2021-03-31-accounts - Willen Hospice

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Legal and Administrative Details	Legal and Administrative Details
Chairman's	Annual Report			3-4
Trustees' Report, including the Strategic report				5-21
Independent	Auditor's Report			22 - 25
Consolidated	Statement of Financial Activities			26
Comparative	Consolidated Statement	of Financial	Activities	27
Consolidated	Balance Sheet			28
Charity Balance Sheet				29
Consolidated	Statement of Cash Flows			30
Princi pa I accounting policies				31-34
Notes to the	financial statements			35 - 53

the Truste	the Truste	es.
Company		registration	number:	01231909
Charity	registration		number;	270194
Registered		Office:		Milton Road
				Willen Village
				Milton Keynes
				MK15 9AB
Trustees:				P Davis (Chairman) ' '' I Philpott '' M Stevenson '' " R Gilbert ' 4' G Ball '' "(Resigned December 2020)
				C Dunn' M Rogers''' S Carbert '
				3 Wood 2 A Coombes ' C White-Robinson M Esam '	'
				Member of	Business		Development
				Committee/WHV Ltd			Board
				Member of	General	Purposes &		Finance
				Committee	(Including		IM&T)
				Member of	People	Services Committee
				Member of	Property		Committee
				Member of	Clinical	Governance		Committee
				Member of	Health	&	Safety Committee
				Integrated Governance Committee

Legal a	nd Adminis	trative Detail	s	(	continued)
Bankers:		Barelays
		4 The Waterside		Way
		Bedford Road
		Northampton
		NN4 7XD
		NatWest
		501 Silbury Boulevard
		Saxon Gate East
		Milton Keynes
		MK9 3ER
		Metro Bank
		One Southampton			Row
		London
		WC1B 5HA
		Handelsbanken
		2nd Floor Clifton		House
		4A Goldington	Road
		Bedford
		MK40 3NF
Solicitors:		Geoffrey Leaver Solicitors
		251 Upper Third		Street
		Bouverie Square
		Milton Keynes
		MK9 1DR
Independent	Auditor:	Mercer S.Hole Chartered Accountants 5 Registered				Auditor
		420 Silbury Boulevard
		Milton Keynes
		MK9 2AF
Investment	Advisors:	Rathbones
		8 Finsbury Circus
		London
		EC2M 7AZ
		Sarasin h Partners			LLP
		3uxon House
		100St Paul's	Churchyard
		London
		EC4M SBU

As at 31 March 2021:
Designated reserves		5,784,320
Unrestricted general reserves		7,196,482
Total free reserves		12,980,802
Less fixed asset designated	reserves:
Property		(1,863,079)
Hospice development		(3,378,232)
Other fixed assets		(444,009)
		7,295,482

							Unrestricted	Restricted	Total	Total
							Funds	Funds	2021	2020
						Note			f	f
Income
Donations and	voluntary		Income
Voluntary income						1	3,118,933	926,592	4,045,525	3,645,255
Grant funding								1,636,834	1,636,834
Income from generated			funds
Income from	Clinical		Commissioning		Group		1,294,877		1,294,877	1,332,283
Activities for	raising	funds					1,156,552		1,156,552	1,516,231
Investment income							225,649		225,649	246,018
Other Income							1,569,378		1,569,378	345,787
Total income							7 365389	2563 426	9 928 815	7 085574
Expenditure
Cost of raising	funds					7	(2,223,916)		(2 223 916)	(2 345 901)
Charitable activities Impairment of Investments						7 13	(3,109,546) 198438	(1,959,866)	(5,069,412) 198436	(4,454,606) ~197 021
Total expenditure
Gain / (Loss) on investment				assets		13	1 058 692		1 058 692	~307 260
Net income /	(expenditure)						3,289,057	603,560	378927617	(2197214)
Transfers
Net movements in funds							3,289,057	603,560	3,892,617	(219,214)
Fund balances brought		forward at
1 April 2020							10924 241	47 036	10971 277	11 190491
Fund balances March 2021	carried		forward at		31	20/22	14213298	650 596	14863 894	10971277

Activities (in accGUnt)	c	or	pol.	ating an i	ncome and ex	penditome
					Unrestricted		Total
					Funds	Funds	2020
					E	E	E
Income
Donations and voluntary		income
Voluntary income					3,603,572	41,683	3,645,255
Income from generated	funds
Income from Clinical	Commissioning			Group	1,332,283		1,332,283
Activities for raising	funds				1,516,231		1,516,231
Investment income					246,018		246,018
Other income					345,787		345,787
Totallncome					7,043,891	41,683	7,085,574
Expenditure
Cost of raising funds					(2,345,901)		(2,345,901)
Charitable activities Impairment of investment					(4,404,296) 197021	(50 310)	(4,454,606) ~19?021
Total expenditure					(6,947,218)	(507310)	(679977528)
(Loss) / Gain on investment			assets		307 260		307 260
Net income / (expenditure)					(210,587)	(8,627)	(219,214)
Transfers
Net movements in funds					(210,587)	(8,627)	(219,214)
Fund balances brought	forward at 1 April
2019					11134828	55 663	11 190491
Fund balances carried 2020		forward at		31 March	10924 241	47036	10971277

			Note	2021 E	2021f	2020	2020 E
Fixed assets
Intangible assets					32,687		21,788
Tangible assets			12		2,583,414		2,505,917
Investments			13		8 190880		6 793 714
					10,806,981		9,321,419
Current assets
Stocks			14	35,531		57,613
Debtors			15	2,013,665		1,159,016
Cash and cash equivalents			16	2 824 684		938 621
				4,623,880		2,155,250
Creditors: amounts one year		falling due within	17	(566,967)		505 392
Net current assets					4,056,913		1,649/858
Net assets					14,863,894		10,971,277
Income Funds
Restricted funds			20		650,596		47,036
Unrestricted f'unds
Designated funds			21		5,784,320		6,223,615
Other charitable	funds		22		7,196,482		4,526,822
Revaluation reserve			22		1 232 496		173804
Total funds					14,863,894		10,971,277

				Note	2021f	2021	2020 E	2020 E
Fixed assets
Intangible assets						32,687		21,788
Tangible assets				12		2,583,414		2,505,917
Investment In subsidiary			undertaking	13		2		2
Investments				13		8 190880		6 793714
						10,806,983		9,321,421
Current assets
Debtors				15	2,368,260		1,066,248
Cash and cash equivalents				16	1 854 049		648 910
					4,222,309		1,715,158
Creditors: amounts one year		falling due within		17	~311584		295 871
Net current assets						3,910,725		1,419,287
Net assets						14717 708		10740 708
Income Funds
Restricted funds						650,596		47,036
unrestricted funds:
Designated funds				21		5,784/320		6,223,615
Other charitable	funds			22		7,050,296		4,296,253
Revaluation reserve				22		1 232 496		173804
Totaifunds						14 717 708		10740 708

				2021	2021	2020	2020
			Notes
Cash flows from operating		activities
Net income / (expenditure)				3,892,617		(219,214)
Adjustments for:
Investment income				(225,649)		(246,018)
Amortisa tion			11	7,792		6,467
Depreciation			12	189,740		140,962
(Increase)/decrease in stocks			14	22,082		(2,718)
(Increase)/decrease in trade		and	15	(854,649)		(463,371)
other receivables
(Decrease)/Increase in trade		and other	17	61,575		(29,482)
paya bles
Movement on pension scheme			17			(386,064)
Revaluation of investments Impairment of investments			13 13	(1,059,667) (198,438)		307,260 197,021
Cash flows generated from					1,835,403		{695,157)
operating activities
Purchase of property plant and			12	(267,237)		(326,313)
equipment
Purchase of intangible fixed assets Purchase of investments Proceeds from sale of investments			11 13 13	(18,691) (145,147) 6,086		(20,669) (943,461) 201,705
Investment income				225 649		246 018
Cash flows generated from		investing			(199,340)		(842,720)
activities
Net (decrease) / increase	in cash				1,636,063		(1~537~877)
and cash equivalents
Cash and cash equivalents at	1 April				938,621		2,476,498
Cash and cash equivalents at	31 March		16		2 574684		938621

Donations	and v	oluntar	y in	come
						Total	Total
			Unrestricted		Restricted	2021	2020
						E	E
Donations (Including		gift aid)	1,186,162		926,592	2,112,754	1,122I028
Gifts in kind				47,447		47,447	31,768
Legacies				962,435		962,435	840,034
Memorials				244,692		244,692	258,658
Donated goods				650,678		650,678	1,342,767
Friends of Willen							50,000
Christmas Appeal				27,519		27,519
Grant funding					1,636,834	1,636,834
			3	118933	2 563 426	5 682 359	3 645 255
Activities for raising funds
						2021	2020
							E
Unrestricted	funds
Lottery income						466I231	509,026
Events and promotlons		income				610,659	826,929
Income from Willen Hospice Ventures				shops		79 662	399644
						1,156,552	1,735,599
Xnvestrnent	income
						2021	2020
						E	f
Unrestricted	funds
Listed investments						224,981	242,379
Bank deposits						668	3 639
						225,649	246,018

				2021	2020
				f.	F.
Unrestricted	funds
Education				35,799	72,829
Catering				16,442	30,277
Job Retention	Scheme			229,326	5,490
CCG COVID-19 Funding				875,373
Business Interruption			Scheme Claim	194,069
Retail business	support		grant	191,835	215,000
Other miscellaneous		Income		9,867	22,191
Shop Rent				16 667
				1,569,378	345,787

ompany num	be	r: 2479448) is	set out below:
					2021	2020
					6	E
Turnover					1,635,272	2,477,156
Cost of sales					169834	332 994
Gross profit					1,465,438	2,144,162
Administrative expenses					(1,767,598)	(1,827,703)
Other operating	income				556,851	219,368
Operating profit					254,691	535,827
Interest receivable		and similar income			184	325
Profit for the year and total comprehensive income					254,875	536,152
The net assets		and liabilities of the subsidiary		were:
					2021	2020
Current assets					1,068,621	702,966
Creditors: amounts		falling due within	one year		(922,433)	(472,395)
Creditors: amounts		falling due after one year
Total net assets					146,188	230,571
Aggregate share	capital and reserves				146,188	230,571

nalysis	of	expen	diture
					Support
				Direct costs	costs	Total	Total
					(Note below)	2021	2020
					f		E
Cost of raising funds
Trading				1,250,957	44,739	1,295,696	1,417,100
Lottery				191,496	19,724	211,220	225,012
Events and fundraislng				304,688	111,673	416,361	448,568
Voluntary	fundraising		costs	300639		300639	255 221
				2,047,780	176,136	2,223,916	2,345,901
Charitable	activities
In house				2,606,921	238,277	2,845,198	2,603,772
Willen At Home				1,035,947	84,009	1,119,956	1,032,358
Wellbeing	86 Therapeutic			701,178	71,055	772,233	497,342
Lymphoedema		Service		200,323	30,900	231,223	224,103
Governance				12610	88 192	100 802	97 031
				4,556,979	512,433	5,069,412	4,454,606
Other expenses
Impairment	of	investments
Total expenditure				6,604,7S9	490,131	7,094,890	6,997,528

Total exp	end	iture includes:
				The group	The charity
			2021	2020	2021	2020
			f			E
Auditor remuneration
Audit services			12,150	10,300
Non-audit	services		1,350	2,145
Amortisatlon			7,792	6,467	7,792	6I467
Depreciation			189,740	140,962	189,740	140,962
Other operating		lease rentals	(6,728)	35,352	(6,728)	35,352

		2021	2020
Salaries and wages		4,318,025	4,017,677
Social security costs		379,961	344,378
Pension costs		391,514	351,000
		5,089,500	4,713,055
Contract staff		367,029	264,383
Health Examination	fees	329	635
		5,456,858	4,978,073

te	s to the	financial statement	s (continued)
11	Intangible	fixed assets
	The group and the charity
			ITsoftware	Total
			E
	Cost
	At 1 April 2020		97,014	97,014
	Additions		18,691	18,691
	Disposals
	At 31March	2021	115,705	115,705
	Amortisation
	At 1 April 2020		75,226	75,226
	Amortisation	in the year	7,792	7,792
	On disposals
	At 31March	2021	83,018	83,018
	Net book amount at 31March 2021		32,687	321687
	Net book amount at 31March 2020		21,788	21,788

			Asset under
		Freehold	course of		Fundraising
		property	construction	Equipment	assets
				E
Cost
At 1 April 2020		3,053,004	288,524	616,155	372,212
Additions			20,502	30,064	17,264
Disposals					11080
At 31March	2021	3,053,004	309,026	646,219	378,396
Depreciation
At 1 April 2020		1,129,708		504,199	299,030
Depreciation	in the year	60,223		21,963	18,385
Disposals					(11,080)
At 31March	2021	1,189,931		526,162	306,335
Net book amount at
31March 2021		1,863,073	309,026	120,057	72,061
Net book amount at
31March 2020		1,923,296	288,524	111,956	73,182

		IT	Motor	Leasehold
		hardware f	vehicles	improvements E	Total
Cost
At 1 April 2020		235,122	42,774	4,798	4,612,589
Additions		46,178		153,229	267,237
Disposals					11080
At 31March	2021	281,300	42,774	158,027	4,868,746
Depreciation
At 1 April 2020		143,776	29,430	529	2,106,672
Depreciation	in the year	46,182	7,060	35,927	189,740
Disposals					(11,080)
At 31March	2021	189,958	36,490	36,456	2,285,332
Net book amount at 31
March 2021		91,342	6,284	121,571	2,583,414
Net book amount at 31
March 2020		91,346	13,344	4,269	2,505,917

			Historical				Market
			cost	Impairment		Revaluation	value
			E		E	E	E
Valuation
At 1 April 2020			6,818,348	(198,438)		173,804	6,793,714
Purchases and	additions	from	145,147				14S,147
reinvestment
Dlsposals			(5,111)			(975)	(6,086)
(Impairment)	/ reversal	of		198,438			198,438
impairment
Realised Gain
Unrealised gain on revaluation						1,059,667	1I059I667
At 31March	2021		6,958,384			1,232,496	8,190,880

			2021	2020
			E	E
Goods	for	resale	35531	576i3

							The group	The group			The charity
							2021			2020	2021	2020
										E		E
	Trade	debtors					50,711			22,788	48,156	16,865
	Other	debtors					128,316			69,945	116,178	46,756
	Prepayments		and	accrued
	income						1,834,638		1,066,283		1,536,876	739,753
	Amounts owed by subsidiary
	undertaking										667 050	262 674
							2,013,665	1,159,016			2,368,260	1,066,248
16	Cash and cash				equivalents
							The group				The charity
							2021			2020	2021	2020
										E			E
	Cash at	bank and		in	hand		2,538,046			900,179	1,817,411	610,468
	Cash held at investment					manager	36,638			38,442	36,638	38,442
							2,574,684			938,621	1,854,049	648,910
17	Creditors: amounts					falling	due vvithin	one		year
								The	group		The charity
							2021			2020	2021	2020
	Trade creditors						87,321			137,196	75,096	107,570
	Social security		and	other		taxes	91,913			84,537	78,094	70,568
	Pension	contributions					59,542			52,243	53,654	47,088
	Other creditors						1,245			6,207	17062	6,008
	Accruals	and deferred			Income		326 946			225 209	103678	64	637
							566,967			505,392	311584	295	871

Financial instruments	Financial instruments
				The group		The charity
				2021	2020	2021	2020
					E		E
Financial	assets:
Financial	assets measured	at	fair
value through profit and loss				2,574,684	938,621	1,854,049	648,910
Financial	assets measured	at
amortised	cost			1,811,040	982,602	2,249,265	1,001,364
				4,385,724	1,921,223	4,103,314	1,650,274
Financial	liabilities:
Financial	liabilities measured		at
amortised	cost			336,994	106,985	224,418	100,553

Group	—current year
		Unrestricted fundsf	Restricted fundsf	Total funds
Intangible fixed assets		32,687		32,687
Tangible	fixed assets	2,583,414		2,583,414
Investments		8,190,880		8,190,880
Current	assets	3,973,284	650,596	4,623,880
Current	liabilities	(566,967)		(566,967)
		14213298	650,,596	14,863,894

Analysis of net asse	ts be	tween	funds (co	ntinued)
Group —comparative	year
			Unrestricted fundsf Restricted funds E		Total fundsf
Intangible fixed assets				21,788	21,788
Tangible fixed assets			2,505,917		2,505,917
Investments			6,793,714		6,793,714
Current assets			2,108,214 47,036		2,155,250
Current liabilities				(505,392)	(505,392)
			10,924,241 47 036		10,971,277
Restricted funds
The group and the charity		—current year
					At
	At 1	April 2020	Income	Expenditure Transfers	31March 2021
					E
Education	3,287			(1,005)	2,282
Clinical equipment	5,364		13,566	(12,166)	6,764
Willen at Home			33,043	(32,786)	257
Capital Appeal	7,790		302,055		309,845
Wellbelng and Therapeutic	3,382		66,160	(46,324)	23,218
Miscellaneous	27,213		47,565	(45,189)	29,588
CCG COVID-19 Funding			286,988	(8,347)	278,641
Hospice UK Funding			] 636834	(1,636,834)
Cancer Care in the			140,841	( 140,841)
Community
Bereavement Project			36,375
Total	47,936		2,563,427	(2,959,667)	6507S96

							At
			At 1 April 2019 E	Income 6	Expenditure E	Transfers f	31March 2020 E
Education			4,327		(1,040)		3,287
Clinical	equipment		12,674		(7,310)		5,364
Willen	at	Home		9,250	(9,250)
Capital	Appeal			7,790			7,790
Wellbeing		and Therapeutic		16,700	(13,318)		3,382
Miscellaneous			38,662	7,943	(19,392)		27,213
Total			55,663	41,683	(50,310)		47,036

The group and the charity —	current year
			Transfers
	At 1April 2020	Expenditure	(see below)	At 31 March 2021
		E	E
Property	1,982,975	(60,223)	(59,673)	1,863,079
Hospice development	3,788,061	(20,502)	(389,328)	3,378,232
Other fixed assets	261,779	(137,309)	319,539	444,009
The Well	83,000	(83,000)
Retail outlet refurbishment	18,000	(7,040)	(5,960)	5,000
IT replacement	59,000	(59,000)	25,000	25,000
Clinical equipment			36,000	36,000
Planned preventative
maintenance	30,800		2,200	33,000
Total	6,223,615	(367,073)	(72,222)	5,784,320

The group and the charity —	comparative year
			Transfers
	At 1April 2019	Expenditure	(see below)f	At 31March 2020
Property	1,986,220	(62,921)	59,676	1,982,975
Hospice development	4,000,000	(211,939)		3,788,061
Other fixed assets	265,347	(84,653)	81,085	261,779
The Well			83,000	83,000
Retail outlet refurbishment	28,000	(6,777)	(3,223)	18,000
IT replacement	142,314	(124,091)	40,777	59,000
Clinical equipment	17,941	(3,300)	(14,641)
Planned preventative
maintenance	47,799		(16,999)	30,800
Total	6,487,621	(493,681)	229,675	6,223,615

	Designated	Other
	funds (see note 21)	charitable funds	Revaluation reserve	Total
			E	E
At 1 April 2020	6,223,615	4,526,822	173,804	10,924,241
Income		7,365,389		7,365,389
Expenditure	(367,073)	(4,767,951)		(5,135,024)
Gain / (loss) on revaluation			1,058,692	1,058,692
Transfers (see note 13521)
At 31March 2021	5,784,320	7,196,482	1,232,496	14,213,298

	Designated	Other
	funds (see note 21)	charitable funds E	Revaluation reservef	Total
At 1 April 2019	6,487,621	4,127,368	519,839	11,134,828
Income		7,043,891		7,043,891
Expenditure	(493,681)	(6,453,537)		(6,947,218)
Gain / (loss) on revaluation			(307,260)	(307,260)
Transfers (see note 13521)	229 675	190900	38 775
At 31March 2020	6,223,615	4,526,822	173,804	10,924,241

	Designated funds (see note 21)	Other charitable funds E	Revaluation reserve f	Total E
At 1 April 2020	6,223,615	4,296,253	173,804	10,693,672
Income		5,886,757		5,886,757
Expenditure	(367,073)	(3,204,936)		(3,572,009)
Gain / (loss) on revaluation			1,058,692	1,058,692
Transfers (see note 13521)
At 31March 2021	5,784,320	7,050,296	1,232,496	14,067,112

	Designated funds (see note 21)f	Other charitable funds f	Revaluation reserve f	Total
At 1 April 2019	6,487,621	4,110,056	519,839	11,117,516
Income		5,289,894		5,289,894
Expenditure	(493,681)	(4,912,797)		(5,406,478)
Gain / (loss) on revaluation			(307,260)	(307,260)
Transfers (see note 13521)	229 675	190900	38 775
At 31March 2020	6,223,615	4,296,253	173,804	10,693,672

o which these amount	s relate expire a	s follows:
	2021	2020	2021	2020
	Land and buildings E	Land and buildings E	Other E	Other E
In one year or less	350,004	246,993	26,196	47,536
Between two and five	517,435	605,130	10,657	9,884
years
Over five years	151250	79479
	1,018,689	931,603	36,853	07,420