RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Registered Company Number: 14355610 Registered Charity Number: 1201713 CONTENTS Administrative details Chair's Report Trustees, Report Independent Auditors Report 26 Consolidated Statement of Financial Activities 30 Consolidated Balance Sheet 31 Consolidated Statement of Cash Flows 32 Notes to the financial statements 33 I I Page RENNIE GROVE PEACE HOSPICE CARE ADMINISTRATIVE DETAILS Charlty Name Rennle Grove pea￿ Hosplce Care Charity Number 1201713 Company Number Registsred Office 14355610 Peace HOs￿(e Peace Drwe Watford Hertffordshlre. WD17 3PH Trustees All App￿nted 14 September 2022 or as stated below Dr J Shindler (Chairman) Mr C Inman OBE (VI￿ Chairman) Mr J Wroe (Treasurer) Mrs E Moralez-Perez Mrs E Coleridge Smith (AptN)inted 23 Fe￿KuarY 2023) Mr G Davis Mr A Graharn MBE Mr M Ferguson Mr S Hamill Mrs S Hill Mrs J Langfleld (Apwlnted 23 February 2023) Ms J Morosco (Appointed 23 February 2023) Mr R Russell-Hogg Dr A Wainwright Company Secretary Mrs E Moralez-Perez Chlef Executive Executive Board Mr DS Marks Mrs J Wesdake-Tritton Dr S KliThJer Mrs P Pickersgill Ns R Ahmad Nrs T Hancwk Nrs D Gould Audttors Haysmacintyre LLP 10 Queen Streel Plate London, EC4R IAG Bankers Barclays Bank plc Corporate BankinÈ Sulte 11 Bank Court Hemel Hempstead Hertfordshire HPI 18X Nat West Bank PLC 72-74 High Street Watford Herts WD17 2G2 Sollcltors 5herrards Solicitors 4 Beaconsfield Road St Albans ALI 3RD RENNIE GROVE PEACE HOSPICE CARE CHAIR'S REPORT FOR THE YEAR ENDED 31 MARCH 2023 CHAIR'S REPORT - OUR YEAR IN REVIEW This year has been another incredibly busy year, which for us, started as two charities working closely togetherand closed with us as one, combined, new organisation following approval by the Charty Commission on 25 January. This date marked the end of the merging phase of our programmeandthe remainder ofQuarter4 sawthe comMenC￿nent0four implementation phase, which, as ever, has an ambitious targetto be completed by the end of our next financial year. Our new organisation comprfses our new charity, Rennie Grove Peace Hospi￿ Care (Rennie Grove Peace) and we retain both previous charities and their subsidlaries In order that we continue to receive income that has been donated or left to them. Our focus for the year has been our integration of the merger whilst ensuring continued delivery of patient services across the wider geographical area, notwithstanding the significant national challenges of the recruitment particularly of clinical and care staff, the lingering financial consequences of the coronavirus pandemicand the energy crisis. That we have finished the year in a strong financial position is a huge testament to the hard work and dedication of our Executive Board team. Our clinical activity remained steady during the year, and we were able to support 850/0 of patfents to die in their preferred place of death, of which 820/0 were at home where this was their wish. Our combined size means that we wi15 shortly introduce a single point of referral for all our seNices and the overnight service will be available for all within our catchment who need us. BeirrfJ one organisatton has allowed the rapid roll-out of a single integrated, cloud based clinical information system (Systmone) that wll greatly facilitste how our teams are able to support ourusers their families. Further details of our clinical services are described later in this report. During the year the merger was overseen by a working group of equal numbers of trustees from Rennie Grove Hospice Care (RG) and Peace Hospice Care (PH), jointly chaired by Professorstephen Spiro OBE and me. Members oftheworking group became Directors of the Shadow Board and then the Board of our new company at incorporation and, following Charity Commission approval, all Directors became Trustees of Rennie Grove Peace and the two legacy charitEs (RG and PH), with Rennie Grove Peace becoming the SO￿ memberof both subsidiary charities. Of the current Board of 14 trustees, srx originated from PH, 5 from RG and there have been 3 new appointments. In this document subsequent references to the Board include the work undertaken by the ea rlier workiThJ gn)up and the Shadow Board. Board has reviewed our powers, purposes, and beneficiaries. It has commissioned and subsequently agreed our new governing documents that contain these objects and the rules by which it governs the organisation. It agreed our committee structure and scheme of dekgation to the Executive Board. It has ag￿ed a set of environmental, social, governance and digitalisation principles that r( wishes to see throughout the organisation as it develops in the coming years. Through its Governance Committee itsupported the Executive in a thorough, detailed salary review and assimiLition PrO￿S5t0 combine staff into the new organisation. It oversaw and reviewed the principal rifjks of the merger, concurrently with the risks in the charities, and has now approved a single risk register for the new o￿anISation. Memb￿5 of the Board also supported focU￿ed merger working groups for human resources, finances, clinical, informatKJn technology and dIg￿a]ISatIon and communications. 31 Page RENNIE GROVE PEACE HOSPICE CARE CHAIR'S REPORT FOR THE YEAR ENDED 31 MARCH 2023 Rennie Grove Peace now provides seNices to a population of just over I million who live Sn the arc from Marlow to Potters Bar. Prior to merging, the two subsidiary charities provided servi￿5 annually to about 5000 people and data suggests that there were a further 2500 who would be eligible. Together, as Rennie Grove Peace, we aspire to meet the needs of all 7500. We cannot achieve this without the loyalty of our corporate and individual supporters and the dedication and hard work of our 1600 volunteers, to whom we are so grateful. We have commenced work on a new strurture and programme to inform all our loyal supporters, staff and volunteers about our activities. We have refreshed and combined our ne￿Ork of patrons, vice-patrons, vice-presidents, and ambassadors who kindly glve so much to support us and help inform about our work. It gives me particular pleasure to report that the previou5 Presidents of RG Moira Rennie and Dr Mary Groves have agreed to continue as Presidents of the new organisation and in addition that, Stephen Spiro has kindly agreed to become our third President, shortly after the end of this reporting year. Durlng the year we sadly lost of our historically most Influential friends, without whom we would not be in the sound position that we find ourselves today, Gill Hollander was a founder, longstanding supporter and past trustee at Peace Hospice. Sue Varvel had a long career with Rennie Grove, latterly as Director of Nursing, and was responsible for so much of the clinical services that exist today. So many thanks are due to them both for their energy, kindness, and commitment to our servi￿. Our executive teams, led by Stewart Marks and Jackie Tritton, as Chlef Executives {CE) of the respective charities prior to merging, and now Stewart as CE and Jackie as Chief Clinical Officer, have sUC￿eded in the herculean task of running both organisations and so successfully concurrently bringing us together as one. The Board recognises, thanks, and applauds all the executive directors and all our staff teams involved for this outstanding achievement. I would also like to thank all our former and current Trustees who gave so much of their time and expert15e to guide us through our annual cycle of work alongside the due diligence, oversight and governance development that is required to bring the formation of Rennie Grove Pea￿ to fruition. Thank you. We started as two and finished as one that will take forward the best of both. In the coming year we aim to conclude the integration of our systems and processes and develop our strategy to achieve to serve with a wider range of services, reach all sections of our community with new and enhanced services and to use our strengthened combined voice to secure the resources needed to ens ree ry local person receives the care they need, when they need it. air 41 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES. REPORT The Board of Tnjstees presents its Annual Report and Financial Statements for the year ended 31 March 2023 which comply with the requirements of the Companies Act2006, The Charities statement of Recommended Practice (SORP) and the Charities Act 2011. The Trustees. Report incorporates the requirements of the Strategic Report as required by the Con7paniesAct 2006 (strategic Report and Directors, Report) Regulations 2013. INCORPORATION, OBJECTIVES & ACTIVITIES In June 2022 after a successful period of collaboration, the Trustees of Rennie Grove Hospi￿ Care (RG) and pea￿ Hospice Care (PH) announced their intention to merge the Lwo organisations into one new charity, called Rennie Grove Pea￿ Hospi￿ Care (Rennie Grove Peace) or-the Charity" The new Charity was incorporatsd with Companies House on 14 September 2022 and registered by the tharity Commisslon on 25 January 2023. On 25 January 2023, Rennie Grove Peace acquired ownership of RG and PH by way of transfer of ownership from the respective members of RG and PH to Rennie Grove Pea￿ for nil consideration. Rennie Grove Peace is a member owned charitable companyi limited by guarantee, and its sole members are its Trustees. The Rennie Grove Peace Group (Rennie Grove Pea￿ and its subsidiaries, "the Group,? provides palliative, end-of-life advice, support, education and a wide range of services to those people who are registered with a West Hertfordshire or Buckinghamshire General Practice (GP). Rennie Grove Pea￿ is a specialist palliative care provider whose services are delivered by a multi-disciplinary team of nurses, doctors, allied health professionals, therapists, support stsff and volunteers who will ensure the right service is delivered by the right person at the right time, Professional and self- referrals are re￿iVed for those patients and those who care for them, including from the Health & Social Care workforce. The driving force behind the merger is the goal to Increase both the reach and scope of services provided by the two legacy charities. This includes high-quality care for those facing life-limiting Illness, as well as bereavement counselling setv1￿$ for anyone affected by loss. Rennie Grove Peace has three clear alms.. Serve- provide a wider range of seNices to support people in West Hertft)rdshire and Buckinghamshire to live as well as possible as they near the end of their lives Reach - develop new and enhanced services to reach all sections of the local community and meet their changing needs Strengthen - use our strengthened combined voice to secure the reSoUr￿S needed to ensure every local person re￿iVeS the care they need, when they need it Public Benefit Rennie Grove Peace is a Public Benefit Entity. The Trustees confirm that they have complied with their duty under section 17 of the Charities Art 2011. They have considered the public benefit guidance published by the Charity Commission and believe that they have followed it, This report provides detsils of the areas of charitable activity undertaken by Rennie Grove Pea￿. The focus of our work Is to ensure that patients living in West Hertfordshire and the mid and south areas of Buckinghamshire with a palliative diagnosis have the choice about how and where they wish to be cared for towards the end of their lives. 51 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Rennie Grove Peace provides services in line with the aim of the National End of Life Care Strategy (2008) to provide services people need to erlable them to be cared for at home and to die there if that is their choice. It also accords with the Department of Health Publication, 'Our commitment to you for end-of-/ife care.. the Govemment Response to the Review of choi￿ in End of Life Care (2016),. In addition, Rennie Grove pea￿ is committed to Ambitions for Pa//iailve and End of Life Care.. A national fran7ework for local adion 2021-2026. The National Palliative and End of ￿fe Care Partnership created this framework to "improve end of life care through partnership and collaboratlve action between organisations at a local level throughout England" GOVERNANCE Rennie Grove Peace is a company limited by guarantee under the Companies Aci 2006, number 14355610, and a registered charity, number 1201713. The charitable companyls governed by its Memorandum and Artides of Association. The members of Rennle Grove Peace are liable for up to £1 each on the winding up of the Company whilst they are members of the Company or within one year of someone ￿aSIng to be a member. There were 14 members at 31 March 2023. Charity Governance Code The Charity Governance Code (the Code) is a set of principles and recommended good practi against which Charities may Compa￿ themselves and identify areas of Strength and for potential improvement. The Code includes seven principles which the Board of Trustees (the Board) has considered in its aim to ensure continued strong governance at Rennie Grove Peace. Oryanisational Purpose The Board maintains the vision and mission of Rennie Grove Peace. It approves the strategy, operational plans and budget. The Trustees operate as a team and receive reports from management to ensure the proper functioning of the Charity. Key governance highlights in the year included establishing an effective committee structure to take the new charity forward, including definlng relevant terms of reference. The Board was able to base the new organisation's structure on the best features of each of the legacy charities. Leadership The Board maintains responsibility for ensuring the strategy of Rennie Grove Peace is established and followed. It has a wide range of clinical and non-clinical abilities and experience from a variety of backgrounds. By meeting regularly with management and clinical staff, the Board ensures that leadership and management are integrated for the good of Rennie Grove Peace. Integnty The culture of the Board supports independent and challenging thought accompanied by a supportive ethos. Procedures are in place to prevent conflicts of interest and to ensure the Board is independent in its decision making. 61 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Decision Makingi Riskand Contml The Board has developed an effective structure of committees and working groups. This allows Board members and management to effectively implement the strategic priorities of Rennie Grove Peace whilst allowing the Board time to focus on strategic developments. Operational matters are delegated to the Executive Board who report on key strategic developments to the Board. Importance is placed on effertive risk management and considerable progress has been made in the year in establishing risk management processes. Board Effertiveness The Chairman will carry out governan￿ reviews supported by the Governance Committee to ensure the process for the recruitment, appointment and retirement of the Board members is effective. An induction process for new trustees is in place. Mandatory E-learning is in line with staff and the Chair agrees other training directly with individual Trustees. Equality, Diversity & Inclusion The Board recognise5 that a variety of perspectives, backgrounds and skills is essential for good governan￿. These matters are considered as part of the process for nominating new Trustees. Openness andAccountability The Board places great importance in ensuring that Rennie Grove Peace's services, attivities and impart are reported to all stakeholders in a transparent manner. Key information is made available to staff and volunteers by the Chairman and Chief Executive. We actively seek feedback on all clinical attivities. Group Structure Rennie Grove Peace has six subsidiary companies.. Rennie Grove Hospice Care (RG) The lain Rennie Hospi￿ at Home Iain Rennie Hosp1￿ Servi￿5 Ltmited St Atbans and Dacorum Day Hospice Peace Hosplce Care (PH) Peace Hospice Shops Limited The two principal subsidiaries are RG and PH. During the year both these subsidiaries provided the Group's palliative and end of life health care seNices: RG principally in Bucks and North West Herts and PH principally in South West Herts. The Iain Rennie Hospice at Home holds the asset of our Gillian King House building. The financial results of all subsidiaries are consolidated into the flnancial statements of Rennie Grove Peace. RG has a 330h shareholding in The Hospice Lottery Partnership Limited, a company which operates lottery to raise funds for RG and the other partners. Rennie Grove Peace Trustees are volunteers from the local community who bring a range of expert skills to set the charity's overall vision and strategic direction. They ensure compliance with relevant legislation and that regulatory standards are meti quality is monitored, and services are effective, as well as overseeing efficient financial stewardship and the financial planning of the Charity. The 71 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 Board of Trustees has agreed delegation of its power5 through the Chief Executive and five Committees of the Board which are described below: Governance Committee The purpose of the Governance Committee is to oversee the governan￿ arrangements of the Charity and make recommendations to the Board. In parttcular, the Committee: Reviews the size and composition of the Board and its committee5 and makes recommendations on the appointment of individuals to the Board. Supports the Chair in the annual Board Effectiveness Review. Recommends to the Board the appointment of the Chief Executive of the Charity. Oversees the remuneration paid to the Chief Executive and the Executive Board members and the overall remuneration framework for the Charity's employees. An external company was commissioned to carry out a benchmarking exercise. Clinical Governance Committee The purpose of the Committee is to advise the Board in relation to the Charity's development of the Clinical Strategy and the delivery of the underpinning annual patient service5 work plan and agreed Key Performance Indicators {KPIs). In particular, the Committee: Horizon scans to identify opportunities to maximise patient seNices growth and future service developments which are responsive in reaching more people and reflect our locality needs. Receives assurance that there are effective clinical quality assurance and dinical governance control systems established and maintained across the organisation, demonstrable outcomes and measurable impart. Provides assurance to the Board that the clinical services are continuously striving to improve care, while remaining compliant with all legislative and regulatory requirements and with consideration of the organisation wide sustainability and digital transfomiation strategies. Identifies and defines the accepted risk levels arising from the Charity's clinlcal operations and any increase in activity and innovation risks to the Board. Development Operations & Performance Committee The purpose of the Committee is to provide assuran￿ to the Board on the development, operations and performance of the Charity's strategic ambitions and annual operational plan, highlighting new operational risks which may arise out of the development of the plan for the directorates that report to this committee, and to monitor: Financial and operdtional Performan￿ and risk The overall integrity of the Charity's internal financial and operational reporting The Charity's operational contro15 Recommendations for developments involving tangible fixed assets eg buildings Risk and Audit Committee The purpose of the Committee is to provide assuran￿ to the Board that the Charity's responsibilitie5 regarding financial legislation and regulations are met. It reviews overall risk management assessment, controls and mitigations pro￿sseS and contlnuous quality improvement. This includes: Reviewing, on behalf of the Board, the integrity of external financial reporting Overseeing the relationship with the external auditor Monitoring quality and assuran￿ improvement systems and compliance with external regulation5 Reviewing risk management systems and key risks I Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 Investment Committee The purpose of the Committee is to monitor the financial resources and liabilities of the Charity. This includes monitoring internal financial controls relating to cash, marketable investments, financial liabilities, and other liquid resources of Rennie Grove Pea￿, considering the Board's attitude to financial risk and the financial sustainability of the Charity. It also includes monitoring the performance of banking counterparties and investments advisors. The Board of Trustees agrees the terms of reference for the five committees which have clear, delegated authorities. The Board monitors performance of the committees through reports r￿1Ved at Board Meetings. Certain matters are reserved for the Board and members of the Executive Board are Invited to attend Board and Board Committee meetings as appropriate. Executive Board The Executive Board (EB) is led by the Chief Executive who is appointed by, and accountsble to, the Trustee5. The EB has responsibility for the day-to-day management of the Charity, ensuring it functions within the law in accordan￿ with Char(ty Commission regulations, Care QLtality Commission standards, Scheme of Delegation Policy and other relevant regulations. The EB consists of the Chief Executive (CE), Chief ainical offi￿r, Medical tlrector, Director of Development Operations & Perfomiance, Director of People & Culture, Director of Marketingi Director of Fundraising, arKI Director of Retail & Trading. Section 172 Companies Act 2006 The Trustees are the directors of Rennie Grove pea￿ Hospi￿ Care and have a duty to promote the success of the Charity and, in doing so, are required by section 172{1) of the Companies Act 2006 to have regard to various specific factors, including: Long Term Consequences of decisions The Trustee Board has developed an effective structure of committees and working groups. This allows Executive Board (EB} to effectively implement the strategic priorities of Rennie Grove Peace whi15t allowing the Board time to focu5 on strategic developments. Importance is placed on effective risk management and considerable progress ha5 been made in the year in establishing risk management processes. Interests of Employees Trustees and the EB have been actively involved in decisions effecting employees throughout the merger integration process. These decisions have been proposed by the Governance Committee. Terms & Conditions of employment for Rennie Grove Peace have been agreed and staff consulted under TUPE law. A pay benchmarf mo zv RENNIE GROVE PEACE HOSPICE CARE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 22. RELATED PARTY TRANSAcfIoNS The charltable company has six subsidiarles, detalled in note 21 above. During the year laln Rennie Hospi￿ ServI￿s made donations to RG of £104,110 (2022: £87,702). 23. FINANCIAL COMMITMENTS As at 31 March 2023 the Group was commlited to making the following payments under nOn-Can￿lIable operating lea5es'. Land and buildings Group 2023 2022 Explry date: Within one year Between one and kn years Between and five years In over five years 606,532 546,950 1,777,132 1,416,223 670,332 537,744 1,736,343 792,110 4,346,837 3,736,529 24 NOTE TO THE CASHFLOW STATEMENT 2023 2022 Reconciliation of changes in resources to net cash inflow/(oufflow) from operating activities Net income for reporting period Depreciation of tangible fixed assets Amortisation of intangible fixed assets (Gains)ILosses on investments (Gains)/L055es on investment property Irsterest re￿Ived Dividends received Realised (Gain5)/L055 (Increase)/Decrease in stock Decreasel(Increase) in debtors Increase/(tkcrease) in creditors 1,120,970 362,347 4,497,291 388,093 loo,000 (103,550) 360,196 loo,000 (70,987) {9,317) (1,103) (8,361) 1,172,051 32,561 (920) (14,520) (1,255) {25,285) (2,884,053) 45,011 Net cash generated by operating activities 3,058,357 2,000,812 25. COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACtIVITIES A Statement of Financial Activitie5 for the year ended 31 March 2022 is p￿sented In Note 2C above. 551 Page