**REGISTERED CHARITY NUMBER: 1203244** 

**Report of the Trustees and** 

**Unaudited Financial Statements for the Period 24 May 2023 to 31 March 2024** 

**for** 

**The Gold Standards Framework Centre CIO** 

WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG 



**The Gold Standards Framework Centre CIO** 

**Contents of the Financial Statements for the period 24 May 2023 to 31 March 2024** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to 8|
|**Independent Examiner's Report**|9|
|**Statement of Financial Activities**|10|
|**Balance Sheet**|11|
|**Notes to the Financial Statements**|12 to 16|
|**Detailed Statement of Financial Activities**|17 to 18|





**The Gold Standards Framework Centre CIO** 

## **Report of the Trustees for the period 24 May 2023 to 31 March 2024** 

The trustees present their report with the financial statements of the charity for the period 24 May 2023 to 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

Introduction by the Board of Trustees 

## History 

For the first twelve years the work of GSF was hosted within the National Health Service, largely funded by a Department of Health grant. At the end of the grant, this work was then transferred to the Gold Standards Framework Centre CIC. The company was incorporated in 2010. GSF Centre CIC received commissions from NHS Clinical Commissioning Groups, Local Authorities, training providers and other organisations for delivery of training to large groups, as well as directly from individual or corporate organisations. In May 2023 the GSF Centre became a registered charity. 

The National Skills for Care for Social Care awarded GSF Centre CIC Recognised status and was recognised as a Centre of Excellence in Adult Social Care training in March 2011 and this has been repeated every year since. 

GSF Hospital accreditation has been recognised by Care Quality Commission as the only End of Life Care accredited scheme for hospitals to be included as CQC's information source. 

Page 1 



**The Gold Standards Framework Centre CIO** 

## **Report of the Trustees for the period 24 May 2023 to 31 March 2024** 

## **OBJECTIVES AND ACTIVITIES Objectives and aims** 

Charitable Object, core purpose and aims 

The object of the Gold Standards Framework CIO is to advance the health and wellbeing of people in last years of life and their families and carers through education of the public in general (particularly amongst the workforce responsible for providing care for people in the last years of life) on the subject of care for people in the last years of life, including by providing training to enable the delivery of improved and appropriate care for people in the last years of life. 

We believe that "Everyone deserves 'gold standard care' at the end of their life". 

The Gold Standards Framework (GSF) has been the UK's leading training provider for generalist frontline staff caring for people in the last years of life for over 25 years. It was founded by Prof. Keri Thomas in 1998 to improve the care for people nearing the end of life given by generalist frontline providers. 

GSF is a practical systematic evidence-based approach to optimising care for people nearing the end of life, given by generalist frontline care professionals in health and social care. Our aim is to enable a 'gold standard' of care for all people in the last years of life, supporting them to live well until they die. This includes people with any condition, in any setting, given by any care provider, at any time in a person's last years of life. 


GSF has been shown to improve the quality of care, confidence of staff, coordination, team working, and documentation and reduce hospital deaths, in many cases halving the numbers of people admitted to and dying in hospitals, enabling more to live and die at home, leading to significant cost savings. 

Training is based on quality improvement principles and is delivered through interactive workshops, accompanied by supporting training materials customised for teams within the particular organisations. Currently there are 6 training programmes running in primary care, care homes, acute hospitals and community hospitals, domiciliary care organisations, retirement villages, prisons etc 

Page 2 




Public benefit 

The work of the Gold Standards Framework is of great benefit to all those in the last years of life and their families and carers, to enable them to live well and to die well in the place and manner of their choosing. GSF is also of great benefit to health and care workforce who grow in confidence and job satisfaction as they are trained and enabled with the necessary skills to ensure that they are delivering the best quality 'gold standard' end of life care to all patients and residents. This work also supports their families and friends, reducing distress and supporting them in bereavement. 

The wider impact of this work affects extensive numbers involved in care for people nearing the end of life in all areas. There is considerable public benefit in the provision of high quality proactive end of life care to people in line with their wishes enabling more to live and die at home as it reduces the use of primary care and community services, emergency services and hospitals, thereby effecting the care of many in the wider population. 

During the year, we achieved our target numbers of teams trained and accredited, meaning that even more people were helped delivering a greater benefit to the general public by empowering the workforce. 

Page 3 



**The Gold Standards Framework Centre CIO** 

## **Report of the Trustees for the period 24 May 2023 to 31 March 2024** 

We provide free resources on our website to further enhance learning and offer free webinars for a variety of different health care sectors, these take place regularly throughout the year.  Most organisations pay for the training programmes directly , but we are seeking fundraised income to be able to offer subsidised programmes to reach more organisations who wish to improve their end of life care but are currently unable to pay. 


Page 4 



**The Gold Standards Framework Centre CIO** 

## **Report of the Trustees for the period 24 May 2023 to 31 March 2024** 

## **ACHIEVEMENT AND PERFORMANCE** 

Review of the Year 

2024 was our first year as a Charity (established 2023). We have begun the process of fundraising, having applied to various trusts and organisations to enable us to reach more of the population in the last stages of life. For the year to 31st March 2024, our income was derived predominantly from the training programmes and accreditation procedures. 

Activity levels 

During the financial year to 31st March 2024 The Gold Standards Framework Trained 224 Organisations over 21 cohorts. The average number of attendees from each organisation was 4, meaning that an average of 896 Heath and Social care workers have improved the care for the population in the last years of life. 

The breakdown of this training is: 

Care Home - 176 Organisations Domiciliary Care - 14 Hospitals - 33 Retirement Villages - 1 

At our conference in September 2023, 117 organisations achieved accreditation, broken down as follows: 

Care Home - Organisations - 76 Domiciliary Care - 11 Hospitals - 17 Retirement Villages - 9 Primary Care - 4 

Seven of these organisations were 3rd time accredited, eight were 4th time accredited and one was 5th time accredited. 5th time accredited means that they had followed the GSF programme for 15 years. 

During this financial year, we developed a new 'Champions' programme in response to customer feedback and began delivering this in January. This enables one individual within an organisation to become a Champion in end of life care and be able to support their peers. This programme is shorter and is more accessible to the busy workforce. 

Staffing was reassessed during the year, and the permanent clinical team was increased from 7 days per week to 10 days per week, to offer more support on a regular basis to deliver training. This also released the Chief Operating Officer from operational delivery work. 

The administrative team was also restructured, dividing the function into more specialist areas to cover the three core functions of the organisation - Training, Accreditation and Marketing. 

We began our fundraising campaign, appointing a specialist to develop our case for support and produce 10 applications, which were submitted after year end. 

More recently, The Gold Standards Framework has become a member of the Coalition of Frontline Care - for people nearing the end of life. The coalition is made up of seven members who campaign for improvement in end of life care across all sectors. 

Page 5 



**The Gold Standards Framework Centre CIO** 

## **Report of the Trustees** 

## **for the period 24 May 2023 to 31 March 2024** 

## **FINANCIAL REVIEW** 

## **Financial position** 

The statement of financial activities for the first year as a charity shows the total incoming resources for the year of £533K. 

£80K of this was donated income, of which £74k related to the assets transferred at book value from the previous CIC, and the remainder earned through trading, mainly through the sale of training programs and for organisation completing accreditation. 

The primary expense of the charity is Salaries, accounting for 78% of costs. 

The surplus for the year was £223K, and this being the first year of the CIO is reflected in the balance sheet position at the end of the financial year. 

Deferred income is £670K, being the training/accreditation paid for in advance by organisations. 

## **Investment policy and objectives** 

The investment assets are marketable financial instruments, which are considered to be low risk. The structure of the portfolio aims at generating capital growth in the long term. 

## **Reserves policy** 

The board of directors/trustees consider it prudent that unrestricted reserves should be sufficient: 

1) to cover three - six months income from care homes (our main source of income) 2) To cover three - six months of governance and support costs 

3) To cover potential redundancy costs 

The level of reserves is monitored every two months at board meetings or at a frequency considered prudent by the board and the reserves policy is reviewed annually. 

Short-term working capital does not represent an operating difficultly due to the funding model for the training programmes, whereby all training and accreditation is paid for up front, the accreditation typically takes place 12-24 months after start of training and therefore represents a large cash balance but remains on the balance sheet as a liability. 

Given that working capital does not become an issue, the reserves policy is primarily in place to ensure continuation of service during times of low income and to provide a dissolution fund in the event of closure. 

Minimum reserves are set at £75k with a maximum of £126k, all unrestricted. 

Page 6 



**The Gold Standards Framework Centre CIO** 

## **Report of the Trustees for the period 24 May 2023 to 31 March 2024** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

Legal and Administrative 

The charity is governed by its constitution and forms a charitable incorporated organisation as defined by the Charities Act 2011. 

Transfer from CIC - The Gold Standards Framework operated as a CIC from April 2010 until it converted to a CIO in May 2023. 

The day to day management of The Gold Standards Framework Centre CIO is in the care of the Chief Operating Officer who acts in accordance with the directives of the Board of Trustees. 

Information about the charity can be found on its website at www.goldstandardsframework.org.uk. 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 

1203244 

## **Principal address** 

71-75 Shelton Street Covent Garden London WC2H 9JQ 

## **Trustees** 

Professor K Thomas (appointed 24.5.23) Reverend M Thomas (appointed 24.5.23) Dr J L Kennedy (appointed 22.7.24) J C M Lamirel (appointed 22.7.24) D Motyka (appointed 22.7.24) J Mackenzie (appointed 24.5.23) (resigned 14.5.24) A Rosenbach (appointed 24.5.23) (resigned 13.1.24) S A H Richards (appointed 24.5.23) (resigned 14.5.24) L Sutton (appointed 24.5.23) (resigned 31.7.24) Dr L Pain (appointed 24.5.23) (resigned 1.8.24) L Nicoll (appointed 23.7.24, resigned 1.10.24) 

5 Trustees were previously non-executive directors of the CIC and they have been transferred over - some on 2-3 year agreements. 

## **Independent Examiner** 

H M Pierce WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG 

Page 7 



**The Gold Standards Framework Centre CIO** 

## **Report of the Trustees for the period 24 May 2023 to 31 March 2024** 

Approved by order of the board of trustees on 6[th] January 2025 and signed on its behalf on 22[nd] January 2025 by: 


................................................................. 

J C M Lamirel - Trustee 

Page 8 



## **Independent Examiner's Report to the Trustees of The Gold Standards Framework Centre CIO** 

## **Independent examiner's report to the trustees of The Gold Standards Framework Centre CIO** 

I report to the charity trustees on my examination of the accounts of The Gold Standards Framework Centre CIO (the Trust) for the period 24 May 2023 to 31 March 2024. 

## **Responsibilities and basis of report** 

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 

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

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

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


H M Pierce 

WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG 

Date: 22[nd] January 2025 

Page 9 



**The Gold Standards Framework Centre CIO** 

## **Statement of Financial Activities for the period 24 May 2023 to 31 March 2024** 

|||Unrestricted|
|---|---|---|
|||fund|
||Notes|£|
|**INCOME AND ENDOWMENTS FROM**|||
|Donations and legacies||80,492|
|Other trading activities|2|442,607|
|Investment income|3|9,729|
|**Total**||532,828|
|**EXPENDITURE ON**|||
|Raising funds|4|2,435|
|Other||314,601|
|**Total**||317,036|
|Net gains on investments||7,671|
|**NET INCOME**||223,463|
|**TOTAL FUNDS CARRIED FORWARD**||223,463|



The notes form part of these financial statements 

Page 10 



**The Gold Standards Framework Centre CIO** 

## **Balance Sheet 31 March 2024** 

|||Unrestricted|
|---|---|---|
|||fund|
||Notes|£|
|**FIXED ASSETS**|||
|Tangible assets|7|3,996|
|Investments|8|355,927|
|||359,923|
|**CURRENT ASSETS**|||
|Stocks|9|1,407|
|Debtors|10|96,076|
|Cash at bank||491,626|
|||589,109|
|**CREDITORS**|||
|Amounts falling due within one year|11|(725,569)|
|**NET CURRENT ASSETS**||(136,460)|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**||223,463|
|**NET ASSETS**||223,463|
|**FUNDS**|12||
|Unrestricted funds||223,463|
|**TOTAL FUNDS**||223,463|



The financial statements were approved by the Board of Trustees and authorised for issue on 6[th] January 2025 and were signed on its behalf on 22[nd] January 2025 by: 



.............................................                                  ............................................. 

Dr J L Kennedy - Trustee                                         J C M Lamirel - Trustee 

The notes form part of these financial statements 

Page 11 



**The Gold Standards Framework Centre CIO** 

## **Notes to the Financial Statements for the period 24 May 2023 to 31 March 2024** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

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

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life – Fixtures & Fittings 25% reducing balance, IT equipment 33.3% straight line. 

## **Stocks** 

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 

## **Taxation** 

The charity is exempt from tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Hire purchase and leasing commitments** 

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. 

continued... 

Page 12 



**The Gold Standards Framework Centre CIO** 

## **Notes to the Financial Statements - continued for the period 24 May 2023 to 31 March 2024** 

## **1. ACCOUNTING POLICIES - continued** 

## **Pension costs and other post-retirement benefits** 

The charity operates a defined contribution pension scheme.  Contributions payable to the charity's pension scheme are charged to the  Statement of Financial Activities in the period to which they relate. 

## **2. OTHER TRADING ACTIVITIES** 

|Training<br>Conferences<br>Accreditation<br>**3.**<br>**INVESTMENT INCOME**<br>Other fixed asset invest - FII<br>Curr asset inv income|£<br>220,615<br>28,095<br>193,897|£<br>220,615<br>28,095<br>193,897|
|---|---|---|
||442,607||
|||£<br>9,613<br>116|
|||9,729|



## **4. RAISING FUNDS** 

|**Investment management costs**||
|---|---|
||£|
|Support costs|2,435|



## **5. TRUSTEES' REMUNERATION AND BENEFITS** 

Service fees relating to writing of an article amounting to £350 were paid to Professor Keri Thomas during the period ended 31 March 2024. 

## **Trustees' expenses** 

The above trustee member was reimbursed £465 as follows:- £203 stationery, £170 equipment and £92 travel costs during the year ended 31 March 2024. 

continued... 

Page 13 



**The Gold Standards Framework Centre CIO** 

## **Notes to the Financial Statements - continued for the period 24 May 2023 to 31 March 2024** 

## **6. STAFF COSTS** 

The average monthly number of employees during the period was as follows: 

|Executive team<br>Clinical staff<br>Administrative staff|2<br>4<br>4|
|---|---|
||10|



One employee received on a pro-rate basis emoluments in excess of £60,000. 

## **7. TANGIBLE FIXED ASSETS** 

|**7.**|**TANGIBLE FIXED ASSETS**||
|---|---|---|
|||Fixtures|
|||and|
|||fittings|
|||£|
||**COST**||
||Additions|5,335|
||**DEPRECIATION**||
||Charge for year|1,339|
||**NET BOOK VALUE**||
||At 31 March 2024|3,996|
|**8.**|**FIXED ASSET INVESTMENTS**||
|||Listed|
|||investments|
|||£|
||**MARKET VALUE**||
||Additions|416,056|
||Disposals|(76,412)|
||Revaluations|16,283|
||At 31 March 2024|355,927|
||**NET BOOK VALUE**||
||At 31 March 2024|355,927|



There were no investment assets outside the UK. 

continued... 

Page 14 



**The Gold Standards Framework Centre CIO** 

## **Notes to the Financial Statements - continued for the period 24 May 2023 to 31 March 2024** 

## **8. FIXED ASSET INVESTMENTS - continued** 

Cost or valuation at 31 March 2024 is represented by: 

|Valuation in 2024<br>Cost<br>Revaluations<br>Realised gains/(losses) on disposal of investments<br>Movement on unrealised gains/(losses) on value of investments<br>**9.**<br>**STOCKS**<br>Stocks<br>**10.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Prepayments and accrued income|Listed<br>investments<br>£<br>16,283<br>339,644<br>355,927<br>£<br>(8,612)<br>16,283<br>7,671<br>£<br>1,407<br>£<br>80,993<br>15,083<br>96,076|Listed<br>investments<br>£<br>16,283<br>339,644<br>355,927<br>£<br>(8,612)<br>16,283<br>7,671<br>£<br>1,407<br>£<br>80,993<br>15,083<br>96,076|Listed<br>investments<br>£<br>16,283<br>339,644<br>355,927<br>£<br>(8,612)<br>16,283<br>7,671<br>£<br>1,407<br>£<br>80,993<br>15,083<br>96,076|
|---|---|---|---|
|||||
|||||
|||||



continued... 

Page 15 



**The Gold Standards Framework Centre CIO** 

**Notes to the Financial Statements - continued for the period 24 May 2023 to 31 March 2024** 

## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||
|---|---|
|Trade creditors<br>Taxation and social security<br>Other creditors|£<br>5,843<br>43,186<br>676,540|
||725,569|



## **12. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Net<br>movement<br>in funds<br>£<br>223,463<br>223,463|At<br>31.3.24<br>£<br>223,463|
|---|---|---|
|||223,463|



Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>532,828<br>532,828|Resources<br>expended<br>£<br>(317,036)<br>(317,036)|Gains and<br>Movement<br>losses<br>in funds<br>£<br>£<br>7,671<br>223,463<br>7,671<br>223,463|
|---|---|---|---|



## **13. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the period ended 31 March 2024. 

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**The Gold Standards Framework Centre CIO** 

**Detailed Statement of Financial Activities for the period 24 May 2023 to 31 March 2024** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Donations<br>**Other trading activities**<br>Training<br>Conferences<br>Accreditation<br>**Investment income**<br>Other fixed asset invest - FII<br>Curr asset inv income<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Support costs**<br> **Management**<br>Wages<br> **Finance**<br>Wages<br>Social security<br>Pensions<br>Sundries<br>Travel expenses<br>Conferences<br>Training costs<br>Computer costs<br>Marketing<br>Telephone<br>Subscriptions<br> **Other**<br>Other operating leases<br>Carried forward|£<br>80,492<br>220,615<br>28,095<br>193,897<br>442,607<br>9,613<br>116<br>9,729<br>532,828<br>139,994<br>92,656<br>7,768<br>3,826<br>373<br>4,746<br>19,743<br>7,433<br>12,374<br>13,201<br>875<br>265<br>163,260<br>824<br>824|
|---|---|



This page does not form part of the statutory financial statements 

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**The Gold Standards Framework Centre CIO** 

## **Detailed Statement of Financial Activities for the period 24 May 2023 to 31 March 2024** 

|**Other**<br>Brought forward<br>Insurance<br>Postage and stationery<br>Sundries<br>Depreciation of tangible fixed assets<br> **Governance costs**<br>Accountancy and legal fees<br>Total resources expended<br>**Net income before gains and losses**<br>**Realised recognised gains and losses**<br>Realised gains/(losses) on fixed asset<br>investments<br>**Net income**|£<br>824<br>1,775<br>1,084<br>2,019<br>1,339<br>7,041<br>6,741<br>317,036<br>215,792<br>(8,612)<br>207,180|
|---|---|



This page does not form part of the statutory financial statements 

Page 18