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2023-03-31-accounts

Charity registration number 1189565

Company registration number 12460725 (England and Wales)

LAWRENCE HOME NURSING TEAM LTD

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

LAWRENCE HOME NURSING TEAM LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Joanne Cowley
Richard Greaves (Appointed 1 June 2022)
Emma Hallam-Evans
Robert Johnston
Alan Mathers
Anna Jo Mathers
Jennifer Nolan MBE (Appointed 6 September
2023)
John Pritchard
Secretary Samantha Dulley
Charity number 1189565
Company number 12460725
Registered office Chipping Norton War Memorial Community Hospital
Russell Way
London Road
Chipping Norton
Oxfordshire
OX7 5FA
Independent examiner Charlotte Toemaes BSc FCA
Ellacotts LLP
Countrywide House
23 West Bar
Banbury
Oxfordshire
OX16 9SA
Bankers Barclays Bank Plc
32 Bridge St
Banbury
Oxfordshire
OX16 5PN

LAWRENCE HOME NURSING TEAM LTD

CONTENTS

Page
Trustees' report 1 - 10
Independent examiner's report 11
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15 - 27

LAWRENCE HOME NURSING TEAM LTD

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The Charity's objects are as follows:

Our aim is to provide people with end of life nursing care in their own homes.

When asked, most of us say we want to die at home, in the comfort of familiar surroundings, close to those we love.

But that’s only possible if the right end of life care is available. That means having access to specialist advice, nursing care and regular emotional support. And for families caring for loved ones it means having someone they can turn to for reassurance and respite.

That’s where our nurses step in. Providing hands-on care whenever it’s needed, our nurses make it possible for people to be cared for in their own home, surrounded by family, friends and pets. Guided by a patient’s needs and wishes, our nurses work closely with GPs and community nurses to help manage symptoms and give each person the care that’s right for them. And by helping people to relax and feel like themselves, the nurses make sure patients and their families get the most out of their last moments together.

The team offers care whenever it’s needed, whether that’s for a few hours in the day or through the night.

The Board of Directors review our aims and objectives annually. We assess the effectiveness of our service and look for ways in which it could be improved. We have no objectives other than the support of terminally ill patients and their families; and will remain focussed on providing this service to the best of our ability. Our aims fully reflect the purposes that the Charity was set up to further.

The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Charitable activities

Lawrence Home Nursing Team Limited provides palliative care through its team of professional nurses who are specifically trained in this area of medicine. Our aim is to ease suffering and improve the quality of life, both for the patients and their families.

Lawrence Home Nursing Team Limited has had another busy year.

Once again, we have received generous financial support from our local community, which has allowed us to treat all patients who have come to us for help.

LAWRENCE HOME NURSING TEAM LTD

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Public Benefit

The section of the report entitled ‘Achievements and Performance’ set out how our objectives have been met.

Our activities provide public benefit by ensuring that terminally ill patients are cared for in accordance with their wishes, in their own home and that the support needed is provided to them and their families, without charge within the Chipping Norton and surrounding areas.

The directors have complied with their duty according to Section 17(5) of the Charities Act 2011.

The Board have had due regard for the Charity Commission's guidance on public benefit in England and Wales; and uses it to help in our forward planning and are able to confirm to the best of their belief that the hospice’s activities are of public benefit.

Our Staff

We are fortunate in having a dedicated and established team of nurses, who continue to offer a professional, caring and sensitive service to our patients and their families.

During the year, Jenny Nolan, our Registered Manager since the Charity began (23 years ago) retired. Michelle Booth was then appointed as interim Registered Manager.

Jenny has constantly gone above and beyond to ensure we deliver exceptional levels of care for our community. Jenny was awarded an MBE for her outstanding service since retiring from the charity.

We had a few nurses leave or retire during the year, we have therefore continued to recruit nursing staff. We have taken on several new nurses in the year to help us keep up with the demand. We also undertook a review of how we can retain staff and improve working conditions, which included a staff survey, and we have incorporated suggestions from this survey into the way we operate. A new training provider has been appointed for all on-line mandatory training. The software's reporting feature ensures that completion rates remain high.

We have ensured our pay rises have been in line with the cost of living and awarded an additional pay rise this year to our staff to keep up with the increase in inflation. We also increased our employer pension contributions to 5% to be in line with other end of life charities as well.

Volunteers

Our core group of 10 volunteers continue to give their time freely to attend monthly meetings as well as supporting a full programme of fundraising events and activities.

One of our volunteers, David Best, is assisting the Fundraising Manager and speaking at awareness raising talks. His family provided the catering at a musical evening at Kirtlington Park in November 2022.

Two sons of another one of our volunteers, Suzanne Allan, also ran the London Marathon for Lawrence Home Nursing Team Limited in 2022 and 2023.

Strategic report

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the Charity to present a strategic report.

Achievements and performance

The Charity's main activities and who it tries to help are described below. All of our charitable activities focus on the relief of sickness and suffering for people suffering from any terminal illness and are undertaken for the charitable purpose to further Lawrence Home Nursing Team Limited’s public benefit.

In order to achieve its objectives the charity has supported its beneficiaries through the provision of:

LAWRENCE HOME NURSING TEAM LTD

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

End of Life Care at Home

Our achievements for the year reflect the objectives and aims set by the Charity. We provide registered nurses to offer palliative patients, in their last months of life, supportive health care in their homes. The care is tailored to the needs of each individual patient and their families. We have been able to treat every appropriate patient who has been referred to us.

Our clinical activity for the year is summarised as follows:-

We contribute to the development of palliative care in our county by participation in the monthly meetings held by the integrated care board and Oxfordshire Palliative Care Network. We have a partnership agreement with Oxford Health Foundation Trust and work closely with the Community Nurses and have quarterly meetings with their lead clinicians, working in North Oxfordshire. We also liaise and work with disease specific specialists and the community clinical nurse specialists working from other local Hospice charities. The Duty Nursing Co-ordinator also attends the monthly end of life meetings with the 5 general practitioner surgeries we cover.

Throughout the year, we continued to ensure our processes complied with the Covid 19 regulations and all nurses were equipped with the relevant PPE required as advised by the Gov.co.uk guidance. The use of PPE is currently less widespread as a result of change in the Government directive.

The service receives consistently positive feedback from relatives and carers. Feedback is collated and maintained by the Registered Nurse Manager and Operations Manager to ensure excellent standards of care are maintained.

Fundraising activities

The Lawrence Home Nursing Team employs a dedicated full-time Fundraising and Communications Manager.

Fundraising involves a wide range of fundraising activities to support the delivery of the nursing services. The cost and demand of the service is increasing as our catchment area expands. Fundraising activities generate a huge amount of the money required to pay for the service.

Towards the end of the financial year, we created the formation of a new income stream called the Patrons’ Club, our existing Patrons, David Cameron and Graeme Garden OBE, were made Honorary Presidents of the charity. Thanks to the network of potential major donors provided by Director of Fundraising, Robert Johnston. This income stream is projected to raise £100,000 per annum plus gift aid for the next three years.

As ever we are very grateful to the community and local supporters who continue to support us and to raise incredible sums of monies whether that be from organising their own fundraising campaign, attending our events, supporting us via the online lottery or one of the online shopping platforms, buying our Christmas cards and thank you cards or setting up a standing order. The donations received make our work possible and are key to our continued success. We also aim to use as many local suppliers for our fundraising events.

Special thanks should be paid to Five Star Events, a group of supporters who organised a Golf Day for Lawrence Home Nursing Team Limited and other fundraising activities which generated income in excess of £5,000 (including gift aid).

LAWRENCE HOME NURSING TEAM LTD

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

The major fundraising events in 2022 were an Opera Evening in the glorious gardens of Sally Coles and Andrew Hornung’s house in Church Enstone. The Annual Clay Pigeon Shoot which had been cancelled during the Covid 19 pandemic, returned to a new venue, the Oxfordshire Shooting School in Enstone. Two cricket matches were held in memory of Jane Phillips and John Barrows. In November 2022 we held a musical evening at Kirtlington Park.

We endeavour to source sponsorship from local companies for our events to cover the majority of costs and we are very grateful to all of our sponsors in 2022 including; Wise Funds, Wise Investments, Richard Spencer Building Contractors, K J Millard Skip Hire, Robert Johnston Associates, Savills, Evenlode Investments, Zurich Insurance and J Rigg Construction Limited.

We held our Annual Candles of Remembrance Service in December at The Methodist Church, Chipping Norton and various Christmas Card sales took place in community halls in Charlbury and Enstone.

We continue to apply for grants from charitable trusts and foundations and were successful in receiving grants notably from, Zurich Insurance, St James Place and a significant donation from the Lumos Charitable Fund of Christian & Jude Lawrence.

Communications

We continued with our programme of awareness-raising talks to the local groups in the community. Michele Booth, our interim Registered Nurse Manager and volunteer David Best, supported the Fundraising Manager at these talks.

We developed a series of promotional videos that were shown at talks.

We continue to produce an annual spring newsletter that is sent electronically and delivered by hand to supporters and local businesses. The charity has also been promoted in the local Chipping Norton magazines and local newspapers in the year. We have also updated the website to include a general support and advice guidance for end of life care.

Investment performance

Our portfolio has been remarkably resilient during recent global events and up to the present time. The value of the portfolio has dropped to £2,070,091 (2022: £2,108,647).

Our dividend income has returned to pre-covid levels and has increased to £90,147 this year (2022: £77,327).

Additions totalling £100,000 were added to the portfolio during the year as a result of fundraising activity which took place and generous donations, legacies and grants received. We made no withdrawals from the portfolio in the year.

The directors have again adopted a medium risk investment policy throughout the year.

The financial markets have been subjected to a seemingly endless series of challenges over the last few years. We have had the worst bout of inflation for nearly half a century, exacerbated by the invasion of Ukraine leading to the energy price shock and the more general cost of living crisis. High inflation persists and interest rates haven’t stopped rising, putting even more pressure on family budgets and economic activity in general. Higher inflation and interest rates caused the prices of all fixed-interest assets, including UK government stock, to collapse in 2022. The Lawrence Home Nursing Team Limited portfolio has benefitted from our decision several years ago to avoid these sectors altogether. The prices of many assets remain depressed, as investors stay in ultra-cautious mode following the crises of the last few years. We believe that there is scope for a substantial recovery from current levels should sentiment normalise in the months and years ahead.

Despite all this, our investment portfolio has performed consistently well, and continues to produce the dividend income which is an important stream of income to the nursing service. Portfolio dividend income promises to carry on rising from here.

Our investment portfolio has been managed since June 2014 by Anthony Yarrow and we are in the process of becoming a formal client of Wise Investments Limited to manage our investment portfolio.

LAWRENCE HOME NURSING TEAM LTD

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Financial review Principal funding sources

The Charity has remained in a good financial position throughout the year with generous donations, legacies and grants. We have also been able to offer a full year of fundraising events.

Total income for the year is £435,248 (2022: £739,746).

We received voluntary income of £282,574 (2022: £333,898) during the year ended 31 March 2023 which includes £135,382 (2022: £239,800) received as gifts and donations, including the start of the patron club donations.

The in memory donations have remained strong with funeral collection, public fundraisers and legacies. Legacies totalled £48,200 (2022: £10,304).

We received a grant from the NHS amounting to of £20,340 (2022: £20,000). The support from Hospice UK ceased at the end of the last financial year and the final amounts of income were received in this year £31,152 (2022: £48,644).

We also received other grants from charitable trusts totalling £47,300 (2022: £15,150) and gift aid totalling £14,102 (2022: £26,702) for the year.

Activities for generating funds have included the sale of Christmas cards, which generated an income of £3,621 (2022: £2,534) and an overall surplus of £1,533 (2022: £33). Collection boxes generated £1,858 (2022: £2,256). The collection boxes also help to raise awareness of the Charity in the community. Considerable time and effort go into counting and banking the contents of these boxes, for which thanks are due to the volunteers. We have also continued ways to develop of cashless donations and a QR code, our supporters have found new ways to donate.

Other fundraising income excluding Christmas cards and collection boxes generated income of £39,461 (2022: £289,274) and an overall surplus of £25,635 (2022: £224,790). The surplus does not take account of staff costs associated with fundraising and publicity. Our fundraising events increase the Charity's profile. Our fundraising income has increased due to being able to undertake a full year of fundraising activities again whereas last year this still impacted as a result of the Covid 19 pandemic. Fundraising income has fallen since last year due to a one-off large private fundraiser last year called Pooch’s Project. Fundraising events this year were in line with pre-covid fundraising activities.

Investment income received has increased to £90,212 (2022: £77,328), and sponsorship income has remained consistent.

We also outsourced nursing care to the NHS to help meet demand within the local area. This generated funds of £2,520 (2022: £6,283).

Reserves policy

The funds of the Charity as at 31 March 2023 are £2,209,789 (2022: £2,329,808), which are made up of £2,209,789 as unrestricted funds (2022: 2,311,808) and £nil as restricted funds (2022: £18,000). The level of free reserves, being total funds, less restricted funds, less fixed assets, was £138,215 (2022: £200,981).

There were no restricted funds at 31 March 2023. The restricted fund held at the end of the previous financial year was intended for a training and development program. It was decided by the Board of Directors to not go ahead with this program. The donor was contacted and gave his permission for the balance of this fund to be transferred to general funds.

LAWRENCE HOME NURSING TEAM LTD

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

All other restricted funds which were fully expended in the year and these were as follows:-

The remaining funds of the Charity are all unrestricted, with no stipulation on how these funds should be spent other than to further the aims and objectives of the Charity.

Reserves are set up considering:-

The reserves policy does not include restricted funds. The Charity has no designated or endowment funds in this year or the previous year.

A deficit has been made this year as a result of investment losses. Prior to this adjustment a surplus of £17,397 had been made for the year.

We regularly monitor our cashflow and prepare an annual budget as well as cashflow projections and monthly management accounts. We hold quarterly Finance Committee Meetings. We have therefore been able to successfully manage any uncertainties and risks in the year.

At no point in the year was the bank overdrawn and we have significant investments which can be sold to meet working capital needs, if required to.

The directors review current and future funding needs on a regular basis.

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Our costs have risen steeply over the last few years, to support our growth, and we continue to believe that this policy remains prudent, and appropriate to our current circumstances. Our reserves meet this requirement at the present time.

The directors have reviewed this policy in the light of their experience and their plans and expectations for the future. Given the commitments attached to the running of a significant sized operational facility and the considerable uncertainties surrounding the future income streams on which the Charity depends, they have confirmed that it is prudent to maintain the current policy.

LAWRENCE HOME NURSING TEAM LTD

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Investment policy and objectives

Our investment portfolio derives from generous donations and bequests which we have received during the life of the Charity.

Our strategy is to invest for a significant and growing income, which is used to fund our nursing activities, alongside other income sources.

There are no limitations on where we can invest. Over the last few year’s we have been able to derive a more attractive level of income from the shares of sound, long-established companies than from the fixed interest markets (government or company loans) or cash. We invest in company shares currently through three long-established funds. We know the Managers of these funds well and understand their different investment styles. All three funds have produced above-average returns over the medium and longer term. During the year, we undertook a review of our investments and any recommendations and changes will form part of the year ended 31 March 2024.

Increasingly Companies have become aware of the need to reduce their environmental impact. Many of the Companies we invest in have issued policies to reach net zero carbon emissions by 2030, and others are following. These issues are important to us and to the managements of the funds we invest in. We also consider other social issues including diversity and pay differentials.

The directors assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

We are actively recruiting for nurses and have a new permanent Registered Manager who will commence with the charity during Summer 2023 and we look forwards to welcoming her.

We are currently looking to get our promotional video to be shown in surgery waiting rooms in 2023-24 and discuss the service we provide with surgery managers.

The patron’s club will be in full operation for 2023-24. This income stream is projected to raise £100,000 per annum plus gift aid for the next three years.

We have updated our fundraising and communications strategy for the next three years and will continue to raise the profile and awareness of the Lawrence Home Nursing Team to local, regional and national stakeholders.

We have planned a wide-ranging programme of events in 2023 including proms, picnic and fireworks, an evening in conversation with Miriam Margoyles and the Dent polo cup. We will shortly commence work on planning our 25th Anniversary Ball and other commemorative events in 2024-25.

We will continue with awareness-raising talks in our catchment area and focus on reaching local groups in Bloxham, Deddington and the Wychwoods.

We will explore match funding opportunities with corporate partners and seek new charity partnerships with local supermarkets.

We have begun work on a rebranding exercise to relaunch the charity to coincide with its 25th anniversary year in 2024. This will help raise awareness of the charity and will be an ideal opportunity to refresh and modernise the charity’s logo and website.

We are also looking to develop a CRM (Customer Relationship Management) software to improve and tailor our communication with our donors.

Going Concern

There are no going concern issues to report and the directors are confident of the charities ability to continue.

LAWRENCE HOME NURSING TEAM LTD

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Structure, governance and management

The Charity is a company limited by guarantee, controlled by its governing document and Memorandum and Articles of Association incorporated 13 February 2020.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Joanne Cowley Catherine Elliott Richard Greaves (Appointed 1 June 2022) Emma Hallam-Evans Robert Johnston Alan Mathers Anna Jo Mathers Jennifer Nolan MBE (Appointed 6 September 2023) John Pritchard Vivian Woodell Anthony Yarrow (Resigned 13 July 2022)

Following the year end the following director's will not be standing for re-election:

Vivian Woodell - 10 October 2023 Catherine Elliott - 10 October 2023

We would also like to take this opportunity to thank Anthony Yarrow for his many years of service as Chair and prior to this as Treasurer, as well as managing our investment portfolio throughout. His wisdom, guidance, hard work and dedication has helped the charity to grow and prosper whilst maintaining the highest standard of service to those who need our help.

Appointment of new directors

New Directors are appointed by the Board of Directors or alternatively at the AGM by the Members when there is capacity or a need for particular skills/experience. There is an agreed appointment process in place. The appointment of a prospective new director is discussed at a Board Meeting to ensure that he/she will be able to contribute to the achievement of the Charity's objectives.

Existing Directors retire in rotation every three years but are eligible for re-election.

All directors must be at least 18 years of age, and capable of managing their own affairs.

Qualifying third party indemnity provisions

All directors give their time voluntarily, though expenses may be paid.

None of the directors have any beneficial interest in the charitable company. All of the directors are members of the company and guarantee to contribute £10 in the event of a winding up.

Governance and management

The Governance of Lawrence Home Nursing Team is overseen by the Governance Committee. Its purpose is to ensure that the Board of Directors and its various Committees fulfil their legal, ethical and functional responsibilities thereby ensuring that good governance and management are practiced within the Charity.

Lawrence Home Nursing Team is Managed by a Board of Directors who are also Trustees and who are responsible for its strategic direction. The Directors have a wide range of relevant skills and work together to deliver the Charity's objectives.

LAWRENCE HOME NURSING TEAM LTD

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

The Board approves strategic decisions, the annual budget and monitors the financial position of the Charity on a regular basis.

Remuneration levels for employees are reviewed annually and pay rises may be given in accordance with inflation and market conditions. We also try to ensure that our remuneration levels reflect cost of living inflation and what other similar, local Charities are paying and that they also reflect the valuable work which our wonderful team undertakes.

Our Directors each have specialist skills pertinent to the operations of the Charity be it clinical, nursing and palliative care, finance, investment, fundraising or governance.

The Directors, along with senior management, are attached to one or more Committees according to their areas of expertise. Each Committee meets regularly to discuss its operations and reports to the Board on its activities and developments.

The Operations Manager attends each Committee meeting and ensures that there is alignment and good communication between the Committees and other parts of the Charity.

Before each Board meeting, the Directors receive updates on the nursing team, the financial position, the investment portfolio, fund-raising activities and governance issues from the either the Chairs of each Committee or senior managers. The Board of Directors meets quarterly.

Induction and training of new directors

All new Directors will be provided with an Induction Programme together with any training if required. New directors are given an introduction to the working of the Charity in the form of an induction programme, which standardises the appointment process and includes Charities Commission guidance on the roles and responsibilities of being a Charity Director.

Training is given as required and directors are encouraged to get to know the community we support and our staff.

Related parties and relationships with other organisations

Lawrence Home Nursing Team Limited has a long history of collaborative working with the both the third and the statutory sectors. It is our belief that working with stakeholders, other hospice care providers allow us to deliver the best quality outcomes for our patients.

We are also in receipt of a grant from the NHS during the year. The Charity also benefits from free office running costs from the NHS.

One of the directors, Joanne Cowley also received remuneration. The remuneration and mileage expenses she received was in respect of her nursing and clinical role and not her role as a director. Her remuneration structure was ratified at a directors meeting and she does not get involved in setting remuneration levels. Joanne Cowley resigned as an employee on 30 September 2022 but remains on the board as a director.

Alan and Anna Jo Mathers are both directors. Only Alan Mathers holds a key role and is a bank signatory within the Charity. They do not part take in any vote on any decisions involving their spouse.

Full details of related parties are referred to in note 21 in the Financial Statements.

Risk Management

The Directors are aware of the major risks to which the Charity is exposed (clinical, financial, operational, governance and compliance, reputational and external) and take the appropriate mitigation steps, when necessary. In particular, the Clinical Risk Register is regularly monitored and there is a Financial Risk Policy in place which is also regularly reviewed. A Risk Analysis is completed quarterly by each Committee and also the Operations manager. Risks are reviewed at each Board meeting and appropriate action taken, if required.

LAWRENCE HOME NURSING TEAM LTD

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

The trustees' report, including the strategic report, was approved by the Board of Trustees.

Richard Greaves Trustee

Date: 10 October 2023

LAWRENCE HOME NURSING TEAM LTD

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF LAWRENCE HOME NURSING TEAM LTD

I report to the trustees on my examination of the financial statements of Lawrence Home Nursing Team Ltd (the Charity) for the year ended 31 March 2023.

Responsibilities and basis of report

As the trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Charlotte Toemaes BSc FCA

Ellacotts LLP Countrywide House 23 West Bar Banbury Oxfordshire OX16 9SA

Dated: 30 November 2023

LAWRENCE HOME NURSING TEAM LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and
legacies
2
237,184
59,492
Charitable activities
3
2,520
-
Other trading
activities
4
45,840
-
Investments
5
90,212
-
Total income
375,756
59,492
Expenditure on:
Raising funds
6
64,511
-
Charitable activities
7
293,848
59,162
Total expenditure
358,359
59,162
Net gains/(losses) on
investments
11
(137,746)
-
Net (outgoing)/incoming
resources before
transfers
(120,349)
330
Gross transfers
between funds
18,330
(18,330)
Net movement in funds
(102,019)
(18,000)
Fund balances at 1 April
2022
2,311,808
18,000
Fund balances at 31
March 2023
2,209,789
-		 (Restated)
Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
296,676
260,627
100,544
2,520
6,283
-
45,840
294,964
-
90,212
77,328
-
435,248
639,202
100,544
64,511
112,119
-
353,010
269,406
82,019
417,521
381,525
82,019
(137,746)
155,844
-
(120,019)
413,521
18,525
-
525
(525)
(120,019)
414,046
18,000
2,329,808
1,897,762
-
2,209,789
2,311,808
18,000		 Total
2022
£
361,171
6,283
294,964
77,328
739,746
112,119
351,425
463,544
155,844
432,046
-
432,046
1,897,762
2,329,808

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

LAWRENCE HOME NURSING TEAM LTD

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
19
Unrestricted funds		 2023
£
£
673
2,070,901
2,071,574
36,531
123,348
159,879
(21,664)
138,215
2,209,789
-
2,209,789
2,209,789		 2022
as restated
£
£
2,180
2,108,647
2,110,827
84,118
168,684
252,802
(33,821)
218,981
2,329,808
18,000
2,311,808
2,329,808		 2022
as restated
£
£
2,180
2,108,647
2,110,827
84,118
168,684
252,802
(33,821)
218,981
2,329,808
18,000
2,311,808
2,329,808
2,110,827
218,981
2,329,808
18,000
2,311,808
2,329,808

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 10 October 2023

Richard Greaves Alan Mathers Trustee Trustee

Company registration number 12460725

LAWRENCE HOME NURSING TEAM LTD

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2023

2023
Notes
£
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
22
Investing activities
Purchase of tangible fixed assets
(425)
Purchase of investments
(100,000)
Investment income received
90,212
Net cash used in investing activities
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
£
(35,123)
(872)
(140,000)
77,328
(10,213)
-
(45,336)
168,684
123,348		 £
146,502
(63,544)
-
82,958
85,726
168,684

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Lawrence Home Nursing Team Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Chipping Norton War Memorial Community Hospital, Russell Way, London Road, Chipping Norton, Oxfordshire, OX7 5FA.

The charity is a public benefit entity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Prior period adjustment

£20,000 of grant income was treated as unrestricted within the financial statements to 31 March 2022. This income, and directly related expenditure on nurses wages, should have been treated as restricted as opposed to unrestricted. The comparative information contained within these financial statements has been adjusted to show the income and expenditure as restricted.

1.3 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.5 Income

Income for services provided is recognised when the Charity is legally entitled to it after any performance conditions have been met (i.e. the service has been provided), the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Income derived from investments is recognised on a receivables basis, when the amounts can be reliably measured, and it is probable that the income will be received.

Income from grants is recognised when there is evidence of entitlement is present, receipt is probable and its amount can be measured reliably.

Fundraising income is recognised when the event takes place.

1.6 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be reliably measured. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 33% straight line Computers 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.9 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.11 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.12 Taxation

Lawrence Nursing Home Team Limited is a registered Charity and accordingly exempt from Taxation on its income and gains where they are applied for charitable purposes.

1.13 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.15 In kind funding / support

The charity benefits from the services of volunteers, who spend many hours assisting the charity with fundraising events. The trustees are of the opinion that the volunteers' services are not reasonably quantifiable or measureable and therefore no cost is represented in the financial statements.

The Charity also benefits from office facilities at no charge from the NHS.

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
133,582
2,000
Legacies receivable
48,200
-
Grants
41,300
57,492
Other
14,102
-
237,184
59,492
Donations and gifts
Transfer from Lawrence
Home Nursing Team
-
-
Donations from
Individuals
15,602
2,000
Donations from
Organisations
15,093
-
In Memory Donations
52,576
-
Patron's Club Donations
10,000
-
Other
40,311
-
133,582
2,000		 (Restated)
(Restated)
Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
135,582
217,871
22,500
48,200
10,304
-
98,792
5,750
78,044
14,102
26,702
-
296,676
260,627
100,544
-
571
-
17,602
19,995
22,500
15,093
9,517
-
52,576
62,306
-
10,000
-
-
40,311
125,482
-
135,582
217,871
22,500		 Total
2022
£
240,371
10,304
83,794
26,702
361,171
571
42,495
9,517
62,306
-
125,482
240,371

Other donations include donations by standing order of £5,309 (2022: £4,599), carol service collections of £368 (2022: £693), donations through Just Giving, Paypal, Amazon Smile, Easy Fundraising and Giving Machine Lottery of £9,191 (2022: £16,144), events of £4,275 (2022: £95,630) and other donations totalling £21,168 (2022: £8,416), all of which is treated as unrestricted.

Grants receivable for
core activities
NHS
Hospice UK
Other		 -
-
41,300
41,300		 20,340
31,152
6,000
57,492		 20,340
31,152
47,300
98,792		 -
-
5,750
5,750		 20,000
48,644
9,400
78,044		 20,000
48,644
15,150
83,794

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

2 Donations and legacies

(Continued)

Other grants include £10,000 from the Kilroot Foundation, £5,000 from the Albert Hunt Charitable Trust, £25,000 from The Leg of Mutton Trust, £6,000 from the Zurich Community Trust (2022: £7,400) and £1,300 in Other Grants. Also in the year ended 31 March 2022, other grants included £5,000 from the Charitable Trust in the Memory of Nick Parker, £2,000 from the Doris Field Trust and £750 in Other Grants.

3 Charitable activities

Providing Providing
End of Life End of Life
Care Care
2023 2022
£ £
Outsourced Nursing Care 2,520 6,283

4 Other trading activities

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Fundraising events 45,840 294,964

5 Investments

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Income from listed investments 90,147 77,327
Interest receivable 65 1
90,212 77,328

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

6 Raising funds

**Unrestricted ** Unrestricted
funds funds
2023 2022
£ £
Fundraising and publicity
Seeking donations, grants and legacies 2,088 2,501
Staging fundraising events 13,826 64,484
Staff costs 48,597 45,134
Fundraising and publicity 64,511 112,119
Charitable activities
Providing
Providing
End of Life
End of Life
Care Care
2023 2022
£ £
Staff costs 260,847 271,099
Nursing Mileage 9,413 12,261
Nurses Training and Uniform 1,776 1,130
Nursing Equipment 190 267
Nurses meetings 328 -
272,554 284,757
Share of support costs (see note 8) 78,047 63,365
Share of governance costs (see note 8) 2,409 3,303
353,010 351,425
Analysis by fund
Unrestricted funds 293,848 269,406
Restricted funds 59,162 82,019
353,010 351,425

7 Charitable activities

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

8 Support costs

Support
costs
Governance
costs
£
£
Staff costs
49,753
-
Depreciation
1,932
-
Insurance
9,445
-
Paypal and Just-Giving Charges
1,188
-
Other Staff Costs
4,722
-
Repairs and Maintenance
155
-
Office Expenditure
5,945
-
Marketing
859
-
Accountancy and Payroll Costs
2,134
-
Subscriptions
1,334
-
Sundry Expenses
580
-
Independent Examiners Fee
-
1,500
Legal and professional
-
909
78,047
2,409
Analysed between
Charitable activities
78,047
2,409		 2023
£
49,753
1,932
9,445
1,188
4,722
155
5,945
859
2,134
1,334
580
1,500
909
80,456
80,456		 2022
£
41,069
1,857
5,883
1,995
4,426
43
5,043
1,520
245
972
312
1,290
2,013
66,668
66,668

Governance costs includes payments to the Independent Examiners of £1,500 (2022: £1,290) for Independent Examination fees.

9 Trustees

During the year Joanne Cowley was remunerated a total of £1,473 (2022: £3,015) for her services as a nurse whilst also acting as a trustee of the charity. Joanne was also reimbursed a total of £164 (2022: £403) for mileage incurred for nursing duties in visiting patients.

During the year no other trustee received remuneration nor reimbursement of expenses.

10 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Admin 2 2
Fundraising 1 1
Nursing manager 1 1
Nurses 15 16
Total 19 20

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2023
2022
£
£
327,253
328,181
22,242
20,837
9,702
8,284
359,197
357,302		 (Continued)
2023
2022
£
£
327,253
328,181
22,242
20,837
9,702
8,284
359,197
357,302
357,302

10 Employees

There were no employees whose annual remuneration was £60,000 or more.

11 Net gains/(losses) on investments

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds
2023 2022
£ £
Revaluation of investments (137,746) 155,844

12 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

13 Tangible fixed assets

Fixtures and
fittings
£
Cost
At 1 April 2022
533
Additions
425
At 31 March 2023
958
Depreciation and impairment
At 1 April 2022
533
Depreciation charged in the year
94
At 31 March 2023
627
Carrying amount
At 31 March 2023
331
At 31 March 2022
-
14
Fixed asset investments		 Computers
£
5,570
-
5,570
3,390
1,838
5,228
342
2,180		 Total
£
6,103
425
6,528
3,923
1,932
5,855
673
2,180
Listed
investments
£
Cost or valuation
At 1 April 2022 2,108,647
Additions 100,000
Valuation changes (137,746)
At 31 March 2023 2,070,901
Carrying amount
At 31 March 2023 2,070,901
At 31 March 2022 2,108,647

15 Debtors

Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2023
£
14,351
22,180
36,531		 2022
£
60,629
23,489
84,118

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

15 Debtors

(Continued)

Other debtors include grants receivable for core activities of £nil (2022: £34,974), due from HM Revenue & Customs for Gift Aid of £11,249 (2022: £20,975) and VAT of £2,684 (2022: £2,537). A total of £418 (2022: £2,123) was due from Just Giving, Much Loved Giving Site and UK Online Giving and £nil (2022: £20) due from an employee.

16 Creditors: amounts falling due within one year

Notes
Deferred income
17
Trade creditors
Other creditors
Accruals		 2023
£
11,135
2,238
2,064
6,227
21,664		 2022
£
20,475
1,688
1,630
10,028
33,821

Other creditors of £2,064 (2022: £1,630) relates to March 2023 pension contributions. This was settled in April 2023.

17 Deferred income

2023 2022
£ £
Arising from Future events 11,135 20,475
Deferred income is included in the financial statements as follows:
2023 2022
£ £
Deferred income is included within:
Current liabilities 11,135 20,475
Movements in the year:
Deferred income at 1 April 2022 20,475 35,303
Released from previous periods (20,475) (35,303)
Resources deferred in the year 11,135 20,475
Deferred income at 31 March 2023 11,135 20,475

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

18 Retirement benefit schemes

Defined contribution schemes

The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.

The charge to profit and loss in respect of defined contribution schemes was £9,702 (2022: £8,284).

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

19

Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

r
National Health Service England - Hospice UK
Nursing Care
Staff Welfare Fund
Trustee Development Fund and Legal Advice
NHS Grant Fund		 Movement in funds
Incoming
esources
Resources
expended
£
£
48,644
(48,644)
9,400
(9,400)
2,500
(1,975)
20,000
(2,000)
20,000
(20,000)
100,544
(82,019)		 Transfers
Balance at
1 April 2022
r
£
£
-
-
-
-
(525)
-
-
18,000
-
-
(525)
18,000		 Movement in funds
Incoming
esources
Resources
expended
£
£
31,152
(31,152)
6,000
(6,000)
2,000
(1,670)
-
-
20,340
(20,340)
59,492
(59,162)		 Transfers
Balance at
31 March 2023
£
£
-
-
-
-
(330)
-
(18,000)
-
-
-
(18,330)
-		 Transfers
Balance at
31 March 2023
£
£
-
-
-
-
(330)
-
(18,000)
-
-
-
(18,330)
-
-

National Health Service England ("NHSE") - Hospice UK

The National Health Service England awarded funding to allow the hospice to make available bed capacity and community support from December 2021 to March 2023 to provide support to people with complex needs in the context of the Covid 19 situation.

Nursing Care

Donations specified were for the purpose of being allocated to nursing costs, this fund was fully utilised in the year.

Trustee Development Fund and Legal Advice

This was funded by a donation of £20,000 from Anthony Yarrow, a director (Resigned 13 July 2022) of the charity for the purpose of providing a training and development program to help with the expansion of the charity and to help pay for legal advice following the treatment of a donation to Great Tew church following a fundraising event. The charity decided to not proceed with the development program and the donor granted permission to transfer the remaining funds to be used towards the general running costs of the charity.

NHS Grant

This grant represents annual income received from the NHS to cover nurses wage costs.

Staff Welfare Fund

Monies restricted within the Staff Welfare Fund are held primarily to celebrate and promote the contribution that key members have had on the Charity since its creation.

LAWRENCE HOME NURSING TEAM LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

20 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
March 2023 are
represented by:
Tangible assets
673
-
Investments
2,070,901
-
Current assets/(liabilities)
138,215
-
2,209,789
-		 (Restated)
(Restated)
Total Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
673
2,180
-
2,070,901
2,108,647
-
138,215
200,981
18,000
2,209,789
2,311,808
18,000		 Total
2022
£
2,180
2,108,647
218,981
2,329,808

21 Related party transactions

Transactions with related parties

During the year trustee donations totalled £2,175 (2022: £22,820).

During the year related party donations totalled £23,768 (2022: £21,594). There was no deferred income for sponsorship monies from related parties during the year (2022: £2,000).

During the year the investments of the charity were managed by Wise Funds Limited of which Anthony Yarrow, a former trustee, was also a Director until he resigned in June 2021. Anthony resigned as Trustee of Lawrence Home Nursing Team Limited on 13 July 2022 and continued to manage the portfolio until 31 March 2023. Wise Funds Limited provided investment management charges at £Nil (2022: £Nil) cost to the charity.

22
Cash generated from operations
(Deficit)/surpus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in debtors
(Decrease)/increase in creditors
(Decrease) in deferred income
Cash (absorbed by)/generated from operations		 2023
£
(120,019)
(90,212)
137,746
1,932
47,587
(2,817)
(9,340)
(35,123)		 2022
£
432,046
(77,328)
(155,844)
1,857
(41,077)
1,676
(14,828)
146,502