RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Rggister•d Company Number: 14355610 Registered Charlty Number: 1201713
CONTENTS Administrative Detai15 Chair's Report Trustees, Report Independent Auditor's Report 28 Consolidated Statement of Financial Activitles 31 Consolidated and Charity Balance Sheets 32 Consolidated Statement of Cash Flows 33 Notes to the Financial Statements 34 IIPage
REIINIE GROVE PEACE HOSPICE CARE ADMINISTRATIVE DETAILS Charlty Name Rennie Grove Peace Hospice Care Charlty Number 1201713 Companyllumber R•glster•d Offlc• 14355610 Peace Hospice Peace Drive Watford Hertfordshire, WD17 3PH Trust• DrJ Shindler (Chairman) Mr C Inman OBE (Vice Chairman) Mr J Wroe ITaSrer) Mrs E Moralez-Perez Ms M Ball (Appointed 27 March 20251 Mrs E Coleridge Smith (Resigned 21 January 20251 MrAGraham MBE Mr M Ferguson MrSHamill Mrss Hill Mrs J Langfield Ms J Mor05CO Mr R Russell-Hogg Mr C Speed (Appointed 27 March 20251 DrA Wainwright Company Secretary Mrs E Moralez-Perez Chlef Executlve Exe¢utlve Board MrDS Montgomery-marks Mrs J Westlake-Tritton Dr S Klinger Mrs P Pickersgill (Resigned 30 April 20241 Ms RAhmad Mrs T Hancock Mrs D Gould IResigned 31 January 20251 Mrs E Thompson Ms J Reeves (Joined 18 November 20241 Mrs P Wren (Joined l April 20241 Audltors Haysmac LLP 10 Queen Street Place London, EC4R IAG Bank•rs Barclays Bank PIC Public Sector team Level 11 I Churchill Place London E14 5HP Sherrards Solicitors 4 Beaconsfield Road St Alban5 ALI 3RD Sollcltors 21Page
RENNIE GROVE PEACE HOSPICE CARE CHAIR'SREPORT FOR THE YEAR ENDED 31 MARCH 202S OUR YEAR IN REVIEW The year ha5 been a mixture of internal successes and developments tempered with external pressures from the NHS financial situation and the wider fiscal challenges across the national economy that are not specific to the charity and hospice sectors. We have introduced both new technological hardware and software during the year that support more efficient and sustainable work practices and have streamlined our clinical workforce to enable us to meet our goals of seNing and reaching more people. Our financial year end finds u5 With very healthy reserves but with our first, manageable, deficit of £217,000 being 1.20/0 of turnover. We remain extremely vigilant about our expenditure and very concerned for the future of the h05pice sertor. The installation of state-of-the-art digital networks and telephony has completed the foundations that we need to make best use in the coming years of the digital innovations of our time and so enhance our efficiency. Work on our"Clinical Dashboard" is now almost complete. Utilising the sophisticated information from our clinical records software Isystmonel, we have built the bespoke reports that we need to describe our clinical effectiveness, quality and outcomes in real time. This will enable us to better demonstrate the real value of our services in the local health economy. There has also been an extensive review of our estate, setvices and carbon utilisation which the Board looks forward to receiving at the end of the next quarter. so that in my next report I hope to detail further our environmental strategy. Recruitment of clinical staff remains a problem nationally. We employ nurses and paramedics within our community teams and whi15t the vacancy rate has fluctuated throughout 2024-25. we have seen an increase in application5 more recently and vacancy rates both in our community service and staffing in the in-patient unit have improved. We see this improved retention and better internal career prospects as a planned p051tive outcome from the merger. In 2024-25 we have seen significant growth in our early support activities delivered in the community: 1502 attendances ill the community with 29 Hub sessions and 210 Cafe sessions. We launched I new Hub and 2 cafes. This was an increase in our Compassionate Communities of 212% from the previous year. We have developed a new strategy for the forthcoming three years that was launched on l April 2025. This has grown, during thi5 year oyt of our original reasons to believe in coming together of serving more people, widening our reach and strengthening our offer, into a plan to offer SeICe5 to and see more people earlier in their end-of- lifejourney. This is based on good evidence that earlier inteNention results in better symptom control and greater 5ucces5 in achievingthe preferred place of care and death. Our service commissioner5 in Buckinghamshire undertook reviews of both the Adult and Children's services that they wished to commission. Their plan was to streamline and better align services to the general practice areas in which they are delivered. We were aware that our very small staff of children's nurses was difficult to justify and agreed that these young clients would be more effectively served by the two larger providers of these services in the area.-Our bereavement and counselling services to children and young people, however, continue. We a150 worked with the commissioners and partner adult hospices to reduce duplication of cover in part5 of South Buckinghamshire, so that our catchment has changed in this area with both geographical gains and105ses. The net result has been better integrated services for all. Our collaborative work continues with local partners, and particularly this year, I should like thank our partners at The H05pice of St Francis in Berkhamsted, who provided beds for our inpatient seNice during a two-week closure of the Peace Hospice for major electrical and digital Sel¢e improvements. We continue to work collaboratively with all our hospice partners and commissioners in South Buckinghamshire and West Hertfordshire on service design and making best use of very limited state resources.
RENNIE GROVE PEACE HOSPICE CARE CHAIR'SREPORT FOR THEYEAR ENDED 31 MARCH 2025 Many thanks are due to Deborah Gould, who retired during the year from her post of Director of Retail & Trading and after 13 years in total with our organisation. By the end of her tenure. with her dedication and leadership we had 32 shops and our successful on-line trading centre which in total, generated £0.7m of net contribution. We welcomed Julia Reeves as Director of Transformation & Improvement. who joined us in November 2024. Julia is to be accountable for technology, property, and estates, as well as for creating and driving the high-level roadmap for the strategic initiatives we will pursue across the organisation each year. This new directorate has also the aim of bringing people together to drive improvements in a cross-functional way. In line with many charities and almost all hospices, economic conditions were, and are, very difficult. We are immensely grateful to our donors and sUPPOrters, individual, corporate and those who donate in memoriam who have continued to support us in these difficult time5. Many thanks and congratulations are due to everyone who has supported events during the year, where we have seen a welcome upturn in both activity and fund5 raised. A5 ever, legacy income is an incredibly important source of support for us. but inevitably the range of this fluctuates, and this year has seen a lower contribution than in recent years which have been exceptional. We are working with and supporting the national Hospice UK legacy campaign to help raise awareness of the funds that all hospices need. Our statutory income remains at 14% of expenditure, well below the national average. We are extremely grateful to the Secretary of State for Health & Social Care and Hospice UK for negotiating capital funding to support hospices. We received £279,579 from the fund thi5 year and anticipate a further amount in the region of £800.000 in 2025-26. Finally, ourthank5 as ever, are due to the skill, dedication, and hard work of our Executive Board, all our non- clinical and clinical staff, volunteers arsd partners. In this difficult trading year, l also especially thank you, all our SUPPOrters and benefactors. for your enduring kindness and wonderful gifts during this last year. Tha DrJe y Shindler
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THEYEARENDED31 MARCH 2025 TRUSTEES, REPORT The Board of Trustee5 (the Board) presents it5 Annual Report and Financial Statements forthe year ended 31 March 2025 which comply with the requirements of the Componies Act 2C106, The Charitie5 Statement of Recommended Practice ISORPI and the ChoritiesAct2011. The Trustees, Report incorporates the requirements of the Strategic Report as required by the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013. INCORPORATION, OBJECTIVES & ACTIVITIES The Rennie Grove Peace Group (Rennie Grove Peace and its subsidiarie5, "the Group") provides palliative and end- of-life advice, support, education and a wide range of services to those people who are registered with 59 nominated GP practices within West Hertfordshire and Buckinghamshire. Rennie Grove Peace 15 a speci31ist palliative care provider whose services are delivered by a multidisciplinary team of nurses. doctors, allied health professionals. therapists, support staff and volunteers who will ensure the right 5eNice is delivered by the right person at the right time. Professional and self-referra15 are received for those patients and those who care for them, including from the Health & Social Care workforce. At Rennie Grove Peace, we provide our support in four stages.. Early Support, Living Well, Dying Well and Bereavementsupport. Our patient services are available to adults as well as patients transitioning into 3dult seNices116 to 25 years.) Bereavement support is offered for all ages to families of patients and those around them. We are proud to offer care in the place that best suits the individual's needs, whetherthat's at home, in a care home. during a short stay in our inpatient unit, out in the community, or in our purpose-built Living Well Centre facilities. As a hospice care charity, we have offered this support, free of charge, for over 40 years. It Costs over £18 million a year to run our service, the majority of which comes from the generous support of our local community. Only 14% comes from statutory fltnding. Our staff team of over 340 include5 a wide range of patient-facing disciplines plus operational support based in Watford, Tring. 5t Albans, Chalfont St Giles and Berkhamsted. The Charity is now one of the larger UK hospice charities. reaching a GP population of 797,037 of whom 750/0 live in Hertfordshire and 25Wo in Buckinghamshire. Looking after over 4,500 patients a year, as well as those around them, is a huge privilege, one we simply could not achieve without the incredible support of our 1600 strong volunteer workforce. Our multidisciplinary team helps people to live well and receive support in the place that best suits their needs, when they need it the rnost. We are here to help the whole family cope during the most difficult of time5, early in diagnosis. during a patient's illness and, if needed. when those around them are dealing with grief and bereavement. Our future sustainability as a hospice care provider depends on: leading the right people with the right skills to meet our patients, needs streamlined operational efficiencies and processes secure and planned funding a new data-driven approach to all our decision making, and an empOWed and motivated workforce. 51Page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES'REPORT FOR THE YEAR ENDED 31 MARCH 2025 Thi5 gives us five strategic priorities.. Patients, Excellence, Future Sustainability, Data and People with which to achieve our overall vision to.. SeNe our communitie5 Wlth a wider range of services Reach more local people Strengthen our ability to secure further resource We are fully committed to providing excellent palliative and end of life care, free of charge, to all those who need it in our community, now and in the future. 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 Act 2011. They have considered the public benefit guidance published by the Charity Commission and believe that they have followed it. This 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 within West Hertfordshire and the mid and south areas of Buckingham5hire with a palliative diagnosis have the choice about how and where they wish to be cared fortowards the end of their lives. Rennie Grove Peace provides seNices in line with the aim of the National End of Life Care Strotegy (2008) to provide services 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 toyou forend-of-life core.- the Government Response to the Review of Choice in End-of-Life Core120161'. In addition, Rennie Grove Peace is committed to Ambitions for Palli(Ftive and End of Life Care.'A national framework for locul oction 2021-2026. The National Palliative and End of Life Care Partnership created this framework to 'improve end of life care through partnership and collaborative action between organisations at a local level throughout England" GOVERNANCE Rennie Grove Peace 15 a company limited by guarantee under the Companies Act 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 ceasing to be a member. There were 14 member5 at 31 March 2025. CHARITY GOVERNANCE CODE The Charity Governance Code (the Code) is a set of principles and recommended good practice against which Charities may compare themselve5 and identify areas of strength and for potential improvement. The Code includes seven principles which the Board has considered in its aim to ensure continued strong governance at Rennie Grove Peace. 61page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Organlsational Purpose The Board maintains the vision and mission of Rennie Grove Peace. It approves the strategy, operational plans and budget. During the year the Board agreed the strategic priorities for the next three years. The Trustees operate as a team and receive reports from the Executive Board to ensure the proper functioning of the Charity. LeadehIp The Board maintains responsibility for ensuring the strategy of Rennie Grove Peace is established and followed. It ha5 a wide range of clinical and non-clinical abilities and experience from a variety of backgrounds. By meeting regularly with Executive Board 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 supportive ethos. Procedures are in place to prevent conflicts of interest and to ensure the Board is independent in its decision making. Decision Making1 Risk ond Control The Board has developed an effective committee structure that supports good governance, strategic oversight, and implementation of Rennie Grove Peace's strategic priorities. This structure allows the Board to focus on long-term developments and emerging issues, while operational matters are delegated to the Executive Board. The charity considers its key management personnel to comprise the Chief Executive and senior members of the Executive Board, who are responsible for the day-to-day operational leadership of the organisation. The Executive Board reports regularly to the Board on progress against strategic objectives and key development5. The organisation places strongemph3sis on effective risk management. Duringthe year, considerable progress has been made in strengthening risk management processes, including more systematic identification, assessment, and monitoring of key risks across all areas of activity. As part of the governance framework. the Board also oversees the remuneration of key management personnel. Remuneration is reviewed annually and determined by the Board ofTrustees, considering benchmarking data from comparable roles in the charitysector. Decisions also considerthe scope and responsibilities of each role, individual and organisational performance, financial sustainability, and the importance of transparency and public accountability. Board Effectiveness The Chair carries out governance reviews supported by the Governance Committee to ensure the process for the recruitment, appointment and retirement of the Board member5 is effective. This includes periodic one-to-ones between the Chair and individual trustees. An induction proce55 for new trustees is in place. Trustees undertake a specified learning programme, and the Chair agrees other training directly with individual Trustees. Equolityi Diversity& Inclusion The Board recognises that a variety of perspectives, backgrounds and skills is essential for good governance. These matters are considered as part of the process for nominating new Trustees and were key considerations in the appointment of the new Trustees in the year. Openness andAccountability The Board place5 great importance in ensuring that Rennie Grove Peace's services, activities and impact are reported to all stakeholders in a transparent manner. Key information is made available to colleagues, volunteers and stakeholder5 by the Chair and Chief Executive via publication of our annual Quality Account and Impact ReporL We actively seek feedback on all clinical activities from patients, carers and seNice users via '1 Want Great Care" and reportoutcomes and impacts to our Governance Committee and Board. 71Page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 GROUP STRUCTURE Rennie Grove Peace has six subsidiary companies: Rennie Grove Hospice Care IRGI The lain Rennie Hospice at Home lain Rennie Hospice SeNices Limited st Albans and Dacorum Day Hospice Peace Hospice Care IPH) Peace Hospice Shops Limited Governance Rennie Grove Peace is an independent registered charity governed by an elected Board of Trustees, with powers prescribed by its constitution in its main governing document, the Memorandum and Articles of Association. The Trustees are formally selected and appointed 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 services are effective, as well as overseeing efficient financial stewardship and financial planning of the charity. All new Trustees participate in an induction programme which includes attendance at the RGP organi5ational induction. In addition, they meet with existing Trsjstees and Executive Board members to SUPPOrt their orientation. Trustees are required to complete annual E-learning modules on General Data Protection Regulation IGDPRI and Information Governance including passing the a55essments on completion of these units. Relevant training opportunities are also offered to support them in fulfilling their roles effectively. The Board of Trustees delegates certain of its powers to the Chief Executive and five sub-committees: The Governance Committee The Clinical Governance Committee The Development, Operations& Performance Committee The Risk &AuditCommittee The Investmentcommittee An annual evaluation of the Board and its sub-committee5 has been performed. The Fit and Proper Person Requirement IFPPRI framework is being effectively applied at Rennie Grove Peace, and all Trustees and the Executive Board have completed their annual FPPR self-attestation, and the appropriate checks undertaken. They all are deemed to be fit to carry out their role and none of them meet any of the unfit criteria. EXECUTIVE BOARD The Rennie Grove Peace Executive Board is led by the Chief Executive who is appointed by, and accountable to. the Trustee& They have responsibility for the day-ti>day management of the Charity, ensuring it functions within the law in accordance with Charity Commission rules, Care Quality Commission standards and the Board of Trustees, Powers and the Scheme of Delegation Policy. The Executive Board consists ofthe Chief Executive. Chiefclinical Officer, Medical Director, Directorof People. Directorof Marketin& Director of Fundraising. Director of Transformation & Improvement. Director of Retail & Trading Icurrently 81page
RENNIE GROVE PEACE HOSPICE CARE TRiISTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025 being covered by other Director51. D1clOr of Governance Icurrently Interim) and Director of Finance (currently being covered by other Directors). Section 172 Companies Act 2006 The Trustees are the directors of Rennie Grove Peace and have a duty to promote the success of the Charity and, in doing so, are required by section 172111 of the Companies Act 2006 to have regard to various Specific factors, including: LongTerm Consequences of Decisions The Trustee Board has developed an effective structure of committees. This allows Executive Board to effectively implement the strategic prioritie5 of Rennie Grove Peace whilst allowing the Board time to focu5 on strategic developments. Importance is placed on effective risk management and further progress has been made in the year in developi ng risk managernent processes. The Charity is improving its data capture process, to be able to assess and react to demographic and service development5. This analysis has been an important consideration in strategic planning. Charlty Relationships With ourpotients ond those around them By sUPPOrting individuals much earlier in diagnosis, we can develop stronger relationships, both with those in our care and with their wider friends, families, work colleagues and all those around them. We can get to know their wishes, help them embrace the life they have left and i mprove their overall palliative or end of life experience. With ourlocalcommissioners, h05Plta15, hospi¢e, healthcare and choritypartners Thanks to our planned care approach, rather than unplanned crisis visits, we can setwe our community as part of an overall joined up healthcare provision. During this strategic period, we will collect evidence towards our goal of working together with local healthcare partners to reduce hospital admission5 during palliative care by 250/0. With ourfuture supporters Through building stronger patient, family and sUPPOrter relationship5, we will have the potential to develop and grow income generation that will help secure the future sustainability of the organisation. Developing stronger relationship5 will help ensure that local hospice care remains accessible to all, for now, for all, forever. Our Volunteer5 Volunteer5 continue to support Rennie Grove Peace to deliver our services to more people. They are our ambassadors in our community, spreading the word about the vital work that we do and the many ways in which people can support us. Without our volunteers. we would not be able to offerthe wide range of seNices that we do or maintain our vital income 5trearn. Impact in the Community and Environment Rennie Grove Peace Trustees and staff are committed to acting in accordance with our environment81 plan5. We aim to identify and seek to minimise negative environmental impact. Actlng Fairly Rennie Grove Peace is committed to ensuring all staff and volunteers are treated fairly, has an Equality and Diversity policy and takes an active approach to Staffwellbeing, including both a Freedom to speak Up Trustee and Guardian. 91Page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 202S CLINICAL ACTIVITIES Key information Total population: 797,037 of whom 751Yo live in Hertfordshire and 2546 in Buckinghamshire (based on our GP population) Total of GP practices: 59 Our clinical bases: Peace Hospice, Grove House, Rennie House & Gillian King House Our total combined clinical workforce: 162 whole time equivalent and a headcount of 182 We are part of two Integrated Care Systems IICSSI, Hertfordshire & West Essex IHWEI and Buckinghamshire, Oxfordshire and Berkshire West IBOBI 14% ofour income come5from statutory funding. Our Services We support individuals within Buckinghamshire and Hertfordshire who are affected by a progressive life-limiting illne55 or bereavement, and those who care for them. This includes: dementia, motor neurone disease arsd other neurological conditions. cancer. progressive respiratory conditions. heart failure and frail people. We help people to live well with their illne55, SO they can maintain their independence and enjoy life. We provide the care that is right for them, in the place that best suits their needs. Our sUPPOrt can be split into four stages: Early Support, Livingwell. Dying Well and Bereavement Support. Early Support, from diagnosis We are here for people from the moment they get their diagnos1S'. Supportand connections- OurSupportHubsofferadvice in the community, held in a safeand friendly place, with the opportunity to meet other5 also affected by a progressive life-limiting illness diagnosis. Local companlonshlp - Our Compassionate Neighbour volunteers provide company and emotional support through regular phone calls, visits and friendship, reducing the isolation of being unwell or frail. Planning ahead - Our specialist palliative care team supports people to plan ahead and put together an Advance Care Plan. Livlng well with illness We support people to live well with their illness through.. I:1 symptom management and pharmacy review clinics Living well with illne55 group cla55es Physiotherapy and therapeutic sessions le.g. complementarytherapies. high and low intensity exercise classes, creative therapy etc.) Frailty, Fatigue and Breathlessness programme5 Emotional support for patients and those close to them Welfare benefit advice and carers, 5UPPOrt Short stay in an Inpatient Unit to manage symptoms Dying well We support people at end of life to understand what a good death looks like and achieve it in line with their wishes. Iolpage
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THEYEARENDED31 MARCH2025 Athome Planned care through regular pre-scheduled visits Unplanned care through advice or visits Virtual ward as an alternative to inpatient care. patients Staying at home are overseen by the multidisciplinary team, including a Palliative Care Consultant Domiciliary care. available for the last 12 weeks of life, funded through Continuing Healthcare {CHCI funding Care home support through partner carer training and palliative care sUPPOrt In an Inpatient Unit Our 12-bedded unit supports around 150 patients per year for a Short stay in a dedicated bed 24-hoursupport through our Coordination Centre Our Coordination Centre is available for advice and clinical assessment. It provides a single point of contart for everybody who needs to acce55 our services. As the central hub for new patient referrals, the Coordination Centre team ensure thateverybody with a life-limiting illness can access the seNice that is right forthem, by carrying out standardised assessments. Each patient's need5 and circumstances are reviewed to ensure they are referred to the service or 5eTvices that are right for them - whether that is a service offered by Rennie Grove Peace or a partner organisation. The Coordination Centre operates from 8am to 6pm, seven days a week. The Centre can be contacted on 01923 60 30 30, 24 hours a day lurgent calls only after 6pm) or on email via coordinationcentre@renniegrovepeace.org Bereavement support We are there for families and loved ones, providing care and kindness at the most difficult of times, through one-to- one and group support. Ourcompassionate Cafés inthecommunityprovidea placetomeetotherswho have been affected by bereavement or105s. We also run CompassionART Cafes. where support is given while expressing feelings through art. We also work with schools and workplaces to supportconversations around death and dying and encourage access bereavement advice. Medicalteam Our medical team provide specialist medical and pharmacy support to patients as well as advice, support and education to nursing staff and allied healthcare professionals within the team. The clinical teams have access to medical support out of hours across the area we serve. Community Engagement and Compassionate Communities Our community engagement team works directly in our local community to raise awareness of our seNices and to enhance our profile in the area we seNe, targeting under-represented groups and widening access to our care. Our Compassionate Communitiesteam aims to build a more connected community for all people affected bydeath, dying or bereavement. We do this through our Compa55ionate Neighbours service- matching volunteers with local people who provide friendship and emotion31 support., our Compa55ionate Cafes which provide relaxed, friendly spaces for bereaved people to meet over a cup of tea or an art cla55' and our Support Hubs which offer wellbeing activities, connection and advice for those living with a serious illness. IIIPage
RENNIEGROVEPEACE HOSPICE CARE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 202S Learning& Development The Learning & Development team works across the whole organisation under the Director ot People, tasked with the creation and nurturing of a confident and skilled workforce. They lead on the provision of mandatory and other training to staff identified through the appraisal process and to our team of volunteers. Training Needs Analysis is carried out for all staff to ensure everyone can develop professionally. Training includes competency and additional specialist training to help develop a confident and competent workforce. Other work include5 external education for care home staff, as well as training local healthcare professionals, student placements and volunteers on wider palliative and end of life care, and bereavement support. Quality & Governance Our Quality & Governance teams are responsible forsupportingthe whole organi5ation to meet Its vision and overall strategic ambition standards, ensuring we adhere to regulatory requirements. The team monitor5 performance, proactively manages risk, provides quality assurance and clinical governance and demonstrates improved outcomes across all services. We are committed to delivering the highest standard of care, following best practice standards. ensuring our intended outcomes reflect the needs of our local population and we operate in an effective, efficient and ethical manner. The team is also responsible for ensuring the organisation's upholding ofthe CQC fundamental standards. OPERATIONAL REVIEWANDACHIEVEMENTS FOR THE YEAR CLINICAL SERVICES As well as the detail of our seNices described above, Rennie Grove Peace has 3 particular focus on recruitment as this remains a significant challenge. The last 12 months have included areas of service redesign for operational reasons and as a result of NHS commissioning decisions including the closure of the Rennie Grove Peace children's service and changes in the area of Buckinghamshire covered by Rennie Grove Peace services. There have been operational reviews within the outpatient/rehab and bereavement, listening and talking therapy seNices to enhance the efficiency and performance of these pathways. Considerable work has been undertaken over the last 12 months to streamline the data captured across patient services with the development of a data dashboard powered by Power Bl. Collaborative work has continued with partners in the local healthcare system to streamline seNices and reduce unnecessary duplication across different public and voluntary providers. FUNDRAISING We have seen strong event, major donor and trust income this year which ha5 helped to off-set some other income streams which have seen less support. We have closed the year ahead of ourtargetonce again and with an increased supporter base can build on this success in the coming year. Key achievements included the Big Give Challenge, which reached it5 target of £IOO,000 in just 48 hours. Two new events took place- Strictly Come Hospice which raised £50,000 and ourfirst overseas trek, to Vietnam, which raised £105,000. The London Bridges Walk, Chilterns Three Peaks Challenge and London Marathon continue to be strongly su pported and key income contributors. We celebrated the IO, Question of Sport event this year, which raised its highest income ever, reaching £lOO,000. Fu ndraising conti nues to be challenging in a struggling economic environment, but we are fortunate to have a very loyal supporter base which continues to raise funds for the charity in a variety of ways for which we are extremely grateful. We have been encouraged by the participation in our new events and the ongoing support of these 121Page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THEYEAR ENDED 31 MARCH 2025 participants. The focu5 forthe year has been on continuing to build a strong stewardshipjourney for all supporter5 which is tailored to meet their expectations and reflect the support they have given. RETAIL &TRADING Like many UK charities. retail and trading has had a challenging year. We have seen the price paid for Recycled goods substantially reduced and warnings of price drops continue, threatened by market conditions. There is an ever-increasing trend for potential donors to sell on sites such as Ebay and Vi nted, before donating to charities, resulting in a decrease in good quality donations arriving for us to sell. We have responded to this by reviewing our logistics, ensuring our van runs move suitable stock to suitable shops," getting the right stock to the right place at the right time" to maximise sale income. The earlier introduction of defined shop types- ReLoved Boutiques, Community Hub shops and Revalued Outlet shops, means we can focus on having the right shop in the right place to meet its local community's choice and maximise sales in challenging trading conditions. Our ecommerce platform continues to grow, strongly supported by a team of volunteers, enabling us to identify items that we can reach increased prices for by selling in this way. The investment of introducing tablets into all shops to ensure seamless gift aid sign up ha5 been successful, resulting in increased gift aid claims. PEOPLE Our colleagues provide the skills, comrnitment, and passion for reaching and serving our community by 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. We continue to listen to employees, feedback via a listening tool called EVE (which uses Al powered conversations to ask qkjestions about working at Rennie Grove Peace) twice a year. From this, together with regular face to face line management conversations, we are making improvement5 to our colleague experience. The Executive Board and Leadership Team have been working together to decide where to focus our efforts. We onboarded 75 new employees during the year to enable the organisation to continue to provide specialist service5, generate income to fund our work and support our seNices. We completed the project to implement an Applicant Tracking Service IATSI to offer a smoother and more efficient process for applying for jobs and onboarding. Our pensions arrangement5 were streamlined following a comprehensive review by our pension advisors. Consultations were held with employees in legacy pensions schemes and over 60 employees were moved to Standard Life. A salary sacrifice scheme was introduced for eligible employee5 in the Standard Life pension scheme providing savings for the business and employees. A new appraisal proces5 has been developed based on performance ratings forthe 202512026 year with training For all line managers and employees rolled out. LEARNING & DEVELOPMENT The Learning and Development Team support our workforce across all areas of the charity. 131Page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Our new colleagues are onboarded with the support of the team who run a monthly organisational induction and a redesigned clinical induction to equip new clinical colleagues with the skills and competence to start their career with us. To support ongoing development in role and to focus on best practice, training needs were identified and content successfully piloted with programmes being available for the 2025 course offer in Special Palliative Care Update5, Clinical Skills (Nurses & Paramedics) and an HCA Development Prograrnme. Clinical competencies were developed in line with national guidance and internal review for competence and compliance within role. Clinical Protected Learning Time was introduced to support an ongoing learning culture with dedicated time set aside for clinical employees to focus on their professional development with an option to attend a facilitated training session or do personal development. Management and leadership development is being reviewed for a new offer in 2025-26 and part of this will be a Line Manager Toolkit. This is being developed to include a variety of knowledge resources i.e. videos, practical guides and policylprocedure links. Topic areas will include recruitment, managing employee relation5hip5, managing employee performance and managementofvolunteers. VOLUNTEERING We now have a combined volunteering force of around 1700 volunteers in more than 100 unique roles supporting every area of the charity. The Volunteer Engagement Group has been running since January 2024. meeting several times a year. It has staff and volunteer members from acr055 the charity and encourages open communication and involvement of volunteers across a range of issues. We have developed a volunteer recognition plan to ensure that our volunteers are recognised for the considerable support they provide to the organisation in patient facing and support roles. We have been consolidating the arrangements forthe delivery of ourcommunityvolunteering programme recently, with a review of the Compassionate Cafes and Support Hubs to identify the community need and what works best. We now have 88 volunteers in our Compassionate Communities seices. These include Compassionate Neighbours supporting community members in their own homes and to get out and about. other volunteers help at the Compassionate Cafesand Support Hubs. We also have7 EngagementAmbassadorsvolunteering in thecommunity, who helpwith engagement and awareness work. Our 50 Supporting Hands volunteers support our nurses by offering practical and emotional support to our patient5 in their own homes, and respite fortheir carer5. We have expanded this seNice into the Watford area. Volunteer5 in our Supportive Care team continued to deliver our vital Bereavement. listening and talking therapies. Complementary and wellbeing therapies. Volunteers continue to support children and young people affected by the illness andlor death of a farnily member through specialised counselling and sUPPOrt. We have worked closely with the Retail & Trading team and now have over 1000 volunteers across our 32 shops, working hard to raise the money we need to fund our service. In addition. there are 28 volunteers at our Ecommerce hu b in Berkhamsted, who aim to maximi5e the funds we receive from our donations. Other volunteers in our Retail Buying and Operation5 team help to keep donations flowing between our shops and supportthe maintenance team to make sure that our shops are safe environments to work in and visit. 141Page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Our large group of communityfundraisingvolunteers continue to support us with our flagship and local fundraising events. In Patient Services, we have volunteers working with patient5 and families across both Outpatient5 and Inpatient services with 44 volunteers sUPPOrting the IPU, and many others helping with wellbeing, exercise and transporting patients to and from their sessions. With our off ice-based teams, we have volunteers who keep everything working and our buildings pleasant places to be - gardeners, receptionists, facilities, finance, IT, governance, marketing, HR and volunteering and of course our Trustees. We continue to work across the organisation and externally, to promote the value that volunteering brings to the organisation, and the benefits of volunteering to each individual whojoins us. MARKETING This has been a successful year of 'test & measure, where we have gathered insights through channel and activity experimentation and used learnings to extend activity and further performance. Standout successes include over- achieved income targets workingcloselywith the Fundraisingteam. including Question ofsport, London Marathon, Chilterns Three Peaks Challenge, Strictly Come Hospice, Fund a Nurse 2025 and Trek Vietnam. Hospice UK led the nationwide TV campaign "This is Hospice Care. which we supported with our own patient storie5, email campaigns, social media and a joint local poster campaign with the Hospice of St Francis. Working closely with the Fundraising In-memory team, the campaign drove increased legacy interest and greater awareness of hospice care. In January. we ran a volunteer recruitment initiative that demonstrated the powerof cross-functional collaboration workingwith the Volunteering, Compassionate Communities and Supporting Hands teams. Working with the Retail team, we supported Preloved Fashion Shows in StAlbans, Beaconsfield and Tring, a5 well as Sustainable September and training at the Retail Conference in April. Our Community Engagement and Compassionate Communities initiatives have expanded this year with over 1,500 interactions through popular new locations for our Support Hubs, initiatives such as Compa55ionART Cafés and No Barriers Here workshops, facilitated with Marie Curie. We have trained 50 new Compassionate Neighbours. helping us grow locally in both impact and relevance during early stages of illness as well as offering 5UPPOrt during bereavement. Winning Community Champion Silver Award in the Inspiring Herts Awards, was a real highlight for theteam. Our PR process, digital advertising, donation platform, use of Google Grant and social media channels have all developed significantly through a mixture of brief clarity, in-house upskilling, and external support. New look patient-facing materials including Bereavement Guides, Bedside Information and updated introductions to each service have helped significantly when explaining support available to everyone affected by 3 progressive life- limiting diagnosis. Looking ahead. our marketing focu5 is now on embedding the new strategy and updating our brand messaging, refreshing our retail areas and grounding hospice care messaging and campaigns in research, to ensure all our services are understood 3nd that we are meeting the needs of our local community. 1SIPage
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THEYEAR ENDED 31 MARCH 2025 LINKSWITH COMMISSIONING BODIES The Clinical Leadership Team ICLTI continues to develop links with the commissioning bodies acr055 both Herts and West Essex IHWEI and Buckinghamshire, Oxfordshire & Berkshire West IBOBI Integrated Care Systems. In addition, they maintain our relationships with the Rennie Grove Peace contract holders in both areas (Central London Community Healthcare ICLCHI Trust in Hertfordshire and BOB Integrated Care Board in Buckingham5hirel. CLT regularly attends the Specialist Palliative Care forums in both areas to develop and maintain Rennie Grove Peace's influence in the external strategic direction of specialist palliative care services. The CLT continue to explore new opportunities to attract statutory funding to Rennie Grove Peace in order to develop setvices. PERFORMANCE AGAINST STRATEGIC PLANS 2024-25 wa5 a year when we prepared the EB and Leadership Team ILTI to create the environment in which we began improvements following our merger-based activity. The focus was creating and embedding Rennie Grove Peace as its own organisation with the colleague base. of staff and volunteers. working more closely togetheracross our estate. A particular internal focus was the development of culture, by respondingto colleagues, views about what it is like to work in the Charity. We started the year by identifying themes to help us address improvement. Cross directorate project teams, sponsored by Executive Board. delivered several projects including the creation of Renrlie Grove Peace'svalues. The Values included work across our colleague and volunteerworkforce ensuringcross organisation understanding. Ourvalues are.. Compassionate- Care at the centre of everything we do Collaborative- Working with others to get the best outcome every time Supportive- Looking after everyone around us Inclusive- Building an organisation where everyone feels welcome and valLted A Rennie Grove Peace Quality Account was produced to summarise the early impact of the Charity, and it can be found on our website, www.renniegrovepeace.org. OUR PLANS Future challenges There is no doubt that the UK hospice sector is currently experiencing challenging times. Against a backdrop of increasingcosts. a tough economic climate foroursupporters and a national shortage of staff, we are now preparing for significant growth in demand for our services, but with reduced statutory funding. The population is aging, the death rate increasing and progressive life-limiting illness is becoming more complex. Our strategy for2025-28 sets out our ambitious but achievable plansto ensure our core services are securely funded, our care meets changing local need5 and our team5 are operationally able to meet growing demand. Our future sustainability as a hospice care provider. and our ability to deliver excellent patient care within Buckinghamshire and Hertfordshire. depend5 On: Leading the right people with the right skills to meet our patients. needs streamlined operational efficiencies and processes Secu re and planned funding A new data-driven approach to all our decision making, and An empowered and motivated workforce 161Page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 We are fully committed to providing excellent palliative and end of life care, free of charge, to all those who need it in our community. now and in the future. Meetinggrowing patientdemand Accordingto Hospice UK, the UK is facing a turning point. The death rate is expected to increase in the next 20 years. By 2040, around 130,000 more people in the UK will die each year. than deaths recorded in 2023. In our defined catchment area, we are commissioned to support 59 GP surgeries. We serve a local population of 797,037 of whom 75% live in Hertfordshire and 2596 in Buckinghamshire. It is estimated that 10/0 of this population will die each year. with 75¥0 of those needing palliative or end of life care. Supporting more patients usng data estimated from the Macmillan Virtual Ward Project for patients in last year of life in West Hertfordshire, for 2025-26 it is estimated that there will be 5,989 palliative care deaths in our area, with the following requirements.. 46%12,7451 will die in hospital 54%13,2441 will die outside of hospital, eligible for local hospice care Understanding changing patient needs Our own patient data shows us that increasingly individuals prefer to be supported in their own homes, surrounded by their belongings and the people they love. This may be in a care home. or a relative's home. Healthcare and social care insight shows that living with a progressive life-limiting illness is also becoming more complex. Individuals may receive multiple diagnose5, known as comorbidities. which can present different care challenges and specialist knowledge requirements. The key to Rennie Grove Peace being able to understand and support changing patient needs is for patients to be referred into hospice care much earlier in diagnosis. Together we can help both the patient and those around them to understand their diagnosis. This will help us empower individuals to live well with their illness and embrace the time they have left. Strategic shift towards patient support earlier in diagnosis We are currentlywell known for palliative and end of life care. Our strategic shift for 2025-28 is to encourage patients and their families to access our care much earlier in diagnosis, so that they can benefit from more support, and we can help them plan to live well. The recent H05pice UK awareness campaign talked about'learning to embrace the time we have left, and this is our goal with more emphasis on Early Support and Living Well. In 2024-25 the split of patients supported by phase of illness was as follows: 65% Dying Well.. cu rrent local need is mainly end of life care 210/0 Living Well.. opportunity to encourage earlier use of our seNices 13% Bereavement: opportunityto offermore 5UPPOrt to those affected 1% Early Support: through our volunteer-led activities We plan to build on the current Early Support opportunities in the community, where we host Compassionate Cafes, including our new CompassionART Cafes. Support Hubs and provide one-to-one Compassionate Neighbour support. As each activity can be planned around the local need, and is led by ourteam of trained volunteers, more individuals in need of support can discover access to free local hospice care earlier in diagnosis. We provide acce55ible support 171Page
RENNIEGROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THEYEAR ENDED 31 MARCH 2025 and wellbeing services, offer volunteer- led companionship. as well as community-based drop-in bereavement SUPPOrt to all who need it. Celebrating excellent patient care With streamlined processes and ensuring we have the right people with the right skills deliveringexcellent care, our organisation will be able to meet this growing demand and continue to receive feedback we can be proud of. We will actively seek feedback around experiences of our patient care, our charity shops, our events and activities. This will help us identify the impact we are delivering, any areas for improvement and encourage both our teams and our local community to be proud of the care we deliver. Ensuringwe are here to serve our localcommunity Sustaining our own future is critical to being able to meet the ongoing palliative and end of life care needs of the community. Our 2025-28 strategy is therefore planned around building a solid organisation, to ensure local hospice care is available for all, for now, forever. In 2024-25, a total of £2.5m, just 14% of our income, came from statutory funding within Buckinghamshire and Hertfordshire. Our catchment area was reduced for community services in Buckinghamshire, and we decided to stop offering Children'5 services and NHS Talking Therapies, as there are other providers of these in our local area. The remaining 86% of our income. a total of £15.Im was provided thanks to the generous support of our local community and funded activities. Maintaining this level of support and encouraging more local involvement will be key to our ongoing success. Supporter activities and engagement and a more efficient retail and trading portfolio will be key to building revenue. In 2025-28, we plan to secure additional healthcare funding opportunities, such as local investment in frailty 5UPPOrt, as well as focusing on improving overall cost efficiency across our whole organi5ation. COLLABORATION In Hertfordshire, Rennie Grove Peace works through a Memorandum of Understanding with the other four hospice providers who deliver services to the adult population of the county. Each organisation ha5 the ambition for the very best palliative end of life care and has decided to work together to create 'one voice" a formal h05pice collaboration. In Buckinghamshire, Rennie Grove Peace will continue to develop its working relationships with Buckinghamshire Healthcare NHS Trust's Florence Nightingale Hospice, and its a550ciated charity, as well as with South Bucks Hospice (Butterfly House). Rennie Grove Peace worked closely with The Pepper Foundation who raise fund5 for hospice at home setvices to children and their families. We ceased providing clinical services to children with life limiting illnesses on 31 March 2025. The Pepper Foundation have supported Rennie Grove Peace for the last 30 years and we are enormously grateful to them fortheir continued support. We know that The Pepper Foundation will continue to fund h05pice at home setvices through other providers and we will continue to work collaboratively with them, where possible, 50 that they are able to achieve their mission. As part of the 2417 nursing Service, Rennie Grove Peace works in collaboration with The Hospice of St Francis to provide care during the nights to anyone receiving their other services. 181page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 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 Board has reviewed the appetite for risk and risk tolerance. The Risk & Audit Committee monitors risk management processes, reviews key risks and mitigating actions, and supports and advises the Board on risk matters. The EB ratifies and implements risk management policies. All risks have identified controls and mitigating actions in place which are closely monitored by EB monthly and by Board committees every quarter with escalation to the Board if required. 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: Rlsk Area Failure to give robust a55urances 3g3inst the Key Lines of Enquiry that demonstrate the delivery ol appropriate standard5 of care to our patients. Potential Impact May result in lower Care Quality Commission ICQCI rating5. Ios5 of reputstion, loss ol Integrated Care Systems Ilcsiicentral London Cornmunity Health ICLCHI fundIg and an increase in cornplairits Mitigation$ Ensure our repository ol evidence is updated with evidence that standards are met. Intemal Governance proces5e5 in place lincluding audit s£heduleg, mandatory training forernployee5, incident reporting process, monthly internal clinical governance meetings and quarterly Trustee Clinical Governance Cornmittee meeting51. Keeping the Awareness of CQC inspections acr055 the or anisation A Safe Staffing fflatrix and process is in place to identify il staffing becomes unsafe Improved Recruitment & Retention process- 3. Im roved Induction and Trainin ro ramrne Drive lorgreater efficiency. Leadership committed to introduce enhanced way50f working. including greater utili5ation of technology and digital PTOCe5ses to provide opportunitieslorcost savings in the Charity. Drive lor increased incoffle by realigned fundraising activities. 5UPPOrted by enhanced management information.. regular and detailed review5 of the performanceof individual shop5. regularcontact with commissioners to allow the value ol the service provided bythe Charity to be fully understood. CollaboratlOll5 Wlth other hospices to identify opportunities to share re50urce5 and provide joint services. Asset Base of the Charity includesfixed assets which could be monetised to provide substsntial booststo fund5. Board and Executive 803rd, through financial report5 and targets, monitorthe financial position of the Charity. This enables early identification of adverse income orexpenditure trends Failure to recruit andlor retain sufficient staff and volunteerswithin Patient Services with the reqUId skills and talent. In line bvith the experience5 and prospects ol rnany charities in the health sector, that the Charity experiences significant and repeated financial deficits. due to-. al an inability to exploitsufficient lundraisingopportunities. to expand retail contribution, and to secure adequate COmrn15sioning income,. andlor bl inflationary cost increases which produce a significant and lengthy diminution of funds. Increased risk olthe charity being unableto deliverthe full service and level of c3re that we can provide if fully Staffed. That the financizl 5U5tainability of the Charity is significantly eakened. Need to impose cost-saving measure5 or reduce service areas, potentiallythrough staff reductions. This would limit the Charity's ability to provide a consistent service, thu5 not meeting patient, supporters, employee, orcomrni5sioner5' requirement5. 191page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 FINANCIAL REVIEW As a result of the merger of Rennie Grove Hospice Care I'RG") and Peace Hospice Care I'PH") in 2023, the core operations of the Group, previously carried out by RG or PH, have been transferred to Rennie Grove Peace. This process of transferring operation5 began during 2024 and has largely been completed in 2025. Certain assets owned by RG and PH on the date of the merger remain under the legal ownership of these entities. This includes fixed asset5, investment property Isold in 20251 and individual company 5hare5 (Hospice Lottery Partnership and Nurses Cottage Trust). Shop leases also remain in RG and PH until the leases are renewed, and the lease agreement 15 changed to Rennie Grove Peace. Cash generated from the activities remaining in RG and PH. including the Sale of assets, will be donated to Rennie Grove Peace on an ongoing basis. Restricted and designated funds held by RG and PH that will be spent by Rennie Grove Peace have been transferred to Rennie Grove Peace following approval by the Trustees. The comments below relate to the consolidated financial results of the Group. Rennie Grove Peace recorded a deficit of £0.2 million for the year to 31 March 202512024.. surplus of £O.I million). Total income for the year was £17.6 million which is a 4% reduction on 2024's total income of £18.3 million. Below is a comparative analysis of the components of total income. Legacy income dropped to £2.5 million following a particularly successful year for legacy donations in 2024 which totalled £3.9 million. The Size and timing of legacy income is unpredictable, and the Trustees consider that the amount of legacies in 2025 represents a more "normal" ongoing level. Donation income remained constant at £2.9 million12024: £2.9 million). The fundraising environment has continued to be challenging within donations and appeals. however, we have benefited from strong support from major donor5 and trusts. Income from Charitable Activities remained constant at £5.5 million12024: £5.5 million). This includes funding from Herts and Bucks ICBS to deliver our adult services of £2.5 million12024= £2.6 million) and funding for our Rapid Personalised Care Service of £2.5 million12024.' £2.3 million) which provides expanded care to adults extending both the time and Services offered. Also included is income from the Pepper Foundation/NHS England of £0.2 million 12024.. £0.4 million) which is restricted funding for children and young person's services. Other charitable income of £0.3 million12024: £0.2 million) primarily consists of funding for bereavement and counselling services. We have continued to be supported by our local community and achieved £0.8 million in income from our events, a 33Wo increase from the prior year12024.. £0.6 million). We are encouraged by the return of participant5 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 retail trading of £4.5 million was £O.Im up on the prior year12024: £4.4 million). We generated £3.6 m illion12024: £3.5 million) from our shops, £0.3 million12024: £0.3 million) from on-line sales, £O.I million12024: £0.2 million) from the sale of recycled goods and £0.3 million12024: £0.3 million) of gift aid. We closed 2 shops in 2025 butthe lost sales from these shop5 in 2025 were offset by the openi ng of 2 new shops in13te 2024. We also saw a continued shift in income to our Revalued Outlet Shops as our customers continue to seek value in their purchasing. We continue to be supported by the Hospice Lottery Partnership IHLPI and Local Hospice Lottery ILHLI who made charitable donations to Group companies of £0.6 million12024- £0.6 million) in lottery income. 20Ipage
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THEYEARENDED 31 MARCH 2025 RGP received £279k from the Department for Health & Social Care IDHSC} via Hospice UK who negotiate for capital funding to support hospices. This grant is included in Other income, as restricted. Rennie Grove Peace earned £0.5 million of interest on ourcash balances12024.. £0.3 million) which is approximately 4Wo return. Total expenditure of £19.4 million was 4% percent higher than the prior year total expenditure of £18.6 million. Inflation pose5 challenges for charities. and the specific inflationary pressures in the health sector produce particular challenges for Rennie Grove Peace given the significant proportion of our cost base which is accounted for by staff costs. The shortage of qualified staff ha5 forced Rennie Grove Peace to offer salaries and contracts with our agency staff that are competitive with that of the NHS. Our staff costs increased to £12.7 million from £11.6 million in 2024 resulting from an average 5% increase in salaries, a 12% increase in the minimum living wage and increases due to 'incremental" pay rises tied to length of service. performance promotions and upskilling when hiring new staff. Retail margins also continue to be under pressure from wage increases and the impact of i nflation resulting in increases to rent, utility costs and other facility costs. Our 2025 results greatly benefited from the sale of an investment propety that was received as a legacy donation in 2023. We received net proceeds of £2.5 million for the property valued at £l.I million at 31 March 2024, which resulted in a gain on the sale of the investment property of £1.4rn. Financial markets were volatile during the year. Gains following the inauguration of a new American President in January were followed by large falls in the world financial markets in February and March due to fears that tariffs could spark recessions as other countries reacted to the measures. Rennie Grove Peace investments are invested in the Barclays Charity Fund which 15 a fund that seeks to provide income and capital growth and is mainly invested in equities, bonds and associated funds which produced net gain of £0.2 million in 2024 compared with a net gain of £0.4 million in 2024. Our General reserve increased to £19.7 million at 31 March 2025 from £17.8 million in 2024. a £1.9 million increase, thus giving us confidence that the financial position of the Group is sound. The increase is comprised of the transfer of the Investment Property Fund surplu5 of £1.12 mi Ilion following the sale of this property. the release of the Strategic initiatives fund of £0.5 million no longer required and the reduction in the Capital fund by £0.2 million in line with the capital expenditure plan. This increase was offset in part bythe 2025 deficit and the allocation offunds to finance fixed assets totalling £O.I million. The Trustee5 place importance in maintaining a high degree of liquidity in the balance sheet. Cash balances at 31 March 2025 totalled £12.2 million compared with £10.5 million in 2024. The Group's financial assets policie5 require sufficient cash to be immediately accessible to meet 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 Peace's balance sheet, underpinned by a satisfactory General reseNe and adequate liquidity. satisfies the Trustees that the financial position of the Group remains sound. However, the Trustees are fully aware of the difficult economic environment and recognise that the risk of future operating deficits is substantial. The Trustees will continue to monitor the current and prospective financial position of the Chairty. In reviewing the internal financial controls of the Charity, the Trustees have referred to the Charity Commission's guidance "Internal Financial ControLs for Charities. ICC81 and have concluded that our internal financial controls are sound. FUNDS Rennie Grove Peace's Funds finance the resources available to the Trustees to use in the Group's operations. Funds are classified as Unrestricted or Restricted. 211Page
RENNIE GROVE PEACE HOSPICECARE TRUSTEES, REPORT FOR THE YEAR ENDEO 31 MARCH 2025 Unrestricted Funds Unrestricted Funds are resources available to the Trustees to spend at their discretion in furtherance of the Group's objectives. General reserve The General resenje is the unrestritted available funds after designating funds to known or expected projects expected to be carried out over the short or medium term. At 31 March 2025, the General reserve totalled £19.7 million12024: £17.8 million) The General resetve is held to ensure the continued financial sustainability of Rennie Grove Peace and to give the Group the ability to react to unexpected changes, especially reduction5 in fundraising and retail income and increases in expenditure requirements. The appropriate amount of the General resetve 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 resovrces in furtherance of the Group's objectives. In view of the complexities and extent of RenF)ie Grove Peace's operations, and the uncertain economic and 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 reSee 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 determiningthe 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 reserve 15 represented by liquid assets. Taking account ofthe matters above, the Trustees have determined that the appropriate target is for the General rese¢ve to represent 9 to 12 months of budgeted operational expenditure. At31 March 2025, the General reserve was within the target range. The Trustees recognise, with the difficult income generation and expenditure environment (which may result in a net loss in 20261, there is a short-term risk that the level of the General reseNe will fall below the medium-term target. This Situation will be monitored in 2025-26 by the Trustees. Accumulatedprofits of subsidiory The Accumulated profits of subsidiary of £59k at 31 March 202512024.. £59kl represents the Capital and reserves of lai n Rennie Hospice Services Limited, a private limited company whose ultimate parent company is Rennie Grove Peace. Designated funds The Trustees have designated certain Unrestricted 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 excessively, funded. The following Designated unrestricted funds, totalling £3.0 million, are specified at 31 March 2025: Propety fund. Funds attributable to property assets le.g. land and buildings) employed in Rennie Grove Peace's operations. £1.8 million. Capital programme5 fund. Capital projects identified for the strategic planning period. £0.8 million. Fixed asset fund. Finances non property tangible fixed assets. £0.3 million. 221page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 202S Designated unrestricted funds at 31 March 2024 totalled £4.9 million Restricted Funds Restricted fund5 are subject to specific requirements defined by donors and will only be expended in accordance with those requirements. The principal Restricted funds, totalling £4 million. at 31 March 2025 were-. Property fund. This is represented by the net book value of the Gillian King House and Grove House buildings. £2.5 million. Hospice UK Funding. To expand 2417 nursing services. £O.I million. Nurses Cottage Fund. To fund the care of patients in the Great Missenden and Prestwood areas. £0.2 million. Department of Health grant. To improve facilities at Peace Hospice. £0.6 million. Shaw Charitable Trust. To enable the enhancement of key IT systems. £O.I million. Hospice UK Grants. Grants received for collaborative projects with other Hospices £0.2million. Other Re5tritted Funds £0.2 million. Restricted funds at 31 March 2024 totalled £4.1 million. GOING CONCERN The 2023 merger of RG and PH brought together two established and financially sound charities. In implementing the merger of the two charities, the Trustees placed a high priority on building on these sound financial positions, and retaining financial sustainability continues to be a key aim of the Trustees. The consolidated balance sheet of Rennie Grove Peace at 31 March 2025 is considered by the Trustees to be sound. In particular- The level of unrestricted designated funds, at E3.0 million, and the General Resee, at £19.7 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 or grants. Rennie Grove Peace has no long-term borrowing obligations. The Board and Board committees regularly review the financial p051tion of Rennie Grove Peace and its subsidiaries. The risk management framework includes monitoring of financial and other risks, policies for fund5 and the General resetve, and a process of preparing and reviewing cash flow and financial assets positions is in place. The Group has a track record of financial resilience, flexibility, and adaptability. In 2025, we worked hard to combine policies, procedures and processes of RG and PH so that efficiencie5 in the future can be achieved. Whilst recognising the challenges to our income generation and the cost base of Rennie Grove Peace arisingfrom growing patient numbers and the current economic environment (which could produce furtheroperatingdeficits in the near future). the Trustees are confident that the existing financial strength of Rennie Grove Peace means that our ability to meet our operational responsibilitie5 is unchanged. The Trustees have concluded, following reviews of the financial position and future plans of the Group, that the are no material uncertainties that would cast doubts on Rennie Grove Peace's ability to continue its activities for at 231Page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 least the next 12 months. Accordingly, it is appropriate to employ the going concern concept in the Consolidated Financial Statements. INVESTMENTS AND INVESTMENT POLICY To provide confidence in the medium-term financial sustainability of Rennie Grove Peace, and to provide protection against future unexpected income or expenditure events, Rennie Grove Peace holds financial assets 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-seeking investment portfolios with the aspiration that the assets produce retu rns in excess 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 Peace utilise5 a regulated investment advisor to advise on the method, type and amount of holdings. Rennie Grove Peace has developed Financial A55ets Policies which, amongst other matter5, describe the objectives and constraints of the investment portfolios, the expected risklreturn characteristics of the investment portfolios, the requirements of investment advisors, and governance arrangements. Assets are mainly held as units in the Barclays Charity Fund and totalled £6.5 million at 31 March 202512024: total £6.3 million with Barclays Charity Fund). The overall risklreturn profile 15 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 performance and to assess whether the investment portfolios continue to meet the Trustees, objectives. STATEMENTON FUNDRAISING Rennie Grove Peace is committed to ensuring its fundraising activity remains open, transparent and accountable. We respect the privacy of our supporters and donors, and adhere to GDPR regulation, seeking opt-in permission to contact by ernail or telephone and giving supporters the opportunity to refine their contact preferences. We welcome feedback. Rennie Grove Peace, RG and PH are all registered with the Fundraising Regulator and committed to the Fundraising Promise and adherence to the Code of Fundraising Practice and are signed up to the Fu ndraising Preference Service, enabling supporters to opt-out from receiving fundraising communications. In 2024-25 Rennie Grove Peace received no complaints that required reporting. 241Page
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 STATEMENTON ENERGY AND CARBON REPORTING Rennie Grove Peace recognises the importance of makinga full and lastingcommitmentto reducingthe greenhouse gas emissions from our activities, in support of the wider commitment of the world to limit global temperature increases and the impact on the planet. This is the second year of reporting as Rennie Grove Peace and therefore we can now see our first year on year comparison in our performance towards our reduction target. We note that between our comparison with last year this year's energy audit is more accurate in terms of energy used as it includes a full year of energy consumption at our Peace Hospice building. In addition, we recognise that the key metric is the emissions per employee intensity which has moved only minimally from last year. Post merger our employee numbers have increased and on a carbon per employee basis the increase is, again. only slight. 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 target 3 500k reduction in emissions by 2030. To set realistlc short- and long-term targets that are designed to achieve OL¢r Net Zero commitments. To report the total Greenhouse Gas emissions of our business. at a minimum, on an annual basis. Year Eatlleryear if P055ibl• Commltmentto bè NètZ•ro 5086 Ern15$1ons Redurtlon *ln line with NHS 01MentS 2050 2030 2045. Emlssions Data The data contained in the table below represents emi55ions calculated and consistent with SECR requirements. Previous Year" Current 2023-2024 Reporting Year 2024-2025 261,660 Energy consumption used to calculate emissions Electricity Scope 2- UK and offshore Ikwhl Energy con5uinption used to calculate emissions Offshore Ikwhl 323,397 Global, excluding UK and NIA NIA Basis of Energy reporting ILocation c>r Market), Market Location of total energy sourced from certified renewable source5 12.2% Emissions associated with energy Consumption- UK, Offshore and Global ItC02el 58.9 54.2 Emissions from activities for which the company is responsible including combustion ol fuel and operation of facilities- Scope I Itco el 22.6 106.9
Emissions from purchase of electricity, heat, steam and cooling purchased lor own use- S¢op¢ 2- ItCO.el 58.9 54.2 Total Scope l and 2 Emlssions ItCO.el 81.5 161.1 Emissions from upstrearn activities out of operational control- Scope 3 ItCO,el 194.3 210.8 Emissions from use ofsold products and services outoloperational control- Scop• 3 ItCO2el None includèd None included 25IPage
RENNIE GROVE PEACE HOSPICE CARE TRUSTEES, REPORT FOR THEYEAR ENDED31MARCH2025 Previous Year, 2023-2024 Current Reporting Year 2024-2025 Total Gross Scope 3 ErnissionsltCO2el 194.3 210.8 Total Scope 1, 2 and 3 Emissions ItCO2el 275.8 352.3 Intensity ratio ItCO,el (gro55 Scope 1, 2 and 31 per employee Carbon offsets ItCO2el Total Annual Net Emissions ItCO2el 275.8 371.8 'RennieGrove H05piceCareand PeaceHospice Care merged in January2023. 2Q23-2024 data include5threemonthsol RennieGrove Hospice Care onlyand nine tnonths olthe Rennie Grove Peace Group. ' A location-based method reflectstheaverage emi55iOnS intensity ofgridson which energyconsumption occurs (using mostly grid-average emission factor datal. A rnarket-based method rellectsemissions from electricity that companies have purposefullychosen. Gas reading5 lor 2024-2025 reflect the recent energy audit data. 2023-2024 dats was provided by meter readings and estimates and are likely to be understated. Carbon Reduction Actions Rennie Grove Peace will develop the following initiatives that will supportthe company's strategies to meet Science Based Targets.. The company has committed to thefollowing.. Area of Focus Inltiatlve i Energy Audit r•duction An energy auditwas carried out in March 2025 across the entire estate and Actloft Plan has made recommendations, including immediate actions to reduce energy consumption and other actions that may require investment and longer-term actions. These will be reviewed by the Executive Board and actions will be put in place accordingly. We have engaged with ourteams to improve our understandingof actions and how these can reduce energy usage and emissions. A full strategy will I be developed in 2025-2026 and we are looking to create a "Green Team" across the Charity. We have worked to improve data gathering across our shops, estate and will include thi5 data in our report from 2025-2026 onwards. Staff Engagement Data Gatherlnz Rennie Grove Peace has: Rolled out a programme for replacement of existing lighting with LED lighting at both Grove House & Peace Hospice Replaced existing boilers at both Grove House and Peace Hospice sites with condensing boilers which are more energy efficient. Undertaken a full energy audit of our entire Property portfolio that will inform our Energy Strategy for the next five years. 261Page
RENNIE GROVE PEACE HOSPICECARE TRUSTEES, REPORT FOR THEYEARENDED31 MARCH2025 STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees, who are also directors of Rennie Grove Peace Hospice Care for the purposes of company law, are responsible for preparing the Trustees, Report and the Financial Statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Board of Trustees to prepare financial Statements for each financial year, which give a true and fair view of the state of affairs of the company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements, the Board of Trustees is required to'.- Select suitable accounting policies and then apply them consistently Observe the methods and principles in the Charities SORP Make judgements and estimates that are reasonable and prudent State whether UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The Board of Trustees is responsible for keeping proper accounting records. which disclose, with reasonable accuracy at any time, the financial position of the charitable company and enable it to ensure that the financial statements comply with the Companies Act 2006. It is also responsible for safeguarding the asset5 of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as each Trustee is aware.. There is no relevant audit information of which the charitable company's auditor is unaware,. and The Trustees have each taken all Steps that they ought to have taken to make themselves aware of 3ny relevant audit information and to establish that the auditor is aware of that information. AUDITORS The Charity Auditors haysmacintyre LLP changed their name to Haysmac LLP on 18 November 2024. Haysmac LLP have been appointed by the Trustees as auditors and have signified their willingness to continue in office. Thisre ort wa5 approved by the Trustees on 31 July 2025 and signed on behalf of the Board by.. hindler Chair 271Page
RENNIE GROVE PEACE HOscE CARE INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Opinion We have audited the financial statements of Rennie Grove Peace H05pice Care for the year ended 31 March 2025 which comprise the Con501idated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the group's and of the parent charitable company's affairs as at 31 March 2025 and of the Group's net movement in funds, including the income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. 8asis foropinion We conducted ouraudit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial Statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our otherethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusion5 relating to going concern In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast Significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections ofthis report. Otherlnformotion The Trustees are responsible for the other information. The other information comprises the information included in the Trustees, Report and the Financial Review. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed. we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in thi5 regard. 281Page
RENNIE GROVE PEACE HOSPICE CARE INDEPENDENT AUDITOR'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Opinions on othermattersprescribedby the ComponiesArt2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report (which includes the strategic report and the directors, report prepared for the purposes of company lawl for the financial year for which the financial statements are prepared is consistent with the financial statements. and the strategic report and the directors, report included within the Trustees, Report have been prepared in accordance with applicable legal requirement5. Motters on which we are requiredto report byexception In the light of the knowledge and understanding of the Group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Annual Report (which incorporates the Strategic report and the directors, report). We have nothing to report in respect of the following matters in relation to which the Companies Art 2006 require5 us to report to you if, in our opinion: adequate accounting records have not been kept by the parent charitable company. or the parent charitable company financial statements are not in agreement with the accounting records and returns,. or certain disclosures of Trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit Responsibilities of Trustees for the finoncialstotements As explained more fully in the Trustees, responsibilities statement (set out on page 271, the Trustees Iwho are a150 the directors of the charitable company forthe purposes of company lawl are responsible forthe preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial Statements that are free from material mi55tatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do 50. Auditor's responsibilities for the ouditolthe financia15tatements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISA5 IUKI will always detect a material mi55tatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken based on these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and gUlatiOns. We design procedures in line with our responsibilities, outlined above, to detect material mi55tatements in respect of irregularities. including fraud. The extent to which our procedure5 are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the group and the environment in which it operates, we identified the principal risks of non-compliance with law5 and regulations related to the CharitiesAct 2011, Companies Act 2006. the Fundraising Regulator and Care Quality Commission ICQCI. and we considered the extent to which non-compliar)ce might have a material effect on the financial statements. We also considered those laws and regulations that have a direct 291Page
RENNIE GROVE PEACE HOSPICE CARE INDEPENDENT AUDOR.5 REPORT FOR THE YEAR ENDED 31 MARCH 2025 impact on the preparation of the financial statements such as the Companies Act 2006, Charities Act 2011, FRSIO2, Charities Statement of Recommended Practice ISORPI and payroll tax. We evaluated management's incentives and opportunities for fraudulent manipulation of the f1nancial statements (including the risk of override of controls), and determined that the principal risks were related to posting of inappropriate journal entries and management bias in certain accounting estimates Audit procedures performed by the engagement team included: Inspecting correspondence with regulators and tax authorities. Discussions with management including consideration of known orsuspected instances of non-compliance with laws and regulation and fraud. Evaluating management's controls designed to prevent and detect irregularities. Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions. and Challenging assumptions and judgements made by management in their critical accounting estimates Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, includingthose leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment. forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uklauditorsresponsibilities. This description forms part ofour auditor's reporL Use of ourreport This report is made solely to the charitable company's members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work h35 been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work. for this report, or for the opinions we haveformed. c£8* Kathryn Burton (Senior Statutory Auditor) For and on behalf of Hay5Mac LLP, Statutory Auditor 10 Queen Street Place London EC4R IAG Date: 7th August 2025 30IPage
RENNIE GROVE PEACE HOSPICE CARE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {Incorpor•tlnith• Incom• and Expendltur•A¢countl FOR THE YEAR ENDED 31 MARCH 2025 Unr•strirted funds £'ooo R•itrlet•d funds £'ooo 2025 Totsl £'ooo 2024 Tot•1 £'ooo Not•1 INCOME: Donations and legacie5 Charitable activities othertrading activities other income Interest receivable 5,133 5,371 5,260 646 465 267 171 5,400 5,542 5,261 938 474 6.752 5.528 5,007 659 331 292 Total Infom• 16.875 740 17,615 18,277 EXPENDITURE: Raising ftjnds Charitable activities 6.765 11.636 72 6,837 12,580 6,468 12,131 Total expendltur• 18.401 1,016 19,417 18,599 Net gainlllossl on investment property Net gaSnllloss1 on investments 13 1,399 1.399 1301 14 195 191 420 Net Incom•llloMI 68 12851 12171 Transfers between funds 19 11451 145 N•t movement In fund¥: 19 1771 11401 12171 68 FLtnds at beginningof year 22,767 4,129 26,896 26,828 Funds at end ofyear 22,690 3.989 26,679 26,896 The notes on pages 34 to 56 form part of these financial statements. The Con501idated Statement of Financlal Activities includes all galns and10sses recognlsed in the year. All amounts derive frorn continuing artivities. Full comparative figu5 for the year ended 31 March 2024 are shown In note 25. 311Page
RENNIE GROVE PEACE HOSPICE CARE CONSOLIDATED AND CHARITY 8ALANCE SHEETS ASAT31MARCH2025 Company number 14355610 Group Charity 2025 £'ooo 2024 £'ooo 2025 £'ooo 2024 £'ooo Not•s FIXED ASSETS Tangible fixed assets Investment property Investments 12 13 14 5,271 5,290 1,120 6,803 141 6,971 6,494 6,314 12,242 13,213 6,635 6,378 CURRENT ASSETS Stock Debtors Cash at bank and in hand 15 16 67 3,743 12,198 97 4,823 10,484 3,329 11,496 2,298 8,644 16.008 15,404 14,825 10,942 CURRENT LIABILITIES CREDITORS: amounts falling due wlthin one year 17 11,5711 11,7211 11,3651 11,3201 NET CURRENT ASSETS 14,437 13,683 13,460 9,622 NET ASSETS 26,679 26,896 20,095 16,000 FUNDS UNRESTRICTED FUNDS General reserve Other general fund Designated funds 19 19,658 59 2,973 17,804 59 4,904 18,480 14,328 941 1,564 TOTALUNRESTRICTED FUNDS 19 22,690 22,767 19,421 15,892 RESTRICTED FUNDS 19 3,989 4,129 674 108 TOTALFUNDS 20 26,679 26,896 20,095 16,000 The notes on pages 34 to 56 form part of these financial statements. The financial statement5 were approved and authorised lor issue by the Board ol Trustees on 31 July 2025 and were signed on its beh If by.. Dr Jere in ler (Chairl Wroe (Trusteel 321Page
RENNIE GROVE PEACE HOSPICE CARE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 Notes 2025 2024 £'ooo C•sh flows from operatlng ctlvltleg 24 11.0391 700 Cash Ilows from Investlngactlvities Interest received Purchase of tangiblefixed assets Fixed asset disposals Purchase of investments Proceeds from sale of investment property Proceeds from sale of investments 474 12791 21 331 11961 16 12,6931 2,519 18 2,717 C•sh provid•d byllus•d Inl inv•stlni artlvltles 2.753 175 Incr•s• Id•crea$el in cash and Cash equlvalents In th• ye*r 1.714 875 Cash and cash equivalents atthe beginningof the year 10,484 9,609 TOTAL CASH AND CASH EQUIVALENTS ATTHE EMD OF THE YEAR 12,198 10,484 The notes on pages 34 to 56 form partof these financial ststements. Cash at bank at31 March 2025 Includes£2.6m of fixed tenn deposits with mabjrity in excess of3 rnonths12024.. Énill. There was no net debt at 31 March 202512024: £nill. 331Page
RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 I. ACCOUNTING POLICIES In these financial statements"Rennie Grove Peace" and'the Charity" refers to Rennie Grove Peace Hospice Care,"the Group" refers to the Charity and its subsidiaries. References to 2025 refer to the year ended 31 March 2025 and references to 2024 to the year ended 31 March 2024. Ba$1$ of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS L021 (effective l January 20151- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic ol Irel3n(J IFRS 1021 and the Companies Act 2006. Rennie Grove Peace meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical c05t or transaction value unless Otherwise stated in the relevant accounting policy notelsl. The presentation currency is pounds sterling. Certain prior year amounts have been reclassified for consistency with the current year presentation. Business combination The Charity was formed on 14 September 2022 to bring together the activities of Rennie Grove Hospice Care I'RG") and Peace Hospice Carè I'PH") underthe control of a Trustee board comprising trustees of both charities. On 25 January 2023, the Charity acquired ownership of these two entities for £nil consideration. Company ststus The Charity is a private company limited by guarantee without Share capital, incorporated in England and Wale5 (company number.. 143556101 and a charity registered in England and Wale5 Icharity number.. 12017131. The Charity's registered addre55 15 Peace Hospice, Peace Drive, Watford, Hertlordshire, W017 3PH. Preparatlon of accounts on a going concern ba515 The Tiustees consider there are no material uncertainties about the Group's ability to continue as a going concern. The review of our financial position, fund levels and future plans for the next two years give5 Trustees confidence the Group remains a going concern forthe foreseeable future. Basis of (onsolidation The consolidated financial statements incorporate those of Rennie Grove Peace Hospice Care and its wholly owned subsidiary undertakings, details of which are given in note 21. All figures are consolidated on a line-by-line basis. As permitted by section 408 of the Companie5 Act 2006, the Ststement of Financial Activities ISOFAI of the Charity is not presented as part ol these financial statements. The surplus of the parent company was £4.1 million in 20251£16.0 million in 20241. 341Page
RENNIE GROVE PEACE H05PICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 I. ACCOUNTING POLICIES ICONTINUEDI The principal accounting policies adopted, judgetments and key sources of estimation uncertainty in the preparation of the financial statements are as follows: Income recognition All income is recognised once the charity has entitlementto income, it is probablethat income will be received, and the amount of income receivable can be measured reliably. Donatlons and legacies Donations and gilts are included in ftjll in the Statement of Financial Activities when there is entitlement* probability ol receipt and the arnount of income reieivable can be measured reliably. Donations are accounted for on a received basis. Legacies a recognised on a receivable basis, when the tonditions of entitlement, probability and rneasurement are met. Where the probability andlor measLJrement criteria lor legacies and donations are not satisfied as at the balance sheet date but subsequent events resolve the uncertainty such that the criteria are met. an adjustment 15 made to recognise the income. Gifts In kind Gifts in kind represent assets donated lor distribution or use by the Charity. Assets given for distribution are recogni5ed as income only when distributed. Assets given for use by the Charity are recognised when receivable. Gilts in kind are valued at the amount actually realised frc>m the disposal of the assets oratthe price the Charity would otherwise have paid forthe a55ets. Grants Grants including Government Grants are recognised in full in the Statement of Financial Activities in the year in which the Charity has entitlement to the income, the amount of income receivable can be Measured reliably and there is probability of receipt. Iniome from charitable activities Income from charitable activities is recognised as earned as the related services are provided. Income from other trading activities is recognised as earned as the related goods are provided. Goods donated for sale are included in the financial statements 35 income when they afe sold. Investment income Investment income is recognised on a receivable basis once the amounts can be measured reliably. Expendlture Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings- Costs of raising funds comprises the costs associated with attracting voluntary income and the costs of events and the administration of the Charity shops. Expenditure on charitable activities comprises those costs incurred by the Charity in the delivery of its activities and services to its beneficiaries. Expenditure is allocated to the particular activity where the cost relates directly to that activity. Support costs comprise those costs which are necessary to the delivery of Hospice services while not being part of the direct costs and include governance costs, finance, human iesources, IT and office costs. Support costs are allocated to each of the activities on the following basis.. premises overhead5 have been allocated on a floor area basis and other overheads on the basis of staff nurvbers. IrrecoverableVAT is charged as a cost against the activity for which the expenditure was incurred. Operating leases Rental charges are recognised over the period of which the lease payment falls due. 351page
RENNIEGROVE PEACE HOSPICECARE NOTES TO FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2025 I. ACCOUNTING POLICIES ICONTINUEDI Taxatlon The Charity is considered to pass the tests set out in paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitablecompany for UKcorporation tax purposes. Accordinglyi the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of the Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tanglble flxed ass•ts Tangible fixed assets are stated at cost or deemed cost (donated valuation at estimated fair value) less accumulated depreciation and impairment losses. Assets costing more than £IO.000 are capitslised. Depreciation is calculated to write off the costs of the fixed asset by equal instalments as follows, all straight line.. Freehold land Freehold buildings Car park Leasehold property Leasehold improvements Motor vehicles Fixtures and fittings Tools and equipment over 50 years from the date of first use over 10 yeJis from the date of first Use over the term of the lease overthe term of the lease 25%- 33% straight line 20% straight line 25%- 33Wo straight line Investment Property Investment property is freehold buildings which are not expected to be used in the operations of the Charity or its sub5idiarie5. Typically, they are held forvalue appreciation or to provide a rental income. Investment prtsperties ale shown at market value at the balance sheet date. Investments Investment$ are a form of basic financial instrument and are initially shown in the financial statements at market value. Movements in the market values of investments are shown as unrealised gains and losses in the Statement of Financial Activities. Gains and losses on the sale of investments are shown as realised gains and losses in the Statement of Financial Activities. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying values or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at year end and their opening carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. Financial instruments The Charity only has financial assets and financial liabilitie5 of a kind that qualify as basic financial instruments. Basic financial instrurnents are initially recognised at transaction value and subsequently rneasured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method. stock Bought in stock is valued atthe lowerof c05t and net realisable value. Net realisable value 15 based upon estimated selling price les5 furthercosts expected tci be incurred to completion and disposal. A provision is made for obsolete and slow-rnoving items. The Trustees have concluded and agreed thatthe valuing of shops donated goods for resale on receipt is impractical due to the high volume of low value items, lack of stock system for recording these item5 and the administrative cost involved. Instead, the incorne is recognised in the accounts when these goods are sold. 361page
RENNIE GROVE PEACEHOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THEYEAR ENDED31 MARCH 2025 I. ACCOUNTING POLICIES ICONTINUEDI Debtors Trade and otherdebtor5 are recognised at the settlementamount dueafteranytrade discountoffered. PrÈpaymentsarevalued at the amount prepaid net of any trade discounts due. Cash at bank and In hand Cash at bank and cash in hand includes cash and Short term highly liquid investments. Creditors and provlslons Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measurèd or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Fund$ The General reserve cotnprises the accumulated Surpluses ol unrestricted incoming resources oveT resources expended, which are available for use in furtherance of the general objective of the Charity at the discretion of the Trustees. Capital expenditure is reflected as a transfer from the General reserve to the Fixed asset fund. Designated funds are unrestricted funds earmarked by the Trustees for spendlng on new hospice projects. Restricted funds are funds subject to specific conditions imposed by donors. The purposes and uses Df the principal restricted funds are set out in the notes to the accounts. Amounts unspent at the year-end are carried ltsrward in the balance sheet. Employee benefits Short term benefits including holiday pay are recognised as an expense in the period in which the service Is received. Termination benefits are accounted for on an accrual basis in line with FRS 102. Pension scheme During the year, the Group contributed to two defined contribution pension schemes. It also contributes to the NHS pension scheme and to a money purchase scheme with guaranteed benefits. Charges are made to the Statement of Financial Activities as contributions fall due. More details are given in note 18. Estimate5 and Judg•m•nts Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of the amount, events or actions, artual results ultifftately may differ from those estimates. There are no areas that the Trustees consider to be significant judgements or source5 of estimation uncertainty. 371Page
RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THEYEAA ENDED31MARCH2025 INCOME FROM DONATIONSAND LEGACIES120251 Unrestrirted funds £'ooo Restricted funds 2025 Total £'ooo Legacies Donations 2,477 2,656 2,481 2,919 263 Tat•l donations and l•g•cl•s 5,133 267 5,400 INCOME FROM DONATIONSAMD LEGACIES120241 Unr•strlrt•d funds £'ooo Restrlcted funds £'ooo 2024 Total £'ooo Legacles Donations 3,877 2.506 3.877 2,875 369 Total don•tlon$ and le8acleg 6,383 369 6.752 INCOME FROM CHARITABLEACTMES120251 Unrestrlcted funds £'ooo Restrlrted funds £'ooo 2025 Total É'ooo NHS fundingfrom ICB5 Rapld Personalised ca Service Pepper Foundation/ NHS England Other charltable Income 2,533 2.496 2.533 2,496 171 342 171 342 Total<harltable artivlties 5,371 171 5,542 INCOME FROM CHARITABLE ACTIVITIES120241 Unrestricted R•strictqd fundi 2024 Tatal £'ooo £'ooo NHS funding from ICBS Rapid Personalised Care SeNice Pepper Foundationl NHS England Other charitable income 2,631 2,269 2,631 2,269 386 242 386 242 T•tal¢harit•bl• actlvltles 5,142 386 5,528 381page
RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 4 INCOME FROM OTHER TRADING ACTIVITIES12025} Unrestrl¢t•d funds R•stri£ted funds £'ooo 2025 Tot•1 £'ooo Events Retsil trading 807 4.453 4,453 Totsl othertradlng artlviti•s 5.260 5,261 INCOME FROM OTHER TRADING ACTIVITIES (2024> Unrestrlcted fund¥ £'ooo R•strlrted lunds £'Ot)O 2024 Total £'ooo Events Retail trading 622 4,384 623 4,384 Totsl othertradlng artlvttl•s 5,006 5,007 5 OTHER INCOME120251 Unrestrl¢ted funds Restrfrt•d funds 2025 T*)tal £'ooo Lottery income Other income 588 58 588 350 292 Tot•lotherln¢ome 292 938 OThER INCOME {20241 Unr•strl¢t•d funds £'ooo Restrlct•d fundi £'ooo 2024 Total £?000 Lottery income other income 574 574 Totalotherlncom• 657 659 391Page
RENNIE GROVE PEACE HOSPICE CARE NOTESTO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 6 EXPENDITURE120251 Dlrertst•ff Dlrert other All•xatsd support costs 2025 Total Costs of raising donations and legacies Costs of trading and fundralslng 1,229 2,059 373 1,966 4,871 1,950 R•l$lnKlwids 3,288 2,314 1,235 6,837 Totalcharltableacilvltles 9,108 1,659 1.813 12,580 Totalexpendlture 12,396 3,973 3,048 19,417 EXPENDITURE12024) DlY•ct staff costs Dlrttt other Allocat•d costs SUPPlJrtcosts £'ooo 2024 Total Costs of rnlslng donations and legacies Costs of tradin8 and fundraising 963 1,862 327 1,949 338 1,029 1,628 4,840 R•i$lngfvnds 2,825 2,276 1,367 6,468 CharftalA• actfvftles 8,783 1,493 1,855 12,131 Total expendlture 11,608 3,769 18,599 Included in the 2025 Direct Staff costs are agencystaff costs of£l,600k12024: £1,682kl. Included in the 2025 Allocated support costs are Dlrect staff costs of £2.019k12024.' £1,840kl of which £130k12024.' £146kl relate5 to agency 5tsff. 40Ipage
RENNIE GROVE PEACE HOSPICE CARE NOTESTO FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2025 7 ANALYSIS OF SUPPORT COSTS120251 2025 Tot•1 £'ooo Manag•m•nt £'ooD Flnanc• £'ooo ReurCeS Gov•rn*nc• £'ooo £'ooo Costs of raisingdonations and legacies Costs of trading and fundraising Charitable activities 37 81 187 393 219 506 1,065 373 862 181 174 Totaliupport costs 304 661 1,790 293 3,048 ANALYSIS OF SUPPORT COSTS12024) 2024 Total £'ooo M•nJgèment Flnanc• £'ooo R•sources Gov•rnance £'ooo £'ooo Costs of raising donations and legacie5 Costs of trading and fundraising Charitsble activities 28 87 157 69 209 376 200 608 1,096 41 125 226 338 1,029 1,855 Total supportcosts 272 654 1,904 392 3,222 8 NETINCOME 2025 2024 Net Income is stated after.. Auditors. remuneration: Audit services Other seNices Operating lease rentals Land and buildin8S Depreciation 45 967 277 935 302 411Page
RENNIEGROVE PEACE HOSPICECARE NOTES TO FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH2025 STAFF COSTS 2025 Number 2024 Number The average monthly numberof employees during the year was.. Direct charitable work Fundraising- donations and legacies Fundraising- trading (shop staff) Management and administration 141 29 67 39 137 25 76 50 276 288 2025 £'ooo 2024 £'ooo Employment cost5 in respect ol the staff above were-. Wage5 and salarie5 National insurance Pensions other costs 10.556 966 701 461 9,678 881 633 428 12,684 11,620 Redundancy payments of £13k were rnade in 202512024: £19kl. The numberof employees whose emoluments, excludingemployer's pension contributions and employer's national insurance contributions, were over £60k during the year was.. 2025 Number 2024 Number £60,001- £70,000 £70,001 to £80,000 £80,001 to £90,000 £90,001 to £lOO,000 £iOO,000 lo £llO,000 £iio,ooi to £120,000 £120,001 to £130,000 £130,001 tts £140,000 IL io During the yeari pension contributions for the higher paid employees noted above was £83k12024'. £61kl. The total employee benefits of the key management personnel of the Group and Charity were £660k12024: £701kl. The classification of key management personnel includes only members of the Executive Board. 10 TRUSTEE REMUNERATION The Trustees did not receive any remuneration during the year12024.. £nill. The Trustees were not reimbursed any travel costs during the year12024- £nill. 11 TAXATION The Charity is exempt from corporation tax as all of its income is charitable and is applied for charitable purposes. 421Page
RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12 TANGIBLE FIXEDASSETS Group L•nd•nd Leasehold bulldlnBs Imprw•m•nts £'ooo £'ooo Mxtures and ffttingl £'ooo Toob ènd •qulpment £'¢)00 v•hl¢l•s É'ooo Total £'ooo Cost At l April 2024 Additiofts Disposals 7,181 301 1,263 118 774 14 13261 103 39 1661 9,622 279 13961 141 At 31 March 2025 7,285 301 1,381 462 76 9,505 D•pr•clatlon At l April 2024 Charge forthe year Disp05als 2,238 127 141 271 1,215 43 541 67 16 1451 4332 277 13751 13261 At31 M•rch 2025 2,361 278 1,258 299 38 4.234 Net bookvlblue At31 March 2025 4,924 123 163 38 5,271 At31 March 2024 4,943 30 48 233 36 5,290 Charlty dind Lumhold bulldln8s Improvements £'ooo Tools and equlprnent £'ooo Motor vehlcles £'ooo flttiny £'ooo Tot•l £'ooo Cort At l April 2024 Additions Dlsposals 41 14 27 39 12n 68 121 1271 68 At31 m{h 2025 68 55 39 162 D•precl¥tlon At l April 2024 Charge fortheyear Disposals li io 161 At 31 March 2025 21 Net book valu• At 31 March 2025 66 42 33 141 At 31 March 2024 39 25 431Page
RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2025 13 INVESTMENT PROPERTY Group Charlty 2025 £'ooo 2024 £'ooo 2025 £'ooo 2024 £'ooo Mark•t valuatlon At l April Additions Disposa15 Net gainlllos51 on investment propety 1,120 1.150 12,5191 1,399 1301 At 31 March 1,120 Followin8 3 legacy notification received in May 2021. a propety was transferred to RG ownership in July2022. The value of the property was adjusted ateach year end based on a professional appraisal performed as of 31 Marth. The property Wa5 sold on 13 November 2024 for£2,519k, net of sellingfees. 14 INVESTMENTS Group Ch•rlty 2025 2024 2025 £'ooo 2024 Llsted investments Unllsted investments 6,712 259 6,494 6.314 259 6,971 6,803 6,494 6.314 Group Ch•rlty Llsted Investments 2025 2024 2025 £'ooo 2024 Market ¥aluatlon At l April Additions Donation from RG Di5posaLs Net gainlllossl on investment5 6,148 2,693 6,314 2.693 3.535 1181 186 12,7171 420 1151 195 86 At 31 March 6.712 6,544 6,494 6,314 Historical cost of listed investments 6.909 6,451 6.690 6.228 441Page
RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THEYEAR ENDED31 MARCH2025 14. INVESTMENTS ICONTINVEDI Listed Investments As at 31 March 2025, the Group holds £6.5 million in rlledium terrn investments in the 8aiclays Charity Investrnent Fund12024'. £6.3 million). In addition, RG owns 219,015 UK Government bonds which were donated to RG by The Nurses Cottage Trust when this charity was closed. These bonds are valued at £217k at 31 March 202512024.. £226kl. Unlisted Investmqnts RG owns 28 shares of EL nominal value each in The Hospice Lottery Partnership Limited, a company registered ill England and Wales carrying out fundraising activity. The investments are included in the financial statements at cost. Each participating hospice has a representative on The Hospice Lottery Partnership board. During the yearto 31 March 2025, The Hospice Lottery Partnership Limited made donations lo Group companies totalling £420k12024= £400kl. As at 31 March 2025, £nil was duè to the Group from The Hospice Lottery Partnership12024.. Énill. 15 STOCK Group Charity 2025 £'oDo 2024 £'ooo 2025 £'ooo 2024 £'ooo Bought in goods lor resale 67 97 16 DEBTORS Group Charity 2025 £'ooo 2024 £'ooo 2025 £'ooo 2024 £'ooo Trade debtors Prepayments and accrued legacy income Gift aid recoverable VAT Intercompany debtors Other debtors 70 2,862 133 210 1,330 2,857 52 241 2,505 129 210 142 343 1,980 50 147 loo 21 468 343 3.743 4,823 3,329 2,298 17 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group Charfty 2025 £'ooo 2024 £'ooo 2025 £'ooo 2024 £'ooo Trade creditors Taxation and social security Pensions Accruals and delerred income Intercompany creditors Other creditors 665 216 115 558 490 225 171 829 504 216 115 418 iio 149 225 169 508 268 17 1,571 1,721 1,365 1,320 45Ipage
RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THEYEAR ENDED31 MARCH 2025 17. CREDITORS: AMOUIITS FALLING DUE WITHIN ONE YEAR ICONTINUEDI Accruals and deferred income include deferred income as follows: Group Charity 2025 £'ooo 2024 £'ooo 2025 £'ooo 2024 £'ooo AtIApril Amounts deferred in the year Amounts released in the year 436 188 14361 515 436 15151 254 68 12541 254 188 436 68 254 At 31 March 18 PENSION COMMITMENTS Duringthe year, Group companies contributed to four pension schemes on behalf of their employees. The NHS Pension Scheme The Pensions Trust Growth Plan The Standard Life defined contribution scheme The Now Pension Schetlle Contributions to each scheme are charged to the Statement of Financial Activities as they arise. The NHS Pension Sch•m• Hospice stsfl who were members of the National Health Setvice Pension Scheme are allowed to continue their membership while employed by any of the Group charities. Contributions are made by both employee and employer. As this is a multi-employer scheme, it is not possible to identify any one institution's share ol the underlying liabilities. The Scheme is therefore accounted foras 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 Office. The Group'scurrent employertontribution rate 15 14.38% of a total amount of 23.78%forwhich the remaining part 9.4010 is met by the Department of Health. The rate is set on the advice of the GovernmentActuary. £41k contributions were outstanding at 31 March 202512024.. £40kl. The Penslons TrustGrowth Plan Several forrner RG employees belong to a money purchase5cheme with guaranteed benefits. Contributions are made by both employee and employer in accordance with the rules of thescheme. As this is a multi-employer scheme, it is not possible to identify any one institution's share of underlying assets and liabilities. The scheme is therefore accounted for as a delined contribution scheme and contributions are accounted for as they fall due. In a prioryear, a Plan deficit was identified, and a ten-year deficit reduction plan wa5 agreed forwhich the Group paid a Sum of £44 per annum. At 31 March 2024, the estimate of the liability that would arise if the Group withdrew from the Plan was £21k nd this liability was provided for in the 2024 financial statements. In 2025, RG withdrew from this Plan which resulted in a paymento1£18kforthe estimated share of the debt on withdrawal. Employees who were membersof this Plan were transferred to The Standard Life Scheme. There are Énil contributions outstanding in this Plan at 31 March 202512024.. £2kl. The Standard Life Scheme The Group provides a defined contribution scheme operated by Standard Life. Contributions are made by both employer and employee in accordance with the rules ol the scheme. The pension contributions Outstanding at 31 March 2025 totalled £74k12024-. £96kl 461Page
RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. PENSIONCOMMITMENTS{CONTINUEDI NOW: Pensions For other former PH staff, the Group operated a group personal Imoney purchase) pension scheme, NOW: Pensions. Contributions were made by both employer and etnployee in accordance with the rules of the scheme. In 2025. Rennie Gr(>ve Peace withdrew from the Scheme and members were transferred to The Standard Life Scheme. There are £nil contributions outstanding in this Scheme at 31 March 202512024.. £33kl. The 355ets of both the Standard Life and Now.. Pensions schemes are held separatelyfrom those of the Group in independently administered funds. The Group has no liability beyond making its contributions and paying across the deductions for the employee contributions. 19 FUNDS120251 Gain5 10550$ •nd transfers £'ooo At 31 March 2025 £'ooo At l Aprll 2024 £'ooo Incom• Expenditure £'ooo £'ooo GROUP Unrestricted funds General reserve Accurnulated profits of subsidiary 17,804 59 16,647 228 117,9491 12281 3,156 19,658 59 Deslgnated funds Investment property lund Fixed asset fund Merger implementation fund strategic initiatives fund Property fund Capital prosramme fund 1,120 347 11,1201 150 11501 347 500 15001 1371 12001 1,937 1,000 1741 1,826 Total unrestflcted funds 22,767 16,875 118,4011 1,449 22,690 Restricted funds Property fund Pepper Foundationl NHS Hospice UK funding Nurse5 Cottage Fund Department of Health grants The Shaw Charitable Trust Hospice UK grants Hospice UK DHSC grant Other restricted funds 2,390 156 1361 13491 108 2,462 193 146 226 191 37 217 616 1171 1621 1301 12791 12341 636 197 135 198 168 279 200 259 225 Total restrictod fund5 4,129 740 11,0161 136 3,989 Total funds 26,896 17,615 119.4171 1,585 26,679 471Page
RENNIE GROVE PEACE HOSPICE CARE NOTESTO FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2025 19. FUNDS {2025) ICONTINUEDI and transl•rs At 31 Mar¢h 2025 £'ooo At l Apr112024 £'ooo lThcom• £'ooo Exp•ndltur• £'ooo CHARITY Vnrestrlrt•d funds G•n•ral r•s•N• Accumulated profits of subsidiary 14,328 20,125 116,7701 797 18,480 D•$l8nated funds Investment property fund Fixed asset fund Merger implementation fund Strategic initiatives fund Property fund Capital programme fund 1231 loo 141 500 15001 1,000 12001 800 Total unr•strfrted funds 15,892 20.125 116.7931 197 19.421 R•strlct•d funds Property fund Pepper FoundationlNHS H05pice UK funding Nurse5 Cgttage Fund Department of Health grants The Shaw Charltsble Trust H05pice UK grants Hospice UK DHSC grant Other restricted funds 343 13431 146 146 191 135 135 168 168 279 12791 12281 108 345 225 Total r•strlcted fvnds 108 1,425 18591 674 Total funds 16,000 21,550 117,6521 197 20,095 481Page
RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2025 19. FUNDS12024} CONTINUED Galns, losse> •nd tr*nrf•rs At 31 March 2024 At l Apr112023 Exp•ndlture £'ooo £'ooo £'ooo GROUP Uniestrlcted funds General reserve Accumulated proflts of Subsidiary 17,687 59 17,298 212 117,4281 12121 247 17,804 59 De$lgn4t•d funds Investment property fund Fixed asset fund Merger implementation fund Strategic initiatlvesfund Property fund Capital programme fund 1,1 342 1301 181 1,120 347 11761 12121 212 500 500 2.012 1,000 1751 1,937 1,000 Total unrertrl¢t•d funds 22,962 17,510 118,1031 398 22,767 Restrfrted fvnds Propety fund Pepper Foundationl NHS Hosplce UK funding Nurses Cottage Fund Department of Health grants The Shaw CharitableTrust 2,424 1341 12301 2,390 156 386 146 146 226 616 197 234 191 1171 1651 1871 1541 181 633 65 285 79 197 Hospice UK grants Other restricted funds 198 175 200 Total restrlrted lunds 3,866 767 14961 181 4.129 Total fundi 26,828 18,277 118,5991 390 26,896 491Page
RENtIlE GROVE PEACE HOSPICE CARE NOTESTO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. FUNDS {20241 ICONTINUEDI G•ln$. and transl•rs £'ooo At 31 Narc 2024 £'ooo At IApr112023 £'ooo Incom• Exp•ndltur• CHARITY Unrestrlrted lunds G•n•ral r•s•rv• Accumulated profits of subsidiary 25,831 110,0211 11,4821 14,328 Designated fundi Investment propeity fvnd Fixed a55et fund Merger implementation fund Strategic initiatives fund Propety fund Capital programmefund 141 500 500 i.OC4) 1,000 Total unr•strlrt•d fund$ 25.831 110.0251 15,892 Restrlcted funds Property fund Pepper Foundation/NHS Hospice UK funding Nursescottage Fund Department of Health grants The Shaw Charitable Trust Hospice UK grants Othef $trIcted funds iii 131 108 Total r•1•d fvndi iii 108 Totallunds 25,942 110.0281 86 16,000 Solpage
RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THEYEAR ENDED31 MARCH2025 19. FUNDS ICONTINUEDI DESIGNATED FUNDS The Trustees have designated certain unrestricted funds to known and expected projects which are expected to be carried out over the short and medium terms, and which are considered essential to ensure the successful delivery of the Group's strategies. During the year, the Trustee5 have carried out o review of the designated unrestricted funds to ensure these are aligned with Rennie Grove Peace's plans and these plans are adequately but not excessively funded. The following designated unrestricted funds are held at 31 Maich 2025 and 2024: The Trustees have designated the following unrestricted funds at 31 March 2025 and 2024.. Investment property fund Finances a donated property held for its capital appreciation and rèntal stream and not used in the day-to-dayoperation of the Group. Flxed a$$et fund Finances the net bDok value of fixed assets other than property. Merger implementation fund Represents key projects necessary to successfully implement the merger. strategic initiativesfund Initiatives identified by the Executive Board, and supported by the Trustees, to support clinical and operational plans to progress the Group's strategy. Property fund Financesthe net book value of the Peace Hosplce, excluding the element of the property financed by the Department of Health. Capltal programme fund Capital projects identified for the strategic planning period. RESTRICTED FUNDS Restricted funds are subject to specific requirements defined by the Group's donors. Property fund The Property fund represents the net book value of Gillian King House, a freehold property purchased through a gift from trust in November 2002 to accommodate the nursing and support teams operating in the South Bucks area, and the Grove House prerllises, which is a leasehold property, subject to a lease liom the Department of Health for 99 years from 1991. The construction and subsequent extensions of the premises have been financed mainly from grants and donations made for these specific purposes. Pepper FoundationlNHS The Pepper Foundation and Department of Health funds are received towards the salaries and expenses of the paediatric Hospice at Horne team and the family support services. Hospice UK funding Grants to support the expansion of the 2417 nursing care service. Nurses Cottage Fund In May 2018, RG recewed a donation from The Nurses Cottage Trust con51Sting oftreasury stock and cash. The balance consists of the treasury stock which is adjusted to market value at each year end. The Trustees have approved the use of any earned interest on clinical care in the Great Missenden and Prestwood areas. 511Page
RENNIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19. FUNDS ICOMTINUEDI Department of Health grants Grants made to fund expansion and improvementto facilities at PH. The Shaw Charltable Trnst Grants to enable the enhancement of key IT Systems. Hosplce UK8rants For collaboration and data analytics projects. Hospice UK DHSC grant For capital expenditure. Provided by the Oepartment of Health and Social Care via Hospice UK. Oth•r r•strlct•d fund8 other restricted funds consist of smaller grants and donations given for specific purposes or projects. TRANSFERS Group The Strategic initiatives fvnd of£500k was reduced to £nil and the Capital programme fund was reduced ffom £l,OOOktts £800k following an assessment of the financial requirements of the new thre&year strategic plan. Charity In 2025, the Trustees decided that the remaining Testricted funds held by RG from the Pepper Foundation of £150k, Hospice Uk grant of £168k, The Shaw Charitsble Trust of £135k, Others of £98k and the Nurses Cottage Fund interest of £9k will be spent by Rennie Grove Peace. In addition, the Trustees decided that the remaining restricted funds held by PH from Hospice UK of £146k will be Spent by Rennie Grove Peace. £158k IRG.. £108k, PH: £50kl represented by restricted funds was donated to subsidiary companies fer iestricted capital additions in those Subsidiaries. 521Page
RENIIIE GROVE PEACE HOSPICE CARE NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 20 ANALYSIS OF NET ASSETS BY FUND (20251 Unr•strict•d funds R•strfct•d funds Total GROUP Tangible fixed assets Investment prope Investments Other net assets 2,173 3,098 5,271 6,754 13,763 217 674 6,971 14.437 Total net ass•ts 22,690 3,989 26,679 Unr•strict•d nds £'ooo R•strkt•d fvnds Totsl £'ooo CHARiri Tangiblefixed assets Investment property Investments Other net assets 141 141 6,494 12,786 6.494 13,460 674 Totsl nrtass•ts 19,421 674 20,095 ANALYSIS OF NET ASSETS BY FUND120241 Unrestrlcted funds £'ooo R•strfrted nds Totsl GROUP Tangible fixed assets Investment property Investments other netassets 2,284 1,120 6,577 12,786 3,006 5.290 1,120 6,803 13.683 226 897 Tot•1 nét assets 22,767 4,129 26,896 Unrestrfrt•d nds £'ooo Restrlrt funds £'ooo Totsl É'ooo CHARITY Tangiblefixed assets Investment property Investments Other net assets 6314 9514 6314 9,622 108 Totsl net assets 15,892 108 16,000 531page
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RENNIÉ GROVE PEACE HOSPICE CARE NOTESTO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 22 RELATED PARTYTRANSACTIONS The Charity has six subsidiaries detailed in note 21 above. During the year, cash of £3.4 million12024.' £10.5 million), investments of £nil12024.. £3.5 million) of and assets related to restricted funds of £560k12024'. £nill held by RG were donated to Rennie Grove Peace. RGP donated £108k12024= £nill to RG foi capital additions. As at 31 March 2025, RG owed £41k to Rennie Grove Peace12024= Rennie Grove Peace owed £126k to RGI. During the year, cash of E2.8 million12024'. £6 million) and assets related to restricted funds of £146k12024= £nilll was donated by PH to Rennie Grove Peace. RGP donated £50k12024: £nill to PH for capital additions. As at 31 March 2025, Rennie Glove Peace owed £IIOk lo PH12024'. £142kl. lain Rennie Hospice Services made donations lo Rennie Grove Peace of £79k12024.. £107kl. As at 31 March 2025. lain Rennie Hospice seices owes £IOLk to Rennie Grove Peace12024- £IOOkl. 23 FINANCIALCOMMITMENrs A5 at 31 March 2025 the Group was committed to making the following payments under non-cancellable operating leases= Land and buildings Group Charity 2025 2024 £'ooo 2025 2024 £'ooo £'ooo Expiry date.. Within one year Between one and two years Between two and five years In over five years 877 679 1,424 945 903 762 1,444 1,190 iio iio 220 87 3,925 4,299 527 24 NOTE TOTHE CASHFLOW STATEMENT 2025 £'ooo 2024 £'ooo Reconciliationof changes in r•sourcesto netcash inliowl{outflowl from operating activitles Net income fortheyear Adjustments for Depreciation of tangible fixed assets Net Igainllloss on investment property Interest received Net Igainlllos5 OFI Iiivestments Ilncreaselldecrease in stock Ilncreaselldecrease in debtors Increaselldecreasel in creditors 12171 277 11,3991 14741 11861 30 1,080 11501 302 30 13311 14201 1,016 46 11,0391 700 551page
RENIIIE GROVE PEACE HOSPICE CARE NOTESTO FINANCIAL STATEMENTS FOR THE YEAR EIIDED 31 MARCH 2025 25 COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIALACtMTIES120241 Unrestrlcted fund$ £'ooo Reitritted fund$ £'ooo Total 2023 £'ooo Notes INCOME: Donations and legacies Chafitable activities Othertrading actlvlties Other income Interest receivable 6,383 5,142 5,006 657 322 369 386 6,752 5,528 5,007 659 331 Total Income 17,510 767 18.27T EXPENDITURE: Raisingfunds Charitable activitie5 6.392 11,711 76 420 6,468 12,131 Totsl expenditure 18,103 496 18,599 Net gainll10551 on investment property Net gainlllossl on investments 13 14 1301 428 1301 420 181 N•t incom•lllosil 11951 263 68 Tr•n$f•N b•tween fund$ 19 N•t fflgv•m•nt in fvnds.. 19 11951 263 68 Fund5 at beginnin8 of year 22,962 3,866 26,828 Funds at end ofyear 22,767 4,129 26,896 561Page