RENNXE GROVE PEACE HOSPICE CARE TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Registered Company Number: 14355610 Registered Charity Number: 1201713 CONTENTS Administrative Details Chair's Report Trustees, Report Independent Auditor's Reporfc 30 Consolidated Statement of Financial Activitle5 33 Consolidated and Charity Balance Sheets 34 Consolidated Statement of Cash Flows 35 Notes to the Financial Ststements 36 RENNIE GROVE PEACE HOSPICE CARE ADMINISTRATIVE DETAILS Charity Name Rennle Grove Peace Hospice Care Charity Number 1201713 Company Number Registered Office 14355610 pea￿ Hospice pea￿ Drive Watford Hertfordshire, WD17 3PH Trustees Dr J Shindler (Chairman) Mr C Jnman OBE (VI￿ Chairman) Mr J Wroe (Treasurer) Mrs E Moralez-Perez Mrs E Colerldge Smith Mr G Davls (Resigned 7 December 2023) Mr A Graham MBE Mr M Ferguson Mr S Hamill Mrs S Hlll Mrs J Langfleld Ms J Morosco Mr R Russell-Hogg Dr A Walnwrlght Company Secretsry Mrs E Moralez-Perez Chief Executive Executive Board Mr DS Marks Mrs J Wesllake-Tritton Dr S Klinger Mrs P Pickersgill (Resigned 30 April 20241 Ms R Ahmad Mr5 T Hancock Mrs D Gould Mrs E Thompson Auditors haysrnacintyre LLP 10 Queen Street Place London, EC4R IAG Bankers Barclays Bank plc cor￿rate Banking Suite 11 Bank Court Hemel Hempstead Hertfordshire HPI IBX Solicltors Sherrards Soliators 4 Beaconsfield Road st Albans ALI 3RD RENNIE GROVE PEACE HOSPICE CARE CHAIR'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 CHAIR'S REPORT- OUR YEAR IN REVIEW This has been our first full year as a single organisation, and l am pleased to report the benefrts we have achieved. We have made excellent progress in the development of our systems and had a successful Governance review. We ended the year on budget but remain very Con￿rned about the future funding picture for the Hospice sector nationally. Completing the integration of the two legacy organisations has been the theme ft>r the past year. The largest task has been the transfer of employees into the new organisation, which finished in July 2023. Use of our single clinical system is now fully embedded, and we look forward to better, faster dats reporting on activity and quality that this system brings. Inevitably the full integration and necessary Ljpgrading of our digital, financial, risk and management systems is a detailed, time consuming and intricate process, and whilst, not complete, the Trustees are satisfied with the progress made and ensuing improvements in efficiency and reporting capabilities. The anticipated benefits of being a single, large organisation are gradually emerglng. During the year we saw improvements in our ability to recruit clinical staff with 59 clinical starters during the 2023-24 year. We have started our first in-house leadership development programme with 24 participants to develop and hopefully retain our own senior leadership in the future. Perhaps the most important facet of the learning in this academy is the building of the culture of our new organisation: at first thought one might consider that two hospi￿5 coming together would have slmilar cultures: which was indeed the case, but each had different histories and perspectives. We strongly believe that investing early in these foundations of Rennie Grove Peace will be to our benefit in future years. We are also investing a small amount of resource in a Heritage project that will, in time, tell the stories behind how Rennie Grove pea￿ blossomed into today's hospice care Service. During the year we completed the reorganisation of our community care and nursing into three area teams and a single co-ordination centre. The co-ordination centre *rves as the single point of contact for èll our nursing, therapy and support servi￿$ and we now offer a 24-hour, 7-day seNice in all three areas, although our SW Herts service is limited due to vacancies. Our new Living Well service is available to all who need it across our area, and we have opened two new shops in Rickmansworth. Community Engagement have completed 350 meetings this year across the community {240 last year) and our Compassionate Communities initiatives have supported over 700 people in the community. Our collaborative work continues with local partners, and particularly this year, I should like to highlight two aspects. Firstlyi the successful outcome of discussions with South Bucks Hospice to co-ordinate a seamless service in the area that avoids duplication, and secondly a review of Children's Servi￿ with our partner providers, aiming to create better integration. We are beginning to understand our environmental impact and undertook a review of our estate and carbon performance during the year Bnd the first Rennie Grove Pea￿ report is given below. 31 Page RENNIE GROVE PEACE HOSPICE CARE CHAIR'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Board undertix)k its first Governance review at the end of this year using a structured, validated self - a55e55ment questionnaire that was completed by all Trustees and Executive Board (EB) members. The results indicated a high overall confidence in our Governan￿, wilh the strongest scores being in the domalns of clinical governance, integrity and safeguarding. Our lowest score was for the equality, diversity and inclusion domain, and further work in this area had already been planned for the forthcoming year. The Board also reviewed how the mmmittee structure had performed at the end of its first year and Conclud￿ that no changes were required. At the end of the year, we were saddened that our Director of Development, performan￿ and Operations, Trisha Pickersgill, annoUn￿d that she was moving on to further her career after 18 years with us. Equally we were delighted for her achievement in attaining her new position and wish her very well with enomous gratitude for her contributions and support. The national funding picture for Hospi￿$ has given us cause for COn￿rn. Collectively, Hospi￿ UK stated that hospices ended the year with a £77million deficit (5010 of expenditure) which is likely to be exa￿rbated during the next year as the full costs of Wage settlements crystallise. We are pleased that Rennie Grove Peace closed the year with a £68k surplus position and are very mindful of the financial challenges in the forthcoming years. Finally, our thanks as ever, are due to the skill, dedication, and hard work of our executive team, all our non-clinical and clinical staff and volunteers, and especially to you our SLJPPOrters and partners. nk Dr Ch ind er ir 41 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES. REPORT The Board of Trustees presents its Annual Report and Financial Statements for the year ended 31 March 2024 which comply with the requirements of the Companies Act 2006, The Charities statement of Recommended Practice (SORP) and the ChantÉsAct2011. The Trustees, Report incorporates the requirements of the Strategic Report as required by the compan￿sACt2006 (Strategic Report and Directors, Report) Regulations 2013. INCORPORATION, OBJECTIVES & AcfIvITIES Rennie Grove Peace Hospice Care was lncorr0rat￿ with CAinpanies House on 14 September 2022 and regISts￿ by the Charity Commisgon 25 January 2023. On 25 January 2023, Rennie Grove Peace acquired ownership of Rennie Grove Hospice Care (RG)and Peace Hospice Care (PH) by way of transfer of ownership from the respective members of RG and PH to Rennie Grove Peace for nil consideration. Rennie Grove Peace is a member owned charitable company, limited by guarantee, and its sole members are its Trustees. The Rennie Grove pea￿ Group (Rennie Grove pea￿ and its subsidlaries, "the Group ? provides palliative, end-of-life advice, support, education and a wide range of services to tho* people who are registered with a West Herttordshire or Buckinghamshire General practi￿ (GP). Rennie Grove Peace is a specialist palliative care provider whose services are delivered by a multi-disciplinary team of nurses, doctors, allied health professionals, therapists, support staff and volunteers who will ensure the right service is delivered by the right person at the right time. Professional and self- referrals are received for those patients and thase who care for them, including from the Health & Social Care workforce. The driving fo￿ behind the merger was the goal to increase both the reach and scope of services provided by the tho legacy charities. This included high-quality care for those facing life-limiting illness, as well as bereavement counselling Servi￿ for anyone affetted by loss, Rennie Grove Pea￿ has three dear aims: Serve - provide a wide range of SeN1￿ to support people in West Hertfordshi￿ and South Buckinghamshire to live as well as possible as they near the end of their lives Reach - develop new and enhanced seNi￿S to reach all sections of the local community and meet their changing needs Strengthen - use our strengthened combined Vol￿ to secure the resour￿$ needed to ensure every local person receives 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 ft)Ilowed it. Thi5 report provides details of the areas of charitable activity undertaken by Rennie Grove Peace. The focus of our work is to ensure that patients living in West Hertford5hire 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 live5. Rennie Grove Peace provides sewices in line with the aim of the National End of Life Care Strategy [2008) to provide service5 people need to enable 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 RENNIE GROVE PEACE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 you forend-of-life care.. the Govemment Response to the Review of Cholce In End-of-Life Care {2016}'. In addition, Rennie Grove Peace is committed to Ambitions for P311iative and Endof Llfe Care.. A national framework for local Bction 2021-2026. The National Palliative and End of L¢fe Care Partnership created this framework to "improve end of life care through partnership and collaborative action between organisations at a l(Kal level throughout England" GOVERNANCE Rennie Grove Peace is a company limited by guarantee under the Companies Att 2006, number 14355610, and a registered charity, number 1201713. The charitable company is governed by its Memorandum and Article5 of Association. The members of Rennie 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 13 members at 31 March 2024. CHARITY GOVERNANCE CODE The Charity Governance Code (the Code) is a set of principles and recommended good practi against which Charities may compare themselves and identify Breas 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. OwanisationalPurpose The Board maintains the vision and mi55ion of Rennie Grove Peace. It approve5 the strategyi operational plan5 and budget. The Trustees operate as a team and receive reports from management to ensure the proper functioning of the Charity. Key governan￿ highlights in the year Included carryin9 Out a self-asse55ment of Board governance and a review of the effectiveness of the Board committee sirurture. Leadership The Board maintains responsibility for ensuring the strategy of Rennie Grove Pea￿ 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. Integrity The culture of the Board supports independent and challenging thought accompanied by a supp)rtive ethos. Procedures are in place to prevent conflicts of interest and to ensure the Board Is independent in its decision making. Declslon Makingi Riskand Control The Board has developed an effective structure of committees. This allows Board and management to effectively implement the strategic prioritie5 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 developmer)ts to the Board. Importance is placed on effertNe risk management and considerable progress has been made in the year in developing risk management processes. 6 1 Page RENNIE GROVE PEACE HOSPXCE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 BoardEffectiveness The Chair carried out governance reviews supported by the Governan￿ Committee to ensure the process for the recruitmen¢ appointment and retirement of the Board members is effective. This includes periodic one-to-ones between the Chair and individual trustees. An induction process for new trustees is in pla￿. Trustees undertake a statutory learning programme, and the Chair agrees other trair7ing directly with individual Trustees. Equality, Dlversity & Inclusion The Board recognises that a variety of perspettives, backgrounds and skills is essential for good govemance. These matters are considered as part of the process for nominating new Trust￿5. Openness andAccountalJility The Board places great importance in ensuring that Rennie Grove Pea￿,$ services, activities and impact are reported to all stakeholders in a transparent manner. Key information is made available to staff ar)d volunteers by the Chair and Chief Executive. We actively 5￿k feedback on all clinical activities. Group Structure Rennie Grove Pea￿ has six subsidiary companies: Rennie Grove Hospice Care (RG) The lain Rennie Hospice at Home lain Rennie Hospice Services Limited st Alban5 and Dacorum Day Hospice pea￿ Hospice Care (PH) Peace Hospi￿ Shops Limited 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 met, quality is monitored, and servi￿5 are effective, as well as overseeing efficient finanual stewardship and the financial planning of the Charity. The Board of Trustees has agreed delegation of its powers 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 governance arrangements of the Charity and make recommendations to the Board. In particular, the Committee.. Reviews the size and composition of the Board and its committees 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. 71 Page RENNXE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Clinical Governan￿ 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 servi￿5 work plan and agreed Key Performance Indicators {KPIs). In particular, the Committee.. Horizon scans to identify opportunities to maximise patient sewices growth and future Servi￿ developments which are re5ponslve In reaching more people and reflett our locality needs. Re￿iVeS assurance that there are effective clinical quality aSSLErance and clinical govemance control systems established and maintained across the organisation, demonstrable outcomes and measurable impact. Provides assurance to the Board that the clinical services are continuously striving to improve care, while remaining compliant with all legislative and regulatory requirements ar¢d with consideration of the organisation wide sustainability and digital transformation strategies. Identifies and defines the accepted risk levels arising from the Charity's clinical operations and any increase in activity and innovation ri5k5 to the Board. Development Operntions & Performance Committee The purpose of the Committee is to provide assurance to the Board on the development, operations and performance or 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 operational performance and risk The overall integrity of the Charity's internal financial and operational repo￿ng The Charity's operational controls Recommendations for developments involving tangible fixed assets eg buildings Risk and Audit Committee The purpose of the Committee is to provide assurance to the Board that the Charity's responsibilities regarding financial legislation and regulations are met. It reviews overall risk management assessments, controls and mitigations processes 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 wf(h external regulations Reviewing risk management systems and key risks Investment Committee The purpose of the Committee is to monitor the financial resources and liabllities of the Charity. This includes monitoring internal financial controls relating to cash, marketable investments, financial liabilities, and other liquid resoUr￿S of Rennie Grove Pea￿, considering the Board's attitude to financial risk and the financial sustainability of the Charity. It also includes monitoring the perfomiance of banking counterparties and investments advisors. The Board of Trustees agrees the tenns of referen￿ for the five committees which have clear, delegated authorities, The Board monitors performan￿ of the committees through reports received at Board Meetings. Certain matter5 are reserved for the Board and members of the Executive Board are Invlted to attend Board and Board Committee meetings as appropriate. I Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Executive Board The Ex￿ul1Ve Board (EB) is led by the Chief Executive who is app)inted by, and accountable to, the Trustees. The EB has responsibility for the day-to-day management of the Charity, ensuring it funrtions within the13w in accordance with Charity Commission regulations, Care Quality Cc*nmi55ion standards, and other relevant regulation5. The EB co￿1$￿ of the Chief Executive (CE), Chief ainical Oftl￿r, M&liGII Director, Direttor of Developmen¢ o￿ationS & Performance, Direttor of People & Culture, Oirertor of Marketing, Director of Fundraislng, a￿1 Director of Retail &Trading. Section 172 Companies Act 2006 The Trustees are the directors of Rennie Grove Peace Hospice Care and have a duty to promote the Suc￿$ 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. This allows Executive Board (EB) to effertively Implement the strategic priorities of Rennie Grove Peace whilst allowing the Board time to focu5 on strategic developments. IrnpOrtan￿ is placed on effertive risk management and considerable progress has been made in the year in developing risk management processes. Charity Relationships Patlents & Families We are keen to learn from our patient and families, experiences and act¢vely s￿k feedback through SU￿eyS across the services and have invested in an automated data collertion tool. We collect compliments and ensure that all complaints and COn￿rnS are actioned prompuy, and learnings implemented. Through our Governance Team we ensure that the Charity maintains a high standard of busines5 conduct by having a range of policies and pro￿55e5 for all staff to follow. Every Board meeting begins with an anonymised patient story and the purpose of this is to remind Trustees the reason why the organisation exists and the impact the charity has. Engaglng Stakeholde Through regular engagement with key stakeholders, we maintain an understandlng of their needs which helps inform our organisational objectivesi poli￿$ and strategy. Consideration is given to the potential impact for relevant stskeholders when decisions are made. Oursupporters Rennie Grove Peace actively engages with supporters in a variety of proven and innovative strategies to ensure that their support continue5. We encourage fundraising ambassadors that champion the Charity and its purpose. Through our online and social media presen￿ we are creating interactive content and sharing inspirational stories. We provide updates via newsletter and have recently involved a group of supporters to obtain feedback through our integration pro￿55. 9 1 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Our Volunteers Rennie Grove Peace volunteers work across the Charity in a variety of roles and with varying responsibilities. In 2024 we launched our Volunteers Engagement Groupi as all our volunteers are exceptionally important to us, and we are keen to get their feedback, opinions, and views. In these quarterly meetings updates are presented by each department, insights shared on how best to circulate updates to the wider vOlunt￿r team and useful discussions held around a variety of upcoming activities. Impact in the Community and Environment Rennie Grove pea￿ Trustees and staff are committed to acting in accordance with our environmental plans. We aim to identify and seek to minimise negative environmental impact. Acting Fairly Rennie Grove Peace is committed to ensuring all staff and volunteers are treated falrly, has an Equality and Diversity policy and takes an active approach to staff wellbeing. CLINICAL ACTIVITIES Rennie Grove Peace clinical SeN1￿ offer support to a population of just over one million. In the area of 601 SqLJare miles in which we work, there are 81 General Practices, and we provide services to anyone registered within those practices. From a health and social care perspective, we are commissioned by two Integrated Care Boards {ICBs): Hert5 & West Essex (HWEI and Buckinghamshire, Oxfordshire & Berkshire West (BOB). Rennie Grove Peace clinical services operate from four bases: Peace Hospice, pea￿ Drive, Watford. WD17 3PH. Services provided from Peace Hospi￿ are: Inpatient SeNi C(K)rdination Centre South West Herts Hospi￿ at Home SeNi Rapid Personalised Care Servi Outpatients & Supportive Care Servi Bereavement & Wellbeing Services Rehabilitation SeNices across all areas Rennie House, Tring Industrial Estate, Icknield Way, Tring, HP23 4JX. Services provided from Rennie House are,. North West Herts Hospi￿ at Home Servi￿$ Buckinghamshire Hospi￿ at Home Services Rapid Personalised Care Service Children & Young Person's Services Supportive Care & Wellbeing seNices Gillian King House, Hodgemoor View, Chalfont St Giles, HP8 4LS. seN1￿ prowded from Gillian King House are: Buckinghamshire Hospi￿ at Home SeNices Grove House, Waverley Road, St Albans, AL3 5QX. servi￿ provided from Grove House are: Clinical Leadership Base North West Herts Hospice at Home Servi￿5 Outpatients & Supportive Care Servi Bereavement & Wellbeing services Children & Young Person's se￿1￿5 Rehabilitation SeN1￿5 across all areas 101 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Catchment area ST hL#Art5 THREE WYCOM#E W￿￿mb Ch4 Key ¢* $OQih wvcxIt4GHAMSHIH PthKeH05plce RennlpHou5e GllllanKlngHouse ioveHou5 Balnbrld8eHouse Inpatientservlces Inpatient services are provided from the Inpatient Unit (IPU) which is a 12-bedded, short stay ward providing high quality, specialist palliative care which includes symptom control, rehabilitation, and end of life care for individuals whose symptoms cannot be controlled at home. The team delivers holistic care for patients and their families including physical, emotional, spiritual, and practical support for those living with a progressive life-limiting illness. Outpatient & Supportive Care Services These services provide a range of holistic nursing, rehabilitation and therapies and Social Worker support serVi￿S from INO day services centres based at Peace H05pice and Grove HOU￿ and include dedicated nurse-led outpatient clinics. The multi-disciplinary services include a very wide range of rehabilitation interventions and support, wellbeing and creative arts interventions, and self- management. To achieve our aim5, to widen ac￿55 and ensure the right team is supporting the right people, we offer three tiers of outpatients and rehabilitation support (universal, targeted and specialised) which change over time to meet the specific needs of e3ch patient. Many of these servi￿5 are planned to outreach into our local communities as part of our Compassionate Community hub programme at community hLtbs, The therapy teams also provide their expertlse and seNices within the IPU and our Community Adult and Children services. 11 I Page RENNIE GROVE PEACE HOSPICE CAFiE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Bereavement & Wellbeing Services A range of bereavement, supportive and wellbeing Serv[￿$ are available for the families and those who care for patients with a progressive life-limiting illness or are bereaved. Our complementary therapy team offer a wide range of treatments to patients and those who care for them. These include acupuncture, reflexology, scar therapyi massage and Reiki as well as offering group relaxation foclssed *ssions. Our Bereavement, Listening & Talking Therapies provision consists of three counselling teams, and all our counselling is provided free of charge. Student bereavement counsellors, British Association for Counselling & Psychotherapy (BACP) registered volunt&r counsellors and Improving Access to Psychological Therapies {IAPT) counsellors. Sessions are provided through virtual technology, individual and group ses5ior>s. By focusing on quality of life both for patients and those who care for them, as well as our bereaved clients, we can help them make every moment together matter. We offer the opportunity to ac￿$$ a range of different interactions to reflect on their experien￿ in a safe and confidential manner. Hospice at Home Services The Rennie Grove Peace Hospice at Home Servi￿ provide5 2417 care for patients who wish to remain at home or in their care home. Care is tailored as needed. There are 3 locality teams.. Buckinghamshire, North West Herts and South West Herts. Our model of care is delivered by a multi-disciplinary team who can provide planned ongoing support and symptom management and unplanned responsive intensive intervention for those patients whose condition becomes unstable or when in the last weeks of life, We support the facilitation of hospital discharge and prevention of unwanted hospital admissions in line with patients, wishes. A plan of care is agreed with the patient, or family as needed, to ensure comfort and care is maximised. Rapid Personalised Care Service Our Rapid Personalised Care servi￿ (RPCS) provides personal care for up to 12 weeks to patients at home receiving end of life care. By providing help with things like meal preparation, washing, dressing and toiletingi this Se￿[ce gives terminally ill people the daily support they need to stay safe and comfortable at home during their final weeks. Patients are referred by healthcare professionals through a single point of access and are supported by a team of speoally trained carers, a care co- ordinator and Service lead. Packages of care are provided within 48 hours of a referral and, in practi￿, frequently start on the same day as the referral is received. The service operate5 from 7am to 11pm, with care being provided up to four tim￿ a day by up to kn carers to ensure the support and comfort of patients and their families at end of life. Children & Young Person's Services Our Children & Young Person's (CYP) Hospice at Home service covers Buckinghamshire (excluding Milton Keynes) and the North West Hertfordshire areas of Dacorum, St Albans and Harpenden. The team of trained children's nurses, support workersi play therapists and volunteers work in collaboration with the other local Children & Young Person's hospices (Keech Hospice and Helen & Douglas House), as well as the NHS community children's services. The aim is to offer a seNice operating 7 days a week, with availability of 24-hour support for patients and their families, if required. We are 5UPPOrted by The Pepper Foundation who raise funds for this servi￿. 121 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 CommunityEngagementServices Through engagement activities we raise awareness of Rennie Grove Pea￿ services, promote equality, diversity & inclusion, and increase our profile and relationships with the communities we serve. Our activities also allow us to reach out to under-represented group5 to help overcome any perceived barriers to re￿Iving hospice care. Our Compassionate Communities project unlocks people's compassion and enables the building of a stronger, connected community for all people touched by death, dying or105s. We achieve thls by supporting and growing a network of people who have been affected by any type of bereavement or 1055, or who may be living with a progressive life-limiting illne55. Support is providing by our trained volunteers either in a person's home or at one of our partner community-based venues. Our Compassionate Neighbours programme is delivered by trained volunteers who provide l-l sustained support via in-person visits and phone calls. Medical Team The Nedical Team works across our three main patient services - Inpatient Servi￿, Hospi￿ at Home Services and Outpatient & Supportive Care Services. They provide specialist medical and pharmacy support to patients as well as advi￿, support and educatiDn to staff. Coordination Centre 01923 60 60 30 Rennie Grove Peace has introduced Coordination Centre that provides a single point of access and coordination of care, managed by a team of dedicated Clinical Nurse Specialists and supporting administration team. It operates 24 hours a day, 7 days a week for all patient enquirie5, referrals and calls. The centre ensures we deliver the right service to meet individual needs, Learning & Development Education arKI training is provKied by the Learning & Development Team who work across the whole organisation under the direction of the Director of People & Culture. They lead on the provision of mandatory and other training to staff and to volunteers. The team carries out a Training N￿5 Analysis for all staff and volunteers so that they can develop professionally. Training includes competency and additional specialist training to ensure we have a confident and competent workfor￿. Other work includes external education for care home staff and educating others on palliative care. OPERATIONAL REVIEW AND ACHIEVEMENTS FOR THE YEAR CLINICAL SERVICES As well as the detail of our seNices described above, Rennie Grove Peace has a particular focus on recruitment as this remains a significanl challenge, in line with most healthcare organisations nationally. New roles including paramedics and a nurse consultant have b*n added to provide a wider mix of skills, in addition to several examples of internal development and promotion which have been designed to strengthen the leadership and delivery of clinical services. All Rennie Grove Peace clinical services (except IATT seNice) are now using the same elettronic patient record system (Systmone) which allows clearer communication internally and sharing of information with other healthcare organisations, Rennie Grove Pea￿ have been a collaborative partner in the development of a system wide, specialist psychology Serv1￿ for can￿r and palliative care patients in West Hertfordshire. 131 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 FUNDRAISING Once again, we have seen exceptional legacy income in the year, whlch, along with strong major donor and trust income, meant, for fundraising income in total, we closed the year significantly ahead of our target. We triave continued to see growth in our VI￿ Presidents and Presidents, Circle schemes, helping u5 to build strong foundations for the future. Key achievements included the Big Glve Challenge, which reached its increased target of £lOO,000 within five days. The London Bridges Walk attracted record numbers of participants, our Question of Sport event had the most successful year Sin￿ its inception in 2014, raising £83,000, and our London Marathon runners raised an amazing £63,000. Fundraislng during the year, has continued to be challenging within donations and appeals, however we have had strong support from major donors and trLJSts. Whilst we have continued to be supported by our local communities, the level of giving has been lower. We are encouraged by the return of participants to our key events and hope to now continue to build on these in the coming year. The focus for the year has been on providing ex￿lIent stewardship to all supporters and understanding how they want to help us. RETAIL & TRADING The Retail and Trading team have expanded from 32 shops to 34, securlng two new shops in the Rickmansworth area, one in the town centre and one in Moneyhill, a thriving community on the outskirts of Rickmansworth. The Rennie Grove Peace shop in Moneyhill is the only charity shop on the parade, and it is our largest shop with exciting opportunities for future growth. We have continued the roll out of the"Rennie Grove Peace Revisited" programme to refurbish shops, ensuring each shop meets its local community needs and reinforcing our environmental mantra, "Recare, Rewear, ReHome" The programme includes ReLoved Boutiques, Community Hub shops and Revalued Outlet shops, each allowing the Charity to maximise sales from each donation received. Retail & Trading shops were running on trNO different electronic point of sale sysiems, and within this financial year we have moved all shops onto a more advanced single system and have introduced tablets into all shops to ensure seamless gift aid sign up and good management of bought in goods. The environment for our shops is challenging. However, our Ecommer￿ portal is proving very effective in maximising income from high value donations. PEOPLE & CULTURE Our colleagues provide the skills, commitment, and passion for reaching and seNing our community in new ways, while continuing to deliver or contribute to the care that our patients and their carers rely on. We wish to be an employer of choice, and the place where people wish to volunteer, in the charity and care sectors. With the support of a culture change consultancyi we have listened to employees, feedback via a new listening tool called EVE (which uses AI powered conversations to ask questions about working at Rennie Grove Peace). From this, together with regular face to fa￿ line management conversations, we know we need to make some Improvements to our colleague experience. The Executive Board and Leadership Team have been working together to make some choices about where to fixus our efforts. 14 1 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES. REPORT FOR THEYEAR ENDED 31 MARCH 2024 Three Improvement Projects are our key priorities, Building & Living our Values, Growing a Caring & Supportive Culture and Retaining & Attratting the Best People. These projects are being led by the Leadership Team in cross-functional teams, with Executive Board members as sponsors. A further priority is buildingi developing and supporting the Executive Board and Leadership Team to be the best leaders. The focus for this development will be the Rennie Grove Peace leader expectations framework developed by the Executive Board and Leadership Team. We have had a high-volume of recruitment and have successfully onboarded 130 new starters, 59 acr055 clinical servi￿$ and 71 in non-clinical teams to enable the organisation to continue to provide specialist servicesi generate income to fund our work and support our services. A project has Started to implement an Applicant Tracking Service (ATS) to offer a smoother and more efficient process for applying for jobs and oniLiarding. In July 2023 all employees became employed by Rennie Grove Peace under TUPE. All employees were combined on a single HR Database, the agreed changes to terms & conditions were implemented, we ran our first joint payroll, a sickness absence monitoring system was launched across the organisation, and we rolled out the benefits platform to all employees which offers a health cash plan, access to retail discounts and employee assistan￿ programme. A comprehensive review of our pension arrangements was carried out by our pension advisors to streamline our pension provision. We have employed an eXperIen￿d reward specialist to move forward with a pay and reward framework for our employees. LEARNING & DEVELOPMENT The Learning and Development Team support our workforce across all areas of the charity, Our new colleagues are onboarded with the support of the team who run a monthly organisational induction and a newly developed clinical induction. The team delivers a Learning & Development programme to clinical and non-clinical employees and volunteers across a range of role-specific and personal developmental subjects. The programme is underpinned by responswe training courses to m￿t emerging clinical and non-clinical needs and includes Specialist Palliative Care Update (SPCU), Palliative Care Development Programme (PCPD), Intermediate and Advanced communication skills, Do Not Attempt Cardio Pulmonary Resuscitation (DNACPR) competency training,1055, grief and bereavement as well as team support through focussed Away Days. The annual Management Development Programme (MDP) continues to develop partiapants, knowledge, skills and behaviours in a programme delivered across six modules covering four key areas of focus: Managing ourselves, Managing our people, Managing our team and Managing our sew1￿. A new Learning Management System (LMS) has been implemented to co-ordinate and manage online e-learning and in person mandatory and statutory training for all colleagues, employees, and volunteers. We provtde much needed knowledge and ski115 updates across our geographical area for Care Home and GP colleagues through our Care Home Education programme. 151 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Another succe55ful clinical conference was delivered, the first as Rennie Grove Peace. 75 delegates booked to attend. Feedback shows 100% were satisfied with the programme, structure of the dayi booking and communication. IOOWQ said attending had increased their knowledge and understanding and they were satlsfied with the overall experience. A Learning & Development Steering Group was formed in January 2024 and will meet throughout the year to review the training provision (both clinical and non-clinical) for the organisation to ensure it is fair, equitable and effective. VOLUNTEERING Volunteers continue to support Rennie Grove Peace to deliver our Se￿iCe5 to more people, They are our ambassadors in our community, spreading the word about the vitrdl work that we do and the many ways in which people can support us. We now have a combined volunteering for￿ of around 1,600 volunteers in more than 100 unique roles supporting every area of the charity. From September 2023 all our volunteer records were held on a single volunteer database. We continue to develop our community volunteering programmes and expanding our Compassionate Communities seNices. We now have 56 Compassionate Neighbours supporting community members in their own homes and 53 at our Compassionate Cafes and Compassionate Support Hubs. In the community volunteering we also have eight Engagement Ambassadors, who help with engagement & awareness work. This is a significant expansion with 53 new volunteers having joined the community volunteering team during 2023124. Our 39 Supporting Hands volunteers support our nurses with respite visits and provide practical and emotional support to our patients. We are expanding this Servi￿ into the Watford area and have continued with targeted recruitment campaigns for these volunteering roles and others, to ensure that volunteering at Rennie Grove Peace is in the public domain, and we are seen as a great place to volunt￿r. 27 volunteers have joined our Supportive Care team over the last year, meaning that we can continue to deliver our vital Bereavement, listening and talking therapie5, Complementary therapies and children and young peoples, seNices to more people that need them. We have worked closely with the Retail & Trading team, and now have nearly 900 volunteers across our shops, working hard to raise the money we need to fund our service. Our large group of community fundraising volunteers continue to support us with our flagship and local ftjndraising events. In Patient Sew1￿$, we have volunteers working with patients and families across both Outpatients and Inpatient seNices with 40 volunteers supporting the IPU, and many others helping with wellbeingi exercise and transporting patients to and from their sessions. In the background we have those volunteers who keep everything working and our buildings pleasant places to be - gardeners, receptionists, facilities, finan￿, tr, Marketingi People and Culture and of course our trustees. In January 2024 we launched our Volunteer Engagement Group which will be developed in the coming year. We continue to work across the organisation and externally, to promote the value that volunteerlng brings to the organisation, and the benefits of volunteering to each individual who joins us. 161 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 MARKETING At the start of this financial year, the marketing team was focused on delivery of day-to-day activity alongside the merging together of all our individual marketing channels into one Rennie Grove Peace presence, which we achieved on l July, adopting a best-of-both approach for each platform. Our single cohesive team now operates at close to full strength, having successfully recruited for Head of Marketing, Clinical Content Manager, Digital Marketing Manager and two Digital Marketing Offficers in the last year. We continue to recruit for these key roles in the team. The team works across all our locations, which, together with our'topic owner" structure helps form collaborative and consultative relationships across all other direttorates. External freelancers flexibly support the team with additional capacity and skill when needed, with design, social media, paid advertising, and PR experience, as well as our two new marketing volunteers who support the team with relevant skills. We have developed a clear marketing roadmap, planning and scheduling key priorities With each department, and building a set of supporting KPIS to monitor performance and impact. These reports are now being shared with the other departments to inform strategy and activity. Highlights include,. Full utilisation of a GLKJgle Grant, free pay-per-click search advertising at a value of Iok USD per month, managed by an agency charging a reduced rate of £800 for £3,000 worth of retained fe￿, Additional press office support secured to drive coverage in Buckinghamshire at a rate of £500 for £2,500 worth of retainer per month, giving acces5 to a press cuttings service free of charge worth min.£5k a year. Developed a relationship with the Press Assfxiation wire, which has facilitated much wider access to publications at low effort. From September, three human-interest storles have secured over 600 articles in different media outlets, greatly increasing our awareness reach. Consolidated all data we hold of our Healthcare professionals, fomiing a single source of data for our referrers. This now allows us to send regular monthly email newsletters to key stakeholders in our area of operations, reminding them of our Servi￿ developments and referral paths, and ensuring we are front-of-mind. The Marketing Team's digital support of the Christmas appeal Increased the fundraised total through digital channels three-fold, at no loss to the offline donations nor The Big Give appeal which ran shortly before. Management and overview of schedules, and test- and-learn approach have underpinned this success as one example. Working with the fundraising and events team closelyi and directing the focus onto data with regular check-ins, also saw the London Bridges event raise over £40k against a £25k target, thanks to a mid-campaign shift to stewardship from volume. LINKS WITH COMMISSIONING BODIES The Clinical Leadership Team (CLT) continue to develop links with the commissioning bodie5 across both Herts and West Essex IHWE) and Buckn'nghamshire, Oxfordshire & Berkshire West (BOB) Integrated Care Systems, In addition, they maintain our relationships With the Rennie Grove Pea contract holders in both areas (Central London Community Healthcare (CLCH) Trust in Hertfordshire and BOB Integrated Care Boards in Buckinghamshire). CLT regularly attend the Specialist Palliative Care forum5 in both areas to develop and maintain Renni@ Grove Peace's influence in the external strategic direction of specialist palliauve care seNices. 171 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The CLT continue to explore new opportunities to attract statutory funding to Rennie Grove Pea in order to develop services, PERFORMANCE AGAINST STRATEGIC PLANS 2023-24 was a year when our ft￿u$ remained on merger-based activity creating and embedding Rennie Grove Peace as its own organisation with the colleague base, of staff and volunteers, iEginning to work more closely together across our estate. A particular internal focus has been on the development of culture, by responding to colleagues, views about what it Is like to work in the new Charity. With the support of a culture change consultancy, we have listened to employee5, feedback via a new listening tool called EVE (which uses Al powered conversations to ask questions about working at Rennie Grove Peace). This was delivered electronically in November 2023 and the results told us we needed to focus more on our leadershipi communications and the care and support we offered to colleagues. We started 2024 by identifying three themes to help us address these areas of improvement. Cross directorate project teams, sponsored by EB, have been established with the intention of Building & Living OLJr Values, Growing a Caring & Supportive Culture and Retaining & Attracting the Best People. The project teams consist of our Heads of Departments and Assistant Directors and these colleagues have also created our Leadership Team. The Leadership Team (LT), with the full support of EB and the Board, have worked on what a great leader looks Ilke and developed our Leader Expectations Frameworl against which they will self- asse55 their own development requirements. A Rennie Grove Pea￿ Quality Account was produced to summarise the early impact of the Charity and it can be found on our website, www.rennie rove eace. The past year has seen a tremendous amount of work from every single member of the Rennie Grove Peace team to progre55 our merger integration. A full merger takes a huge amount of combined resource, and we continue to make great strides towards the Suc￿$$fUl integration of Rennie Grove Pea￿, OUR PLANS We know there will be a growing number of people who need our service5 and expect our patient numbers to grow to around 7,500 in the coming years. We will use 2024-25 to identify more clearly those needs and how we might refocus our seNices appropriately. A developing employment and reward structure for colleagues continues to be a priority for 2024-25 including the evolution a new pay structure for the Charity. This will be an important element of our ability to retain our existing workforce and to continue to attract new colleague5 to our team. We will be working on the Strategic Plan to deliver against our merger ambitions over the summer of 2024. This will support the clinical ambition and plans as well as prepare the Charity to identify how we can become more efficient and improve our sy5tern5 and processes to enable us to reach the expected growth in the needs for our services. COLLABORATION In Hertfordshire, Rennie Grove Pea￿ works through a Memorandum of Understanding with the other four hospice providers who deliver servi￿5 to the adult population of the county. Each organisaknon has the ambition for the very best palliative end of life care and has decided to work together to create "one voice" a formal Hospi￿ collaboration. 18 1 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 In Buckinghamshire, Rennie Grove Peace will continue to develop its working relationships with Buckinghamshire Healthcare NHS Trust's Floren￿ Nightingale Hospi￿, and its associated charity, as well as with South Bucks Hospice {Butterfly House). With the former, Rennie Grove Peace delivers the community hospice at home and Rapid Personalised Care Services and with the latter our joint ambition remains to work together to support the development of services provided at Butteffly House. Rennie Grove pea￿ works closely with The Pep￿r Foundation who raise funds for the Children's Hospice at Home Service. We are grateful to The Pepper Foundation for their continuing support and will work collaboratively with them so that they are able to achieve their mission. As part of the 2417 nursing seNice, Rennie Grove Peace works in collaboration with The Hospice of St Francis to prowde care during the nights to anyone receiving their other seryices. RISK MANAGEMENT STATEMENT AND BACKGROUND The Board of Trustees has responsibility for overseeing risk management within Rennie Grove Peace. It has a fundamental role in ensuring that a culture of risk management is embedded throughout the Charity by setting the tone and defining the appetite for risk, The Board ensures that all risks are assessed against the ability to achieve its mission. The Risk and Audit Committee monitors risk management processes, review5 key risks and mitigating actions, and sUPPOrts arKI advises the Board on risk matters, The EB Implements risk management policies. Risks are identified and controls and mitigating actions closely monitored on a regular basis. The following table describes the key risks, identified by the Board of Trustees, to Rennie Grove Peace's ability to meet its strategic objectives, The Trustees consider that the principal risks facing the Group are.. Risk Area Potentlal Impart Mitigations l. Ensure we can provide evidence that standards are met Failure to glve robust asSuran￿S against the Key Llnes of Enquiry that demonstrate the dellvery of appropriate stsndards of care to our patients. May Tesult In bwer Care Quallty Commission (CQC) ratIr￿s,]0$s of reputation, loss of Integrats Care Systems IICSIICentral London Communlty Health {CLCH) funding and an Increase n complaints Reposltory of eVIden￿ belng regularly updèted. Internal Governance Processes In place including audlt s￿ed￿￿5, mandatory tralning for employees, Indudk)n prograrnme for new ernployees, incident reporting process, monthty Sniernal clinlcal governance meetlng5 and quarterly Trust￿ Clinical Governan Comrnittee meetlngs. 3. Awareness raised of CQC inspection across the organisation l. Recruitment and retentlon processes in place. Ina￿lIty to retain, recruL and train staff and volunteers. If Rennie Grove Peace fal￿ to recrult andlor retain Suffic￿nt staff and volLinteers wSth the required S￿'11S and talenL the chari wi11 be unable to deliver Internal KPI'S on turrK>ver and vacanae5 rep(rted SaL4ry benchmarklng18ligned to b￿get}, Exit interviews offered and analysed quartwlyi 191 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 our servi￿5 and strategy {includes clinlcal and non- dinical, includlng shops). Vacancles promoted In locallties and Improved Social media advertlsing of vacancies SUc￿sSion plannlng strategies to be put In pla￿ wlth managers and working with Learning & Development to look at career pathways, trainee ioleslentry routes, apprentice5hlps, career progression. Induction and Training processes Improved onboardlng and recrulung tnanager staylng connected wlth new staff I￿rore and once appoSnted. Revamped dinical induction programme in place, dinical supervision offer belng revlewed, Culture improvement work undenvay so that Rennle Grove Peace is recognlsed as place efflployees vknt to work and where volunteews want to glve their time and expertlse Remodelling of the clinic31 woikforce, ensuring the right team with right skills see the r￿ht patients. . Safe staffing and setvlce user safety staff levels revlewed monthly for each service. Non nurslng staffing introdu￿d, eg paramedlcs and nurse associates. Daily patient acuity tool undertaken for each serw to asse% demand and capaclty working closely wlth other provlikrs to deliver services to avdd duplication. Chlef Cllnlcal attends Herts & West Essex LCB PeO￿e Board. Further staffing exploredi eg nurse consu5tant, cllnital rellowship. l. Drive for greater efficiency In line vrith the experlerKes a prospects of many charilies in the health sector, that the Charity ex[erIen￿S signifKant and repeated financial deficits, due to.. a) an Inabillty to explolt suffiaent fundrai51ng opportunlties, to expand retail contribution, and to Secu￿ adequate commlsslonlng income,. andlor bl inflationary c05t Increases That the flnanclal sustalnabillty o the Charity Is significanuy weakened. Management Is cornmiited to Introdu￿ enhanced ways ol working, including greater utillsatlon of technology and digltal processes to provlde otportunltie5 ft>r cost savlngs In the Charity. Need to Imwse cost-saving measures or redu￿ servke areaS1 Potentially through staff reductlons. This would limlt the Charity's ability to provide a consistent service, thus not rneeting patient, SUPPOrters, employee, or Commissio￿rg qulrements. 2. Drive for Increased income reall9n￿l fundralsing actwiues, supported by eThhan￿￿ management infortnation.. ￿gular and detailed reviews or the performance of indlvidual shops,. regular contact with commissioners to allow the value of the seNice provKled by the Charlty to be fully understoocs. which produce a significant and lengthy dirnlnuuon of funds. Collaborations We work wEth other hoSpI￿S io Identify opportunlues to Sha￿ resources and provide joint servtes. Asset Base The asset I￿Se of the Charity includes fixed assets which could be rnonetlsed to provide substanual brx)sts to funds. 20 1 Page RENNXE GROVE PEACE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Financlal PositÉon of Charlty The Board and senior management monitor, through rinancial reports and targets, the financial posltlon or the Charity. This enables early Identification ol adverse Incotne or expendlture trends. FINANCIAL REVIEW ("2024" refers to the financial year to 31 March 2024) During the implementation of the merger of Rennie Grove Hospice Care and Peace Hospi￿ Care, certain of the operations of the Groupi previously carried out by RG or PH, have been transferred to Rennie Grove Peace. This pr(xess of transferring operations began during 2024, has continued during the year, and will continue after 31 March 2024. Particular developments during the year have been: l. Income from new donations, legacies and charitable events now originate largely with Rennie Grove Peace. 2. RG and PH retail operatKJns were transferred to Rennie Grove Peace effective from the point at which the banking arrangements of Rennie Grove Peace were established. 3. Most contracts of employment with staff, and associated pension and employee tax responsibilities, were assumed by Rennie Grove Peace effective from l July 2023. 4, Debtors and creditors are settled within the originating charity. To fund the newly established charitable activities of Rennie Grove Peace, RG and PH have gifted charitable funds, previously donated to the two merging charities, to Rennie Grove Peace. Tangible fixed assets owned by the Group at the date of the merger and the investment property remain under the legal ownership of RG or PH. Listed investments, previously owned by RG, were gifted to Rennie Grove Peace. Investments owned by PH were encashed and, following reali5ation, that cash was gifted to Rennie Grove Peace In February/March 2024. Restricted Fund5 are onty transferred to Rennie Grove Peace following agreement by donors. At 31 March 2023, RG and PH had designated unrestricted funds to projects expected to be carried out over the short and medium term and which were considered essential to the Group's strategy. Certain designated funds remain in the balan￿ sheets of RG and PH at 31 March 2024. The a550ciated projects may be carried out by Rennie Grove Peace: in these circumstances, a55ets will be transferred to Rennie Grove Peace by the subsidiary charities. Other designated unrestricted funds have been identified and established in the charity balance sheet of Rennie Grove Pea￿. The comments below relate to the consolidated finanual position of the Group. Rennie Grove pea￿ is pleased to announce that the Group recorded a net surplus of £68k for the year to 31 March 2024 (2023: £1.1 million). Total income for the year was £18.3 million which is approximately the same level as 2023,5 total income of £18.2 million. The Group has had another particularly suc￿$$ful year for legacy donations which totalled £3.9 million {2023.' £3.9 million). The size and timing of legacy income is unpredictable, and the Trustees, plans assume that future legacy income will revert to a more'normal" level of around £2 million per annum. 211 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Donation income decreased to £2.9 million (2023: £3 million). The Fundraising environment has continued to be challenging within donations and appeals, however we have had strong support from major donors and trusts, We have continued to be supported by our local community and saw a small decrease in income from our events. We are encouraged by the return of participants to our key events and hope to now continue to build on the number of events and the level of giving in the coming year. Income from Charitable Activities remained constsnt at £5.5 million (2023: £5.5 million). Income from Charitable Activities Includ￿ funding from Herts and Bucks ICBS, to deliver our adult services, of £2.6 million (2023: £2.5 million). It a150 includes funding for our Rapid Personalised Care Servi of £2.3 million (2023: £2.2 million) which provides expanded care to adults extending both the time and SeN4￿ offered. Also included is income from the Pepper FoundationlNHS England of £0.4 million (2023.. £0.4 million) which is restricted funding for children and young person's seNices. Other charitable income of £0.2 million (2023: £0.3 million) primarily conslsts of funding for bereavement and counselling services. Income from our shops and on-line in 2024 of £4.4 million was close to the same level as 2023 at £4.3 million. The small increase was achieved from the 2 new shops which opened in the last quarter of 2024. We a150 saw a shift in income from our shops to our Revalued Outlet Shops as our Customers continue to seek value in their purchasing. Retsil margins continue to be under pressure from wage increases and the impact of inflation resulting in increases to rent, utility costs and other facility costs. We also experienced a high level of one-off costs related to shop refurbishment. Lottery income was at the same level as the prior year at £0.6 million. Consistent with the increase in the 8ank of England base rate, Rennie Grove Peace earned £0.3 million of Interest on our cash balan￿5 (2023: £0.1 million). Total expenditure at £18.6 million was 12010 percent higher than the prior year total expenditure at £16.6 million. Inflation poses challenges for charities, and the specific inflationary pressures in the health sector produce particular challenges for Rennie Grove Peace given the significarst proportion of our cost base which 15 accounted for by staff costs. Our staff costs increased to £11.6 million from £10.4 million in 2023 resulting from an average 5010 increase in salaries, a IOYO increase in the minimum living wage compounded with a realignment of pay grades following a comprehensive benchmarking study. The Group owns an investment property that was re￿IVed hs a legacy donation in 2023. The property is revalued at the end of each year by Aitchison Raffety Propeity Consultants which yielded a loss of £30k in 2024 and a1055 of £IOOk in 2023. Financial markets experienced a significant recovery in the yeari producing a positive return on our medium-term investments which are mainly invested in equities, bonds and associated funds. A gain of £0.4 million recorded in 2024 compared with a loss of £0.4 million in 2023. The £68k surplus (2023.. £1.1 million) for the year meant we were able to broadly maintain the level of our General re*rve, thus giving us confidence that the financial position of the Group is sound. After allocating funds to finance fixed assets, our General reserve is £17.8 million at 31 March 2024 compared with £17.7 million in 2023. We have spent the remaining funds of the £0.2 million reserve which was designated for costs related to the implementation of the merger and have carried forward the reseNes designated for Strategic initiatives and Capital programmes of £0.5 million and £1 million, respectivelyi to spend as the strategic plans of Rennie Grove Peace evolve, 221 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees place importance in maintaining a high degree of liquidity In the balan￿ sheet. Cash balances at 31 March 2024 totalled £10.5 million compared with £9.6 million in 2023. The Group's rinancial assets policies require sufficient cash to be immediately accessible to m￿t our operational needs, and temporary cash Surpluses are held in short term (less than 12 months) deposits to take advantage of attractive interest rates. The strength of Rennie Grove Pea￿,5 balance sheet, underpinned by a sattsfartory General reserve and satisfartory liquidlty, satisfies the Trustees that the financial position of the Group remains sound. In reviewing the internal finanaal controls of the Charity, the Trustees have referred to the Charity Commission's guidance "Internal Financial Controls for Charities" (CC8). FUNDS Rennie Grove Pea￿,5 Funds finance the resour￿5 available to the Trustees to Use in the Group'5 operation5. Funds are classified as Unrestricted or Restricted. Unrestricted Funds Unrestrirted Funds are resource5 available to the Trustees to spend Bt their dlscretion in furtherance of the Group's objertives. General reserve The General reserve is the unrestricted available funds after designating funds to known or expected projects expected to be carried out over the short or medium term. At 31 March 2024, the General reseNe totalled £17.8 million. (2023.. £17.7 million) The General reSe￿e is held to ensure the continued financial sustainability of Rennie Grove Pea and to give the Group the ability to react to unexpected changes, especially reductions in fundraising and retail incom@ and increases in expenditure requirements. The appropriate amount of the General reserve will vary over time. The Trustees seek to balance the need to protect the Group's financial sustainability with the aim of avoiding losing opportunities to use resources in furtheran￿ of the Group's objectives. In view of the complexities and extent of Rennie Grove pea￿'S operations, and the un￿rtain operating environment, the Trustees consider that the General reserve should be at a substantial level relative to Rennie Grove Peace's operations. The Trustees have determined a target for the General reserve. This target is a medium-term aspiration and is expressed in terms of months of budgeted operating expenditure represented by the General reserve. This method of determining the target allows a direct comparison of the General reserve with the resources required to ensure the on-going operations of the Charity. The Trustees recognise that there will be short term variations from the target, and the target is reviewed annually, In detem)ining the target, the Trustees take into account.. the perceived uncertainty in the economic and regulatory environment. the risk appetite and key risks of the Group,. the strategic objectives of Rennie Grove Peace; the extent to which the General reseNe is represented by liquid assets. Taking account of the matters above, the Trustees have determined that the appropriate target is for the General reseNe to represent 9 to 12 months of budgeted operational expenditure. At 31 March 2024, the General Reserve was within the target range. The Trustees recognised, with the difficult income generation and expenditure environment (which may result in a net loss in 2025), there is a short-term risk that the level of the General reseNe will fall below the medium- temi tsrget. This situatSon will be monitored in 2024-25 by the Trustee5. 23 1 Page RENNXE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Accumulatedprofits ofsubsidiary The Accumulated profits of subsidiary of £59k at 31 March 2024 (2023: £59k) represents the Capital and reserves of lain Rennie H05pice servi￿ Limited, a private limited company whose ultimate parent company is Rennie Grove Peace. Designated funds The Trustees have designated certain Unrestrirted funds to known and expected projects which are expected to be caried out over the short and medium term and which are considered essential to ensure the successful delivery of the Group's strategy. In setting the amount of the Designated funds, Trustees consider these projects are adequately, but not ex￿siVelY, funded. The following Designated unrestricted funds, totalling £4.9 million, are specified at 31 March 2024: Propety fund. Funds attributable to propety assets (e.g. land and buildings) employed in Rennie Grove Peace s operations. £1.9 million. Investment propety fund. Finances a donated propety held for its capitsl appreciation and rental stream and not used in the day-to-day operations of Rennie Grove Pea￿. £l.I million, Capital programmes fund. Capital projects 5dentified for the strategic planning peri￿. £1 million. Strategic iniiiatives fund. Initiattves identified by the EB, and supported by the Trustees, to support our clinical and operational plans as we progress the Group's strategy, £0.5 million. Fixed asset fund. Finances non property tangible fixed assets. £0.4 million. Designated unrestrirted funds at 31 March 2023 totalled £5.2 million Re5tri¢ted Funds Restricted funds are subject to Specific requirements defined by donors and will only be expended In accordance with those requirements. The princlpal Restricted funds totalling £4.1 million at 31 March 2024 were.. Propety fund. Thi5 is repre*nted by the net book value of the Gillian Ktng House and Grove House buildings. £2.4 million. Department of Health grant. To improve facilities at Pea￿ Hospi￿. £0.6 million. Nurses Cottage Fund. To fund the care of patients in the Great Missenden and Prestwood areas. £0.2 million. Shaw Charitable Trust. To enable the enhan￿ment of key IT systems. £0.2 million. Pepper Foundation/NHS Hospice UK. To fund children's servI￿s. £0.2 million. Hospice UK grant. To expand 2417 nursing services. £0.2 million. Restricted funds at 31 March 2023 totslled £3.9 million. GOXNG CONCERN The merger of RG and PH brought together two established and financially Sound charities. In implementing the merger of the two charities, the Trustees have placed a high priority on building on these sound financial positions, and retaining finanaal sustainability continues to be a key aim of the Trustees. The consolidated balance sheet of Rennie Grove Peace at 31 March 2024 is considered by the Trustees to be sound. In particular: 241 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The level of unrestricted designated funds, at £4.9 million, and the General ReseNe, at £17.8 million, are adequate to support the operational activities of Rennie Grove Peace for the foreseeable future. The General Reserve is represented, to a significant degree, by liquid funds. The tangible fixed assets of Rennie Grove Peace further underpin the operations of the Group and near-term capital expenditure plans are financed by existing unrestricted funds, Rennie Grove Peace has no long-term borrowing obligations. The Board and Board commlttees regularly review the financial position of Rennie Grove Peace and its subsidiaries. The risk management framework includes monitoring of financial and other risksi policies for funds and the General reserve, and a prO￿sS of preparing and reviewing cash flow and financial assets positions is in place. The Group has B track record of financial resilien￿, flexibility, and adaptability. In 2024, we worked hard to combine policies, procedures and prO￿$se5 of RG and PH so that efficiencies in the futLJre can be achieved. Whilst recognising the challenges to our income generation and the cost base of Rennie Grove pea￿ arising from growing patient nLJmbers and the current economic environment (which could produce an operating defficit in the immediate future), the Trustees are confident that the existing financial strength of Rennie Grove Peace means that our ability to meet our operational responsibilities is unchanged. The Trust&s have conduded, following reviews of the financial tJ)sition and future plans of the Group, that there are no material uncertainties that would cast doubts on Rennie Grove Pea￿,$ ability to continue its activities for at least the next 12 months. Accordinglyi It is appropriate to employ the going con￿rn concept in the Consolidated Financial Statements. INVESTMENTS AND INVESTMENT POLICY To provide Confiden￿ in the medium-term financial sustsinability of Rennie Grove Peace, and to provide protection against future unexpected income or expenditure events, Rennie Grove Pea holds financial a5￿ts in excess of the immediate operational needs of the Charity. As these financial assets are expected to be held for the medium term, they are held in return- 5￿kIng investment portfolios with the aspiration that the assets produ￿ returns in eX￿sS of the return available on cash and provide protection against inflation. The assets are predominantly held as marketable securities and carry an element of investment risk. Rennie Grove Pea￿ utilises a regulated investment advisor to advi￿ on the method, type and amount of holdings. Rennie Grove pea￿ has developed Financial Assets Policies which, amongst other matters, descrSbe the objectives and constraints of the investment portfolios, the expected risvreturn chararteristics of the investment portfolios, the requirements of investment advisors, and governance arrangements. A55ets are mainly held as units in the Barclays Charity Fund and totalled £6.3 million at 31 March 2024 (2023.. total £5.9 million with Barclay5 Charity Fund and fuTKIs under the advi￿ of EPOCH). The overall risklreturn profile is considered to be moderate with an investment horizon of more than five years. Trustees meet with investment advisors at least twice-yearly to discuss the asset allocation and perf0rrnan￿ and to assess whether the investment portfoli05 continue to meet the Trustees, objectives. 251 Page RENNIE GROVE PEACE HOSPXCE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT ON FUNDRAISING Rennie Grove Peace is committed to ensuring its fundraising activity remains open, transparent and accountable. We respert the privacy of our supporters and donors, and adhere to GDPR regulation, seeking opt-in permission to contact by email or telephone and giving supporters the opportunity to refine their contact Preferen￿5. We welcome feedback. Rennie Grove Pea￿, RG and PH are all registered with the Fundraising Regulator and committed to the Fundraising Promise and adheren￿ to the Code of Fundraising Practi￿ and are signed up to the Fundraising Preference Service, enabling supporters to opt-out from re￿Iving fundraising communication5. In 2023-24 Rennie Grove Peace received no complaints that required reporting. STATEMENT ON ENERGY AND CARBON REPORTING Rennie Grove pea￿ recognises the importance of making a full and lasting commitment to reducing the greenhouse gas emissions from our activitie5, in sUPPOrt of the wider commitment of the world to limit global teM￿ratUre increases and the Impact on the planet. This is the first year of reporting as Rennie Grove Peace and therefore no prior year comparisons are available. We commit to the following: For our company to achieve Net Zero in line with the Science Based targets set out by the UNFCCC i.e., to achieve Net Zero no later than 2050 and tsrget a 50¥0 reduction in emissions by 2030. To set realistic short- and long-term targets that are designed to achieve our Net Zero commitments. To report the total Greenhouse Gas emissions of our business, at a minimum, on an annual basis. Year Earlier Year If Posslble Commitment to be Net Zero 2050 2045. 50% Emlsslons Reduction 2030 *ln line with NHS requirements Emissions Data The data contalned in the table below represents emlssions calculated and consistent with SECR requirements. Current ReportlnE Year Apr 23. Mar2Jl Energy to#sumptlon used to calculate em1551on5 Ga5 Stope l- kwh 52,300 Energy consumptlun used to¢alculateem1$510Tr5Comp3nv Vèhlcles Scope l- kwh 60,484 26 1 Page RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Energy consumptSon used to ￿lcUlate emlsslons ElpctrlcltyScope 2- kwh 323,397 Total energy consumptlon (Scope5 1 and 21- kwh 436,181 Basis of E)erEY reporting (LO￿tIOn or Mavketl Market OF totsl energy sourced from ¢ertlfled renewable sources 12.2% Emlsslons from actlvltle5 for whl. unlisted Investments RG owns 28 shares of £1 nomlnal value each in The Hosp1￿ Lottery Partnership Llmlted, a company registered in England and Wales carrying out fundraislng actlvity. The investrnents are Included the finanaal statements at C05L 471 Page RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. INVESTMENTS (CONTINUED) Unlisted Investments (Continued) Each participating hospice has a representative on The Hospice Lottery Partnership board. During the year to 31 March 2024, The Hospi￿ Lottery Partnership Limited made donations to Group companies totalling £400k (2023.. £400k). As at 31 March 2024, £nil was due to the Group from The Hospi￿ Lottery Partnership (2023.. £nil). 15. STOCK Group Charlty 2024 2023 £'ooo £'ooo 2024 £'ooo 2023 £'ooo Bought in goods for resale 97 86 16. DEBTORS Group Charity 2024 2023 £'ooo £'ooo 2024 £'ooo 2023 £'ooo Trade debtors Prepayments and actnjed legacy Income Income tax recoverable VAT Intercompany debtor5 Other debtors 1,330 2,857 52 241 180 5,450 37 73 1,980 50 147 loo 21 343 99 4,823 5,839 2,298 17. CREDITORS: amounts falling due within one year Group Charity 2024 £'ooo 2024 £'ooo 2023 £'ooo 2023 £'ooo Trade creditors Taxation and social security Pensions Accruals and deferred income Intercompany credltors Other creditors 490 225 171 829 558 87 88 932 149 225 169 508 268 io 1,721 1,675 1,320 Accrijals and deferred Income indude def￿r￿ income as follows- Group Charity 2024 £'ooo 2023 £'ooo 2024 £'ooo 2023 £'ooo At l April Amounts deferred in the year Atnounts released in the year 515 436 1515) 500 492 (477) 254 436 515 254 At 31 March 48 1 Page RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 18. PENSION COMMITMENTS During the year, Group companies contributed to four pension schemes on behalf of their employees. The NHS Penslon Scheme The Pensions Trust Growth Plan The Stsndard Life defined contribution scheme The Now penS￿n Scheme contr1t￿tiOnS to each scheme are charged to the Statement of Flnancial Actimties as they arise. The NHS Pension Scheme Hospi￿ staff who were members of the National Health Seryice Penslon ￿heme are allowed lo continue their membership while employed by any of the Group charitie5. Contributions are made by both employee and employer. As this is a multi-employer scheme, it is not p0s￿ble to identify any one Institution's share of the underlying liabilities. The Scheme is therefore accounted for as a defined contribution scheme and contributions are accounted for as they fall due. The Scheme accounts can be viewed on the NHS Pension Agency website at www.nhsbsa.nhs.uk or obtained from The Stationery Offi￿. The Group's current empbyÈr contribution rate is 14.38% of a total amount of 20.68Yo for which the remaining part 6.3% is Met by the Department of Health. The rate is set on the advice of the Government Actuary. £40k contributions were outstanding at 31 March 202412023: £26kl. The Pensions Trust Growth Plan Several RG employees bdong to a money purchase scheme wlth guaranteed benefits. Contributions are made by both employee and employer In accordance with the rules of the scheme. As this is a mulli-employer scheme, it is not possible to identify any one institutlon's share of underlying assets and liabilities. The scheme 15 therefore accounted ft)r as a defined contribution scheme and contributions are accounted for as they fall due. A deficit was Identified and a ten-year deficit reduction plan has been agreed, into which the Group pays a sum of £44 per annum. The most recent estimate as at 30 September 2022 shows that a liabillty of £21k would arise If RG withdrew from the Plan12023.' £21k). This liability has been provided for in the financial Statements. £2k In penslon contributions were outstanding at 31 March 202412023.. £2kl. The Standard Life Scheme For other fomier RG and new RGP Staff, the Charity provides a defined contribution scheme operated by Standard Life. Contributions are made by both employer and employee in accordance with the rules of the scheme. The penson contributlons outstanding at 31 March 2024 totalled £96k (2023.. £40k) NOW: Pensions For other former PH staff, the (harity has operated a group tErsonal {money purchase) pen51on scheme, NOW.. Pensions. Contributions were made by both employer and employee in accordan with the rules of the scheme. £33k contribubons were outstanding at 31 March 2024 {2023.' £31k). The a55ets of both the Standard Life and Now.. Pensions schemes are held separately from those of the Charity in independently administered funds. The Charity has no liability beyond making its contrlbutions and paying across the deductions ft)r the employee contributions. 49 1 Page RENNIE GROVE PEACE HOSPXCE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. FUNDS (2024) Gains, 105ses and At31 transfers March 2024 £'ooo £'ooo At l April 2023 £'ooo Income Expenditure £'ooo £'ooo GROUP Unrestricted funds General reserve Accumulated profits of Subsidiary 17,687 17,298 (L7,428) 247 17,804 59 212 (212) 59 Designated funds Investment propety fund Fixed asset fund Merger implementatlon fund strategic Initiatives fund Property fund Capital programme fund 1,150 342 212 500 2,012 1,000 (301 181 1,120 347 1176) 1212) 5LX) 1,937 1,000 (75) Total unrestricted funds 22,962 17,510 (18,103) 22,767 Restricted funds Property fund Pepper Foundationl NHS Hospice UK funding Nurses Cottage Fund Departfnent of Health grants The Shaw Charitable Trust Hospi￿ UK grants other restricted funds 2,424 134) (180) 2,390 206 146 226 616 197 198 150 386 146 234 633 65 285 79 (9) (17) (65) (87) {104) (8) 197 175 Total restricted funds 3,866 767 {496) (8) 4,129 Total funds 26,828 18,277 (18,599) 390 26,896 501 Page RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. FUNDS (CONTINUED) (2024) Gains, losses and At31 transfers March 2024 £'ooo £'ooo At l April 2023 £'ooo Income Expenditure £'ooo £'ooo CHARITY Unrestricted funds General reSe￿e Accumulated profits of subsidiary 25.831 (10,021) 11,482) 14,328 Designated funds Investment property fund Fixed asset fund Merger implementation ftjnd strategic initia￿veS fund Property ftjnd Capitsl programrne fund (4) 68 64 5CX) 500 1,000 1,000 Total unrestricted funds 25,831 (10,025) 86 15,892 Restrirted funds Propety fund Pepper FoundationlNHS Hosplce UK funding Nurses Cottage Fund Department of Health grants The Shaw Charitable Trust Hospice UK grants Other restricted funds iii (3) 108 Total restricted funds iii (3) 108 Total funds 25,942 {10,0281 16,000 511 Page RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. FUNDS (CONTINUED) (2023) Galns, losses and At31 transfers March 2023 E'ooo £'ooo At l April 2022 £'ooo Income Expenditure £'ooo £'ooo GROUP Unrestricted funds General reseNe Accumulated profits of subsidiary 13,375 58 17,256 210 {15,593} (209) 2,649 17.687 59 Deslgnated funds Legacy investment fund Investment protty fund Fixed asset fund Building refurbishment Digitsl transformation Merger implementation fund Strategic initiative5 fund Revaluation reserve Operational reserve Propeity fund Capital prOgram￿e fund 3,772 {3,7721 1,150 309 (3001 (5001 212 500 161 (1,3801 (4321 865 1,150 342 90 300 500 (57) 212 500 J,380 2,444 135 2,012 1,000 Total unrestrlcted funds 22,060 17,466 (15.859) (705) 22,962 Restrirted funds Property fund Pepper FoundatlonlNHS Hospice UK funding Nurses Cottage Fund Department of Health grants The Shaw Charitable Trust Hospi￿ UK grants Other restricted funds 2,458 (34) {426) (16) (9) (17) 2,424 426 16 146 273 650 146 234 633 65 285 79 (39) 65 285 120 198 {239) Totsl restricted funds 3,647 714 {741) 246 3,866 Total funds 25,707 18,180 {16,600) (459) 26,828 CHARITY The Charitable Company was formed in January 2023 and had no artlvltles generatlng income or expenditure in the period to 31 March 2023. As a re5uIt, no COMpara￿ve Charlty Funds ststement for 2023 is presented as there is no Charity income or expendbture to report. DESIGNATED FUNDS The Trustees have deslgnated the following unrestricted funds at 31 March 2024 and 2023: Investment property fund FInan￿S a donated property held for its capital appreciation and rental stream and not used in the day-to-day operation of the Group. 521 Page RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. FUNDS (CONTINUED) Fixed asset fund Finances the net book value of fixed assets other than protErty. Merger implementation fund Represented by key proierts ne￿SsarY to successfully implement the merger. strategic initiatives fund Inltiatives identified by the Executlve Board, and supported by the Trustee5, to suppr>rt clinical and operational plans to priNJress the Group's strategy. Property fund Finances the net book value of the pea￿ Hospi￿, excludlng the element of the property fInan￿d by the Department of Health. Capital programme fund Capital projects identified for the strategic planniro periiNJ. RESTRICTED FUNDS Property fund The Propety fund represents the net book value of Gillian King House, a freehold property purchased through a gift from a trust in November 2002 to accommodate the nursing and support teams operating in the South Bucks area, and the Grove House prernises, which 15 a leasehold property, subject to a lease from the Department of Health for 99 years from 1991. The construction and subsequent extensions of the premi5e5 have been financed mainly from grants and donations made for these specific purposes. Pepper FoundatlonlNHS The Pepper Founcfation and Department Df Health funds are received towards the salaries and expense5 of the paediatric H05pice at Home team and the fatnily support SeN1￿$. Hospice UK funding Grants to support the expanslon of the 2417 nursing care serv(ce. Nurses Cottage Fund In May 2018, RG recewed a donation from The Nurses Cottage Trust consisting of treasury stock and cash. The balan￿ consists of the treasury Stock which 15 adjusted to market value at each year end. The Trustees have approved the use of any earned interest on dinical care in the Great Mlssenden and PrethocNJ areas. Department of Health grants Grants made to fund expansion and improvement to facllities at PH. The Shaw Charitable Trust Grants to enable the enhan￿ment of key IT systems. Hosplce UK grant$ For collaboratlon and data analytics projects. otheT restricted funds Other restdcted funds cons1St of smaller grants and donations given for spedflc purposes or wojeLts. TRANSFERS During the year, Enil was transferred from the General reserye to Restricted furK15 (2023: £285k}. The Capital programtlle fund of £l,OOOk and Strategic inbtiatives fund of £500k will now be srknt by RGP and therefore have been unde5ignated in 2024 by RG and PH and designated by RGP. 53 | Page RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. ANALYSIS OF NET ASSETS BY FUND {2024) Unrestricted funds £'ooo Restricted funds £'ooo Total É'ooo GROUP Tanglble fixed assets Investment property Investments Other nel assets 284 1,120 6,577 12,786 3,006 5,290 1,120 6,803 13,683 226 897 Total net assets 22,767 4,129 26,896 un￿strICted funds £'ooo Restricted funds £'ooo Total £'ooo CHARITY Tangible fixed assets Investment pro￿rtY Investments Other net assets 64 6,314 9,514 6,314 9,622 108 Total net assets 15,892 108 16,000 ANALYSIS OF NET ASSETS BY FUND (2023) Unrestricted funds £'ooo Restricted funds £'ooo Total £'ooo GROUP Tangible fixed assets Investment propety Investments Other net assets 2,355 1,150 6,173 13,284 3,057 5,412 1,150 6,407 13,859 234 575 Total net assets 22,962 3,866 26,828 CHARfTY The Charitable Company was fomied in January 2023 and had no activities in the period to 31 March 2023. As a result, no comparative Charity Analysis of Net Assets by Fund for 2023 is presented. 541 Page uv RENNIE GROVE PEACE HOSPJCE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. RELATED PARTY TRANSAcfioNS The (harity has six subsidiaries detailed In note 21 above. During 2024, £3.5 million of investments held by RG were donated to RGP (2023.. £nil). Cash of £10.5 mlllion and £6 million was donated to RGP by RG and PH, re5pecbvely12023- £nll). lain Rennie Hospice Seryices made donations to RGP of £107k12023.' £nil). s at 31 March 2024, RGP owed £142k to PH and £126k to RG (2023: £nil}- As at 31 March 2024, lain Rennie Hosp1￿ servI￿s owes £IOOk to RGP {2023'. £nill. 23. FINANCIAL COMMITMENTS As at 31 March 2024 the Group was committed to maknng the folk)wing payments under n[nnation of Investment propety Depreciatlon of tangl￿e fixed assets Unrealised (gains)Ilosses on investments (Gains)/los*s on investment property Interest received Realised (galns)Ik)sses on investments (Increase)Idecrea* in stock (Increase)Idecrease in debtors Increaselldeuease) in credltors 68 1,121 {1,250) 362 360 loo 180) (i) {8) 1,172 32 302 {133) 30 {331) {287) Iii) 1,016 46 Net eash generated by operating activities 700 1,808 56 1 Page RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 25. COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (2023) Unrestricted funds £'ooo Restricted funds £'ooo Total 2023 £'ooo Notes XNCOME: Donations and legaaes Charitable activities Other trading activities Other Interest recqvable 6,638 5,029 4,982 746 71 267 434 6,905 5,463 4,986 746 Total income 17,466 714 18,180 EXPENDJTURE: Raising funds Charitable activities 6,118 9,741 6,118 10,482 741 Total expenditure 15,859 741 16,600 Loss on investment property Net gainsl(1055es} on investments 13 14 (ioo) (320> {ioo) {359) (39) Net Incomel(loss) 1,187 (66} 1,121 Transfe￿ between funds 19 {285) 285 Net movement in funds.. 19 219 1,121 Funds at beginning of year 22,060 3,647 25,707 Funds at end of year 22,962 3,866 26,828 57 1 Page