2024 was 912022-23.. 101. The trustees are members of the charity but thls
entitles them only to voting rlght5. The Trustees have no beneflclal interest in the charity.
Pnnclpjl rlsks and un¢ertolnties
The management of risk remains a key prlorlty for the Hosplce. Risk assessments are undertaken for every aspect of its
oper3tl(>n ranging from clinical risk 8ssesstnents, which are undertaken on a continual basis, through health and safety
asse55ments for everyday tasks to comprehensive assessments of all aspects of major fundraising events.
Staff continue to be dedicated to the prevÈntion, identificatSon reporting of incidents. accidents and near mlsses. The
Hospice has an effettive feedback infrastructure includlng governance and clinical management rneetings that review the
attions and learning points identlfled in previous in¢idents to ensure that improvement rernains continuous. The reportSn8
system is supported by the electronic patient record whlch remains a corroborative source for the reporting of patient incidents.
The Board of Trustee5 review the corporate level risk register, prepared by the Executive Te4m. on a regular basis and each
Committee reviews the relevant 115k register for that discipline The principal risks facing the Hospice and the steps belng taken
to mitlgate them are as follows..
I￿O￿- irwrfident IntomÈis ra￿edtOdel1¥era￿rrkn#r1tah￿a￿￿fleS:The bk)spI￿ needstoraise *Dund 75%of thetota runni1￿C05tsfrOM￿01untWY
Sour￿$.￿7thth2 25%bEl￿£ranted bythp NHS.Th2relsa tontyrwl riskthat1￿Lrfffic*rtlrKO￿ets1t￿er31¢d toco¥erthis8ap and th¥e
pa￿￿4￿￿1an￿0￿￿￿I1*￿SDfleÉl￿lrthTr*Whlth ￿oUts1dethec<*htr¢4Qftheth3rfty.
The TruStÈesunGlthe Executlvetettm havesetLTtargetlevÈlofopEratlng C05h th4tisdff4TnedtoenobleittO fflonoqetbeyluctuotions of inromeyeoronyeor. Iti5
diverslfvin9its incomesrreGmsttndi5pfo￿ct￿ve In seekitsgnewwo>s to rulseoddlt￿ng1TegV1orIncorne. lnudd￿n fo rhlslevelolreserve. theN0s￿tt ttlsoh951T
defrrrediniome &olLTnce tsf £1.4m (whirh 15rewesentedby￿5h otbonkl which ￿ intsnded to oftsÈtthefvrecos¢shortfollsttriSingovfrthenextthree yeuT5 whitst
thechorityunderrakESitSStrOtegyfjf EVE. ThlsstrotegytsdesignedtOiiicretrsÈincomeandochleve Gsu#uinablE Ievelof regul0r1￿￿&i￿gthQrdDeSA0tr£IY￿Pon
exceptiongljegocylevels Ibvhich iscurrently05sun￿dt0bE t7nnvoltotollegGtlf5 inexcess of£l.3n>J.
Pe￿e- Inabllltytoremif(and retaln spedallststafF4alt￿tabO[￿drwOfan 38ln8Staff w>lvldespro*lsWageolqualffiedstsff.
The TruSteÈ50ndthe ExecutNe tÈitmmonrtormomle, stGJlbenefits. remunerntitin ondengagemertt tbrough5tgJf surve￿ exttlrttÉrviekV5. regulurHeods of
DeportmÈyrtmeellnos ondttymforopen communicotitin thTougboutthe tÈom. Internoltrolnlno &nddevfflopmentopportunltlesuTff de￿ne￿ rom0￿m￿¢W0rk
sotisfvrtionondfle￿{b11ttY￿n kvorkinghours Isfvcilitute(IwherEverpossiblE. Wf roensurethtttwort4ifebLTlonce Ispositive, worklngenvlronmenttsimprovlng.
our5toff/putlentrotiO rEmQin51owondollclittitalttfjff recelvesUpe<vi5￿￿. We NHSAgendoforChonoesol&ryleve15 gndhove Improvedothertermsoné
rondibons. WerÈcoglY15E that rhe Impttttof theco5t-reducttonexÉrr￿e ￿lI￿ave ImpGrtedmoTole Llndudds tothÈnsk5<Troundstoff retentrdnandrecrultmertt.
ITand Dats.The ItsW￿lSTeI￿ffl upon its ￿infraSt￿￿￿￿￿sysleff￿,da￿rnJna8e￿rttand￿?tsConned%￿tyl￿dellYe￿r￿￿5Sè￿&￿ltheSe5¥Jt•Trts¥e
atrt5kOffa1￿or1lth￿u￿Q￿th19Ygh rnalidou5 oratddentsi interventhn. plrttingpat￿se￿￿art￿￿#ts atr¢sk
robu5tback-upswstÈmi5inplace wlth 02-3houTtUrnoroundforcrttitalpgt￿￿tInf0rrnUtI0rt. t￿rewerIenCe6C￿de￿PÈrtte￿￿U￿eSUpplernetttÈ￿by<r24/1
5UPPQrtservlce with unexpertconsultttrttythotwfjsinvofvedwith theln5tol1gl￿n gndcortfvgUTOtiono/oursystems. ffj5k i55preadbythe use olmuttipleserve
ndLTf0llDverptsbver59￿r(E. Antl-vlrus &Ont￿m￿A¥are$oftWts￿eis Usedonallsen¢rs& tOmputer5. updGtedinrÈol-tiffte. FirewullscontrolunGvthQr￿ede￿rry
omthelrtternÈtund WE&lllterlngstsJtworeprevEnts usetsfroffl occe55￿￿9 unso/e wÈb5tie5. Staff L7reedtsc&tÉLltoowldr15ksfromphishingottocksbockedupby
regulorsimuluttQ115 loensuie compliGn(e Mondotorytrnyninginclvdes rybersecufityfvrqllstoff.
CllnkolQutslityAssuronce
Greèt Importance is given by the Trustees to the H05pice's clinical govern3n¢e afrangernents. The Clinical Quality and
Governance Committee meets four times each year and monitor5 the activities of the sub-comrnittee5 and recelves detailed
feports from Clinical Director. the Director of Quality and Governance and feedback from the Medical Consultants. In addition
to providing an opportunity to thank the man4gers and their staff for thelr contributions to the success of the Hospice, the
Committee is able to demonstrate engagement and account4bility. to manage patient safety, to gain insight and to rnanage the
risks facing the Hospice.
The Committee receives the minutes of the following Hospice committees and questions the relevant Senior staff..

St Raphael's Hospice
Tru5tees' Report for the year ended 31st March 2024, continued
CliniculQuolltyAssumnce, ¢ontinrRd
The Infection Control Committee steers the Hospice'5 approach to infection prevention and control. Chaired by a Consultant
Microbiologist from the local acute Trust, it rneets betweÈn two and four times each year. Standing items for the Committee
include sharps injury and bodily fluids exposure- alert organisms suNeillance, water management. occupational he31th update.
regulatory 3nd best prattice requirements.
The Drugs and Therapeutic5 Committee focusses on all medicine issues including management of Control Drugs ICDsl,
Medicines Incident Analysis, staff cornpetency. service and pr8Ctice developments e.g. nurse prescribing and patient self-
administration. policy and guldeline review. and medical gases. Each meeting is attended by an independent pharrnacist who
a150 8udlts all aspects of medicines managetnent every fortnight. The Chief Pharmacists frorn Merton and Sutton CCGS are
invlted to attend or send iepresentatives, and recelve the Minutes of the committee's meetings 8s routine. The mlnutes are
Included in the Merton and Sutton Mediclnes Management Committee. To inform the management of medicines the
Accountable Officer (CD AOI attends the regional Accountable Officer Local Intelligence Network Meetings; Incidents involving
controlled drugs are discussed with the committee.
Health and Safety Cornrnittee Iwhich includes Water Quality as a regular agend8 Iternl receives report5 from managers
Involved in health and safety matters across the range of Hospice activities and reviews incldents to ensure good practice
evolves and improves on a continual b8sIs.
Core Quolltycommisslon fCQCJ
The most recent inspection of the Hosplce by the CQC w8s In November 2019. The subsequent report was published in April
2020. Whi15t noting a number of areas of outstanding prartice, the report 4lso recommended that the carpet in thÈ IPU be
replaced and that the navigation of the electronic notes System be improved. Actlons to comply with these recommendations
have been tsken the flooring was renewed as part of a wider IPU refresh in late summer 2021. The complete text is
available frorn the CQC webslte or via the CQC"widget" on the Hospice website's homepage.
We are pleased that the qu31ity of care was recognised as being 'Good" in all of the S domains of care: namely th4t our services
are safe, effective. carlng, responslve to people's needs and well-led.
Complulnts
All complalnts or cornrnents about the service provided are taken very serlously by the Hospice. Comp18Ints are dealt wlth in
line wlth the Complaints Policy and are fully investigated and reflecting on cornplaints Is one of the ways we seek to maintain
stsndard5 and improve practices. All complaints are ieported to the CQ&G Committee and onwards to the Board of Trustees.
Our incident reporting system, Datix, was 18unched in 2021 and successfully tr8nsferred to the cloud in 2024. Thls has provided
a simple and transparent mechanism for recording incidents across all parts of the charlty, monitoring mÈasures taken tts
address thern and changes implemented to reduce risks of recurrence.
Employees
St. Raphael's Hospice 15 an Equal Opportunities Employer and applie5 objective crlteria to assess merit. It aims to ensure that no
job appllcant or employee receives less favourable treatment on the grounds of age, race, colour, nationality, religion. ethnic or
natlonal origin, gender, marital status, sexu41 orientatlon or disability.
Selection crlteria and procedure5 are constantly reviewed to ensure that indlviduals are selectedi promoted ènd treated on the
basls of their relevant merits and èbllities. All employees will be given equal opportunlty and where appropriate and p0$5ible,
special training to enable them to progress both within and outslde the organisètlon. St. Raphael's H05pice is committed to
programme of action to make this policy effective and to ensure that it is brought to the attention of all employees.
The workforte 15 predomlnantly female wlth women rnaking up 81% of the total12022-23'. 86%). This ratio is marginally hlgher
arnongst the upper pay quartile where 86% are women12022-23.. 85%). The 'Fnean pay" for women is Il% above the men12022_
23.. women same as menl. The 'median pay gap is -16% 12022-23.. -10%) arising be¢au5e a higher proportion of men144% of
the total- 2022-23- 25%] work within the lower pay quartile.
Puy
St Raphael's allgned clinical pay with Afc rates including the Outer London Welghting allowance with effect from October 2021.
As a result the clinical pay Is now on a par with our competltors in the market and is transparent and consistent a¢ross all clSnical
teams. Thi5 ha5 enabled the charity to retsin its experlenced and speclalist team and also recruit to vacancies when they arise,
reducing the risk to our service delivery. Pay increases follow the NHS settlements. For other staff the Remuneratlon Committee
reviews the levels in the Ilght of the prevailing market conditions and ba13nces affordabillty with the need to retsin and recruit
skilled staff who can deliver on the strategy of EVE.
The annual pay review was prepared by the Executive znd agreed by the Remuneration Committee in january 2024. It was
ratif1ed by the Board on 20 March 2024. It affected only non-clinical staff metnbers as the clinical team had been aligned to Afc
rates and increments. At the time of preparatlon, the wage inflatlon level was 7.7% although CPI inflation had dropped below
5%. As in previous years. a blended approach was taken with a higher increment awarded to lower paid staff. In aggregate it
amounted to 5.2%12022-23.. 5%1.

St Raphael'5 Hosplce
Trustees, Report for the year ended 31st March 2024, continued
Poy. contlnued
Permanent staff on the lowest wages received a hlgher award of io%12022-23.. 7.8%>. Thls moved the lowest pay per hour Iphl
for permanent staff from £ll.OSph from E12.19ph 12022-23.. frorn £10.25ph to £11.05phl. Our lowest level for bank staff
increased by 6.4% frorD £10.75ph to £11.44ph which met the latest Government rninimurn living wage level of £11.44ph12022-
23.. £10.42phl regardless of the age profile of those bank Staff. Thls wa5 done in recognition of the vital role played by all
members of our tearn and the high cost of Ilvlng in the outer London area.
Employeepmfile
At the year end the Hosplce had 152 contracted ernployee512022-23.. 1411 of whom 53 were full time and 99 part-time12022-
23.. 51 and 901. The Hospice also has 35 active bank staff who do not Want to comrnit to working specific regular hours and are
offered work as and when the need ari5es12022-23'. 281.
The age profile of Hospice clinical staff is shown in the table below. There remain a high proportion who may choose to retire in
the coming five years but the risk that this has posed is diminished as recrultment ha5 become more reliable.
ainlcal Staff ByA<e
Er33
A5at 31 March 2024
Asat 31 March 2023
22
Asat 31 March 2022
21
19
Asat 31 March 2021
18
27
Asat31 March 2020
16
Voluntsers
St R8phael's Hosplce relies on a large number of Volunteers who freely contrlbute their time and expert15e. They impact and Sdd
value to all areas of our work and thi5 15 hugely appreciated. Followlng the decline durlng the pandemic we are delighted th8t
numbers and overzll contribution has contlnued to increase and we are particularly heartened by the growth in the numbers of
P3tient-facing, Hosplce Neighbours and retail volunteers. We e5tirnate 792 volunteer roles undertaken in the year amounting to
61,519 hours of given time 12022-23.. 735 roles and 51.321 hours). Thls provides an estimated financial value of between
£800,000 and £900,00012022-23.. between £700,000 and £800,000), an extraordinary achievement.
The breakdown of volunteer roles for the Hospice activity the year was as follow5..
202>24
2WiI-22
Re￿ptiOn
Office and￿￿Ministration
Warcland Patient-faclng
Fbwer5 andGardens
Psycholo8uI Supp
￿}5￿Ce ￿ghbourS and Wraph
Orangerycafé
Trustee5 andConJn￿s
Tt3inin8and ￿nIOrin8
Wellness Volunteer5
ac￿sk)nal VoluTrteers
ltspKeTrt
Shop5
FundraisinEMministration
tstal
42
41
24
24
20
18
24
38
28
io
12
14
21
14
14
27
36
27
19
13
Is
29
12
28
19
45
246
167
516
441
SupporterGrtyJp5and Events
T¢)tsi
276
79Z
735
Fundrotslnq
In¢orDe Generatlon arise5 from our commercial activlty. including our charlty shop5 and lottery, and through legacy and
fundraising whlch is undertaken by our fundraislng tearn. As part of our lottery activity we have two commercial contracts with
third-party fundraisers. Sterling Lotteries admini5ter5 and prepares reports on our weekly draw. At the end of this reporting
year we had 6.813 weekly lottery play$12022-23.. 6,5771. During the year end we also entered Into a contfact with Britevox Ltd
to recruit players to our lottery. Britevox are licensed and regulated by the Gambling Commission.
We are signed up to the Chartered Institute of Fundraising and we follow its Code ol Practice. whi15t also complying with the
Charity Commission guidance,
'CC20.. Charity Fundraislng During the perlod of this report there were no complaints or
reported f3I1ure5 in compliance with the Fundralsing Regulator or other regulatory bodies12022-23'. none).

St Raphael's Hosplce
Trustee5' Report for the year ended 31st March 2024, continued
Fundmising• continued
St Raphael's also benefits from the 5UPPOrt of indivldual fvndrai5ers who carry out activitie5 in aid of the Hospice. At first point
of contact they are asked to cotnplete an online event forrn to ensure contart details are retained and intentions are made clear.
A fundraising pack is sent whlch Includes legal advice. e.g. gambling law5 surrounding rattles. The office keeps in regular
communication with these fvndraisers and ensures funds raised are received by the Hospice as swiftly as posslblÈ.
There were no complaints received in the period to be reported to the Gambling Commission in our return12022-23.' none).
We have continued to ensure that we protect vulnerable people from undue pressure to donate or support our charitable work
we adhere to the following Fundraising Promise..
We will always tell you about how you are tnaking a difference to the live5 of our patients. thelr families and friends
We will 3Iw3VS take action if others acting on our behalf fail to meet our high standards
We will never phone you unless you have expre55ed an interest in our work
We will alw8ys chetk first that you are h8PPy to speak to U5 when we phone
We will never sell your dats to anyone else or share it without your permisslon
If you tell us you don't want to hear from us agaln, or want to hear from us less, we will alway5 respect that
Audltors
Haysmacintyre LLP. having expressed thelr willingne55 to continue In offlce, will be deemed re8ppolnted for the next financial
year in accordance with section 487121 of the Companies Act 2006, unle55 the company receives notice un(5er section 48811) of
the Companies Act 2006.
TrnStee￿re$P0nSl￿lllt1e$ statement
The Trustees Iwho are a150 the directors of the charitable company for the purp05e5 of company lawl are responsible for
preparing the trustees, annual report and the financial statements in accordance with appllcable law and United Kingdom
Accounting Standards Iunited Kingdotn General Accepted Accounting Practice).
Company law require5 the Trustees to prepare financial statements for each financi31 year whlch give a true and fair view of the
state of affairs of the charitable ¢ornpany and of its Income and expenditure for each period. In preparing these flnancial
staternents. the Trustees are required to..
select Sultable a¢¢ounting policie5 and then apply them conslstently..
observe the method5 3nd principles in Accounting and Reporting by Charities.. Statement of Recommended Practice applicable
to charltles preparing their accounts In accordance with the Flnancial Reporting Standard 8ppllcable to the UK and Republlc of
Ireland IFRS 1021,.
Tnake judgements and estimates that are reasonable and prudent,.
State whether appli¢able United Kingdom Actounting Standards have been followed, subject to any material departures
disclosed and explained in the financial staternents., and
prepare the financial statements on the going concern basis unless it is inapproprlate to pre5urne that the charlty will Continue
in operation.
The Trustee5 aTe responsible for keeping proper accountlng records that disclose wlth reasonable accurzcy at any time the
linancial position of the charitable company whlch enables them to ensure that the financial statements comply with the
requirements of the Companies Act 2006. They are also responslble for Safeguarding the assets of the charitsble company and
hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities.
The Trustees confirm th3t'.
So far as they are aware, there is no relevant audit information of whlch the charitable company's auditor is unaware,.
They have taken all the steps that they ought to have taken in order to make themselves aware of any relevant audlt
information and to establish that the charitable company's audftor is aware of that information.
Approved by the Board of Trustees ondslinedon its behalf by..
Norman M¢Whinney.' Chair
Date..
li

St Raphael's Hospice
Annual Report and Financial Statements
For the year ended 31st March 2024
Independent auditorfs report to the members of St Raphael's Hospice
Opinion
We have audited the flnancial 5taternents of St Raphael's Hosplce for the year ended 31 March 2024 whlch comprise the
Statement of Financial Actlvitie5, the Balance Sheet, the Statement ol Cashflows and notes to the financial statements. including
a summary of signlflcant accounting policles. The financial reporting Irarnework that has been applied in their preparatlon is
applicable law and United Kingdom Accounting Standards, including Financlal Reporting Standard 102 The Financial Reporting
Standard appllcable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
our opinion. the financial st8tements'.
give a true and fair view of the state of the charitable ¢ornpanVs affèlrs as at 31 March 2024 and of the charitable cornpany's
net movement in funds, including the Income and expenditure. 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 requirements of the Companies Act 2006
Basis for oplnion
We conducted our audit In accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our
responsibilities under those standards are further described in the Auditor's re5pon5ibilities for the audit of the financial
statements section of our report. We are Independent of the charity in accord8nce with the ethic31 requiretnents that are
relevant to our audit of the financial statements in the UK, includlng the FRC'S Ethical Standard, and we have fulfilled our other
ethical responslbilities in accordante with these requirements. We believe that the audit evldence we have obtained 1$ sufficient
8nd appropriate to provide a basis for our opinion.
Conclusions relatlng to going concern
In auditing the flnancial statements, we have concluded that the trustees, use of the going concern basis of accountlng in the
prepar8tion ol the financlal statements is appropriate.
Based on the work we have performed, we have not identified any materi31 uncertaintles relating to events or conditions that,
individually or collectively. may cast significant doubt on the charitable company's ability to continue as a going concern for
period of at least twelve months froffl when the financial statements are authorised for Issue.
Our responsibilities and the responsibillties of the trustees with respect to going concern are described in the relevant settions of
this report.
Other infomiation
The trustees are responslble for the other information. The other Information comprlses the information included in the
Trustees, Report. Our opinion on the financial statements does not cover the other information and, ex¢ept to the extent
otherwise explicitly stated In our report, we do not express any form of a55urance conclusion thereon.
In connectlon with our audit of the financial statement5, our responsibility 15 to read the other information and. in doing so,
consider whether the other inform3tion is materially inconslstent with the financial statements or our knowledge obtained the
audlt or otherwise appeaFS to be materlally mi5Stated. If we identify such rnaterlal Incon51Stencies or apparent material
mlsstatements, we are required to determine whether there is a rnaterial misstatement in the financlal statements or a material
misstatement of the other informatlon. If, based on the work we have performed. we conclude that there is a material
rn15Statement of thi5 Other information, we are required to report that fact. We have nothlng to report in this regard.
Opinlons on other matters prescribed by the Companies Art 2006
In our opinion, based on the work undertaken in the course of the audit..
the Information glven In the Trustees. Report (which includes the strategic report and the directors, report prepared for the
purposes of company lawl for the financial year for whlch the financial ststements are prepared Is con515tent with the financial
5tatements.' and
• the strategic report and the directors, report Included within the Trustees, Report have been prepared in accordance with
applicable legal requirements.

St Raphael's Hospice
Annual Report and Financial Statements
For the year ended 31st March 2024
Independent auditorfs report to the members of St Raphael's H05pice, contlnued
Matters on whlch V￿ are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the
audit. we have not identified material misstatements in the Trustees. Report (which incorporates the Strategic report and the
directors, report).
We have nothing to report in respect of the following matters in relation to whlch the Companles Att 2006 requires us to report
to you if, in our opinion..
• 4dequate accounting records have not been kept by the charitable ¢OFnpany,' or
the charitable company fin8ncial Statements are not in agreernent with the accounting records and returns., or
certsln disclosures of trustees, remuneratlon specified by law are not rnade.. or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees for the financial statements
A5 explained more fully in the trustee5' responslbilities statement set out on page 11, the trustees (who are a150 the directors of
the Charitable company for the purp05e5 of company lawl are responsible for the preparation of the financial statements and for
being Satisfied that they give a true and fair view. and for such internal Control as the trustees determine Is necessary to enable
the preparation of financial statements that are free frotn rnaterial mlsstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for as5e55ing the ch8rltable company's ability to continue as
going concern, discloslng, as applicable, matter5 related to going concern 8nd using the going concern basis of accounting unless
the trustees either intend to liquidate the charitable company or to cease oper3tion5, or have no realistic alternative but to do
50.
Auditorfs responsibilitles for the audit of the financlal statements
Our objectives are to obtain reasonable assurance about whether the fin8nclal statements as a whole are free from material
misst3ternent. whether dve to fraud or Èrror, and to issue an auditor's report that includes our opinion. Re350nable a55urance Is
a high level of 3ssuran¢e, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect
material misstatement when it exlsts. Misstatements can 3rise from fraud or error and are ¢onsidered materi31 if, in(fividually or
in the &ggregat@, they could reasonably be expected to influence the e¢onomic decisions tsf users taken on the b45is of these
financial statefflents.
1rregularitles, including fraud, are instances of non-cornpliance with laws and regulation5. We deslgn procedures in line with our
fesponsibllitie5, Outlined above, to detect material rnisstatements in respect of irregularities, including fraud. The extent to which
our procedures are capable of detecting Irregularities, including fraud is detalled below.
Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal
ri5k5 of non-compliance with laws and regulations related to the regulatory requirements of the Care Quality Commission,
Charity Commisslon, Gambling commi$5ion, Fundraislng regulations. Employtnent law 8nd GDPR, and we considered the extent
to whlch non-compliance tnight have a material effect on the fin4ncial statements. We also considered those laws and
regulations that have 3 direct itnpact on the preparation of the financial statements such as the Companie5 Act 2006 and the
Charities Act 2011, and consider other factor5 such as income tax. payroll tax and s31es tax.
We evaluated managemenys incentives and opportunities for fraudulent rnanipulation of the financi31 statement5 lincludlng the
risk of override of controls), and determined that the principal risk5 were re13ted to Posting in8ppropriate journal entries to
revenue, management bias in accounting estimates and the statement of opening balances. Audit procedures perfortned by the
engagement team included..
Inspecting correspondence with regulators and tax authorities,.
Discussions with management including consideration of known or suspected Instances of non-compliance with laws and
regulation and fraud.,
Evaluating rnanagement's controls designed to prevent and detect irregularities,.
Identifying and testing journals, in particular journal entries Posted with unusual account combinatlons, postings by unusual
users or with unusual descriptions.. and
Ch4llenging assurnptions and judgernents made by management In their critical accounting e5tirnates.

St Raphael's Hospice
Annual Report and Financial Statements
For the year ended 31st March 2024
Independent auditorfs report to the members of St Raphael's Hospice, continued
Auditorfs responsibilities for the audit of the financial statements. contlnued
Because of the inherent limitations of an audit, there Is a risk that we will not dete¢t all irregularities, IncSuding those leadlng to a
rnaterial rnisstatement in the financial statements or non-compliance with regulation. This risk increases the more that
compliance with a law or regulation is removed frorn the events and transactions reflected In the financi41 statements, as we will
be less likely to becorne aware of instances of non-compliance. The risk Is 31$0 greater regarding irregularitie5 occurring due to
fraud rather than error. as fraud involves intentional conce4lment, forgery, ¢ollu5ion, omission or mlsrepre5entation.
A further description of our responsibilities for the audit of the financial statement5 15 located on the Financial Reporting
Council'5 webslte at.. www.frc.org.uk/auditorsresponsibilities. Thls description forms part of our auditorfs report.
Use ofour report
Thls report is made solely to the charitable company'5 rnembers. as a bodyp in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we mlght state to the charitable company'5 rnernbers those
matters we are required to state to thern 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 charitable company and the charltable company's members,
as a body. for our audit work, for this report. or for the opinion5 we have formed.
Siobhan Holwne5
Senior Statutory Auditor
For and on beh31f of Haysmacintyre LLP, Statutory Auditor
10 Queen Street Place
London
EC4Fi IAG
Date:
5 November 2024

St Raphaevs Hospice
Annual Report and Financial Statements
For the year ended 31st Mar£h 2024
Statement of Financlal Attlvlties including an Income and expendlture account
Unrestritted
Totsl
fund5 Year
to31
March
Total funds
Year to 31
March
General
Designated Restricted
Notes
fund
£'ooo
fund
£'ooo
funds
£'ooo
2024
£'ooo
2023
£'ooo
Income and expenditure
Income from..
Donations and legacies
Othertrading activities
Investments
Charitable artivities
SWL Integrated Care Board
Other income
3,197
2,081
109
378
3.575
2.081
109
3,799
1,787
96
1.697
54
1,697
1.698
87
Total Income
7.138
378
7,516
7,467
Expenditure on:
Rai5in8 funds
Charitable activities
3,122
5,253
3,122
S,738
2.500
5.260
485
Total expenditure
8,375
485
8,860
7,760
Net gains / Ilossesl on investments
li
146
146
11031
Net lexpendlturel before transfers
11,0911
11071
11,1981
13961
Transfers between fund5
15-16
78
1681
Net movement in funds
11,0131
1681
11171
11,1981
13961
Reconciliztion of fvnds:
Fund balances broughtforward at l April 2023
4,015
1,252
209
5,476
5,872
Fund balances carried forward
t 31 March 2024
15-17
3,002
1,184
92
4.278
5,476
All of the charity's activitles during the above two financi&l periods derlved from continuing operations. A full comparatlve ststement of
financi41 activities is shown at note 24 to the flnancial Statements.

St Raphael's Hospi¢e
Annual Report and Finandal Statemer
For thè year erKled 31st Mar¢h 2024
Balan￿ Sheet
Notes
2024
2024
2023
2023
£'ooo
£'ooo
£'ooo
Tangible assets
Fixed A$5et Investments
io
971
857
li
1.672
1,966
2.643
2,823
Current assets
Debtors
12
2,058
1.406
Cash at bank and in hand
1,619
3.682
3,677
5.088
Credltors: amounts falling due within one year
13
11.1391
11.5321
Net current assets
2,538
3.556
Credltors: amounts falling due after more than one year
13
19031
19031
Totsl net assèts
4,278
5,476
Represented by:
Funds and reserves
Income funds
Restritted funds
15
92
2119
Unrestricted funds
Designated funds
16
1.184
1,252
General fund
17
3.002
4,015
Total funds
4,278
5,476
Approved by the Board ofTrustees on..
and signed on its behalf by Mr Norman Mcwhinney (Chairl..
St Raph3el's Hospice, a tharitable company limited by 8uar3ntee'. Company Re8lStratlon Number.. 11732567 (England and Wa￿51,. Charity Registration
Number.. 1182636
16

St Raphael's Hospice
Annual Report and Financial Statements
For the year ended 31st March 2024
Statemènt of Cash Flows
Year to 31
March 2024
Year to 31
March 2023
Notes
£.￿)0
£'ooo
Net cash provided by operating activities
12,301)
14401
Cash flows from investlng artivitie5:
Investment incorne
Purchase of tangible fixed assets
Purchase of investments
Disposal of investment5
109
13121
1591
500
96
12781
1521
Nèt tash provided by (used in) Imiestlng artivities
238
12341
Changè in cash and cash equivalents In the year
{2,0631
16741
Cash and cash equivalents at l April 2023
3.682
4,356
Cash and cash equivalents at 31 March 2024
1.619
3,682
A.. Reconclllation of net movement in fvnds to net tash prov5ded by operatin8
actlvlties
Year to 31
March 2024
Year to 31
March 2023
£'ooo
£'ocx)
Net movement In funds las per the ststement of financlal artivitiesl
Adjustments for:
Depreciation charge / amounts written off
Investment income
Net Igainllloss on investments
Ilncreasel/Decrease in debtors
(Decrease) in credltors
11,1981
13961
146
1961
103
572
17691
11091
11461
16531
13931
Net cash provlded by operatlng activities
12.301
Analysls of change5 in net debt
2023
Cash flows
£'ooo
2024
£'ooo
Cash at bank and in hand
3,682
12.0631
1.619
Total
3,682
12,0631
1,619
17

St Raphael's Hosplcè
Annual Report and Financlal Statements
For the year ended 31st March 2024
Notes to the Flnancial Ststements
l Accounting Policiès
General Infomlation
St Raphael's Hospice is a private company limited by guarantee in England and Wales (company number 117325671 and a
charity registered in England and Walès (charity number 11826361. The registered office is St Raphael's Hospice. London Road.
Cheam, SM3 9DX.
Basis of accounting
The financial statements have been prepared for the year ended 31 March 2024.
The financial statements have been prepared under the historical cost convention with items initially recognised at cost oi
tran5artion value, unless Otherwise stated in the relevant accounting policy note.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to tharitie5 preparing their accounts in accordance with the Financial Reportine Standard
applicable in the United Kingdom and Republic of Ireland Icharrties SORP FRS 102, updated 20191 and the Financial Reporting
standard applicable in the UK and Republic of Ireland IFRS 1021.
St Raphael's Hospice is a charity which is a public benèfit entity as deflned in FRS 102.
The financial statements are prepared in sterling and are rounded to the nearest thousand pounds.
Critical accountSng estimates and areas of judgement
The most significant areas of adjustment and key assumptions that affect items in the financial ststements are in respect of-
the reco8nition and deferral of income,.
assessing thÈ probability of receiving legacies of which the Charity has been notified,.
estimating the value of the gift in kind of properties occupied under a peppertorn rentsl agreemènt with the ConEregation
of the Daughters of the Cros5 of Liege..
Assessment of golng concern
As stated in the Trustees. Report, the Trustees have assessed whether the use of the goinE concern assumption is appropriatÈ
in preparing these f1nancial statements and they have made this assessment in respect of a period one year from the date of
the approval of these financial statements.
The Trustees have kept abreast of the artual and potential impact of ètonomic and inflationary uncertainties on the Hospice's
operations, with a particular focus on its effect on the Hospice's financial p051tion including the Hospice's income, expenditure
and reserves. They have sought, unsuccessfully. to raise additional income from the NH5 Commissioners, SWL ICB, in order to
offset the additional costs arising from inflation over the prior three years. Therefore. the Trustees have taken decisive action
to lower operating COSts by £lm on an annual basis. They have also gratefully Secured a grant of £lm from the Congregation
of the Daughter5 of the Cross of Liege IDOCI in line with the Letter of Cornfort which was provided to them as part of the
transfer arrangements in 2020. This recognised risks to the Strategic plan including inflation assumption error"
The Hospice remains reliant upon the Èener05ity of the community of Merton and Sutton even after havin8 reduced cost and
rlsk a5 described above. It is continuing with its endeavours to increase income across all avenues in order not to rely upon
exceptional levels of legacy and on grants from the Doc. Notwithstanding the challenges that the Hospice continues to lace, it
is felt that it has sufficient cash resources and a realistic plat) of action that will allow it to continue operations for the
foreseeable future.
Therefore, the Trustees have concluded that there are no material uncertainties related to events or conditions that would
cast significant doubt on the ability of St Raphael'5 Hospice to continue as a going concern. This is because they believe that
they have sufficient reserves and resources to withstand any temp(>rary drop in income or any additional unexpected liability.
Intome re¢ognltlon
Income comprises donations. legacies, gift5 in kind for donated Services and fatilitie5, lottery income, incorne from retail sales.
grants from South West London ICB and other organisations together with the release of the Doc grant from deferred income.

St Raphael's Hospice
Annual Report and Flnanci31 Ststements
For the year ended 31st March 2024
Notes to the Financlal Statements, contlnued
l Accountln8 Polities, contlnued
Income recognition, contlnued
Income is reeognised in the period in which the Charity is entitled to receipt, the amount can be measured reliably and it Is
probable that the funds will be received.
Donations and transfers from other registered charities amounting to donations are recognised when the charity has
confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is
accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level
of performance before the tharity is entitled to the funds. the incorne is deferred and not recognised until either those
conditions are fully met. or the fulfilment of those condition5 is wholly within the control of the charity and it is probable that
those conditions will be fulfilled in the reporting period.
Legacies are included in the statement of financial activities when there has been a grant of probate, the executors have
established that there are suffitTent surplus assets in the estate to pay the legacy. and any tonditions attached to the legacy
are within the control of the charity. The value used is discounted by 15% in order to recognise the risk that asset values
realised may not reach teh original valuation estimates.
Lottery income is recognised during the period in which the lottery draw is held.
Inteie5t on funds held on deposit is included when receivable and the amount can be measured reliably by the charity,. thi5 15
normally upon notification of the interest paid or payable by the bank.
Grants from government, other agencie5 and voluntary bodie5 have been included as income from charitable activities where
these are akin to a contract for services, but as donations where the money is given in response to an appeal or with greater
freedom of use, for example monies for core funding.
Income frorn retail erants is credited to the statement of financial activities when the Charity is entitled to receive the funds
and when the amount receivable can be quantified.
Shop income arises from the sales of donated good5 at charity shops within the Surrey and Greater London areas. Donated
800ds are normally distributed very 500n after receipt by the charity. stocks held at the reporting date are immaterial. Under
these circumstèntè5, the cost of valuin8 all donated goods upon receipt by the charity outweigh5 the benefit to the users of
the accounts of providin8 this information. Consequently, donated goods are included within income when sold oi distributed
and no value is placed on stock of such itèms at the year end.
In accordance with the Charities SORP FRS 102 no financial valuation of volunteer time 15 recognised in these financial
Statements, refer to the'voluntèers" section of the Annual Report for further details.
Deferred intome includes a cash grant given by the Congregation of Daughters of thè Cros5 of Liège towards strategic
investment in the new charity. This was granted as part of the transfer arrangements in order to bridge the anticipated
funding gap that will arise over a period of five or rrore yea¥s as thè charity invests in its strategy of 'EVE" lexcellence,
visibility and enga8ementl. The deferred income will be released to the Statement of Financial Activity in line with its use.
Donated servlcès and facllltles
Donated services and facilities are Tecognised In income and expenditure when the eharity ha5 control over the item.
conditions associated with the donated item have been rret, the receipt of economic benefit from the use by the charity of
the item is probablè and that the economic benefit can be measured reliablv.
The charity benefits from the use of the hospice building5 and ground5 which are leased to it by the Congregation of the
Daughters of the Cross of Liege at a peppercorn rènt. The value of thi5 gift in kind has been estimated by the Trustees
following the receipt of professional valuations for the market rent of the administrative building1759 London Road) and the
St Bede's Conference Centre and the capital value of the hospice building and grounds. A 5% rate of return on the capital
value was used to estimate the annual rental value. The estimated value has Subsequently been increased by reference to
market indicators for Similar propertie5 in the region.
ExpendItU￿ and thè basis of apportionin8 Costs
Expenditure is retognised once there 15 a legal or constructive obligation to transfer resources to a third party. it 15 probable
that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

St Raphael's Hosplce
Annual Report and Financial Statements
For the year ended 31st March 2024
Notes to the Finantial Statements, continued
l Atcounting Policies, continued
Expenditure and the basls of apportlonlng costs. continued
All expenditure is accounted for on an accruals basis and includes any VAT that cannot be recovered under the s33c VAT
iefund scheme. This scheme is specific to charities which are wholly operating as Hospices and allows recovery of VAT
incuried on the non-business activities Ihospice service delivery and most fundraising) as well as thè usual bu5ine5s activities
Iretail etcl. In turn that allow5 for a high proportion recovery of VAT on "apportioned activity" Ihat which serve5 to support
the entirè enterprise. VAT cannot be recovered on exetnpt activity levents, education and lottery).
Expenditure comprises the followinÉ'.
ThÈ cost of rai5in8 funds includes fundraising and publicity expenditure which comprises costs associated with fundraising
and shop overheads, publicity, advertising and event sts8ing. It also includes a share of support costs, intludin8 governance
eost5.
The cost of charitable artivities comprises all the costs of operatin@ the Hospi¢e, including all stsff, supplies and property
costs. It also includes a share of support Costs, including governance costs.
Tangible fixed assets
Tangible fixed assets are shown on the balance sheet at cost, les5 accumulated depreciation.
All assets which cost in excess of £5,000 and have an expected useful life exceeding one year are capitalised.
Depreciation is calculated at the following annual rates on a straight-line basis in order to write off each asset over its
estirnated useful life..
Computer and c*ther equipment
Shop fixtures and fittings
Motor vehicles
25%
Improvements to long leasehold property is depreciated evenly over the period of the lease.
20- 33.33%
33%
Fund accounting and Reserves Pollty
Any restrirted funds are monies raised for, and their use restricted to. a specific purpose or are donatlOn5 subject to donor-
imposèd conditions. The restricted reserve comprises the unspent element of all the individual restritted funds.
The designated funds are those which represent the net book value of tangible fixed a5set5 which are used in the day to dav
work of the Hospice and amounts set aside for fixed asset acquisitions in the next twelve mollths, and hence, are unavailable
for working capital commitments. Designated funds may also be set aside for a specific purpose designated by the Trustees.
This de5i8nation can be changed by the Trustee5 and hence the desiEnated fund is unrestricted.
The general fund represents free reserves are that element of unrestricted funds which ale available for future spending and
are therefore calculated by taking the total unrestricted funds of the charity and deducting any balances not available for
future 5pendin& including designated funds which have been set aside by the Trustees for a particular purpose.
The Trustees have decided that the required level of free reserves should be between three and six months, operating
expenditure. Further details can be seen in the Annual Report.
Leased assets
Rentals applicable to operatlll8 leases where substantially èll of the benefits and risks of ownership remain with the lessor are
charged to the Statement of Financial Activities on a straight-linÈ basi5 over the period of the lease term.
Debtors
Debtors are recognised at the settlement arnount, less any provision for non-rec(>verability. Prepayments are valued at the
mount paid in advance. They have been discounted to the present value of the future ta5h feceipt where such discounting is
material.
Cash
Cash is held in bank accounts or in hand and money available on demand or term deposits with an expiry date within three
months of the balance sheet date.

St Raphael's Hosplce
Annual Report and Financial Statements
For the year ended 31st March 2024
Notes to the Financlal Statèments, contlnued
l Ac¢ountln8 Pollties. continued
Creditor5
Creditors and provisions are reco@nisÈd when there is an obligation at the balance sheet date as a result of a past event, it is
probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be
estimated reliably. Creditors and provisions are recognised at the amount St Raphael's Hospice anticipate5 It will pay to settle
the debt. They havè been discounted to the present value of the future cash payment where such discounting is material.
Penslon Costs
St Raphael's Hospice operates a defined contribution pension schème. The amounts charged represent the employers.
contributions payable to the stheme in the year.
St Raphael'5 Hospice also participates in the NHS pension scheme, a defined benefit scheme which is underwritten by the UK
Treasury. The liabilities of the Scheme are not calculated and there is no attribution of liability to the participant (>r8anisations.
including the Hospice. Accordingly, the contributions are accounted for as if it were a defined contribution pension 5cherne.
Employee Costs
St Raphael'5 Hospice holiday year operates from April to March. A week'5 Worth of holiday that 15 earned in one year but not
utilised in that year can be Carried over to the following year. The tost to the charity of that holiday carry-over is estimated
and actrued in the financial statements.
St Raphael's Hospice values the loyal service of its staff and makes an award to staff who attain ten years of service. The
award is repeated and enhanced at five year intervals thereafter. The potential cost to the charity is calculated for all staff
who have reached the end of their fifth year of service in proportion to the time worked towards thè next award milestone.
21

St Raphaefs Hospl¢e
Annual Report and Financial Statements
For the yeai ended 31st March 2024
Note5 to the a¢counts. continued
Donatlons and legaties
Unrestricted
funds
£'ooo
1,605
Restricted
funds
£'ooo
63
315
Total 2024
Unrestricted
funds
Restritted
fvnd5
Trto12023
E'ooo
1,882
270
1,647
3,799
Donations
Gifts in klnd
Legacies
Total
1,668
315
1,592
3,575
1,8(Kl
82
270
l.S92
3,197
1,647
378
Gffts in Kind include a donation from the Cong￿gatIon of the Oaughters of the Cr055 of Liège which represents the estimated market value of
the lease of the land and bullding5 Used by the charity, provided by the Congregation at no cost to the charity. The market value of the rent
for the property has been estimated at £315,000 forthe ye3r12023-E270.0001. The estirn3ted value has been recognised within income as
donation, and an equivalent charge included within support costs.
In addition, the H05pice enjoys the benefit of volunteers for help in the running of the Hospice. fundraising and the shops. In accordance wf(h
the accounting policyp the value of these benefits ha5 not been reflected in the financial 5tstements.
Othertrading activities
Unrestritted
funds
£'ooo
354
1,727
2.081
Restricted
funds
É'ooo
Total 2024
Unrestricted
fvnds
Resrrlrted
fvnds
Toto12023
Lottery income
Retail ￿leS and ￿lated incorlle
354
1,727
2.081
368
1,419
1,787
1,419
787
4 Income from charitable activitie5
Unrestricted
funds
£'ooo
1,697
Restritted
fund5
£'ooo
Unrestritted
fvnds
Restricted
fvnds
Totsl 2024
Totu12023
£'ooo
1.697
SWL ICB servlce funding
SWL ICB Grants
Income from sO￿h West London
InteKraied Care Board IICBI
1.632
1.632
66
66
1,697
1,697
1698
NHS England COVID-21 fJndinK
Other
Other Income
io
77
io
77
87
54
54
54
54
87
Expenditure on Ralslng Funds
of the totsl being
Unr¢￿TI￿e￿
Restrlrted
£'ooo
£'ooo
909
243
1,970
3,122
Year ended 31 March 2024
Staff Costs
É'ooo
525
24
890
1,439
Other Costs Support Costs
£'ooo
218
207
802
I,Z27
Totsl
Fundralslng
Lottery
CharTty Shops
166
12
278
456
909
243
1,970
3,122
oAthe totul being
Unrestryrted
Restrlrted
Y¢urended31 Morch 2023
Stoff Costs Othercosts Support Costs
£'ooo
451
22
607
Totsl
Fuftdrui5ing
Lottery
Churityshops
280
147
594
1,021
142
873
180
1,447
1500
873
180
1,447
2.5tXI
246
399
22

St Raphael's Hosplce
Annual Report and Financial Statemer
For the yearended 31st March 2024
Note5 to the aecounts, contsnued
Expenditurè on Charitsble activitie5
of the total being
Unrestricted
Reslrlcted
£'ooo
219
92
41
53
Year ended 31 Malch 2014
Staff C0515
E'ooo
1.847
1,483
264
Other Costs support Costs
£'ooo
£'ooo
632
443
106
239
30
34
31
21
105
29
28
22
62
994
Total
£'ooo
2.922
1.828
328
146
161
118
235
5,738
Hospice In-Pat￿nt Unit
H05pice 4t Horne Comrnunty team
Psychologlcal Supportteam
Education
Orangery
Volunteers
Wellbeing Centre
2,703
1,736
287
93
121
iio
203
5,253
27
68
133
3.916
32
485
828
oAthe totolbeing
Unre5trirted
Rertrl¢ted
£'ooo
191
80
40
Yeorended31 Mur¢h 2013
Stuff Costs
Othercosts support Costs
Totgl
Hospice In-Potlent Unlt
"HospiGe ot Home" Community teum
Psychological Support teiym
Edu¢otion
Orangery
Voltsrtteers
Wellbeing Centre
1,741
1,396
195
75
27
89
559
395
210
29
19
26
20
36
735
2,725
1,702
246
132
142
132
181
5.260
2,534
1,622
206
130
96
22
38
89
23
55
912
34
125
150
31
385
Net Income Is stated aftèr charging
Auditor's remuneratlon
Statutory Audit
Staff costs
Lease rental co#$
Depreciation
24
6,164
416
199
See note 7 for an analy515 of Support Costs which are allocated acr055 activitie5 On the following b3SiS'.
Facilities costs- based on hospi¢È floorspace with 4 portion to income generating actlvity.
Qu31ity COSts- based on hospice headcount with a portlon to Income generating activity.
Other Support costs- based on the headrount of e3ch activity.
Staff cott$
Charitable Acli¥itie5
Year ended 31 March 2024
Hospice In-Patlent Unlt
"Hospice at Horne" Communty team
Psychologlcal Support team
Education
Orangery
Volunteers
Wellbeing Centre
Salaries
£'ooo
1,524
1,219
236
83
26
61
122
3,271
NIC
£'ooo
148
132
21
Penslons
A8èncv
É'ooo
83
other
£'ooo
Totsl
£'ooo
1,848
1,482
264
95
27
68
133
3,917
93
131
325
238
83
Income Generation
Year ended 31 March 2024
Fundraislng
Lottery
Reiall Shops
Salaries
NIC
£'ooo
47
Penslons
£'ooo
13
Other
£'ooo
Total
£'ooo
465
21
809
1,295
525
24
890
1,439
61
iio
20
34

St Raphael's Hospice
Annual Report and Flnancial Statements
For the year ended 31st Marth 2014
Note5 to the accourfs, ¢ontinued
staff costs. continued
Support Team
Year ended 31 March 2024
Total
Support
Cort
Salarie5
NIC
Penslons
Total Staff
Costs
Non-staff
Co$ts
£'ooo
189
104
251
86
77
707
£'ooo
E'ooo
281
52
ios
33
Executive Office and Cotnmunications
HR
18
li
25
216
118
285
99
91
497
170
Y90
132
95
IT and Facllltles
Flnan¢e
Qualty
71
31
475
Chorit0￿eArtl￿llles
Ye4rended31 Murch 2023
H05pice In-Patient Unit
"H05pice ot Home" Community terjm
Psychologicalsupport teom
Educotion
Orongery
Volunteers
Wellbeing Cent
Soknrks
NIC
pell￿0￿$
Agen(v
Other
Totol
eo(
1,741
1.396
195
75
27
89
1,385
1,151
171
65
26
80
82
2,960
133
125
18
133
120
295
225
133
3.613
Income Generotion
Yeqrended31 Morch 2023
Fundraising
Lottery
Retailshops
5olories
Nic
Pen5ion5
Agen¢y
Other
Totol
£'ooo
451
22
607
393
20
553
966
42
16
41
13
30
Support Teom
Yeorended 31 Morch 2023
5#l#ries
NIC
Pensions
TotolStGAA
Costs
Non-stoff
Costs
Totolcost
£'ooo
216
43
79
24
Executive Offlice andCommunicot10115
202
91
226
74
70
663
26
12
456
147
337
109
HR
ITortdFacilities
Finunce
auolity
24
258
81
768
73
32
366
1.134
In common with other Hospices. St Raphael'5 employs experienced Specialty Doctors and Speciallst Palliative Care Consultants on standard
NHS rates of pay and thls Is reflected in the higher pald employee5 report. The CEO is not the highest paid employee.
The number of employees who earned £60,000 per annum or more lincluding benefltsl durinÈ the year was as follows..
2024
2023
No.
£60,001- £70,000
£70,001- £80,(K)O
£80,001- £90,￿0
£90,001- £100,000
£ioo,ooi- £iio,000
During the year the charity made payments of £8k in respect of redundancie$12023'. nil) and £7k for other terrninations of employment
24

St Raphael's Hosplce
Annual Report and Flnanclal Statements
For the year ended 31st Marth 2024
Note5 to the accourfs, ¢ontinued
stsff costs. continued
Keymunogementpersonnel
Key m4nagement personnel comprised the Trustees, the CEO, the Clinical Director, the Dlrettor of Fundraising and Communlcation5, the
Commercial Director. Director of Quallty and Governance and the Director of IT & Eststes together with our three specialist palliative care
consultants. One of the consultsnts takes the role of le8d consultant on a rotational b3sis and is a member of the Executive Committee of the
Hospice. They are not included in the key management personnel costs shown below.
None of the trustees received any remuneration in respect of their service5 during the year12023'. £nill. No out of pocket expenses were
reimbursed to trustee5 during the year12023'. Enlll.
The total employment cost (including taxable benefits and employer's pension and national Insuran￿ ¢ontributlOn51 of the key management
personnel of the charity were £SSL,22012023.' E445,0201. This increase followed the recruitment to a new role of Director of Fundr4ising and
Cornrnunications.
Stoff numbers
Year ended 31 Mar¢h 2024
Headcount
2024
38
26
FTE
2024
25
19
Heudcount
2023
37
25
2023
23
19
Hosplce In-Patient Unit
H05pice at Horne Communtyteam
Psychologlc31 Supportteam
Education & Quality
Volunteers
Wellbeing Centre
Housekeeping and Orangery
Hospice adtnini5tr4tion
Medi￿1 team
Charltable Activlties
15
li
16
li
iii
71
69
Fundraising
Lottery
Retail Shops
In¢ome Generation
14
12
li
46
29
41
31
24
Support Services
Executiv@ and Finan
Supptsrt Service5
12
io
13
io
16
13
18
14
All Staff
187
125
169
117
Year Ènded 31 March 20Z4
Headcount
2024
53
99
35
Heudcount
2023
51
2024
56
58
li
2023
51
57
Perm8nent fvll time
Perrn3nent part time
'Bank" variable hours
28
187
125
169
117
In addition to our paid staff. St Raphael'5 Hospice benefitted from the sUPPOrt volunteers who contrlbuted their tirne to cover 792 role5
12023.. 7351. Volunteer time is not accounted for In these financial statements.
Taxatlon
St. R4phael's Hospice is a reglstered charrty and therefore beneffts from not being liable for income tax or Corporation tax on income derived
from its charitable activities. As a Hospice It has tèken advantage of the $33c VAT allowance5 which enable it to rec181m a large portion of its
VAT paid. At the end of the year a refund 15 due for £51,00012023.. £48,000) and this is included wlthln debtors.
25

St Raphael's Hospice
Annual Report and Financial Statements
For the year ended 31st Mar¢h 2024
Notesto the accounts. continued
10 Tangible fixed assets
Site Leasehold
Improvements
Computer
and other
Equipment
£'ooo
Shop Fixture5
and Fittings
Motor
Vehlcles
Retail Leasehold
Improvements
Assets under
Construction
rotal 2024
E'ooo
£'ooo
£'ooo
£'ooo
£'ooo
£'ooo
C05t or valuatlon
At l April 2023
Transfer between
classes
Addition5
At 31 March 2024
411
601
45
83
191
117
IA48
117
37
192
13461
28
556
24
249
20
312
1.760
662
51
83
Depredatlon
At l April 2023
Charge in year
At 31 March 2024
23
18
41
408
88
496
37
34
20
89
64
591
198
45
153
Net book volues
At 31 March 2024
515
166
29
235
20
971
At 31 March 2023
193
49
102
117
857
The land and buildings that are occupied by St Raphael's Hospi¢e are owned by The Congregation of the Daughters of the Cr055 of Liège and
are leased to the charity at a peppercorft rentsl. The value of the gift In kind 15 recognised in these financial statements, as described in the
princip81 accounting policles at note i.
11 Investments
2024
£'ooo
2024
Unlts OQO'S
2023
2023
Units OOOS
Marketable investments
Sarasin Endowments Fund
Market value at start of year
Net additions at cost
Disposals at marketvalue
Net gainlllossl on revaluationldisposal
Market value at 31 March
1.952
59
14861
146
L.705
50
14031
1.417
638
1,163
542
1103)
1.952
1.352
1.705
Llquld A$sets
ICS-Sterling Liquidlty Fund
Market value at start of year
Investment Income
Interest
Net addition5 at cost
Transfer to Cash Deposlt
Disposals at market value
Market value 8t 31 March
2024
£'ooo
14
2023
2023
UnitsLIXI's
Unlts (W'$
600
52
59
485
15001
1581
{638J
14
2024
2024
Unlts ooo's
1,352
1.352
2023
2023
POOO Unts OIXI'S
1,966
1,705
2,052
1,705
Total investments
Cost at 31 Marth
1,672
1,615
Marketsble investments wmprise
Fixed Income
Equitie5
Property
Atternatwe investment5
Short term dep051ts and cash
207
1,224
59
lis
290
1.292
86
242
56
1,671
1,966
26

St Raphael'$ Hospice
Annual Report and Financial Ststements
For the year ended 31st Mar¢h 2024
Notes to the accounts, corflnued
12 Debtors
2024
£'ooo
1.558
244
60
196
2.058
2023
Legacies rece￿able
Prepaytnents
VAT receivable
Other Debtors
979
215
55
157
1,406
13 Creditors
2024
2023
Amounts falllng due wiihin one year
Trade creditors
Social Security and othertaxes
Other creditors and accruals
Deferred Income release of Doc grant
Lottery deferred Income
Other deferred Income
Provlslon for onerous lease commltments
loo
127
336
500
53
55
103
294
57
23
23
1.139
1,532
Amounts falling due after more than one year
2024
2023
Deferred income release of Doc grènt
903
903
903
903
14 Deferred IA¢ome
2024
Doc Grant
20Z4
Other
2024
Total
2023
Torol
Brought forward at l Aprll 2022
Introduced in the year
Released during the year
1,903
80
2.044
12,0481
1,983
2,044
12.5481
2,739
2,379
(3.1351
15001
Carried forward at 31 March 2023
1.403
76
1,479
1,983
A cash grant of £3.6rn was given by the Congregation of Daughters of the Cross of Liège IDOCI in 2020 towards the five year strategic plan for
the charfcy and h8s been included in deferred Income. Thi5 will be released to the Statement of Financial Activity ISOFAI In Ilne with the
condftlons of its use, as stipulated In the transfer arrangement between the Congregation and the charlty. A sum of £500k wa5 released to
the SOFA in the current year12023.. £750kl and the release of a further £500k has been budgeted lor the year to 31st March 2025 and is
shown as Creditors,. amounts due In under one year" at note 13, above. The rern4ining balance of £0.9m is included under "Creditors..
amounts due in more than one year. and is due to be released over the ensuing two to three years a5 the strategic plan progresses. The covid
pandemic has caused delay to its Implementation.
other deferred incorne balances includes lottery 5ub5criptions made forfuture lottery draws and to challenge event income raised in advance
of the challenge tsklng place.
15 Re$trlthed Funds
The restricted funds 8re monies
received for, and their use restricted to,
the following..
At 1st April
2023
Transfer
between
Funds
£'ooo
Income
Expenditure
At 31$t
Mar¢h 2024
£'ooo
£'ooo
35
315
£'ooo
£'ooo
Bereavement supportfund
Doc gift in kind
SWL ICB grants
orher restricted donations
13151
120
89
209
28
1691
485
iioi
38
92
27

St Raphael's Hospl¢e
Annual Report and Flnantial Statements
For the yearended 31st March 2024
Notesto the ac¢ounts. continued
IS RestrEcted Fund5, continued
At IstAprll
2023
Tron5fvr
between
Funds
£'OL
At315t
Murch 2023
Income
Expendlture
8ereuvementsupportfund
Docgiftin kind
SWL ICB gronts
Otherre5tricted donotlons
35
135)
1270)
(58)
{22)
385
270
66
47
142
158
3QO
{soJ
1941
124
The Bereèvement support fund represents the funding of the Psychological Support team and related costs.
The Doc gift in kind relates to the provision of the land and buildings on a 20 year lease at a peppercorn rental. The Gift in Kind recognlses the
valuation placed upon the use of the properties by an independent surveyor in March 2020. In the current year an inflation based increase
has been recognised to 8diust the valuation from E270k per annum to £315k per annurn, but a formal revaluation has not tsken place.
The South West London Integrated Care Board ISWL IC81 Grants are provlded to fund one additional Cllnical Nurse Speci31ists for weekend
and bank holiday cover. In 2023-24 no further CCG grants were provided to 12022-23 £66kl and the fund is being utilised. A new bid will be
made in the new financlal year.
Other restricted don3tlons repre5entother smaller restricted donations and legacies donated to the Hosplce for specific purposes.
16 Designated Funds
At IstApril
2023
Transfer
between
Funds
£'ooo
11981
20
12021
380
Expendrture
At 31st
Mar¢h 2024
£'O(K>
857
£'ooo
312
Flxed Asset Fund
Acquired
Cornmitted
Budgeted wrchin 12 rnonth5
971
20
193
395
312
1,184
At IstAprll
2022
Tron5fer
between
Funds
Expenditure
At31st
Morch 2023
Acqulrtd
Committed
Budgeted within 12 months
725
278
1146)
857
FixedAssetFund
451
1.176
156)
202
395
1.252
The unrestritted funds of the Hospice include the following designated funds which have been set aside by the trustees for specific purposes.
The fixed asset fund represents the net book value of tangible fixed assets. which are used in the day-to4ay work of the Hospice and hence 15
not avai13ble for working capital.
The transfer in the fiyed assets 'acquired' fund represents the net movement of additions. dlsposal$ 3nd depreciation in fixed asset5 overthe
year."Cornmitted" expenditure relate to additions which the charity is contrattually obliged to cornplete and 'Budgeted relate5 to proposed
additions that have been approved by the Board of Trustees.
17 Analysis of net assets between fvnd5
Restricted
funds
É'ooo
General Fund
Designated
fund
E'OOO
971
213
Totsl 2024
£'ooo
1,672
3,372
11,1391
19031
3,002
£'ooo
2,643
3,677
11,1391
19031
Flxed assets
Current assets
Creditors.. amounts falling due within one year
Creditors.. amounts falling due after more than one year
Totsl net assets
92
92
28

St Raphael's H05pI
Annual Report and Financlal siatement5
Forthe year ended 315t March 2024
Notesto the accounts, contlnued
17 Anotysis of net assets bett¥een funds. contlnued
Restricted
fvnds
Deslgnoted
fvnd
£'ooo
842
410
Generol Fund
Toto12023
£'ooo
1,981
4,469
11,5321
1903)
4,015
£'ooo
2,823
Fi¥eclassets
Current assets
Creditor5.' amountsfolllno due within one yeor
Creditor5.' amountslollino due ufter more thon one year
Tot¢¥lnet055ets
209
11.5321
(9031
209
18 Lèasing commltment$
Operoting leuses
At 31 March 2024 the H05pice had totsl comrnitments under non<ancellable operating leases for retail shops and related Offi￿ and
warehouse buildings as follows..
Land and
bulldings
1024
Londond
butldings
2023
Comrnitments f3111ng due..
wrchin one year
Wfchin one to two years
w￿h1n twoto five years
erfive years
409
309
538
39
1.295
307
260
314
ZO Related party transactlons
st Raphael's Hospice wa5 established a5 a work of The Congregation of the Daughters of the Cross of Llege I'DOC" charity number 1068661
and company number 34929211 in 1987 and tts activities were reported a5 part of that entlty. The activities and the operating a55ets and
liabilities of the work were transferred into St Aaph8el's Hospice (charity number 1182636 and cornp3ny number 117325671 on 31 ottober
2020 and frorn that point its activf(ie5 Zre reported through this entty.
Two of the trustees of Doc are also trustees of St Raphael's Hosplce Isrveronica Hagen and Sr Kathleen O'Reillyl. One member of the Finance
& Resources Committee is a paid adviser of the Doc (Mr Ed Cook).
The freehold of the land 8nd buildings that comprlse the St Raphael's Hosplce site are owned by Doc. These have been leased to St Raphael's
H05pice under three separate leases for the three plots Ithe Hospice, St Bede's and 759 London Road) each for twenty years and at a
peppercorn rental of £100 per annutn. A totsl of £300 wa5 paid in the period In respect of these leases12023.. E3001. The leases are valued at
£315k per annum and a gift-in-kind is recognised in these financlal statements for this arnount12023.. £270kl. The notlonal rental of £315k Is
also ￿cogniSed in these financial ststements12023.. £270KI.
No grant5 were made by Doc durin8 the year12023.' nill. A gr&nt of £lm was glven after the balance sheet date, in June 2024. to support the
ongoing work of the charity.
Doc continues to receive occasional income on beh3lf of the Hospice, such as legacies and some donations and these are passed through to
St Raphael'5 Hospice without deduction. During the yearthere were no such transactions12023.' nill.
Duriftg the year servlces were pr¢)vided at a market late of £4.990 by Darnelle Consulting Ltd. Grahame Darnell is a Trustee and also Director
of Darnelle Consulting Ltd.
There were no other related party transactions.
21 Capitsl commitments
As at 31 March 2024 there was a commitment to complete a contractfor Flre Safe doors in the IPU which amounted to £20k.12023.. Nill.
22 Pension commltments
The Hospice makes contributions in respect of the current service of Its employees to erther the NHS pension 5cherne or Royal London.
The Royal London pension schemels 3 defined contributlon scheme, with contributions accounted for in the period In which they arise.
The contributions payable for the year were E133,09812023.. £127.3901.
29

5t Raphael's Hospice
Annual Report and Financlal Statements
For the year ended 31$1 March 2024
N¢xes to the accounts, continued
22 Pension comfflitments, contlnLted
The NHS pension Scheme Is a defined benefit 5cherne which Is underwrttten by the UK Treasury. The li3bllltles of the scheme are not
calculated and there 15 no attribution of liability to the participant org3nisations, includlng the Hospice. Accordingly, it has accounted for its
contributions as if it were 8 deflned Contribution scheme.
The contributions payable to the Scheme for the year were £158,57612023.. £149,004).
23 Post Balance Sheet Events
The Hospic&, together with two other hospices, entered negotiations with the NHS Commlssloners, SWL ICB, in May 2023 to increase fundin6
over the course of a three year period to reach the London average level of 50% of the Clincial Services costs. This negotiation proved
unsuccessful and, in May 2024, the Board made the decision to cut runnings costs by 8 figure of £lm per annum in order to offset an inflation-
related incre&se in costs of 8 slmllar level. A proposal was presented to the staff body in July 2024 which included signlcant ￿duCtiONS to staff
Costs by means of reduced working hours, revised role descriptions and redundancy. In addltion, planned costs which could be avoided were
also reduced.
A perlod of ctsnsultation of around 30 days took place following which the revlsed proposal wa5 agreed and presented to the staff in August.
Thi5 included IL staff belng made redundant and 19 st8ff reducing their hours andlor revising their roles. The Implementation of the m8jorlty
of the proposals was With effect from September 2024 with some elements delayed for practical reason5.
part ol the planning for addressing the high level of costs the charlty was gratelul to recewe a grant of £lm from Doc In June 2024.
30

5t Raphael's H05Pi
Annual Report and Financlal Ststement5
For the year ended 31st Mar¢h 2024
24 Cornparatlve statement of Flnanclal A¢tivities for the year ended 31st March 2023
Unrestricted
Toial
funds Year
to31
March
Total funds
Yearto 31
March
General
Designated Restricted
Notes
fund
£'ooo
fund
£'ooo
funds
£'ooo
2023
£'ooo
2022
£'ooo
Income and expenditure
Income from:
Donation5 and legacies
Othertrading activities
Investments
Charitable activitie5
Clinic31 Commissioning Groups
Other income
3,447
1.787
96
352
3.799
1.787
3,466
1,533
1,632
87
66
1.698
2,265
298
Total Incomè
7,049
418
7,467
7,566
Expenditure on..
Raising funds
Charitable attivities
2.500
4.875
2,500
5,260
2,406
4,596
385
Total expendlture
7.375
385
7,760
7.002
Net operating lshortfalll / surplus
13261
33
12931
564
Net gains I Ilossesl on investments
li
11031
11031
17
income I lexpenditurel befo￿ transfers
14291
33
13961
581
Tr&nsfers between funds
15-16
48
76
11241
Net rnovement In fund5
13811
76
1911
13961
581
Reconclllatlon of funds:
Fund balances brought forward at l April 2022
4,396
1,176
3(K)
5A72
5,291
Fund balances c8rrled forward
at 31 March 2023
15-17
4,015
1,252
209
5N76
5,872
All of the charity's activities during the above two fin3n¢ial periods derlved frorn continulng operations. A full comparative statement of
financial activStles 1$ Shown at note 23 to the financlal statements.
31