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2024-03-31-accounts

Charity registration number 1189565

Company registration number 12460725 (England and Wales)

LAWRENCE HOME NURSING TEAM LTD

T/A LAWRENCE NURSES

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Richard Greaves
Dr Emma Hallam-Evans
Robert Johnston
Alan Mathers
Anna Jo Mathers
Jennifer Nolan MBE (Appointed 6 September
2023)
John Pritchard
Dr Jonathan Williams (Appointed 30 January
2024)
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 Demsey Slater BSc FCCA
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
Bankers Barclays Bank Plc
32 Bridge St
Banbury
Oxfordshire
OX16 5PN
Investment managers Wise Investments Ltd
The Great Barn
Chalford Park Barns
Oxford Road
Chipping Norton
Oxfordshire
OX7 5QR

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES 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 - 28

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their report and financial statements for the year ended 31 March 2024.

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.

The board decided that after 25 years the Charity branding needed to be refreshed to make it more appealing and relevant to the digital age. There had also been some confusion in the community about the name and the service that the Charity provided. Russell Hancock from Extra Strong was instructed to carry out a rebranding of the Charity and after extensive consultation with the Board, team members and other stakeholders the new marketing name of ‘Lawrence Nurses’ was chosen along with the supporting slogan – ‘Hospice care in your home’. The new icon of two intertwined trees reflects the unity and collaboration of the two founders, the Doctor, Martin Lawrence, and the Nurse, Jane Phillips MBE. Our new logo conveys the charity's identity and story to its stakeholders.

The legal name of the Charity remains Lawrence Home Nursing Team for regulatory and statutory purposes.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Charitable activities

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

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.

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.

We also have a Senior Management Team consisting of a Registered Nursing Manager, Operations Manager, Fundraising and Communications Manager, and a Finance Manager.

During the year, our interim Registered Manager, Michelle Booth retired, and our new permanent Registered Manager, Wendy Palfrey commenced working for us.

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 for our service. We have also introduced a monthly staff newsletter and whole nursing team meetings to enhance teambuilding and communication.

Pay rises during the year were in line with the inflation.

Volunteers

We have a core group of 13 volunteers who continue to give their time freely to attend monthly support group meetings as well as supporting a full program of fundraising events and activities and also taking on their own charity fundraisers. We are so grateful for the support they give the Charity.

Madeleine Rickard continues to lead on the collection and management of the collecting tubs which are displayed at local businesses within our catchment area.

Three new volunteers joined our group at the beginning of 2024 after attending local awareness raising talks held in 2023. One long standing volunteer, Julia Ayres, has stepped down from the group but continues to be an ambassador for the charity by raising awareness where she lives.

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.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

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:

End of Life Care at Home

Our palliative nursing care capacity has increased in comparison to the previous financial year. The clinical activity for the year is summarised as follows:-

Year Ended
31 March 2024		 Year Ended
31 March 2023
Total Patient Referrals 111 101
Completed Episodes of Care 67 82
Total Patient Visits 846 675
Total Day Visits 532 430
Total Night Visits 314 245
Total Nursing Hours 3,843.5 3,083
Total Day Hours 1,147 922
Total Night hours 2,696.5 2,162

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 five general practitioner surgeries we cover.

Support Walks

We ascertained and researched the need for a bereavement support walk within the local area. The Registered Nurse Manager reviewed the services provided by comparable organisations and completed relevant training with a view to implementing the support walks in May 2024. We were able to secure grants from Chipping Norton Town Council, Oxon Community Fund and the Mid-counties Co-op.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Fundraising activities

Lawrence Home Nursing Team Limited, now trading as Lawrence Nurses, employs a dedicated full-time Fundraising and Communications Manager.

Fundraising involves a wide range of fundraising activities to support the delivery of end of life nursing care. The cost and demand of the service has increased and therefore we have increased our fundraising activities to help meet our rising costs.

As ever we are very grateful to the community, our supporters, local businesses and our charity partners who continue to support us and to raise significant sums of money. This includes organising their own public fundraising campaigns, sponsoring and attending our events, supporting us via the online lottery or one of the online shopping platforms, buying our Christmas cards or making donations.

Special thanks should be made to our charity partners, Zurich Community Trust (ZCT) and Your Co-op Community for their continued partnership with Lawrence Nurses. They have both generously given grants in the year and in addition;

A team from ZCT also provided voluntary help by running the children's activities at The Dent Polo Cup in July 2023. We also have been able to benefit from ZCT's government training and development apprenticeship levy. We been able to access free strategic leadership and data management courses for two members of staff.

Your Co-op Community sold our Christmas cards in store and raising awareness of the charity by displaying our collecting tubs and buckets in the store.

We have also started to develop a Customer Relationship Management (CRM) database to centralise our data management, improve and tailor our communications with stakeholders, enhance donor relationships and to streamline and automate various administrative tasks and fundraising booking.

The Patrons' Club of major donors is fully operational and is a vital income stream. The majority of donors have committed to support the charity for three years. The total amount received in this financial year was £95,368 (2023 - £10,000).

Successful fundraising events in 2023-2024 included Proms, Picnic and Fireworks, The Dent Polo Cup, The Old Bags Handbag Sale and An Evening with Miriam Margolyes. Special thanks should be given to our event sponsors including Wise Investments Ltd and Wise Funds Ltd, Wheelers Garage, Savills, J Rigg Construction Ltd, Fairfax and Favor and Robert Johnston Associates Ltd.

We continued our awareness raising talks in the community. The Fundraising and Communications Manager was supported by volunteers, a Nurse Coordinator and the Registered Nurse Manager.

We also held our Annual Candles of Remembrance Service in December 2023 at The Methodist Church, Chipping Norton and various Christmas card sales took place in community halls in Charlbury and Enstone.

Supporters including David Best, ran the Great South Half Marathon and Oxford Half Marathon for the charity. Claire Swan and John Ainley continued to open their gardens with tours and afternoon tea in South Newington.

We have been very grateful for all the support and donations received in the current challenging economic climate.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Investment performance

Our portfolio has been remarkably resilient during recent global events and up to the present time. The value of the portfolio has increased to £2,130,715 (2023: £2,070,901).

Our dividend income for the year ended 31 March 2024 increased to £102,086 (2023: £90,147).

We became a formal client of Wise Investments Limited halfway through the year; and fees to manage our portfolio amounted to £7,721 (2023 - £nil). We are very grateful for the advice provided by Tony Yarrow for so many years prior to the appointment of Wise Investments Limited.

Additions totalling £50,000 were added to the portfolio during the year as a result of fundraising activity, generous donations, legacies and grants received. We withdrew £30,000 from the investments over winter months to maintain the working capital levels when cashflow was low, due to a reduction in fundraising activities at this time of the year.

During the year, we also transferred our entire portfolio onto a platform with Pershing, which will allow us to react quicker to changes in the markets. The Directors have again adopted a medium risk investment policy throughout the year.

In recent years, we have witnessed significant market fluctuations influenced by various factors. The conflict in Ukraine and the tightening of monetary policy (increasing of interest rates) to combat post-COVID inflation. However, there was a strong rebound in late 2023 as central banks halted interest rate hikes, and markets have even reached new highs in 2024.

While global equities continue to be well-positioned for long-term returns, we are mindful of valuations and the potential volatility they may exhibit, particularly during periods of heightened enthusiasm like the present. To manage volatility, the largest fund has around 15% exposure in global government bonds. Due to rising interest rates, bonds can now provide reasonable stable returns for investors and can act as a stabiliser against the turbulence of equity markets.

Therefore, we continue to actively seek investment opportunities within specific asset classes, sectors, or geographies that we believe offer good value and can provide superior risk-adjusted returns for investors.

Financial review

Principal funding sources

The Charity has remained in a good financial position throughout this and the previous year with generous donations, legacies and grants. We have also had a full year of fundraising events in this and the previous year.

Total income for the year is £447,596 (2023: £435,248).

We received voluntary income of £247,194 (2023: £282,574) during the year ended 31 March 2024 which includes £170,714 (2023: £135,582) received as gifts and donations, the uplift is a direct result of a full year of Patrons' Club donations.

The in-memory donations have remained strong with funeral collection, public fundraisers in memory of a loved one and legacies. Legacies totalled £30,123 (2023: £48,200). The slight reduction in income for memory giving is considered to be related to the general impact of the cost of living inflation.

We received a grant from the NHS amounting to £20,706 (2023: £20,340). The Covid-19 support from Hospice UK ceased during the last financial year, no money was therefore received in this financial year (2023: £31,152).

We also received other grants from charitable trusts totalling £25,651 (2023: £47,300) for the year.

During the year, we also received gift aid income totalling £21,303 (2023: £14,102).

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Activities for generating funds have included the sale of Christmas cards, which generated an income of £3,151 (2023: £3,621) and an overall surplus of £509 (2023: £1,533). Collection boxes generated £1,553 (2023: £1,858). 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 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 £71,819 (2023: £40,361) and an overall surplus of £44,668 (2023: £26,535). The surplus does not take account of staff costs associated with fundraising and publicity or donations which have been made as a direct result of fundraising activities. Our fundraising events increase the Charity's profile.

Investment income received has increased to £102,576 (2023: £90,212), and sponsorship income has remained consistent against the previous year.

Reserves policy

The reserves of the Charity as at 31 March 2024 are £2,197,892 (2023: £2,209,789), which are made up of £2,188,282 as unrestricted funds (2023: £2,209,789) and £9,610 as restricted funds (2023: £nil). The level of free reserves, being total funds, less restricted funds, less fixed assets, was £56,160 (2023: £138,215).

The restricted funds held at 31 March 2024 related to a bereavement walks program and towards the wages for the appointment of a Health Care Assistant.

The restricted funds in the year are tabled in note 20 and can be seen as follows:-

There were grants totalling £6,600 which was specified to be applied against nurses’ wages. These grants were fully applied against nurses’ wages in the year (2023: £37,152 (which included the final Hospice UK payment)). In addition, a grant of £4,409 (2023: £nil) was also given towards the recruitment and salary of a Health Care Assistant, so far, we have been unable to recruit for this position.

There were grants totalling £7,092 (2023: £nil) for the purpose of providing Bereavement Support Walks, which will commence after the year end. We spent £1,891 of the grant in the year on training and research. The balance of the fund at the year-end was £5,201 which will be expended in the following financial year (2023: £nil).

Grants totalling £20,706 (2023: £20,340) represents annual income received from the NHS and was fully applied against nurses’ wages in the year.

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.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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 amounting to £11,897 has been made this year (2023: £120,019). This is made up of operating deficit of £51,711 (2023: surplus £17,727). The operating deficit has arisen as a result of our expenditure increasing for the year in regard cost of living inflation whether this be for staff wages or supplies to help run the Charity. We also incurred one off costs such as the brand development project and also incurred new ongoing expenditure for the donor and fundraising database, lone worker alarms for our nurses and investment management costs. The income has slightly dropped against the previous year as the current economic climate has also impacted the donations we receive and impacted fundraising events too.

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 sold £30,000 of investment to meet working capital needs during the winter months when income streams were at their lowest.

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. 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.

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.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

There are no limitations on where we can invest. Over the last few years, we have been able to derive a more attractive level of income from the shares of sound, long-established companies rather than from fixed interest markets (government or company loans) or cash. We invest in company shares currently through three longestablished funds. All funds have produced above-average returns over the medium and longer term. Over the course of the year, we have transferred our investments to a platform with Pershing. This move has allowed us to make changes within the funds swiftly and offers greater investment flexibility. Looking ahead, we are planning to make strategic switches within the portfolio before 31 March 2025. The aim is to reduce our exposure to UK Equities and instead, allocate more towards global equities. By doing so, we aim to capitalise on the growth potential that global markets offer. Additionally, this adjustment will further diversify our portfolio, providing us with a well-rounded investment strategy.

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.

Plans for future periods

The year ended 31 March 2025 is a very special year for us, being the 25th year since the charity was founded and lots of anniversary fundraising events have been planned. We launched the re-branding of the charity at the 25th anniversary tea party on 4 May 2024. The Charity's trading name has become Lawrence Nurses.

We have continued to recruit nurses to our team. Staff benefits have been reviewed including holiday pay, income protection and death in service benefits, and these changes are intending to come into force during the next financial year.

Our bereavement walk support program will commence from May 2024.

We are currently reviewing our premises needs and hope to action any recommendations during the year ended 31 March 2025.

We will continue developing our Customer Relationship Management (CRM) database system and hope to have this fully operational by March 2025.

We are organising a wide range of fundraising events to celebrate 25 years of Lawrence Nurses and to encourage discussions about death and dying with a talk by Dr Kathryn Mannix at Green Templeton College, Oxford. This will be followed by a 25th anniversary tea party at The Town Hall in Chipping Norton and a celebratory dinner party in June 2024 at Great Tew Park. We will also be holding a 25th anniversary golf day at Wychwood Golf Club, a cricket match at Sandford St Martin Cricket Club and open gardens viewing.

We will continue to approach individuals to join the Patrons' Club.

We will continue with awareness raising talks to groups in Charlbury and in other towns and villages in our catchment area. We will aim to produce an autumn newsletter alongside our Christmas cards.

We will explore match funding opportunities with corporate partners and seek new charity partnerships with local supermarkets and also continue to apply for new grant opportunities as we appreciate grants given in the past are not always guaranteed to be received again in the future.

Going Concern

There are no going concern issues to report and the Directors are confident of the charity's ability to continue.

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.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

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 (Resigned 26 August 2024) Catherine Elliott (Resigned 10 October 2023) Richard Greaves Dr Emma Hallam-Evans Robert Johnston Alan Mathers Anna Jo Mathers Jennifer Nolan MBE (Appointed 6 September 2023) John Pritchard Vivian Woodell (Resigned 10 October 2023) Dr Jonathan Williams (Appointed 30 January 2024)

Appointment of new directors

New Directors are appointed by the Board of Directors or alternatively at the Annual General Meeting 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 the person will be able to contribute to the achievement of the Charity's objectives. A ‘Fit and Proper’ persons check is undertaken together with a DBS check prior to the recruitment process as well as two references. We have developed a standard reference template to ensure consistence information is obtained at the reference stage.

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. The charity has complied with all its regulatory and statutory requirements.

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. The Charity also has a Senior Management Team who aid the day to day running of the Charity.

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.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

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.

Regular Board meetings provide for holding to account, scrutiny, support and guidance to ensure that the decision making is well informed and timely. Work continues to ensure our governance and all policies and procedures are in line with legal requirements that we must adhere to, as well as those which have been introduced by our Governance Committee.

Induction and training of new Directors

All new Directors will be provided with an induction programme which provides an introduction to the working of the Charity and which standardises the appointment process. It includes Charities Commission guidance on the roles and responsibilities of being a Charity Trustee and Director. Following the induction programme, training may be provided if required.

All Directors are encouraged to get to know the community we support and our staff - in particular the nursing team.

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 and 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 has also benefitted from free office running costs from the NHS in this and the previous year.

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 23 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 collated by the Operations Manager. Risks are reviewed at each Board meeting and appropriate action taken, if required.

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

Richard Greaves

Trustee

Date: 19 September 2024

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES 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 2024.

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.

Demsey Slater BSc FCCA

Countrywide House 23 West Bar Banbury Oxfordshire OX16 9SA England

Dated: 24 September 2024

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and
legacies
2
229,690
38,807
Charitable activities
3
-
-
Other trading
activities
4
76,523
-
Investments
5
102,576
-
Total income
408,789
38,807
Expenditure on:
Raising funds
6
81,868
-
Charitable activities
7
388,242
29,197
Total expenditure
470,110
29,197
Net gains/(losses) on
investments
12
39,814
-
Gross transfers
between funds
-
-
Net movement in funds
(21,507)
9,610
Fund balances at 1 April
2023
2,209,789
-
Fund balances at 31
March 2024
2,188,282
9,610		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
268,497
237,184
59,492
-
2,520
-
76,523
45,840
-
102,576
90,212
-
447,596
375,756
59,492
81,868
64,511
-
417,439
293,848
59,162
499,307
358,359
59,162
39,814
(137,746)
-
-
18,330
(18,330)
(11,897)
(102,019)
(18,000)
2,209,789
2,311,808
18,000
2,197,892
2,209,789
-		 Total
2023
£
296,676
2,520
45,840
90,212
435,248
64,511
353,010
417,521
(137,746)
-
(120,019)
2,329,808
2,209,789

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

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 T/A LAWRENCE NURSES BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
14
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
20
Unrestricted funds		 2024
£
£
1,407
2,130,715
2,132,122
34,343
43,959
78,302
(12,532)
65,770
2,197,892
9,610
2,188,282
2,197,892		 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		 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
2,071,574
138,215
2,209,789
-
2,209,789
2,209,789

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 2024.

The Directors acknowledge their 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 19 September 2024

Richard Greaves Trustee

Alan Mathers Trustee

Company registration number 12460725

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash absorbed by operations
24
Investing activities
Purchase of tangible fixed assets
Purchase of investments
Proceeds from disposal of investments
Investment income received
Net cash generated from/(used in)
investing activities
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
2023
£
£
£
(159,422)
(2,543)
(425)
(50,000)
(100,000)
30,000
-
102,576
90,212
80,033
-
(79,389)
123,348
43,959		 £
(35,123)
(10,213)
-
(45,336)
168,684
123,348

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

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 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.

1.3 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 or grantors 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.

1.4 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.

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.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 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.

1.6 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.

1.7 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.

1.8 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).

1.9 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.

1.10 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.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

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.

1.11 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.

1.12 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.

1.13 Retirement benefits

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

1.14 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 has also benefitted from office facilities at no charge from the NHS in this and the previous year.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
170,714
-
Legacies receivable
30,123
-
Grants
7,550
38,807
Other (Gift aid)
21,303
-
229,690
38,807
Donations and gifts
Donations from
Individuals
6,662
-
Donations from
Organisations
6,211
-
In Memory Donations
40,091
-
Patron's Club Donations
95,368
-
Other
22,382
-
170,714
-		 Total Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
170,714
133,582
2,000
30,123
48,200
-
46,357
41,300
57,492
21,303
14,102
-
268,497
237,184
59,492
6,662
15,602
2,000
6,211
15,093
-
40,091
52,576
-
95,368
10,000
-
22,382
40,311
-
170,714
133,582
2,000		 Total
2023
£
135,582
48,200
98,792
14,102
296,676
17,602
15,093
52,576
10,000
40,311
135,582

Other donations include donations by standing order of £8,559 (2023: £5,309), carol service collections of £282 (2023: £368), donations through Just Giving, Paypal, Amazon Smile, Easy Fundraising and Giving Machine Lottery of £12,041 (2023: £9,191), events of £1,450 (2023: £4,275) and other small donations totalling £50 (2023: £21,168), all of which is treated as unrestricted.

Grants receivable for
core activities
NHS
Hospice UK
Other		 -
-
7,550
7,550		 20,706
-
18,101
38,807		 20,706
-
25,651
46,357		 -
-
41,300
41,300		 20,340
31,152
6,000
57,492		 20,340
31,152
47,300
98,792

Other grants include £500 from the Edward Cadbury Trust, £3,750 from the Greyling Charity, £500 from the RAK Charitable Trust, £800 from The Peter Ward Charity, £1,000 from the Schuster Charity, £1,000 from the Sinclair Charitable Trust, £4,408 from the Health Care Assistant Grant, £7,093 from the Bereavement Support Walk Group and £6,600 from the Zurich Community Trust (2023: £6,000).

Also for the year ended 31 March 2023, the following grants were received: £10,000 from Kilroot Foundation, £5,000 from the Albert Hunt Charitable Trust, £25,000 from Leg Of Mutton Trust and £1,300 in other grants.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

3 Income from charitable activities

4
5
6		 Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Providing end of life care
Outsourced nursing care
-
2,520
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising events
76,523
45,840
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Income from listed investments
102,086
90,147
Interest receivable
490
65
102,576
90,212		 Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Providing end of life care
Outsourced nursing care
-
2,520
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising events
76,523
45,840
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Income from listed investments
102,086
90,147
Interest receivable
490
65
102,576
90,212		 Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Providing end of life care
Outsourced nursing care
-
2,520
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Fundraising events
76,523
45,840
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Income from listed investments
102,086
90,147
Interest receivable
490
65
102,576
90,212
90,212
Raising funds
Unrestricted Unrestricted
funds
funds
2024
2023
£
£
Fundraising and publicity
Christmas card expenditure
2,642
2,088
Staging fundraising events
27,151
13,826
Staff costs
52,075
48,597
Fundraising and publicity
81,868
64,511
64,511

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

7 Expenditure on charitable activities

Providing Providing
end of life end of life
care care
2024 2023
£ £
Direct costs
Staff costs 302,524 260,847
Nursing mileage 10,607 9,413
Nurses training and uniform 1,595 1,776
Nursing equipment and supplies 2,266 190
Nurses meetings 236 328
317,228 272,554
Share of support and governance costs (see note 8)
Support 98,295 78,047
Governance 1,916 2,409
417,439 353,010
Analysis by fund
Unrestricted funds 388,242 293,848
Restricted funds 29,197 59,162
417,439 353,010
8 Support costs allocated to activities
2024 2023
£ £
Staff costs 57,002 49,753
Depreciation 1,809 1,932
Insurance 10,187 9,445
Paypal and Just Giving charges 2,145 1,188
Other staff costs 3,453 4,722
Repairs and maintenance 30 155
Office expenditure 6,894 5,945
Marketing 5,742 859
Accountancy and payroll costs 1,615 2,134
Subscriptions 926 1,334
Sundry expenses 771 580
Portfolio investment fees 7,721 -
Governance costs 1,916 2,409
100,211 80,456
Analysed between:
Providing end of life care 100,211 80,456

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

8
Support costs allocated to activities
Governance costs comprise:
Legal and professional
Independent Examiners fee
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets		 (Continued)
2024
2023
£
£
366
909
1,550
1,500
1,916
2,409
2024
2023
£
£
1,809
1,932		 (Continued)
2024
2023
£
£
366
909
1,550
1,500
1,916
2,409
2024
2023
£
£
1,809
1,932
2,409
2023
£
1,932

10 Trustees

During the year Joanne Cowley was remunerated a total of £nil (2023: £1,473) for her services as a nurse whilst also acting as a trustee of the charity. Joanne was also reimbursed a total of £nil (2023: £164) for mileage incurred for nursing duties in visiting patients.

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

11 Employees

The average monthly number of employees during the year was:

Admin
Fundraising
Nursing Manager
Nurses
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
2
1
1
14
18
2024
£
368,179
26,734
16,688
411,601		 2023
Number
2
1
1
15
19
2023
£
327,253
22,242
9,702
359,197

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

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

12 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2024 2023
Gains/(losses) arising on: £ £
Revaluation of investments 31,560 (137,746)
Sale of investments 8,254 -
39,814 (137,746)

13 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.

14 Tangible fixed assets

Tangible fixed assets
Fixtures and
fittings
Computers
£
£
Cost
At 1 April 2023
958
5,570
Additions
1,123
1,420
At 31 March 2024
2,081
6,990
Depreciation and impairment
At 1 April 2023
627
5,228
Depreciation charged in the year
407
1,402
At 31 March 2024
1,034
6,630
Carrying amount
At 31 March 2024
1,047
360
At 31 March 2023
331
342		 Total
£
6,528
2,543
9,071
5,855
1,809
7,664
1,407
673

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

15 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 April 2023 2,070,901
Additions 50,000
Valuation changes 39,814
Disposals (30,000)
At 31 March 2024 2,130,715
Carrying amount
At 31 March 2024 2,130,715
At 31 March 2023 2,070,901

16 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2024
£
199
19,151
14,993
34,343		 2023
£
-
14,351
22,180
36,531

Other debtors include grants receivable, due from HM Revenue & Customs for Gift Aid of £14,996 (2023: £11,249) and VAT of £3,894 (2023: £2,684). A total of £261 (2023: £418) was due from Just Giving, Much Loved Giving Site and UK Online Giving.

17 Creditors: amounts falling due within one year

Notes
Deferred income
18
Trade creditors
Other creditors
Accruals		 2024
£
300
578
2,977
8,677
12,532		 2023
£
11,135
2,238
2,064
6,227
21,664

Other creditors of £2,977 (2023: £2,064) relates to March 2024 pension contributions. This was settled in April 2024.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

18 Deferred income

2024 2023
£ £
Arising from Future events 300 11,135
Deferred income is included in the financial statements as follows:
2024 2023
£ £
Deferred income is included within:
Current liabilities 300 11,135
Movements in the year:
Deferred income at 1 April 2023 11,135 20,475
Released from previous periods (11,135) (20,475)
Resources deferred in the year 300 11,135
Deferred income at 31 March 2024 300 11,135
19 Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 16,688 9,702

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.

Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement in funds
Movement in funds		 Balance at
Incoming
Resources
Transfers
Balance at
Incoming
Resources
Balance at		 1 April 2022
resources
expended
1 April 2023
resources
expended
31 March 2024		 £
£
£
£
£
£
£
£		 National Health Service England - Hospice UK
-
31,152
(31,152)
-
-
-
-
-		 Nursing Care
-
6,000
(6,000)
-
-
6,600
(6,600)
-		 Staff Welfare Fund
-
2,000
(1,670)
(330)
-
-
-
-		 Trustee Development Fund and Legal Advice
18,000
-
-
(18,000)
-
-
-
-		 NHS Grant Fund
-
20,340
(20,340)
-
-
20,706
(20,706)
-		 Bereavement Support Walks
-
-
-
-
-
7,092
(1,891)
5,201		 Health Care Assistant Grant
-
-
-
-
-
4,409
-
4,409		 18,000
59,492
(59,162)
(18,330)
-
38,807
(29,197)
9,610
20
Restricted funds
(Continued)		 National Health Service England ("NHSE") -Hospice UK National Health Service England ("NHSE") -Hospice UK 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 2022 The National Health Service England awarded funding to allow the hospice to make available bed capacity and community support from December 2021 to March 2022 to provide support to people with complex needs in the context of the Covid-19 situation. The final amounts of income were received during the prior year. All funds have to provide support to people with complex needs in the context of the Covid-19 situation. The final amounts of income were received during the prior year. All funds have been fully expended against nurses wages. Nursing Care Donations and grants specified were for the purpose of being allocated to nursing costs, this fund was fully utilised in the year. Donations and grants 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 Trustee Development Fund and Legal Advice This fund was 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. The charity This fund was 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. The charity decided to not proceed with the development program and in the prior year 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 grant income received from the NHS to cover nurses wage costs. This grant represents grant 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. 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. Bereavement Support Walk Group Bereavement Support Walk Group Bereavement Support Walk Group The fund was for the purposes of providing bereavement support walks. The support walks commenced from May 2024. The costs incurred in the year related to research and training. Health Care Assistant Grant Health Care Assistant Grant A grant was given to employ a band 3 Health Care Assistant. The position had not be recruited as at 31 March 2024. A grant was given to employ a band 3 Health Care Assistant. The position had not be recruited as at 31 March 2024.
20

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

21 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April
2023
Incoming
resources
Resources
expended
£
£
£
General funds
2,209,789
408,789
(470,110)
Previous year:
At 1 April
2022
Incoming
resources
Resources
expended
£
£
£
General funds
2,311,808
375,756
(358,359)
22
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Total
2024
2024
2024
£
£
£
Fund balances at 31
March 2024 are
represented by:
Tangible assets
1,407
-
1,407
Investments
2,130,715
-
2,130,715
Current assets/(liabilities)
55,048
10,722
65,770
2,187,170
10,722
2,197,892		 At 1 April
2023
Incoming
resources
Resources
expended
£
£
£
General funds
2,209,789
408,789
(470,110)
Previous year:
At 1 April
2022
Incoming
resources
Resources
expended
£
£
£
General funds
2,311,808
375,756
(358,359)
22
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Total
2024
2024
2024
£
£
£
Fund balances at 31
March 2024 are
represented by:
Tangible assets
1,407
-
1,407
Investments
2,130,715
-
2,130,715
Current assets/(liabilities)
55,048
10,722
65,770
2,187,170
10,722
2,197,892		 Transfers
Gains and
losses
At 31 March
2024
£
£
£
-
39,814
2,188,282
Transfers
Gains and
losses
At 31 March
2023
£
£
£
18,330
(137,746)
2,209,789
Unrestricted
funds
Restricted
funds
Total
2023
2023
2023
£
£
£
673
-
673
2,070,901
-
2,070,901
138,215
-
138,215
2,209,789
-
2,209,789
2,197,892

23 Related party transactions

Transactions with related parties

During the year trustee donations totalled £5,150 (2023: £2,175).

During the year related party donations and sponsorship totalled £19,335 (2023: £23,768). There was no deferred income for sponsorship monies from related parties during this or the previous year.

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 we became a formal client of Wise Funds Limited.

LAWRENCE HOME NURSING TEAM LTD T/A LAWRENCE NURSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

24 Cash generated from operations 2024 2023
£ £
Deficit for the year (11,897) (120,019)
Adjustments for:
Investment income recognised in statement of financial activities (102,576) (90,212)
Gain on disposal of investments (8,254) -
Fair value gains and losses on investments (31,560) 137,746
Depreciation and impairment of tangible fixed assets 1,809 1,932
Movements in working capital:
Decrease in debtors 2,188 47,587
Increase/(decrease) in creditors 1,703 (2,817)
(Decrease) in deferred income (10,835) (9,340)
Cash absorbed by operations (159,422) (35,123)